SKYWORLD DEVELOPMENT SIGNS AGREEMENT TO JOINTLY DEVELOP NATION’S LARGEST AFFORDABLE HOUSING
SkyWorld Development Berhad has entered into strategic agreements with Penang Development Corporation and PDC Properties to jointly develop over 35,000 affordable housing units in Penang, with a GDV of RM13 billion. The project will span 195.54 acres in Batu Kawan and Seberang Jaya, offering homes priced between RM225,000 and RM420,000 under Rumah Mampu Milik and Rumah Bakat Baru MADANI schemes.
SUNVIEW SECURES RM196.1 MILLION WORTH OF CONTRACTS
Sunview Group Berhad (“Sunview”) announced its subsidiary, Fabulous Sunview Sdn. Bhd., has secured two contracts worth RM196.1 million for the construction of two 29.99MWac solar plants in Sungai Petani, Kedah.
Group CEO HP Ong said, “This collaboration strengthens Sunview’s position in renewable energy and supports our commitment to sustainable growth.
3REN SIGNS MOU WITH INVESTPENANG ON PENANG SILICON DESIGN @5KM+ INITIATIVE
3REN Berhad (“3REN”), through its subsidiary Sophic Automation Sdn Bhd, has signed an MOU with InvestPenang to support the Penang Silicon Design @5km+ initiative. This program aims to enhance Malaysia’s semiconductor and IC design sectors by fostering innovation, developing talent, and creating a centralized hub for industry leaders in Penang.
KIP REIT WELCOMES EPF AS ITS NEW SUBSTANTIAL UNITHOLDER
KIP REIT proudly welcomes the Employees Provident Fund (EPF) as a substantial unitholder, now holding over 6% following its recent private placement. The RM146.7 million raised will partly finance the acquisition of D’Pulze Shopping Centre, strengthening KIP REIT’s growth trajectory. CEO Valerie Ong Pui Shan highlighted this as a pivotal milestone, reinforcing KIP REIT’s commitment to delivering sustained value and attracting esteemed investors.
MGB REACHES THE TOP FOR IDAMAN CAHAYA 1 WITH ROOF TOPPING CEREMONY
MGB Berhad (“MGB”), a subsidiary of LBS Bina Group Berhad, marked the completion of the Idaman Cahaya 1 building structure with a roof-topping ceremony in Shah Alam. This milestone highlights MGB’s use of Industrialised Building System (IBS) technology, enabling faster construction and reduced labor dependency.
Part of the Rumah Idaman MBI initiative, the project advances MGB’s goal of delivering affordable housing in Selangor. To date, MGB has completed over 12,000 IBS-built units, with 3,000 more in progress. Tan Sri Dato’ Sri Ir. (Dr.) Lim Hock San emphasized the Group’s commitment to timely project delivery and affordable housing for Klang Valley residents
BINASTRA HITS RM3 BILLION TARGET WITH LATEST RM327 MILLION CONTRACT WIN
Binastra Corporation Berhad (“Binastra”) has secured a RM327.7 million contract through its subsidiary, Binastra Builders Sdn. Bhd., surpassing its RM3.0 billion FY2025 target with RM3.1 billion in contracts secured year-to-date.
The project involves two 58-storey serviced apartment blocks in Kuala Lumpur, scheduled for completion within 42 months. With an order book of RM3.7 billion, Binastra is well-positioned for sustainable growth.
GEORGE KENT SECURES FIRST CONTRACT IN SARAWAK WORTH RM26.7 MILLION
George Kent (Malaysia) Berhad has secured its first Sarawak project, a RM26.7 million contract for the Sarawak Water Supply Grid Program. The project, awarded by JBALB Sarawak, aims to enhance water infrastructure along Bakun Road, benefiting local communities. The scope includes the installation of mechanical and electrical systems, with completion expected by June 2026. This milestone expands George Kent’s footprint in Malaysia and strengthens its role in regional infrastructure development.
Yinson Production and PTSC joint venture wins FSO contract with a subsidiary of Murphy Oil Corporation for the Lac Da Vang project in Vietnam
PTSC Asia Pacific (PTSC AP), a joint venture of Yinson Production (49%) and PTSC (51%), has secured a 10-year, USD 416 million contract for a new floating storage and offloading (FSO) vessel for the Lac Da Vang project offshore Vietnam. The FSO, featuring a 500,000-barrel capacity and dual-fuel systems, aligns with Yinson’s sustainability goals. Operations are expected to commence in late 2026, further strengthening Yinson and PTSC’s regional partnership.
PHARMANIAGA’S REGULARISATION PLAN APPROVED
Pharmaniaga Berhad has secured Bursa Malaysia’s approval for its Regularisation Plan (RP), a critical step in its financial recovery. The RP includes financial restructuring, operational optimisations, and initiatives like rights issuance and private placement to enhance shareholder value.
The approval follows Pharmaniaga’s strong Q3 FY2024 results, posting a RM101.3 million profit after tax, showcasing the success of its turnaround efforts. Managing Director Zulkifli Jafar stated, “This marks a pivotal moment as we execute our RP and accelerate our PN17 exit.”
GOING GREEN WITH PHARMANIAGA
Pharmaniaga Berhad has launched its Solar PV System Project in partnership with Cenergi SEA Berhad, expanding its renewable energy footprint across six facilities. This initiative, part of its “Going Green” programme, aims to reduce carbon emissions and energy costs, contributing to Malaysia’s Net Zero by 2050. The project is expected to deliver RM2.7 million in annual savings and cut 4,550 tons of CO2 emissions annually.
