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Penang gazettes 15 heritage sites this year

Penang gazettes 15 heritage sites this year

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Updated:
  • Penang has gazetted 50 cultural heritage items this year to preserve its cultural treasures.
  • This includes 15 heritage sites, 7 intangible elements, and 28 local food items.
  • The state aims to elevate its heritage for potential UNESCO recognition by 2026!
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ETA Group to acquire Bandar Sri Damansara industrial property for RM16.5 mil

ETA Group to acquire Bandar Sri Damansara industrial property for RM16.5 mil

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Updated:
  • ETA Group Bhd is acquiring a freehold industrial property in Selangor for RM16.5 mil in cash.
  • The property includes land, a five-storey building, and a basement car park.
  • Despite economic challenges, Malaysia's growth is projected at 4%-5% in 2026, supported by domestic demand.
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Kuala Lumpur luxury hotel transactions rise 14% as Asia Pacific deal volumes hit US$2.1 bil in 2025, says JLL

Kuala Lumpur luxury hotel transactions rise 14% as Asia Pacific deal volumes hit US$2.1 bil in 2025, says JLL

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Updated:
  • Kuala Lumpur's luxury hotel transactions reached RM660 mil from 2023 to 2025, a 14% rise post-pandemic.
  • Luxury segment's share of total hotel transactions grew from 26% to 30%, driven by high-profile acquisitions.
  • JLL anticipates strong investor interest in luxury hotels, supported by tourism recovery and upcoming events.
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LSH Capital accepts RAC offer for 17.4-acre Selangor land development

LSH Capital accepts RAC offer for 17.4-acre Selangor land development

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Updated:
  • Lim Seong Hai Capital Bhd has accepted an offer for two land parcels in Selangor totaling 17.4 acres.
  • Despite a 13.8% drop in net profit, the company continues to expand its development pipeline.
  • Strong construction order book and property pipeline are expected to ensure earnings visibility through 2029.
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Matrix Concepts’ FY2026 revenue rises 18%, profit before tax up 8%

Matrix Concepts’ FY2026 revenue rises 18%, profit before tax up 8%

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Updated:
  • Matrix Concepts Holdings Bhd reported a 3.9% rise in net profit to RM223.26 mil for FY2026.
  • Revenue increased 18.2% to RM1.36 bil, driven by property development and other segments.
  • The group declared a total dividend of 6.1 sen per share, down from 7.95 sen in FY2025.
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UOA Group co-founder CS Kong passes away

UOA Group co-founder CS Kong passes away

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Updated:
  • UOA Group co-founder CS Kong has passed away at 85 on May 27, 2026.
  • Kong Pak Lim will temporarily take over as managing director until a new appointment.
  • He significantly contributed to UOA Development's growth and success over his 42-year career.
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Train derails near Chan Sow Lin station; Rapid KL activates alternative plan

Train derails near Chan Sow Lin station; Rapid KL activates alternative plan

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Updated:
  • An LRT train derailed on the Ampang/Sri Petaling Line near Chan Sow Lin station due to a faulty track switch.
  • Rapid KL has implemented free shuttle services and alternative train routes to assist affected commuters.
  • All 25 passengers were safely evacuated, and no injuries were reported during the incident.
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US seizes luxury apartment bought with 1MDB funds for Jho Low’s aide

US seizes luxury apartment bought with 1MDB funds for Jho Low’s aide

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Updated:
  • US authorities have secured a court order to seize a luxury NYC apartment linked to 1MDB funds.
  • The case aimed to recover over US$6 mil in assets misappropriated from the Malaysian fund.
  • Former PM Najib Razak was sentenced to 12 years for his role in the scandal, now reduced to six years.
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JAKS’ Vietnam JV lifts 1Q profit as construction, property investment showed mixed operational trends

JAKS’ Vietnam JV lifts 1Q profit as construction, property investment showed mixed operational trends

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Updated:
  • JAKS Resources reported higher contributions from its Vietnam power JV, offsetting weaker property results.
  • The construction division showed a smaller loss, while the power-energy segment turned profitable.
  • JAKS aims to grow through its power division and renewable energy projects, while enhancing property yields.
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