26/05/2025

BIZ & FINANCE MONDAY | MAY 26, 2025

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Exploring opportunities in Malaysia and Australia

supports companies entering and scaling within the region – while contributing to Malaysia’s role as a regional hub for innovation and sustainable industry.” Located in the heart of the Integrated Development Region in South Selangor, NSIP is Malaysia’s first Managed Industrial Park, setting a new benchmark for smart, bankable industrial development in Asean. With its focus on advanced technologies and sustainable practices, NSIP is emerging as a catalyst for next generation industrial growth. Time maintains steady momentum in first quarter TIME dotCom recorded steady performance for the quarter ended March 31, 2025, reflecting continued resilience in a dynamic market landscape. For the period under review, the group reported consolidated revenue of RM428.6 million, a 2.6% increase year-on-year, supported by sustained demand for data and connectivity solutions and driven by the retail segment. Time posted a consolidated profit after tax from continuing operations of RM112.3 million for the quarter. While revenue saw an uplift compared to the same period last year, profit remained steady, reflecting lower contributions from investment and interest income as well as net foreign exchange losses as opposed to foreign exchange gains in the same period last year. Excluding foreign exchange movements, the group would have registered a profit after tax growth of 6.0% year-on-year. “We’re cautiously optimistic as we navigate 2025. While the industry continues to evolve, we remain focused on what matters most – delivering reliable services, enhancing the customer experience and strengthening our core capabilities,” said Time dotCom commander-in-chief Afzal Abdul Rahim. The group remains focused on sustainable long-term growth by strengthening its core connectivity business. This includes ongoing investments to expand network coverage, sharpen go-to-market execution and deliver customer centric solutions built on a solid track record. Time also continues to embed sustainability across its operations while scaling up its renewable energy initiatives in response to evolving market opportunities. To safeguard its growth trajectory and ensure business resilience, the group will continue to pursue operational efficiencies and remain agile in navigating an ever-changing domestic and global landscape, proactively managing emerging risks and opportunities. SHAH ALAM:

creation momentum across our core segments through our integrated business model.” “While we are keeping a very close eye on the external headwinds that may impact the domestic construction and property market, we remain optimistic of Sarawak’s growth potential that is powered by strategic government initiatives and continued investments in infrastructure and technology,” he added. most and sustainable industrial zones,” Eco World International CEO Datuk Teow Leong Seng said. “We look forward to working with JLG to create opportunities that attract high-value industrial players. The framework agreement creates a platform for us to explore how we can pool our combined capabilities, strengths, and resources to capture a larger share of the rapidly growing demand in the Johor-Singapore Special Economic Zone and Iskandar Malaysia as a whole.” Down south in Australia, EWI’s site is located at 1-3 Lachlan Avenue, Macquarie Park, approximately 18km from Sydney’s central business district. “EWI has five unlaunched sites in UK and Australia. Years of significant undersupply in new housing have led to strong rental demand for residential properties. As central banks globally begin to normalise interest rates, investors’ yield expectations should moderate and homebuying activity is also expected to recover eventually,” said Teow. “Depending on market conditions and project feasibility, these sites may be developed as build-to-sell, build-to-rent or student housing in line with current market needs. “With JLG’s interest in Macquarie Park, Australia, we hope to bring our projects to market sooner to meet this anticipated demand.” Akmal said: “Macquarie Park offers more than just access to a mature market; it represents an opportunity for JLG to bring our integrated, humancentric development approach into a new context.” prominent smart

o JLand Group and Eco World International sign framework agreement KUALA LUMPUR: JLand Group (JLG), the real estate and infrastructure arm of Johor Corp (JCorp), and Eco World International Bhd (EWI), have signed a framework agreement to explore joint real estate development opportunities in Malaysia and Australia. This agreement reflects a shared ambition to unlock strategic value across both markets, leveraging the strengths of two forward-looking development platforms. The non-binding agreement, executed via JLG Investment Holdings Sdn Bhd, sets the stage for both parties to jointly assess high-potential projects and explore suitable partnership structures for sites owned or identified by either party. In a statement, JLG said this engagement brings together the global reach of EWI and the rising regional influence of it. JLG has expressed interest in EWI’s residential site at Macquarie Park – a prime location 18km from Sydney’s CBD. In turn, EWI is exploring participation in a proposed 300-acre industrial development within Ibrahim Technopolis (IBTEC), JLG’s flagship integrated township in Sedenak, Johor. Located within the Johor-Singapore Special Economic Zone (JS-SEZ),

(From left) Akmal, JLand Group property development managing director Zamri Yusof, Teow and Eco World International chairman Cheah Tek Kuang.

collaboration here in Johor,” said JLand Group managing director Datuk Akmal Ahmad. “We remain firmly focused on our core mission to drive high-impact, sustainable development locally, and continue creating investor-ready ecosystems that attract the confidence of listed partners with international reach like EWI. “This potential partnership reflects our commitment to scale with the right collaborators who shareour long-term vision, values, and execution discipline.” For EWI, the framework agreement represents an entry into Malaysia’s high-growth real estate sector – aligning with its strategy to diversify earnings and tap into nearer-term revenue opportunities. “We are equally excited about the opportunity to participate in a strategic development within IBTEC, which is already among the country’s

IBTEC is supported by over RM34 billion in committed investments. This mutual interest underscores the strategic alignment between both organisations – combining EWI’s international development experience with JLG’s ambition to scale its proven development capabilities across the region. IBTEC’s inclusion reflects growing recognition of JLG’s ability to deliver catalytic, investor-ready ecosystems that support both national priorities and cross-border investment potential. Likewise, JLG’s interest in Macquarie Park builds on its earlier residential entry into Brisbane and marks a deepening of its presence in Australia. “This framework agreement marks the next chapter in our deliberate regional growth strategy. Macquarie Park presents an opportunity to build on the momentum we’ve established in Australia, while IBTEC offers a compelling platform for global

Ibraco off to strong start with 164% Q1 profit surge KUCHING: Ibraco Bhd, a property and construction developer in Sarawak, delivered a strong start to the financial year with revenue of RM184.05 million for the first quarter ended March 31, 2025 (1Q2025). strength of the group’s construction segment, which contributed RM110.31 million or approximately 60% of total revenue in 1Q2025. RM42.16 million in 1Q2024. The group’s Profit After Tax (PAT) for the quarter surged to RM14.81 million, reflecting a 164% increase compared to RM5.61 million in the corresponding quarter last year.

This was supported by progressive revenue recognition from several ongoing government infrastructure projects. Meanwhile, the property segment also recorded strong quarter-on quarter growth, with revenue rising to RM63.84 million in 1Q2025 from

Group managing director Datuk Chew Chiaw Han said: “We are off to a strong start for FYE2025 and this is a reflection of the positive operating landscape and the group’s continued focus on driving tangible value

This represents a 130% increase compared to revenue of RM80.14 million recorded in the same quarter of the previous year (1Q2024). The significant top-line growth was primarily driven by the continued

NCT partners Canadian VC firm to fuel startups at NSIP PETALING JAYA: In a strategic move to accelerate industrial innovation and economic transformation, a Canadian venture capital firm, Intrinsic Venture Capital, has partnered with Malaysia’s Invest NCT Programme under NCT Group of Companies. industries at the NCT Smart Industrial Park (NSIP), under the theme “New Money for New Industries.” The fund targets strategic sectors including semiconductors, medical technology, electronics, green technology and digital infrastructure, positioning NSIP as Southeast Asia’s leading hub for smart industrial transformation. infrastructure, and market entry strategies within NSIP supporting the development of a next-generation, digitally connected industrial eco system aligned with Malaysia’s National Industrial Master Plan 2030 (NIMP 2030) and Industry ESG 4.0 standards. and digital capabilities, we are not only strengthening NSIP’s value proposition as an investment-attractive industrial hub, but also reinforcing our commitment to sustainable and innovation-led development.”

Intrinsic EO chairman Andrew Sanden commented: “This partnership allows us to bring our international experience in market expansion, cross border investment, and digital trans formation to a strategic location in Southeast Asia.Together with NCT Group, we aim to build a smart, connected industrial environment that

The partnership aims to leverage Intrinsic Venture’s RM615 million (C$200 million) fund to catalyse innovation, smart industry growth and global market integration from Malaysia. The initiative aims to empower high-growth startups and advanced

“This strategic partnership with Intrinsic EO opens exciting possibilities for NSIP and Malaysia’s industrial landscape,” said NCT Group founder and group managing director, Datuk Sri Yap Ngan Choy. “By tapping into global expertise

The initiative is further reinforced through the signing of a memo randum of understanding between NCT Group and Intrinsic EO, a global cross-border financial consultancy to integrate global finance, digital