PGB Eyes Strong Growth from Industrial and Residential Developments After Record Profit Year
For the financial year ended March 31, 2025, PGB achieved a remarkable net profit of RM105.6 million, reversing a previous year's net loss of RM1.2 million. Revenue surged to RM306.3 million from RM51 million the year before, primarily driven by strategic land disposals and robust industrial property sales.
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New Straits Times
an hour ago
- New Straits Times
Tropicana, MBSB Bank offer attractive financing for Johor's Skypark Kepler
JOHOR BHARU: Tropicana Corp Bhd has teamed up with MBSB Bank to offer an attractive financing package for Skypark Kepler, the first branded residences by Banyan Group, located within the Lido Waterfront Boulevard (Lido) development in Johor. Under the collaboration, eligible buyers can enjoy competitive financing margins from as low as 3.85 per cent and flexible loan tenures of up to 35 years. The exclusive financing solution, coupled with a special preferential rate, is tailored specifically for Skypark Kepler purchasers, said Usman Ghouse, MBSB Bank's group head of consumer banking. "We are proud to support Tropicana's Skypark Kepler with a tailored financing package, making premium homeownership more accessible to various buyers alike," said Usman. "This collaboration reflects MBSB Bank's ongoing commitment to empower aspiring homeowners through smart, flexible financial solutions." Skypark Kepler is the first phase of Lido, strategically situated within the Johor Bahru Waterfront Zone - a premium incentive area under the Flagship A Johor-Singapore Special Economic Zone. Starting from RM580,000, Skypark Kepler comprises 1,596 fully furnished designer units ranging from 463 sq ft to 807 sq ft across two elegant 54-storey towers, designed to appeal to young professionals, families and retirees alike. Tropicana managing director for marketing, sales and business development Ixora Ang shared that partially furnished units in Tower A are priced at about RM1,300 per sq ft, while the fully furnished residences in Tower B, featuring premium fittings and furnishings from brands like Samsung and Kohler, are priced at about RM1,800 per sq ft. "We conceptualised the Lido master plan years ago, envisioning it as Johor's future metropolis and our crown jewel in the Southern region. Lido will be a landmark township integrating seven key components, exceptional connectivity, and sustainable smart city living," she said. "We hosted soft launches to gauge the market response to this first, branded residences, and have received positive feedback." Tropicana executive director for marketing and sales Jenny Low said around 80 units at Skypark Kepler have been sold to date, with a gross development value of RM100 million - most purchases coming from foreign buyers. Skypark Kepler's official launch was marked by the unveiling of its new show units and an upgraded property gallery at Danga Bay. The freehold development stands out for its many unique features, including international zoning, proximity to the Johor Bahru-Singapore Rapid Transit System, unobstructed waterfront views, a 2.5km coastal boardwalk, a 32-acre green park, and a cultural centre. In November 2024, Tropicana held the official groundbreaking ceremony with main contractor China State Construction Engineering Corporation and signed partnership agreements with Banyan Group, Samsung, and Kohler for the residences' premium finishes and appliances. In May 2025, Tropicana appointed global architecture firm Skidmore, Owings and Merrill to lead the Lidomaster plan transformation. According to Dr. Jeffrey Yee, Tropicana's managing director for the southern region, Skypark Kepler is slated for completion and handover by late 2029 or early 2030.
Borneo Post
an hour ago
- Borneo Post
Four remanded in Sabah over RM5 mln false claims
KOTA KINABALU (July 2): The Malaysian Anti-Corruption Commission (MACC) has arrested four individuals, including two company owners, for allegedly submitting documents with false information related to the procurement of permit to work (PTW) printing services worth RM5 million. According to sources, the suspects, three men and one woman, in their 40s and 50s, were arrested between 6 pm and 7 pm on June 30 when they appeared at the Sabah MACC office to give their statements. 'In addition to the two company owners, the other two suspects – a former administrator and a former assistant administrator of a local oil company – are believed to have committed the offences between 2019 and 2023,' the sources said. 'The two suspects are also believed to have abetted the company owners by submitting false claims related to the procurement of PTW printing services worth RM5 million,' the sources told Bernama. The arrests of all the suspects were made as a follow-up to Op Effingo, conducted by the MACC Special Operations Division. 'On June 30, the division raided 10 locations, including the suspects' residences, offices, and several companies around Kota Kinabalu, Sabah, and the Klang Valley,' the sources said. 'The MACC seized 22 bank accounts, including Amanah Saham Bumiputera (ASB) accounts, containing approximately RM2 million; various foreign currencies amounting to RM14,000; three luxury vehicles valued at around RM1.3 million; and three mobile phones. The suspects have been remanded for four days, starting Tuesday, after Magistrate Dzul Elmy Yunus allowed the MACC application at the Kota Kinabalu Magistrate's Court. MACC Special Operations Division senior director Datuk Mohamad Zamri Zainul Abidin, when contacted, confirmed the arrests. He said that the individuals will be charged under Section 18 of the MACC Act 2009, as well as other offences under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001.-Bernama
BusinessToday
2 hours ago
- BusinessToday
Johor Tops National Growth With 6.4% GDP Surge In 2024
Johor recorded the highest Gross Domestic Product (GDP) growth in the country for 2024 at 6.4%, surpassing the national average of 5.1%, according to the Department of Statistics Malaysia (DOSM). The surge was largely driven by strong momentum in the services, construction, and manufacturing sectors, bolstered by rapid development in data centres, digital infrastructure and a competitive industrial ecosystem. Johor also maintained its position as the main contributor to the national agriculture GDP at 17.3%, supported by increased palm oil production and growth in the food processing and vegetable oil subsectors. Menteri Besar Datuk Onn Hafiz Ghazi said the state's achievement has strengthened the execution of Agenda Maju Johor, which targets annual GDP growth between 7% and 8% by 2030. 'Praise be to God. Johor has emerged as the state with the highest growth rate in 2024 at 6.4%, surpassing the national growth rate, with the state's GDP now reaching RM158.0 billion. My deepest appreciation to all parties who have worked together to achieve this,' he said in a Facebook post today. 'May this achievement catalyse Johor to continue advancing as an international investment hub, driving national economic growth and securing a brighter future for all, God willing.' He attributed the growth to investor-friendly policies, modern infrastructure development and initiatives to empower the rakyat's economic elements aimed at positioning Johor as a prosperous, sustainable, and inclusive state. Onn Hafiz also highlighted the Johor-Singapore Special Economic Zone (JS-SEZ) as a key driver in attracting regional investments. Johor's strategic location, world-class ports, strong infrastructure and expansive industrial zones continue to boost investor confidence. 'My utmost gratitude to the Regent of Johor, Tunku Mahkota Ismail, for his continuous support, guidance and advice in ensuring the state's economic development continues to advance for the progress and well-being of the Johor people,' he added. Related
