TRC Cooperation will take a 30% interest in the Penang cross-sea light-rail project, a contract valued at RM2.69 billion. The stake comes through its wholly-owned subsidiary and joins partners China Communications Construction Company Ltd and Ufuk Semarak Sdn Bhd.
Penang LRT contract details
The joint-venture will handle the extension from Macallum to Penang Sentral, including a 3.05 km sea-crossing bridge. The mainland interchange is planned to link the new line with KTM services, ferries and buses.
The agreement runs for five years, though start and finish dates were not disclosed. TRC expects revenue and earnings contributions proportionate to its 30% share, but the full contract amount is not attributed to the company.
Rural housing fund reallocation
The Rural and Regional Development Ministry moved RM200 million from its 2026 Program Perumahan Rakyat Sejahtera (PPRS) allocation to settle arrears on rural road projects. This shift represents roughly 48.4% of the original RM413 million earmarked for housing.
Deputy Minister Datuk Rubiah Wang told parliament that delays stemmed from land-ownership disputes, unsuitable sites and duplicate applicant names.
For 2027, the ministry has set a RM416.2 million PPRS budget, aiming to fund new construction and home repairs for 12,457 beneficiaries nationwide.
Corporate property moves
UPA Corp Bhd submitted a proposal to add property development and investment to its portfolio, pending shareholder approval. The plan centers on a new factory complex in Seri Kembangan, projected to generate a gross development value of RM94.1 million. Construction progress reached 67 percent by late September, indicating the project is well underway.
APB Resources Bhd signed a conditional agreement to sell the vacant Menara APB tower in Shah Alam for RM45 million cash. The group expects a RM3.23 million net disposal gain. Completion is anticipated by the second quarter of the following year, allowing the proceeds to repay existing borrowings.
Nestcon Builders accepted a letter of award valued at RM161 million from B.U. Developments for a 36-storey serviced apartment tower in Bandar Baru Ulu Kelang, Gombak. Main building works are scheduled for completion on 1 September 2029, establishing a significant addition to the local high-rise market.
Topmix Bhd agreed to purchase freehold land in Subang Jaya covering 1.1635 hectares for RM16 million. The acquisition will support office and warehousing development, subject to conversion of the land title to industrial use before construction can commence.
Infrastructure updates
Seremban Engineering’s subsidiary secured a 12-month cross-border supply framework with EPG Engineering System, targeting data-centre and AI infrastructure projects. The provisional contract value stands at RM18.21 million, with revenue to be recognized as purchase orders are fulfilled.
Selangor will review previously approved development projects to ensure flood-mitigation systems are installed in high-risk zones. Menteri Besar Datuk Seri Amirudin Shari announced that new requirements will include temporary water-retention facilities, aiming to reduce future flood damage.
The Bandar Lawas Bridge, costing RM149 million, opened to traffic after receiving a Certificate of Practical Completion and passing a road-safety audit. The 642-metre structure connects the opposite bank of the Lawas River with the town centre; an official inauguration is set for 18 November.
Melaka’s joint manifesto from Barisan Nasional and Perikatan Nasional pledged the construction of 25,000 affordable homes and the continuation of unchanged quit-rent rates for five years. The caretaker chief minister also proposed loans of up to RM80 000 for individuals building on their own land.
Klanggroup Development handed over vacant possession of its K Commercial Camellia project at Bukit Beruntung, a RM112 million development comprising 88 two-storey shop-offices on roughly 9.98 acres. The project resulted from a joint-development initiative with the Hulu Selangor Municipal Council launched in February 2025.
Research from TA Securities assigned a fair value of RM1.08 to IOIPG Malaysia REIT, implying a 12.5 percent upside from its IPO price. The analysis cited a forecast distribution yield of 6.6 percent compared with 6.2 percent among selected peers, and the REIT’s listing is scheduled for late November.