Latest news with #IpohSentral
The Star
6 hours ago
- Politics
- The Star
PM: RM5bil recovered from graft cases in past year
Flourishing industry: Anwar bottle-feeding a calf at the Perak Farm Fresh dairy complex. Also present is Farm Fresh chief operations officer Azmi Zainal. — Bernama IPOH: Assets and funds worth up to RM5bil have been recovered from corruption cases in the past year, says Datuk Seri Anwar Ibrahim. The Prime Minister said these were recovered from ministries, government agencies and politicians. 'There are taunts and cynicism towards the government's hard stance on fighting corruption. 'But over the past year, we have recovered RM4bil to RM5bil in assets and funds seized from corruption cases across ministries, departments, Immigration, Customs and even politicians. 'This is due to our competence and willingness to take action (against corruption). 'This is also only possible with good governance,' he said at the groundbreaking ceremony for the first phase of the RM6.26bil Ipoh Sentral project. On another matter, the Prime Minister expressed hope to see more developments and projects that are in line with the Madani concept. 'Our nation must always be concerned and compassionate towards the people; otherwise, Madani is nothing more than a slogan. 'We need to have aspects that can elevate culture, civilisation and new technologies of the people,' he added. Anwar also hopes to see unique-looking buildings that are suitable for the country's environment, current needs, culture and heritage. 'We want to see Ipoh have a special landmark, with cultural vibrancy rooted in heritage, yet modern and embracing new technologies, digitalisation and artificial intelligence,' he added. At an event earlier, Anwar reaffirmed that those responsible for the death of Form One student Zara Qairina Mahathir will be brought to justice but called on parties not to manipulate the case in ways that create negative perceptions. While giving assurance that no individual will be allowed to escape accountability, the Prime Minister said the case, however, should not resort to insulting specific individuals. 'The police are investigating (the matter), and I have made it clear that it doesn't matter who (is involved); they will be investigated,' he said when launching the Madani Dairy Entrepreneurs Carnival yesterday, Bernama reported. The Prime Minister said the government will continue to support initiatives that strengthen the nation's food security, including the dairy industry. Expressing pride in the achievements of local dairy producer Farm Fresh Bhd, he praised the company for its contribution to the dairy sector, job creation for Malaysians and commitment to corporate social responsibility. Anwar also pointed out that Malaysia's close ties with its regional partners, especially within Asean, have opened up broad opportunities for cooperation in various fields, including agriculture and dairy. He noted that this sector's success is also supported by the readiness of the private sector, the resilience of local entrepreneurs, and the integration of modern technology, including artificial intelligence.
Malay Mail
19 hours ago
- Business
- Malay Mail
Mega projects must serve people, not turn cities into concrete jungles, says Anwar
IPOH, Aug 16 — Prime Minister Datuk Seri Anwar Ibrahim today cautioned against development that strips away local culture and identity. Speaking at the ground-breaking ceremony of the RM6.25 billion Ipoh Sentral Development Project here, he said developers must be able to balance the pursuit of progress with public needs and preserve heritage. 'What I mean is that we don't want buildings that may appear grand and impressive, but are culturally barren. 'At times, in our eagerness to pursue development, we simply copy ideas from elsewhere, even though we know the setting and environment may not necessarily be compatible, whether in terms of climate, social values, or cultural context,' he said. Citing KL Sentral as an example, he said the mega transportation hub in Kuala Lumpur 'is merely a basic reference point, but not a good example to emulate'. 'So, we want something different when envisioning Ipoh, with its own unique landmarks. 'What makes it special is the cultural vibrancy rooted in our heritage, yet it remains modern, embracing new technologies, digitalisation, and artificial intelligence, while still preserving our values and culture,' he added. Artist's impression of the Ipoh Sentral project launched on August 16, 2025. — Picture courtesy by Malaysian Resources Corporation Berhad (MRCB). Anwar praised project developer Malaysian Resources Corporation Berhad (MRCB) for reflecting the Madani concept and urged stakeholders to refine the plans further. 'In the coming months, I request the Perak Menteri Besar, the Transport Minister, the City Council, the Housing and Local Government Ministry, and the Education Ministry to study all these aspects. 'Even though the plans have already been drawn up, we must see if improvements can still be made. 'If we can enhance it further, then Ipoh Sentral can become one of the best and most holistic development models in our country, a project we can proudly showcase,' he said. Designed as a Transit-Oriented Development, Ipoh Sentral will link directly to Kuala Lumpur and Penang Sentral, integrating rail, bus, taxi, e-hailing, cycling and pedestrian networks to promote walkability and reduce car use. The 67-acre project will be developed in two phases: Phase 1 will focus on landscaping, recreational upgrades, and a public park with a mosque alongside existing places of worship; Phase 2 will introduce mixed-use towers with apartments, offices, retail, hotels and community amenities. Expected to create up to 9,000 jobs during construction and over 10,000 upon completion, the project is a joint venture between Railway Assets Holding Sdn Bhd, Silver Smart Sdn Bhd (Perak State Government), and MRCB.
New Straits Times
18-07-2025
- Business
- New Straits Times
CIMB holds MRCB forecast pending progress on Ipoh Sentral JV
KUALA LUMPUR: CIMB Securities Sdn Bhd is maintaining its earnings forecast for Malaysian Resources Corp Bhd (MRCB), pending the fulfilment of key conditions under its joint venture development agreement (JVDA) with Ipoh Sentral Sdn Bhd (ISSB). Among the conditions is the submission of ISSB's development plan to the relevant authorities. "We expect material contributions from Ipoh Sentral to only kick in from FY28F onwards," the firm said in a note. The JVDA was signed this month, following an earlier memorandum of agreement between MRCB and ISSB on January 23, 2025, to jointly develop the Ipoh Sentral mixed-use project. The development will span two parcels of land totalling 67 acres, currently owned by Railway Assets Corp, which is in the process of transferring the land to its wholly owned subsidiary, Railway Asset Holdings Sdn Bhd (RAHSB). ISSB is a 50:50 joint venture between RAHSB and Silver Smart, a wholly owned entity of the State Secretary Perak (Inc). The land development and management rights were assigned to ISSB under an earlier agreement signed on Nov 29, 2024. Based on a transit-orientated development (TOD) concept, Ipoh Sentral is located adjacent to the historic Ipoh train station. Marketed as a transformative hub for the city, the project will feature a dynamic mix of residential, commercial, office, and hospitality components. With an estimated gross development value (GDV) of RM6.3 billion and projected development costs of RM5.6 billion, the project is expected to yield a total profit of RM630 million, or about RM32 million annually, CIMB Securities said in a note. In exchange for the development rights, MRCB will pay ISSB RM348 million over 20 years, with a minimum guaranteed payment of RM198 million. Through the JVDA, MRCB and ISSB will form an incorporated joint venture company to lead the 20-year development. The initial phase will focus on enhancing public spaces and amenities, while subsequent phases will introduce residential, commercial, retail, and transit components. MRCB saw a weaker performance in the first quarter of 2025 but remains optimistic about its prospects, buoyed by RM5.6 billion in newly secured contracts expected to boost revenue in the coming years. For the quarter ended March 31, the group posted a 54 per cent year-on-year decline in revenue to RM218.2 million, while profit before tax fell to RM4.9 million from RM19 million previously. Despite the lower earnings, CIMB Securities has reiterated its "Buy" rating on MRCB, with an unchanged target price of 83 sen. Year-to-date, the stock has posted a marginal 1 per cent gain. After hitting a low of around 38 sen in March, it has been on a steady recovery, trading between 52 sen and 55 sen this week. This puts MRCB's market capitalisation at roughly RM2.37 billion. Ipoh Sentral is one of two key catalytic projects MRCB is undertaking in Ipoh, the other being the Ipoh Raya Integrated Park.
