Perak Corporation

What Perak Corporation does

Perak Corporation Berhad (Perak Corp) is a government-linked investment holding company listed on the main board of Bursa Malaysia (KLSE: PRKCORP), headquartered in Ipoh, Perak, Malaysia. Founded in 1991 as a subsidiary of Perbadanan Kemajuan Negeri Perak Group (PKNPk Group) with RM100 million paid-up capital, the company operates 17 subsidiaries and 2 associate companies across four core business divisions: Land & Property Development, Port & Logistics, Hospitality & Tourism, and Management Services. Perak Corp employs 251-500 people and serves as the master developer for strategic state projects aligned with the Perak Sejahtera 2030 development plan.

The company's core products and operations span Bandar Meru Raya integrated township, the 816-acre Silver Valley Technology Park (in co-development with Advancecon, RM1.03 billion GDV), Lumut Maritime Terminal and Lekir Bulk Terminal (3.5 million MT current capacity, expanding to 14 million MT via RM282 million LMT 2), the Casuarina hotel brand chain (Casuarina@Meru with 65 rooms and 81 suites, Casuarina@Kuala Kangsar with 46 rooms, Casuarina@Pangkor resort, Casuarina Houseboat@Temenggor, and the Casuarina Convention Centre with 2,500 pax capacity), and management services. Revenue is generated through one-time property development sales, transaction-based port handling fees (including coal handling for TNB Janamanjung covering approximately 30% of Malaysia's electricity), recurring hospitality bookings, and management service fees to subsidiaries. The Group CEO is Rosmin Mohamed; the Group CFO position is currently vacant, indicating potential governance or transition risk.

Name

Perak Corporation

Legal name

Perak Corporation Berhad

Website

https://perakcorp.com.my

Company type

Public

Founded year

1991

Operating status

Operating

Headcount range

251–500 employees

Short description

Perak Corporation Berhad is a Malaysian government-linked investment holding company operating property development, port logistics, hospitality, and management services through 17 subsidiaries, anchored by the Lumut Maritime Terminal, Bandar Meru Raya township, and Casuarina hotel brand.

Ownership category

akta.pro rank

Product category

Diversified Property, Port & Hospitality Holdings

NAICS

Port and Harbor Operations (48831), Petroleum Bulk Stations and Terminals (424710), Corporate, Subsidiary, and Regional Managing Offices (551114)

SIC

General Bldg Contractors - Nonresidential Bldgs (1540)

akta.pro primary industry

Infrastructure Planning, Capital Programs & Project Delivery Offices (PMOs) (BPAIALAJ)

akta.pro secondary industry

Construction Management & Delivery (EPCM/CMAR/Design-Build Oversight) (EUANALAE)

Keywords

• Property development services
• Port logistics operations
• Hospitality tourism services
• Industrial park development
• Investment holding company

Headquarters

HQ city

Ipoh

HQ country

Malaysia

HQ region

Asia

Offices5 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Infrastructure, Operations, Supply Chain, Marketing or Sales, Others

Revenue model

1. Land & Property Development: Revenue generated from property development projects including township development (Bandar Meru Raya), industrial parks, and residential/commercial properties. Perak Corp acts as master developer for strategic projects.
2. Port & Logistics Services: Revenue from Lumut Maritime Terminal operations including cargo handling, bulk terminal operations (Lekir Bulk Terminal), and port services. The terminal handles vessels and barges with capacity of 3.5 million tonnage currently, with expansion plans to 14 million MT.
3. Hospitality & Tourism: Revenue from hotel operations (Casuarina@Meru, Casuarina@Kuala Kangsar, Casuarina@Pangkor), Casuarina Convention Centre, and Casuarina Houseboat@Temenggor. Income includes room bookings, event hosting, F&B, and tourism experiences.
4. Management Services: Fees from providing management and consulting services to subsidiaries and group companies.

Go-to-market motion2 records

Distribution channels6 records

Marketing channels8 records

Core offering

Perak Corporation Berhad is a government-linked investment holding company operating four core business divisions: (1) Land & Property Development including the Bandar Meru Raya integrated township; (2) Port & Logistics through the Lumut Maritime Terminal and Lekir Bulk Terminal on the Straits of Malacca; (3) Hospitality & Tourism under the Casuarina brand including hotels, a convention centre, and houseboat; and (4) Management Services. The company serves as master developer for PKNPk Group's strategic projects in Perak, Malaysia.

Product overview

Perak Corporation Berhad operates as a diversified conglomerate with four core business divisions: Land & Property Development (Bandar Meru Raya township), Industrial Parks (Silver Valley Technology Park), Port & Logistics (Lumut Maritime Terminal and Lekir Bulk Terminal), and Hospitality & Tourism (Casuarina hotel brand chain). The company functions as a Master Developer for PKNPk Group's strategic projects, delivering integrated townships, industrial estates, maritime terminals, and hospitality services across Perak, Malaysia. The hospitality division operates under the Casuarina brand umbrella, including Hotel Casuarina@Meru, Hotel Casuarina@Kuala Kangsar, Casuarina@Pangkor, Casuarina Houseboat@Temenggor, and the Casuarina Convention Centre.

Differentiator

Problem solved

Functional benefit

Brands

• Casuarina Brands: Home-grown hotel brand including Hotel Casuarina@Meru, Hotel Casuarina@Kuala Kangsar, Casuarina@Pangkor, and Casuarina Houseboat@Temenggor
• Casuarina Convention Centre
• Casuarina Houseboat @ Temenggor 1
• Bandar Meru Raya
• Lumut Port Industrial Park

Products and services

• Bandar Meru Raya
• Silver Valley Technology Park (SVTP)
• Lumut Maritime Terminal (LMT)
• Lumut Port Industrial Park
• Lekir Bulk Terminal (LBT)
• Hotel Casuarina@Meru
• Hotel Casuarina@Kuala Kangsar
• Casuarina@Pangkor
• Casuarina Houseboat@Temenggor 1
• Casuarina Convention Centre

Quantifiable outcome

• SVTP project to generate 13,000 job opportunities for Perak
• +5 more outcomes

Named customers6 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Eight partnerships are on record, tiered core and minor.

• Tenaga Nasional Berhad (TNB)coreStrategic or Co-development Partner · 2 May 2025Casuarina Meru Sdn Bhd (subsidiary of Perak Corp) signed leasing agreement with TNB for installation of EV charging stations at Hotel Casuarina@Meru. TNB installed one 120 kW DC fast charger with dual CCS2 nozzle and two 22 kW AC chargers with dedicated EV bays and 24-hour access. Partnership advances Perak Sejahtera 2030 green agenda and low-carbon mobility network.
• National Cancer Society Malaysia (NCSM)minorStrategic or Co-development Partner · 12 November 2024Perak Corp collaborated with NCSM to organize Free HPV Vaccination Programme 'Leaving No One Behind: Putting A Stop to Cervical Cancer in Malaysia' held at Hotel Casuarina@Meru. Programme complementary to Malaysian National Immunisation Programme targeting women aged 9-45 and men aged 13-26. Over 100 people vaccinated during the event.
• Perbadanan Kemajuan Negeri Perak (PKNPk)coreStrategic or Co-development Partner · 4 March 2024Perak Corp as subsidiary of PKNPk Group entered into Joint Venture Agreement with parent company PKNPk for Silver Valley Technology Park development. PKNPk provides strategic direction and land resources while Perak Corp serves as master developer for SVTP. Partnership aligns with Perak Sejahtera 2030 development vision.
• Advancecon Development Sdn BhdcoreStrategic or Co-development Partner · 8 January 2024Perak Corp entered into agreement with Advancecon Holdings Berhad as co-developer for Silver Valley Technology Park (SVTP) project with RM1.03 billion GDV. Advancecon brings 30 years of experience in infrastructure construction services. The three-party joint venture combines resources, expertise, and capabilities between PKNPk, Perak Corp, and Advancecon for the development of Southeast Asia's first digital disruptive industrial park.
• Quill Group of CompaniesminorStrategic or Co-development Partner · 25 October 2021PKNPk and Perak Corp exploring potential collaborations with Quill Group, a leading fully integrated multi-disciplinary property group in Malaysia. Delegates from Quill visited Pangkor and toured Casuarina Houseboat exploring property, hospitality and tourism development opportunities.
• MITI - Public Private Partnership COVID-19 Industry Immunisation Program (PIKAS)minorStrategic or Co-development Partner · 23 July 2021Casuarina Convention Centre selected as Vaccination Administration Centre (PPV) under MITI-led PIKAS programme for manufacturing workers in Perak. Target to administer 16,000 vaccinations with capacity of up to 1,800 doses per day. Partnership with Malaysian government for pandemic response.
• Casuarina Meru Sdn Bhd (Internal Integration)coreStrategic or Co-development Partner · 17 July 2020Casuarina SINI-DRIVE was the first project connecting and integrating PCB Group businesses including property development, hospitality, tourism, and F&B. The drive-in cinema at Downtown Meru served as platform for PCB to create future promotion bundles linking property, hospitality, tourism and food & beverages.
• KPJ Healthcare BerhadminorStrategic or Co-development Partner · 18 June 2020Perak Corp through PCB Development extended opportunity for KPJ Healthcare to explore expansion in Bandar Meru Raya, Ipoh. KPJ currently operates KPJ Ipoh Specialist Hospital with 275 beds. Discussions focused on potential healthcare facility development within Perak Corp's township.

Scale indicators22 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• UEM Sunrise Berhad: Malaysian GLC-linked property developer focused on integrated townships and high-rise developments. Comparable as a Bursa Malaysia-listed master developer with state-backed project relationships and large land bank strategy.
• Mah Sing Group Berhad: Bursa Malaysia-listed property developer with townships, industrial projects, and commercial developments. Comparable developer-scale player targeting Malaysian growth corridors with similar master-planned community approach.
• Eastern & Oriental Berhad: Malaysian property and hospitality group with luxury developments, hotels, and tourism assets. Comparable for the hospitality and integrated property/hospitality positioning overlapping Casuarina brand operations.
• MMC Corporation Berhad: Malaysian conglomerate operating ports (Johor Port, PTP), energy, and construction. Closest peer on the port/logistics side given Lumut Maritime Terminal operations and infrastructure-driven business model.
• Sime Darby Property Berhad: Malaysian GLC-linked township and integrated property developer with master-planned communities, industrial parks, and commercial assets. Directly comparable as a large-scale Malaysian master developer competing for institutional and government-linked project flow.
• SP Setia Berhad: One of Malaysia's largest listed property developers with townships, integrated developments, and industrial assets. Comparable as a Bursa Malaysia-listed master developer with similar township-scale projects and government project relationships.
• IGB Corporation Berhad: Malaysian listed company with property development, hospitality (hotels), and investment holdings. Comparable as a diversified property/hospitality listed entity with recurring revenue streams from real estate operations.
• Suria Capital Holdings Berhad: Sabah state GLC operating ports, property, and logistics. Comparable as a Malaysian state-government-linked holding company focused on port operations and property development in a single regional geography.

Emerging players

• Advancecon Holdings Berhad: Malaysian infrastructure and earthworks contractor that is Perak Corp's JV co-developer for Silver Valley Technology Park. Comparable as an emerging infrastructure player whose project pipeline is increasingly tied to GLC-led industrial park development.

Broad incumbents

• Boustead Holdings Berhad: Malaysian GLC conglomerate with diversified operations across property, plantation, heavy industry, and hotels. Comparable as a government-linked diversified holding company with mixed property and hospitality exposure under a single listed entity.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xtwitter.com/perakcorp?lang=en
• Facebookfacebook.com/perakcorporation/?locale=ms_MY
• Instagraminstagram.com/perakcorp

Revenue estimate

Valuation estimate

Number of profiles

Profiles18 records

Subsidiaries5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Perak Corporation