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The Star
5 days ago
- Business
- The Star
Trading ideas: MBSB, FGV, Malakoff, Berjaya Land, Solarvest, Deleum, CIMB, Compugates, Sersol, Poh Kong
KUALA LUMPUR: Here is a recap of the announcements that made headlines in Corporate Malaysia. MBSB Bhd has approved Islamic financing facilities totalling RM180.0mn for Mag Holdings Bhd to strengthen its operations across the halal aquaculture value chain. The Federal Land Development Authority today said it has dispatched the offer documents for its plan to privatise FGV Holdings Bhd , with the offer closing at 5pm on 7 July 2025, unless extended. Malakoff Corporation Bhd 's unit Malakoff Radiance Sdn Bhd has teamed up with New Energy Asia Sdn Bhd to jointly deploy electric vehicle charging infrastructure. Berjaya Land Bhd has signed a memorandum of understanding with Sweden-based SIBS Sdn Bhd to deliver climate-resilient modular housing in Greenland. Solarvest Holdings Bhd has, via a joint venture company, secured a 25-year power purchase agreement with the government of Brunei to invest in, build, and operate a 30MWac solar photovoltaic power plant. Deleum Bhd , through its indirect unit Deleum Oilfield Solutions (Thailand) Co Ltd, is buying Thailand-based MPC Future Co Ltd's oilfield service assets and business for RM60.0mn through a combination of cash and share issuance in a subsidiary. Former head honcho of Securities Commission Malaysia, Datuk Syed Zaid Albar will take over as group chairman of CIMB Group Holdings Bhd from Tan Sri Mohd Nasir Ahmad, effective 20 July 2025. Compugates Holdings Bhd executive director See Thoo Chan has acquired 7.1mn shares or 0.12% stake in Compugates for RM106,299. He now holds a direct interest of 7.9%. Sersol Bhd 's executive director Datuk Mohamed Suffian Awang has reemerged as the company's largest shareholder, after acquiring a 13.7% stake. Poh Kong Holdings Bhd 's 3QFY25 net profit came in almost unchanged at RM47.6mn compared to RM47.7mn a year ago mainly due to higher income tax and operating expenses.
The Sun
5 days ago
- Business
- The Sun
Berjaya Land partners Sweden's SIBS to develop RM170m housing project in Nuuk, Greenland
KUALA LUMPUR: Berjaya Land Bhd (BLand) is venturing into a RM170 million gross development value residential project in Greenland, an autonomous territory in Denmark, part of the company's plan to expand internationally and bring its experience in building homes to new markets. Group CEO Syed Ali Shahul Hameed said BLand is preparing to submit the necessary drawings to the local authority in Greenland for official approval. 'We have already received pre-approval, which means a similar design has already been reviewed and agreed upon by the Municipality of Nuuk, Greenland's capital. 'With this positive response, we can now move ahead with developing a detailed building plan. I expect that by next summer, we will be ready to begin actual construction,' Syed Ali said during the signing of a memorandum of understanding with SIBS Sdn Bhd (SSB) today. He said demand from the community for home purchases is very high, reflecting strong local interest and a clear need for new housing in Nuuk. To address this demand, BLand, through its wholly owned subsidiary Berjaya Greenland Invest A/S, has acquired land in Nuuk, aiming to provide high-quality residential apartments designed explicitly for Greenland's distinctive climate and infrastructure requirements. 'There is a shortage of available housing for residents in the area, so demand is high. 'Most of the time, as soon as we launch a project, the units sell out quickly. As for pricing, it is still a bit early for me to provide exact numbers, but generally speaking, costs are quite high, largely due to factors such as the cost of materials, including metal. 'However, I believe this is a strong investment opportunity overall,' Syed Ali said. BLand signed the MoU with SSB, a Sweden-based company with a manufacturing facility in Penang, a global leader in modular housing systems. This partnership aims to deliver efficient, climate-resilient homes through modular construction – a modern approach that enables faster deployment, cost savings and long-lasting quality. Currently, the housing project is still in the planning and design stages, but it is expected to launch soon. Besides making more homes available, the project will bring significant economic benefits, creating new jobs, involving local contractors, and supporting long-term city growth. 'Regarding the timeline for project implementation ... while we anticipate that the core construction phase can be completed within approximately one year, the logistics of transporting materials from Penang to Greenland may extend the overall schedule. 'We are committed to a thorough and efficient approach, ensuring that all aspects of the project are executed to the highest standards, despite the geographical and logistical challenges,' Syed Ali said when asked about the project's timeline. He said this project reflects BLand's broader vision of creating high-quality developments that are efficient, adaptable, and built with long-term impact in mind. 'Modular construction provides an innovative and timely approach, enabling us to deliver homes faster and more cost-effectively while supporting local capacity building.' SSB executive director Lawrence Chua Sue Lin said the company is developing a modular housing project, a relatively new concept for Malaysia. In this approach, homes are prefabricated in a factory, completed to a high standard and then transported to the intended site for assembly. This method is highly sustainable and environmentally friendly, as it significantly reduces reliance on manual labour, minimises construction waste, and shortens project timelines. While traditional high-rise construction can take up to three years, Chua said, modular housing can complete projects in less than a year, thanks to the company's current annual production capacity of up to 12,000 modules. 'However, in practice, a typical project might utilise around 6,000 modules. This innovative system not only accelerates delivery but also supports greener, more efficient urban development,' he added. With a particular focus on transforming Nuuk into a premier destination for recreation and ecotourism, Berjaya Greenland Invest aims to foster local economic growth, address critical housing needs, and create meaningful employment opportunities for the community.
The Sun
5 days ago
- Business
- The Sun
Berjaya Land partners Sweden's SIBS to develop RM117m housing project in Nuuk, Greenland
KUALA LUMPUR: Berjaya Land Bhd (BLand) is venturing into a RM117 million gross development value residential project in Greenland, an autonomous territory in Denmark, part of the company's plan to expand internationally and bring its experience in building homes to new markets. Group CEO Syed Ali Shahul Hameed said BLand is preparing to submit the necessary drawings to the local authority in Greenland for official approval. 'We have already received pre-approval, which means a similar design has already been reviewed and agreed upon by the Municipality of Nuuk, Greenland's capital. 'With this positive response, we can now move ahead with developing a detailed building plan. I expect that by next summer, we will be ready to begin actual construction,' Syed Ali said during the signing of a memorandum of understanding with Sibs Sdn Bhd (SSB) yesterday. He said demand from the community for home purchases is very high, reflecting strong local interest and a clear need for new housing in Nuuk. To address this demand, BLand, through its wholly owned subsidiary Berjaya Greenland Invest A/S, has acquired land in Nuuk, aiming to provide high-quality residential apartments designed explicitly for Greenland's distinctive climate and infrastructure requirements. 'There is a shortage of available housing for residents in the area, so demand is high. 'Most of the time, as soon as we launch a project, the units sell out quickly. As for pricing, it is still a bit early for me to provide exact numbers, but generally speaking, costs are quite high, largely due to factors such as the cost of materials, including metal. 'However, I believe this is a strong investment opportunity overall,' Syed Ali said. BLand signed the MoU with SSB, a Sweden-based company with a manufacturing facility in Penang, a global leader in modular housing systems. This partnership aims to deliver efficient, climate-resilient homes through modular construction – a modern approach that enables faster deployment, cost savings and long-lasting quality. Currently, the housing project is still in the planning and design stages, but it is expected to launch soon. Besides making more homes available, the project will bring significant economic benefits, creating new jobs, involving local contractors, and supporting long-term city growth. 'Regarding the timeline for project implementation ... while we anticipate that the core construction phase can be completed within approximately one year, the logistics of transporting materials from Penang to Greenland may extend the overall schedule. 'We are committed to a thorough and efficient approach, ensuring that all aspects of the project are executed to the highest standards, despite the geographical and logistical challenges,' Syed Ali said when asked about the project's timeline. He said this project reflects BLand's broader vision of creating high-quality developments that are efficient, adaptable, and built with long-term impact in mind. 'Modular construction provides an innovative and timely approach, enabling us to deliver homes faster and more cost-effectively while supporting local capacity building.' SSB executive director Lawrence Chua Sue Lin said the company is developing a modular housing project, a relatively new concept for Malaysia. In this approach, homes are prefabricated in a factory, completed to a high standard and then transported to the intended site for assembly. This method is highly sustainable and environmentally friendly, as it significantly reduces reliance on manual labour, minimises construction waste, and shortens project timelines. While traditional high-rise construction can take up to three years, Chua said, modular housing can complete projects in less than a year, thanks to the company's current annual production capacity of up to 12,000 modules. 'However, in practice, a typical project might utilise around 6,000 modules. This innovative system not only accelerates delivery but also supports greener, more efficient urban development,' he added. With a particular focus on transforming Nuuk into a premier destination for recreation and ecotourism, Berjaya Greenland Invest aims to foster local economic growth, address critical housing needs, and create meaningful employment opportunities for the community.
New Straits Times
6 days ago
- Business
- New Straits Times
Berjaya Land enters Greenland with RM170mil apartment project
KUALA LUMPUR: Berjaya Land Bhd, a subsidiary of Berjaya Corporation, is making its first foray into Greenland with an apartment project in Nuuk, marking the group's expansion into the Arctic region. This strategic move aligns with Berjaya's long-term vision of global diversification and builds on its 2019 acquisition of a 75 per cent stake in Icelandair Hotels ehf for RM223.1 million, strengthening the group's presence in the North Atlantic tourism corridor. Through close engagement with the Municipality of Nuuk, Berjaya Land identified a pressing housing shortage in the city. In response, its wholly owned subsidiary, Berjaya Greenland Invest A/S, secured land parcels to develop high-quality residential apartments tailored to Greenland's climate and infrastructure requirements. In a major step forward, Berjaya Land today signed a Memorandum of Understanding (MoU) with SIBS Sdn Bhd (SIBS), a Sweden-based modular construction company with a manufacturing facility in Penang. The partnership will leverage SIBS' advanced modular housing systems to deliver climate-resilient homes more efficiently and cost-effectively. "We are excited to move forward with this collaboration, which marks a key milestone in our efforts to deliver modern, practical housing solutions that meet real community needs," said Syed Ali Shahul Hameed, group chief executive officer (CEO) of Berjaya Land. He said the first phase of the development will feature 66 apartment units housed in two- to four-storey blocks, with a projected gross development value (GDV) of RM170 million. Syed Ali said that this project reflects Berjaya Land's broader vision of creating high-quality developments that are efficient, adaptable, and built with a long-term impact in mind. "Modular construction offers a smart and timely approach, allowing us to deliver faster and cost-effective homes while supporting local capacity-building. Our focus remains on developing spaces that not only serve today's needs but also lay the groundwork for resilient, connected communities in the years ahead." The housing initiative is currently in the planning and design phase, with launch targeted later this year. Beyond improving housing access, the project is expected to generate meaningful economic benefits, including job creation, local contractor involvement and long-term urban growth, Syed Ali said. He revealed that Berjaya Land is actively collaborating with the Municipality of Nuuk to explore the next phase of development, which may include a hotel and hotel residences to support Greenland's expanding tourism industry. With the opening of Nuuk's new international airport in November 2024, the city is set to emerge as a major Arctic destination, said Syed Ali. He added that Berjaya Land's planned hospitality investment aims to meet this anticipated demand while upholding strong principles of cultural sensitivity and environmental sustainability.
The Star
6 days ago
- Business
- The Star
Berjaya Land inks plans for residential housing in Greenland
KUALA LUMPUR: Berjaya Land Bhd via its wholly-owned subsidiary Berjaya Greenland Invest A/S has inked a collaboration with SIBS Sdn Bhd to deliver modular housing in Greenland. SIBS, a Sweden-based company with a manufacturing facility in Penang, is a global leader in modular housing systems. According to Berjaya Land's statement, the partnership aims to deliver efficient, climate-resilient homes through modular construction, which is a modern approach that enables faster deployment, cost-savings and long-lasting quality. It said the housing initiative is in the planning and design phase, with the launch expected soon. Meanwhile, Berjaya Land is also working closely with the Municipality of Nuuk to explore the next phase of development, which includes but is not limited to a hotel and hotel residences to support Greenland's growing tourism sector. "This project reflects Berjaya Land's broader vision of creating high-quality developments that are eficient, adaptable and built with long-term impact in mind. "Modular construction offers a smart and timely approach, allowing us to deliver faster and cost-effective homes while supporting local capacity-building," said Berjaya Land group CEO Syed Ali Ahahul Hameed.
