Titijaya Land Bhd is disposing of its logistics hub in Bayan Lepas, Penang, to government-linked property investor Pelaburan Hartanah Bhd for RM300 million, in a deal expected to unlock significant value for the property developer.

The proposed disposal price is nearly double the property’s net book value of RM156 million as at June 30, 2026. The transaction is expected to generate a net gain of approximately RM143 million after estimated expenses.

In a Bursa Malaysia filing, Titijaya said its wholly owned subsidiaries, Aman Duta Sdn Bhd and City Meridian Development Sdn Bhd, entered into a conditional sale and purchase agreement with Pelaburan Hartanah on October 26.

The property comprises 7.06 acres of leasehold land housing Penang Logistics Hub 5, a three-storey logistics commercial complex with a gross floor area of 300,726 sq ft. The facility is currently leased to DHL Properties (Malaysia) Sdn Bhd until October 2034.

Titijaya said the divestment aligns with its strategy of selectively monetising completed investment properties at optimal prices, allowing it to unlock asset value and recycle capital into future growth opportunities.

The sale is also expected to reduce the group’s finance costs following the settlement of the remaining borrowings secured against the property. Upon completion, Titijaya’s net assets per share would increase from RM0.97 to RM1.08, while its gearing ratio would decline from 0.18 times to 0.06 times.

Pelaburan Hartanah is owned by Yayasan Pelaburan Bumiputra, a government-linked entity focused on increasing Bumiputera economic participation and wealth creation. Its activities include investment in commercial real estate, property development, and property and asset management.

The proposed disposal does not require shareholder approval and is expected to be completed in the first half of 2027.

Penang’s semiconductor industry continues to attract investment from local companies, with homegrown engineering firm Estek Automation Sdn Bhd opening a new RM20 million manufacturing plant at Batu Kawan Industrial Park (BKIP).

Spanning approximately 50,000 sq ft, the new facility brings together semiconductor equipment manufacturing, artificial intelligence (AI)-driven solutions and contract manufacturing, giving the company more room to expand its operations and develop new technologies.

Founded in 2015, Estek specialises in semiconductor automation equipment and intelligent manufacturing solutions. Its latest investment reflects the growing role of Malaysian engineering companies in supporting the country’s semiconductor industry.

Chief Minister Chow Kon Yeow, who officiated the opening, said the investment was an encouraging sign of the progress made by local engineering firms in building their own capabilities and delivering higher-value solutions.

He added that the Penang government would continue working with industry players and relevant agencies to strengthen the state’s investment ecosystem and support the growth of local businesses.

Estek Automation chief executive officer Jacky Lee said the new plant would allow the company to increase its manufacturing capacity while strengthening its engineering and research and development (R&D) capabilities.

He also expressed confidence in Penang and Malaysia as destinations for advanced manufacturing, pointing to the state’s established semiconductor ecosystem, which includes multinational companies, a strong supply chain and a skilled workforce.

Beyond expanding production, Estek aims to develop more Malaysian-made technologies and capture a greater share of value within the global semiconductor supply chain.

BYD Mansion Macalister Penang has won the “Interior Builders: Medium Projects” category at the REKA Awards 2026, recognising its interior design and approach to heritage preservation.

Presented by the Malaysian Institute of Interior Designers (MIID), the awards recognise achievements in interior design, with entries evaluated by a panel of industry professionals.

Located within a restored century-old building in George Town, BYD Mansion Macalister combines historic architecture with a contemporary automotive showroom. The space incorporates dedicated consultation lounges, digital touchpoints and personalised customer areas designed to support the customer experience.

The project demonstrates how a heritage building can be adapted for modern commercial use while retaining its architectural character. Its recognition at the REKA Awards highlights the role of interior design in bringing together heritage conservation, contemporary functionality and customer-focused spaces.

Proposed landed residential development on a 9.6 acres of land along Jalan Fajar Indah in Nibong Tebal. It is just a stone’s throw away from Universiti Sains Malaysia Engineering Campus, 5 minutes drive to Nibong Tebal Town centre. Surrounding communities include Taman Minamah and Taman Keramat Permai.

The proposed development will comprise 134 landed residential units, consisting of 112 double-storey terrace houses and 22 double-storey semi-detached houses. A single-storey community hall is also included in the development plan to serve residents.

The project is still in its planning stage and more details will be available upon official launch.

Project Name : (to be confirmed)
Location : Nibong Tebal
Property Type : Residential
Tenure: (to be confirmed)
Land Area: 9.6 acres
Built-up Size: (to be confirmed)
Total Units : 112 (terrace), 22 (semi-detached)
Indicative Price : (to be confirmed)
Developer : (Follow us to find out more)

DISCLAIMER: This article is solely based on research done using publicly available data. This is not an advertisement. Any claim, statistic, quote or other representation about a project or service should be verified with the developer, provider, or party in question.

About Maris @ Andaman Island

A freehold, 49-storey serviced apartment development by E&O Berhad on Andaman Island, marking the island’s first high-rise coastal development. Located along Gurney Green, the project offers views of Gurney Drive and convenient connectivity to Seri Tanjung Pinang, Gurney Drive and George Town, with essential amenities within approximately five minutes by car. The development comprises 516 fully furnished units across five layout types, with built-up sizes ranging from 979 to 1,356 sq ft, featuring two or three bedrooms and two bathrooms. Indicative prices start from RM950,000, offering residents a coastal lifestyle in one of Penang’s emerging waterfront destinations.

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