Penang · 32 stories
AmFIRST REIT sells Menara AmBank for RM331mil, hunting for industrial and healthcare assets - its best performer is a hypermall in Bukit Mertajam
The AmBank-sponsored trust is selling its Kuala Lumpur headquarters tower at a 3.7% yield, cutting gearing from 46.6% to 33.9%, and says the first acquisition in a decade will be a…
Ann Joo exits steelmaking: Green Esteel takes the Prai mill and its 200-acre freehold Bandar Prai title for RM290mil — less than Axis REIT offered for two-thirds of the land
The RM150 million in Monday’s filing was only the completion instalment. You Zhenhua’s Green Esteel, already Southern Steel’s controlling shareholder, now owns Ann Joo Steel Berhad…
IOI Properties halves the debt paydown from its RM7.58bil REIT and doubles the money for new property
IOIPG Malaysia REIT was constituted on 11 September and its nine sale agreements and six hotel master leases are signed. The 14 September filing cuts debt repayment from RM3.04 bil…
PTT Synergy buy 9.7acres at RM62.53mil in Seberang Perai Selatan - RM148 psf and turned into Jabil’s RM400mil logistics hub
Through a subsidiary named PTT Logistics Hub 3, the warehouse developer is buying Geran 77766, Lot 1597, Mukim 12 — 3.925 ha of first-grade, unencumbered freehold land — from a pri…
SkyGate NHJ commits US$30mil to a 36,000 sq ft plant in the Perai Free Industrial Zone
The Malaysia–Singapore precision machining joint venture opened its Perai FIZ facility on 4 September with Chief Minister Chow Kon Yeow officiating, committing US$30 million (RM121…
The Cheah trust’s 80-year lock has expired, its 2.32-acre Jalan Kelawai corner sold for RM130mil, RM1,287 psf
A trust written when Cheah Leong Keah died in 1941 required his Penang properties to stay intact for 80 years. That period has run, and seven clusters worth an estimated RM300–400 …
Penang puts 6 acres land beside Gurney Bay up for auction at RM1,200 psf to pay for the Air Itam bypass, and to find out what the waterfront is really worth
P.T. 858, a 2.42 ha freehold plot at Bandar Tanjung Pinang next to Gurney Bay, goes to public auction at Komtar on 7 October with a RM313.632 million reserve. The sale funds Consor…
TT Vision commits RM92mil to a 153,000 sq ft factory on PDC’s Plot 81A, Bayan Lepas — RM160 psf land, RM600 psf to build, and a company worth RM105mil
TT Vision Technologies has awarded Yu Tong Construction a RM92 million contract to build a factory-cum-office on Plot 81A, Bayan Lepas Industrial Park — 3.6 acres leased from PDC f…
Kerjaya Prospek wins its first data centre job — RM858mil in Johor — and takes full ownership of 4.5 acres in Tanjung Bungah on the same day
The contractor accepted an RM858 million MEP fit-out award for an unnamed data centre in Iskandar Puteri, its largest contract ever, pushing its order book to a record RM5.9 billio…
Penang approved RM17.3bil of manufacturing investment in six months — 77% of all of last year, and 69% of it is existing factories expanding
MIDA figures released on 3 September put Penang first in Malaysia for approved manufacturing investment in 1H2026: RM17.3 billion, 34% of the national total and 38% up year-on-year…
IJM Waterfront Shoppes soft-opens 29 October
The retail component of IJM Land and Perennial’s The Light City in Gelugor is set to soft-open on 29 October 2026, matching IJM’s own October guidance. quoted “1.5 million sq ft NL…
CapitaLand’s REIT bought a Sungai Jawi warehouse estate for RM80mil - diversification journey
CapitaLand Malaysia Trust paid RM80 million for 12.6 freehold acres and about 344,000 sq ft of warehousing at Kawasan Perusahaan Valdor, completing in December 2022. It was the REI…
SIBS’s RM500mil Penang Science Park plant, the Swedish modular builder now ships Penang-made apartments to the UK, Australia and Greenland
Scandinavian IBS opened a 15-acre, ~500,000 sq ft second plant at Penang Science Park (North), Simpang Ampat in September 2022, part of a RM500 million programme promising 1,200 jo…
Penang pushes medtech as its hedge against the chip cycle — and medtech tenants are the strongest industrial occupiers in Penang
Chief Minister Chow Kon Yeow told IMDEC 2026 that Penang now hosts seven of the world’s top 30 medtech firms and drew RM2.3 billion in approved sector investment from 2021 to Q1 20…
Freehold Batu Ferringhi beachfront site for sale at RM140mil — land approved for 722 keys, not a hotel
Colliers has launched a 3.344-acre freehold beachfront site on Jalan Telok Bahang for sale by EOI at RM140 million, with approvals for 473 serviced apartments and 249 hotel rooms. …
Kong Thai Lai, George Town’s 106-year-old kopitiam, closes on 26 September — pushed out by a third property sale
The Hainanese coffee shop founded on Lorong Hutton in 1920, and a daily haunt of the late Tan Sri Loh Boon Siew, will serve its last cup on 26 September 2026. Its third-generation …
Chicken Claypot House parent lands US$50mil data centre deal — but its stock craters
Nasdaq-listed CCH Holdings, owner of the Chicken Claypot House restaurant chain, announced a US$50 million data centre services deal with an undisclosed client. Shares fell 25.7% o…
DoubleTree Resort by Hilton Penang tendered for Sale (via Tender) at RM250 million — RM791,000 a key
The 316-room Batu Ferringhi resort for sale at RM250 million and the tender closed on 15 August with no outcome announced. The per-key maths looks competitive but it is not a beach…
RM500 million bridge to Pulau Jerejak starts next month — and Penang wants a financial hub on the other side
Road widening begins in September for the 1km bridge giving Pulau Jerejak its first-ever road access. On the island: a 32ha development pitched as a financial centre for Penang’s 2…
YBS International hit with winding-up petition over disputed US$6mil from its own RM159mil acquisition
Shares in Penang-based YBS International fell as much as a third after Singapore’s Allied Technologies Holdings filed a winding-up petition over a US$6 million sum tied to the same…
MBPP leases two derelict George Town heritage buildings for close to RM3.88mil over 45 years
Penang Island City Council has awarded a 45-year, tenant-funded restoration lease on a condemned Kampung Kolam shophouse row and a Mount Erskine bungalow — a template worth knowing…
Penang launches ONEMAP+: 1,977 CCTV cameras, 439 AEDs and 494 EV chargers on one public map
The Penang state government has put its CCTV, AED and EV charger locations onto a single public map, accessed through the Penang Smart Parking app. The platform is built by the sta…
YBS International buys the Perai factory it was renting for RM390,600 a month
YBS International’s subsidiary is paying RM23.5 million for the Perai semi-detached factory it already occupies — the second adjoining lot it has bought on the same road, at the sa…
Intuitive’s RM2 billion Batu Kawan plant: 40 acres carry a seven-acre building
The da Vinci robotic-surgery maker will spend more than RM2 billion over five years on its first Malaysian plant at Bandar Cassia Technology Park — about RM817 million of it on lan…
A Century of Tin Smelting Ends in Butterworth — Potential 40 Acres Straits City Re-development
Malaysia Smelting Corporation has moved its smelting operations from Butterworth to Pulau Indah, Klang, retiring a plant that ran for more than a hundred years. The freehold land i…
THMY Upsizes New Batu Kawan Factory to RM172.6mil — Five Times the Original Budget
Automated test solutions firm THMY Holdings has expanded its new Batu Kawan factory plan to RM172.6mil — five times the RM29.35mil budgeted at its IPO — with built-up area more tha…
Eppendorf picks Batu Kawan: RM180mil plant is its first factory in Southeast Asia
German lab-equipment maker Eppendorf has signed with PDC for a greenfield RM180mil plant at Bandar Cassia Technology Park — its first factory in Southeast Asia, exporting to the US…
PDC Takes Full Control of BKIP2 in Byram After Three Failed Tenders
The Penang Development Corporation will develop the 1,300-acre Batu Kawan Industrial Park 2 in Byram itself after three RFP rounds failed, releasing about 200 acres of industrial l…
Eight Fire-Damaged Lebuh Aceh Shophouses to Become RM10mil Cultural Heritage Hub
George Town World Heritage Incorporated has launched a RM10mil restoration of eight Category II heritage shophouses on Lebuh Aceh, damaged in a 2015 fire, into a Cultural Heritage …
Jabil further Expands in Malaysia Roots as It Climbs the Manufacturing Value Chain
Thirty years after opening its first Asian factory in Penang, Jabil now runs six Malaysian facilities employing 14,000 people. Malaysia MD Tan Siew Jin tells The Edge how the group…
Hektar REIT Closes RM30mil Bayan Lepas Factory Buy at a 7.5% Triple-Net Yield
Sixteen months after announcing it, Hektar REIT has completed the RM30mil purchase of a Bayan Lepas Free Industrial Zone factory from MQ Technology unit Microlead Precision — a sal…
PM Anwar Opens MKS Inc’s RM400mil Super Center Factory in Batu Kawan
US semiconductor equipment giant MKS Inc has opened its Super Center Factory at Bandar Cassia Technology Park, Batu Kawan — its largest manufacturing investment since founding in 1…
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