Inovatif

Category: Property

  • Asia Vision Capital’s new Shariah fund connects investors to Johor’s investment opportunity

    Asia Vision Capital’s new Shariah fund connects investors to Johor’s investment opportunity

    Asia Vision Capital Sdn. Bhd. (AVC), a licensed Venture Capital Company registered and regulated by the Securities Commission Malaysia (SC), has launched QJBCCI PLT, a Shariah-compliant Real Estate Fund offering accredited investors structured access to Quayside JBCC. It is an iconic mixed-use development located within the Johor-Singapore Special Economic Zone (JS-SEZ), one of Southeast Asia’s most dynamic cross-border corridors.

    QJBCCI PLT complements AVC’s conventional real estate fund, QJBCCA PLT, which was launched in January 2025. Both funds operate under a regulated framework where the funds are lodged with SC, with TMF Group as the trustee and Tawafuq Consultancy serving as the Shariah adviser for the Islamic tranche.
    These funds provide accredited investors with the opportunity to participate in the development of Quayside JBCC through Redeemable Convertible Preference Shares, standing benefits from quarterly dividend distributions and redemption options after a five-year lock-in period. Backed by institutional-grade governance and oversight, the fund is designed for investors seeking exposure to real estate income streams across hospitality, serviced residences, parking, retail, rooftop restaurants and the development’s prominent LED advertising display.

    “JS-SEZ and Rapid Transit System represent one of the region’s most exciting growth opportunities, powered by cross-border connectivity and rising demand for integrated urban destinations. Through our funds, we are pleased to offer accredited investors a structured and professionally managed pathway to participate in this option. This initiative reflects our commitment to unlocking long-term value through disciplined investment, Shariah governance and institutional-grade oversight,” said Ian Khor, Chief Investment Officer of Asia Vision Capital Sdn. Bhd.

    AVC targets to raise up to RM 300 million as the initial commitment goal for this development project. To enhance investor experience, AVC plans to launch a dedicated mobile platform by late 2025, offering fund performance updates of its portfolios through web and mobile-optimised dashboards.

    As part of its long-term strategy, AVC is also exploring the potential conversion of this mixed-used hospitality development into a publicly listed Real Estate Investment Trust (REIT) by 2032, broadening liquidity options and expanding investor access through public markets.

  • PMCK Berhad gains Bursa approval for ACE Market IPO listing

    PMCK Berhad gains Bursa approval for ACE Market IPO listing

    PMCK Berhad (PMCK), a healthcare services provider in Northern Malaysia, has gained the approval of Bursa Malaysia Securities Berhad (Bursa Securities) to list on the ACE Market of Bursa Securities.

    This milestone underscores PMCK’s strategic focus on expanding its footprint through the development of PMC Kulim, a state-of-the-art private medical centre and mixed-use facility in Kedah, poised to address critical gaps in regional healthcare access.

    The IPO comprises 272.6 million new shares (25% of enlarged issued share capital), with proceeds allocated for:

    1. Repayment of bank borrowings for PMC Kulim’s construction
    2. Acquisition of equipment for PMC
    3. Estimated expenses related to the listing exercises

    “PMC Kulim is not just a hospital. We are a holistic ecosystem designed to elevate healthcare accessibility in the region,” said PMCK Berhad Managing Director, Dato’ Lee Gaik Cheng. “This listing enables us to accelerate our vision while maintaining financial discipline through strategic partnerships and streamlined operations.”

    PMCK reported robust FYE 2024 performance, with revenue rising to RM104.34 million (FYE 2023: RM99.85 million) and net profit climbing almost 40% to RM15.02 million, reflecting strong demand for its specialist consultant services and healthcare support services. The company’s existing PMC in Alor Setar has treated over between 115,000 patients and 128,000 patients over the past three FYEs 2022 to 2024, supported by 40 specialist consultants across 17 specialisations.

    Post-listing, PMCK will consolidate its other businesses in Kulim (Poliklinik Unik and Klinik Pergigian Unik) under PMC Kulim to enhance operational efficiency. The project’s mixed-use component is also expected to diversify revenue streams, contributing to long-term sustainability.

    “Our goal is to bridge the healthcare divide in the Northern region of Malaysia,” added Dato’ Lee. “The approval for our listing marks a significant milestone for PMCK Berhad and we are now poised to deliver world-class care closer to home.”

    Malacca Securities is the IPO’s principal adviser, sponsor, underwriter, and placement agent.

    The listing will propel PMCK’s RM193 million PMC Kulim project, a 12-storey medical centre integrated with a seven-storey mixed-use development (hotel, food court, and amenities). Slated for completion in Q1 2028, the facility will feature:

    • 90 in-patient beds (single and double rooms only), one endoscopic suite, one operating theatre, two labour rooms, two nursery units, and 15 specialist consultation clinics.
    • Strategic amenities for patients’ families and the public, managed by a third-party operator to ensure operational focus on healthcare.

    The project targets underserved populations in Kulim, Bandar Baharu, and neighbouring districts, where private healthcare infrastructure remains sparse.

    With only 7.72 private hospital beds per 10,000 persons in Northern Malaysia (versus 17.71 in Kuala Lumpur), PMC Kulim aims to alleviate the pressure on existing facilities while tapping into demand from Kulim Hi-Tech Park’s industrial workforce and growing middle-class communities.

  • WCT Holdings Berhad shareholders approve listing of Paradigm REIT

    WCT Holdings Berhad shareholders approve listing of Paradigm REIT

    WCT Holdings Berhad (“WCT” or “the Group”), an investment holding company with businesses in engineering and construction, property development and investment in and management of retail malls and hotels, announces that its shareholders have approved the proposed listing of Paradigm Real Estate Investment Trust (“Paradigm REIT”) on the Main Market of Bursa Malaysia Securities Berhad (Bursa Securities Main Market). The approval of the shareholders was obtained during the Extraordinary General Meeting (“EGM”).

    The proposed listing of Paradigm REIT will mark a significant milestone in WCT’s strategic growth plans, enabling the Group to unlock the value of its retail assets while optimising its capital structure. As part of the proposed listing of Paradigm REIT, the shareholders also approved the proposed disposal of three prime retail properties – Bukit Tinggi Shopping Centre (BTSC), Paradigm Mall Petaling Jaya (PMPJ), and Paradigm Mall Johor Bahru (PMJB) – to Paradigm REIT for RM2,437,000,000 (“Disposal Consideration”). The Disposal Consideration will be settled through the issuance of 1,600,000,000 units in Paradigm REIT (“Consideration Units”) at an issue price of RM1.00 per Consideration Unit and a cash consideration of RM837,000,000.

    In the approvals sought during the EGM, the shareholders also endorsed the proposed offering of 560,000,000 units in Paradigm REIT (“Offer Units”) by WCT (“Proposed Offering”).

    This includes a proposed retail offering of up to 254,657,500 Offer Units for the entitled shareholders of WCT, eligible directors and employees of the Group and Paradigm REIT Management Sdn Bhd, being the management company of Paradigm REIT, and the Malaysian public. From the proposed retail offering, 194,862,500 Offer Units will be made available to entitled shareholders of WCT on the basis of 1 Offer Unit for every 8 existing ordinary shares of WCT held by the shareholders whose names appear on the record of depositors of WCT as at the close of business on an entitlement date to be determined and announced later by WCT.

    The Proposed Offering also includes a proposed institutional offering at least 305,342,500 Offer Units, of which 200,000,000 Offer Units are reserved for Bumiputera investors approved by the Ministry of Investment, Trade and Industry (MITI) of Malaysia and at least 105,342,500 Offer Units to other institutional investors and selected investors.

    The proposed listing of Paradigm REIT is expected to strengthen WCT’s balance sheet by reducing borrowings while offering investors the opportunity to participate in a diversified portfolio of income-generating retail assets, delivering stable cash distributions and long-term capital appreciation.

    Dato’ Lee Tuck Fook, Group Managing Director, WCT Holdings Berhad, said, “We are grateful for the strong support from our shareholders in approving the proposed listing of Paradigm REIT. This strategic initiative not only unlocks the value of our retail assets but also provide WCT with greater financial flexibility to pursue new growth opportunities. We are confident that Paradigm REIT will be a valuable addition to the Bursa Securities Main Market and deliver sustainable returns to our investors.”

    The retail properties under Paradigm REIT are strategically located in populous urban areas in Malaysia. The proposed listing of Paradigm REIT reinforces WCT’s commitment to creating long-term value for stakeholders while solidifying its presence in Malaysia’s real estate investment sector.

  • NCT Alliance expands presence in Sabah

    NCT Alliance expands presence in Sabah

    NCT Alliance Berhad (“NCT”) announces its wholly-owned subsidiary, NCT Panorama Sdn Bhd, has entered into a conditional sale of shares agreement (“SSA”) with Ir Herman Lee Show Kien and Mr Melvin Lee Ying to acquire a 51% stake in Setara Juara Sdn Bhd (“SJSB”) for a total purchase consideration of RM22.0 million. The purchase consideration will be satisfied via a combination of cash and contra properties.

    In line with the acquisition, NCT Panorama, Ir Herman and Mr Melvin have also entered into a Shareholders’ Agreement (“SHA”) to regulate the relationship of the Parties in respect of SJSB.

    Pivotal to the company’s long-term growth strategy, the acquisition will pave the way for NCT’s development of Ion Marina Bay, a property development project with an estimated gross development value (“GDV”) of RM3.4 billion. The landmark waterfront project located in Putatan, Sabah, is expected to further strengthen the company’s presence in one of Malaysia’s most promising real estate markets.

    Dato’ Sri Yap Ngan Choy, NCT Alliance’s Executive Chairman and Group Managing Director, stated: “The agreement marks another key milestone in NCT’s expansion into Sabah, reinforcing our vision of building sustainable communities in high-growth regions. Ion Marina Bay will be a catalyst for transformation, creating a dynamic, integrated township that aligns with Sabah’s rapid urban development. As we grow, our focus remains on delivering developments that offer lasting value to homeowners, businesses and investors alike.”

    Ion Marina Bay will be a mixed development, comprising residential, commercial and lifestyle components. Spanning approximately 250 acres, the development is strategically located two kilometres from Putatan Town Centre and 5 kilometres from Kota Kinabalu International Airport (KKIA), offering a modern and sustainable living experience tailored to Sabah’s evolving market needs.

    With the Government recently having approved a RM442.3 million upgrade for KKIA to expand its capacity and enhance connectivity, the major infrastructure boost is expected to further drive real estate growth and attract more investors to the state.

    NCT’s expansion into Sabah has been carefully planned to tap into the region’s growing real estate market, which has seen heightened interest due to Sabah’s economic growth and infrastructure investments.

    SJSB existing directors and shareholders, Ir Herman Lee and Mr Melvin Lee are expected to continue playing key roles in the property’s development.

    Ir Herman Lee added, “With NCT Alliance now on board as the major shareholder, we are excited to work in partnership to realise the vision for Ion Marina Bay. SJSB has been deeply involved in shaping this development, and with NCT’s expertise and resources, we are confident that this project will create a thriving, well-planned community that enhances Kota Kinabalu’s property landscape and bring lasting value to the state.”

    Also present at the signing, Encik Ag. Ismail Abu Bakar, Director of Sharikat Pembangunan Azam Dan Galian Sdn. Bhd., the landowner of the project, stated “We are thrilled to be part of this landmark development, which will not only drive Sabah’s economic growth but also redefine its landscape. The vision behind this project will bring to life a dynamic and thriving community, creating lasting opportunities and setting standards for progress in the region.”

    The acquisition of SJSB is expected to be completed by the third quarter of 2025. With a nine-year development timeline, Ion Marina Bay is poised to become one of Sabah’s most dynamic and sought-after urban developments.

  • Iskandar Investment Berhad launches EduCity Sports Complex 2.0

    Iskandar Investment Berhad launches EduCity Sports Complex 2.0

    Iskandar Investment Berhad (IIB) officially launches the EduCity Sports Complex (ESC) 2.0, marking a new chapter in sports and entertainment in Johor. The revamped complex is set to become a premier destination for athletes, event organisers, and the local community, offering world-class sports and entertainment facilities.

    The operations of ESC will now be managed by 36Five X, a renowned experiential marketing and event management agency specialising in venue commercialisation. The partnership with 36Five X is aimed at maximising ESC’s usage and commercial potential, ensuring that it thrives as a vibrant hub for sports excellence and community engagement. With over 35 years of combined experience in marketing, event organisation, and venue management, 36Five X brings strategic expertise to ESC. Their mission is to enhance the facility’s offerings while ensuring its financial sustainability and contribution to Johor’s economic and tourism sectors.

    Haris Hardi Zakaria, Chief Investment Officer of IIB stated, “This collaboration is a strategic initiative by IIB to leverage expert knowledge in transforming ESC into a vibrant sports and entertainment hub, boosting community engagement and economic growth. With 36Five X’s established expertise and IIB’s focus on community-oriented development, ESC is poised to enhance the sports and entertainment scene while significantly supporting Johor’s tourism and local economy. We are thrilled to welcome 36Five X’s leadership in taking ESC to new heights. Their expertise will undoubtedly enrich the sports and entertainment landscape in our region.”

    With a renewed vision and strategic direction, ESC 2.0 aims to attract over 100,000 visitors this year alone, driven by a robust calendar of events. The anticipated increase in visitors is expected to generate approximately RM1 billion in economic impact for Johor’s tourism sector, alongside creating significant job opportunities and supporting local businesses.

    Mizal Ghazali, Co-Founder and Director of 36Five X, added, “It’s an honour to spearhead the next chapter of ESC. We are committed to not only enhancing the facility’s offerings but also ensuring it plays a pivotal role in community and regional development.”

    Among the key initiatives introduced at ESC 2.0 is the International Pickleball League (IPBL), which will take place from 12th April to 4th May 2025, positioning ESC as a premier venue for competitive pickleball in the region. Additionally, the D’Straits Duathlon, scheduled for September 2025, aims to attract endurance athletes from across the region, reinforcing Iskandar Puteri as a destination for sports tourism.

    ESC also launched the ESC Arena+ Programme, designed to nurture young talent and promote physical activity among children under 12. The programme offers structured classes in Badminton, Football, Kids Athletics, Pickleball, and Netball, conducted by certified coaches. In collaboration with the Johor Badminton Association, ESC will provide at least eight badminton classes monthly at the Indoor Arena, ensuring accessibility to sports for all families.

    Haris Hardi Zakaria further emphasised, “The launch of ESC 2.0 is a testament to IIB’s commitment to developing a sustainable and inclusive metropolis. Our collaboration with 36Five X reflects our vision to create a world-class sports and entertainment hub that enhances the quality of life in Johor while driving economic progress.”

    As ESC embarks on this new era, it invites the community, businesses, and stakeholders to explore the extensive opportunities available at the complex. For more details on upcoming events and initiatives, visit www.educitysportscomplex.my.

  • Crockfords wins Forbes Travel Guide 5 Star Award for the seventh consecutive time

    Crockfords wins Forbes Travel Guide 5 Star Award for the seventh consecutive time

    Crockfords at Resorts World Genting (RWG) has once again secured a 5-star rating in the 67th Forbes Travel Guide (FTG), making it an impressive seventh consecutive year for the hotel.

    Crockfords stamps its mark as the only hotel in Malaysia to be awarded FTG’s prestigious 5 Star accolade in 2025, being amongst the 539 celebrated luxury properties worldwide to have been accorded this status.

    RWG properties, Genting Grand and Highlands Hotel also stood out among the list of other honourees and award recipients, emerging as Forbes 4 Star Property and Forbes Recommended Property, respectively, making it the eighth year these hotels have upheld their respective recognitions.

    FTG is globally considered as the foremost benchmark of the world’s finest luxury hotels, restaurants, spas and ocean cruises. Its award ratings serve as an authoritative guidepost for guests seeking exceptional travel experiences. The travel guide utilises a proprietary algorithm to weigh excellence in service and quality of the property. Evaluated anonymously by FTG’s expert inspectors, a hotel must receive a high score of at least 90% in all respects from service to the minutest of details to deserve a 5-Star rating.

    “We are honoured to receive a 5-Star rating from the acclaimed Forbes Travel Guide. At Resorts World Genting, we are dedicated to continuously push the envelope for greater gold standard achievements in world class hospitality,” said Spencer Lee, Executive Vice President of Sales, Marketing & Public Relations.

    “This latest distinction from Forbes Travel Guide is a validation of our relentless passion for delivering exceptional stays. Crockfords as a Forbes Travel Guide 5-Star property is a destination unto itself. As an iconic symbol of luxury and thoughtful service from the heart, we take pride in ensuring that every visit is extraordinary and memorable,” said David Leung Ming Sum, Vice President of Hotel Operations.

    Resorts World Genting was recently the proud recipient of the Best ASEAN New Tourism Attraction award at the 34th ASEANTA Excellence Awards in Johor Bahru. The premier resort above the clouds is poised to play host to and receive visitors from all over ASEAN as Malaysia embraces its role as the Chair of ASEAN in 2025.

  • Chin Hin Group Property introduces Avalton By The Water

    Chin Hin Group Property introduces Avalton By The Water

    Chin Hin Group Property (CHGP) unveils Avalton By The Water during a special preview event at its new sales gallery, located in Jalan Bandar Hilir, Melaka. This marks CHGP’s first development preview of the year.

    Avalton By The Water is a resort-themed, luxurious development spanning 6.619 acres of leasehold land, facing Malacca Island. The project features 539 units across seven residential blocks—six low-rise and one mid-rise—and offers two layout types, each with three-bedroom options. Unit sizes range from 760 to 850 sq ft, with prices starting at RM508,000.

    With its contemporary design, Avalton By The Water offers an urban sanctuary surrounded by Melaka’s rich historical sites and coastal heritage. The development draws inspiration from the elegance and strength of flowing water, reflecting the beauty and energy of its waterfront setting.

    Ideally located at Jalan Melaka Raya 35, the development provides convenient access to major roads and is just 4 kilometres from Melaka Sentral Bus Terminal and 6.3 kilometres from Malacca International Airport. The North-South Highway is approximately 16 kilometres away, making Avalton By The Water a prime choice for future commutes. Popular tourist attractions, such as A Famosa, Jonker Street, Melaka River Cruise, and Little India, are also within close proximity.

    Avalton By The Water ensures exceptional convenience with easy access to healthcare facilities, educational institutions, and leisure spots. It is located near Mahkota Medical Centre, Melaka Hospital, and top schools such as JT International School, SMK Tinggi Melaka, and MMU University Malaysia. For shopping and entertainment, Aeon Mall Bandaraya Melaka, Mahkota Parade, Plaza Hang Tuah, and The Shore Shopping Gallery are all within arm’s length.

  • E&O Berhad Unveils Maris

    E&O Berhad Unveils Maris

    Eastern & Oriental Berhad (E&O) revealed its latest waterfront residence, Maris. Located within the vibrant Gurney Green district on Andaman Island, Maris offers residents a unique blend of urban convenience and tranquil seafront elegance.

    With a Gross Development Value (GDV) close to RM 700 million, Maris is freehold and offers 516 furnished serviced residences within a 49-storey tower. Homes are designed to cater to diverse lifestyles, featuring sizes ranging from 979 square feet for the two-bedroom units while three-bedroom units range from 1,177 square feet to 1,356 square feet. Prices of homes are expected to start from RM 950,000.

    The development also features eight waterfront shophouses, seamlessly integrating retail and residential components, allowing residents to enjoy a host of conveniences and social gatherings.

    Kok Tuck Cheong, Managing Director at E&O Berhad, said, “Maris celebrates modern waterfront living, blending luxury, functionality, and sustainability. Its marina-edge concept offers a vibrant yet serene environment, where everyday essentials are just steps away. It’s more than just a home, Maris is an experience, crafted with meticulous attention to detail to enhance the quality of life for our residents.”

    Among the standout features of The Maris are its curated facilities and amenities which include an infinity pool, forest park, pet park, gymnasium, and social spaces to foster community interaction.

    Residents will also be able to enjoy picturesque and relaxing sea views from the sky terrace, which offers swinging daybeds and outdoor dining spaces, set against the iconic Gurney Drive and Georgetown skyline.

    The launch of Maris also introduces a vibrant waterfront promenade. Lined with cafes, restaurants, and boutique retail outlets, it offers both residents and visitors a variety of lifestyle and
    leisure experiences.

    Kok said, “As the first project to activate this promenade, Maris transforms the area into an open, welcoming space that fosters social interaction and communal living. Designed with walkability in mind, the promenade ensures easy access to amenities while encouraging an active, outdoor lifestyle. It creates an inviting environment for people to gather, connect, and enjoy shared experiences.”

    Continuing E&O Berhad’s commitment to sustainability, Maris also meets Platinum GreenRE standards, which incorporates environmentally conscious and quality materials alongside best practices to ensure energy efficiency and minimal impact on the surrounding ecosystem. This will enhance both the living experience and the sustainability of the development.

    Show units for Maris are now open for viewing on Andaman and in conjunction with the coming Chinese New Year celebrations, E&O will be hosting exciting activities on February 1 between 11am to 6pm. Visitors will be able to look forward to Lion Dances, workshops, a Chinese Orchestra performance and a wide selection of food and beverages.

     

  • SUNWAY REIT COMPLETES THE ACQUISITION OF SUNWAY KLUANG MALL IN JOHOR

    Sunway REIT Management Sdn. Bhd., the Manager of Sunway Real Estate Investment Trust (“Sunway REIT”), is pleased to announce that Sunway REIT has, on 30 December 2024, successfully completed the acquisition of Sunway Kluang Mall (formerly known as Kluang Mall).

    Sunway Kluang Mall is located in the heart of Johor, making it a strategic town connecting to major towns such as Johor Bahru, Muar, and Batu Pahat. It provides excellent connectivity to other parts of Peninsular Malaysia through major highways and railways. With a population of more than 320,000 and a potential of approximately 1 million additional population in central Johor, the Kluang district serves as a preferred retail and lifestyle destination in the region.

    Sunway Kluang Mall is presently 99% occupied, with over 130 tenants. The retail mall offers a diverse array of retail offerings, including international and homegrown brands, food and beverage (F&B) outlets, as well as entertainment and lifestyle services. Anchored by Pacific Hypermarket & Department Store, the mall’s extensive offerings such as health and beauty services, cinema and bowling centre enhance the overall retail experience.

    Sunway Kluang Mall is expected to be yield-accretive to Sunway REIT’s portfolio with an estimated initial Net Property Income (“NPI”) yield of 7%.

    Clement Chen, the Chief Executive Officer of Sunway REIT Management Sdn. Bhd., commented, “We are pleased to end the year with the completion of another acquisition. This fortifies Sunway REIT’s portfolio as one of the leading REIT in Malaysia. We strategically expanded our presence in Johor, which is a high-growth state and magnet for investment.”

    He added, “Building on Sunway’s strong brand and proven track record in retail management, we see opportunities to further enhance the mall through tenancy optimisation, proactive management, and asset enhancement initiatives (AEI) that greatly increases the property’s growth potential.”

  • WCT Bahrain signs MoU to advance brine recovery solutions in Bahrain

    WCT Bahrain signs MoU to advance brine recovery solutions in Bahrain

    WCT Bahrain WLL (“WCT Bahrain”), a subsidiary of WCT Berhad, Tahliya Water Treatment WLL (“TWT”), and the Saudi Water Authority (“SWA”) has entered into a Memorandum of Understanding (“MoU”) to promote collaboration in implementing brine recovery solutions for desalination plants in Bahrain.

    The initiative seeks to reduce the environmental impact of desalination processes while producing valuable by-products such as Sodium Chloride and other minerals. The project aligns with Bahrain’s goals of enhancing food security and reducing reliance on imports, contributing to sustainable regional development to combat sea level rise and climate change.

    The MoU was signed in conjunction with the 3rd Innovation-Driven Water Sustainability Conference, hosted by SWA in Jeddah under the patronage of Saudi Arabia’s Minister of Environment, Water, and Agriculture.

    Under the MoU, WCT Bahrain will serve as the design-and-build contractor, overseeing the engineering, procurement, and construction (EPC) aspects of the project while TWT will act as the plant owner, responsible for project CAPEX and operation management. SWA is responsible in providing strategic and technical advisory services, guiding the deployment of brine recovery technology.

    This collaboration aims to develop and implement advanced brine mining technology, improve desalination efficiency, conserve energy, and produce valuable minerals locally to reduce import dependency.  Bahrain’s existing desalination plants will benefit from these advancements, aligning with the nation’s sustainability priorities.