21/08/2025

BIZ & FINANCE THURSDAY | AUG 21, 2025

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Astaka launches RM1.2b project with CapitaLand

Aeon, Aeon Credit to build future-ready data ecosystem KUALA LUMPUR: Public-listed companies under the Aeon Group – Aeon Co (M) Bhd (Aeon) and Aeon Credit Service (M) Bhd (Aeon Credit) – have formalised a strategic joint venture (JV) to establish a new entity that will drive the integration of customer membership, data intelligence and digital engagement across the Asean ecosystem in Malaysia. With the required regulatory approvals, the JV will be jointly owned by Aeon Credit (51%) and Aeon (49%), with an initial paid-up capital of RM50 million. The JV is set to become a centralised orchestration layer that brings together customer engagement, digital media, data analytics and marketing solutions across retail, finance, digital and lifestyle touchpoints within the Aeon ecosystem. “This JV unlocks the true ecosystem synergy – bringing together retail, financial services and digital capabilities to create seamless added value for our customers,” said Aeon Credit managing director Daisuke Maeda. With Aeon Bank joining the synergy as the JV’s official bank, he added it strengthens their shared commitment to digital innovation and data-driven growth. He said Aeon Bank will also support Aeon partners through business banking solutions, complementing the JV’s role in driving platform partnerships that benefit all Aeon Group’s customers. Beyond customer benefits, the new entity will also act as a commercial data and marketing exchange hub, enabling Aeon Group companies and partners to engage with Aeon’s large customer base with greater relevance and impact. “By aligning our retail scale with Aeon Credit’s digital and financial infrastructure, we are co-creating an intelligent membership ecosystem designed to grow with our customers,” said Aeon managing director Naoya Okada. “This JV is a cornerstone of our long-term digital transformation and group synergy strategy.” As part of its development, the JV will unify data and membership management across Aeon’s entities – namely Aeon, Aeon BiG Sdn Bhd, Aeon Credit, and Aeon Bank Bhd, establishing a foundation for deeper ecosystem integration and shared value creation.

JOHOR BAHRU: Astaka Holdings Ltd, an integrated property developer based in Johor, has launched a RM1.2 billion GDV mixed-use project featuring a lifestyle retail mall, located next to its upcoming residential skyscraper, Arden @ One Bukit Senyum (Arden). It will also partner with CapitaLand Investment Ltd (CLI), a global real asset manager with a network of more than 70 malls across Singapore, Malaysia and China, to shape its retail strategy. On Aug19, Astaka and CLI formalised their partnership through the signing of a Retail Advisory Service Agreement, witnessed by Johor Menteri Besar Datuk Onn Hafiz Ghazi. As part of the partnership, CLI will provide retail advisory support to Astaka covering asset planning, pre-opening, and post-opening stages of the project. The event also witnessed the unveiling of the master plan for Phase 3 of the One Bukit Senyum integrated project. Phase 3 of the project, which includes the mixed-use development, as well as the previously announced Arden development, is expected to have a total GDV of RM2.1 billion. The overall One Bukit Senyum project – including Phase 1, Phase 2 and Phase 3 – has an estimated GDV of RM3.6 billion. Barring any unforeseen circumstances, the Retail Advisory Service Agreement is not expected to have a material impact on the net tangible assets and earnings per share of the group throughout the duration of the project. Astaka Holdings Ltd executive director and CEO Allen Khong said: “Over the past decade, Astaka has been at the forefront of many transformative real estate projects in Johor Bahru, particularly through our flagship development One Bukit Senyum . We have long o Singapore retail advisory group to steer retail strategy as Johor developer unveils Phase 3 of One Bukit Senyum

Singapore-Johor partnership takes Phase 3 of One Bukit Senyum to next level with a lifestyle mall, luxury residences, and a 5-star hotel.

hydro), battery energy storage systems and transmission projects with collectively over 3GW of renewables in various stages of deployment. “Our expertise in delivering utility-scale solar farms – ranging from over 100MW projects in Malaysia to significantly larger projects abroad – combined with our exclusive partnership with Guthrie, who holds the largest nationwide landbank for RE deployment, uniquely positions our JV to provide renewable energy solutions at scale for our multinational partners. Our end-to end delivery will be supplemented by our strategic stake in ERS Energy with their strong solar EPCC track record across the Philippines, Vietnam, Singapore, Australia and of course, in our home country Malaysia,” said Faris. business ecosystem.” Phase 3 of One Bukit Senyum is the third and final phase of One Bukit Senyum , an integrated development that was first unveiled in 2014. Phase 3A is Arden, a residential skyscraper project with a GDV of RM800 million. Arden was officially launched in March 2025 and has since achieved a take up rate of 80%. Construction of Arden began in May 2025 and the project is expected to be completed by 2030. Phase 3B will comprise a lifestyle retail mall with 300,000 sq ft of net lettable area, a 250 room 5-star hotel and branded residential component with 300 units. Construction of Phase 3B will commence in 2026, with completion also slated for 2030. Phase 3B has an estimated GDV of RM1.2 billion. Phase 3C is expected to comprise a sales gallery and a dining location featuring international F&B brands. Construction of Phase 3C will commence at a later date.

held a vision for a new central business district in Johor Bahru that will be a world-class residential, commercial, retail and leisure destination. With the development of the third and final phase of One Bukit Senyum , we will fully realise this vision and play a key role in the transformation of Johor Bahru into a vibrant, prosperous city.” He added their partnership with CLI, which manages over 70 malls in China, Malaysia and Singapore, further positions them for success. Onn Hafiz said: “This partnership between Astaka and CLI, two prominent companies from Johor and Singapore, aligns with the Johor state government’s efforts to drive increased cross-border business collaboration. We look forward to more private sector partnerships that will boost cooperation between Johor and Singapore across economic sectors – ultimately supporting the success of the JS-SEZ, delivering mutual growth and strengthening the regional

SD Guthrie, Gamuda to develop 1.2GW of solar renewable energy assets PETALING JAYA: SD Guthrie Bhd and Gamuda Energy Sdn Bhd have entered into a collaboration agreement to develop, own and operate solar power assets (including energy storage systems) with an accumulated target capacity of 1.2GW. The collaboration leverages Guthrie’s vast and strategically located land bank across Malaysia, and Gamuda’s proven experience and technical expertise in delivering a growing 3GW pipeline of renewable energy (RE) projects across the Asia Pacific. data centre players in Malaysia. Guthrie Group managing director Datuk Mohamad Helmy Othman Basha said: “Renewable energy is one of two new business verticals that we have identified as a growing pillar of Guthrie’s future. It is critical, both as a new and sustainable revenue stream, and for our net-zero target. At a national scale, it will help to advance Malaysia’s efforts to decarbonise its electricity sector.” Power Programme (CGPP) solar plant in Bukit Selarong, Kedah targeted to begin operations in the fourth quarter of 2025, he said this partnership is an opportunity to create value by meeting renewable energy demand from both public and private sector users under frameworks such as the Corporate Renewable Energy Supply Scheme. The solar assets will further enhance the long-term value of Guthrie’s land portfolio.

Gamuda Engineering executive director Faris Mohd Yusof remarked that they are focused on growing their renewable energy infrastructure portfolio, particularly in Malaysia and Australia, across different renewable asset classes including solar, wind, hydro (including pumped

With Gamuda, he added they are continuing their strategy of partnering with established and experienced players to provide a strategic pathway for Guthrie to accelerate their expansion into these new verticals. With Guthrie’s first 15MW Corporate Green

With this synergy, the partners aim to capitalise on the surging demand for RE from high-quality offtakers, offering fast-tracked scalable RE supply, which will be critical to meet the sustainability objectives of industrial and

Wintech expands smart office portfolio with AI, analytics KUALA LUMPUR: Metal fabrication and workspace solutions company Wintech Metal Processing Sdn Bhd, one of the participants at Expo 2025 Osaka in Japan, plans to expand its smart office portfolio with artificial intelligence (AI)-driven occupancy insights, advanced analytics, and customisable acoustic designs. Marketing director Dixon Loong said the future of work is all about adaptability. “We’re building solutions that combine design, technology, and data while staying deeply human-centered,” he said in a statement yesterday. Through its presence at Pavilion Malaysia, Wintech has shown that the future of work is not just about technology, but about harmony between people, spaces, and the planet. “Believe in your capabilities and invest in

WINPOD acoustic pods and smart office systems at the expo. The pods, crafted with recyclable materials and natural finishes, offer quiet sanctuaries within noisy, fast-paced environments. “Many of those who experienced Wintech’s pods at Pavilion Malaysia, from Pavilion staff to stakeholders and partners, had a consistent and memorable reaction,” said Loong. – Bernama

showcasing what makes you different. The world is constantly seeking fresh ideas and Malaysia has plenty to offer,” he said. Loong said the company has positioned itself not only as a business success story but as part of Malaysia’s collective narrative at Expo 2025 Osaka: a nation weaving innovation, sustainability, and identity into a future shared with the world. He said the company is displaying its