Week 39 - 2025
MITI: JANUARY-AUGUST EXPORTS TOP RM1 TRILLION, ONE MONTH EARLIER THAN IN 2024
The Sun, 20/09/2025
Malaysia recorded higher trade for the first eight months of this year with exports surpassing RM1 trillion, a month earlier compared with 2024. Total trade rose by 3.8% year-on-year (y-o-y) to RM1.98 trillion between January and August, with exports and imports increasing by 3.9% to RM1.03 trillion and 3.6% to RM945.62 billion, respectively. This has resulted in a trade surplus of RM86.07 billion.
However, Malaysia’s August trade eased slightly by 1.9% y-o-y to RM247.07 billion amid shifting global trade conditions, although exports grew for the second consecutive month by 1.9% to RM131.6 billion. Imports declined by 5.9% to RM115.47 billion. This resulted in a trade surplus of RM16.13 billion, the 64th consecutive month of trade surplus since May 2020, and an increase of 153.8% compared to August 2024.
Export growth in August was driven by strong performances in both manufactured and agricultural goods, with agriculture exports rebounding from the negative growth recorded in July. The trade expansion was mainly contributed by electrical and electronic products, followed by machinery, equipment and parts, optical and scientific equipment, as well as palm oil and palm oil-based agricultural products. Exports of optical and scientific equipment recorded their highest value to date.
MALAYSIA REGISTERS 1.3% INFLATION IN AUGUST 2025
The Edge, The Star, The Sun, 23/09/2025
Malaysia’s August inflation picked up slightly, driven by increases in insurance premiums, as well as higher costs of personal care and restaurants. The consumer price index (CPI) rose 1.3% in August when compared to the same month in 2024. Insurance and financial services inflation accelerated to 5.6% in August from 5.5% in July, boosted by a 14.7% surge in hospital benefit insurance premiums, higher motor vehicle insurance charges, and steady motorcycle insurance premiums.
Price gains for restaurants and accommodation services also picked up to 3.5% from 3.1% in July, lifted mainly by accommodation costs. Food and beverages, which account for nearly 30% of the product basket, rose 2% in August compared to 1.9% in July. Food-at-home inflation moderated to 0.1% in August from 0.3% in July, reflecting declines in vegetables, milk, eggs and meat. Dining-out costs were steady, with food-away-from-home inflation unchanged at 4.3%. Inflation for housing, water, electricity, gas and other fuels slowed to 1.2% from 1.3%, following a larger rebate on electricity tariffs under the revised automatic fuel adjustment.
For the full year, headline inflation is projected to remain within the 1.5% to 2.3% range, according to Bank Negara Malaysia’s latest guidance.
ECRL PROJECT AT 87% COMPLETION
The Edge, 22/09/2025
The East Coast Rail Link (ECRL) project spanning four states — Kelantan, Terengganu, Pahang and Selangor — has recorded 87% overall progress as of August 2025. The Terengganu segment is among the fastest to be completed as land issues were resolved earlier, coupled with its flat geographical terrain, which posed fewer construction challenges. The only sections yet to be finished are from Bentong to Gombak, particularly the Genting Tunnel up to Gombak, which is the most challenging segment.
BATIK AIR TO COMMENCE IPOH-SINGAPORE ROUTE IN DECEMBER
The Edge, 23/09/2025
Batik Air Malaysia has announced the launch of the Ipoh-Singapore route on Dec 1, marking a new milestone in the flight network of the Sultan Azlan Shah Airport (LTSAS). With Batik Air operating the route using a Boeing 737 MAX aircraft, Ipoh now has greater connectivity, making it easier for domestic and international travellers to commute to Singapore for business, education and family purposes. The LTSAS recorded 540,000 passengers in 2024, an increase of 4.6% compared to the previous year, and as of May 2025, passenger numbers had reached nearly 220,000. The airport was upgraded for RM8 million in April 2025, increasing its capacity from 240 to 510 passengers per hour, and from 500,000 to 700,000 passengers annually.
SC ESTATE BUILDER INKS RM663 MILLION JV TO DEVELOP KEDAH LAND, EYES RENTAL OR SALE UPON COMPLETION
The Edge, 20/09/2025
Construction outfit SC Estate Builder Bhd entered into a joint-venture (JV) agreement with Vanguard North Sdn Bhd to develop four parcels of land in Kedah into a development of building construction project, with an estimated gross development value of RM663.36 million. The agreement was executed through SC Estate Builder’s wholly owned subsidiary, SC Estate Energy Sdn Bhd (SCEE). The project will include a mix of land plots, units, and building types, subject to authority approvals. Its unit, SCEE, will decide the final layout and appoint developers, contractors, and suppliers. Once completed, the company plans to either rent out the properties in five 30-year terms or sell them, depending on market conditions. SCEE will handle both tenant agreements and sales. SCEE will bear full responsibility for financing and execution of the project. This includes all the costs, expenses, and fees, as well as the total consideration of RM27.29 million payable to Vanguard North for the land.
SUNWAY BUYS MCL LAND FOR RM2.4 BILLION FROM HONGKONG LAND
The Edge, 20/09/2025
Sunway Group is paying S$738.7 million (RM2.4 billion) deal to buy the Singaporean and Malaysian residential development business MCL Land from Hongkong Land Holdings. This deal marks the Malaysian conglomerate's largest deal to date. Sunway will assume ownership of MCL Land and its subsidiaries, including ongoing development projects in Singapore as well as its portfolio of income-generating and development assets in Malaysia. All MCL Land’s ongoing development projects will continue, providing Sunway with immediate earnings visibility from ongoing MCL Land projects. This transaction is expected to close before the end of 2025.
HCK CAPITAL TO DISPOSE OF MAJORITY STAKE IN DENGKIL LAND FOR RM61 MILLION
The Edge, 26/09/2025
HCK Capital Group Bhd is selling a majority stake in a company that owns land in Dengkil, Selangor for RM61 million in cash to streamline its business operations. The property developer is selling a 51% stake in Andaman Daya Sdn Bhd, which owns 14.4 acres of leasehold land in Dengkil, to Sinar Pavilion Sdn Bhd. The disposal is expected to be completed within nine months from when the building plan for the first phase of the development planned atop the land is approved by authorities.
TXCD WINS RM11 MILLION ARCHITECTURE JOB
The Star, 26/09/2025
TXCD Bhd has secured a contract from R & C Cergas Teguh Sdn Bhd to install and complete structure and architecture works for a project at Lorong Raja Uda 2, Kuala Lumpur, worth RM11.24 million. The sub-contract works comprises the supply of material, labour, tools and machinery. The sub-contract period will commence on Oct 1, 2025 and be completed on Aug 24, 2026.
MERIDIAN BAGS RM40.5 MILLION CONTRACT FOR CIVIL SERVANTS HOUSING IN KEDAH
The Edge, 20/09/2025
Property developer Meridian Bhd, a Practice Note 17 company, has secured a RM40.5 million contract for a government-backed civil servants’ housing project in Kuala Muda, Kedah. The contract was secured from Kejora Harta Bhd and involves the construction of 140 double-storey terraced homes. The two-year job covers main building works, demolition of existing structures, piling, and associated external and infrastructure works.
INTA BINA SECURES RM40.6 MILLION HOUSING CONSTRUCTION JOB FROM ECO MAJESTIC
The Edge, 26/09/2025
Inta Bina Group Bhd has secured a RM40.6 million contract to construct 128 two-storey terrace houses within a gated and guarded development at Beranang in Selangor's Hulu Langat district. The contract was awarded to the group’s wholly owned subsidiary, Inta Bina Sdn Bhd, by Eco Majestic Development Sdn Bhd. The contract, spanning 20 months, is scheduled to commence on Oct 8.
TXCD BAGS FRESH CONSTRUCTION CONTRACT IN SEPANG AFTER PREVIOUS DEAL SCRAPPED
The Edge, 23/09/2025 & The Star, 26/09/2025
TXCD Bhd, formerly known as Ageson Bhd, has secured a new RM75.86 million contract in Sepang, Selangor, after mutually terminating an earlier agreement with Mateen Group. Its wholly-owned unit Ageson Kensetsu Sdn Bhd was awarded the contract by Golden Chain Development Sdn Bhd to carry out piling and building works for a serviced residence and small office/home office (SOHO) project at Kampung Limau Manis, a Malay reserve land near Putrajaya. The new contract follows the termination of a RM75.67 million contract awarded by Mateen Group in June last year, which covered the same scope of works and location. The termination, effective immediately, was requested by Mateen Group after Golden Chain was appointed as the project’s new developer. Under the new contract, Ageson Kensetsu will provide labour, materials, tools, equipment and machinery for the project. The job is expected to run for 30 months from the date building plan approval is obtained.
TOPPING OUT MARKS PROGRESS FOR COVO IN 16 SIERRA TOWNSHIP
The Edge, 24/09/2025
IOI Properties Group Bhd marked a construction milestone with the topping out of COVO on Sept 19, which is its first transit-oriented development in the 16 Sierra township in Puchong South. The RM367 million COVO features 601 serviced apartment units across a 38-storey high-rise (Tower A) and a low-rise residential block (Tower B). Launched in May 2024, COVO offers units ranging from 550 to 1,130 sq. ft. in 1+1, three- and four-bedroom configurations. The selling prices start from RM250,000 to RM696,000. COVO have seen encouraging response and strong demand for the project with a take-up rate of 65% to date. Tower B is fully sold and Tower A is selling fast, with the project ahead of scheduled construction at 68% progress, with completion on track for May 2027.
COVO is IOIPG’s first GreenRE-certified high-rise and includes electric vehicle charging bays and car park access at the doorstep for selected units. COVO is part of the 535-acre 16 Sierra township, a master-planned development with green mobility, recreational facilities and proximity to expressways and IOI City Mall. It is located just 100m from the 16 Sierra MRT station, connected by a covered walkway.
WARISAN TRADISI APPOINTS COBNB AS OPERATOR FOR THE SKIES KUALA LUMPUR
The Edge, 26/09/2025
Warisan Tradisi Sdn Bhd has named CoBnB Sdn Bhd as the primary short-term rental and co-living operator for its latest serviced apartment project, The Skies Kuala Lumpur (The Skies). Warisan Tradisi is the developer of The Skies, while CoBnB is a technology-driven short-term rental and property management firm with a nationwide presence in Malaysia.
The Skies is a 42-storey serviced apartment development located on Jalan Cheras, comprising 303 units ranging from 550 to 800 sq. ft. The project features dual-key layouts, smart-home features and premium facilities such as a rooftop sky pool, sky gym, floating cinema, halotherapy sauna and EV charging stations. Completion is targeted for early 2029. The Skies is the final phase of Warisan City View’s urban development in the area, following the construction of 13 residential towers since 1996.
AYER HOLDINGS SECURES FULL TAKE-UP OF BUKIT PUCHONG BOULEVARD, UNVEILS PHASE 2
The Edge, 26/09/2025
Ayer Holdings Bhd has recorded a full take-up for all 54 units at Bukit Puchong Boulevard within 11 months of launch and is moving ahead with the second phase of the commercial precinct. The freehold project, launched in September 2024, comprises two- and three-storey shop offices ranging from 3,520 sq. ft. to 9,504 sq. ft. It has a gross development value (GDV) of RM139.7 million. The selling prices at launch for intermediate units were from RM2.238 million, end-lot units from RM3.453 million and corner units from RM6.111 million. Units feature 19 ft ceilings for mezzanine floors, rooftop spaces for outdoor use and full-glass frontages. The unveiled Bukit Puchong Boulevard 2 is expected to extend the commercial footprint with new shop offices that carry the same design hallmarks and connectivity.
PWF CORP UNIT TO ACQUIRE 14 SHOP-OFFICES WORTH RM27.8 MILLION IN DAMANSARA
The Edge, 26/09/2025
PWF Corporation Bhd’s wholly owned subsidiary PWF Timberhill Sdn Bhd is acquiring 14 units of shop-offices worth RM27.8 million. The subsidiary has entered into 14 sale and purchase agreements (SPAs) with TWL USJ Heights Sdn Bhd for the properties located in Damansara, Selangor.
MAYLAND MAKING A COMEBACK WITH RM1.15 BILLION IN LAUNCHES
The Edge, 20/09/2025
Malaysia Land Properties Sdn Bhd (Mayland) unveiled two upcoming residential projects in Kuala Lumpur — Majestic @ Kiara Reserve (Majestic Kiara) in Desa Sri Hartamas and Royal Garden, the fourth phase of the Sri Putramas master plan, on Jalan Kuching. The projects have a combined gross GDV of RM1.15 billion.
Majestic Kiara is a freehold, 4.8-acre residential development in Desa Sri Hartamas featuring villas, parkhomes and condominiums. The project, which has a GDV of RM551 million, will be developed in two phases, with the first comprising 79 villas and 57 parkhomes, set for launch in 4Q25.
Located off Jalan Kuching, Royal Garden marks the fourth and final phase of the larger Sri Putramas high-rise master plan. The 2.3-acre freehold Royal Garden has a GDV of RM600 million. The development will offer 600 condominium units across two adjoining, L-shaped 30- and 31- storey towers.
PESONA METRO WINS RM666 MILLION CONTRACT FROM TA GLOBAL TO BUILD SHOPPING MALL, OFFICE TOWER
The Edge, 26/09/2025
Pesona Metro Holdings Bhd bagged a RM666 million contract from TA Global Bhd to build a shopping mall and an office tower in Bandar Sri Damansara, Petaling Jaya. The project, which has a tenure of 30 months from Sept 18, involves the main building works for DA Central Mall and The Arden office tower in property developer TA Global's 48-acre Damansara Avenue development in Bandar Sri Damansara.
The shopping mall development consists of two basement levels of car park, a six-storey commercial podium, a five-storey commercial podium, pedestrian link bridges connecting to Ativo Suites, Ativo Plaza and Sri Damansara Sentral MRT Station, as well as a vehicular ramp to Ativo Plaza. Known as Phase 1A, it also includes a nine-storey podium and car park levels as well as a one-storey serviced apartment facilities to be constructed later. The Arden is a 40-storey office tower, including four storeys of facilities located at Levels 2 to 4, as well as at the roof level.
ECOWORLD, SD GUTHRIE COMPLETE RM573 MILLION LAND DEAL TO KICK OFF NEGERI SEMBILAN INDUSTRIAL PARK
The Edge, 25/09/2025 & The Star, 26/09/2025
The planned RM2.95 billion industrial park in Negeri Sembilan is set to begin development following the completion of the acquisition of 1,195 acres of land in Port Dickson. Eco Business Park 7 Sdn Bhd (EBP 7) has completed the acquisition of the freehold land from SD Guthrie for RM572.76 million cash. The transaction comes five months after the sale and purchase agreement was signed on April 18, 2025. EBP 7 is 55% owned by Eco World Development Group Bhd, 30% by SD Guthrie, and 15% by Negeri Sembilan state agency NS Corporation. With the deal concluded, EBP 7 will proceed with developing an integrated industrial park with supporting commercial hubs on Parcel C of Malaysia Vision Valley 2.0 (MVV 2.0), the west coast economic corridor of Peninsular Malaysia.
Strategically located within MVV 2.0, the industrial park will be connected to major infrastructure and logistics hubs — including Kuala Lumpur International Airport, Port Klang, Nilai and the PLUS Highway — via the proposed Nilai-Labu Expressway. MVV 2.0, launched in December 2018, spans 380,000 acres across Seremban and Port Dickson and is designed to complement the growth of Greater Kuala Lumpur.
NEGERI SEMBILAN TO DEVELOP RM1 BILLION AUTO CITY PROJECT
The Edge, 23/09/2025
Negeri Sembilan will establish its first modern automotive hub through the RM1 billion Auto City project at Nilai Smart City, covering 728.43 hectares (1,800 acres). The first phase of the high-impact project, which began in September, is expected to create more than 5,000 jobs across technical, service, logistics, marketing and management fields. Auto City will serve as a modern automotive hub featuring vehicle showrooms, spare parts outlets, service centres, automotive aesthetic treatment facilities and lifestyle spaces driven by technology.
Nilai Smart City is also aligned with the Malaysia Vision Valley aspirations to drive high-value investments, advanced technology and sustainable development in Negeri Sembilan. Nilai’s dynamic regional ecosystem would boost its rise as a new growth hub, especially with the Nilai-Labu-Enstek Expressway to the Kuala Lumpur International Airport (KLIA) due for completion in July 2026. Nilai’s strategic location near KLIA and Putrajaya made it both a gateway for mobility and an administrative centre, further bolstering investor confidence in Negeri Sembilan.
TFST REVIVES 1,260 SICK AND ABANDONED HOUSING PROJECTS WORTH RM121.44 BILLION
The Sun, 24/09/2025
The Sick and Abandoned Private Housing Project Task Force (TFST) has recorded significant achievements since its establishment in 2023 by reviving 1,260 private housing projects involving 150,968 units with a Gross Development Value of RM121.44 billion. For this year alone, 325 sick and delayed housing projects involving 36,922 units with a GDV of RM28.85 billion have been revived. Eight abandoned housing projects involving 1,299 housing units with a GDV of RM109.05 million were also fully resolved, either through project completion up to obtaining the Certificate of Completion and Compliance or via other agreed settlement methods.
As of August 31, TFST recorded 144 private housing projects with delayed status, 345 sick projects and 108 abandoned projects nationwide. These figures reflect positive development, with sick projects reduced from 360 as of June 30 to 345, delayed projects falling to 144 compared with 233 previously, and abandoned projects decreasing slightly from 109 to 108.
To ensure close monitoring, TFST also conducted regular site visits, with 34 projects inspected last year, while from January 1 to August 31, 2025, a total of 26 projects have been visited. TFST will continue to serve as the main platform in tackling problematic housing projects by proposing practical and effective solutions.
TSLAW LAND’S SKYLINE (EASTSIDE) ONE SENTOSA SEES OVER 70% TAKE-UP IN DEBUT LAUNCH
The Edge, 26/09/2025
TSLAW Land’s debut project in Johor Bahru, Skyline (Eastside) One Sentosa, has achieved a take-up rate of over 70% following its official launch in July 2025. The RM1.152 billion Skyline (Eastside) is part of the One Sentosa redevelopment, which is sited on a 7.7-acre freehold site in Taman Sentosa, formerly home to Plaza Sentosa and whereby Skyline (Eastside) takes up 2.86 acres. It features two towers — the 58-storey Aloft Tower and 60-storey Baymont Tower — comprising 1,623 serviced apartments across six layouts ranging from 430 to 968 sq. ft. Type E and Type F units in the Aloft Tower include dual-key configurations, designed to appeal to both investors and owner-occupiers.
Skyline (Eastside) residents will have access to over 40 lifestyle facilities spread across four zones, including a 60th floor Sky Lounge, Sky Bar, co-working space, golf simulator, mini theatre, spin room, gym and a 50m lap pool. Peninsula Home will manage concierge services across all residences, with complimentary conveniences such as parcel handling, shuttle services to the RTS station and nearby amenities, and optional on-demand services including cleaning, air-conditioning servicing, and event space access.
One Sentosa is located approximately 4km from the upcoming RTS Bukit Chagar station. A strategic partnership has also been formed with Jaya Grocer, which will operate within the development’s retail podium. Skyline (Eastside) One Sentosa is the fourth project in TSLAW Land’s Skyline Series, and its first in Johor Bahru.
PARAMOUNT CORPORATION TO OPEN NINTH CO-WORKING SPACE IN JOHOR THIS NOVEMBER
The Edge, 26/09/2025
Paramount Corporation Bhd plans to launch its ninth Co-labs Coworking location at Mid Valley Southkey in Johor this November, its first expansion outside the Klang Valley. The 14,000 sq. ft. space in Johor will mirror the KL Sentral branch, which became profitable within just three months and has reached over 50% occupancy.
EQUALBASE-SUNWAY JV SIGNS GXO FOR FULL TENANCY AT 103° FREE COMMERCIAL ZONE IN JOHOR
The Edge, 22/09/2025 & The Star, 23/09/2025
Equalbase Development Pte Ltd and Sunway Group, joint-venture partners behind the 103° Free Commercial Zone (FCZ), have signed a long-term lease agreement with GXO Logistics Inc for the entire 720,000 sq. ft. warehouse facility at Phase 1 of the 103° FCZ in Sunway City, Iskandar Puteri, Johor. Located within the Johor-Singapore Special Economic Zone (JS-SEZ), the GXO facility is designed to meet international standards in health, safety, compliance and sustainability. The development’s Phases 2 and 3 are under construction and will feature multi-storey logistics facilities. The facility under construction will serve as GXO’s regional logistics hub, supporting supply chain operations for its customers across Southeast Asia.
The 103° FCZ project is jointly developed through a strategic partnership between Singapore-based Equalbase and Malaysia’s Sunway Group. It is sited on 55 hectares with a gross development value of RM8 billion. With GXO’s entry, both Warehouses 1 and 2 under Phase 1 are now fully leased. The lease enables GXO to offer duty-free logistics solutions and enhanced cross-border trade with Singapore. The overall project is expected to create thousands of jobs in Johor, including roles in operations, supply chain management and green logistics services.
Equalbase has had a presence in Malaysia since 2011 and has delivered large-scale logistics facilities in Johor and Penang. In 2022, it became the first Singaporean real estate firm to co-own a free commercial zone through its joint venture with Sunway.
CHIN HIN GROUP PROPERTY SELLS JOHOR INDUSTRIAL LAND
The Edge, 23/09/2025
Chin Hin Group Property Bhd is disposing of two freehold industrial plots in Johor Bahru for RM19.3 million cash to Miroad Rubber Industries Sdn Bhd. The properties comprise a vacant 3.34-acre light industrial parcel and a 2.20-acre plot with a detached workshop and office. Both parcels are located in Kampung Kangkar Tebrau. Although the disposal price is below the combined market valuation of RM28.8 million as at February 2025, the sale is reasonable. Barring unforeseen circumstances, the disposal is expected to be completed by June 2026.
CBH ENGINEERING BAGS RM31 MILLION MECHANICAL AND ELECTRICAL JOB FOR JOHOR DATA CENTRE PROJECT
The Edge, 22/09/2025 & The Star, 23/09/2025
CBH Engineering Holding Bhd has secured a RM31.4 million contract to provide mechanical and electrical works for a proposed data centre project in Johor. The scope of works covers the supply, installation, testing and commissioning of mechanical and electrical systems for a 132kV consumer landing station that will serve the data centre.
PENANG SECURES RM1.85 BILLION IN CHINESE MANUFACTURING INVESTMENTS IN 1H25
The Edge, 20/09/2025
Penang recorded RM1.85 billion in approved manufacturing investments from China in 1H25. This accounts for nearly 15% of the state’s total RM12.54 billion in manufacturing investments during the period, with 12 China-linked projects expected to create approximately 1,532 new job opportunities. In 2024, China was Penang’s second-largest trading partner, contributing 15.6% of the state’s total exports. A key milestone this year is the groundbreaking of INV New Material Technology (M) Sdn Bhd’s first plant in Malaysia, located in Penang Technology Park, Bertam.
PENANG ANNOUNCES INCREASE IN LAND TAX STARTING JAN 1, 2026
The Edge & The Star, 20/09/2025
The Penang government has gazetted new land tax rates effective from Jan 1 next year, involving nearly 370,000 land titles across the state. The new land tax rate was approved by the National Land Council 2024 and that the review would only be conducted every 10 years, with the new rate remaining unchanged without any increase during that period until a new review is carried out. The percentage increase for the rural housing category was 127.27% and for urban areas 29.63%, while for the industrial category, the increase for urban areas was 151.94% and for rural areas 200.93%.
The announcement was made under Section 101 of the National Land Code (Act 828) through the Penang State Government Gazette No 37 dated Sept 11, but the land tax review does not involve 300,000 strata parcel tax accounts and they will continue to pay strata parcel tax at the existing rate.
PHARMANIAGA BUYS RM30 MILLION PENANG PROPERTY TO STRENGTHEN LOGISTICS CAPACITY
NST & The Edge, 20/09/2025
Pharmaniaga Bhd is acquiring a freehold factory and office building in Seberang Perai Selatan, Penang, for RM30 million as part of its strategy to expand logistics and distribution capacity in the northern region of Peninsular Malaysia. Its wholly-owned unit Pharmaniaga Logistics Sdn Bhd had entered into a sale and purchase agreement (SPA) with NH Development Sdn Bhd on Sept 12 for the acquisition of the property, which sits on 2.7-acre of land.
