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Shaiful succeeds Syahrunizam Samsudin, who resigned at the end of August to take the helm of independent power producer Malakoff Corp Bhd.

The township’s first residential phase, Soren, was launched in March 2025, and has reached an 80% take-up rate.

The government is targeting 50 high-impact projects in the JS-SEZ within the next five years and 100 projects over the next 10 years, while creating at least 20,000 high-skilled job opportunities over the next decade.

Effective July 1, 2025, the measures include a one-year exemption for non-reviewable contracts, separation of taxable service and non-taxable material components in mixed contracts, and exemption for residential portions in mixed developments.

LBS Bina said the JV offers a strategic opportunity to expand its commercial portfolio, leverage state-endorsed infrastructure investments, and tap into the long-term demand for industrial space.

The improved earnings were attributed to accelerated progress billing for the KL 48 project, as well as lower administration expenses and finance costs.

An open tender for the second main civil works package (CMC2)—which covers the alignment from Macallum to Penang Sentral, including a bridge across the Penang Strait—will be launched soon.

Che Abdul Khalid has over 30 years of experience in property development and construction.

The request for a fifth extension to April 27, 2026, is for more time for the company to assess the proposed move and commence negotiations on terms of a binding heads of agreement between parties.

The investment is expected to contribute RM19.