Property

PETALING JAYA, Brite-Tech Bhd (BTech) has announced plans to diversify its core operations to include property investment, marking a strategic move to broaden its income sources and strengthen long-term growth prospects. In a filing with Bursa Malaysia, the group said its existing businesses are primarily focused on environmental products and services, system equipment, ancillary products, and investment holding. Currently, most of its revenue is derived from its environmental products and services segment. While continuing to improve the performance of its core business, BTech said it aims to expand its revenue base by exploring alternative income streams. The company noted that income from property rentals — currently classified under its investment holding division — has been increasing, prompting the group to reorganise its operations. “The group plans to carve out its property rental activities into a dedicated business segment, namely property investment, to enable more focused management and growth,” BTech said. The company added that its entry into the property investment business will allow it to generate returns through rental income and potential gains from the resale of investment properties. BTech views the move as a way to ensure stable recurring income while balancing its exposure to cyclical market conditions in its existing environmental services operations.

KUALA LUMPUR, Gamuda Land, the property development arm of Gamuda Bhd (KL), has acquired a site at 14 Marshgate Lane in Stratford, London, for the development of a purpose-built student accommodation (PBSA) project with an estimated gross development value (GDV) of RM600 million. In a statement released on Friday, the company said the 321-bed project will mark Gamuda Land’s first fully owned, self-developed, and self-managed PBSA venture in the United Kingdom. Scheduled for completion in the 2028/29 academic year, the development will be strategically located near University College London’s (UCL) East campus and the London College of Fashion — two institutions with a combined student population exceeding 10,000. It will also be situated close to Westfield Stratford, London’s largest retail destination. The acquisition price for the land was not disclosed. The Marshgate Lane project forms part of Gamuda Land’s broader plan to deliver up to 3,000 student beds across key UK cities within the next five years. With this latest addition, the company’s PBSA portfolio in the UK now comprises 1,232 beds across three sites. Other ongoing projects include Press House in Woolwich, London — a 419-bed joint venture with Q Investment Partners slated for completion in 2027 — and City Wharf in Glasgow, a 492-bed development in collaboration with Dandara Living expected to be completed by 2026. Gamuda Land chief executive officer Chu Wai Lune said the latest acquisition reinforces the company’s long-term strategy to diversify its overseas portfolio and expand its recurring income base through counter-cyclical asset classes. “PBSA remains a resilient investment segment underpinned by strong, steady demand from both domestic and international students,” Chu said. “This segment helps balance our residential and commercial portfolios while providing sustainable long-term returns.” Including the Marshgate Lane project, Gamuda Land’s UK development pipeline stands at approximately £1.5 billion (RM8.4 billion). This includes the £1.2 billion redevelopment of 75 London Wall in partnership with Castleforge, as well as the West Hampstead Central build-to-sell residential project.

KUALA LUMPUR, BWYS Group Bhd, a leading manufacturer of sheet metal products and scaffolding systems, has announced the acquisition of a parcel of freehold industrial land in Kuala Langat, Selangor, for RM94.5 million as part of its long-term expansion strategy. In a bourse filing on Tuesday, BWYS said its wholly owned subsidiary, BW Scaffold Industries Sdn Bhd, entered into a sale and purchase agreement (SPA) with Compass IP Sdn Bhd for the acquisition of a 28.92-acre tract of land located within the Compass @ Kota Seri Langat industrial and logistics hub in Mukim Tanjung Dua Belas, Banting. The hub is strategically situated about 60km southwest of Kuala Lumpur and 37km northwest of Klang. The company said the land purchase would support BW Scaffold’s future operational growth, as it offers a significantly larger area than its current site. “Following our recent joint venture with Runwin International (HK) Holding Group Co Ltd to set up a state-of-the-art colour-coated steel coil production line, this new acquisition marks another step forward in strengthening our production capabilities,” said managing director Kang Beng Hai. “The Banting site will allow us to consolidate our manufacturing and warehousing activities within a modern, integrated industrial hub.” BWYS plans to construct a new manufacturing complex on the land, featuring factory buildings, warehouses, and centralised labour quarters. The new facility will boost the group’s operational capacity and efficiency, supporting its businesses in scaffolding rental and supply, as well as sheet metal product manufacturing, including polyurethane foam sandwich panels, roofing sheets, and roof trusses. Construction of the new plant is expected to begin in the second quarter of 2026. According to BWYS, the move will also generate long-term cost savings by removing the need to pay annual factory rental fees, currently amounting to about RM2.66 million. The acquisition will be financed through a mix of internal funds and borrowings, including RM20 million from proceeds of its Bukit Changgang land disposal. In August, BWYS sold the Bukit Changgang property — comprising factory and office buildings — to Yusin Machinery (Malaysia) Sdn Bhd for RM67 million. Shares of BWYS closed unchanged at 23.5 sen on Wednesday, valuing the group at RM240.93 million.

KUALA LUMPUR, Tenaga Nasional Bhd is forming a consortium with local and international partners to develop the Sarawak–Peninsular Malaysia power interconnection project — a key part of the Asean Power Grid initiative to enhance regional energy connectivity. Tenaga’s chief grid officer Hasmarizal Hassan said the utility giant is finalising discussions with potential partners, targeting a 51:49 equity structure between Tenaga and an international collaborator. The consortium is expected to be finalised by year end, with a full feasibility study slated to begin in early 2026, following the completion of a pre-feasibility study earlier this year. Tenaga Nasional Bhd’s chief grid officer Hasmarizal Hassan. The project, which will transmit up to 2,000 megawatts (MW) of renewable hydroelectric power from Sampadi, near Kuching, to Sedili in Johor via a 700km submarine cable, is designed to support both domestic and regional demand. Hasmarizal said 70% of the generated power is expected to be exported to Singapore, while the remaining 30% will feed into Malaysia’s national grid. “This project is a major milestone under the Asean Power Grid vision. It will not only strengthen Malaysia’s energy security but also position us as a regional clean energy hub,” he said during his keynote at the Asean Energy Business Forum 2025 on Wednesday. Cross-border projects underwayTenaga is also advancing a second power interconnection with Singapore to boost export capacity beyond the existing 1,100MW link. A joint development agreement with SP Group Assets Ltd is scheduled for signing on Oct 16, with a formal exchange on Oct 17. The new project will feature a 500kV substation in Pasir Gudang, Johor, connected to Pasir Ris, Singapore, via a 2km submarine cable, and is targeted for commissioning between 2029 and 2030. In addition, Malaysia is part of the Vietnam–Malaysia–Singapore Interconnection (VMSI) project, estimated at RM21 billion, which aims to transmit 2,000MW of wind power from southern Vietnam to Singapore through Malaysia. The VMSI project — jointly developed by Tenaga, Petroliam Nasional Bhd (Petronas), Vietnam’s PVM, and Singapore’s Sembcorp Industries Ltd — includes a 700km submarine cable from Vietnam to Kelantan and a 782km “supergrid” stretching through Terengganu, Pahang, and Johor. Feasibility studies are due by 2027, with commercial operations expected by 2034. Tenaga is also upgrading the Malaysia–Thailand interconnection, which currently transmits 300MW, to a capacity of at least 1,000MW. Separately, a Sumatra–Melaka interconnection is under pre-feasibility study, supported by the US Trade and Development Agency, as Malaysia explores new grid links with Indonesia to expand renewable energy trade.

KUALA LUMPUR, Crest Builder Holdings Bhd announced that its wholly owned subsidiary, Crest Builder Sdn Bhd, has been awarded a RM23.93 million contract by Quantum Quest Sdn Bhd for reinforced concrete works in a major high-rise residential project located along Jalan Tun Razak, Kuala Lumpur. In a statement, the construction and property development group said the scope of work involves the reinforced concrete structure up to Level 6 for three blocks of serviced apartments and a six-storey podium. The development is part of an upcoming premium residential enclave strategically situated within the city’s central business district. The contract, which is set to commence on Nov 3, 2025, will span a nine-month period and is slated for completion by Aug 3, 2026. Crest Builder said the award underscores its strong track record and expertise in handling large-scale, complex high-rise construction projects in the Klang Valley. “The securing of this contract not only strengthens our order book but also reinforces our position as a reliable and trusted construction partner for high-value urban projects,” the group said, adding that the job is expected to contribute positively to the company’s earnings and net tangible assets for the financial year ending Dec 31, 2025 (FY2025) and subsequent years. The group’s current unbilled order book remains healthy, supporting its revenue visibility over the medium term. Crest Builder said it will continue to pursue both public and private sector projects, focusing on quality execution, cost efficiency, and timely delivery to enhance shareholder value. At Wednesday’s close, shares in Crest Builder rose 1.5 sen or 2.9% to 52.5 sen, valuing the group at RM118.08 million. Despite the modest rebound, the stock is still down 12.5% year to date.

KUALA LUMPUR, Advancecon Holdings Bhd has secured a RM36.1 million contract from Sime Darby Property (Serenia City) Sdn Bhd for earthworks and infrastructure works at Serenia City, Selangor. In a statement, the group said its wholly owned subsidiary, Advancecon Infra Sdn Bhd, will undertake the construction and completion of earthworks and related works for Phases SB2 and SB3 (Bayu Serenia) within the Serenia City Stage 3 township in Dengkil, Sepang. Serenia City, developed by Sime Darby Property, is a major southern Klang Valley township dubbed the “Garden City of KLIA”, featuring residential, commercial, and industrial components with a focus on green design and connectivity. Advancecon group chief executive officer Datuk Phum Ang Kia said the contract win reinforces the company’s standing as a trusted infrastructure partner for large-scale township developments. At Wednesday’s close, Advancecon’s shares rose 0.5 sen or 2.5% to 20.5 sen, valuing the group at RM119.87 million. Year to date, the stock has fallen 21%.

KUALA LUMPUR, Chin Hin Group Property Bhd has mutually agreed with Archmill Sdn Bhd and Suasa Sentosa Sdn Bhd to terminate their development agreement for a proposed high-rise residential project in Dutamas, Kuala Lumpur. Its wholly-owned unit, BKHS Capital Sdn Bhd, executed a deed of revocation with both parties, under which it will refund a RM10 million security deposit to Suasa Sentosa. All parties have agreed to discharge each other from any future claims or obligations. The initial agreement, announced in April last year, involved developing a 2.67-acre freehold parcel in Dutamas into a 974-unit serviced apartment project with a gross development value (GDV) of RM395.5 million and an estimated construction cost of RM323.2 million. The project was slated to commence in May 2025 and be completed by April 2030. The land is currently caveated by the Malaysian Anti-Corruption Commission (MACC) and charged to United Overseas Bank (M) Bhd’s Ipoh branch. Archmill, the registered owner of the land, is controlled by Yew Hock Ming and Manogaran PA Devanathan, while Suasa Sentosa, the beneficial owner, is equally owned by Lau Sheng Ming and Yu Teong Wei. Under the original deal, Chin Hin Property was to pay Suasa Sentosa RM42 million as a security deposit, with the developer entitled to RM353 million “plus 81% of any GDV exceeding RM395 million”, while Suasa Sentosa was entitled to 19% of the GDV. Chin Hin Property’s shares closed unchanged at RM1.21 on Wednesday, valuing the group at RM1.6 billion. Year to date, the counter has fallen by nearly half.

KUALA LUMPUR, A total of 90,779 housing loan applications worth RM21.5 billion have been approved under the Housing Credit Guarantee Scheme (SJKP) to support homeownership among the B40 and M40 income groups, the Dewan Rakyat was told on Monday. Deputy Housing and Local Government Minister Datuk Aiman Athirah Sabu said that young Malaysians aged 40 and below made up the majority of the approved applicants, accounting for 89.56% of the total. “This includes around 15,000 borrowers aged 18 to 25, about 31,000 borrowers aged 26 to 30, 22,356 borrowers aged 31 to 35, and 12,799 borrowers aged 36 to 40,” she said in response to Azli Yusof (Pakatan Harapan–Shah Alam), who had asked about homeownership support for individuals without fixed income, including gig workers. Aiman Athirah noted that under Budget 2026, Prime Minister Datuk Seri Anwar Ibrahim announced an additional RM20 billion in guarantees for the SJKP scheme to further assist first-time homebuyers. “This is good news for the people, especially once the budget receives parliamentary approval,” she added. During his budget speech last Friday, Anwar said the expansion of the scheme is expected to benefit another 80,000 first-time homebuyers. The overall guarantee ceiling will be raised from RM10 billion to RM20 billion, enabling more gig workers and self-employed individuals to secure home financing. Separately, Aiman said the government is also pursuing other initiatives to help low-income earners, including rent-to-own programmes under the People’s Housing Project (PPR) and People’s Residency Programme (PRR), both overseen by the Housing and Local Government Ministry.

KUALA LUMPUR, Paragon Globe Bhd has entered into a related-party deal to acquire three parcels of land in Johor for RM11.48 million from its executive chairman Datuk Sri Edwin Tan Pei Seng and Datuk Seri Godwin Tan Pei Poh, with plans to develop affordable housing on the site. The 11.84-hectare property is purchased from Common Development (M) Sdn Bhd, a company jointly owned by Pei Seng and Pei Poh, who hold 65% and 35% stakes respectively. Both also collectively control 56.79% of Paragon Globe through their investment vehicle, Paragon Adventure Sdn Bhd. Paragon Globe said the acquisition aligns with the Johor Housing Development Corporation (PKPJ)’s requirements for affordable housing. The company plans to develop a residential project on the land under the Johor affordable housing programme, following PKPJ’s planning and design guidelines. Situated along Jalan Besar in Simpang Renggam, Johor, the land benefits from strong connectivity and is surrounded by established residential, commercial, and industrial areas. Its proximity to the North-South Expressway and nearby amenities makes it suitable for affordable housing development, the company noted. The move is also expected to diversify Paragon Globe’s development portfolio by adding residential projects to its existing industrial and affordable housing ventures, broadening revenue streams and supporting sustainable growth. The transaction is slated for completion within nine months from the date of the sale and purchase agreement. By Monday’s close, Paragon Globe shares fell 2.5 sen or 3.6% to 67.5 sen, giving the company a market capitalisation of RM504 million. The stock has gained 85% year to date.

KUALA LUMPUR, Magma Group Bhd and KLCC Holdings Sdn Bhd are divesting the 519-room Impiana KLCC Hotel for RM315 million to Harum Aspirasi Sdn Bhd, a company largely owned by the Valiram family, known for its luxury retail business. The sale confirms an earlier The Edge report in February that the hotel was being put up for sale. Magma is disposing of its 20% stake in Heritage Lane Sdn Bhd — the hotel’s owner — while KLCC Holdings is selling its remaining 80%. The sale price, which exceeds the RM300 million market valuation, signals strong investor confidence, both companies said in a joint statement. Magma will receive RM63 million in cash for its stake and intends to use around RM45 million to repay borrowings, fund operations, and cover expenses. The repayment is expected to save about RM3.9 million in interest costs and strengthen its balance sheet. The transaction allows Magma to unlock value from a non-core asset, reduce debt, and focus on higher-growth ventures. Upon completion, Heritage Lane will no longer be part of the Magma group. The deal, subject to shareholder approval, is expected to generate a gain of about RM20 million for Magma and be completed by the first quarter of 2026. Magma’s shares closed unchanged at 31 sen on Friday, valuing the company at RM521.14 million. Year-to-date, the counter has gained 40.91%.