KUALA LUMPUR, 26 June 2024 – TIMES24 Malaysia Sdn. Bhd. has solidified its position as the preeminent car park management company in Malaysia by clinching The Brand Laureate Award in the Fast Moving Growing Sustainable Business category. This accolade underscores TIMES24 Malaysia’s outstanding operational excellence, managing over 160 car parks strategically located across the country.
TIMES24 Malaysia, a subsidiary of Japan-based PARK24, operates within a vast network spanning seven countries, managing more than 1.3 million parking spaces and over 28,000 car park sites globally. The company’s recent recognition reflects its commitment to quality service and sustainable growth, a testament to its robust market presence.
Celebrating its 30th anniversary, TIMES24 Malaysia boasts over 34,000 registered monthly seasonal motorists, demonstrating its enduring industry expertise. Formerly known as Secure Parking Corporation, the company has consistently provided reliable services, establishing itself as a trusted provider in car park management.
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Yoshiharu Terashita, Regional Managing Director and Co-CEO of TIMES24 Malaysia, emphasized the company’s dedication to enhancing the customer journey through advanced cashless technologies. “In Japan, 100% of TIMES parking facilities are optimized with cutting-edge cashless technologies. Our survey in Malaysia shows that over 60% of users prefer cashless, with approximately 70% of our car parks already integrating them. We are dedicated to customizing our approach to meet the unique demands of each market, led by our internal Quality Control team,” he stated.
Research highlights the significant parking challenges faced by Malaysian drivers, who spend an average of 152 hours annually searching for parking spaces, intensifying traffic congestion in central areas. In Kuala Lumpur alone, traffic congestion has surged by 43% compared to previous years. This issue is particularly pronounced in cities like Penang, Melaka, and Johor Bahru, especially during festive seasons.
Ong Yeong Wee, Co-CEO of TIMES24 Malaysia, addressed the parking space demand in Kuala Lumpur, noting the potential of underutilized land. “The demand for parking space in KL is undeniable, underscored by the discovery of approximately 20% unused land in the Klang Valley region. In response to this pressing need, we at TIMES24 Malaysia are actively seeking partnerships with more landlords to provide the latest and most user-friendly technologies, ensuring a comfortable experience for all motorists across Malaysia,” he said.
Looking ahead, TIMES24 Malaysia aims to expand to 1,000 car parks by 2030, focusing on alleviating parking challenges and enhancing urban mobility nationwide.
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