Property

Chin Hin Group Property Bhd has called off the RM74 million sale of its commercial vehicle and bodyworks businesses after the buyer was unable to secure financing, delaying the company’s plan to concentrate fully on property development. In a Bursa Malaysia filing on Thursday, the group said it had mutually agreed with N&K Resources (M) Sdn Bhd to terminate the share sale agreement dated Aug 14, 2025, after the buyer failed to obtain bank financing covering at least 70% of the disposal price by the extended deadline of Jan 14. N&K Resources is a real estate company owned by All Trade Resources (Malaysia) Sdn Bhd. Chin Hin had intended to divest its entire equity stakes in four subsidiaries: Boon Koon Vehicles Industries Sdn Bhd, BKCV Sdn Bhd, Boon Koon Fleet Management Sdn Bhd, and BK Fleet Management Sdn Bhd. The company said it will refund the RM7.4 million deposit paid by the buyer, without interest, and confirmed that both parties will have no further obligations under the agreement. Chin Hin Property added that the cancellation will not affect its issued share capital or have any material impact on its net assets, gearing, or earnings for the financial year ended Dec 31, 2025. The divestment, initially announced in August 2025, was aimed at enabling the group to focus on residential property projects, strengthen cash flow, and redeploy proceeds for landbank acquisitions and ongoing developments. The sale was expected to generate a pre-tax gain of RM2.4 million and was targeted for completion in the first quarter of 2026. Shares of Chin Hin Property closed up one sen, or 0.85%, at RM1.18 on Thursday, giving the group a market value of about RM1.64 billion. The stock has gained more than 7% over the past year.

IGB Bhd’s associates have sold UK-based assets, including the St Giles Hotel London, for a total of £220 million (RM1.2 billion). In a Bursa filing on Monday, the company said its 49.47%-owned associates — 12 Bedford Avenue Ltd (Bedford) and St Giles Hotel Limited (SGHL) — entered into two separate sales agreements last Friday. The announcement was made after trading hours on Jan 9, 2026. The first deal saw Bedford sell all shares of its wholly owned subsidiary, Ravencroft Investments Inc (RII), to Hiro Intermediate Holdings Ltd. The second involved SGHL selling the St Giles Hotel London’s business and assets to Bedford Avenue Hotel Opco Ltd. The sale price was agreed upon after fair negotiations, with the latest valuation of the hotel, conducted on July 24, 2024, at £228.5 million. IGB’s share of the associates’ net gain from the transactions is estimated at RM452.6 million. Both deals were completed on Jan 9, 2026, with agreements executed and payments received. Apart from Datuk Seri Robert Tan Chung Meng — a director of the selling entities — and Wah Seong Manufacturing Sdn Bhd, a major shareholder in both associates with a 45.91% stake, no other IGB directors, major shareholders, or connected persons were involved in the transactions. Trading of IGB shares was temporarily suspended on Monday morning and resumed at 10am.

Sarawak’s transport landscape is set for a major transformation with the launch of the autonomous rapid transit (ART) system, which is scheduled to begin operations this year along the Samarahan–Kuching route. Plans are already underway to extend the ART network to the new Kuching International Airport in Tanjung Embang, Asajaya district, in the Samarahan Division. Sarawak Tourism, Creative Industry and Performing Arts Minister Datuk Seri Abdul Karim Rahman Hamzah. Sarawak Tourism, Creative Industry and Performing Arts Minister Datuk Seri Abdul Karim Rahman Hamzah said the ART route would operate similarly to the Kuala Lumpur International Airport Terminal 1–Terminal 2 link, providing fast and efficient passenger transfers. “All this is expected to be realised within the next five years,” he said at the closing of the Asajaya Ambal Festival 2026. Powered by hydrogen, the ART system will serve as the backbone of the billion-ringgit Kuching Urban Transportation System (KUTS), developed by Sarawak Metro Sdn Bhd. The first stage of the project is targeted for operational launch by the end of this year. Abdul Karim, who also serves as Asajaya assemblyman, highlighted that the airport project will impact several villages, with land acquisition and compensation currently in progress. The new airport is projected to handle up to 15 million passengers annually and will feature state-of-the-art infrastructure, according to Sarawak Premier Tan Sri Abang Johari Tun Openg. In addition to the airport, the state plans to develop a new deep-sea port at Tanjung Embang. Abdul Karim noted that with these two major projects, Asajaya—once a remote and difficult-to-access area—will emerge as a key transportation hub for Sarawak. Earlier this year, Sarawak Metro officially transitioned into a state-owned enterprise under the Sarawak State Financial Secretary, marking an important step in the state’s corporate restructuring efforts. Mazli Mustaffa, Sarawak Metro’s CEO, said the move demonstrates the government’s commitment to streamlining operations and enhancing public transport development. “This is an exciting phase for Sarawak Metro, but it also brings greater responsibility with more deliverables in the years ahead,” he said. Mazli noted that 2026 will be a particularly demanding year as major infrastructure work for KUTS ramps up, with revenue service for the ART system’s first phase expected by year-end. Last week, he briefed Sarawak Transport Minister Datuk Seri Lee Kim Shin on progress at the ART interchange station at Simpang Tiga. Construction of the ART network began two years ago, starting with the Blue Line, followed by the Red Line. The first phase of KUTS spans 69.9km, comprising the Blue, Red, and Green lines, and will include 28 stations. Blue Line: 27.6km from Rembus near Summer Mall in Samarahan to Hikmah Exchange in Kuching city centre. The Rembus depot will serve as the central hub for ART operations and administration. Key stations will include University Malaysia Sarawak, Sarawak Heart Centre, Sarawak General Hospital, Swinburne University, major shipping complexes, and other strategic locations. Red Line: 12.3km connecting Kuching Sentral regional bus terminal to Pending, with stations at the new Kuching International Airport and prominent shopping centres. Green Line: 30km from Pending to Damai Central in Santubong. Once complete, the ART system will provide seamless, efficient, and environmentally friendly transport across Kuching and Samarahan, significantly enhancing connectivity for residents, businesses, and visitors alike.

Insights Analytics Bhd (KL:IAB) has secured a RM58.4 million sub-contract to carry out infrastructure works for the proposed Betong to Pusa Regional Water Supply Grid in Sarawak, marking a significant boost to the group’s order book. The sub-contract was awarded to the company’s wholly-owned subsidiary, Insights Analytics Technologies Sdn Bhd (IATSB), by Bumia Sdn Bhd, as stated in a Bursa Malaysia filing on Thursday. The scope of works under the contract encompasses pipeline installation, mechanical and electrical systems, and other associated infrastructure works essential for the successful delivery of the regional water supply project. The project is set to commence on Jan 12, 2026, with an expected completion date of July 11, 2028. Payments for the sub-contract will be made on a monthly, firm-price basis, calculated based on the work completed and materials delivered. Insights Analytics said the project is expected to contribute positively to the group’s earnings throughout the contract period. The award comes on the heels of notable corporate developments for the company, including the appointment of former senator Datuk Dayang Madinah as an independent director. Dayang Madinah is the sister of Sarawak Premier Tan Sri Abang Johari, and her presence on the board is seen as a strategic move to strengthen the company’s governance and regional ties. Since its ACE Market debut on Oct 27, 2025, Insights Analytics shares have seen a remarkable rally, climbing 378% from the IPO price of 36 sen to close at RM1.72 on Thursday. The counter’s recent surge has positioned the Sarawak-based firm with a market capitalisation of RM946 million. The Betong to Pusa water supply project is a critical infrastructure initiative aimed at improving regional water accessibility and supporting long-term socio-economic development in Sarawak. With the sub-contract now secured, Insights Analytics is set to play a key role in enhancing the state’s water supply network while reinforcing its reputation as a rising player in Malaysia’s infrastructure and engineering sector.

Paramount Corp Bhd is strengthening its land bank with the acquisition of a 2.62-acre freehold parcel in Putrajaya, as part of its ongoing land replenishment strategy that prioritises well-located sites with strong fundamentals, excellent connectivity and readiness for development. In a statement, the property developer said its wholly owned subsidiary, Phoenix Blanc Sdn Bhd, has entered into a sale and purchase agreement with Cahaya Nusantara Sdn Bhd to acquire the land for RM40 million in cash. The acquisition will be financed through a combination of internally generated funds and bank borrowings. The land is situated within the Putrajaya Sentral masterplan area, a key growth zone in the administrative capital. It enjoys close proximity to Putrajaya Sentral Station, a major integrated transportation hub that connects the MRT Putrajaya Line, the ERL KLIA Transit and various bus services. The strategic location provides direct access to Putrajaya, Cyberjaya, Kuala Lumpur city centre and Kuala Lumpur International Airport, enhancing its appeal for residential development. Paramount plans to develop a high-rise residential project on the site, with an estimated gross development value (GDV) of RM323 million. Subject to approvals, the project is expected to be launched approximately one year after the completion of the sale and purchase agreement. The group said the acquisition aligns with its disciplined growth strategy, allowing it to secure quality land in established and well-connected urban locations to support future developments and long-term value creation.

Sunway Bhd has acquired three land parcels in Selangor and Penang for RM179.8 million, in a move to strengthen its presence in key urban growth corridors. Spanning nearly nine acres, the acquisitions involve parcels in Puchong and USJ 1, Selangor, as well as George Town, Penang. They are earmarked for mixed-use developments with a combined estimated gross development value (GDV) exceeding RM1 billion, according to a press statement issued on Monday (Jan 5). Spanning nearly nine acres, the acquisitions involve parcels in Puchong and USJ 1, Selangor, as well as George Town, Penang. In Puchong, Sunway Kiara Sdn Bhd acquired a 6.77-acre leasehold parcel from Glomac Al-Batha Sdn Bhd for RM97.3 million. The site has direct access to the Damansara-Puchong Expressway and Shah Alam Expressway. With a GDV of RM770 million, the project will be developed into a mixed-use project with serviced apartments and neighbourhood retail. In USJ 1, Rich Worldclass Sdn Bhd acquired a 1.12-acre freehold parcel for RM21 million from the estate of the late Yong Peng Seng @ Yong Peng Sin. The site adjoins Sunway’s existing two-acre land in the area and is located next to the South Quay-USJ 1 BRT station, enabling a consolidated development footprint of over three acres. Plans for the site include a transit-oriented development near Sunway City Kuala Lumpur, which houses Sunway Pyramid, Sunway Medical Centre and Sunway University. In Penang, Sunway Bintang Sdn Bhd acquired a 1.05-acre freehold parcel along Jalan Pangkor for RM61.451 million from Technisense Sdn Bhd. Situated 500m from Gurney Bay and near key retail and medical facilities, the site is earmarked for a tourism-oriented mixed-use project with a GDV of RM274 million. “These acquisitions are part of our long-term strategy to strengthen Sunway’s presence in key growth corridors while replenishing our land bank with prime, well-located sites,” said Sunway Property managing director Chung Soo Kiong in the statement. He adds that Puchong and USJ 1 will allow the company to introduce integrated, transit-oriented developments within mature townships, while the expansion into George Town reinforces the confidence in Penang’s continued growth as a regional hub for investment and tourism. All three projects will be guided by the group’s proprietary Sunway Design and Development Architecture (SDDA), which integrates sustainability, innovation, health and wellness, and lifestyle features into its developments.

AWC Berhad’s wholly-owned subsidiary, Qudotech Sdn. Bhd., has secured a subcontract from Gamuda Engineering Sdn. Bhd. for the cold water, rainwater harvesting, and sanitary system works at the hyperscale data centre in Eco Business Park V, Puncak Alam, Selangor. The project is scheduled to start on 8 December 2025 and is expected to be completed by 28 February 2027 for Facility 1 and 1 September 2027 for Facility 2. Dato’ Ahmad Kabeer bin Mohamed Nagoor, Group CEO/President of AWC Berhad, said, “We are grateful for Gamuda’s continued confidence. Following our successful completion of the first data centre project, being awarded a second contract—more than double the size—is a strong endorsement of our Engineering Division’s capabilities. We are confident in delivering the project on schedule.” He added, “Malaysia’s data centre industry is still growing, and we see significant opportunities ahead. This win, along with contracts secured across our Facilities, Environment, Engineering, and Rail divisions for FY26, highlights a promising outlook. Our total contract wins for FY26 have reached approximately RM424 million, providing earnings visibility for the coming years.” As of September 2025, AWC’s order book stood at RM528 million, excluding seven contracts secured after 30 September 2025 worth RM412.3 million.

PTT Synergy Group Bhd has secured a significant earthworks and ancillary works contract worth RM35.88 million from Sime Darby Property Bhd, marking another milestone in the company’s construction portfolio. According to a filing with Bursa Malaysia, the contract has been awarded to PTT Synergy’s wholly owned subsidiary, Pembinaan Tetap Teguh Sdn Bhd. The scope of work involves comprehensive earthworks and supporting construction activities for the Bandar Bukit Raja Business Park, located in Kapar, Klang. The project is part of Sime Darby Property’s ongoing development efforts to expand commercial and industrial infrastructure in the region. The pre-possession phase of the project is scheduled to begin on December 18, 2025, with full possession commencing on January 5, 2026. The project is expected to reach completion by September 4, 2027, providing PTT Synergy with a clear timeline for delivery and operational planning. The company noted that the award of this contract will not impact its share capital or the holdings of substantial shareholders for the financial years ending June 30, 2026, through June 30, 2028. While the letter of award is not anticipated to have a material effect on PTT Synergy’s net assets, the project is expected to provide a positive contribution to the group’s earnings over the contract period. “This contract further reinforces PTT Synergy’s capability in handling large-scale earthworks projects and demonstrates our ongoing commitment to delivering quality infrastructure solutions,” the company said in its filing. “We remain focused on operational excellence and timely delivery to support Sime Darby Property’s ambitious development plans.” Following the announcement, PTT Synergy’s shares closed unchanged at RM1.37 on Tuesday, giving the company a market capitalisation of RM599.46 million. The stock has recorded a 22.3% gain year-to-date. Meanwhile, Sime Darby Property also closed at RM1.37, with a market value of RM9.32 billion, though its shares have declined 18.9% so far this year. This new contract adds to PTT Synergy’s growing order book and strengthens its presence in Klang Valley, where industrial and commercial property development continues to attract significant investment. The group’s expertise in earthworks and supporting infrastructure positions it well to benefit from ongoing construction demand in Malaysia’s expanding property sector.

Geohan Corporation Bhd’s wholly-owned subsidiary, Geohan Sdn Bhd, has secured two significant contracts from SRS LRT Sdn Bhd, collectively valued at RM59 million, marking another milestone in the company’s continued expansion in the infrastructure sector. The announcement was made in a Bursa Malaysia filing today. The contracts, awarded as letters of award (LOAs), relate to the Penang Light Rail Transit (LRT) Mutiara Line project, a key public transport initiative aimed at enhancing connectivity across the state. Specifically, the two sub-packages, BP01 and BPO2, are valued at RM31.20 million and RM27.80 million, respectively. These projects involve comprehensive bored piling construction and associated civil works along the LRT line, covering areas from Gelugor to the Penang Pesta vicinity and Setia SPICE. Construction for sub-package BP01 is scheduled for completion by March 31, 2027, while sub-package BPO2 is expected to finish by April 30, 2027. Geohan said the contracts are anticipated to boost the company’s earnings visibility over the next two years, supporting sustained revenue growth and strengthening its market position in foundation and geotechnical works. Lee Kim Seng, Geohan’s managing director, expressed confidence in the company’s ability to deliver the projects efficiently and to high standards. “These contracts reflect our continued track record in executing complex infrastructure projects successfully. We remain committed to delivering exceptional results for our clients while ensuring timely completion and maintaining quality standards,” he said. The new contracts are also expected to enhance Geohan’s portfolio in the public transport sector, reinforcing its reputation as a reliable partner for large-scale civil engineering projects. With these awards, the group continues to capitalize on growth opportunities within Malaysia’s expanding rail and urban infrastructure landscape.

JLand Group, the property development arm of Johor Corporation, has officially launched the Ibrahim Technopolis (IBTEC), a large-scale technology and innovation hub spanning 7,290 acres in Sedenak, Kulai — about 50km north of Johor Bahru and 70km from Singapore. Positioned as Asia’s largest innovation sandbox, IBTEC is designed to attract global technology players, with its flagship component — the Sedenak Tech Park (STEP) — set to anchor the development. STEP is expected to draw major investments in advanced electrical and electronics (E&E), life sciences, medical technology, and data-driven industries. The entire development carries a projected gross development value (GDV) of RM27 billion over a 22-year period. To date, STEP alone has already secured RM34.5 billion in committed investments, largely from data centre operators seeking to tap into Johor’s growing digital infrastructure and strategic proximity to Singapore. JLand Group managing director Datuk Akmal Ahmad said IBTEC was conceived to elevate Johor’s industrial capabilities by transitioning from low value-added sectors to high-tech, innovation-led manufacturing and services. “IBTEC’s true measure of success goes beyond investment numbers,” he said. “We want to see Malaysians — especially Johoreans — move up the economic value chain as skilled workers, innovators, entrepreneurs and future industry leaders. That is the real impact we aim to create through this ecosystem.” IBTEC is planned around several core pillars that will shape its long-term growth: • Advanced manufacturing and logistics precincts seamlessly integrated into regional and global supply chains.• R&D and innovation clusters connected to universities, technical institutions and corporate research centres to accelerate commercialisation and talent development.• A digital connectivity backbone featuring data-centric infrastructure, smart utilities and systems designed to support artificial intelligence, Internet of Things applications, automation, and emerging technology solutions.• An adaptive policy environment that can evolve alongside regulation, enabling sandbox-based testing, pilot projects and next-generation industrial models. The development is expected to play a central role in positioning Johor as a leading regional hub for high-tech industries, while strengthening Malaysia’s attractiveness to global investors seeking scalable, innovation-friendly environments.