News by Choy Nyen Yiau

The government has initiated negotiations with toll concessionaires to restructure toll collection on 19 highways as per the Cabinet's decision on Dec 18, 2020, according to Deputy Works Minister Abdul Rahman Mohamad.

A total of 26,286 completed houses, valued at RM18.3 billion, were reportedly unsold in the second quarter of 2023 (2Q2023).

Property developer GuocoLand (Malaysia) Bhd's net profit surged threefold to RM4.79 million in its first quarter ended September 30, 2023 (1QFY2024) from RM1.57 million a year ago, attributed to overall improvement in the property development and hospitality divisions.

There were 1,920 residential units auctioned in the first nine months of 2023, with a total value of RM529.03 million, according to Local Government Development Minister Nga Kor Ming.

The Malaysia-China Kuantan Industrial Park (MCKIP) has achieved a cumulative investment value of over RM31 billion across 21 projects, and is expected to create more than 14,000 job opportunities, according to Deputy Minister of Investment, Trade and Industry Liew Chin Tong.

The Malaysian government is still searching for a suitable financing method for the Kuala Lumpur-Singapore High-Speed Rail (HSR) project before bringing it to the Singapore government for further discussions, says Transport Minister Anthony Loke.

The additional RM4.7 billion allocation for the LRT3 project, as announced in Budget 2024, will be used for various purposes, according to Transport Minister Anthony Loke.

Anwar pointed out that Malaysia's economic indicators, such as inflation and unemployment rates, are still relatively low, while the economy and investments are steadily growing.

The Ministry of Transport (MOT) intends to initiate negotiations for the continuation of the current Keretapi Tanah Melayu Bhd (KTMB) Tebrau Shuttle service from Johor Bahru to Singapore, even after the Rapid Transit Service (RTS) begins its operations.

The commencement of design and development work for the open payment system serving the rapid rail network under Prasarana Malaysia Bhd is expected to begin in March 2024,  according to Transport Minister Anthony Loke.