08/04/2026

BIZ & FINANCE WEDNESDAY | APR 8, 2026

14

PJ mayor tells developers to build connectivity infra

Kenanga Investment Bank bullish on construction sector KUALA LUMPUR: Kenanga Investment Bank Bhd (Kenanga IB) remains bullish for the construction sector, underpinned by persistent demand for data centres and sustained capital expenditure commit ments from global technology firms through 2026. Kenanga IB said the positive outlook comes despite near-term geopolitical headwinds impacting profit margins and a slower-than-expected rollout of infra structure projects. It noted that rising diesel fuel costs are particularly challenging, as these are typically not pass-through expenses under existing contract agreements, leading to direct margin pressure. Conversely, certain material costs include pass-through clauses, allowing players to mitigate some of the inflationary pressure. It said that while contract awards reached near-record levels in 2024 and 2025, Kenanga IB is maintaining its RM180 billion projection for 2026, as data centre development continues to be the primary growth engine alongside ongoing public sector projects. “With a healthy pipeline of near-term awards and a development cycle extending to 2030, we expect data centre projects to remain the primary growth driver for the sector in 2026,” it said in a note yesterday. Major infrastructure works are in the pipeline, including the Penang LRT Package 2 and 3, Pan Borneo Phase 2, and various airport expansions, providing further earnings visibility. “Although the timing for MRT3, now with final approval from the Transport Ministry, remains unclear, several key projects are poised for near-term roll-out. “Additionally, the KL-Singapore High Speed Rail remains a medium-term catalyst,” it added. Hence, Kenanga IB is maintaining its ‘overweight’ call on the sector. – Bernama Ekuinas takes strategic minority stake in Ain Medicare PETALING JAYA: Ekuiti Nasional Bhd (Ekuinas) has invested in Ain Medicare Sdn Bhd, a Bumiputera homegrown manu facturer of sterile parenteral pharma ceutical products. The investment, made via Ekuinas’ RM1 billion Tranche IV Fund, will see Ekuinas acquire a strategic minority shareholding in the company. Ekuinas CEO Aliff Omar Mohamad Omar said, “Recognising healthcare as a priority industry for Ekuinas, the pharmaceuticals subsector plays a key role in higher-value industrial growth and national resilience. Ain Medicare has established itself as a homegrown leader in sterile parenteral products, with a proven 30-year track record, diversified customer base and strong R&D pipeline.” Ain Medicare operates seven manufacturing facilities in Kota Bharu and Kulim. Chairman Datuk Wan Ariff Wan Hamzah said, “This partnership with Ekuinas marks an important milestone for Ain Medicare. With their capital and institutional expertise, we are poised to accelerate our strategic growth plans. We are focused on specialised generics and advanced injectables to tap into the growing Small Volume Injectable segment, as well as widening our inter national footprint.”

He said the initiative aligns with MBPJ’s aspiration to strengthen TOD and encourage a shift towards public transport as the primary mode of urban mobility. The 320-metre covered elevated bridge connects Damansara Avenue to the Sri Damansara Sentral MRT station on the MRT Putrajaya Line, improving accessibility for residents, tenants and commuters while integrating the development into the Klang Valley’s rail network. The infrastructure forms part of TA Global’s broader plan to position Damansara Avenue as a TOD, with a total estimated gross development value (GDV) of RM10 billion across its 48-acre site. The MRT Putrajaya Line provides direct connectivity to key destinations including Ampang Park, Persiaran KLCC, the Tun Razak Exchange, Cyberjaya and Putrajaya, as well as interchange access at Sungai Buloh to the MRT Kajang Line. Key components within the development include the Ativo Annexe phase, with a GDV of about RM3.08 billion across 14.87 acres, comprising retail, medical, residential and office elements, targeted for completion in 2028. Other components include Amaya Residences (GDV RM1 billion), The Arden office suites (GDV RM446 million), and DA Central Mall, which will offer about 420,000 sq ft of net lettable area.

o Local authority reviews proposals to ensure they are aligned with public transport needs, links planning approvals to higher plot ratios

connects the Sri Damansara Central MRT station to Damansara Avenue, enhancing public transport connectivity and urban mobility in Petaling Jaya, and is expected to enliven the surrounding area. He added that high-impact infrastructure development such as this serves as an important catalyst towards building a vibrant, efficient and sustainable city, reflecting a continued commitment to strengthening an inclusive urban mobility network. “It not only improves access to public transportation but also supports efforts to create a pedestrian-friendly and transit-oriented urban environment.” Mohamad Zahri said strategic collaboration between the local authority and the private sector is crucial in ensuring the implementation of comprehensive infrastructure development that delivers direct benefits to the community. “This synergy enables the delivery of higher quality public amenities while enhancing the safety of Petaling Jaya residents.” The link bridge operates fully as a pedestrian walkway, providing direct access to the MRT network and strengthening connectivity between surrounding developments and the existing public transport system. From a technical perspective, Mohamad Zahri said, its construction involved complex engineering challenges as it spans several major routes, including the Damansara-Puchong Expressway, Jalan Kuala Selangor and the Duta Ulu Klang Expressway 2, reflecting careful planning and execution.

Ű BY HAYATUN RAZAK sunbiz@thesundaily.com

KUALA LUMPUR: Majlis Bandaraya Petaling Jaya (MBPJ) is encouraging developers to build connectivity infrastructure by linking planning approvals to higher plot ratios, allowing greater development intensity, as part of its push for transit-oriented development (TOD). Petaling Jaya mayor Datuk Mohamad Zahri Samingon said the local authority reviews development proposals to ensure they are aligned with public transport connectivity, including links to mass rapid transit (MRT) stations and other transit nodes. “We assess how developments should be connected to public transport, and where necessary, we propose that developers incorporate infrastructure such as link bridges,” he told reporters at the opening of TA Global Bhd’s Damansara Avenue Link Bridge yesterday. In return, developers that implement such proposals may be granted higher plot ratios, allowing them to build more units or floors. “This creates a win-win situation, where the cost of infrastructure can be offset through increased development value,” said Mohamad Zahri. The approach reflects MBPJ’s broader push to improve urban mobility while promoting a more integrated, pedestrian-friendly and transit-linked urban environment. Mohamad Zahri said the newly opened 320 metre Damansara Avenue Link Bridge directly PETALING JAYA: Equalbase and Sunway Group have officially opened 103°, a 55-hectare Free Commercial Zone (FCZ) in Sunway City Iskandar Puteri, Johor. Its first two warehouses, spanning 1.5 million square feet, are completed and fully leased by international operators, such as DSV (global transport and logistics company), which have already commenced operations. 103° is the first sustainable FCZ established within the Johor-Singapore Special Economic Zone (JS-SEZ). It is also the first development in the region to receive fast-track approval from Malaysian authorities under the Johor Super Lane Framework. A third warehouse of 750,000 square feet in Phase One is targeted for completion in early 2027. Another one million square feet will be completed in early 2028. The broader FCZ master plan will ultimately deliver more than six million square feet of integrated industrial real estate across four phases. Located at the intersection of Malaysia and Singapore, 103° FCZ sits within one of Southeast Asia’s most closely watched economic gateways. Companies are increasingly reassessing how they structure regional distribution as global trade conditions evolve. This cross-border location allows businesses to operate across both markets while maintaining proximity to major manufacturing, trade and logistics networks across Southeast Asia. Future phases of 103° FCZ are being accelerated to meet this growing demand, further cementing Malaysia’s position as a high

TA Global said the pedestrian network will be expanded in future phases, including extensions towards DA Central Mall, further strengthening the development’s positioning as a fully integrated, transit-linked destination. Mohamad Zahri said the initiative aligns with MBPJ’s aspiration to strengthen TOD and encourage a shift towards public transport as the primary mode of urban mobility. The bridge took 18 months to complete at a cost of RM18 million. 103° FCZ opens, a boost for JS-SEZ logistics corridor

The 103° is the first sustainable FCZ established within the Johor-Singapore Special Economic Zone value regional distribution hub.

creating high-value job opportunities and supporting the New Industrial Master Plan 2030,” said Equalbase CEO Nicholas Bischoff. Iskandar Sunway City Iskandar Puteri CEO Gerard Soosay said that as the JS-SEZ gains momentum, global operators are looking to establish their presence within this cross-border growth region. “Through our partnership with Equalbase, we are introducing world-class and ESG-compliant logistics infrastructure that complements the merger of businesses, talent and communities within the township.”

“As supply chains internationally adjust to uncertainty, sustainable and resilient logistics infrastructure becomes increasingly important. We are appreciative of our customers for their confidence in this project and for our valued partnership with Sunway Group in bringing this vision to life. The opening of 103° FCZ reflects how collaboration can deliver infrastructure that supports the next stage of regional trade growth. This development supports the next stage of Malaysia’s industrial evolution by