Category Archives: Corporate Highlights

Kuala Lumpur Local Plan 2040 to be displayed to public in January 2024

UAE-based DAMAC Group is set to invest RM250 million in establishing a data center in Cyberjaya, Malaysia, targeting both retail and enterprise customers. The group is actively expanding its data center ventures and has secured land for similar projects in Indonesia and Thailand.

The Prime Minister affirmed that the government’s backing and the creation of the Automotive High Tech Valley underscore Malaysia’s dedication to promoting investment prospects in the advanced automotive industry. This project, led by Zhejiang Geely Holding Group in partnership with DRB-Hicom, aims to transform Tanjung Malim into a global hub for new energy vehicles, focusing on talent development, research, and urbanization.

The Prime Minister affirmed that the government’s backing and the creation of the Automotive High Tech Valley underscore Malaysia’s dedication to promoting investment prospects in the advanced automotive industry. This project, led by Zhejiang Geely Holding Group in partnership with DRB-Hicom, aims to transform Tanjung Malim into a global hub for new energy vehicles, focusing on talent development, research, and urbanization.

Malaysia has improved its ranking in the 2023 Global Financial Inclusion Index, moving up to 18th place from 20th in the previous year. This advancement is attributed to increased government and financial system support, coupled with advancements in the digital economy.

Sunway Bhd embarks on an exciting partnership with Penang Development Corporation (PDC) to transform 559 acres of prime industrial land in Batu Kawan, Penang. This strategic venture, in collaboration with Umech Land Sdn Bhd, promises to bring innovation and prosperity to the region, with a minimum gross development value of RM3.5 billion.

Malaysia’s property market in H1 2023 recorded RM85.37 billion in transactions, with residential properties dominating, accounting for over 60% of volume and nearly 53% of value. Deputy Finance Minister Datuk Seri Ahmad Maslan expressed cautious optimism for H2 2023, citing government initiatives and economic growth.

Bank Negara Malaysia has decided to keep its overnight policy rate (OPR) at 3% in line with market expectations, aiming to support the economy and align with inflation and growth assessments. BNM relies on domestic factors such as robust employment opportunities and increased investments to drive economic growth for a striving balanced and resilient economic trajectory.

Aneka Jaringan Holdings Bhd’s subsidiary, Aneka Jaringan Sdn Bhd, has secured a significant RM35 million contract from Sena Letrik (M) Sdn Bhd. The contract encompasses vital piling, earthworks, and substructure work for a forthcoming 31-story medical center located in Desa Sri Hartamas, Kuala Lumpur.

Kuala Lumpur City Hall (DBKL) announced a ban on adding internal walls for new bedrooms in strata-status residential and commercial buildings effective from August 1st.