Latest news with #CASB
New Straits Times
3 days ago
- Business
- New Straits Times
Ipoh Sentral: City's new transport future
IPOH: Prime Minister Datuk Seri Anwar Ibrahim today officiated the groundbreaking of the Ipoh Sentral project, a landmark transit-oriented development (TOD) set to transform the city into a modern, sustainable hub with enhanced connectivity. With an estimated gross development value (GDV) of RM6.25 billion, Ipoh Sentral combines elements of transportation, urban planning and sustainability in a single innovative initiative that promises to reshape city living in Perak. Spanning some 27 hectares, the development will be rolled out in two phases over the next 20 years, beginning in 2025, under a partnership between Country Annexe Sdn Bhd (CASB) — a wholly-owned subsidiary of Malaysian Resources Corporation Bhd (MRCB) — and Ipoh Sentral Sdn Bhd (ISSB). A core feature of the project is its ambition to become a vibrant mixed-use transit hub, integrating residential, commercial and public spaces to create a sustainable urban environment while reducing traffic congestion through efficient transport planning. Transport Minister Anthony Loke said the project, located next to the Ipoh Railway Station, represented a key initiative by the Railway Assets Corporation (RAC) to optimise railway land for high-value developments that also bring positive impact to the local community. "It will be a modern transport hub linking multiple travel modes, supported by business, commercial and residential centres that will undoubtedly raise the quality of life for the people. "This development concept is aligned with the Malaysia Madani aspiration and the National Transport Master Plan, as well as the 13th Malaysia Plan (RMK13), which positions TOD as a key driver of urban growth," he said at the ceremony. Loke added that beyond serving as a transport gateway, the railway network had the potential to redefine Ipoh's landscape into a dynamic modern transit hub that blends mobility, mixed-use development and sustainability. "This approach encourages sustainable lifestyles, reduces traffic congestion, centralises development around stations and transport hubs, and reinforces public transport as a preferred choice for the people," he said. Phase One of the project will focus on preserving 2.5ha of green space, including landscaping upgrades and a recreational park, while Phase Two will see mixed-use development across 24.4ha. "This plan will not only add economic and transport value but also stimulate tourism by positioning Ipoh as a modern, well-connected and accessible city," he added. Loke said the Transport Ministry had also outlined plans to strengthen services in tandem with the project, including the extension of the Northern Komuter Line from Butterworth to Ipoh in September 2023. The government has further approved the procurement of 12 new three-car electric train sets worth RM283 million to replace ageing units, in line with growing passenger demand. "Since the Butterworth–Ipoh line extension, average daily ridership has risen by 29 per cent, from 12,668 passengers in 2023 to more than 16,000 in 2024. "Each of the new train sets can accommodate 470 passengers at any one time, with at least 170 seats per train," he said.
The Star
11-07-2025
- Business
- The Star
MRCB forms joint venture for RM6.25bil Ipoh transit project
Artist's impression of the bus terminal planned for Ipoh Sentral. — Courtesy of MRCB PETALING JAYA: Malaysian Resources Corp Bhd (MRCB), through its wholly owned subsidiary Country Annexe Sdn Bhd (CASB), has entered into a joint venture development agreement with Ipoh Sentral Sdn Bhd (ISSB) to undertake the proposed Ipoh Sentral project in Ipoh, Perak. In a filing with Bursa Malaysia, MRCB said the agreement formalises the collaboration for a proposed mixed-use development based on a transit-oriented development (TOD) model on two parcels of leasehold land. The lands, which span a combined 296,727 sq mt, are currently in the process of being transferred from Railway Assets Corporation to its wholly owned subsidiary, Railway Assets Holding Sdn Bhd. Under the agreement, CASB will take on the role of master developer, commencing with the planning and design works for submission to the authorities for the masterplan development order. The project, excluding a designated cultural zone, carries an estimated gross development value of RM6.25bil and a gross development cost of RM5.62bil. As part of the agreement, CASB will pay ISSB a consideration of up to RM348mil, which includes a guaranteed minimum of RM198mil. The payment will be made through a mix of cash and in-kind assets over a 20-year development period. MRCB said the joint venture is in line with its strategy to expand its land bank and reinforce its position in TOD developments. 'The TOD project will provide recurring income throughout its development period and serve to showcase the company's capabilities in property development, engineering and construction,' it added. The group noted that the commencement and completion dates for the project cannot be determined at this stage, as the development plan has yet to be submitted to the relevant authorities.
New Straits Times
11-07-2025
- Business
- New Straits Times
MRCB subsidiary, ISSB to jointly develop Ipoh Sentral with GDV worth RM6.2 bln
KUALA LUMPUR: Malaysian Resources Corporation Bhd's (MRCB) wholly-owned subsidiary, Country Annexe Sdn Bhd (CASB), and Ipoh Sentral Sdn Bhd (ISSB) will jointly develop Ipoh Sentral in Perak with an estimated gross development value of RM6.25 billion. CASB has today entered into a joint venture development agreement (JVDA) with ISSB to formalise their collaboration on the proposed mixed-use development of Ipoh Sentral. This agreement follows the execution of a memorandum of agreement on January 23, 2025. "The proposed collaboration is in line with the company's corporate strategy, particularly its focus on sustainable growth, portfolio diversification, and community-centric development. "By leveraging its core competencies and industry expertise, the company aims to enhance financial performance while creating long-term value for shareholders, stakeholders, and the communities it serves," MRCB said in a filing with Bursa Malaysia. The company emphasised that the proposed collaboration represents a strategic opportunity for profitable expansion. "The increasing demand for transit-oriented development (TOD) presents attractive prospects for investment and sustainable revenue generation over the long term," it added. MRCB expects the proposed collaboration will enable the company to expand its TOD development expertise to develop and build a modern transportation hub connecting various modes of transportation, and will also upgrade the quality of life of the people through the integrated development. "The TOD project will further provide recurring income throughout its development period and serves to showcase the company's capabilities in property development, engineering and construction," it said. The company said the proposed collaboration will also significantly increase the company's land bank, providing access to additional prime land parcels. The total development period is 20 years commencing from the date of the fulfilment of conditions.
Yahoo
09-06-2025
- Business
- Yahoo
Oppenheimer Raises Price Target on Cloudflare (NET), Maintains Outperform Rating
Cloudflare, Inc. (NYSE:NET) is one of the 10 tech stocks on Wall Street's radar right now. On June 5, Oppenheimer raised its price target on Cloudflare, Inc. (NYSE:NET) from $165 to $200 and maintained an Outperform rating after discussions with Phil Winslow, the company's VP of Strategic Finance & Investor Relations. The firm grew more optimistic about the company's growth prospects due to strong momentum in SASE (Secure Access Service Edge) security, boosted by Magic WAN adoption and improvements in CASB (Cloud Access Security Broker) and data loss prevention security features. The firm noted that the Worker platform's expanding capabilities have gained more traction among developers who favor the shift-left approach. Additionally, new AI-focused edge computing technologies like MCP and A2A, along with a new container service for AI workloads, are also some of the reasons for Oppenheimer's positive outlook. The firm is confident that Cloudflare (NYSE:NET) will exceed expectations for 2025, accelerate revenue growth beyond 30%, and reach a $5 billion ARR by the end of 2028. A close-up of a server array powering a cloud-services system. Cloudflare (NYSE:NET) provides a broad suite of cloud-based security, performance, and network services designed to protect and optimize applications, websites, and data across platforms, including SaaS, IoT, and cloud environments. The company offers security solutions including zero trust and DDoS protection, network services such as Magic WAN, and developer tools alongside consumer products like VPN and DNS services. While we acknowledge the potential of NET as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None. Connectez-vous pour accéder à votre portefeuille
Yahoo
09-06-2025
- Business
- Yahoo
Oppenheimer Raises Price Target on Cloudflare (NET), Maintains Outperform Rating
Cloudflare, Inc. (NYSE:NET) is one of the 10 tech stocks on Wall Street's radar right now. On June 5, Oppenheimer raised its price target on Cloudflare, Inc. (NYSE:NET) from $165 to $200 and maintained an Outperform rating after discussions with Phil Winslow, the company's VP of Strategic Finance & Investor Relations. The firm grew more optimistic about the company's growth prospects due to strong momentum in SASE (Secure Access Service Edge) security, boosted by Magic WAN adoption and improvements in CASB (Cloud Access Security Broker) and data loss prevention security features. The firm noted that the Worker platform's expanding capabilities have gained more traction among developers who favor the shift-left approach. Additionally, new AI-focused edge computing technologies like MCP and A2A, along with a new container service for AI workloads, are also some of the reasons for Oppenheimer's positive outlook. The firm is confident that Cloudflare (NYSE:NET) will exceed expectations for 2025, accelerate revenue growth beyond 30%, and reach a $5 billion ARR by the end of 2028. A close-up of a server array powering a cloud-services system. Cloudflare (NYSE:NET) provides a broad suite of cloud-based security, performance, and network services designed to protect and optimize applications, websites, and data across platforms, including SaaS, IoT, and cloud environments. The company offers security solutions including zero trust and DDoS protection, network services such as Magic WAN, and developer tools alongside consumer products like VPN and DNS services. While we acknowledge the potential of NET as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
