Magma to acquire LUMA Hotel in Kota Kinabalu for RM61m in cash-and-shares deal

Magma to acquire LUMA Hotel in Kota Kinabalu for RM61m in cash-and-shares deal

news

Updated:
  • Magma Group Bhd plans to acquire the LUMA Hotel in Kota Kinabalu for RM60.9 million.
  • The deal includes 100% equity in HH Home Hotel Sdn Bhd and four buildings, enhancing its hotel portfolio.
  • Magma aims to strengthen recurring income and growth potential through this strategic investment.
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Malaysia hosts 30th EAROPH World Congress in Melaka, KPKT sec-gen appointed organisation president

Malaysia hosts 30th EAROPH World Congress in Melaka, KPKT sec-gen appointed organisation president

news

Updated:
  • Malaysia is hosting the 30th EAROPH World Congress in Melaka until April 26, 2023.
  • The event focuses on urban infrastructure management and features key speakers and discussions.
  • KPKT's Datuk Wira Dr M Noor Azman Taib was appointed EAROPH president for 2026-2028.
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JLL Malaysia secures 15,000 sq ft lease at Pavilion Bukit Jalil for North America's ACTIVATE, marking brand's first Asian outlet

JLL Malaysia secures 15,000 sq ft lease at Pavilion Bukit Jalil for North America's ACTIVATE, marking brand's first Asian outlet

news

Updated:
  • JLL Malaysia has secured a 15,000 sq ft lease for ACTIVATE at Pavilion Bukit Jalil, opening May 2.
  • This will be ACTIVATE's first Asian outlet, featuring tech-driven gaming experiences.
  • Deal highlights a trend in Malaysia's retail sector towards experiential entertainment to attract families.
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EcoWorld sells last two parcels at QUANTUM Edge, Kulai to hyperscale data centre operator for RM280.8 mil

EcoWorld sells last two parcels at QUANTUM Edge, Kulai to hyperscale data centre operator for RM280.8 mil

news

Updated:
  • Eco World Development Group has sold two industrial land parcels at QUANTUM Edge for RM280.8 million.
  • The sale, covering 49.588 acres, completes the disposal of all industrial land at the business park.
  • This deal boosts EcoWorld's FY2026 sales, achieving 52% of its target in just four months!
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Chow: State govt not involved in Mutiara Line LRT Package 2 contractor selection

Chow: State govt not involved in Mutiara Line LRT Package 2 contractor selection

news

Updated:
  • The Penang government is not involved in selecting the contractor for the Mutiara Line LRT project.
  • Chief Minister Chow Kon Yeow stated that evaluations are ongoing and no offers have been made yet.
  • Additionally, he addressed water concerns, suggesting measures to manage the declining levels in Sungai Muda.
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Cahya Mata Sarawak posts lower FY2025 profit on Oiltools slump and Phosphates costs, but property arm surges 50% on convention centre contract

Cahya Mata Sarawak posts lower FY2025 profit on Oiltools slump and Phosphates costs, but property arm surges 50% on convention centre contract

news

Updated:
  • Cahya Mata Sarawak Bhd reported a 48.8% profit drop to RM65.7 million for FY2025 due to losses in Oiltools.
  • Revenue fell 7.3% to RM1.11 billion, but the Property Development SBU saw a 49.8% revenue surge from BCCK 2.
  • The group anticipates a recovery in FY2026, driven by the Phosphates plant and ongoing construction projects.
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Johor’s proximity to Singapore remains key to drive data centre investments, credit rating firm director says

Johor’s proximity to Singapore remains key to drive data centre investments, credit rating firm director says

indepth

Updated:
  • Johor's location near Singapore boosts data centre investments despite rising costs, says Ng Yijing.
  • Land availability and extensive subsea cables keep Johor competitive, even as costs rise.
  • Policy changes are steering development towards higher-tier data centres, easing oversupply concerns.
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Battersea Power Station lines up immersive art and family activities for May half-term

Battersea Power Station lines up immersive art and family activities for May half-term

news

Updated:
  • Battersea Power Station will host immersive art installations from May 23 to 31, including Luxart.
  • Interactive A Line Florist installation by Anna Bruder allows visitors to create personalised flower artworks.
  • The riverside area will feature markets and attractions, including shops, restaurants, and a glass elevator.
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PRG's construction arm takes 12 Picasso Residence units to partially recover RM37 mil debt

PRG's construction arm takes 12 Picasso Residence units to partially recover RM37 mil debt

news

Updated:
  • PRG Holdings' subsidiary will accept 12 condo units as partial payment for a RM37.17 million debt.
  • The units, valued at RM13.73 million, will help recover outstanding construction fees owed by the developer.
  • The settlement is expected to finalise in 2Q2026, with no cash outlay required from PRG.
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MACC seizes properties worth RM18.4m in NGO fund probe

MACC seizes properties worth RM18.4m in NGO fund probe

news

Updated:
  • The Malaysian Anti-Corruption Commission seized assets worth RM18.36 million in a fund misappropriation case.
  • This includes 14 properties, such as seven residential units and three office units.
  • Two men, including the NGO's deputy chairman, have been arrested to assist with the investigation.
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Magma to acquire LUMA Hotel in Kota Kinabalu for RM61m in cash-and-shares deal