Latest news with #TOD
The Star
5 days ago
- 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
5 days ago
- 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.
The Star
09-07-2025
- The Star
Terengganu, federal govt to discuss maximising ECRL station development benefits
JERTIH: The Terengganu government will engage with the federal government to ensure that Transit-Oriented Development (TOD) projects at six East Coast Rail Link (ECRL) stations in the state bring maximum benefits to local communities. Mentri Besar Datuk Seri Dr Ahmad Samsuri Mokhtar said the discussions will focus on key infrastructure needs, including road upgrades near ECRL stations to encourage greater public access and economic activity. "We will also work with Malaysia Rail Link Sdn Bhd (MRL) and relevant agencies to plan TODs that truly benefit the people. Without proper development, the ECRL offers little value to the community," he said during a working visit to the TOD site at Besut ECRL Station here on Wednesday (July 9). Also present were MRL chief executive officer Datuk Seri Darwis Abdul Razak and state infrastructure, utilities and rural development committee chairman Datuk Hanafiah Mat. Ahmad Samsuri added that as of June, ECRL construction in Terengganu had reached 91.79% completion, the fastest progress among the four states, ahead of Selangor, Pahang and Kelantan. The MB also urged local communities, especially Village Development and Security Committees (JPKK), to act as the authorities' "eyes and ears" to help prevent theft, particularly of cables, along the ECRL route - an issue that could delay project completion. Meanwhile, Darwis said several measures have been taken, including deploying security personnel to hotspots and increasing police patrols. "We're closely monitoring the situation and are thankful for the support from multiple agencies. Raising awareness about cable theft has made everyone more vigilant," he said. Previously, MRL had raised concerns about cable thefts at several ECRL sections across Kelantan, Terengganu, Pahang and Selangor. Transport Minister Anthony Loke also called for firm action by the police, warning that such incidents could disrupt the project timeline. - Bernama
The Sun
09-07-2025
- The Sun
Terengganu discusses ECRL station development benefits with federal govt
JERTIH: The Terengganu government will hold discussions with the federal government to maximise the benefits of Transit-Oriented Development (TOD) projects at six East Coast Rail Link (ECRL) stations in the state. Menteri Besar Datuk Seri Dr Ahmad Samsuri Mokhtar emphasised the need for infrastructure improvements, including road upgrades near stations, to boost accessibility and economic growth. 'We will work closely with Malaysia Rail Link Sdn Bhd (MRL) and other agencies to ensure TOD projects truly benefit the people. Without proper planning, the ECRL's impact on communities will be limited,' he said during a visit to the Besut ECRL Station TOD site. Also present were MRL CEO Datuk Seri Darwis Abdul Razak and State Infrastructure Committee chairman Datuk Hanafiah Mat. Ahmad Samsuri noted that Terengganu leads in ECRL construction progress, reaching 91.79 per cent completion as of June, ahead of Selangor, Pahang, and Kelantan. He urged local communities, particularly Village Development and Security Committees (JPKK), to assist in preventing cable thefts along the rail route, which could delay the project. Darwis confirmed that security measures, including increased patrols and personnel deployment, are in place to curb theft. 'We appreciate the cooperation from various agencies. Public awareness campaigns have also improved vigilance,' he said. Transport Minister Anthony Loke previously called for stricter police action against cable theft, warning of potential project delays. - Bernama
The Star
07-07-2025
- Automotive
- The Star
Space-saving parking solution
Inadequate parking with motorists looking for vacant parking bays in Petaling Jaya is a common occurrence. — Filepic Selangor government is reviewing the suitability of implementing tandem parking to increase carpark capacity at serviced apartments within Transit Oriented Development (TOD) areas. TOD centres are high-intensity, mixed-use development that promote public transport usage through the integration of rail networks and pedestrian links. State local government and tourism committee chairman Datuk Ng Suee Lim said the tandem parking system, where two or more vehicles are parked one behind the other in a single, elongated space, was expected to offer efficient space-saving solution in high density areas. The system, he said, supported the gradual transition to public transport for those living within TOD areas. One of its principles is reducing parking provisions to discourage private vehicle use and encourage public transport. Suee Lim said a significant portion of serviced apartment buyers and tenants were professionals and dual-income households who often owned more than one vehicle. 'A lack of parking bays can create difficulties for residents and lead to uncontrolled use of public spaces for parking. 'During this transitional phase, providing additional parking is crucial to accommodate current mobility habits while still supporting the broader TOD agenda. Suee Lim: Urban planning must prioritise walkable designs and safe cycling paths. 'A shortage of parking spaces within TODs can negatively affect public roads and nearby neighbourhoods, while additional parking space adds market value to the development. 'The increase in parking ratio from one unit to one vehicle (1:1) to one unit to two vehicles (1:2) at serviced apartments takes into account several factors, including current market needs and enhancing development value,' he said during the Selangor State Assembly sitting at Bangunan Dewan Negeri Selangor in Shah Alam. Suee Lim was replying to Michelle Ng (PH-Subang Jaya), who questioned the rationale of increasing the parking ratio for serviced apartment units and whether such a move contradicted the aim of TODs. To ensure a TOD truly met its original goals, Suee Lim said several policy approaches needed to be considered and implemented comprehensively. 'Maximum parking caps should be enforced at TOD areas and local authorities should promote public transport incentives like discounted fares and park-and-ride schemes. 'Urban planning must prioritise walkable designs and safe cycling paths to encourage residents to travel without private vehicles. 'Additionally, mixed-use developments should be encouraged to reduce long commutes daily,' he said.
