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The pharmaceutical group said the purchases will be funded by proceeds raised through its regularisation plan, which is part of the group’s strategy to strengthen its logistics infrastructure and expand distribution capacity across the east coast of Peninsular Malaysia as well as Sabah and Sarawak.

Developed under IJM Land’s wellness roadmap, the facility is described as a 360° ecosystem integrating prevention, treatment and long-term health management.

The proposed disposal is part of its strategy to monetise non-core assets, unlock value, and strengthen its cash position to meet operational and working capital requirements.

Nurul said many local issues stem from top-down planning methods that overlook on-the-ground realities.

One reason the government has not mandated the BTS model is that, based on the National Housing Department’s assessment, the industry chain is not yet fully ready, while mandatory implementation could also favour large corporations at the expense of SMEs, which play a critical role in developing small towns and rural areas, said Minister of Housing and Local Government Nga Kor Ming.

“Mobility, emissions, and population data exist, but they’re scattered and not easily accessible.

“PBTs that demonstrate 'green' and consistent performance will receive additional allocations, those with '’yellow' performance will have their allocations reviewed, while PBTs that receive a 'red' status will see their allocations reduced or even cancelled.

This is the third extension granted to Meridian since it was classified as a PN17 issuer in April 2024.

The non-binding MOU outlines a partnership model intended to connect Asean and global capital markets with ready-to-develop industrial zones in Johor.

Minister in the Prime Minister's Department (Federal Territories) Datuk Seri Dr Zaliha Mustafa said the special task force would coordinate negotiations between developers, government agencies and local community representatives.