Latest news with #RM105
Daily Express
28-05-2025
- Business
- Daily Express
Titijaya to acquire two properties in Sabah
Published on: Wednesday, May 28, 2025 Published on: Wed, May 28, 2025 By: Bernama Text Size: The first proposed acquisition for RM99 million involves the purchase of a parcel of land with foundation works fully completed, and two blocks of 19-storey purpose-built student accommodation buildings comprising 513 apartment-style units that can accommodate 3,078 students. - Titijaya Land Bhd's website Kuala Lumpur: Titijaya Land Bhd (Titijaya) has proposed to buy two property assets in Kota Kinabalu, Sabah, for RM105 million, further deepening its foray into Sabah and the wider East Malaysia region. The urban lifestyle property developer said both properties are located side-by-side and adjacent to Universiti Malaysia Sabah (UMS) and the upcoming Hospital UMS, with both acquisitions expected to be completed within nine months. 'The strategic location of these assets - offering strong connectivity to both UMS and the future hospital - makes the area a highly desirable locality in Kota Kinabalu,' it said in a statement. The first proposed acquisition for RM99 million involves the purchase of a parcel of land with foundation works fully completed, and two blocks of 19-storey purpose-built student accommodation buildings comprising 513 apartment-style units that can accommodate 3,078 students. The second proposed acquisition, for RM6 million, involves a parcel of land with an existing building structure intended for the Bangunan Koperasi UMS project. The original development plan would have seen the construction of a 14-storey apartment building with 476 apartment units, a one-storey shop lot with 38 units, and a three-storey car park podium. Advertisement 'However, the project has not been completed and has since been abandoned. Following the acquisition, the group intends to resume the project to develop new residential properties,' it said. Titijaya Group managing director, Datuk Lim Poh Yit, said the acquisition aligns with the group's environmental, social, and governance (ESG) and sustainability approach to real estate development. 'This move also aligns with our broader growth strategy to diversify our revenue streams and customer base, and extend our footprint beyond the Klang Valley. We believe that these two assets will enable us to benefit from rising demand for housing accommodation in the surrounding area and boost contributions from recurring income to our revenue,' he added. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
Daily Express
27-05-2025
- Business
- Daily Express
Titijaya Announces Proposed Acquisition Of Residential Property Assets In Kota Kinabalu, Sabah For RM105 Million
Published on: Tuesday, May 27, 2025 Published on: Tue, May 27, 2025 Text Size: Kuala Lumpur: Urban lifestyle developer Titijaya Land Berhad ('Titijaya' or the 'Group') announced the proposed acquisition of two (2) property assets in Kota Kinabalu for a total of RM105 million, further deepening its foray into Sabah and the wider East Malaysia region. The first proposed acquisition, for RM99 million, involves the purchase of a parcel of land with foundation works fully completed, and two (2) blocks of 19-storey purpose-built student accommodation buildings comprising 513 apartment-style units. Together, the apartment blocks have a total capacity to accommodate 3,078 students. Following the acquisition, Titijaya intends to operate the completed buildings and complete the remaining project works, tapping into the existing and rising demand for student and housing accommodation in the surrounding area. The second proposed acquisition, for RM6 million, involves a parcel of land with an existing building structure originally intended for the Kompleks Koperasi UMS project, launched in 2012. The original development plan would have seen the construction of a 14-storey apartment building with 476 apartment units, a one-storey shop lot with 38 units, and a three-storey car park podium. Advertisement However, the project has not been completed and has since been abandoned. Following the acquisition, the Group intends to resume the project to develop new residential properties. Both parcels of land sit side-by-side and are located adjacent to Universiti Malaysia Sabah (UMS) and the upcoming Hospital UMS, which is slated to commence operations in 2026. Hospital UMS is set to serve as an important centre for medical education, research and public health services. The strategic location of these assets—offering strong connectivity to both UMS and the future hospital—makes the area a highly desirable locality in Kota Kinabalu. YBhg. Datuk Lim Poh Yit, Managing Director of Titijaya Group, said: "We are pleased to announce the acquisition of these assets, paving the way for the next chapter of our foray into Sabah. This acquisition aligns with our ESG and Sustainability approach to real estate development by increasing the availability of quality accommodation for public university students, and reviving an abandoned housing project for public and social good. Furthermore, repurposing the existing building, following the completion of remaining works, will result in significantly lower carbon emissions compared to constructing an entirely new one. This move also aligns with our broader growth strategy to diversify our revenue streams and customer base, and extend our footprint beyond the Klang Valley. We already have a presence in Sabah via our luxury mixed development, The Shore, and the Citadines Waterfront Kota Kinabalu hotel managed by Ascott. Today's announcement deepens our foray into Sabah and East Malaysia at large, positioning us to be a long-term beneficiary of the region's growth. On a more project-specific level, we believe that these two assets will enable us to benefit from rising demand for housing accommodation in the surrounding area and boost contributions from recurring income to our revenue. Recurring income has the potential to deliver a stable income stream for the Group, while serving as a hedge against short-term fluctuations in the property market. With contributions from this project and other projects such as our logistics commercial complex at Bayan Lepas Waterfront that we have leased to DHL Properties (M) Sdn Bhd, we are steadily strengthening the recurring income component of our revenue mix over the next few years. " The two acquisitions are expected to be completed within 9 months. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
New Straits Times
27-05-2025
- Business
- New Straits Times
Titijaya expands East Malaysia footprint with RM105mil property deal in Kota Kinabalu
KUALA LUMPUR: Titijaya Land Bhd is ramping up its expansion into East Malaysia with the proposed acquisition of two prime property assets in Kota Kinabalu, Sabah, for a total of RM105 million. The urban lifestyle developer said both assets are located adjacent to Universiti Malaysia Sabah (UMS) and the upcoming Hospital UMS, positioning them in a high-demand area with excellent connectivity. The company expects to complete the acquisitions within the next nine months, according to a statement. The larger of the two deals, valued at RM99 million, includes a parcel of land with completed foundation works and two 19-storey blocks of purpose-built student accommodation. The development features 513 apartment-style units, with the capacity to house up to 3,078 students. Titijaya intends to operate the completed buildings and carry out remaining project works to meet rising demand for both student and residential housing in the vicinity. The company has entered into a sale and purchase agreement with Yayasan Universiti Malaysia Sabah, Bay Precinct Sdn Bhd (a construction firm), and one of its directors, Lok Yee Hsun. The second acquisition, priced at RM6 million, involves another parcel of land with an existing building structure originally meant for the Bangunan Koperasi UMS project. The original plan envisioned a 14-storey apartment block with 476 units, a one-storey retail section with 38 shop lots, and a three-storey car park podium. However, the project was abandoned and never completed. Titijaya plans to revive and redevelop the site into new residential offerings. Titijaya group managing director Datuk Lim Poh Yit highlighted that the group already has a footprint in Sabah through developments such as The Shore, a luxury mixed-use project, and the Citadines Waterfront Kota Kinabalu hotel, managed by Ascott. He said that the location of the two assets, offering strong connectivity to both UMS and the upcoming Hospital UMS, makes the area a highly desirable locality in Kota Kinabalu. "This move also aligns with our broader growth strategy to diversify our revenue streams and customer base and extend our footprint beyond the Klang Valley. We believe that these two assets will enable us to benefit from rising demand for housing accommodation in the surrounding area and boost contributions from recurring income to our revenue," he added.
New Straits Times
16-05-2025
- Sport
- New Straits Times
Don't abandon injured players, says ex-M-League team doctor
KUALA LUMPUR: Former team doctor for several Super League clubs, Dr Hazwan Khair, has called for greater accountability from Malaysian teams when it comes to managing injuries — particularly those sustained during national duty or while players are in contractual limbo. Dr Hazwan said while injuries are part of the game, M-League teams cannot afford to ignore the legal and financial implications that come with them. "Teams often forget that their responsibility doesn't end when a player gets injured — in fact, that's when it begins," he said. "You have players who return from national duty injured, sometimes even without a valid contract in place yet. The question becomes: who takes care of them?" A certified World Rugby medical trainer, Dr Hazwan said players negotiating transfers or awaiting contract renewals are especially vulnerable. "I've seen players who were injured while technically still with a club. But once the contract expires or isn't renewed, the club washes their hands of any responsibility. That's unethical and devastating for the player," he said. He stressed the need for clubs to implement a clear injury management framework, covering not only contracted players but also those caught between deals, especially when the injury occurred while representing the club or country. Dr Hazwan added that many teams are unaware of the FIFA Club Protection Programme (CPP), which provides financial cover for players injured on senior international duty under specific conditions. The CPP covers temporary total disablement (TTD) injuries that prevent players from training for more than 28 days. It only applies during official FIFA international match windows, not friendlies or training camps outside those dates. Under the scheme, compensation can go up to €20,548 (about RM105,000) per day, capped at €7.5 million (RM38.4 million), with a 28-day deductible. "Unfortunately, the current Harimau Malaya camp and the friendly against Cape Verde fall outside the CPP coverage," he said. "So if a player sustains a long-term injury during this period, there's no financial protection from FIFA and the club bears the brunt." In the Super League, where resources are often tight, losing a key player to long-term injury can disrupt operations. While CPP doesn't cover medical costs, Dr Hazwan said knowing salaries can be reimbursed helps prevent clubs from being financially crippled. "But beyond that, teams need to take a hard look at how they manage injured players — not just medically, but contractually and ethically," he said. "If a player gets hurt in your colours, whether or not the ink on his contract is dry, there's a duty of care." With Malaysia striving to raise its footballing standards, Dr Hazwan believes it's time clubs and governing bodies professionalised injury management, putting player welfare at the forefront. On Thursday, Timesport reported that Harimau Malaya's friendly against world No 72 Cape Verde at the KLFA Stadium in Cheras on May 29 falls outside the official FIFA window (June 2-10). Harimau Malaya will face Cape Verde again in a closed-door match at the National Stadium in Bukit Jalil on June 3, as part of preparations for their Asian Cup Group F qualifier against Vietnam on June 10.
Malay Mail
05-05-2025
- Business
- Malay Mail
US wanted tech safeguards from ‘unwanted hands' in Malaysia tariff talks, reveals Tengku Zafrul
KUALA LUMPUR, May 5 — Safeguarding American technology from falling into the hands of the unwanted was one of the concerns of the United States, Investment, Trade and Industry Minister Datuk Seri Tengku Zafrul Abdul Aziz revealed today. He said during negotiations to drop the tariffs US imposed on Malaysia, he confirmed that the Americans wanted to make sure that safeguarding their sensitive US-origin technology has become a key point in ongoing bilateral discussions. 'They want to make sure their technology is not misused or diverted to other parties they have export restrictions on. Like for certain chips coming into Malaysia, they want to make sure it isn't shipped or smuggled to other nations, including how it's used. 'Secondly, they are looking to see what investments Malaysia can make with them as they feel there's a trade surplus of US$25 billion (RM105 billion). They want us to invest in industries that they feel need our support. In this case as the prime minister mentioned earlier, we have a lot invested already in bonds and equity markets,' Tengku Zafrul said during a press conference after the special Parliamentary session on US tariffs today. Tengku Zafrul said negotiations with the US are aimed at securing zero tariffs, or at the very least, a significant reduction. Currently, a 24 per cent tariff is imposed on Malaysian goods entering the United States. 'The government's stance when handling this matter is to be careful but stern with decisions made based on facts. We won't cave in to pressure and we welcome all suggestions,' he added. 'Meanwhile our trade with China is strong and we're actively looking to strengthen ties with other nations,' he added.
