LBS SHINES AMONG TOP DEVELOPERS WITH THIRD CONSECUTIVE WIN AT MALAYSIA DEVELOPER AWARDS 2024
LBS Bina Group Berhad (“LBS”) has proudly won the prestigious Top of the Chart award at the Malaysia Developer Awards 2024, ranking it among the top 10 developers in the market capitalisation category for companies exceeding RM1 billion.
The award highlights LBS’s commitment to developing innovative, high-quality properties while promoting sustainable practices. LBS Group Executive Chairman, Tan Sri Dato’ Sri Ir. (Dr.) Lim Hock San, expressed pride in the recognition, noting that it reflects the company’s financial resilience and dedication to sustainable growth.
YINSON PRODUCTION’S FPSO MARIA QUITÉRIA ACHIEVES FIRST OIL
Yinson Production is pleased to announce that FPSO Maria Quitéria achieved first oil on 15 October 2024, following a successful 72-hour test. This marks the start of its 22.5-year charter. The project also reached 21.6 million man-hours without a lost-time incident.
This is Yinson’s second delivery for Petrobras, following FPSO Anna Nery in 2023. CEO Flemming Grønnegaard highlighted the achievement as a testament to Yinson’s commitment to safety, innovation, and its strong partnership with Petrobras.
FAJARBARU SECURES RM246.1 MILLION CONTRACT FROM WCT CONSTRUCTION
Fajarbaru Builder Group Bhd has been awarded a RM246.1 million contract by WCT Construction Sdn Bhd for the second phase of the AdisonWest development in Johor Bahru. The project involves the construction of four serviced apartment towers, set to be completed in 36 months, adding to Fajarbaru’s total order book of RM1.23 billion.
Group Executive Chairman Tan Sri Dato’ Sri Chan Kong Choy highlighted the progress of Phase 1 and reaffirmed the Group’s commitment to delivering high-quality projects.
PLYTEC ANNOUNCES DEBUT INTO THE INDONESIAN MARKET
PLYTEC Holding Berhad has signed three marketing and distribution agreements with PT Oriental Shoring Solutions, making it the exclusive distributor of PLYTEC’s construction products in Indonesia, including formwork, WONDERBoard, and Pecaform systems.
The five-year agreements mark a key step in PLYTEC’s Southeast Asia growth strategy. CEO Yang Kian Lock expressed confidence in PT Oriental’s ability to help PLYTEC expand rapidly and introduce innovative solutions to improve construction efficiency in Indonesia.
YINSON WELCOMES LIM POH SEONG AS NEW MEMBER OF THE BOARD
Yinson Holdings Berhad announced the appointment of Lim Poh Seong as an Independent Non-Executive Director, effective immediately. With over 25 years of experience in auditing, accounting, and corporate finance, Lim Poh Seong brings valuable expertise to the Group.
Yinson’s Executive Chairman, Mr. Lim Han Weng, highlighted that Lim’s diverse experience will help drive Yinson’s growth and strategic objectives.
FAJARBARU SETS TO TRANSFORM BATU KAWAN THROUGH ITS MEDI-CITY DEVELOPMENT PROJECT
Fajarbaru Builder Group Bhd (“Fajarbaru”) has accepted a Letter of Offer from Penang Development Corporation for the Medi-City project in Batu Kawan, spanning 235.8 acres. Fajarbaru plans to purchase Parcel 1, which includes a 200-bed hospital and mixed-use facilities, in 2025. The development aims to create a comprehensive healthcare ecosystem with sustainable features. Fajarbaru’s Board is optimistic about Medi-City’s potential to enhance Penang’s status as a global healthcare destination.
MGB TO DEVELOP 26 ACRES OF LAND WITH A RM861 MILLION GDV IN TAMAN BUKIT SERDANG, SELANGOR
MGB Berhad, a subsidiary of LBS Bina Group, has entered joint ventures with Talam Transform Berhad and Kandis Permai Sdn Bhd to develop 26 acres in Taman Bukit Serdang, Selangor. The projects, with a GDV of RM861.35 million, will include commercial lots and affordable housing under the Rumah Selangorku scheme.
Executive Chairman Tan Sri Ir. (Dr.) Lim Hock San emphasized MGB’s goal to deliver 10,000 affordable homes in Selangor using IBS technology. With 19 ongoing projects and an expected future revenue of RM4.02 billion, the Group is set for continued growth.
Leader Energy and Plus Xnergy to Deploy Malaysia’s First NaS Battery Energy Storage System (BESS)
Leader Energy Group Berhad, via its subsidiary Leader Solar Energy II, signed a partnership with Plus Xnergy Services to install Malaysia’s first sodium-sulfur (NaS) battery energy storage system (BESS) at its solar farm in Bukit Selambau, Kedah. The 1.45MWh BESS will enhance energy storage and grid stability, supporting Malaysia’s net-zero goals by avoiding 126.5 tCO2e annually. The contract signing, witnessed by Deputy Prime Minister Dato Sri Haji Fadillah Yusof, took place at iGEM 2024.
SKYWORLD DEVELOPMENT PARTNERS WITH PR1MA TO BUILD AFFORDABLE HOMES IN BRICKFIELDS
SkyWorld Development Berhad, through its subsidiary Aspirasi Cekap Sdn Bhd, has entered a joint development agreement with PR1MA Corporation to develop SkyAwani Prima in Brickfields. The project includes 491 affordable apartments, each priced at RM390,000.
The development, valued at RM191.49 million, is designed for middle-income households and promotes “Healthy Building, Healthy Living.”
Leader Energy secures over US$100 million investment from CAF II to accelerate renewable energy growth in Southeast Asia
Leader Energy Group Berhad has secured over US$100 million from the China-ASEAN Investment Cooperation Fund II (CAF II) to enhance its renewable energy initiatives in Southeast Asia. Since its entry into the sector in 2016, the company has achieved more than 550 megawatts in capacity and aims to double this within five years.
