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New Straits Times
4 days ago
- Business
- New Straits Times
Park Hyatt makes landmark debut in Merdeka 118
KUALA LUMPUR: Hyatt Hotels Corporation has officially opened Park Hyatt Kuala Lumpur, marking the luxury brand's highly anticipated entry into Malaysia and its 50th property globally. Set within the upper floors of Merdeka 118 – the tallest skyscraper in Asia Pacific and the second tallest in the world – the hotel offers an elevated urban retreat. Positioned between levels 75 and 114, Park Hyatt Kuala Lumpur delivers unmatched panoramic views of the capital's skyline, redefining luxury hospitality in the heart of the city. Permodalan Nasional Berhad group chairman Raja Tan Sri Arshad Raja Tun Uda welcomed the brand as a key component of the landmark Merdeka 118 development. Raja Arshad said Park Hyatt Kuala Lumpur is more than a hotel – it is part of a legacy project that aims to unlock new potential, foster national pride, and serve as a catalyst for community upliftment. "Merdeka 118 will be a catalyst to uplift communities and enhance Kuala Lumpur's long-term vibrancy as part of Warisan KL, an initiative to celebrate heritage and revitalise the city. It plays an important role in supporting Kuala Lumpur's cultural regeneration and heritage tourism," he said in a statement. David Udell, group president, Asia Pacific, Hyatt, highlighted the opening as a significant milestone in the brand's global journey. "The Park Hyatt brand hits a milestone at 50 properties globally, adding its first hotel in Malaysia with the debut of Park Hyatt Kuala Lumpur – also marking an important breakthrough for the brand within Southeast Asia and worldwide. "This makes for an exciting chapter for Hyatt's brand growth in the region, with three new properties opening in Kuala Lumpur within a year, an expansion of diverse offerings," he said. Designed as a sanctuary in the sky, the hotel features 252 guest rooms, including 27 suites, each offering floor-to-ceiling windows with sweeping city views. The interiors combine understated elegance with locally inspired art, creating a refined, tranquil environment for both business and leisure travellers. Herman Kemp, the hotel's general manager, said, "We are proud to be part of the new Merdeka 118 precinct, with its rich, historical significance and its proximity to the vibrant Petaling Street Chinatown." From locally inspired art and design to purposeful wellness and elevated culinary concepts rooted in Malaysian culture, hotel guests will discover enriching experiences from this unique vantage point and through the Park Hyatt brand's distinctive take on understated luxury, he said.
The Star
11-07-2025
- Entertainment
- The Star
Warisan KL grants open for creatives to shape city's cultural future
Kuala Lumpur turned into an augmented reality playground last year as AR Fest brought street murals to life in popular spots like Kwai Chai Hong. Photo: The Star/Art Chen Community groups, art collectives, heritage activists, and creatives in Kuala Lumpur can now apply for funding to revive the city's historic heart. PNB Merdeka Ventures Sdn Bhd (a subsidiary of Permodalan Nasional Berhad) and Think City (a Khazanah Nasional Berhad subsidiary) have launched a new cycle of the Merdeka 118 Community and Kreatif KL Grants Programmes to support this effort. The grants are part of Warisan KL, an ongoing plan to revitalise old neighbourhoods and public spaces in the capital through art, culture and community initiatives. Both grant streams adopt a precinct-based approach, focusing on areas such as Petaling Street, Jalan Hang Tuah, Bukit Bintang, Kampung Attap, and Pudu – locations identified for their cultural significance and potential for catalytic transformation. 'As part of Warisan KL, Merdeka 118 plays an important role in supporting the city's cultural regeneration and heritage tourism,' said Raja Tan Sri Arshad Raja Tun Uda, group chairman of PNB, at the official launch. 'From the beginning, this initiative has been about renewal with the community at its heart. We have seen first-hand how these initiatives create real results,' he added. Past grantee projects show how this support has helped collectives and arts groups bring bold ideas to life. Last year, digital art outfit Filamen's Terang series transformed MaTiC on Jalan Ampang with outdoor projection mapping celebrating cultural futurism. AR Fest added another layer to the city with over 30 interactive augmented reality artworks, while Echoes of the Hornbill's Cry brought Sarawakian stories to the stage through contemporary dance at Panggung Bandaraya. Events like the KL Art Book Fair highlighted the city's vibrant self-publishing and artist-run scenes, while the Human Library of KL encouraged eye-opening conversations with people from all walks of life. Coming up later this month, the International Bachfest Malaysia 2025: Bridging Bach (July 23–27) will offer concerts, talks, and performances that connect classical music with fresh local ideas. Since 2021, PNB has committed nearly RM5mil to support 21 projects under the Merdeka 118 Community Grants Programme, including heritage trails, social enterprise pop-ups, and public realm improvements. Think City's Kreatif KL Grants Programme has supported 67 projects with over RM6mil in funding since 2020, ranging from grassroots cultural activations and placemaking to creative enterprise and public space revitalisation. 'We've partnered with the Merdeka 118 Community Grants Programme since its inception and witnessed how grassroots initiatives can reshape the urban landscape with the right support," said Datuk Hamdan Abdul Majeed, managing director of Think City. "These efforts are building momentum on the ground, reflecting a broader story of change where people reclaim public spaces, revive local identity, and bring the Warisan KL vision to life,' he added. Applications for both grant programmes are open now. The Merdeka 118 Community Grants Programme closes on Aug 10 and invites proposals under the themes of Cultural Heritage Preservation, Community Empowerment, and Content & Activation. The Kreatif KL Grants Programme closes on Aug 24, focusing on Cultural Identity & Heritage, Activation & Engagement, Economic Growth & Innovation, and Environmental Sustainability.
New Straits Times
19-05-2025
- Business
- New Straits Times
PNB issues integrated report, gives out record RM14.5bil in income and bonus distribution
KUALA LUMPUR: Permodalan Nasional Bhd (PNB) has delivered a record income and bonus distribution of RM14.5 billion to unitholders across its 18 fixed price (FP) and variable price (VP) funds in 2024. The record performance, the company said, was driven by a positive macroeconomic and capital market environment, along with its continued asset diversification strategy. As a result, its total group net income rose 30.2 per cent, from RM13.04 billion to RM16.97 billion, PNB said its Integrated Report for the year ended Dec 31, 2024 (IR2024) issued today. The report is aimed at providing greater reporting standards and assurance, as well as broadened ESG disclosures. This is in line with its commitment for transparency, sustainable value creation, and alignment with global best practices, the fund said. PNB said it continues to be the preferred asset management company of choice trusted by all Malaysians, with the number of unique account holders and total number of accounts expanded to a record high of 13.1 million and 16.2 million respectively. Consequently, total asset under management (AUM) recovered to RM348.3 billion, up from RM337.0 billion in 2023. Group chairman Raja Tan Sri Arshad Raja Tun Uda said PNB is pleased with the strong performance it achieved in 2024. "Amanah Saham Nasional Bhd (ASNB) distributed a record dividend, benefitting all Malaysians with our flagship fund, Amanah Saham Bumiputra (ASB), distributing a total income of 5.75 sen, the highest over the last five years. "All our 18 FP and VP outperformed their benchmarks, with 11 out of 12 of our VP funds, ranked in the top or second quartile among their respective peer groups. "This performance positively reflects the long-term resilience of PNB in delivering its purpose to uplift the financial lives of Malaysians across generation," he said in a statement today. Moving into 2025, PNB president and group chief executive Datuk Abdul Rahman Ahmad said given the recent geo-political development and fundamental shift in US trade policies, the fund recognised it has to be realistic that the macroeconomic and capital markets will be highly uncertain and volatile for the year ahead. He said to navigate these challenges, PNB will remain steadfast in executing the strategic initiatives across the six pillars that we have developed under the company's LEAP 6 Strategic Plan. "Our focus remains in sustaining the performance of our funds through continued asset diversification strategy as we fulfil our commitment of delivering consistent, competitive returns to our unitholders. "A more pressing challenge now is to get Malaysians to save more and invest with ASNB given shifting spending habits, coupled with pressure on net disposable income, have lowered the propensity of Malaysians to save voluntarily compared to five or 10 years ago. "However, we are optimistic that we can address this by strengthening our sales and distribution capabilities, supported by product innovation, financial literacy programmes, and an expanded distribution platform," he noted. According to PNB, the IR for 2024 provided a wider breath of information that reflects the progress of the company over the past year. This includes PNB's latest initiatives, including the LEAP 6 Strategic Plan that established the target to grow AUM to RM400 billion by 2027, the rebranding of ASNB to re-energise efforts to attract the younger generation, together with the launch of Robo Investment Advisor and 'Celik Madani', as part of ASNB's aggressive strategy to expand the savings of Malaysians. The report also highlighted the substantial progress PNB is making in advancing its sustainability agenda, especially in achieving net-zero emissions at both the enterprise and portfolio levels and advancing the minimum living wage agenda across corporate Malaysia.
