Merdeka 118

2022 - 9 - 12

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Image courtesy of "The Edge Markets MY"

Maybank's new HQ at Merdeka 118 to enhance brand visibility, says ... (The Edge Markets MY)

Malayan Banking Bhd's (Maybank) decision to move its head office to Menara Merdeka 118, which has high sustainability standards, is expected to enhance the ...

That is one key driver when we look at our portfolio of real estate, that a lot of companies are looking at how sustainable it is for a building, and whether it fulfils their commitments," he said. "We believe that the amount [of rental] is manageable. But we [at] Maybank, we have done all the math, and we have looked at how we should protect our interest, in making sure that we have tenants in this building (Menara Maybank) before we move on. We aspire to be a leading company on sustainability point of view," he said. We have to refurbish this, move out, and then come [back] in, that is one perspective," said Khairussaleh. "But we think that it's about the goodwill of having such a high-profile building.

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Image courtesy of "The Sun Daily"

Maybank to relocate head office to PNB's Menara Merdeka 118 in ... (The Sun Daily)

KUALA LUMPUR: Malayan Banking Bhd (Maybank), which today signed a 21-year tenancy agreement with Permodalan Nasional Bhd (PNB) to lease space in Menar...

As the anchor tenant of Menara Merdeka 118, Maybank has been offered naming and signage rights over the building by PNB. Additionally, the agreement includes an option to sell Menara Maybank should it add value to both parties. Under the triple net basis agreement, PNB will be the master lessor of Menara Maybank and bear all expenses related to the building including maintenance, insurance and taxes. The net effective rental rate is commonly used as a measure of expected income from a tenant. Since Maybank is not in the business of property development, we saw it prudent to pursue the tenancy option. Khairussaleh explained that the Kuala Lumpur main branch in Menara Maybank will remain and there will be no impact on customers who have accounts with the branch.

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Image courtesy of "Malay Mail"

Maybank to move headquarters to Menara Merdeka 118 in Q1 2025 (Malay Mail)

KUALA LUMPUR, Sept 12 — Malayan Banking Bhd (Maybank) has inked a 21-year tenancy agreement with Permodalan Nasional Bhd (PNB) to move its corporate head ...

Maybank is able to transition from an owner-occupied property and relocate to Merdeka118 while PNB will be asset-managing Menara Maybank as part of its domestic core property portfolio, currently totalling 40 assets in Malaysia and 13 assets internationally,” he added. “The lease agreement for Menara Maybank will commence in the last quarter of 2025. “The leasing of Menara Maybank is win-win solution for both parties.

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Image courtesy of "The Malaysian Reserve"

Maybank to move HQ to Merdeka 118 tower in... (The Malaysian Reserve)

MALAYAN Banking Bhd (Maybank) is relocating its corporate head office to Menara Merdeka 118, one of the tallest buildings in the world, at Jalan Hang Jebat, ...

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Image courtesy of "The Star Online"

Maybank to move corporate HQ (The Star Online)

Group President and CEO of Maybank Dato' Khairussaleh Ramli (left) and PNB President and Group Chief Executive Ahmad Zulqarnain Onn at the signing ceremony.

In addition, there would be various operational risks and business disruption to our customers,” he said. “Our history as an independent nation began here. That means, we will continue to have people working from home,” said Khairussaleh. “We will continue to have people working from home, as a new normal. “We don’t have any urgency to sell, to start with. To do so would incur significant investments, not to mention the maintenance costs and the need to temporarily relocate our offices and employees into various locations within the Klang Valley. “We believe the amount (estimated annual rental cost) is manageable. “With the triple green platinum certifications, Menara Merdeka 118 will be the foremost green building in Malaysia and the industry leader in sustainability in design, architecture and build. “Maybank is able to transition from an owner-occupied property and relocate to Merdeka 118, while PNB will be asset managing Menara Maybank as part of its domestic core property portfolio, currently totalling 40 assets in Malaysia and 13 assets internationally,” he said. In a statement, Khairussaleh said that as part of the evaluation for a new head office that began in 2019, the group considered several options including refurbishing the 35-year-old Menara Maybank, constructing a new head office or renting office space from a new building that already met its future operational requirements. Khairussaleh noted that since Maybank was not in the business of property development, the group saw it prudent to pursue the tenancy option while evaluating the best options for its current head office, Menara Maybank, which it owns and will become largely vacant with the move to Menara Merdeka 118. [Malayan Banking Bhd](/business/marketwatch/stocks/?qcounter=MAYBANK) [ (Maybank) will move its corporate head office from Menara Maybank in Jalan Tun Perak to Menara Merdeka 118 in stages starting from the first quarter of 2025.](http://charts.thestar.com.my/?s=MAYBANK)

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