Strengthens Capital Base with Paradigm REIT Listing on Bursa Malaysia
PETALING JAYA, 18 JUNE 2025 – WCT Holdings Berhad (“WCT” or “the Group”), an investment holding company with businesses in engineering and construction, property development and investment in and management of retail malls and hotels, successfully concluded its 14 th Annual General Meeting (“AGM”) today at Le Méridien Petaling Jaya.
The board of directors present at the 14th AGM. From left: Mr. Ng Soon Lai @ Ng Siek Chuan (Independent Non-Executive Director), Puan Rahana Binti Abdul Rashid (Independent Non-Executive Director), Datuk Ab Wahab Bin Khalil (Independent Non-Executive Director), Dato’ Lee Tuck Fook (Group Managing Director), Datuk Chow Ying Choon (Deputy Managing Director), Dato’ Ng Sooi Lin (Independent Non-Executive Director)& Tan Sri Marzuki Bin Mohd Noor (Independent Non-Executive Director)
All nine resolutions tabled at the AGM were duly passed by shareholders, reflecting continued confidence in the Group’s leadership and strategic direction. Key resolutions included the re-election of directors, reappointment of external auditors, and authorisation for the issuance of shares. Shareholders also received the Group’s Audited Financial Statements for the financial year ended 31 December 2024, along with the accompanying Reports of Directors and Auditors.
Dato’ Lee Tuck Fook, Group Managing Director of WCT, said, “In 2024, WCT remained steadfast in executing our strategic priorities across the Group’s three core business pillars. Despite economic headwinds, cost volatility, and evolving regulatory frameworks, we remained agile – anchored by financial discipline, operational efficiency, and a strong commitment to sustainability. Malaysia’s continued economic recovery, underpinned by improved consumer sentiment, increased infrastructure spending, and a stabilising labour market, has provided a supportive backdrop for our performance.”
For the financial year ended 31 December 2024, WCT recorded revenue of RM1.83 billion, up from RM1.73 billion in the previous year. The Group returned to profitability with RM277.9 million in profit attributable to equity holders – marking a turnaround from the RM254.1 million loss in FY2023. The positive result was supported by stronger contributions from all business segments and a net gain after tax of RM183.8 million arising from the remeasurement of interest in a jointly controlled entity. These achievements reflect the Group’s resilient operating model and effective execution of strategic initiatives.
Looking ahead, WCT remains focused on sustainable growth across its core divisions. The Engineering and Construction Division continues to pursue new infrastructure opportunities while improving efficiency. The Property Development Division is supported by a healthy project pipeline, including upcoming property launches at W City Larkinton, Johor Bahru and WCity OUG, Kuala Lumpur. Strong domestic spending and a rebound in tourist arrivals are expected to continue driving growth across the Group’s retail mall operations—particularly at its airport malls—as well as in the hospitality and business aviation segments. Meanwhile, the continued recovery in travel and tourism, supported by national initiatives such as Visit Malaysia 2026, positions the Group’s hospitality and aviation businesses to strengthen their market presence and diversify revenue streams.
The successful listing of Paradigm REIT (“REIT”) on 10 June 2025 marks a key milestone in the Group’s asset monetisation and capital recycling strategy. The REIT, comprising three premier retail assets valued at approximately RM2.4 billion, enables WCT to unlock asset value while maintaining strategic exposure through its significant unit holdings. This listing not only enhances balance sheet strength via partial cash proceeds but also positions the Group to benefit from recurring income streams and future capital appreciation. The REIT platform will provide greater financial flexibility and acquisition headroom going forward.
“While global economic uncertainties persist, we remain cautiously optimistic about the Group’s prospects. Our diversified business portfolio and strategic initiatives position us well to navigate challenges and capitalise on emerging opportunities in the year ahead,” concluded Dato’ Lee.
About WCT Holdings Berhad
Established in 1981 and listed on the Main Market of Bursa Malaysia since 1995, WCT Holdings Berhad is a leading investment holding company with a workforce of approximately 2,000 employees and presence in six countries. The Group is primarily involved in three core businesses: engineering and construction, property development, and property investment & management. WCT’s engineering and construction expertise covers F1 racing circuits, airports, dam and water supply scheme, expressways and highways, civil works, buildings, and rail-based infrastructure works.
Its property development and investment & management portfolio includes townships, luxury homes, high-rise residences, integrated commercial developments, concession assets, hotels, and shopping malls. The Group owns and operates two shopping malls-gateway@klia2 and SkyPark Terminal in Selangor – as well as three hotels: Première Hotel in Klang, Le Méridien Petaling Jaya, and Hyatt Place Johor Bahru Paradigm Mall. WCT currently holds a land bank of approximately 179 acres in Malaysia.
In addition, WCT holds an effective 60.7% equity stake in Paradigm REIT, which in turn owns the three shopping malls – i.e. Bukit Tinggi Shopping Centre, Paradigm Mall Petaling Jaya, and Paradigm Mall Johor Bahru.
KUALA LUMPUR, June 17 (Bernama) -- The inaugural Energy Asia Awards themed ‘Delivering Asia’s Energy Transition’, honoured two outstanding changemakers for their contributions in delivering transformative impact across Asia’s energy landscape and accelerating the region’s shift towards a low-carbon, inclusive, and sustainable future.
Held in conjunction with Energy Asia by PETRONAS, the awards recognise individuals and organisations creating innovative solutions that address Asia’s rising energy demand, tackle emissions challenges, and drive urgent systemic change while safeguarding vulnerable communities.
This first edition of the awards drew over 150 submissions from 20 countries, reflecting a diverse range of purpose-driven and scalable projects across industries.
Each entry underwent a rigorous multi-stage evaluation conducted by a distinguished panel of industry leaders, sustainability champions, and technical experts. Submissions were assessed on innovation, impact, sustainability, and scalability, with transparency and excellence at the core of the judging process.
Following comprehensive reviews and a final pitch session with six shortlisted finalists, the judges selected two trailblazing initiatives:
The Eureka Award - recognising technological innovation that advances measurable decarbonisation and environmental goals - was awarded to Pos Malaysia for its Greening the Last Mile: Pos Malaysia’s Sustainability Transformation.
The ambitious initiative seeks to halve emissions by 2030 and achieve net zero by 2050 through a data-driven, sustainable logistics ecosystem that integrates decarbonisation, community upliftment, and workforce empowerment.
The Trailblazer Award – celebrating inclusive solutions that drive social equity and empower communities through the energy transition – was presented to Pertamina for Desa Energi Berdikari (Energy-Independent Village) project.
This visionary project promotes decentralised clean energy solutions that tackle waste, energy consumption, and CO₂ emissions, while supporting rural electrification and inclusive, sustainable development across Indonesia’s villages. These projects demonstrate the real, tangible solutions being forged across borders to deliver lower-carbon, affordable and accessible energy for all.
Winners of the Energy Asia Awards exemplify the spirit of innovation and collaboration that is vital to delivering a just and inclusive energy transition. Their commitment to responsible and sustainable practices sets a powerful benchmark for the industry, with far-reaching impact on the region and communities.
The awards will continue to be a central feature of the Conference, reinforcing the commitment to championing practical, scalable solutions that accelerate Asia’s transition while ensuring energy security and equitable growth.
About Energy Asia
Energy Asia aims to advance the region’s net-zero ambitions by bringing together policymakers, industry captains and energy professionals through actionable solutions for a just and responsible energy transition. Spanning three days from 16 to 18 June 2025 at the Kuala Lumpur Convention Centre, Energy Asia is poised to deliver riveting thought leadership discussions alongside a showcase of cutting-edge technology and solutions.
SOURCE: PETRONAS
KUALA LUMPUR, June 17 (Bernama) -- PETRONAS and JERA have agreed to expand their collaboration across the gas value chain with the signing of a Memorandum of Understanding (MoU) including providing reliable LNG supply for Japan. The agreement builds upon PETRONAS and JERA’s long-established partnership since 1983.
The MoU was signed during Energy Asia 2025, by Datuk Adif Zulkifli, EVP Gas & Maritime Business and Mr. Ryosuke Tsugaru, Senior Managing Executive Officer and Chief Low Carbon Officer, witnessed by PETRONAS President and Group Chief Executive Officer, Tan Sri Tengku Muhammad Taufik, and JERA Global Chief Executive Officer and Chair, Yukio Kani.
PETRONAS has been delivering LNG to Japan for over four decades and is committed to continue meeting customer needs with reliable delivery of LNG. JERA has been purchasing LNG from Malaysia and other countries and securing stable energy supply for the customers. As long-term partners, PETRONAS and JERA are mutually committed to meet market demands with lower-carbon energy solutions. The companies will continue to explore initiatives aligned with this shared goal as part of both organisation’s broader decarbonisation strategy.
About PETRONAS
PETRONAS is a global energy group with operations in over 100 countries. Through its integrated LNG value chain and strong sustainability focus, PETRONAS delivers reliable energy solutions to meet rising global demand.
About JERA
JERA is a global energy leader and Japan’s largest power generation company, producing one-third of Japan’s electricity, and is one of the largest LNG buyers in the world. In support of a responsible energy transition, JERA has committed to achieving net-zero CO₂ emissions from its domestic and overseas businesses by 2050.
SOURCE: PETRONAS
