Property

OSK Holdings Bhd has entered into an agreement to acquire a freehold land parcel measuring approximately 98.33 acres in Bandar Sungai Petani, Kedah, for RM40.69 million from SP Baiduri Sdn Bhd. In a statement, OSK said the acquisition represents a strategic move to strengthen its presence in Sungai Petani while supporting its long-term property development plans in Kedah. The group said the land is well-positioned due to its strong connectivity to key regional hubs including Gurun, Alor Setar, Butterworth and Kulim, making it suitable for future residential and commercial development. It added that the site is also supported by established public amenities such as schools, retail outlets, healthcare facilities and safety services, which further enhance its attractiveness for township development. OSK said the proposed project is planned as a large-scale integrated township comprising double-storey terrace homes, townhouses and apartments. The development is expected to generate an estimated gross development value (GDV) of RM489 million once completed. The group said the acquisition aligns with its strategy to expand its property development footprint in high-growth areas, leveraging improving infrastructure and rising demand for housing in northern Peninsular Malaysia.

International Workplace Group (IWG), the world’s largest platform for work and parent company of brands including Regus, HQ, Signature and Spaces, is strengthening its presence in Malaysia with the launch of a new Spaces centre at Republik TTDI in Taman Tun Dr Ismail, Kuala Lumpur. (L-R): Subha Thurairaja, Partner Sales Manager, IWG; Nik Ashman, Executive Director, Nik Ariff, Executive Director, and Datuk Abdul Ghani, Director, Kuala Sentral Point Sdn Bhd; and Vijayakumar Tangarasan, Country Head for Malaysia, Singapore and Brunei, IWG at the launch of Spaces Republik TTDI. The new centre is the result of a strategic partnership with Kuala Sentral Point Sdn Bhd, representing a pioneering shift for the local property landscape. By leveraging IWG’s global platform, Kuala Sentral Point is introducing a new way of working to the TTDI area, transforming its property into a hub for flexibility, creativity and collaboration. Spanning 24,700 sq ft, Spaces Republik TTDI offers a versatile mix of private offices, collaborative coworking areas, professional meeting rooms and dedicated creative zones. Designed to cater to a diverse range of industries — from professional services to creative arts and technology — the centre supports tailored workspace solutions, allowing businesses of all types and sizes to configure their workspace environment according to specific operational needs. Strategically located in the heart of TTDI, the centre provides seamless access to the Damansara-Puchong Highway (LDP) and is just a short walk from the TTDI MRT station. It is also in close proximity to major commercial hubs across the Klang Valley, making it a prime destination for companies of all sizes. This opening follows a year of significant growth for IWG in 2025, marked by its highest-ever revenue and the addition of 1,132 new centre signings and 782 openings globally. This growth is mirrored in Malaysia, where IWG now operates 48 centres across its four brands — Signature, HQ, Regus and Spaces — including 35 locations within Kuala Lumpur and Selangor alone. Mark Dixon, CEO and Founder of International Workplace Group PLC, commented: “We are establishing a stronger and much-needed footprint with this latest opening. As an important business hub, TTDI is a fantastic place for us to boost our expansion plans. “We are very pleased to work in partnership with Kuala Sentral Point Sdn Bhd to develop the Spaces brand under a management agreement that will add a cutting-edge workspace to their building. “This new opening comes at a time when more and more companies are discovering that flexible and platform working is incredibly popular with employees, improving their work-life balance and satisfaction, while also providing a multitude of benefits to companies. “Our workplace model is proven to increase productivity and allows for a business to scale up or down at significantly reduced costs while providing access to thousands of locations.” Vijayakumar Tangarasan, IWG Country Head for Malaysia, Singapore and Brunei, said: “We continue to see strong demand for high-quality flexible workspace solutions, particularly in well-connected neighbourhoods like TTDI. “With its accessibility and established business community, Republik TTDI offers an attractive environment for companies that are looking to balance convenience with a more dynamic way of working.” As hybrid working becomes a permanent fixture of the corporate landscape, research underscores its advantages. Studies conducted by IWG in collaboration with workplace consultancy Arup indicate that hybrid models can boost productivity by up to 11% while significantly optimising operational costs. Industry projections suggest that up to 30% of all office space could be flexible by 2030. Nik Ashman, Executive Director of Kuala Sentral Point Sdn Bhd, added: “We are excited to welcome IWG’s Spaces brand to Republik TTDI as part of our vision to create a dynamic and connected business community. “This partnership introduces a new way of working to the area — one that blends flexibility, creativity and convenience for businesses looking to grow and collaborate.” Through its global network of over 5,000 locations across more than 120 countries, IWG continues to lead the transition toward a more scalable and adaptable workspace ecosystem. For more information, visit International Workplace Group

Integrated engineering specialist providing construction management services, mechanical and electrical (“M&E”), and specialised engineering consultancy services, Southern Score Builders Berhad (“SSBB” or the “Group”) (聚宝建设), through its 51%-owned subsidiary, SJEE Engineering Sdn. Bhd. (“SJEE”), has accepted a letter of award from a local construction company to undertake a subcontract project more particularly described as “Supply, Installation, Testing & Commissioning of Electrical, ELV, Telco & Security Works” for a data centre project at a total subcontract sum of RM47.5 million (“Contract”). The Contract is expected to be completed by March 2027, contributing positively to the Group’s earnings from FY26 onwards until its completion. Executive Director and Chief Executive Officer of SSBB, Mr. Gan Yee Hin (颜宇恒) said, “Fresh from securing our largest-ever M&E contract, we are pleased to receive the continued trust of a returning client with this latest data centre job. This is a further testament to the depth of relationships and quality of execution that our M&E division has established over the years, reinforcing SJEE’s healthy customer base and strong standing in the high-tech and data centre space.” “This win brings our total contract value secured in FY26 to RM456.1 million, providing the Group with clear earnings visibility for the coming years. Meanwhile, our team remains actively focused on capitalising on the ample opportunities in the data centre sector, where the tender pipeline continues to be exciting. At the same time, we have been channelling more resources to strengthen and grow the M&E team and will continue to scale up to support the division’s continued growth.”

Ally Logistic Property (ALP), a Taiwan-based logistics and property developer, has launched its first purpose-built smart cold chain facility in Malaysia and its second OMEGA project in the Klang Valley, with an investment of about RM500 million. The facility, known as OMEGA 2 Shah Alam, is located on a 3.64-hectare site in Selangor and is expected to be completed by the second quarter of 2028. ALP said the project will be Malaysia’s first developer-built multi-storey automated storage and retrieval system (AS/RS) cold chain facility, offering about 5.36 hectares of built-up space and more than 30,000 pallet positions. The development will operate on a multi-tenant model, allowing multiple supply chains to share infrastructure, reduce duplication of logistics assets, and lower overall energy consumption. It will also function as a multi-temperature logistics hub, integrating ambient, chilled, and frozen storage zones to serve industries such as food and beverage, pharmaceuticals, retail, and e-commerce. ALP said the project comes amid rising demand for modern cold chain infrastructure in Malaysia, where automated and purpose-built facilities remain limited despite rapid industry growth. The company added that the facility is expected to improve energy efficiency, resource use, and operational performance, aligning with Malaysia’s National Energy Transition Roadmap (NETR) and the New Industrial Master Plan (NIMP) 2030. Bryan Yeo, managing director of Ally Logistic Property Malaysia, said cold chain logistics is becoming increasingly important across sectors such as food distribution, pharmaceuticals, retail, and e-commerce. He added that Malaysia’s cold chain infrastructure market is still underdeveloped in terms of automation, scalability, and energy efficiency. He said OMEGA 2 Shah Alam is designed to address these gaps by offering a smarter and more sustainable logistics solution, while also supporting Malaysia’s broader goal of becoming a high-income, technology-driven economy.

Southern Score Builders Berhad said its 51%-owned subsidiary has secured a RM47.52 million subcontract for infrastructure works on a data centre project. The job was awarded to SJEE Engineering Sdn Bhd by an undisclosed local construction firm. It covers the supply, installation, testing and commissioning of electrical systems, extra low voltage works, telecommunications and security systems, according to a filing on Monday. Work began on May 7 and is scheduled for completion by March 11, 2027. This latest win adds to SJEE Engineering’s growing order book since Southern Score acquired a majority stake in the company in January last year for RM20.66 million. The remaining 49% is held by engineer-turned-businessman Ngo Hea Bing. In March, SJEE Engineering also secured two data centre-related electrical contracts worth a combined RM189 million from a local construction company. Shares of Southern Score Builders Berhad closed 0.5 sen or 0.92% lower at 54 sen on Monday, giving the group a market value of RM1.22 billion.

Tan Sri Syed Mokhtar Albukhary  has emerged as a major shareholder in EcoWorld Development Group Berhad and EWI Capital Berhad after acquiring substantial stakes previously held by Datuk Leong Kok Wah. The acquisition gives Syed Mokhtar control of a 30.1% stake in EcoWorld and a 33.28% stake in EWI Capital, further expanding his property portfolio. The deal value was undisclosed, but based on market prices as of May 15, the combined stakes are estimated to be worth over RM2 billion. According to filings, Leong transferred all his shares in Syabas Tropikal Sdn Bhd to Syed Mokhtar on May 15. Through the transaction, Syed Mokhtar gained indirect holdings in both EcoWorld and EWI Capital. Liew Kee Sin, executive chairman of EcoWorld, welcomed Syed Mokhtar as the group’s new substantial shareholder and expressed optimism about the company’s future growth. The move comes amid reports that Syed Mokhtar is considering an IPO for WM Senibong Bhd, a joint venture linked to Australian developer Walker Corp, which could reportedly raise up to RM500 million. EcoWorld owns over 12,000 acres of landbank across the Klang Valley, Johor, Penang and Negeri Sembilan, with an estimated gross development value of RM100 billion. EWI Capital, formerly known as Eco World International, focuses mainly on property developments in the UK and Australia. Shares of EcoWorld Development Group Berhad closed at RM2.09 on Monday, while EWI Capital Berhad ended unchanged at 19 sen.

Axis Real Estate Investment Trust is acquiring an industrial property in Shah Alam for RM38 million in cash in a related-party transaction. In a Bursa Malaysia filing on Wednesday, trustee RHB Trustees Bhd said it had entered into a sale and purchase agreement with Rubicon Assets Sdn Bhd for the leasehold property. The deal is classified as a related-party transaction as Rubicon Assets director and major shareholder Stephen Tew Peng Hwee @ Teoh Peng Hwee is also the non-independent non-executive deputy chairman of Axis REIT Managers Bhd. The property comprises a single-storey detached factory with an integrated double-storey office block and a four-storey factory and storage block, with a net lettable area of about 120,177 sq ft. Axis REIT said the asset is fully leased to three tenants — OCK Telco Infra Sdn Bhd, Tamura Electronics (M) Sdn Bhd and Seng Hup Lightings & Decor Sdn Bhd — generating combined monthly rental income of RM210,476.75. The REIT said the acquisition is expected to be earnings-accretive, supported by stable recurring rental income, and will strengthen long-term portfolio returns. The purchase will be funded via existing bank financing, with Axis REIT’s gearing expected to rise to 32.84%, still within the regulatory limit of 50%. The acquisition is expected to be completed in the second half of 2026. Axis REIT units closed three sen higher at RM2.01 on Wednesday, giving the REIT a market capitalisation of RM4.07 billion.

Tanco Holdings Bhd is entering the concrete products manufacturing business through a joint venture with Hong Kong-based King Well Holdings Ltd (KWHL). In a Bursa Malaysia filing on Monday, Tanco said its indirect wholly-owned subsidiary, Tanco Precast Industries Sdn Bhd, signed a joint venture and shareholders agreement with KWHL to manufacture, supply and sell concrete-related products in Malaysia. Under the agreement, a new joint venture company will be formed, with Tanco holding a 51% stake and KWHL owning the remaining 49%. KWHL is a Hong Kong-incorporated company whose shareholders and board members have experience in the concrete manufacturing industry in China. The new venture plans to set up its first factory on land owned by Tanco and its subsidiaries, while KWHL will lead the factory setup and manufacturing operations. Tanco said the partnership will help strengthen its construction materials supply chain and support its future property development projects, while also tapping into demand for concrete products in Malaysia. The agreement is subject to feasibility assessments and approvals from relevant Malaysian authorities. Tanco shares closed one sen higher at RM1.67 on Monday, giving the group a market capitalisation of RM10.24 billion.

Parkson Retail Group Ltd has renewed the tenancy for its Shanghai Hongqiao property in China in a deal involving a right-of-use asset valued at about RMB374.5 million. In a stock exchange filing, the group said its indirect wholly-owned subsidiary, Shanghai Hongqiao Parkson Development Co Ltd, signed the renewal agreement with Shanghai Changning Real Estate Management Co Ltd. The renewed tenancy will run from July 1, 2026 to Dec 31, 2036, covering about 49,480 sq m of retail space in Shanghai’s Changning district. Under the agreement, monthly rent will be about RMB5.19 million for the first five years, rising to RMB5.34 million for the remaining term. Parkson said the transaction is classified as a very substantial acquisition under Hong Kong listing rules due to the size of the recognised right-of-use asset under IFRS 16. The company will seek shareholder approval for the deal at an extraordinary general meeting. Parkson said the Shanghai Hongqiao outlet remains strategically important due to its location in a mature commercial area and its “Urban Outlets” retail concept featuring a Korean Wave theme. The group added that the fixed-rent structure and planned upgrades are expected to improve cost visibility, support refurbishment efforts and strengthen the store’s competitiveness and customer experience.

Gamuda Bhd has secured a RM3.3 billion contract for the Kaohsiung MRT Xiaogang–Linyuan Line project in Taiwan. The contract was awarded by the Kaohsiung City Government Mass Rapid Transit Bureau. Gamuda said the project strengthens its presence in Kaohsiung, where it is already involved in several rail infrastructure developments, including the MRT Yellow Line and Orange Line projects. The contract was awarded to a joint venture between Gamuda and Taiwanese firm Shang Ting, with Gamuda holding a 70% stake, equivalent to RM2.31 billion of the total contract value. The seven-year-and-four-month project includes the construction of three underground stations, one elevated station, nearly 4km of underground twin-track railway, and six cross passages. This marks Gamuda’s 10th contract win in Taiwan since entering the market in 2002. Apart from MRT projects, Gamuda’s portfolio in Taiwan also includes marine and power transmission infrastructure works.