PM launches Warisan KL initiative to rejuvenate city via 10 flagship projects
KUALA LUMPUR: Prime Minister Datuk Seri Anwar Ibrahim has launched the Warisan KL initiative, aimed at rejuvenating the city's historical core as a creative and cultural district.
The initiative, better known as 'Warisan KL: Warisan Ibu Kota Malaysia Madani', is a public-private effort led by the Kuala Lumpur City Hall (DBKL) and ThinkCity, as a response to Kuala Lumpur's historical core gradually hollowing out.
Covering a 20 square kilometre area, Anwar said Warisan KL will also involve 10 flagship projects aimed at repositioning KL as a global creative centre that is uniquely Malaysian, inclusive and connected.
These catalytic projects involve the Dataran Merdeka Heritage Area, Carcosa Seri Negara, Merdeka 118, Masjid Jamek Enclave, Trade Quadrant, Memorial Tun Abdul Razak, Green Connector Network, KL Railway Station, Fashion and Textile, and Content and Programming.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
2 hours ago
- The Star
Stable yields to support performance of REITs
Maybank IB Research remained positive on REITs. PETALING JAYA: The outlook for Malaysian real estate investment trusts (REITs) is becoming more challenging even as yields remain stable amid rising unit prices, analysts say. This is also despite the KL REIT Index gaining 0.9% against Bursa Malaysia's benchmark FBM KLCI's 8.2% loss over the five months to May. Analysts said that the expanded Sales and Service Tax (SST), which will come into effect on July 1, would have an impact on REITs as it would require them to them to impose an 8% service tax (unless specific lessee exemption criteria are met), raising operating costs for tenants. Revisions to Malaysia's SST include targeted increases for non-essential goods and an expansion of the services tax to six new categories: leasing or rental services, construction, financial services, private healthcare, education, and beauty services. While the aim of revising the SST is to broaden the tax base with minimal impact on the majority of Malaysian consumers, specific business sectors, particularly REITs and financial services, are expected to bear a more direct and potentially adverse impact, analysts said. CGS International Research said while REITs with prime assets would remain resilient due to strong tenant profiles and footfall, weaker properties may face tenant attrition. 'In this regard, REITs with lower-quality portfolios may be compelled to provide rental support, which could weigh on earnings and distributions,' the research house said. Maybank Investment Bank Research (Maybank IB Research) remained positive on REITs, with its top pick being Sunway-REIT. The research house said retail and industrial REITs remained resilient, but office REITs face challenges despite long leases and stable occupancy. It added that domestic REITs offer attractive average dividend yields of between 5.6% and 6.1% or a healthy spread of between 208 and 258 basis points against the 3.5% for current 10-year Malaysian Government Securities (MGS). 'We see room for spread compression should Bank Negara initiate an overnight policy rate cut in the second half of this year that would benefit REITs with higher floating-rate debt exposure,' Maybank IB Research said, adding that this would support valuation upside and lower financing costs for growth-oriented REITs. It noted that the managements of various REITs maintained a cautiously optimistic outlook but flagged a few concerns such as the potential 8% service tax that could limit their ability to raise rents, as well as the potential increase in electricity tariffs and broader economic uncertainty such as subsidy rationalisation for RON95 petrol and international trade tensions. MIDF Research, which downgraded REITs to 'neutral' from 'positive', said most of the positives have been priced in. 'Going forward, we expect REITs to continue registering earnings growth. However, we expect moderate earnings growth going forward from a normalised base in 2024. 'Besides, the yields of REITs under our coverage tapered to 4.6% following the increase in unit prices of REITs recently,' the research house said. It expects its top pick, Pavilion-REIT, with an unchanged target price of RM1.69, to see its earnings supported by a rental revision for Pavilion KL Mall, while Pavilion Bukit Jalil's performance remains stable. MIDF Research said that the KL REIT Index was resilient in the first five months of the year following a gain of 11.4% last year in comparison to the KLCI, as investors flocked to defensive investments. However, the research house said the increase in unit prices have also narrowed the yield spread versus 10-year MGS, which makes them less attractive to investors.
Barnama
2 hours ago
- Barnama
Over 150,000 Visitors Expected At TVET Day, 5,000 Jobs On Offer
10/06/2025 05:24 PM PUTRAJAYA, June 10 (Bernama) -- The National Technical and Vocational Education and Training (TVET) Day 2025 celebration is expected to attract over 150,000 visitors, with more than 5,000 job opportunities offered through career matching with employers from various strategic sectors, said Datuk Seri Dr Ahmad Zahid Hamidi. In a statement issued today after chairing the Special Coordination Meeting for National TVET Day 2025, the Deputy Prime Minister said the celebration brings together broad participation from various government agencies, TVET institutions, industries and the general public, aiming for a direct impact on human capital development and employment opportunities. The three-day event will begin tomorrow at the Melaka International Trade Centre (MITC) in Ayer Keroh, and Prime Minister Datuk Seri Anwar Ibrahim is scheduled to officially launch it on Thursday. 'The official launch on June 12 is expected to include several strategic announcements related to the agenda of strengthening national TVET. Key focus areas will include efforts to encourage wider participation of TVET graduates in high-impact entrepreneurship sectors, in line with current economic needs. 'This step is hoped to further strengthen TVET's role as a driver of growth in high-potential sectors,' said Ahmad Zahid, who is also the Minister of Rural and Regional Development. With the theme "TVET: The Career of Choice", he said the celebration symbolises the MADANI government's commitment to making TVET a core pillar of national development and reinforces its dedication to mainstreaming the skills pathway as part of the country's progressive, inclusive and sustainable Malaysia MADANI aspirations. He said the event will be implemented comprehensively and with high impact, featuring various inclusive, interactive and strategic activities aimed at bringing the public closer to the world of TVET. According to him, the National TVET Day 2025 celebration will consist of four main segments, including the TVET Convention Hub, TVET Job Fair, and TVET Challenge. 'The celebration is expected to take place in a positive atmosphere, with growing public interest in the skills pathway,' he said.
Malaysia Sun
5 hours ago
- Malaysia Sun
Malaysia, Poland seek strengthened economic, trade ties
KUALA LUMPUR, June 10 (Xinhua) -- Malaysia is seeking strengthened economic and trade ties with Poland while reaffirming the importance of free and open trade, Malaysian Prime Minister Anwar Ibrahim and Polish President Andrzej Duda said here on Tuesday. They reaffirmed the importance of adhering to internationally accepted trade norms and multilateral engagement and cooperation, as this would be mutually beneficial, the leaders said in a joint statement during Duda's official visit to Malaysia from June 9 to 11. "The leaders reiterated their unwavering commitment to open and inclusive trade and a fair, rules-based international trading system. They strongly reaffirmed their support for the swift advancement of the Malaysia-EU Free Trade Agreement (MEUFTA) negotiations and stressed the importance of concluding the agreement at the earliest opportunity," they said. "Both sides agreed to promote balanced trade by reducing economic barriers, enhancing consultation mechanisms between relevant ministries, and fostering collaboration amongst business communities," they said, adding that friendly bilateral cooperation will facilitate cooperation in a number of new and emerging fields such as the digitalization of public services, green transition, particularly the hydrogen economy and renewable energy and the maritime economy. Anwar and Duda also agreed to cooperate on security matters, including enhancing the exchange of experiences and coordination in combating crime, including organized and international crime. Poland is Malaysia's important trading partner among EU member states. Malaysia's main exports to Poland include electrical and electronic products, rubber products and machinery, while main imports from Poland consist of machinery, equipment and spare parts, electrical and electronic products, and transport equipment.
