Iconic Worldwide Bhd.
MMYX:ICONIC0.11
MYR
0.00
(0.00%)
Iconic Worldwide Bhd.
MYX:ICONIC
(Bursa Malaysia)
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0.11
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ROIC.AI
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- Business
- Iconic Worldwide Berhad is a Malaysia-based investment holding company primarily engaged in property development, hospitality operations, and property investment. Founded in 1969 and formerly known as Sanbumi Holdings Berhad, the company is headquartered in Bukit Mertajam, Penang, Malaysia, and focuses its core commercial operations across the northern region of Peninsular Malaysia. The company operates across three principal business segments: Property Development, Hospitality, and Manufacturing and Property Investment. Through its Property Development division, Iconic Worldwide undertakes commercial, residential, and industrial real estate development projects; provides comprehensive project management and construction management services; and delivers infrastructure planning and advisory solutions, having completed prominent commercial hubs such as Iconic Point in Simpang Ampat and Icon City in Bukit Mertajam. Through its Hospitality division, the company manages and operates hospitality assets, including the four-star Iconic Hotel in Bukit Mertajam and the five-star Iconic Marjorie Hotel in Bayan Lepas, Penang, operated under Marriott International's Tribute Portfolio; provides event, conference, and banquet facilities; manages food and beverage outlets; and offers tourism services, passenger transportation, travel ticketing, and souvenir merchandising. Through its wholly-owned subsidiary, Iconic Medicare Sdn. Bhd., the company owns specialized industrial assets, including a manufacturing facility situated in the Batu Kawan Industrial Park, which was historically established for the production of personal protective equipment, including three-ply and four-ply disposable medical face masks, surgical masks, and nitrile examination gloves. In recent corporate and operational developments, Iconic Worldwide has undergone strategic realignments to optimize its capital structure and asset utilization. In April 2024, the group successfully completed a renounceable rights issue with free detachable warrants, raising approximately RM95.6 million to finance ongoing property development initiatives, pursue new real estate landbank opportunities, and enhance working capital. Following an industry-wide normalization in the personal protective equipment sector, Iconic Worldwide strategically ceased its glove manufacturing activities at the Batu Kawan facility and transitioned the site into an income-generating industrial real estate asset. In January 2026, Iconic Medicare finalized a long-term tenancy agreement to lease the Batu Kawan industrial plant to Aperion Technologies (Malaysia) Sdn. Bhd., securing an estimated RM75.6 million in recurring rental revenue over an initial six-year term. Concurrently, the company is expanding its pipeline toward mixed-use commercial developments, industrial parks, and integrated hospitality projects across Penang to capitalize on regional infrastructure growth.