17/12/2025

BIZ & FINANCE WEDNESDAY | DEC 17, 2025

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OMS Group marks keel-laying of two state-of-art cable-laying vessels in Vietnam PETALING JAYA: OMS Group, a provider of subsea digital infra structure solutions, yesterday achieved another major milestone with the keel-laying ceremony for its two state-of-the-art cable-laying vessels, CS Genesis and CS Triumph , at the Pacific Shipbuilding JSC shipyard in Haiphong, Vietnam. The ceremony signified the formal commencement of hull assembly – a key phase in ship construction – for the first two vessels under OMS Group’s strategic fleet expansion pro gramme. Developed in collaboration with Royal IHC, a global leader in maritime technology, these vessels form the foundation of OMS Group’s new G (Great)-Class fleet. “This moment symbolises pro gress, the physical rise of our future fleet. CS Genesis and CS Triumph represent our commitment to inno vation, operational independence, and global resilience in subsea connectivity. “As subsea cables continue to carry over 95% of the world’s data, these vessels will be critical to streng thening the backbone of inter national digital infrastructure,” said OMS Group founder and chairman Datuk Lim Soon Foo. With demand for advanced submarine cable systems accelerating across Asia-Pacific and beyond, OMS Group is investing in assets designed to deliver enhanced capability and sustainability across the full lifecycle of installation and maintenance operations. OMS Group CEO Ronnie Lim said the vessels will allow them to better serve hyperscalers, carriers, and governments as digital infrastructure demand continues to surge. “We are not just building ships, we are building the future of con nectivity,” he added. CS Genesis and CS Triumph are scheduled for delivery in 2027. They will be entering service to support the growing global subsea cable pipeline and strengthening regional network resilience.

Mesiniaga wins RM19.8m contract from Education Ministry KUALA LUMPUR: Information laptops, multifunction

share capital and substantial shareholders’ shareholdings of the company. It is expected to contribute positively to the group’s earnings and net assets for the financial year ending Dec 31, 2026 onwards until the completion of the contract,” it added. – Bernama

months effective from Jan 1, 2026, and will be completed by May 31, 2031, it said in a filing with Bursa Malaysia yesterday. Mesiniaga noted that there is no automatic renewal clause in the contract. “The contract will not affect the

colour printers, projectors and charging carts on lease-to-use basis to support teaching and learning requirements in schools’ computer labs. The contract, which covers Zone 7 (northern Sarawak), is for 65

technology service management company Mesiniaga Bhd has bagged a RM19.82 million contract from the Education Ministry. The Main Market-listed company said the contract is for the fourth phase of the rental services of

M’sian property market displays resilience in 2025

and Developers’ Association Malaysia (Rehda) expects stable, sustainable growth for the Malaysian property industry in 2026, with a landscape that supports genuine demand while reducing and effectively eliminating speculative activity. “In addition, Johor is poised to benefit from heightened con nectivity via the Johor Bahru– Singapore Rapid Transit System, the Johor–Singapore Special Economic Zone and the elevated Autonomous Rapid Transit. “Penang will see transit oriented growth with the Light Rail Transit Laluan Mutiara and Juru-Sungai Dua Elevated High way, while nationwide projects like the East Coast Rail Link and Mass Rapid Transit 3 expected to catalyse demand,” said Rehda. It added that key policy reforms, such as Madani Housing Reforms in January 2026, inclu ding the new Real Property Development Act, aim to streng then governance. On the 2026 outlook, Rehda said, it remains cautiously opti mistic about the property in dustry, although the year may introduce uncertainties for de velopers. For instance, it said, stamp duty for foreign residential ownership will rise from four per cent to eight per cent, potentially cooling speculative demand. Housing

“That includes tax relief on loan interest and the Step-Up Financing Scheme under the Housing Credit Guarantee Scheme, which provided crucial stimulus for homeownership, particularly among first-time buyers,” it said. The property market recorded a 12.5% rise in transaction value to RM64.39 billion, reflecting stronger demand in higher-value segments, while transaction volume fell 3.5% to 108,250 properties in Q3 2025. The Malaysian House Price Index stood at 229.1 points, with an average price of RM494,384 per unit, representing a marginal annual growth of 0.1%. New residential launches fell to 11,533 units, with a modest sales performance of 14%. Despite market growth, unsold completed residential properties rose to 28,672 units valued at RM17.25 billion, while unsold serviced apartments reached 17,892 units worth RM14.48 billion. “As for construction activities, development completions showed positive growth, but new starts and planned supply declined, sig nalling cautious sentiment among developers,” said JPPH. As for the commercial segment, shopping complexes recorded an occupancy rate of 78.6%, up from 77.6% in 2024, while purpose-built offices remained stable at 71.9%. In light of these initiatives and announcements, the Real Estate

“Rehda stronger emphasis on environmental, social and governance com pliance and sustainable develop ment, alongside urban renewal initiatives such as redevelopment of housing over 50 years old, particularly in Selangor,” it said. Meanwhile, JPPH said the property market is expected to stay positive, with cautious optimism as industry players anti cipate genuine demand to drive growth while speculative activity is curbed. “With Visit Malaysia Year 2026 and enhancements to the Malaysia My Second Home Programme, demand for premium residential properties and serviced apartments in key cities is also projected to rise,” it said. Besides, government support remains crucial, particularly with the affordable housing push under which the government targets the construction of one million affordable homes between 2026 and 2035 through programmes such as Residensi Rakyat, Residensi Madani , Rumah Mesra Rakyat and PR1MA, it added. In September, Finance Minister II Datuk Seri Amir Hamzah Azizan expressed optimism that the country’s real estate sector would extend its recovery momentum and continue to absorb global economic challenges through continued government support. – Bernama foresees

KUALA LUMPUR: Malaysia’s pro perty market registered moderate growth momentum in 2025 as it continued to navigate global economic uncertainties with resilience. According to the Valuation and Property Services Department’s (JPPH) property market report for the first half of 2025 (H1’25), Malaysia’s property market softened in the first six months of the year as transaction volume fell, while housing developers withheld launches amid modest sales and a rising overhang situation. Volume slipped 1.3% to 196,232 transactions in H1’25 compared with the same period in 2024. Transaction value, meanwhile, rose 1.9% year-on-year to RM107.68 billion. As for the third quarter of the year, JPPH said, transaction value expanded despite a contraction in transaction volume, underscoring the sector’s cautious but steady performance. This was supported by the government’s measures under the Madani Economy framework and Budget 2025. o JPPH cautiously optimistic on prospects for 2026

BPMB formalises financing deal for Coronation Square public infra works PETALING JAYA: Bank Pembangunan Malaysia Bhd (BPMB) yesterday formalised a RM97.63 million term financing-i facility with Coronade Properties Sdn Bhd to fund public infrastructure works for Coronation Square, an integrated mixed-use development, designated by the state government as the catalyst development of the Ibrahim Inter national Business District. apartments, office towers, medical suites, a hotel and retail offerings, Coronation Square is envisioned as a vibrant destination that boosts commercial activity and enhances the overall liveability of Johor Bahru. BPMB group corporate and invest Coronade Properties CEO Kok Wai Sing said Coronation Square is designed as a catalyst for Johor Bahru’s regeneration, combining modern infrastructure, enhanced connectivity and vibrant community spaces.

He added that BPMB’s support enables them to deliver essential infrastructure that will improve accessibility, encourage public transit use and strengthen Johor Bahru’s evolution into a globally connected metropolis. The project’s public infrastructure components, including the elevated walkway, road upgrades, reinforced earth structures and a flyover, are expected to improve traffic flow, enhance pedestrian access and foster a more sustainable urban transport ecosystem.

ment banking managing director Wee Yee Tat said, “This project reflects BPMB’s commitment to funding high impact infrastructure that strengthens economic fundamentals while pro moting sustainable and accessible mobility. “Coronation Square’s strategic integration with the RTS Link positions it as a transformative development for Johor Bahru, and we are proud to support infrastructure that will benefit communities, busi nesses and commuters for decades to come.”

Located along Jalan Trus and Jalan Abdullah Ibrahim, Coronation Square is designed to enhance connectivity and anchor Johor Bahru’s trans formation into a more walkable and economically vibrant urban hub. The development is projected to generate more than RM9 billion in economic spin-offs and create up to 60,000 jobs throughout its lifespan. With components including serviced

From left: Kok, Coronade Properties public relations director Datin Paduka Alinah Ahmad, BPMB group head of coverage Gerald Goh and Wee at the signing of the financing facility.