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Iconic Group opens Marriott-branded hotel in Penang ahead of Visit Malaysia 2026

Iconic Group opens Marriott-branded hotel in Penang ahead of Visit Malaysia 2026

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Updated:
  • Iconic Penang Sdn Bhd has launched the Iconic Marjorie Penang, a five-star hotel in Bayan Lepas.
  • The hotel features 298 rooms and modern amenities, celebrating Penang’s Baba-Nyonya heritage.
  • This opening aims to boost Penang's tourism ahead of the Visit Malaysia 2026 campaign.
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Semantan Estate’s discovery application dismissed, hearing for compensation also deferred

Semantan Estate’s discovery application dismissed, hearing for compensation also deferred

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Updated:
  • The High Court dismissed Semantan Estate's discovery applications for documents related to land compensation.
  • Judge Roslan noted the government conducted thorough searches but found limited results.
  • The court rescheduled the assessment of damages to April 10, as both parties need time to exchange reports.
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Former KL Tower operator passes first hurdle in court to challenge last year's eviction notice

Former KL Tower operator passes first hurdle in court to challenge last year's eviction notice

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Updated:
  • Menara Kuala Lumpur Sdn Bhd and Hydroshoppe Sdn Bhd will challenge eviction notices in court.
  • The High Court allowed their judicial review against the Federal Lands Commissioner and the government.
  • The case involves allegations of contractual breaches related to the KL Tower concession award.
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Kenanga starts covering Al-Aqar Healthcare REIT for its recession-resistant portfolio

Kenanga starts covering Al-Aqar Healthcare REIT for its recession-resistant portfolio

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Updated:
  • Kenanga Investment Bank has rated Al-Aqar Healthcare REIT as 'outperform' due to its stable cash flows.
  • The REIT's portfolio is growing, with a target asset size of RM2.5 bil by 2028, bolstered by long-term leases.
  • However, risks include tenant concentration, as KPJ Healthcare is the main tenant for 90% of the portfolio.
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BHIC to dispose of Penang shipyard land for RM28 mil, expects RM14.4 mil gain

BHIC to dispose of Penang shipyard land for RM28 mil, expects RM14.4 mil gain

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Updated:
  • Boustead Heavy Industries Corp Bhd is selling three land parcels in Penang for RM28 million.
  • The sale aims to unlock value and generate cash flow, with an expected gain of RM14.39 million.
  • Proceeds will fund working capital, including settling payables and maintaining facilities.
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NCT Alliance expands NCT Smart Industrial Park with RM53 mil land subscription

NCT Alliance expands NCT Smart Industrial Park with RM53 mil land subscription

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Updated:
  • NCT Alliance Bhd is expanding its NCT Smart Industrial Park with a RM53 million land acquisition.
  • The deal will give NCT World a 99.8% stake in Semanja Murni Sdn Bhd, enhancing their industrial ecosystem.
  • The expansion is expected to have a gross development value of RM1.5 billion.
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Ikano Centres to launch new dining hubs at IPC and Toppen, targeting December 2026 opening

Ikano Centres to launch new dining hubs at IPC and Toppen, targeting December 2026 opening

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Updated:
  • Ikano Centres will launch two new dining concepts, IPC Gourmet Hall and Toppen Foodland, in December.
  • These spaces aim to enhance customer engagement and footfall within their IKEA-anchored malls.
  • Initiatives reflect a strategy to create vibrant social hubs, supporting longer visits and repeat customers.
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Magna Prima – OCR Shah Alam JV realigned: RM45 mil land sale marks structural shift in development plan

Magna Prima – OCR Shah Alam JV realigned: RM45 mil land sale marks structural shift in development plan

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Updated:
  • Magna Prima Bhd is investing RM45 million to regain control of a 4.58-acre plot in Shah Alam.
  • The joint venture with OCR Avenue remains active, but the structure has changed, allowing direct control.
  • The site is part of a larger plan for an integrated e-commerce logistics hub valued at RM1.5 billion.
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Citaglobal bags RM150m Navy housing contract in Sabah, order book now at RM1.44b

Citaglobal bags RM150m Navy housing contract in Sabah, order book now at RM1.44b

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Updated:
  • Citaglobal Bhd has secured a RM150 million contract to build military housing in Sabah.
  • The project aims to enhance living standards for Royal Malaysian Navy personnel and is set for completion in 40 months.
  • Citaglobal's order book now totals RM1.44 billion, reflecting recent contract wins in various sectors.
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Aspen Vision City enters next phase with Mezon @ Park Enclave; reinforces Batu Kawan’s township maturity

Aspen Vision City enters next phase with Mezon @ Park Enclave; reinforces Batu Kawan’s township maturity

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Updated:
  • Aspen (Group) Holdings Ltd has unveiled Mezon @ Park Enclave, a new residential project in Batu Kawan.
  • The development features twin towers with 301 units each, designed for both owners and investors.
  • Strategically located near industrial parks, it aims to meet housing demand linked to Penang's growing manufacturing sector.
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