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Property

Avaland Buys Taman U-Thant Land For RM86 million For Luxury Homes Project

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Avaland Bhd said it is acquiring a 7,613 sq m freehold land parcel in Taman U-Thant, Kuala Lumpur for RM86.04 million as part of its expansion into the high-end residential segment in the Klang Valley. In a Bursa Malaysia filing on Tuesday, the property developer said the land is being purchased through its wholly owned subsidiary Nexus Advertising Sdn Bhd from Tong Ah Company Sdn Bhd. The site is currently zoned for residential use and is planned for a high-rise luxury residential development with a preliminary gross development value (GDV) of about RM700 million. Avaland said the acquisition supports its long-term strategy to strengthen its presence in the Klang Valley property market, particularly in the premium housing segment. “This acquisition will further enhance the group’s presence in the luxury residential segment, building on the strong market response and success of the group’s earlier luxury developments, Aetas Damansara and Aetas Seputeh,” it said. The group added that the Taman U-Thant location, which sits within an established embassy enclave with limited new large-scale residential supply, presents a strong development opportunity. The purchase will be funded through a mix of internally generated funds and bank borrowings. The deal is expected to be completed by the first quarter of 2027. Avaland shares rose 1.5 sen or 8.33% to 19.5 sen on Tuesday, giving the group a market capitalisation of about RM284.1 million.

Property

Tropicana To Buy 15 Land Parcels In Langkawi For RM195.9 Million

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Property developer Tropicana Corp Bhd  is acquiring 15 land parcels covering about 24.15 acres in Langkawi, Kedah for a total of RM195.88 million. In a Bursa Malaysia filing on Tuesday, the group said its wholly owned subsidiary Tropicana Scenic Development Sdn Bhd (TSDSB) has signed two separate sale and purchase agreements for the acquisitions. Under the first deal, TSDSB will acquire 14 parcels of land in Bandar Padang Lalang, Langkawi, from Maya Elemen Sdn Bhd for RM151.1 million. The site has been identified by the Langkawi Development Authority (Lada) as part of a key agro-tourism and commercial zone. Tropicana said the land will support its strategy to expand into business-related and sustainable developments, with potential for residential and agro-tourism projects, backed by infrastructure improvements and rising tourism demand in the area. In a separate transaction, TSDSB is also acquiring a leasehold parcel in Padang Matsirat from Tanjung Mali Resort Development Sdn Bhd for RM44.8 million. The site is located near Langkawi International Airport and is intended to strengthen the group’s landbank in high-growth locations. The acquisitions will be funded through a mix of bank borrowings and internally generated funds. Barring any unforeseen circumstances, the deals are expected to be completed in the fourth quarter of 2026. Tropicana shares closed unchanged at RM1.20 on Tuesday, valuing the group at RM3.02 billion.

Property

7-Eleven Unit Buys Seri Kembangan Land For Food Commissary Hub

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7-Eleven Malaysia Holdings Bhd said its 60%-owned subsidiary has proposed to acquire a 2.13-acre parcel of land in Seri Kembangan for RM19 million, where it plans to develop a food commissary facility to support its future operations. In a Bursa Malaysia filing on Tuesday, the group said the land is currently classified as freehold agricultural land and is owned by several individuals. The site is presently used for fruit cultivation. The acquisition will be carried out through QVI Foods Sdn Bhd, a subsidiary that is 60% owned by 7-Eleven Malaysia. The remaining stake is held by other shareholders. 7-Eleven said the proposed purchase will allow the group to move upstream into the food commissary segment, strengthening its supply chain capabilities and supporting longer-term expansion plans in its retail and food-related businesses. “The proposed acquisition will enable the SEM Group to venture upstream into food commissary, thereby facilitating its future expansion and operational plans,” the company said. The group added that the project is expected to enhance operational efficiency by centralising food preparation and distribution support for its network. The acquisition is expected to be completed by the second quarter of 2026, subject to fulfilment of conditions precedent and regulatory approvals. Funding for the RM19 million purchase will come from a mix of internally generated funds and bank borrowings, the company said. At market close on Tuesday, 7-Eleven Malaysia shares were unchanged at RM2, giving the group a market capitalisation of about RM2.34 billion.

Investment & Market Trends

Pimpinan Ehsan To Return RM62.9m To Shareholders, Seek delisting After PN16 plan fails

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Pimpinan Ehsan Bhd (KL:PEB) has proposed to return RM62.9 million in cash to shareholders and voluntarily delist from Bursa Malaysia after its long-running PN16 regularisation plan with reNIKOLA Holdings Sdn Bhd fell through. In a Bursa filing on Tuesday, the company said it plans a capital reduction exercise to distribute 91 sen per share to eligible shareholders, with the date to be announced later. The proposed payout will be funded from cash reserves held in a custodian account, which stood at about RM65.17 million as at April 22, including interest earned. Major shareholder Pitahaya (M) Sdn Bhd, which holds a 37.4% stake, is expected to receive about RM23.53 million. Substantial shareholder and director Lim Beng Guan, who owns 9.36%, is set to receive around RM5.89 million. The proposal is subject to shareholder approval, court confirmation for the capital reduction, and Bursa Malaysia’s approval for the delisting. The group aims to complete the process by the third quarter of 2026. The move follows reNIKOLA’s decision to withdraw from the proposed regularisation plan, which led Pimpinan Ehsan to conclude it would not meet Bursa’s June 30 deadline to submit a new plan. The company said returning cash to shareholders is the best option in light of the situation. After the cash distribution and delisting, it also plans to proceed with a voluntary winding-up, with any remaining funds to be distributed to shareholders. Pimpinan Ehsan has been classified as a PN16 cash company since 2018 after disposing of its TRIplc Bhd subsidiary. It had since attempted to regularise its status through renewable energy asset injections involving reNIKOLA, but the plan was ultimately abandoned. Shares of Pimpinan Ehsan were untraded on Tuesday. The counter last closed at 81.5 sen, valuing the company at RM56.3 million.

Energy & Technology

Govt Sets Up Biofuel Committee To Strengthen Energy Security

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Economy Minister Akmal Nasrullah Mohd Nasir announced on Tuesday that the government has set up the Jawatankuasa Peringkat Tertinggi Biobahan Api, a high-level biofuel committee, to strengthen Malaysia’s energy security. Speaking during a live Facebook briefing, Akmal said the committee was established to coordinate the nation’s biofuel agenda amid ongoing global supply chain disruptions and volatility in energy markets. He said the move is part of the government’s broader strategy to diversify energy sources and reduce dependence on imported fuel. Akmal noted that Malaysia remains vulnerable to fluctuations in global fuel prices, making the development of alternative fuels an increasingly important policy priority. Malaysia has long relied on a combination of conventional and alternative energy sources to safeguard supply security, including coal, natural gas, hydropower and renewable energy. Coal and gas remain the main contributors to the country’s electricity generation mix. He said the new committee will act as a central coordination platform to improve decision-making across ministries and industries as the government assesses how biofuels can support existing energy sources under Malaysia’s wider energy transition plans. Apart from fuel security, Akmal said the government is also promoting bio-organic fertiliser production as an alternative to conventional fertilisers to reduce import dependence and strengthen food security. He added that the initiative could be expanded through a circular economy model under the 13th Malaysia Plan, where biomass, organic waste, agricultural by-products and other local resources are reused as inputs for fertiliser production. According to Akmal, this approach would encourage sustainable farming, reduce waste and create new industrial opportunities. No further details were provided on the committee’s leadership or when it will begin operations. There was also no media question-and-answer session after the briefing.

Energy & Technology

Jasa Kita To Acquire KT System For RM10 million To Expand Into Power And Utilities Sector

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Jasa Kita Bhd is acquiring KT System Sdn Bhd for RM10 million as it expands into the power and utilities infrastructure sector. In a Bursa filing, Jasa Kita said it will purchase 1.3 million shares from Norza Holdings Sdn Bhd and Nazarudin Salleh, giving it full ownership of KT System. The deal will be funded through internal funds and possibly bank borrowings, and is expected to be completed in the second quarter of the year. Group managing director Datuk Seri Iskandar Mizal Mahmood said the acquisition combines KT System’s technical expertise with Jasa Kita’s plan to build a broader engineering platform in the power infrastructure and utilities space. KT System is an electrical engineering firm involved in inspection, testing, commissioning and maintenance of electrical systems for transmission, distribution and solar projects, as well as power protection consultancy services. Its clients include Tenaga Nasional Bhd, Petroliam Nasional Bhd (PETRONAS), and Malaysia Airports Holdings Bhd. Jasa Kita said the move supports its strategy to tap into growth in Malaysia’s power sector, driven by AI data centres, renewable energy expansion, and grid optimisation initiatives. Shares of Jasa Kita were unchanged at 20 sen at midday, valuing the group at RM89.9 million.

Property

SD Guthrie, MBI Selangor To Explore Sepang Industrial Park Development Partnership

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SD Guthrie Bhd (KL:SDG) and Menteri Besar Selangor (Incorporation) (MBI Selangor) are exploring a strategic partnership to develop a 2,500-acre mixed-use industrial park in Sepang Estate, Selangor. The proposed project, located next to KLIA Aeropolis, is expected to generate more than 32,000 jobs by 2030, according to a statement on Tuesday. The development falls under the Integrated Development Region in South Selangor (IDRISS) and is part of the Sepang Infinity Corridor Hub under the Sepang Local Plan 2035. It will include industrial facilities such as manufacturing and logistics, supported by business spaces and training centres. Selangor Menteri Besar Datuk Seri Amirudin Shari said the collaboration reflects the state’s plan to develop a well-planned mixed-use township and industrial park that supports long-term economic growth. He said the project will leverage industry expertise and institutional strength to build smart, sustainable infrastructure with integrated aerospace capabilities. Amirudin added that it will complement the future expansion of Kuala Lumpur International Airport (KLIA) and enhance Selangor’s appeal to global investors. SD Guthrie chairman Tan Sri Nik Norzrul Thani Nik Hassan Thani said the initiative shows the group’s commitment to high-impact developments for Selangor and Malaysia. He said the project aims to create long-term value through strategic land development and industrial clustering to support the state’s economic transformation. MBI Selangor group CEO Datuk Ts Saipolyazan M Yusop said the partnership reflects the state investment arm’s focus on strategic developments that support Selangor’s long-term growth. He said the project is expected to become a key growth hub within IDRISS, strengthening the state’s aviation and industrial ecosystem due to its proximity to KLIA. This marks the second collaboration between SD Guthrie and MBI Selangor, following an earlier integrated development project in Carey Island.

Energy & Technology

Malaysia Unveils World’s First AI-Powered Review System For Badminton

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Malaysia has made a major breakthrough in badminton with the launch of the world’s first AI-powered instant review system (IRS) to receive Badminton World Federation (BWF) approval. The world’s first AI-powered instant review system unit at the PETRONAS National Under-18 Championships 2026 yesterday.  Developed by Malaysian sports-technology firm Revealtek Sdn Bhd, the system was deployed at the PETRONAS National Under-18 Badminton Championship in Selangor from April 22 to 27, bringing elite-level line-calling technology into grassroots competition. It was previously used at the Affin 100Plus Junior Elite Tournament (Leg 2 – Group B) earlier this month. Players can challenge line calls using AI-powered cameras, with match footage reviewed and decisions delivered within seconds on whether a shuttle lands in or out. The result is displayed on screens visible to players, officials and spectators. Revealtek Sdn Bhd is a sports technology company providing digital officiating and broadcast solutions for badminton tournaments. The system is deployed through the company’s Reveal Digital Badminton Suite, which integrates the Reveal Lens Instant Review System (IRS), a digital scoring platform for umpires, and a live streaming system with real-time score overlays for stadium displays and broadcast audiences. Reveal Lens is one of only four systems globally approved by the BWF and is designed for rapid deployment across courts of varying sizes without fixed infrastructure. It can be set up in under an hour and operates fully wirelessly. Nizam Mohamed,CEO & Co-Founder, Revealtek. Chief executive officer and co-founder Nizam Mohamed said the system was developed to address cost and infrastructure barriers that have traditionally limited instant review technology to elite tournaments. He said comparable systems used at international events typically require fixed installations, specialist crews and operational costs that can exceed USD 100,000 per tournament, placing them out of reach for the vast majority of competitions worldwide. “Until now, this level of officiating technology has largely been limited to international tournaments with significant resources. With Reveal Lens, a junior tournament in Selangor can have the same officiating standard as a world-tour event in Denmark and we welcome organisations ready to take that step with us,” he added. The system also provides video replay data for use in performance analysis by players and coaches. Nizam said it is designed to operate on any court with minimal setup, reducing technical requirements and making it accessible to national associations, state bodies and tournament organisers. Revealtek CEO Nizam Mohamed received a token of appreciation for deploying the world’s first AI-powered instant review system at the PETRONAS National Under-18 Championships 2026. Beyond line calls, it helps maintain match flow through faster decisions, reduces disputes through visual evidence, and supports post-match review for training purposes. “We have received positive feedback from players, coaches and officials, who noted clearer line calls and an improved match experience even at junior-level competition,” he added. Revealtek aims to make its officiating technology accessible across all levels of badminton, including international tournaments, state associations, private clubs, social events and recreational matches, supported by flexible pricing for wider adoption of professional systems. This positions Malaysia as a global supplier of badminton technology.

Investment & Market Trends

Crewstone Invests In AI Firm TROOPERS, Valued At RM253.4 Million

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Crewstone International Sdn Bhd has today announced its investment in TROOPERS, an AI-powered workforce infrastructure company valued at RM253.4 million, as the company advances a RM31.2 million growth capital raise to support its next phase of scale across Southeast Asia’s RM42.8 billion staffing, workforce management and HR technology sub-market. Keng Fai Wong, Chief Executive Officer of Crewstone International (second left), Joshua Tan, Chief Executive Officer of TROOPERS (centre), and Craig Goonting, Chief Financial Officer of TROOPERS, commemorating a strategic funding milestone between both parties. Combined Malaysia and Singapore revenue grew at approximately 49% CAGR over the last two years, reflecting enterprise demand that is recurring, operationally embedded and increasingly scalable across regional labour markets. Since its establishment in 2017, TROOPERS has operated across on-demand gig staffing, workforce onboarding and management, and HR SaaS solutions, serving a roster of prominent regional and multinational clients across FMCG, food and beverage, retail and logistics. The business has already built a meaningful operating scale, with 148,000+ active users across Malaysia and Singapore and 670,000+ completed shifts, pointing to a platform that is no longer proving demand but increasingly processing repeat labour flow at volume. On the demand side, TROOPERS served 840+ clients, retained approximately 95% of them, and generated 95.9% recurring projects, demonstrating repeat enterprise usage rather than one-off campaign activity. On the execution side, the platform recorded 95%+ machine-learning matching, indicating both matching efficiency and a live billing engine already embedded in real customer workflows. As the platform continues to scale, TROOPERS is also strengthening the part of the model that matters beyond growth alone, namely how it supports and protects the workforce behind that growth. This is reflected both at the policy level, with CEO Joshua Tan appointed as one of the 26 inaugural members of Malaysia’s Majlis Penasihat Gig formed alongside the Gig Workers Act 2025, and at the operating level through TROOPERKS, which provides platform-funded benefits including supplementary personal accident coverage, e-healthcare access and shift cancellation compensation. Craig Goonting, Chief Financial Officer of TROOPERS Innovation Sdn Bhd (second left), pictured with the broader Crewstone team. In Malaysia, employed persons reached 17.13 million in December 2025, with services employment growth led by wholesale and retail trade, accommodation and food & beverage services, and information and communication sectors, where workforce gaps show up immediately in lost sales, slower service, weaker customer experience and operational bottlenecks. “What differentiated Crewstone was how quickly the team understood both the mechanics and the opportunity in our business. “They moved fast, underwrote the platform properly and structured around what TROOPERS actually needs as we scale. Very few capital partners combine speed, commercial sharpness and strategic fit that way. That matters when you are already serving enterprise clients at scale and building toward a much larger next chapter,” said Craig Goonting, Chief Financial Officer of TROOPERS. “Within Crewstone’s broader responsible investing approach, TROOPERS sits at the intersection of commercial relevance and measurable workforce impact. “The platform broadens access to employment by making job opportunities more visible to workers who might otherwise only see what is available within a limited physical radius or through fragmented, informal networks. For employers, it provides access to a broader and more responsive labour pool at a time when workforce availability remains a practical constraint across many sectors,” said Keng Fai Wong, Chief Executive Officer of Crewstone International.

The Executives

Cloud Space Says 70–80% Of Firms Still In AI Pilot Stage, Wins 2026 Google Cloud Partner Of The Year Malaysia

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 Aaron Chong (Director – COO of Cloud Space). 1. Many organisations are still stuck at the pilot stage when it comes to AI. What are you seeing on the ground? We are seeing a clear shift from experimentation to execution across the market. Over the past year, conversations have moved from “what AI can do” to “how quickly it can be deployed to deliver measurable outcomes”. Based on our observations across engagements, approximately 70–80% of organisations are still in the pilot or early implementation stage, which highlights the gap between ambition and execution. The challenge now is less about access to technology and more about integration. Many organisations have the tools, but aligning them with business processes and ensuring adoption across teams remains a key hurdle. This highlights that many businesses have their AI “engine” started (pilot or early implementation stage), but the AI “gears” are not yet fully engaged or integrated with their respective business processes (advanced stage of AI integration). 2. Where are companies seeing the most immediate value from cloud and AI adoption? The most immediate value is typically seen in operational efficiency. This includes areas such as automating repetitive processes, improving data accessibility, and enabling faster decision-making. In our experience, organisations can achieve up to: • 40% improvement in overall work efficiency or productivity across sectors• 30% reduction in production time, particularly in the E&E manufacturing sector• 80% increase in test execution speed, with significant impact in software development or when AI is effectively embedded into workflows (Based on reports from IDC, PwC, and selected ASEAN market studies) Cybersecurity and customer experience are also seeing strong returns, particularly where AI enhances accuracy and response speed in real-time environments. 3. Cloud Space has worked with a range of leading enterprises across different sectors. What do these engagements reveal about enterprise priorities today? Enterprises are becoming significantly more outcome-driven. There is less interest in adopting technology for its own sake, and more focus on how it translates into measurable improvements. This includes areas such as cost optimisation, scalability, and operational resilience. Organisations are looking for solutions that support long-term growth rather than short-term gains. As a result, the role of implementation partners is evolving. Clients expect partners not only to deploy solutions, but also to guide them through the transformation process and ensure successful adoption. 4. How are enterprises approaching cybersecurity today? Cybersecurity has moved firmly into the boardroom. It is no longer viewed as a purely technical function, but as a critical component of overall business resilience. Organisations are increasingly adopting AI-driven approaches to enhance threat detection and response. This includes a shift towards more proactive and automated security operations. The focus is now on transforming Security Operations Centres to improve response times and operational efficiency. This reflects a broader shift towards integrated, intelligence-led security frameworks. Cloud Space Named 2026 Google Cloud Partner of the Year for Malaysia (L-R: Benjamin Kok, Head of Data & Projects; Kishan Singh, Head of Sales). 5. Cloud Space was named the 2026 Google Cloud Partner of the Year for Malaysia. How does that recognition translate into business impact? The recognition reinforces confidence among clients, particularly for large-scale and high-stakes projects. It signals that we have the capability to deliver consistently across different industries. It also strengthens our position within the broader ecosystem, including our collaboration with Google Cloud. This enables us to access new technologies earlier and bring them to market more effectively, while supporting our customers in adopting and embedding them into their business processes. At a broader level, it highlights the growing capability of Malaysian firms within the global cloud and AI landscape, which is an encouraging development for the industry. 6. Your team has grown from four to over 50 people in a short period. How do you maintain quality while scaling? Maintaining quality starts with building a strong technical foundation. We invest heavily in developing expertise across cloud, data, security, and AI to ensure consistent delivery for our customers. We are also deliberate in the type of projects we take on. Rather than scaling purely for volume, we focus on engagements where we can deliver meaningful impact. This approach, anchored by our highly experienced talent and specialised technical expertise, allows us to grow sustainably while maintaining the highest standards of delivery. In a field where execution quality directly influences client outcomes, our focus remains on ensuring that every deployment translates into tangible, positive business impact. 7. How do you see the competitive landscape evolving in the next few years? The market is likely to become more specialised. As technologies mature, clients will increasingly look for partners with deep expertise rather than generalist capabilities. This is particularly true in areas such as AI, data, and cybersecurity, where implementation requires a high level of technical depth. At the same time, competition will intensify as more players enter the market. Differentiation will depend on the ability to deliver consistent, measurable outcomes. 8. What challenges do organisations face when scaling AI initiatives? One of the main challenges is integration. Many organisations operate with legacy systems, which makes it more complex to implement new technologies. There is also a need to align AI initiatives with business objectives. Without clear direction, projects can become fragmented and fail to deliver meaningful outcomes. Additionally, change management plays a critical role. Ensuring that teams understand and adopt new technologies is essential for long-term success. 9. What role do partners like Cloud Space play beyond implementation? Are you increasingly becoming strategic advisors? The role of partners is evolving beyond implementation into a more strategic function. Organisations are seeking guidance not only on how to deploy technology, but also on how to align it with broader business objectives. This includes areas such as identifying the right use cases, prioritising investments, and ensuring that solutions are scalable over time. In many cases, the challenge is not the technology itself, but how it integrates into existing operational processes and aligns with the organisation’s long-term strategy. As a result, partners

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