HB Perspective...
January 2026
CONVENTION tourism sector in Penang has recorded strong growth in recent years, with the industry generating an estimated economic impact exceeding RM1bil last year. Penang Chief Minister Chow Kon Yeow said the sector has become a vital lifeline for local industries, bolstering transportation, retail, hospitality and supply chains. He added that with the upcoming Penang Waterfront Convention Centre...
PETALING JAYA: Construction behemoth Sunway Bhd has proposed to acquire rival IJM Corp Bhd in a mega cash-and-shares deal worth in excess of RM11 billion. In its exchange filing today, Sunway said it had served notice of its conditional voluntary takeover offer on the IJM board to acquire all of the 3.5 billion IJM shares at RM3.15 a share. It said the offer price will be satisfied via cash totalling...
GEORGE TOWN, Jan 12 — Penang’s historic waterfront from Swettenham Pier Cruise Terminal (SPCT) to Tanjung City Marina (TCM) will be redeveloped into a commercial promenade under a long-term plan to revitalise the island’s seafront, Transport Minister Anthony Loke Siew Fook said today. He said TCM, the old godowns along the stretch and Church Street Pier are currently run-down but will be...
SEVERAL long-planned transport and infrastructure projects in Penang will move into the construction and delivery phase this year. State infrastructure, transport and digital committee chairman Zairil Khir Johari said the Penang Light Rail Transit (LRT) Mutiara Line, being built under the Penang Transport Master Plan (PTMP), would be advancing following completion of preparatory works. Another major...
The Malaysia My Second Home (MM2H) scheme, which generated nearly RM900 million (S$284.2 million) in the year to June 2025, is increasingly being used as a visa for globally mobile families chasing international school access and a second base – not just retirees looking to settle. Behind the headline inflows, demand is increasingly concentrated. Chinese nationals make up about 53 per cent of main...
January 10, 2026 BATU KAWAN: Penang's tourism sector is projected to maintain strong growth this year, with over eight million tourists expected to arrive via Penang International Airport. State Tourism and Creative Economy Committee chairman Wong Hon Wai attributed the growth to several new international flight routes, particularly direct services from Asian and Southeast Asian countries. "Last...
January 6, 2026 PETALING JAYA: Malaysia's residential property prices are expected to increase only modestly this year, by around one to two per cent, according to Real Estate and Housing Developers' Association (Rehda) president Datuk Ho Hon Sang. Speaking at the CEO Series 2026 pre-launch press conference today, Ho said that while construction costs are rising due to operational and logistics...
KUALA LUMPUR (Jan 5): Sunway Bhd (KL:SUNWAY) has acquired three land parcels in Selangor and Penang for RM179.8 million, in a move to strengthen its presence in key urban growth corridors. Spanning nearly nine acres, the acquisitions involve parcels in Puchong and USJ 1, Selangor, as well as George Town, Penang. They are earmarked for mixed-use developments with a combined estimated gross...
January 5, 2026 GEORGE TOWN: The new shopping centre at Penang Waterfront Convention Centre (PWCC) will complement the area's mixed-use development, supporting business and tourism without creating a retail glut. IJM Perennial Development director Datuk Tony Ling Thou Lung said the retail component is part of an integrated project including a convention centre, offices and hotels, and is not intended...