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New Straits Times
17 hours ago
- Business
- New Straits Times
Classita appoints former IGP as chairman, rebrands to NexG Bina in affordable housing push
KUALA LUMPUR: Classita Holdings Bhd has appointed former inspector-general of police Tan Sri Razarudin Husain as non-executive chairman, effective immediately, as the company pivots toward public-interest-aligned development and large-scale infrastructure projects. The leadership change follows NexG Bhd's emergence as Classita's substantial shareholder with a 32.61 per cent stake. The group has proposed a rebranding to NexG Bina Bhd, subject to shareholder approval, to reflect its shift into construction and development in partnership with NexG Group. Ng Keok Chai, previously executive chairman, has been redesignated as executive director and will remain actively involved in project execution and business development under the company's new direction. Leveraging his four decades in the police force, Razarudin is spearheading a proposal for a dedicated residential project for members of Koperasi Polis Diraja Malaysia (KPDRM) on Classita's Ulu Kelang landbank. The initiative, originally earmarked for a public service housing project (PPAM), will be repositioned as a mission-driven development aimed at affordable, dignified housing for police personnel and their families. "Affordable, dignified housing is not just a need - it's a foundation for stability, morale, and long-term wellbeing. This initiative is not about property; it's about purpose. By proposing this to KPDRM, we're creating a win-win solution - uplifting the lives of those who serve the nation, while aligning Classita's future with meaningful, socially driven development," he added. In addition to housing initiatives, Classita is preparing for participation in large-scale infrastructure projects, most notably the MRT3 System Project. The company is collaborating with Lion Pacific Sdn Bhd to jointly tender for the MRT3 System Project, with Lion Pacific acting as lead contractor. Under the proposed arrangement, Classita is expected to undertake the SY303 work package, which involves the supply, testing, and commissioning of electric trains and related systems. Classita said this partnership positions it to play a significant role in national infrastructure delivery and reflects the company's capacity to meet the demands of high-value, public-sector engineering contracts aligned with the Madani agenda. With strategic support from NexG, whose core businesses include secure ID solutions, eKYC platforms and government-aligned digital infrastructure, Classita is set to expand its role in affordable housing, infrastructure and public-private partnership programmes. Under the 13th Malaysia Plan, the government aims to build one million affordable homes by 2035, alongside major investments in transport, urban renewal and infrastructure. A total of RM560.45 million has been set aside to upgrade 1,776 health clinics, while over 82,000 police and army quarters are being built or refurbished. The Malaysia Construction Industry Report 2025 notes over 1,049 public projects worth RM58.8 billion in the pipeline, with RM60–70 billion in annual opportunities for housing, infrastructure and institutional works. Razarudin said with the backing of NexG and a renewed leadership mandate, Classita is transforming into a development platform that serves not just markets but Malaysians. "We are aligning ourselves with the nation's policy agenda—from affordable housing and infrastructure to projects that deliver lasting socioeconomic impact. "To realise these ambitions at scale, government support will be crucial — including strategic land allocations, regulatory facilitation, and integration into national programmes.
The Star
01-07-2025
- Politics
- The Star
New KL high-rises fuel fears of worsening congestion
Taman Intan Baiduri residents gathered in front of the site (left) of the proposed high-rise housing project along Jalan Intan Baiduri 5D.— RAJA FAISAL HISHAN/The Star Residents of Taman Intan Baiduri want Kuala Lumpur City Hall (DBKL) to make it a requirement that new developments have direct access to Middle Ring Road 2 (MRR2). They are objecting to a 32-storey housing development in their area, citing fears of severe traffic congestion and lack of supporting infrastructure. The development, comprising 192 units under Federal Government's Public Housing for Civil Servants (PPAM) programme, is planned along Jalan Intan Baiduri 5D, a narrow access road that already serves several housing areas and three schools. 'This area is already under heavy strain,' said community activist Yee Poh Ping in a press conference at the site with some 30 residents. 'We are not against development. But there must be proper planning. 'We cannot keep building without traffic dispersal plans or alternative access routes.' The proposed site sits less than 100m from SK Intan Baiduri, SK St Mary and SMK St Mary. The stretch experiences daily bottlenecks during school hours, with residents reporting that it can take up to one hour to reach Kepong via MRR2. Yee said the congestion stemmed from the area's layout which only has two main exit points, both leading to already saturated roads heading towards Selayang, Kepong and Batu Caves. The situation is expected to worsen with the addition of two other high-density projects nearby – Rumah Belia Madani (1,048 units) and a private development with 558 condominium units and 239 low-cost units. A resident identified only as Low, who has lived in the neighbourhood for 30 years, said the roads were never designed to support such density. 'This access road to our homes and schools is being used by residents in nearby neighbourhoods. 'A high-rise here will overwhelm the system. 'We're already seeing spillover parking and daily jams,' Low added. Another resident who only wanted to be identified as Wong said, 'If they must build, then they need to build an access road that exits directly to MRR2.' She also questioned how a 32-storey building could be proposed on what she said was just 0.4ha of land. 'What is the plot ratio? We have the right to know,' she said, pointing to lack of information on a notice board at the site. Resident Sharifah Fairuz urged DBKL to prioritise proper traffic planning. 'Young people need affordable homes, yes, but not at the cost of others' quality of life,' she said. 'Hold a public hearing and engage with us before finalising anything.' Yee said the root problem was that the stretch of MRR2 near Taman Intan Baiduri lacked proper U-turn access points. He proposed DBKL and Gombak Public Works Department to build two new U-turn interchanges along the stretch from Taman Daya to the Batu Caves roundabout. Yee said a protest letter has been submitted to DBKL, calling for a public hearing and engagement with stakeholders.
Borneo Post
29-05-2025
- Business
- Borneo Post
Sabah developer KTI commits to affordable homes below RM300,000
From left: Wilson Loke (Group Executive Director), Stella Loke (Group Executive Director), Datuk Tan Kok Liang (Indipendent Non-Executive Director), Dato' Hj Hamzah bin Haji Ghazalli (Independent Non-Executive Chairman), Datuk Dr Gordon Loke (Group Managing Director/CEO), Chua Chai Hua (Independent Non-Executive Director), Lim Guik Moi (Independent Non-Executive Director), Harjeet Singh (Chief Financial Officer) and Azlan Khalid (Chief Operating Officer). KOTA KINABALU (May 29): Sabah-based property developer KTI Landmark Berhad has committed to keeping its affordable housing units below RM300,000, well under the federal ceiling price of RM380,000 for affordable housing. 'We don't go up to the RM380,000 mark. Even if we could, we prefer to offer homes in the RM250,000–RM300,000 range. That's part of our corporate social responsibility,' said KTI Group Managing Director and Chief Executive Officer Datuk Dr Gordon Loke after the company convened its first Annual General Meeting (AGM) since its listing on the ACE Market of Bursa Malaysia in June last year. KTI is an active contributor to the Perumahan Penjawat Awam Malaysia (PPAM) programme, a initiative offering subsidised homes for civil servants. Loke said KTI has delivered around 5,000 units under PPAM over the past five to six years. 'PPAM is more than a business opportunity; it is about meeting a national need. We want to ensure that all government staff, federal or state, have access to quality, affordable housing,' he said, adding that KTI works closely with Lembaga Pembangunan Perumahan dan Bandar (LPPB) on other state-linked affordable housing efforts. KTI recorded a profit after tax of RM8.5 million for the financial year ended 31 December 2024 (FY2024). The meeting, held here today, marked a significant milestone for the homegrown company, which began as a small construction outfit in 1984 and is now one of Sabah's most active property players. In his address, Loke said the company's performance post-listing reflects its firm footing in the industry. 'This is our first AGM since our IPO in June last year. Our share price has risen from RM0.30 at listing to RM0.40 as of yesterday, reflecting more than 30 per cent appreciation. This shows investor confidence in our long-term strategy and our strong focus on affordable housing,' he said. KTI Landmark posted RM175.4 million in revenue in FY2024, supported by total sales of RM267.8 million and unbilled sales of RM294.4 million. Despite RM1.96 million in listing-related expenses, the company reported a resilient bottom line and a healthy pipeline of projects with an outstanding order book of RM214 million and total gross development value (GDV) of RM2.73 billion, including hospitality and retail developments. Speaking to reporters later, Loke shared that KTI had launched seven projects simultaneously this year, with another three in the pipeline before the end of 2025. He added that five new projects identified would ensure continuity for the next five to seven years. 'We are already 41 years in the market. This longevity gives confidence to buyers and stakeholders. And we continue to receive enquiries from government agencies for staff housing solutions,' he said. He also expressed confidence that the ongoing US-China tariff war would not significantly affect the local construction sector. 'Most of our raw materials are sourced within ASEAN, so the impact on us is minimal. Prices have remained stable, and while we continue to monitor the situation, we don't foresee major disruptions,' he said. Meanwhile, KTI Group Chairman Datuk Hamzah Ghazalli said the company's listing last year was not merely a financial milestone but a signal of enhanced corporate governance, transparency and accountability. 'We have moved from being a local contractor to a fully-fledged developer with a national presence. Projects like Ayuria Place and The Logg reflect our capacity to deliver on both sustainability and lifestyle,' he said. KTI has integrated green building practices and digital tools into its operations, including industrialised building systems (IBS) and online property platforms catering to tech-savvy buyers. With Sabah's urbanisation continuing to rise and federal construction data pointing to a sector-wide rebound in 2024, KTI sees opportunities for further growth, particularly through strategic landbank expansion, public-private collaborations and enhanced ESG (Environmental, Social and Governance) commitments. The AGM ended on a note of gratitude. 'To our shareholders, staff and partners, thank you for standing with us. KTI's journey is only beginning. We remain dedicated to building not just homes, but a better Sabah,' said Hamzah.
The Sun
07-05-2025
- The Sun
Company director held over RM1.65m false claim for PPAM project
PUTRAJAYA: A construction company director with a Datuk title has been arrested by the Malaysian Anti-Corruption Commission (MACC) for allegedly submitting documents containing false details involving RM1.65 million in connection with the RM162 million Civil Servants Housing (PPAM) project in Perak. According to a source, the man in his 60s was arrested at about 5.15 pm yesterday when he turned up to give his statement at the MACC headquarters here. 'The suspect is believed to have committed the offence in March 2025 by submitting documents with false details to the bank to withdraw about RM1.6 million from a RM69 million financing facility for the project,' said the source. The man has been remanded for five days until May 11 after Magistrate Siti Roslizawati Mohd Zanin allowed the MACC's application at the Putrajaya Magistrate's Court today. MACC Investigation Division senior director Datuk Zainul Darus, when contacted, confirmed the arrest and said the case was being investigated under Section 18 of the MACC Act 2009.
The Star
07-05-2025
- The Star
MACC nabs company director over RM1.65mil false claim for housing project
PUTRAJAYA: A construction company director with a Datuk title has been arrested by the Malaysian Anti-Corruption Commission (MACC) for allegedly submitting documents containing false details involving RM1.65mi in connection with the RM162mil Civil Servants Housing (PPAM) project in Perak. According to a source, the man in his 60s was arrested at about 5.15pm Tuesday (May 6) when he turned up to give his statement at the MACC headquarters here. "The suspect is believed to have committed the offence in March 2025 by submitting documents with false details to the bank to withdraw about RM1.6mil from a RM69mil financing facility for the project," said the source. The man has been remanded for five days until May 11 after Magistrate Siti Roslizawati Mohd Zanin allowed the MACC's application at the Putrajaya Magistrate's Court Wednesday (May 7). MACC Investigation Division senior director Datuk Zainul Darus, when contacted, confirmed the arrest and said the case was being investigated under Section 18 of the MACC Act 2009. — Bernama
