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Now Open: 1926 Heritage Hotel Penang Brings Living Heritage To A New Generation

A century since it first opened its doors, 1926 Heritage Hotel is now relaunched, breathing new life as part of The Unlimited Collection by The Ascott Limited. On a storied stretch of Jalan Burma in George Town, Penang, 1926 Heritage Hotel emerges as a living chapter of the city’s story, where heritage architecture and contemporary comforts exist in quiet harmony. Originally built in 1926 as British official residences for administrative officers of the time, the property has been thoughtfully restored after a century, preserving its architectural character while reintroducing it for today’s travellers. A façade of clean white and harmonious beige reflects the hotel’s colonial influence, boasting elements of Anglo-Malay architecture prevalent during the transitional era of George Town. At the entrance, return time and again to its logo of a palm tree flanked by two panthers, your sign that you are home. “As travel is increasingly shaped by culture and experience, we are seeing growing demand for destinations with a strong sense of identity. In line with Visit Malaysia 2026, 1926 Heritage Hotel offers a distinctive Penang story that connects travellers to the destination in a more meaningful and authentic way. Marking its centennial, the property has been carefully revitalised with respect for its original character, ensuring it remains part of Penang’s heritage for generations to come,” said Mondi Mecja, Country General Manager, Ascott Malaysia. Part of Penang’s Story Reimagined for the modern guest, the hotel’s design captures the spirit of old Penang through every preserved corridor and redefined space. Its main double doors lead visitors into the main reception area within the central bungalow. The lobby welcomes all with a signature art feature wall boasting French-inspired straw marquetry also telling the tale of palm trees and panthers. Each corner is not merely a nod to the past but a respectful continuation of it, where Penang’s Straits-style charm meets understated modern luxury. For those seeking a more lavish space, the Straits Suite provides a truly expansive stay, with a separate bedroom, living area and study. Subtle, considered details — from plush bedding to premium bath essentials — enhance the experience, allowing guests to unwind in comfort or step out refreshed to explore the surrounding neighbourhood. For a more intimate, nature-connected stay, the 52 sqm Heritage Garden Patio Room, located on the ground floor, features a private outdoor patio and garden. With easy access to the pool area and a tranquil, greenery-lined setting, it is ideal for guests seeking a restful retreat with a closer connection to their surroundings. Made for Leisure and Business Beyond a good night’s rest, convene, converge and connect with the latest conveniences within a thoughtfully designed interior to make the most out of your stays. Congregate within two meeting rooms, the Burma Room and Heritage Hall, awash with natural daylight for productive gatherings. Work out at a modern gym outfitted with the latest equipment, allowing you to maintain your fitness routines with ease. Rejuvenate at the contemporary Asian-inspired spa by Sensorium, a tranquil space for renewal with treatments that balance relaxation with restoration. Relax by the outdoor pool, framed by lush tropical landscaping and greenery, offering a calm retreat away from the bustle of the city. At the end of a long day, gather and ground oneself again at the central courtyard garden, a slice of green, shaded oasis ideal for retreat and relaxation. Taste George Town’s Identity The hotel’s dining experience centres on its Chinese bistro, Root House by Gēn, which reimagines the culinary heritage of Malaysia’s Chinese diaspora community. By the hands of chef-founder Johnson Wong — whose Penang restaurant Gēn re-entered Asia’s 50 Best Restaurants 2026, the menu draws on local ingredients, diaspora influences and the culinary traditions of diverse Chinese communities, reflecting how dishes have travelled, adapted and evolved across regions. Inspired by the movement between Malaysia and China, the concept explores how flavours shift over time — shaped by new environments, ingredients and cultural exchanges. This continuous journey of adaptation and rediscovery is expressed through a menu that is both rooted in tradition yet expressed through a lens that tells the story of Penang’s evolution. The experience is further complemented by U-Bar, a long bar offering curated drinks in a relaxed setting ideal for socialising and unwinding. The Heritage Collection by Daily Coffee serves as the hotel’s all-day dining concept, offering a more relaxed and accessible setting. Available from breakfast through to dinner, it showcases a comforting mix of local favourites and familiar classics, reflecting the everyday flavours and energy of Penang as one of Malaysia’s culinary capitals. The U-Shop, showcases curated selection of artisanal products and merchandise sourced from across Penang. At 1926 Heritage Hotel, the story of Penang is seamlessly woven into every aspect of the stay, from heritage and mindfulness to nourishment and rest. True to The Unlimited Collection’s philosophy, the 1926 Heritage Hotel connects guests to the neighbourhood’s vibrant surroundings, from the cultural charm of Nagore Square and the heritage temples of Lorong Burma to the creative pulse of Hin Bus Depot. Here, guests are encouraged to explore Penang’s living culture just steps from the hotel’s doorstep. Opening Promotion For a limited time only, experience cultural immersion and sophisticated tranquillity at one of Penang’s most preferred addresses with an exclusive opening promotion. From now until 31 July 2026, book a Heritage Room from only RM428++ per room per night, complete with complimentary daily breakfast for two persons. For reservations and enquiry, email: [email protected].

Investment & Market Trends

HSS Holdings Signs IPO Underwriting Deal With M&A Securities

HSS Holdings Bhd, a bakery products company, has signed an underwriting agreement with M&A Securities Sdn Bhd in preparation for its initial public offering (IPO) on the ACE Market of Bursa Malaysia, the group said. The IPO involves a public issue of 75 million new shares and an offer for sale of 52.5 million existing shares. From left: Goh Chen Ann, Executive Director of HSS Holdings; Goh Chen Chang, Managing Director; Datuk Bill Tan, Executive Director of M & A Securities; and Gary Ting, Head, Corporate Finance. Of the new shares, 25 million will be offered to the Malaysian public, while 10 million are allocated to eligible persons. Another 10 million shares will be placed with Bumiputera investors approved by the Ministry of Investment, Trade and Industry, and 30 million shares will be offered to selected investors. M&A Securities will underwrite 35 million shares allocated to the Malaysian public and eligible applicants. Proceeds from the IPO will be used for capital expenditure, borrowings repayment, working capital, and listing expenses. Planned investments include a new biscuit production line, automation of biscuit and cookie production processes, and a new automated cake production line to improve efficiency, expand capacity, and broaden product offerings. Managing director Goh Chen Chang said the IPO will strengthen the company’s manufacturing capabilities, improve operational efficiency, and support future growth as the group expands its product portfolio and brands. HSS currently operates a wide distribution network consisting of about 332 wholesalers, five distributors, and 112 retailers.

The Executives

TalentCorp Appoints Biruntha Mooruthi As New Group CEO

Talent Corporation Malaysia Berhad (TalentCorp) has appointed Biruntha Mooruthi as its group chief executive officer, effective immediately, the agency said on Wednesday. She replaces Edward Ling, who is stepping down less than six months after taking on the role on Nov 4 last year. TalentCorp, an agency under the Ministry of Human Resources (Kesuma), said the leadership change is part of its efforts to strengthen the execution of a more focused national talent strategy aligned with industry needs and measurable outcomes. The agency plays a key role in implementing Malaysia’s national talent policies and acting as a strategic think tank for the ministry. It added that the appointment supports its continued focus on delivering talent solutions aligned with industry demand, improving workforce readiness, and ensuring policies translate into long-term economic impact. TalentCorp also expressed appreciation to Ling for his contributions during his tenure. Biruntha holds a Master of Business Administration from Victoria University and a Bachelor of Science (Hons) in Computer Science from Coventry University. She brings more than 20 years of experience across the public sector, academia, and industry, with a background in national programme delivery, innovation initiatives, and institutional development. Before this appointment, she held senior roles at PlaTCOM Ventures under MaGIC, Universiti Tenaga Nasional, and British Telecom, where she led initiatives in technology commercialisation, industry-academia collaboration, and innovation across energy, technology, and sustainability sectors. Her track record includes leading national innovation funding programmes and supporting technology commercialisation efforts benefiting hundreds of Malaysian companies, as well as mentoring more than 5,000 entrepreneurs and innovators nationwide.

The Executives

Sunway Appoints Abdul Wahid Omar To Board

Sunway Bhd has appointed Tan Sri Abdul Wahid Omar as an independent and non-executive director, effective immediately, the company said in a Bursa Malaysia filing on Wednesday. The 62-year-old currently serves as chairman of Cypark Resources Bhd and IOI Corp Bhd. He previously held several key positions, including Minister in the Prime Minister’s Department overseeing the Economic Planning Unit (2013–2016), as well as chairman roles at Bursa Malaysia Bhd and Permodalan Nasional Bhd. The appointment comes shortly after Sunway’s unsuccessful takeover bid for IJM Corp Bhd, where its cash-and-share offer closed on April 6 with a 33.43% acceptance rate, below the required majority threshold. Sunway shares ended eight sen or 1.53% higher at RM5.30, valuing the group at RM36.07 billion.

Property

MGB Secures RM35m Villa Project In Saudi Arabia

MGB Bhd has secured a RM34.76 million contract to build residential villas in Jeddah, Saudi Arabia, further strengthening its presence in the Middle East. In a Bursa Malaysia filing on Wednesday, the construction firm said the contract was awarded to its wholly owned subsidiary, MGB International For Industry, by Saudi real estate developer Roshn Group Company. Under the eight-month contract, MGB will construct 75 villa units for the Marafy Al-Arous Development Project, Roshn’s first fully integrated mixed-use development. The group has previously collaborated with Roshn on projects such as the Roshn Alarous development in Jeddah, where it supplied and installed precast elements. MGB said the latest contract is expected to boost its earnings and strengthen its order book, while supporting its strategy to expand its footprint in Saudi Arabia and the broader regional market. According to AskEdge data, MGB is currently trading at a price-to-earnings ratio of 4.9 times, the lowest among its peers and below its historical valuation range. Its price-to-net asset value of 0.4 times is also the lowest in the peer group and near recent lows. Shares in MGB closed one sen or 2.4% higher at 43 sen, valuing the company at RM254.4 million.

Energy & Technology

Express Power Expands Into Indonesia With 15MW Project

Express Powerr Solutions (M) Bhd is expanding its regional footprint with a 15-megawatt (MW) power generation project in Lombok, Indonesia. In a Bursa Malaysia filing on Wednesday, the company said it will provide generator rental services, including the procurement and leasing of high-speed diesel and biodiesel-fuelled containerised power generation units. The project is undertaken by a consortium comprising PT Triotama Toya Energi, PT Bintang Bangkit Bersama, and PT Sumber Artho Bersaudara. PT Triotama, which is responsible for supplying the project’s power generators, has signed a joint cooperation agreement (JCA) with Express Powerr’s Indonesian unit, PT Express Power Energy, for the rental services. Under the agreement, revenue will be shared on a 70:30 basis, with the larger portion allocated to PT Express Power. The contract value was not disclosed. Express Powerr said the collaboration marks a strategic step to expand its core generator rental business into the regional market, while leveraging PT Triotama’s established network for potential future opportunities. The project is expected to run for two years from its commercial operation date, with the possibility of extension subject to approval from the project owner, PT PLN Nusantara Power Services, and mutual agreement between the partners. Shares in Express Powerr closed unchanged at 14 sen, giving the group a market capitalisation of RM135.5 million. The stock is currently about 30% below its IPO price of 20 sen in September last year.

Energy & Technology

Uzma Wins Three Contracts From PETRONAS Carigali

Uzma Bhd has secured three contracts from PETRONAS Carigali Sdn Bhd for the provision of coiled tubing unit (CTU) equipment and services, the company said in a Bursa Malaysia filing on Wednesday. The contracts were awarded to its subsidiary, Setegap Ventures Petroleum Sdn Bhd, and cover a broad range of well services, including intervention, completion, idle well reactivation, and production enhancement activities across Sarawak and Sabah. Uzma said the contracts have a five-year tenure, running from Feb 13, 2026, to Feb 12, 2031, although the contract value was not disclosed. In a separate statement, the group said it will deploy its CTU equipment and technical expertise to support well operations during both development and production phases, with a focus on optimising output, improving asset performance, and enhancing operational efficiency. Group CEO Datuk Kamarul Redzuan Muhamed said the contract wins highlight Uzma’s operational readiness and execution capabilities, noting that the group’s ability to mobilise ready assets and experienced teams at scale has been a key differentiator. Uzma added that its established asset base and skilled workforce enable fast deployment and consistent service delivery, particularly in high-demand and logistically challenging environments. The long-term nature of the contracts is expected to provide strong earnings visibility and further strengthen Uzma’s position as a reliable partner in Malaysia’s energy sector. Shares in Uzma closed one sen or 2.4% lower at 40 sen, valuing the group at RM238.1 million.

Energy & Technology

Dialog Begins Phase 3 Expansion Of Pengerang Deepwater Terminal

Dialog Group Bhd  has begun construction work on the Phase 3 expansion of its Pengerang Deepwater Terminals (PDT) in Johor, after meeting conditions under a long-term service agreement signed with BP Singapore Pte Ltd last November. In a Bursa Malaysia filing on Wednesday, Dialog said the expansion is expected to be completed by mid-2028 and will add 614,000 cubic metres of storage capacity for refined petroleum products and biofuels. This will bring total capacity to about one million cubic metres across 48 storage tanks. Dialog said the expansion is part of its long-term development strategy for Phase 3 PDT and will support its goal of generating higher recurring income for the group. The Phase 3 development was launched in 2018 and began operations in March 2021. The terminal is designed as an integrated hub offering storage tanks, deepwater marine facilities, shared pipelines, and port operations for oil traders, refiners, and petrochemical players. In a previous filing, Dialog said the agreement is a conditional long-term service deal involving Dialog Terminals Pengerang (5) Sdn Bhd and Dialog Terminals Sdn Bhd. Based on AskEdge data, Dialog currently trades at a price-to-earnings ratio of 22.9 times, the highest among its peers where applicable, though still at the lower end of its historical valuation range in recent years. Its price-to-net asset value of 2.2 times is also the highest among peers but below its recent historical average. Dialog shares closed one sen lower at RM2.27, valuing the group at RM12.8 billion, and have risen 78.3% over the past year.

Energy & Technology

ITMAX Wins RM603.5M AI Surveillance Contract In Johor Bahru

ITMAX System Bhd said its 65%-owned subsidiary Southmax Sdn Bhd has secured a RM603.5 million variation order from the Johor Bahru City Council (MBJB) to expand artificial intelligence (AI)-enabled video surveillance systems in Johor Bahru. In a Bursa filing on Wednesday, ITMAX said Southmax received and accepted the variation order dated April 14. The order is linked to a main RM105.32 million contract awarded in 2023, which covers video surveillance services, including a smart command centre and AI-powered CCTV systems for MBJB. Under the latest variation order, Southmax will install additional AI-enabled CCTV cameras and implement advanced video analytics programming. The expanded scope will be delivered on a 20-year service subscription model, starting after the installation phase is completed. ITMAX said the contract is expected to contribute positively to earnings and net assets per share over the duration of the agreement. Shares of ITMAX closed 25 sen or 5.3% higher at RM4.94, giving the group a market capitalisation of RM5.12 billion.

Property

Tropicana Redeems RM133.2M From RM1.5B Sukuk Programme

Tropicana Corporation Bhd has redeemed another RM133.2 million under its RM1.5 billion Islamic Medium-Term Notes (IMTN) 2020 sukuk programme, the company said in a statement on Wednesday. The redemption of Tranche 5 of the perpetual sukuk brings total repayments under the programme to RM1.25 billion, according to the property developer. Tropicana said the move is part of its ongoing efforts to reduce borrowings and strengthen its balance sheet. This latest repayment follows earlier debt reductions, including a RM89.43 million redemption in March under Tranche 1, and a RM130 million settlement under Tranche 4 in October last year. The group’s unbilled sales stand at RM2 billion, providing continued earnings visibility. It also said its ongoing and upcoming developments carry a combined gross development value (GDV) of about RM7.5 billion. For the financial year ended Dec 31, 2025, Tropicana’s net loss narrowed to RM118.83 million from RM208.52 million a year earlier, while revenue rose to RM1.5 billion from RM1.4 billion. The company plans to launch 11 developments this year with a GDV of RM3.1 billion, including projects in Kota Kemuning, Cyberjaya, Genting Highlands, Langkawi, and Johor. It also expects several project handovers in 2026 across Kota Kemuning, Petaling Jaya, and Langkawi. Tropicana said its landbank currently totals 1,336 acres, with a potential GDV of RM168.4 billion. Shares in Tropicana closed two sen or 1.7% higher at RM1.20, valuing the company at RM3 billion.

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