FBG SIGNS MASTER PURCHASE DEVELOPMENT AGREEMENT FOR PENANG MEDI-CITY, BATU KAWAN
Fajarbaru Builder Group Bhd (“FBG”) has signed a Master Purchase and Development Agreement with Penang Development Corporation to develop the 235.8-acre Medi-City in Batu Kawan. This transformative project will feature a comprehensive medical hub, including a 200-bed specialist hospital, healthcare and wellness facilities, alongside residential and commercial components, with a GDV of RM2 billion over eight years.
FBG has also formed strategic collaborations with key partners to integrate renewable energy, advanced cooling systems, and stem cell facilities, further enhancing the Medi-City ecosystem. Executive Chairman Tan Sri Dato’ Sri Chan Kong Choy highlighted the development’s goal of positioning Penang as a world-class regional medical hub.
SKYWORLD DEVELOPMENT ENTERS PREFABRICATED MANUFACTURING BUSINESS VIA SHAREHOLDERS’ AGREEMENT WITH TEAMBUILD
SkyWorld Development Berhad (“SkyWorld”) has partnered with Singapore-based Teambuild Holding (S) Pte Ltd to form Prefab Master Sdn Bhd, marking its entry into the prefabricated manufacturing sector. SkyWorld holds a 70% stake, with Teambuild holding 30%.
Prefab Master will introduce Prefabricated Prefinished Volumetric Construction (PPVC) technology to Malaysia, addressing industry challenges like quality, labour shortages, and delivery timelines.
A key initiative includes Malaysia’s largest affordable housing project in Penang, valued at RM13 billion, set to launch in 2025, delivering over 35,000 units over 10 years.
SkyWorld CEO Lee Chee Seng highlighted PPVC’s productivity, sustainability, and ESG benefits, ensuring cost-effective, high-quality housing solutions.
UUE WINS CONTRACTS WORTH RM27.5 MILLION
UUE Holdings Berhad (“UUE”) has secured two contract renewals worth RM27.5 million via its subsidiary, Kum Fatt Engineering Sdn Bhd. The contracts involve installing and commissioning 11kV underground cables within TNB’s distribution network in Malaysia’s east coast and southern regions.
These renewals bring UUE’s total 2025 order wins to RM64.0 million, strengthening its presence in key regions and ensuring earnings visibility. UUE Managing Director, Datuk Dr. Ting Kok Hwa, highlighted plans for a new factory to support in-house HDPE pipe manufacturing, emphasizing the Group’s focus on delivering results and shareholder value.
OPTIMAX COLLABORATES WITH 2 MINISTRIES UNDER THE REFRACTIVE SCREENING PROGRAMME
Optimax Holdings Berhad (“Optimax”) participated in the Eyeglass Distribution Ceremony under the Refractive Screening Programme for B40 and M40 students in Putrajaya. The event, held at Sekolah Kebangsaan Putrajaya 9(2), was officiated by Health Minister YB Datuk Seri Dr. Dzulkefly Ahmad and Education Minister YB Fadhlina Sidek.
In collaboration with the Ministry of Health and Ministry of Education, the programme screened 258 students across 16 schools, identifying 100 students in need of eyeglasses, which Optimax will provide for free.
FAJARBARU REBRANDS AS “FBG”
Fajarbaru Builder Group Bhd. is now FBG, reflecting its commitment to sustainability and innovation in construction and property development.
Subsidiaries Fajarbaru Builder Sdn Bhd and Fajarbaru Land (M) Sdn Bhd have also been renamed FBG Builder Sdn Bhd and FBG Land Sdn Bhd.
Executive Chairman Tan Sri Dato’ Sri Chan Kong Choy stated, “Our new identity, ‘The Makers of Tomorrow,’ embodies our vision for a sustainable and innovative future.”
Yinson Production secures USD 1 billion investment from consortium of international investment firms to drive further growth
Yinson Production has secured USD 1 billion from global investors, including ADIA, BCI, and RRJ Group, to fund growth and distribute USD 200 million to its controlling shareholder. The deal, valued at USD 3.7 billion, may expand to USD 1.5 billion within 24 months and is expected to close in Q1 2025.
EDEN INC. BERHAD SECURES 29.99 MW SOLAR POWER PROJECT IN PAHANG
EDEN INC. BERHAD has secured a 29.99 MW solar plant development in Gebeng, Kuantan, under the Energy Commission’s Large-Scale Solar 5 programme. The plant, set to begin operations by July 2027, will operate under a 21-year agreement with Tenaga Nasional Berhad (TNB).
This project reinforces EDEN’s commitment to renewable energy and regional development. The company’s shares were also reclassified under the renewable energy sub-sector on Bursa Malaysia, effective 13th January 2025.
Yinson Production’s FPSO Atlanta achieves first oil
Yinson Production’s FPSO Atlanta achieved first oil on 31 December 2024, marking the start of its 15-year firm charter with Brava Energia. The project boasts 9.8 million man-hours without lost time incidents and features innovative carbon-reducing solutions, underscoring Yinson’s commitment to sustainability and operational excellence.
RESERVOIR LINK’S ASSOCIATE SECURES RM20.0 MILLION FLOATING SOLAR FARM PROJECT
Reservoir Link Energy Bhd’s 45%-owned associate, Founder Group Limited, secured an RM20 million contract to construct a 10MWac floating solar farm in Kuala Langat, Selangor. Scheduled for completion by June 2025, the project reinforces Reservoir Link’s commitment to innovative and sustainable energy solutions.
UUE KICK-STARTS 2025 BY WINNING RM36.5 MILLION CONTRACTS
UUE Holdings Berhad secured RM36.5 million in contracts for underground cable installation within TNB’s distribution network in Terengganu, Kelantan, and Johor. These projects, supporting Malaysia’s energy transition goals, are expected to boost earnings and highlight UUE’s market strength and growth strategy.
