Bursa Malaysia closed on Friday for Awal Muharram holiday
KUALA LUMPUR: Bursa Malaysia and its subsidiaries will be closed on June 27, 2025 (Friday), in conjunction with the Awal Muharram public holiday to mark the beginning of the Islamic New Year.
The stock exchange said operations will resume on June 30, 2025 (Monday).
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New Straits Times
5 hours ago
- New Straits Times
Malaysia holds strong as regional data centre investment hotspot
KUALA LUMPUR: Malaysia remains an attractive destination for data centre-related investments in the region, despite geopolitical risks and rising demands on energy and infrastructure capacity. JLL Malaysia Director of Data Centre Transactions Kent Seet Tiong Hong said this puts the country in a favourable position compared to many of its global peers, which are facing similar pressures amid tightening regulations and rising costs. He noted that Malaysia remains a very suitable location for building data centres, supported by several factors. According to him, factors such as being free from natural disasters, having a sufficient supply, and having lower energy and water costs compared to other countries are key attractions for data centre development. Furthermore, he said, in terms of the political situation, Malaysia has a stable government, and government agencies are also actively promoting data centres. "Another advantage is our workforce. Our workforce is proficient in English compared to other countries," he said at the sidelines of the Bursa Malaysia–HLIB Stratum Focus Series, themed "Data Centre 2.0: The Ecosystem and What's Next for Malaysia?" held recently. In his presentation, Seet highlighted that Malaysia's data centre capacity is projected to expand significantly, growing more than threefold based on current projections. He said that as of the first quarter of 2025 (1Q25), the country has completed an estimated 522 megawatts (MW) of capacity, with 1,250 MW under construction and over 3,750 MW in the pipeline. He also pointed out that Malaysia's completed capacity of 522 MW places it ahead of key Southeast Asian peers such as Indonesia (270 MW) and Thailand (140 MW), although it remains behind Singapore, which has 1,000 MW. He noted that in Greater Kuala Lumpur, key data centre locations include Cyberjaya, Bukit Jalil, Kuala Lumpur City Centre, Petaling Jaya, Sungai Buloh and Puncak Alam. He said among them, Cyberjaya has the largest footprint, with 90 MW completed, 320 MW under construction, and 950 MW in the pipeline. However, Seet said land acquisition is beginning to slow down, largely due to the rising cost of land in prime locations. He added that constrained utilities and the lack of ready land in established data centre locations, driven by overwhelming demand, have led to the flow of data centre investments into new industrial areas such as Sungai Buloh, Puncak Alam, Kulai, Ulu Tiram and Iskandar Puteri. Commenting on the impact of the revised electricity tariff set to take effect from July 1, 2025, to Dec 31, 2027, Seet believes it will not dampen investment interest in data centres in the country. In fact, he said the adjustment could help curb speculative activity by ensuring that only serious and committed players remain in the market. However, he acknowledged that operational costs will rise, as electricity tariffs make up a significant portion of data centre expenses. "To what extent it will impact them (data centres), I think it is still manageable. "I believe it will not reduce investments coming into Malaysia. If anything, it will curb speculators, which is a positive development. "Hence, only quality players will continue to grow," he said.
The Sun
11 hours ago
- The Sun
Yong Tai acquires Sabah-based Sumberjaya Builders for RM15m, targets quick turnaround on development projects
KUALA LUMPUR: Bursa Malaysia main market-listed Yong Tai Bhd has entered into a conditional share sale agreement to acquire the entire equity stake in Sabah-based Sumberjaya Builders Sdn Bhd for RM15 million. This strategic acquisition marks Yong Tai's entry into Sabah's property market with a steady growth outlook, further diversifying the group's earnings stream and enhancing future profitability. Through this acquisition, Yong Tai will undertake two promising joint-venture projects that Sumberjaya has already secured in Sabah. The two projects are the Lahad Datu project, spanning approximately 11.97 acres. This project features a mixed development of shop lots, terrace houses, and walk-up flats. The Lahad Datu project is estimated to carry a gross development value (GDV) of RM70.12 million and is expected to generate a development profit of RM10.80 million. Construction is anticipated to commence in Q3 of 2025 and be completed by Q3 of 2028. Secondly, Yong Tai will also undertake the Tawau Project, which is situated on approximately 15.25 acres. This development includes both commercial and residential units, offering an estimated GDV of RM106.58 million and projected to deliver a development profit of RM29.78 million. The Tawau project is scheduled to commence in Q4 2025, with completion targeted for Q4 2030. Yong Tai CEO and executive director Datuk Wira Boo Kuang Loon stated that this acquisition significantly eases the company's cash flow pressure, particularly in comparison to the substantial upfront investments previously committed to projects such as Encore Melaka and Courtyard by Marriott Melaka. 'Unlike high-rise developments that require extensive capital and extended timelines, these new projects in Sabah allow Yong Tai to realise profits swiftly and sustainably, strengthening our financial position and enhancing returns to our stakeholders,' he said in a statement. Yong Tai's strategic acquisition reflects careful consideration of market potential, profitability, and minimal upfront capital requirements. Importantly, the landowners for both projects will receive their entitlements via completed property units, significantly easing the group's immediate cash flow burdens. This acquisition complements Yong Tai's ongoing development portfolio, which includes the Impression U-Thant in Kuala Lumpur, nearing completion in Q3 2025, and The Dawn @ Impression City Melaka, undertaken through a joint venture arrangement and scheduled for completion by Q4 2027. The expansion into Sabah not only broadens the group's geographic footprint but also ensures a balanced project pipeline for sustainable long-term growth. The RM15 million purchase price will be paid in three equal parts, which will help maintain steady finances and support a good cash flow. Payments will only be made after due diligence checks have been completed and all required conditions have been met.
The Star
19 hours ago
- The Star
TXCD accepts columbarium agreement in KL
PETALING JAYA: TXCD Bhd has accepted a letter of award from City Centre Columbarium Bhd for a columbarium development project at Jalan Sungai Besi, Kuala Lumpur, worth RM34.6mil. In a filing with Bursa Malaysia, the construction engineering firm said the job will entail preliminaries, basement works (architectural only), main building works, external works, as well as prime cost and provisional sums. 'The contract duration is 17 months (including mobilisation period) from June 26, 2025 to Nov 26, 2026.' TXCD said the contract is expected to contribute positively to the group's future earnings, earnings per share and consolidated net assets of the group. 'The letter of award will not have any effect on the issued share capital and the shareholding of the substantial shareholders of the company.
