Daily Digest · Thursday, 18 June 2026· Updated: about 7 hours ago
Land-backed moves drive the day: MRCB goes digital; Beshom cashes out
Two land-backed corporate moves anchor today's digest: MRCB turning part of its Bukit Jalil land bank into a 65MW AI-ready data centre with a long-term operator, and Beshom monetising industrial land in Klang at well above book value. The window covers roughly the past 24 hours through this morning. Plus briefs on the Tanco share rout, the Johor elevated ART and the works minister on building costs.
Quick takes
- MRCB is moving into digital infrastructure, with subsidiary Bukit Jalil Sentral Property to develop a RM2.1 billion, 65MW AI-ready data centre in Bukit Jalil, with Perintis Akal as long-term tenant and operator under a proposed 10-year lease.
- Beshom Holdings is selling three parcels of freehold industrial land in Klang totalling 14.58 acres to JT Development for RM85.80 million in cash, expected to book a pro forma gain of approximately RM52.78 million.
- Tanco Holdings has shed approximately RM9 billion in market value since June 8; its managing director continued to trade in the stock between June 11 and June 16 after the company responded to Bursa Malaysia's unusual market activity query, stating that operations remained normal.
- Johor's proposed elevated autonomous rapid transit will be developed under a public-private partnership overseen by Ukas, with a letter of award pending a final assessment, Transport Minister Anthony Loke Siew Fook said.
- Works Minister Datuk Seri Alexander Nanta Linggi said construction material cost increases remain manageable and are being absorbed by contractors, with no project delays or extra allocations needed for now.
MRCB enters data centre space via collaboration to develop RM2.1 billion Bukit Jalil facility
Malaysian Resources Corp Bhd (MRCB) is entering the data centre space via a collaboration to develop an artificial intelligence-ready facility in Bukit Jalil, Kuala Lumpur, with an estimated gross development cost of RM2.1 billion, according to a statement on June 16 reported by The Star, New Straits Times, and Free Malaysia Today. Its wholly owned subsidiary Bukit Jalil Sentral Property Sdn Bhd (BJSP), held through MRCB Land Sdn Bhd, has signed a collaboration agreement with Perintis Akal Sdn Bhd (PASB), a wholly owned subsidiary of PEMANDU Partners International PLT.
BJSP, which owns the 37,320 sq metre (approximately 9.22-acre) site, will act as asset owner and master developer, while PASB will be the long-term tenant and operator under a proposed 10-year lease, MRCB said. Free Malaysia Today reported that PASB has partnered Inspur Communication Malaysia Sdn Bhd, a Chinese cloud computing and big data services provider, for the construction, commissioning, maintenance and operation of the facility. The parties expect to finalise and execute definitive agreements by the third quarter of 2026, with the facility targeted for completion by the fourth quarter of 2027.
The facility carries 65MW of IT load capacity. MRCB group managing director Datuk Imran Salim said the project will provide a steady stream of long-term recurring income through the lease structure and lift the asset value of the group's Bukit Jalil land, adding that MRCB has received multiple expressions of interest for the 65MW capacity, pointing to scope for further data centre development on the remaining land bank. The move builds on MRCB's acquisition in September 2025 of the Employees Provident Fund's 80% stake in BJSP for RM1.58 billion, which gave it full control of the Bukit Jalil Sentral land valued at approximately RM2.06 billion and previously flagged as a possible data centre site, as reported by The Edge Malaysia.
Why it matters
The collaboration turns part of MRCB's Bukit Jalil land bank into a long-term, income-producing asset and marks the group's entry into a sector drawing heavy institutional demand. A 10-year lease provides recurring income to set against lumpy property development earnings, and management's reference to further offtake interest signals that more of the Bukit Jalil Sentral site could follow.
Beshom sells 14.58 acres of Klang industrial land for RM85.80 million
Beshom Holdings Bhd, the holding company for the Hai-O group, said its wholly owned subsidiary Hai-O Enterprise Bhd has entered into a sale and purchase agreement to dispose of three parcels of freehold industrial land in Klang, Selangor for RM85.80 million in cash, according to a Bursa Malaysia filing on June 16 reported by The Edge and detailed by EdgeProp on June 17. The buyer is JT Development Sdn Bhd, a building construction firm incorporated in May 2024 whose sole director and shareholder is Tan Chee Chuan.
The land measures approximately 14.58 acres, or 58,994 sq metres, at Mukim Kapar, along Jalan Kapar and opposite the Grand Sepadu Highway toll plaza, with access to North Port, Port Klang and the West Coast Expressway near established estates such as Bukit Raja Industrial Park. It comprises three parcels of 6.74 acres, 3.92 acres and 3.92 acres, carved from a larger 29.73-acre site that Hai-O acquired in 2008. An independent valuation by KGV International Property Consultants dated June 4, 2026 put the land at RM85.80 million, against an audited net book value of RM26.075 million as at April 30, 2025.
The disposal is expected to yield a pro forma gain of approximately RM52.78 million and, on the company's figures, to lift pro forma net assets per share from RM1.03 to RM1.21 and earnings per share from 2.78 sen to 20.40 sen. Beshom plans to use the proceeds for a new warehouse, working capital, a replacement TNB substation and related infrastructure, refurbishment of existing property, and real property gains tax. Affin Hwang Investment Bank is the principal adviser. Completion is targeted for the first quarter of 2027, subject to approvals from the Ministry of Economy, relevant planning authorities and Beshom shareholders at an extraordinary general meeting.
Why it matters
The sale lets Beshom convert long-held industrial land into cash at well above book value, funding a new warehouse and working capital for its herbal and consumer business. The buyer is a small, recently incorporated builder, and completion remains subject to regulatory and shareholder approvals, so the gain is not yet locked in.
Also on the radar today
Tanco managing director keeps trading as share rout deepens
Tanco Holdings Bhd group managing director Datuk Seri Andrew Tan Jun Suan continued to trade in the stock between June 11 and June 16 after the company responded to Bursa Malaysia's unusual market activity query, stating that operations remained normal, according to The Edge Malaysia. Filings showed he bought approximately 82.5 million shares and sold approximately 96.4 million over that period, lifting his direct stake to 20.03% while his vehicle TJN Capital's holding eased to 33.32%. Tanco, whose projects include the Smart AI Container Port and the Port Dickson Free Zone in Negeri Sembilan, has shed approximately RM9 billion in market value since June 8, according to The Edge Malaysia, after peaking near RM1.76 earlier in the month, and had responded to a second unusual market activity query from Bursa Malaysia. The stock closed at 15 sen on June 16.
Johor elevated ART to proceed under public-private partnership
The proposed elevated autonomous rapid transit (E-ART) system for Johor Bahru will be developed under a public-private partnership overseen by the Public Private Partnership Unit (Ukas), rather than through a Ministry of Transport tender process, Transport Minister Anthony Loke Siew Fook said after launching the Shuttle Selatan service at Kulai on June 16, as reported by The Edge, The Sun and EdgeProp. Loke said Ukas is making a final assessment of technical, pricing and proposal aspects before a letter of award is issued. The trackless, rubber-tyred system on a dedicated elevated guideway is intended to disperse traffic once the Johor Bahru–Singapore RTS Link opens, expected in 2027. Johor Menteri Besar Onn Hafiz Ghazi urged the federal government to accelerate the project, while Ayer Hitam MP Wee Ka Siong called for a direct allocation of at least RM10 billion to the state if no firm timeline is given, The Star reported.
Works minister says material cost rises remain manageable
Construction material cost increases tied to global energy and supply chain pressures remain at a manageable level and are being absorbed by contractors without project delays, Works Minister Datuk Seri Alexander Nanta Linggi said in Kuching on June 17, as reported by The Star, Malay Mail and Free Malaysia Today. He said no additional allocations are required for now and that the Works Ministry and the Construction Industry Development Board had presented a study on the impact to the National Economic Action Council. His comments come alongside warnings from developers including Paramount and Sime Darby Property that materials and fuel costs are pushing up new launch prices.
Today's roundup
MRCB led the day with its move into the data centre space, pairing with Perintis Akal to develop a RM2.1 billion, 65MW AI-ready facility on its Bukit Jalil land under a proposed 10-year lease. Beshom lined up a RM85.80 million cash sale of industrial land in Klang, expected to book a pro forma gain of approximately RM52.78 million. Tanco's managing director continued to trade through a share rout that has shed approximately RM9 billion in market value; the Johor elevated ART moved toward a public-private partnership award; and the works minister said construction material costs remain manageable even as developers flag rising prices.
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