Week 22 - 2026
LINGKARAN CEKAP TO IMPLEMENT GENTING HIGHLANDS ROAD CHARGES IN TWO PHASES EFFECTIVE MAY 28 AND JUNE 28
The Edge, 26/05/2026
Lingkaran Cekap Sdn Bhd (LCSB), the authorised operator of the Genting Highlands road network, will introduce road charges for vehicles entering Genting Highlands starting 28 May 2026. Under the new fee structure, Class 1 vehicles (cars and vans) will be charged RM5 per entry, while charges for other vehicle classes range from RM3.30 for taxis to RM25 for heavy lorries. The fees will be collected at the Genting Sempah and Gohtong Jaya entry points. Emergency vehicles, motorcycles, and certain government employees working in Genting Highlands are exempt from the charges. Beginning June 28, eligible permanent residents will be able to register up to two vehicles to enjoy a 10% discounted rate and may also subscribe to a six-month season pass offering unlimited entries, providing greater convenience and cost savings for frequent users.
AME ELITE POSTS RECORD FULL-YEAR PROFIT OF RM284 MILLION, DECLARES SEVEN SEN DIVIDEND
The Edge, 23/05/2026
AME Elite Consortium Bhd delivered its strongest financial performance since listing in 2019, posting a record net profit of RM283.97 million for FY2026, more than triple the RM92.09 million achieved in FY2025, while revenue surged 59.4% to RM970 million. The growth was driven by strong demand for industrial properties, strategic land sales, and fair value gains from investment properties. Its property development segment was the main contributor, supported by robust sales at Johor’s i-TechValley at SILC and Penang’s Northern TechValley @ BKE, as well as land sales to data centre operators. The group also expanded its recurring income through higher rental revenue and workers’ dormitory operations. Reflecting its strong performance, AME Elite declared a total FY2026 dividend of 13 sen per share, more than double the previous year’s payout. Looking ahead, the group remains optimistic, supported by ongoing industrial park developments in Johor, Penang and Selangor, a healthy construction order book, and an expanding workers’ accommodation portfolio.
PARAMOUNT FLAGS 3%–5% PRICE HIKE FOR NEW LAUNCHES, KEEPS RM1.2 BILLION SALES TARGET
The Edge, 23/05/2026
Paramount Corp Bhd expects construction costs to rise by about 10% due to recent geopolitical tensions and higher fuel and material prices, prompting the group to increase prices of its upcoming property launches by 3% to 5% to protect margins. While around 80% of current project costs are already locked in, new developments will face higher input costs, particularly as construction accounts for up to half of total development expenses. Despite softer consumer sentiment especially among upgrader buyers due to economic uncertainty and weaker SME conditions, the group remains confident in demand for starter homes and is maintaining its RM1.2 billion sales target supported by RM1.8 billion in planned launches
SKYWORLD’S FY2026 SALES HIT RM1 BILLION, UNBILLED SALES JUMP TO RM1.1 BILLION ON KL AND PENANG LAUNCHES
The Edge, 28/05/2026
SkyWorld Development Bhd ended FY2026 with stronger revenue and record sales momentum, supported by active projects in Kuala Lumpur and its first expansion into Penang, though profitability was weaker due to higher costs and a shift toward lower-margin projects. The group recorded RM430.5 million in revenue for the year and achieved RM1.0 billion in property sales, with unbilled sales doubling to RM1.1 billion, providing stronger earnings visibility going forward. It also expanded its development pipeline with RM1.6 billion in new gross development value launches and continues to grow its footprint beyond Malaysia into Vietnam. Despite higher borrowings and increased development spending, SkyWorld maintained a relatively stable balance sheet and declared modest dividends. Looking ahead to FY2027, the group remains cautiously optimistic, expecting ongoing project deliveries and its enlarged pipeline to support continued performance despite cost pressures and market uncertainties.
E&O TO PRIORITISE RM1 BILLION SALES TARGET OVER PASSING ON HIGHER COSTS TO BUYERS
The Edge, 27/05/2026
Eastern & Oriental Bhd (E&O) said it may absorb part of rising construction costs caused by geopolitical tensions in the Middle East rather than fully passing them on to buyers, as it prioritises maintaining its RM1 billion annual sales target. While existing projects are largely protected through fixed-price contracts, the group expects future developments to face higher material and logistics costs, which could lead to more expensive contractor pricing. However, E&O believes its close relationship with sister company Kerjaya Prospek Group Bhd will help manage cost pressures through scale and procurement efficiencies. The developer also emphasised that pricing decisions will balance cost recovery with market demand to ensure continued sales, while it plans to expand beyond Penang into Kuala Lumpur with upcoming residential and commercial launches.
SETIA AWAN INKS MOU WITH SEVEN BRANDS TO ANCHOR AVENUE F MALL IN BUKIT AMPANG PERMAI
The Edge, 25/05/2026
Setia Awan has strengthened its township development strategy by signing an MoU with seven retail and F&B brands to establish the initial tenant mix for Avenue F, the first neighbourhood mall in Bukit Ampang Permai, Selangor. Scheduled for completion in 3Q27, Avenue F is designed to serve as a community and convenience hub, featuring tenants such as B Grocer, Haji Basheer, CU Malaysia, Little Salty Café, Malaysia Chicken Rice, and Alpro Pharmacy. Located next to the Fona Vista condominium development, the project forms part of a broader strategy to combine residential living with essential retail, healthcare, and dining facilities, while supporting the group’s expansion plans across Melaka, Selayang, Shah Alam, and Tanjong Malim.
DEVELOPER SEEKS APPROVAL FOR 61-STOREY MIXED-USE TOWER IN BUKIT PANTAI, NEAR TNB HQ AND PANTAI HOSPITAL
The Edge & NST, 28/05/2026
A private developer, believed to be Akisama Corp Sdn Bhd, is seeking planning approval from DBKL for a 61-storey mixed-use development in Bukit Pantai, Kuala Lumpur, comprising 1,494 serviced apartment units across two towers and a retail podium with 64 retail units. The project, located near Pantai Hospital Kuala Lumpur and Tenaga Nasional Berhad's headquarters, also includes a pedestrian bridge and central green space. This revised proposal replaces an earlier 70-storey scheme approved in 2022, reducing the building height while increasing the number of residential units. The development reflects the growing trend of high-density residential projects in established urban areas, driven by demand for housing near employment centres and transport networks.
INTA BINA BAGS RM227 MILLION CONTRACT FOR MIXED DEVELOPMENT IN KLANG
The Edge, 29/05/2026
Inta Bina Group Bhd has secured a RM227.08 million construction contract from Ancubic PJ Sdn Bhd to undertake main building and infrastructure works for a mixed commercial strata development in Klang, Selangor. The project, spanning two phases along Jalan Remia and Jalan Botanika, includes serviced apartments, retail and office components, parking facilities, and lifestyle amenities, with construction scheduled to begin on June 15, 2026 and take 36 months to complete.
ETA GROUP TO ACQUIRE BANDAR SRI DAMANSARA INDUSTRIAL PROPERTY FOR RM16.5 MILLION
The Edge, 28/05/2026
ETA Group Bhd (formerly Rex Industry Bhd) is acquiring a freehold industrial property in Bandar Sri Damansara, Selangor for RM16.5 million in cash through its subsidiary ETA Development Sdn Bhd. The asset includes a five-storey office and factory building with a basement car park, and the purchase price is below the independent valuation range of RM18 million to RM18.5 million, suggesting a discount to market value. The group noted the acquisition is supported by Malaysia’s resilient economic outlook, with GDP growth of 5.4% in 1Q26 and expectations of 4%–5% growth for the year, driven by domestic demand and exports. However, it also acknowledged potential risks from global geopolitical tensions, including higher energy costs and supply chain disruptions. The transaction documents and valuation report are available for public inspection as part of the regulatory filing process.
KUALA LUMPUR LUXURY HOTEL TRANSACTIONS RISE 14% AS ASIA PACIFIC DEAL VOLUMES HIT US$2.1 BILLION IN 2025, SAYS JLL
The Edge, 28/05/2026
Kuala Lumpur’s luxury hotel investment market has strengthened significantly, with transaction volumes reaching about RM660 million between 2023 and 2025—up 14% from the pre-Covid period—driven by rising investor interest in premium hospitality assets. According to JLL, the luxury segment now accounts for a larger share of total hotel deals in the city, supported by acquisitions of branded properties such as W, Banyan Tree and upcoming developments like Langham. Limited availability of investment-grade hotels, many of which are tightly held, has shifted investor focus toward new developments, despite land constraints in Kuala Lumpur. The market outlook remains positive, supported by tourism recovery, major events like Visit Malaysia Year 2026, and a pipeline of new luxury hotel openings, while globally the luxury hospitality sector continues to attract strong investor demand due to its resilience, pricing power, and stable returns compared to broader hotel segments.
JOHOR A COST-EFFICIENT DATA CENTRE ALTERNATIVE TO SINGAPORE
The Edge, 25/05/2026
Malaysia, particularly Johor, is emerging as a major regional data centre hub and a cost-efficient alternative to Singapore, supported by available land, power infrastructure, and investment incentives. According to Moody’s Ratings, Johor’s proximity to Singapore and integration with its strong international connectivity make it attractive to hyperscalers, with major investments already committed by companies such as Microsoft and Oracle. While Singapore remains the region’s primary and most mature data centre hub, its expansion is increasingly constrained by land, power, and sustainability limits, pushing a “hub-and-spoke” model where Singapore serves as the core connectivity node and surrounding markets like Malaysia provide additional capacity. Malaysia, with a relatively strong power reserve margin, has been able to scale data centre development rapidly, though Moody’s warned that continued growth will require significant upgrades to power generation and grid infrastructure, as committed data centre demand could exceed 7GW—about a quarter of Peninsular Malaysia’s current generation capacity.
IJM LAND, SOCAT TO JOINTLY DEVELOP RM1.96 BILLION INDUSTRIAL PROJECT IN JOHOR JS-SEZ
The Edge, 25/05/2026
IJM Land Bhd has formed a joint venture with Southern Catalyst Sdn Bhd (SOCAT) to develop about 307 acres of industrial and commercial land in the Johor–Singapore Special Economic Zone (JS-SEZ), with an estimated gross development value of RM1.96 billion. The project, located in Sedenak, Johor, will be developed over six to eight years as part of SOCAT’s wider 2,940-acre masterplan and is designed to support sectors such as advanced manufacturing, logistics, agri-tech, renewable energy, and biopharmaceuticals. IJM Land holds a 70% stake in the joint venture, with SOCAT holding 30%, and the development aims to strengthen Johor’s position as a regional industrial hub driven by foreign investment and cross-border economic activity with Singapore. Both parties highlight the project’s strategic location within the JS-SEZ and its potential to generate investment inflows, jobs, and higher-value industry growth, aligning with broader national industrial development efforts.
GOLDEN VILLAGE PROPERTIES MARKS COMPLETION OF 112 UNIT RESIDENSI PAUH HARMONI DEVELOPMENT IN PENANG
The Edge, 25/05/2026
Golden Village Properties (GVP) has completed and handed over Residensi Pauh Harmoni in Seberang Perai Tengah, Penang, marking the delivery of its first high-rise residential project in the area under the Rumah MutiaraKu affordable housing scheme in collaboration with LPNPP. The development consists of a seven-storey block with 112 units designed for B40 and M40 buyers, featuring facilities such as a pool, gym, playground and enhanced security systems, and was completed on schedule. The project handover included a symbolic key presentation to 30 homebuyers, highlighting its role as many residents’ first home. GVP said the project reflects its commitment to community-focused development, supported by CSR initiatives such as nearby infrastructure improvements, while reinforcing its expansion into Penang’s residential market.
