Week 33 - 2026
MALAYSIA'S UNEMPLOYMENT RATE STAYS LOW DESPITE RISE IN JOBLESS NUMBERS
NST, 12/08/2026
The unemployment rate remained unchanged at 3.0% in June 2026, with 517,800 unemployed persons recorded. The Statistics Department denoted number of employed persons rose 0.01% to 16.83 million in June 2026 (May 2026: 16.82 million persons), while the number of unemployed persons increased from 513,400 to 517,800, rising by 0.9% month-on-month. The labour force recorded a marginal month-on-month increase of 0.04% to 17.34 million persons in June 2026 (May 2026: 17.34 million persons). The labour force participation rate (LFPR) remained at 70.9%, unchanged from the previous month. In June 2026, the unemployment rate among youths aged 15 to 24 years stood at 10.2%, with 292,200 unemployed youths recorded (May 2026: 291,600 persons), while the unemployment rate for those aged 15 to 30 years was unchanged at 6.3%, registering 400,800 unemployed youths.
WHOLESALE, RETAIL TRADE SALES HIT RM168.5 BILLION IN JUNE 2026
Malaysia's wholesale and retail trade increased 10.1% year-on-year (YoY) in June 2026, with sales hitting RM168.5 billion, supported by positive growth across all three sub-sectors. In tandem with the expansion in sales value, the volume index rose by 5.1% YoY. The wholesale trade recorded sales of RM76.8 billion, an increase of RM8.5 billion, representing a growth of 12.4% YoY. Retail trade registered sales of RM72.0 billion, up RM4.5 billion, equivalent to a rise of 6.6%, while the Motor vehicles sub-sector expanded by RM2.6 billion, a 14.9% growth, reaching RM19.7 billion. Collectively, the increase in sales across the three sub-sectors amounted to RM15.5 billion, broadly accounting for the overall increase in wholesale and retail trade sales during June 2026. It noted that wholesale trade contributed the largest share of the increase, followed by retail trade and motor vehicles.
TSR CAPITAL SECURES RM16.9 MILLION EARTHWORKS CONTRACT FOR INDUSTRIAL DEVELOPMENT IN SEREMBAN
The Edge & The Star, 14/08/2026
TSR Capital Bhd has secured a RM16.9 million contract to undertake site clearing and earthworks for an industrial development in Seremban, Negeri Sembilan. The contract was awarded to TSR Capital's wholly owned subsidiary TSR Bina Sdn Bhd by MIE Industrial Sdn Bhd, the construction and property development group. The four-month contract is scheduled to be completed by 4Q26.
INTA BINA SECURES RM115.65 MILLION HOUSING CONSTRUCTION JOB FROM SIME DARBY PROPERTY
The Edge & The Star, 11/08/2026
Inta Bina Group Bhd has secured a RM115.65 million contract to build houses at KL East, Taman Melati, Kuala Lumpur, from a unit of Sime Darby Property Bhd. The contract, to build 61 units of three-storey houses and one electricity substation, will run for 30 months from 24th August 2026 to 23rd February 2029. The contract was secured by Inta Bina’s wholly owned unit Inta Bina Sdn Bhd from Sime Darby Property (KL East) Sdn Bhd, a wholly owned unit of Sime Darby Property.
IJM LAND, AMONA GROUP LAUNCH RM389 MILLION ENLACE SUITES II IN PANTAI SENTRAL PARK
The Edge, 11/08/2026
IJM Land Bhd, through a joint development with Amona Group, has officially launched Enlace Suites II in Pantai Sentral Park, Kuala Lumpur on 9th August 2026. With a gross development value of RM389.31 million, Enlace Suites II stands at 38 storeys, featuring 290 units. Unit built ups range from 506 sq. ft. to 2,034 sq. ft., with selling prices starting from RM624,000 to RM3.22 million. Targeted for completion by the end of 2029, the leasehold project is situated within the 58-acre Pantai Sentral Park master development, adjacent to the 252-acre Taman Rimba Bukit Kerinchi. Facilities within the development include a 50-metre lap pool, jacuzzi, hammock garden, a co-working studio and artificial intelligence-powered closed-circuit television surveillance systems.
OSK PROPERTY BRINGS FORWARD OSK OMBAK PHASE 2 LAUNCH BY 18 MONTHS AFTER PHASE 1 FULLY SOLD OUT
The Edge, 12/08/2026
OSK Property has brought forward the launch of Phase 2 of its RM690 million OSK Ombak development in Kuantan, Pahang, by 18 months after Phase 1 fully sold out within three months of its unveiling. Spanning 5.99 acres along Balok Beach, the Mediterranean-inspired serviced apartment development comprises three towers and curated retail units delivering 1,274 fully furnished residences. Units range from studios to three-bedroom layouts, including dual-key configurations designed for personal leisure or short-term accommodation. The fully sold of Phase 1 within three months is a strong endorsement of OSK Ombak and a clear reflection of buyers’ confidence in the development. The project features over three acres of resort facilities, including a cascading swimming pool, Blue Cove adventure cavern, active recreation zones, and event spaces. Designed to achieve GreenRE Silver certification, OSK Ombak is targeted for full completion in 2030.
SIME DARBY PROPERTY TOPS OFF ITS RM299 MILLION KANOPI RESIDENCES IN ELMINA CITY CENTRE
The Edge, 13/08/2026
Sime Darby Property Bhd marked the topping-off ceremony for Kanopi Residences, its first high-rise residential development within the 350-acre Elmina City Centre. The 36-storey development, which has a gross development value (GDV) of RM299 million, has achieved a 90% sales rate since its launch in 4Q24 and is scheduled for completion in 3Q27. Located on Persiaran Garcinia within the 6,500-acre City of Elmina masterplan, Kanopi Residences comprises 499 freehold units with open-plan layouts ranging from 550 to 1,200 sq. ft. Selling prices start from RM590,888.
SUNWAY CITY ISKANDAR PUTERI LAUNCHES NEW DINING DESTINATION
Starproperty.com.my, 12/08/2026
Sunway City Iskandar Puteri (SCIP) has launched Sunway Puteri Hills, a hilltop gourmet destination with a curated mix of local favourites and internationally inspired dining concepts. Located within SCIP, the unique open-air destination combines architecture, nature and culinary excellence, reflecting the evolving lifestyle landscape of Iskandar Puteri. Spanning over 10 acres with a total developed gross floor area and landscaped space of 300,000 sq. ft, there are 15 curated F&B lots featuring 11 unique brands making their debut with their very first outlet in Johor. Among the notable brands is Made on Monday, a'rest Café, Makan Makan by Hock Kee and Kenny Hills Bakers.
ARATAS CORP TO INVEST RM259 MILLION TO DEVELOP FACILITY AT COMPASS @ KOTA SERI LANGAT
The Edge, NST & The Sun, 12/08/2026
Aratas Components Malaysia Sdn Bhd, has executed a sale and purchase agreement to acquire a 17-acre site within Compass @ Kota Seri Langat managed industrial park. Construction of the facility is scheduled to begin in October 2026 following necessary approvals, with completion and operational launch targeted for late 2027. The new factory will expand production capacity to 1.5 times its current level, accounting for more than 10% of Aratas’ total global production capacity. The facility will primarily manufacture relays, sockets, and other products to serve the growing India and Asia-Pacific markets.
ETA GROUP SECURES RM13.17 MILLION GOMBAK DEALS
The Star, 14/08/2026
ETA Group Bhd has secured two construction agreements for the design and build of industrial factory and warehouse buildings in Gombak, Selangor, with an aggregate contract value of RM13.17 million. ETA Group has executed the agreements with Eckem Sdn Bhd and Entire Concept Sdn Bhd, which are both wholly- owned subsidiaries of Eckem Holdings Bhd.
SD GUTHRIE TO SELL 557 ACRES IN KULAI TO SIME DARBY PROPERTY FOR RM418.5 MILLION
The Star, NST, Starproperty.com.my & The Edge, 12/08/2026
SD Guthrie Bhd has opted to sell 556.96 acres of land in Kulai to Sime Darby Property Bhd for RM418.5 million. The land is seen as having strong development potential due to its location within the Johor-Singapore Special Economic Zone. Sime Darby Property plans to develop the site into a sustainable township comprising landed residential and commercial developments, with an estimated gross development value of RM3 billion. The first phase of the development is targeted for launch in 2028, while the overall project is expected to be completed over 10 to 15 years.
EXSIM HOSPITALITY UNIT MANA MANA HOSPITALITY SHOWCASES RM194 MILLION THE STALLIONZ @ IPOH WHITE TIMES SQUARE
The Edge, 08/08/2026
EXSIM Hospitality Bhd’s subsidiary, Mana Mana Hospitality (MMH), has secured a management agreement for 395 serviced apartment units at The Stallionz @ Ipoh White Times Square under an 80/20 revenue-sharing scheme. MMH operates the units under a three-year service and management agreement rather than a leaseback scheme. The development, which was launched in 2022, carries a gross development value of RM194.24 million. Serviced apartment units within the development are priced at RM445,300. MMH manages day-to-day operations, including property maintenance, housekeeping, room revenue generation, marketing, reservations, and guest services. Daily room rates for the units are dynamic, averaging between RM180 and RM300 per night based on seasonality and occupancy levels.
BINASAT TERMINATES RM73 MILLION DEAL TO BUY HOTEL SUITS IN EMPIRE CITY
The Edge & The star, 13/08/2026
Binasat Communications Bhd has terminated a RM73.54 million deal to buy 241 units of fully furnished hotel suites in Empire City, Damansara Perdana, from Cosmopolitan Avenue Sdn Bhd. The termination comes after Binasat obtained a fourth extension in May 2026 to settle its outstanding cash payment obligations relating to two acquisitions. Binasat intended to buy the hotel suites in Empire City for RM73 million, and shop offices valued at RM8.34 million in Sazean Business Park in Klang. The deadline was extended to 16th Aug 2026 from 17th May 2026, with RM22.29 million still outstanding out of the RM33.83 million cash payment obligation at the time. Notably, Hextar Group is one of the shareholders of Empire City Damansara Mall there. Hextar Healthcare Bhd owns a 20% equity interest, while Alliance Premier Sdn Bhd controls 60%. The joint venture between EXSIM Holdings Sdn Bhd and JT Momentum Sdn Bhd owns the remaining 20%.
GOVERNMENT TARGETS ONE MILLION AFFORDABLE HOMES BY 2035
The Edge, NST, The Star & The Sun, 11/08/2026
Housing and Local Government Minister has launched the National Housing Policy 2026-2035, which targets the delivery of one million affordable homes by 2035. Themed "Humanising Housing", supported by six focus areas, 17 strategies, and 59 action plans, the policy aims to address rising living costs, housing supply mismatches, and abandoned projects. It also seeks to expand home ownership through initiatives such as Rent-to-Own, Shared Ownership, and the Housing Credit Guarantee Scheme.
Key legal and industry reforms under the policy include a new Residential Tenancy Act, amendments to the Strata Management Act 2013, and a phased rollout of the Build-Then-Sell system. It also introduces "Option to Purchase" and "Sunset Clause" mechanisms to strengthen buyer protection. In addition, the policy prioritises Transit-Oriented Development (TOD) to build on existing investments in public transport infrastructure. The approach aims to expand transit access and reduce reliance on private vehicles, supporting Malaysia's target to become a carbon-neutral economy by 2050. The Housing and Local Government Ministry will work closely with state governments, local authorities, and industry players to ensure the policy delivers tangible benefits by 2035.
HOUSING MINISTRY TO DRAFT, AMEND FOUR HOUSING LAWS UNDER NATIONAL HOUSING POLICY 2026-2035
The Edge, NST, The Star & The Sun, 11/08/2026
The Ministry of Housing and Local Government (KPKT) plans to draft and amend four housing laws under the National Housing Policy (DPN) 2026–2035. The goal is to put in place a legal framework that is more thorough, forward-looking and equitable for all parties. The move involves three entirely new laws: the Property Development Act, the Building Managers Act and the Residential Tenancy Act. In parallel, the government will also revise the existing Strata Management Act 2013. The government is committed to finalising all four acts as soon as possible.
MGB COMPLETES STRUCTURAL MILESTONE FOR RM437 MILLION JOHOR HIGH-RISE PROJECT
NST, 08/08/2026
MGB Bhd has completed the topping-out ceremony for Pangsapuri Saujana Indah in Molek, Johor Baru, marking the completion of the project's main structural works and bringing the developer closer to delivering its first high-rise development in Johor. The project, with an estimated gross development value (GDV) of RM437 million, comprises two 37-storey residential towers offering 988 units. Tower A features 393 units, while Tower B comprises 595 units, with built-up areas ranging from 590 sq. ft. to 863 sq. ft. The development offers a range of lifestyle and community facilities, including a swimming pool, children's playground, multipurpose hall, surau, barbecue area, fitness zone and gymnasium. The development also features an outdoor recreational park equipped with a running track, aimed at promoting healthier lifestyles and community interaction among residents. Since its launch in 2023, Pangsapuri Saujana Indah has received a strong market response, with all 988 units sold out.
YOUNG BUYERS SNATCH UP AFFORDABLE HOMES
The Star, 12/08/2026
Over 70% of approved applicants for one of the state’s largest affordable housing projects (RMMJ) in Iskandar Puteri are aged 40 and under, reflecting the state government’s push to help young people own homes. Overwhelming response for the Perumahan Iskandar Puteri Bangsa Johor project, comprising more than 2,000 units, had come from young buyers. About 8,000 people submitted applications online, but only those who fulfil the requirements, with complete documents, are offered a unit. All units in the project, comprising three phases, have been sold. The development comprises three categories of housing priced at RM150,000, RM250,000 and RM300,000, and a limited number of low-cost commercial units priced at RM300,000. Phase one of the project had reached about 96% completion and is expected to be completed in 1Q27, ahead of its original target of 2Q27. Phase two is about 75% complete and projected to be completed in the 3Q27, also three months earlier than scheduled. The final phase is about 15% complete and is expected to be completed in 2028. The entire project, with an estimated development cost of about RM500 million, is among the largest RMMJ developments undertaken by Johor government over the past four years.
KERJAYA PROSPEK SECURES RM223 MILLION JOHOR BAHRU CONTRACT FROM SUNWAY MAJESTIC
The Edge, The Star & The Sun, 13/08/2026
Kerjaya Prospek Group Bhd has secured a RM223 million contract from Sunway Majestic Sdn Bhd to build a small office or home office (SOHO) development in Johor Bahru. Kerjaya Prospek’s wholly owned subsidiary Kerjaya Prospek (M) Sdn Bhd had accepted the letter of award from Sunway Majestic for the main building works. The contract is for a fixed lump sum of RM223 million. The development, located along Jalan Yahya Awal in Johor Bahru, comprises 1,012 SOHO units across two 34-storey buildings, with 540 units in one block and 472 units in the other. It will also include a 10-level podium car park, two levels of mezzanine commercial space and two levels of facilities. Construction is scheduled to start on 1st Sept 2026 and is expected to be completed within three years.
AME ELITE TO BUILD AEROSPACE AND MEDICAL DEVICE FACILITY IN JOHOR'S I-TECHVALLEY FOR HYATECH'S US$70 MILLION SOUTHEAST ASIAN EXPANSION
The Edge, 11/08/2026
AME Elite Consortium Bhd will construct a 220,000 sq. ft. manufacturing facility in Iskandar Puteri, Johor, for HYA Industry (Malaysia) Sdn Bhd. The facility, situated on a 6.8-acre site within the group's i-TechValley industrial park, will be built via its subsidiary Pentagon Land Sdn Bhd for the Malaysian unit of Shanghai-listed Wuxi Hyatech Co, Ltd. The plant will focus on the research, development, and production of aerospace components and medical orthopaedic implant forgings. The project forms part of Hyatech’s US$70 million (RM312.2 million) overseas expansion across Malaysia and Singapore to strengthen its precision manufacturing footprint within the Johor-Singapore Special Economic Zone (JS-SEZ).
PTT SYNERGY SECURES RM260 MILLION WAREHOUSE DEALS WITH SEKATARAKYAT
The Edge & The Star, 13/08/2026
PTT Synergy Group Bhd's wholly owned subsidiary PTT Development Sdn Bhd (PTTD) has entered into five separate sale and purchase agreements (SPAs) with Koperasi Kakitangan Bank Rakyat Bhd (Sekatarakyat) for a total consideration of RM260 million. Under the agreements, PTTD will sell, while Sekatarakyat will purchase, five industrial warehouse units at RM52 million each upon completion. PTTD will undertake the development and construction of five industrial warehouses on 20 individual parcels of freehold land in Pontian, Johor. The warehouses comprise single-storey industrial warehouse units with mezzanine office space and ancillary facilities, each with a built-up area of 101,567.81 sq. ft.
IHG, KCC HOLDINGS GROUP SIGN AGREEMENT TO OPEN 107-ROOM VOCO MUAR
The Edge, 11/08/2026
Hospitality group IHG Hotels & Resorts has signed a hotel management agreement with KCC Hotel (Muar) Sdn Bhd, a subsidiary of KCC Holdings Group, to open “voco Muar”. The 10-storey, 107-room property marks IHG’s debut in the Johor riverside town and introduces the first international-branded hotel to the destination. Located within KCC City Business Park, the hotel is in advanced stages of construction, with interior design works underway, ahead of its scheduled opening later in 2026. “voco Muar” will feature food and beverage outlets, function and meeting spaces, an infinity pool, a gym, and a grand ballroom.
SARAWAK CONSOLIDATED INDUSTRIES TO CO-DEVELOP HIGH-RISE RESIDENTIAL PROJECT IN SABAH
The Edge, 10/08/2026
Construction and engineering, procurement, construction, and commissioning (EPCC) specialist Sarawak Consolidated Industries Bhd’s (SCIB) wholly owned subsidiary, SCIB Ecobuild Sdn Bhd, has entered into a co-development agreement with Inland World Sdn Bhd to jointly undertake a high-rise residential development in Penampang, Sabah. The proposed development will be undertaken on two parcels of land, measuring about 0.84 acres and 0.811 acres respectively. Under the co-development agreement, SCIB Ecobuild will be entitled to 80% of the project’s net development profit, with Inland World receiving the remaining 20% under the agreed profit-sharing arrangement. The profit-sharing structure reflects the respective roles and responsibilities of the parties under the collaboration.
