Eden at Botanica CT and AIA Pension and Asset Management Sdn Bhd (APAM) have entered into a Memorandum of Understanding (MoU) to introduce the integration of Private Retirement Scheme (PRS) solutions into a senior living offering, supporting greater financial preparedness for Malaysia’s ageing population. The collaboration reflects a growing focus on combining lifestyle and financial planning solutions, with PRS providing a structured approach to long-term retirement savings.

This collaboration reflects a growing trend to integrate retirement financial planning into senior living developments. Centred on the government-launched Private Retirement Scheme (PRS), it underscores the growing importance of planning for retirement in supporting Malaysia’s seniors with active, independent and financially secure ageing.

The collaboration comes as a timely, strategic move that responds to the country’s gradual transition towards becoming an ‘aged nation’, with 19.8% of the total population and 26.2% of Penang’s population projected to be aged 60 or above by 2040.

The signing ceremony saw the Memorandum of Understanding formalised by Dato’ Seri Kenny Ong, Director of Eden at Botanica CT Sdn Bhd and Group Chairman of MTT Group of Companies; representing Eden at Botanica CT, and Puan Nur Aini Ali Kasim, General Manager of APAM. The ceremony was witnessed by YB Puan Lim Siew Khim, Penang State Executive Councillor for Social Development, Welfare & Non-Islamic Religious Affairs; Mr. Leonard Theng, Group Property & Asset Director, MTT Group of Companies; alongside invited guests, partners and stakeholders.

The PRS solution provides a structured approach to long-term retirement savings and complements Eden at Botanica CT’s senior living offering by supporting residents’ financial preparedness. It combines healthcare, financial preparedness, lifestyle products and community care into a complete ecosystem to deliver sustainable retirement solutions.

Under the collaboration, purchasers receive a contribution of RM 25,000 from Eden at Botanica CT to be invested into AIA Pension and Asset Management’s PRS funds upon purchasing a residential unit at Eden at Botanica CT, which is set to complete in 2027 within the Botanica.CT township in Balik Pulau. Buyers will also obtain a complimentary Personal Accident (PA) insurance coverage as part of this collaboration, reinforcing a holistic approach to supporting wellbeing throughout retirement.

As rising medical costs become a growing concern, this collaboration supports individuals in buildinggreater financial resilience for retirement. By empowering their retirement aspirations, it ensures they are equipped to handle challenges that may arise in their golden years.

“Our ageing population is both a challenge and an opportunity to rethink what retirement living should look like. Eden at Botanica CT’s commitment extends beyond accommodation to building a holistic ecosystem that supports healthy and active ageing, enabling seniors to live independently, access the support they need and enjoy greater peace of mind in their retirement years,” said Dato’ Seri Kenny Ong.

“Healthcare is a growing concern for seniors, which is why we continuously look to strengthen our care ecosystem. Through our partnership with APAM, innovation and undivided focus on our residents, we aim to play a key role in shaping the future of senior living while simultaneously helping Malaysians embrace retirement as a rewarding, enriching stage of life.”

Mr. Leonard Theng said: “This partnership is an important step towards advancing a more holistic approach to senior living. Beyond having a place to call home, proper retirement planning is becoming increasingly critical as people seek greater financial preparedness for their later years. Our scheme sets Eden at Botanica CT apart, and combined with our end-to-end approach, we hope to empower seniors to plan ahead, live independently and embrace retirement with greater confidence, security and peace of mind.

Puan Nur Aini Ali Kasim said: “Retirement is no longer something abstract or distant, Malaysia is moving steadily towards becoming an ageing society. APAM’s focus has always been on helping individuals build something progressively over time, through a structured and disciplined approach. What matters most to us is the role we play in helping individuals prepare, quietly, but meaningfully for the future.” She frames APAM’s philosophy as one rooted in long-term stewardship, an understated yet deliberate commitment to guiding individuals toward financial readiness over time, rather than chasing short-term outcomes.

“What makes PRS particularly important is the reality it addresses – many Malaysians risk outliving their savings. PRS was designed as a proactive solution.” Additionally, she continues, “We are extending complimentary personal accident coverage of up to RM250,000. It is about reflecting something we believe is important – that as individuals plan for the future, they should also feel protected in the present.” In doing so, she highlights that PRS is not merely a savings instrument, but a more holistic proposition, one that acknowledges both longevity risk and the immediate need for protection, reinforcing confidence for individuals at every stage of their financial journey.

Enabling buyers to own a unit rather than merely leasing one, is among the key aspects that differentiate Eden at Botanica CT from other retirement projects. Comprising 350 residential units, the development embraces a vibrant community that integrates home, wellness and meaningful connection. While the residence is primarily for those aged 60 and above, it welcomes secondary residents, including adult children below the age 60 to build an inclusive, dual-generational environment.

Further enhancing the resident experience, Eden at Botanica CT will also introduce a range of move-in-ready benefits designed to provide greater convenience and peace of mind for purchasers. Each unit will come fully fitted with kitchen cabinets and wardrobes, selected furnishings, including air-conditioning units and beds. This thoughtful approach enables residents to settle into their new homes with minimal hassle, allowing them to focus on enjoying an active and fulfilling retirement lifestyle from day one.

Residents also enjoy access to amenities that include lifestyle facilities, supplemented by licensed nursing care, 24-hour carers, smart safety & assisted living technology by Corricare Malaysia, bespoke wellness and activity programmes as well as optional on-demand services. To complete the entire health eco-system, there will also be a Care Residence nearby and a medical centre located within the wider Botanica.CT township.

To learn more about retirement at Eden at Botanica CT and how it offers quality living within a thriving community or to register your interest, please visit https://www.edenatbotanicact.com.my, email edenatbotanicact@gmail.com or call +6017-311 2699.

Construction of the Penang LRT Mutiara Line continues to gain momentum, with the latest aerial progress update as of 31 May 2026 showing significant activity along Segment 1 (CMC1 Package), which stretches from Komtar to Silicon Island. Multiple work fronts are now visible across the alignment, including piling works, pile cap construction, pier columns, and station structures. The Bandar Sri Pinang and Penang International Airport sections remain among the most advanced, with several piers already taking shape above ground.

The aerial photographs released by MRT Corp also highlight steady progress at key locations such as Macallum, Sungai Pinang, and Bayan Lepas, where heavy machinery and construction teams are actively carrying out foundation and substructure works. Temporary traffic management measures and work compounds have been established at several sites to facilitate the ongoing construction activities. As the project progresses, more elevated structures are beginning to emerge, providing a clearer picture of the future alignment of Penang’s first LRT system.

Check out the latest aerial photos below highlighting the station areas with significant construction activity.

 

*All photos are taken in May 2026

Image Source: MRT Corp Mutiara Line Website (https://laluanmutiara.mymrt.com.my/)

About Iconic Harmony

An affordable housing development by Iconic Maison Sdn. Bhd. at Alma in Bukit Mertajam, strategically located near the junction of Jalan Rozhan and Jalan Alma, just about 1km from AEON Mall and within minutes’ drive of a wide range of essential amenities. The development comprises a 36-storey condominium featuring 751 affordable housing units, each with a standard built-up area of 900 sq ft.

Find out more about Iconic Harmony

The Housing and Local Government Ministry will undertake a comprehensive review of the Certificate of Completion and Compliance (CCC) framework to support sustainable urbanisation and ensure the regulatory system remains responsive to evolving industry needs.

Minister Nga Kor Ming said the review will focus on reducing unnecessary bureaucracy, improving efficiency through digital integration, closing regulatory loopholes and enhancing service delivery, while continuing to safeguard public interests.

Speaking at the Malaysian Institute of Architects (PAM) President’s Awards and anniversary dinner, Nga announced that a dedicated task force would be established to assess the CCC framework, which was introduced in 2007 as part of a major reform of Malaysia’s building control system.

According to Bernama, the proposed reforms are aimed at creating a more transparent, efficient and business-friendly regulatory environment that promotes quality development and supports the growth of sustainable cities.

Nga highlighted that Malaysia now has more than 500 million sq ft of Green Building Index-certified buildings, describing the achievement as a testament to successful collaboration between the public and private sectors in advancing the Sustainable Development Goals (SDGs).

To ensure industry perspectives are incorporated into the reform process, the ministry will invite PAM to participate in the review, bringing professional expertise and practical insights to the table.

Nga also revealed that the ministry is studying a recent High Court decision allowing certified architects to submit applications for development orders. The move is expected to help streamline approval processes, reduce costs and cut red tape.

Earlier at the event, Nga received the prestigious PAM President’s Award in recognition of his efforts to strengthen collaboration between the government and the architectural profession. He is only the fifth recipient in the institute’s 102-year history.

S P Setia Berhad (“Setia” or “the Group”) today broke ground on its 509-acre Setia Fontaines Industrial Park in Bertam, Kepala Batas, marking a major milestone in the Group’s growth strategy and reinforcing Penang’s position as a future-ready investment destination. The ceremony was graced by YAB Dato’ Seri Utama Anwar Ibrahim, Prime Minister of Malaysia, and YAB Chow Kon Yeow, Chief Minister of Penang.

The event also saw the exchange of a Memorandum of Collaboration (MoC) between Setia Fontaines and the Northern Corridor Implementation Authority (NCIA) to explore the supply of green energy to the park, strengthening its appeal as a sustainability-led destination for businesses and investors.

Part of the 1,691-acre freehold Setia Fontaines township, the industrial park offers light industrial, medium industrial and commercial lots for a wide range of occupiers, from small and medium enterprises (SMEs) to larger enterprises. Its location provides strong connectivity to Penang Island, Bukit Mertajam, Seberang Jaya and Kulim, with direct access to the North-South Expressway.

Datuk Zaini Yusoff, President and Chief Executive Officer of S P Setia, said, “The groundbreaking of Setia Fontaines Industrial Park is a landmark moment for S P Setia and a strong signal of our confidence in Penang’s future. More than an industrial development, it reflects our vision to build a next-generation economic hub with world-class infrastructure for advanced manufacturing, digital infrastructure and high-technology industries in the Northern Region.”

“More importantly, this development reflects Setia’s capacity to translate national aspirations into tangible outcomes on the ground. In advancing the aspirations of Ekonomi MADANI, Setia Fontaines Industrial Park is designed to support innovation-led growth, strengthen industrial competitiveness and create broader economic participation across the value chain. From SMEs to multinational corporations, this development opens up meaningful opportunities for businesses to grow within a sustainable, future-ready ecosystem, underscoring Setia’s commitment to shaping progress that is both high-value and inclusive,” he said.

Ready supply of green electricity

Under the MoC, Setia Fontaines and NCIA will explore a Corporate Renewable Energy Supply Scheme (CRESS), enabling Setia Fontaines Industrial Park and its tenants to access green electricity via the national grid from regional renewable energy developers.

The collaboration highlights the value of public-private partnerships in advancing sustainable industrial development, supporting Malaysia’s low-carbon ambitions and enhancing Penang’s attractiveness to high-value investors.

Datuk Zaini said, “Demand across our industrial developments is increasingly shaped by occupiers’ sustainability requirements. This collaboration reflects Setia’s commitment to integrating sustainability into our industrial strategy while enhancing long-term competitiveness and value creation.”

Dato’ Mohamad Haris Kader Sultan, Chief Executive of the Northern Corridor Implementation Authority (NCIA), said: “The Special Renewable Energy Economy Zone (SREEZ) under the Northern Corridor Economic Region (NCER) is a demand-driven ecosystem that integrates renewable energy supply with committed industrial offtake to support bankable green investments.

“Our collaboration with S P Setia positions Setia Fontaines Industrial Park as an anchor green consumer, strengthening demand certainty and project viability. This enhances NCER’s attractiveness as a hub for sustainable industrial growth and supports the attraction of investments requiring low-carbon energy solutions,” he said.

Pipeline of 640 Affordable Homes

Setia Fontaines and Lembaga Perumahan Negeri Pulau Pinang (LPNPP) exchanged Memorandum of Agreement (MoA) documents for Pangsapuri Pinang Setia, comprising 640 affordable homes targeted for completion in 2029. Each 650-sq-ft unit will have three bedrooms and two bathrooms, and will be priced at RM42,000.

Pangsapuri Pinang Setia reflects Setia’s commitment to ensuring that the purpose of delivering sustainable communities and enriching lifestyles reaches more families across the Group’s townships. Residents will also benefit from the wider Setia Fontaines lifestyle ecosystem, including 37 acres of central parks and 63 acres of manmade lakes.

The affordable homes will also enjoy proximity to educational institutions such as Pusat Kanser Tun Abdullah Ahmad Badawi Universiti Sains Malaysia (USM), Universiti Teknologi MARA, Maktab Rendah Sains Mara and Kolej Matrikulasi Penang.

Expected to reach a population of 30,000 by 2041, Setia Fontaines aims to set a new benchmark for integrated development in northern Penang.

The Prime Minister toured the township’s 100-acre Heritage Park, home to the largest Musical Fountain in Northern Malaysia, interconnected islands with jogging and cycling tracks, and a Waterfront Lifestyle Centre.

Envisioned to drive socio-economic growth and create jobs, Setia Fontaines is set to contribute to both state and national aspirations of positioning Penang as a hub for investment and sustainable development.With a track record of delivering high-quality developments for more than 50 years, Setia is committed to its purpose of building sustainable communities with enriching lifestyles, showcased through sustainable homes and wide, open spaces across its townships.