Transforming Spaces: Pioneering the Future of Living

Spanning more than five decades in property development and asset management, PKNPk was established as a state-owned company, pivotal in unlocking the potential of economic growth in Perak. From agricultural development and related activities, upon looking to the future, we recognised the potential of sustainable development towards the creation of integrated township, affordable housing, smart city and urban renewal through a public-private partnership, where we began acquiring land and developing residential, commercial and industrial properties, contributing to the urbanisation of Perak.

We seek a substantial property portfolio as our value proposition and activities align, while ensuring that the properties are built and optimised to their full potential, generating value for stakeholders and our communities. We began venturing into an understanding of the lifecycle of assets management, where we adopted the best asset management practises and brought in expertise in financial management, property management, market analysis and regulatory compliance to ensure the successful development and operation of properties.

Green Living, Smart & Sustainable Homes

This park offers an ideal environment for innovation and growth, underpinned by our adoption of Environmental, Sustainable and Good Governance (ESG) and green technology best practices. Our commitment to bring RM14bil of Private Investment and 13,000 employment opportunities, especially for future generations in Perak, is a testament to our optimistic view about the future.

Aligned with the real estate priority area under the implementation of the PKNPk Transformation Roadmap, MHB has developed a Live in Nature–concept housing project offering affordable homes for the people of Perak.

This project is one of the key State Government initiatives under the Perumahan Sejahtera Flagship, in line with the aspirations of Perak Sejahtera 2030. Named Taman Tasik Ardea, the housing development is in Batu Gajah and surrounded by a 63-acre natural lake.

Taman Tasik Ardea comprises 601 residential units within a low-density environment, providing a harmonious living space suitable for families of all sizes. The development is progressing actively and is expected to be fully completed by the fourth quarter of 2026.

Following the implementation of the PIRSB Group transformation in 2020, PIRSB transferred the management rights of the Perak Techno Trade Centre (PTTC) building to its subsidiary, Pengurusan Murni Sdn Bhd (PMSB), which now leads the asset management function for the PIRSB Group.

The leasable area within the PTTC building is approximately 91% of the total space, in line with the building's original design, which is focused primarily on administrative functions.

As of December 2023, the occupancy rate for office spaces in the PTTC building has reached 78%. Tenants of PTTC include government agencies, Government-Linked Companies (GLCs), private companies, and companies under the PKNPk Group.

SVTP is a key initiative under Perak's state industrial development plan. Located strategically between the Kanthan Industrial Park and the city of Ipoh, the area offers a complete supporting ecosystem and close access to essential facilities, making it an ideal location for attracting investment and high-impact development.

Through a strategic collaboration between PKNPk and Perak Corp, formalised on 12 August 2022, the development of the SVTP industrial area is expected to attract up to RM14 billion in foreign direct investment (FDI) and domestic investment over the next five to ten years. The park also has the potential to create 13,000 new job opportunities for the people of Perak.

The park is the flagship initiative of the state's long-term digital and industrial strategies, particularly the Perak Digital Economy Action Plan 2030 and the Smart City Blueprint 2040. The Perak Digital Economy Action Plan 2030 focuses on developing digital infrastructure, promoting AI and analytics adoption and expanding broadband access across Perak's key growth nodes. The Smart City Blueprint 2040, launched in June 2025, complements the action plan with 132 planned initiatives, from smart mobility to predictive maintenance systems, which are designed to make cities like Ipoh more liveable connected and investment ready.

Together, they provide the enabling layer for SVTP's industrial rollout, connecting factories, logistics networks and data systems into a single digital ecosystem. SVTP is designed for scalability. It is a 2,700 – acre masterplan (Parcel 1 has 816 acres) with an estimated Gross Development Value (GDV) of RM 1.03 billion that will allow tenants to secure large, contiguous plots and expand in phases without relocating.

Recognising the need for a long-term solution to address the irregular, overcrowded, and substandard living conditions of foreign workers, PKNPk has undertaken a strategic initiative to develop CLQ as a model for systematic, safe and sustainable worker accommodation.

The CLQ development is fully designed in accordance with the requirements under the Minimum Standards of Housing, Accommodations and Amenities for Employees Act 1990 (Act 446) and complies with the guidelines set by the Department of Labour (JTK) and local authorities. Comprehensive infrastructure and facilities are provided to ensure a conducive living environment that prioritises workers' safety and welfare.

LuMIC is a strategic development agenda for the Integrated Maritime Industrial Cluster in Manjung, focusing on the industrial, maritime, and logistics sectors, including direct participation in international trade routes. This plan is one of the key growth nodes under the Perak Sejahtera 2030 vision, aimed at positioning the state of Perak as a Maritime and Nusantara Port Hub, particularly for trade links between Europe and the Asia-Pacific region.

LuMIC has a strong advantage geographically as it is located along the Straits of Malacca through which many European vessels pass making it a natural "bridge" between Europe and Asia. Straits of Malacca handles 40% of world trade and has served as the life blood of commerce for centuries. This will not only provide economic gains but also drive sustainable, inclusive growth.

LuMIC aims to complement Malaysia's industrial ecosystem and support Perak's current and future industries. The areas under focus include green energy, circular economy and advanced manufacturing, particularly in specialised industries and next generation logistics.

The Facility Management segment was the largest contributor to MHB's revenue in 2023, with total earnings reaching RM16.36 million, a significant increase compared to RM3.12 million in 2022. This surge was driven by Strata Building Management services operated by Majuperak Allied Sdn Bhd. As of 31 December 2023, Majuperak Allied Sdn Bhd managed 124 buildings across Malaysia.

Several contracts for cleaning works and landscape maintenance were also secured by MHB, contributing further to the increase in revenue. To strengthen long-term growth, the management has outlined a strategic plan to ensure this segment can continue to expand by focusing on market opportunities within the state of Perak.

Among the new projects successfully secured are Residensi PR1MA Bandar Baru Sitiawan, Laguna 2 Apartment, Lumut CLQ @ Asrama Murni, and the Department of Occupational Safety and Health (DOSH) Perak.

In terms of asset management, Kompleks Silveritage functions as a commercial hub for local entrepreneurs, including those in the handicraft and food product sectors. Continuous efforts are being actively undertaken by MHB in collaboration with agencies such as the Perak State Entrepreneur Secretariat (STeP), MARA, Small and Medium Industries (SMI) and others to attract more entrepreneurs to set up and market their products at the complex.