“MRCB partners with Ipoh Sentral Sdn Bhd for a RM6.25 billion transit-oriented development in Ipoh, integrating modern transport and urban living to enhance connectivity and quality of life.“
Kuala Lumpur, 23th Jan 2025, 03.32pm – Malaysian Resources Corporation Bhd (MRCB), through its wholly owned subsidiary Country Annexe Sdn Bhd, has signed a memorandum of agreement (MOA) with Ipoh Sentral Sdn Bhd (ISSB) to develop the Ipoh Sentral project, a landmark transit-oriented development (TOD) in Perak.
In a Bursa Malaysia filing, MRCB disclosed that the project is estimated to have a gross development value (GDV) of RM6.25 billion. It aims to integrate modern transportation infrastructure with mixed-use facilities to elevate connectivity and enhance the quality of life in the region.
“This TOD will not only act as a state-of-the-art transportation hub, connecting various transit systems, but it will also contribute to community enrichment by combining residential, commercial, and recreational spaces,” the company said.
ISSB, MRCB’s partner in this venture, is a joint venture entity owned by Railway Assets Holding Sdn Bhd (a subsidiary of Railway Assets Corporation) and Silver Smart Sdn Bhd, which is wholly owned by the State Secretary, Perak (Incorporated).
MRCB stated that the MOA is not expected to have any material impact on the group’s net assets or earnings for the financial year ending Dec 31, 2025.
The Ipoh Sentral project aligns with MRCB’s commitment to delivering transformative TODs that integrate transportation networks and urban living, further solidifying its position as a leader in sustainable urban development.
