Kerjaya Prospek lands RM858m data-centre contract; ANZ sees hawkish signal in BNM language shift

Kerjaya Prospek secures RM858m Johor data-centre job

Kerjaya Prospek Group Bhd’s wholly owned subsidiary Kerjaya Prospek (M) Sdn Bhd has accepted a letter of award dated Sept 1 from an undisclosed data-centre developer for MEP fit-out works at a data-centre development in Iskandar Puteri, Johor. The fixed lump-sum contract is valued at RM858 million. It is scheduled to commence in the third quarter of 2026 and is expected to be completed within eight months from commencement.

RHB Research described the contract as Kerjaya Prospek’s largest project win to date, exceeding the RM710 million Astrum Ampang contract secured in February 2022. PublicInvest said the award lifts the group’s year-to-date contract wins to RM3.2 billion and outstanding order book to RM5.9 billion. It estimated that the project could contribute about RM26 million to its FY2026 and FY2027 earnings forecasts. Kerjaya Prospek did not identify the project owner, disclose the facility’s capacity or provide a more specific location within Iskandar Puteri.

Separately, Kerjaya Prospek said it had completed the acquisition of the remaining 40% interest in Tanjung Bungah Development Sdn Bhd from Aspen Vision Tanjung Sdn Bhd after the conditions precedent under the June 19 share sale agreement were fulfilled. The completion makes Tanjung Bungah Development a wholly owned subsidiary of Kerjaya Prospek.

Media Chinese proposes RM19.88m disposal of Richmond printing facility

Media Chinese International Ltd is proposing to dispose of a former media-operations office and printing facility in Richmond, British Columbia, Canada, for C$6.85 million (RM19.88 million), following the cessation of its Canadian media operations on Feb 1.

Its indirect wholly owned subsidiary Ming Pao Holdings (Canada) Ltd entered into a conditional sale and purchase agreement with Da Xing Investment Ltd on Sept 2, Canada time. The property at 5368 Parkwood Place comprises about 0.557 acres of freehold industrial land and a two-storey building with approximately 18,800 sq ft of gross floor area. The proposed disposal is expected to produce an unaudited gain of about C$5.26 million (RM15.28 million) before expenses and tax. Media Chinese estimates net proceeds of about C$6.55 million (RM19.01 million), after relevant costs and expenses but before tax, for general working capital.

Completion remains conditional on the purchaser’s due diligence, title and other searches, inspections and investigations. Subject to the agreement’s terms, completion is scheduled for Dec 1, with vacant possession to follow the next day. The transaction is separate from the group’s previously announced sale of its Toronto-area printing plant, involving a different freehold property in Ontario.

ANZ sees hawkish signal in BNM language shift despite OPR hold

Bank Negara Malaysia kept the OPR unchanged at 2.75% on Sept 3, but ANZ Research said subtle changes in the central bank’s policy language could indicate a less accommodative stance ahead. ANZ Research and HSBC Global Investment Research highlighted BNM’s removal of the word “appropriate” from its description of monetary policy.

In July, BNM said its policy stance was “appropriate and consistent” with its growth and inflation outlook. In September, it said the stance was “consistent”. ANZ Research chief economist for Southeast Asia and India Sanjay Mathur interpreted the omission as a sign that BNM may be less comfortable with the OPR at its current level. ANZ maintained its forecast for a 25-basis-point increase at the next Monetary Policy Committee meeting on Nov 5. HSBC senior economist for Asean Yun Liu took a more guarded view. She said the change was notable given BNM’s typically limited changes in language, but that it may give the central bank flexibility to act if necessary rather than signal a definite rate increase.

Pantheon Macroeconomics took the opposite view, describing BNM’s tone as calmer than expected and retaining its rate outlook unless clearer food-price pressures emerge. BNM has kept the OPR at 2.75% since cutting it by 25 basis points in July 2025. The differing interpretations underline that a rate increase remains an analyst forecast rather than a stated BNM intention.

Also on the radar today

Today's roundup

Today’s property news is led by construction contracts, with Kerjaya Prospek securing an RM858 million data-centre MEP job in Johor — its first disclosed award in the segment — and Gamuda’s consortium winning a major Parramatta metro-station contract in Sydney. Industrial-property activity also features, with Orgabio proposing an RM11.26 million Semenyih acquisition for a warehouse and Plytec seeking to acquire 1.96 hectares of agricultural land in Olak Lempit, Banting, for RM6.21 million to support longer-term expansion. Elsewhere, Media Chinese is proposing to sell a former Canadian printing facility in Richmond, British Columbia, as part of the broader unwinding of assets associated with its discontinued Canadian media operations. Penang remains active through proposed affordable housing in Sungai Dua, expressway works and continuing take-up at The Rimbun. On the macro front, BNM’s decision to leave the OPR at 2.75% was widely expected, but its revised policy wording has divided economists over whether the central bank may become more hawkish. Any eventual rate increase would be relevant to the property market through financing costs, although no change is currently in force.