Titijaya expands East Malaysia footprint with RM105mil property deal in Kota Kinabalu
KUALA LUMPUR: Titijaya Land Bhd is ramping up its expansion into East Malaysia with the proposed acquisition of two prime property assets in Kota Kinabalu, Sabah, for a total of RM105 million.
The urban lifestyle developer said both assets are located adjacent to Universiti Malaysia Sabah (UMS) and the upcoming Hospital UMS, positioning them in a high-demand area with excellent connectivity.
The company expects to complete the acquisitions within the next nine months, according to a statement.
The larger of the two deals, valued at RM99 million, includes a parcel of land with completed foundation works and two 19-storey blocks of purpose-built student accommodation. The development features 513 apartment-style units, with the capacity to house up to 3,078 students.
Titijaya intends to operate the completed buildings and carry out remaining project works to meet rising demand for both student and residential housing in the vicinity.
The company has entered into a sale and purchase agreement with Yayasan Universiti Malaysia Sabah, Bay Precinct Sdn Bhd (a construction firm), and one of its directors, Lok Yee Hsun.
The second acquisition, priced at RM6 million, involves another parcel of land with an existing building structure originally meant for the Bangunan Koperasi UMS project. The original plan envisioned a 14-storey apartment block with 476 units, a one-storey retail section with 38 shop lots, and a three-storey car park podium.
However, the project was abandoned and never completed. Titijaya plans to revive and redevelop the site into new residential offerings.
Titijaya group managing director Datuk Lim Poh Yit highlighted that the group already has a footprint in Sabah through developments such as The Shore, a luxury mixed-use project, and the Citadines Waterfront Kota Kinabalu hotel, managed by Ascott.
He said that the location of the two assets, offering strong connectivity to both UMS and the upcoming Hospital UMS, makes the area a highly desirable locality in Kota Kinabalu.
"This move also aligns with our broader growth strategy to diversify our revenue streams and customer base and extend our footprint beyond the Klang Valley. We believe that these two assets will enable us to benefit from rising demand for housing accommodation in the surrounding area and boost contributions from recurring income to our revenue," he added.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Sun
8 hours ago
- The Sun
Govt committed to increase women-owned companies
KUALA LUMPUR: The percentage of women-owned companies in Malaysia are still low compared to other ASEAN countries, at about 20 per cent or 210,000 companies out of all enterprises in the country. Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz said the government through the Malaysia External Trade Development Corporation (MATRADE) would strive to increase the percentage through various new programmes and policies. 'In helping women access overseas markets more effectively, the government is committed to providing trade facilities such as MADANI Digital Trade, Malaysia International Halal Showcase (MIHAS) and also trade missions to various countries,' he said during the opening ceremony of the Women in Export (WiEX) Forum 2025 today. Tengku Zafrul said the initiative implemented was open to women entrepreneurs who wanted to explore international markets, including emerging markets such as West Asia, Africa and Eastern Europe, which have high demand for Malaysian products. 'MATRADE also constantly monitors the participation of female entrepreneurs in international exhibitions and overseas trade missions so that women can become competitive exporters on the international stage,' he said. Meanwhile, MATRADE chairman Datuk Seri Reezal Merican Naina Merican said the participation of Asian women in the economy, comprising only 30 to 35 per cent, shows that there are still untapped economic opportunities. 'Therefore, to assist women-owned companies in the export market, MATRADE has allocated 40 per cent of the RM14.89 million in export grants to 6,711 women-owned companies,' he said at the event. Regarding the organisation of WiEX, he said the forum was important as a meeting place to empower women in the export ecosystem and, by 2026, the forum would be known as the Women International Exporters Expo. 'The WiEX Forum has become the perfect platform to celebrate and recognise women entrepreneurs who want to make a name for themselves in the international arena. All the knowledge, inspiration and strategies shared today are valuable gifts that can guide their respective journeys,' he said. Therefore, Reezal Merican said MATRADE has launched an e-directory that serves as a bridge connecting products and services provided by women-owned companies. 'This platform will showcase to the world the great products and services produced by Malaysian women. It will facilitate business collaboration, build international networks and, most importantly, provide direct access to global markets. 'This initiative is in line with the National Women's Policy 2025-2030 and sustainable development goals, demonstrating the government's unwavering commitment to empowering women in the trade sector,' he added. Also present were Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi, chairman of the Umno Malaysia Women's and Family Affairs Council (HAWA) Tan Sri Shahrizat Abdul Jalil and MATRADE chief executive officer Datuk Mohd Mustafa Abdul Aziz.
The Sun
8 hours ago
- The Sun
Malaysia boosts women-owned firms in exports
KUALA LUMPUR: The percentage of women-owned companies in Malaysia are still low compared to other ASEAN countries, at about 20 per cent or 210,000 companies out of all enterprises in the country. Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz said the government through the Malaysia External Trade Development Corporation (MATRADE) would strive to increase the percentage through various new programmes and policies. 'In helping women access overseas markets more effectively, the government is committed to providing trade facilities such as MADANI Digital Trade, Malaysia International Halal Showcase (MIHAS) and also trade missions to various countries,' he said during the opening ceremony of the Women in Export (WiEX) Forum 2025 today. Tengku Zafrul said the initiative implemented was open to women entrepreneurs who wanted to explore international markets, including emerging markets such as West Asia, Africa and Eastern Europe, which have high demand for Malaysian products. 'MATRADE also constantly monitors the participation of female entrepreneurs in international exhibitions and overseas trade missions so that women can become competitive exporters on the international stage,' he said. Meanwhile, MATRADE chairman Datuk Seri Reezal Merican Naina Merican said the participation of Asian women in the economy, comprising only 30 to 35 per cent, shows that there are still untapped economic opportunities. 'Therefore, to assist women-owned companies in the export market, MATRADE has allocated 40 per cent of the RM14.89 million in export grants to 6,711 women-owned companies,' he said at the event. Regarding the organisation of WiEX, he said the forum was important as a meeting place to empower women in the export ecosystem and, by 2026, the forum would be known as the Women International Exporters Expo. 'The WiEX Forum has become the perfect platform to celebrate and recognise women entrepreneurs who want to make a name for themselves in the international arena. All the knowledge, inspiration and strategies shared today are valuable gifts that can guide their respective journeys,' he said. Therefore, Reezal Merican said MATRADE has launched an e-directory that serves as a bridge connecting products and services provided by women-owned companies. 'This platform will showcase to the world the great products and services produced by Malaysian women. It will facilitate business collaboration, build international networks and, most importantly, provide direct access to global markets. 'This initiative is in line with the National Women's Policy 2025-2030 and sustainable development goals, demonstrating the government's unwavering commitment to empowering women in the trade sector,' he added. Also present were Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi, chairman of the Umno Malaysia Women's and Family Affairs Council (HAWA) Tan Sri Shahrizat Abdul Jalil and MATRADE chief executive officer Datuk Mohd Mustafa Abdul Aziz.
New Straits Times
20 hours ago
- New Straits Times
SAMENTA calls for higher SST threshold to shield SMEs
KUALA LUMPUR: The Small and Medium Enterprises Association Malaysia (SAMENTA) is calling on the government to urgently review the recently expanded Sales and Service Tax (SST) framework, warning that the current structure could significantly harm SME profitability and push up consumer prices. The association is proposing that the SST threshold be raised from RM500,000 to RM2 million in annual turnover, ensuring that only medium and larger enterprises fall within the tax scope. It is also advocating for a complete exemption for micro and small businesses, which form the backbone of Malaysia's entrepreneurial landscape. SAMENTA national president, Datuk William Ng, acknowledged the government's need to boost fiscal revenue but expressed concern over the timing and implementation of the expanded SST. SMEs are already grappling with high input costs, softening consumer demand, and declining external orders, Ng said. The situation is further complicated by the looming expiration of the United States' reciprocal tariff pause on July 8, which could erode Malaysia's export competitiveness and expose SMEs to retaliatory trade measures. Against this backdrop, the expansion of SST without sufficient exemptions or a higher threshold for SMEs risks compounding the cost burden on businesses that are least equipped to absorb it, Ng added. "This impact is not limited to raw material costs but extends to rent and business-to-business services that will now fall under the SST's expanded scope. These increases will almost certainly be passed on to consumers, further driving up the cost of living," he said in a statement. SAMENTA is also calling on the Royal Malaysian Customs Department (RMCD) to immediately issue sector-specific guidelines to help SMEs understand their obligations under the expanded SST. Many businesses, Ng said, lack the resources to engage tax consultants and are at risk of accidental non-compliance, even with the grace period in place until the end of 2025. He also urged RMCD to clarify SST application timing, especially regarding whether SST should be imposed based on the invoice date or payment collection date during the transition period. Many SMEs have already issued invoices prior to July 1, creating ambiguity around tax liability under the new regime. "SAMENTA supports the development of a fair, progressive, and transparent tax framework that broadens the base while protecting the country's entrepreneurial assets. However, this must be done in a calibrated manner, with genuine stakeholder consultation and alignment with current economic realities," said Ng. "While we were given a briefing on the expanded SST, we cannot consider it a consultation when it is presented as a 'fait accompli'." Ng said that in light of heightened global uncertainties and domestic economic fragility – factors that were not as pronounced when Budget 2025 was tabled – we believe that a higher exemption threshold for SMEs is economically prudent. Effective July 1, the revised SST framework will see a sales tax of 5 per cent or 10 per cent applied to selected non-essential goods, while the service tax of 6 per cent or 8 per cent will be extended to encompass a wider range of services. These include rental or leasing, construction, financial services, private healthcare, private education, and beauty services. The government expects the SST expansion to yield RM5 billion in additional revenue in the short term (equivalent to 0.24 per cent of GDP), with a long-term annual target of RM10 billion (0.48 per cent of GDP). The expanded scope is part of the government's broader initiative to strengthen the fiscal position by increasing and diversifying revenue sources. A portion of the additional revenue generated will be used to enhance public services and create greater fiscal flexibility. The revised framework also focuses on services typically consumed by higher-income individuals or non-residents, such as certain banking services, private healthcare for foreigners, and private education with annual fees above RM60,000. Given the targeted nature of the SST, which primarily affects non-essential goods and services consumed by higher-income groups, the impact on inflation is expected to be minimal.
