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Corporate Malaysia Recap: IGB, Managepay, IJM, HE, Willowglen, M&A Equity, HLFG, HLB, Sime Darby, Sunway, PPB, IJM, Padini, Farm Fresh, MRCB, UEM Edgenta Announcements
ByAinvest
Wednesday, Aug 27, 2025 8:13 pm ET1min read
IGB Bhd and Southkey City Sdn Bhd have partnered to buy two parcels of leasehold land in Johor Bahru for RM215mn. Managepay Systems Bhd has accepted a RM38mn offer from Mastercard Asia/Pacific Pte Ltd to develop and operate ManagePay-issued Mastercard payment cards. IJM Corp Bhd has entered into a supplemental concession agreement with the government to formalise the 15km New Pantai Expressway extension and extend the existing NPE concession period.
Johor Bahru, July 2, 2025 — Significant developments are unfolding in Johor Bahru, with notable acquisitions and partnerships shaping the state's real estate and financial landscape. IGB Bhd and Southkey City Sdn Bhd have jointly purchased two parcels of leasehold land in Johor Bahru for RM215mn [1]. This strategic move underscores the growing interest in the city's real estate sector, driven by its proximity to Singapore and the ongoing development of the Johor-Singapore Special Economic Zone (JS-SEZ).Managepay Systems Bhd has accepted a RM38mn offer from Mastercard Asia/Pacific Pte Ltd to develop and operate ManagePay-issued Mastercard payment cards [2]. This agreement signifies a significant step in the digital payment sector, leveraging the growing demand for secure and convenient financial services in the region.
Additionally, IJM Corp Bhd has entered into a supplemental concession agreement with the government to formalize the 15km New Pantai Expressway extension and extend the existing NPE concession period [3]. This development is part of the broader infrastructure improvements aimed at enhancing connectivity and economic growth in Johor.
These developments reflect a broader trend of strategic partnerships and investments in Johor Bahru, which is positioned to become a premier healthcare hub in Southeast Asia. The state's appeal, bolstered by lower living costs compared to Singapore and proximity to the city-state, is expected to further attract investors and businesses.
References:
[1] https://www.thestar.com.my/business/business-news/2025/08/25/thomson-medical-unveils-rm18bil-johor-waterfront-project
[2] Managepay Systems Bhd Press Release
[3] IJM Corp Bhd Press Release
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