Tunku Ismail Idris New Blueprint: RMJDT Stablecoin Launched, Application for Singapore Holland Road Development

The business interests of Johor’s Regent, Tunku Ismail Idris, span across Singapore luxury real estate, construction materials, healthcare, land reclamation projects, and cryptocurrency stablecoins, forming the core of the Johor royal family’s vast business empire. Led by the Malaysian King, the Johor royal family holds assets worth at least $5.7 billion, mostly in Singapore real estate.

Singapore 16.6-Hectare Luxury Housing Project: A Golden Location for Royal Legacy

Recently, Tunku Ismail Idris applied to develop his 16.6-hectare land in Singapore with a long-term lease into low-rise, low-density residential properties, including high-quality bungalows—one of the most scarce types of land-based housing in Singapore, only permissible in designated areas.

The site is located between Holland Road and Tyersall Avenue, adjacent to the Singapore Botanic Gardens, in a prime residential zone. Originally, this land was part of a 21.1-hectare estate owned by the Johor royal family for generations. Last year, through a swap and restructuring involving approximately 8.5 hectares of state land, the current 16.6-hectare parcel was formed, further consolidating the royal family’s property holdings in Singapore’s most expensive districts.

Tunku Ismail Idris’s Core Investment Portfolio

Knusford Berhad: Chairman and non-independent non-executive director of the Malaysian building materials and construction group, holding 30.1% of shares through a private company; involved in building materials, construction, machinery leasing, and real estate development.

TMC Life Sciences: Holds shares in a Kuala Lumpur hospital operator, whose largest shareholder is Thomson Medical Group of Singapore, owned by billionaire Lim Reng Fook.

Spektrum Kukuh and Spektrum Budi: Each holds 21% stakes in two special purpose vehicles involved in land reclamation projects in Tanjung Piai and Pengerang, Johor.

Desaru Riverside Estate: Last year, hired RSP, a design firm under Peter Lim, to develop a private residence for the Johor royal family in Desaru, a southeastern coastal town in Malaysia.

RMJDT Stablecoin: Its private company, Bullish Aim, launched in December last year a stablecoin pegged to the Malaysian Ringgit, backed by local currency deposits and short-term Malaysian government bonds.

RMJDT Stablecoin: A Malaysian Royal Cryptocurrency Experiment

RMJDT represents the Johor royal family’s most prominent foray into cryptocurrency. According to reports from Asia News Channel, the token is still in an early experimental phase, operating within a regulatory sandbox, and has not been made available for public use or investment. RMJDT is designed as a fiat-pegged stablecoin, with its value supported by Malaysian short-term government bonds and Ringgit deposits, differing significantly from traditional bank-issued digital currencies.

Malaysian King Sultan Ibrahim Iskandar has publicly expressed his stance on royal involvement in commercial activities: “I must earn a living like ordinary Malaysians. I believe that members of the royal family participating in legitimate business activities is beneficial.” He also stated, “I want to pass this craft to my sons because they need to learn.”

Frequently Asked Questions

Who is Tunku Ismail Idris?
Tunku Ismail Idris (Tunku Ismail Sultan Ibrahim) is the eldest son of Malaysia’s current King, Sultan Ibrahim Iskandar. He is the Regent of Johor and the core heir to the Johor royal family’s business empire, with interests spanning real estate, construction, healthcare, and cryptocurrency stablecoins.

What is RMJDT Stablecoin, and can the public invest?
RMJDT is a Ringgit-pegged stablecoin launched by Tunku Ismail Idris’s private company, Bullish Aim, backed by Malaysian short-term government bonds and local currency deposits. Currently, the token operates within a regulatory sandbox, still in an early experimental stage, and has not been opened for public use or investment.

What is the estimated value of the Johor royal family’s assets?
According to Bloomberg estimates in early 2024, the Johor royal family, led by the Malaysian King, owns assets worth at least $5.7 billion, mostly in Singapore real estate. This figure does not include luxury cars, private jets, or other assets that are difficult to value publicly, indicating the actual wealth is even greater.