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AirBnb: Penang’s proposed short-term rental accommodation guidelines detrimental to tourism economy and growth

Airbnb announced that it has shared “detailed feedback and policy recommendations” with the Penang government’s executive committee in light of the state’s plan to regulate local short-term rental accommodation (STRA). Aimed at empowering local residents, these recommendations are focused on a balanced and simple approach towards regulating STRA, and are shaped by regulations that have been...

2022 Was A Recovery Year But 2023 Is Likely A Bumpy Ride

2022 came in as a recovery year when the Covid-19 pandemic was recategorised into an endemic. Unfortunately, the Ukraine War, which started on Feb 24, has taken a toll on all international markets. This war is expected to continue more into the cold winter months and demand for oil and gas (O&G) will continue to peak resulting in higher fuel prices. This has also resulted in escalations in raw...

Real Estate Malaysia

Real Estate Developers To Watch In 2023

The recent Malaysia Developers Awards (MDA) can help serve as an indication as to which company to approach when seeking to buy a property as they have proven to be financially strong and have the capacity to build quality homes. But adding to that list, here are several more reputable developers to consider. There is no shortage of candidates as every developer is ramping up their activities and...

New government policies expected to drive incoming investments to revitalise property market

The new unity government is expected to outline clear and consistent policies to strengthen the Malaysian market, which will be impacted because of global macroeconomic headwinds. According to Knight Frank Malaysia (KFM) group managing director Sarkunan Subramaniam, Malaysia needs to bring back investors’ trust and faith in order to see recovery across all sectors. “The global macroeconomic...

Bonia unit to buy property in Kuala Lumpur for RM35.51 mil

Bonia Corp Bhd’s wholly-owned subsidiary, Maha Asia Capital Sdn Bhd (MASB), has inked a Sale and Purchase Agreement (SPA) to acquire a piece of freehold land in Kuala Lumpur (KL) from Resaa Properties Sdn Bhd for RM35.51 million. The acquisition includes land measuring 1,403.71 sq m as well as a double-storey bungalow and guard house, it said in a filing with Bursa Malaysia. Bonia opined that the...

Sunway Velocity Mall Spice Up Festive With Wander Wonder Christmas

‘Tis the season to be jolly with family and friends. Sunway Velocity Mall's Vanity Atrium has been brought to life with lights, colours and festive cheer during the Christmas holidays to Jan 2 next year. As the year approaches the end of a fruitful 2022, and after overcoming so many challenges, it is time to celebrate the year with joy and gratitude towards everyone around us.   “As...

Ibraco unit sets up JVCo for ready-mix concrete biz

Property developer Ibraco Bhd's unit Ibraco Construction Sdn Bhd has set up a joint venture company with supplier of asphalt concrete and ready-mixed concrete Kamunting Premix Plant Sdn Bhd. In a bourse filing on Friday (Dec 16), Ibraco said Ibraco KPP Concrete Sdn Bhd has an initial paid-up capital of RM100,000 represented by 100,000 ordinary shares. In the JV, Ibraco Construction will hold a 70%...

The Tropika Bukit Jalil

The Tropika Bukit Jalil opens its commercial way before residential starts

The Tropika Bukit Jalil Commercial has opened its doors for business to serve its surrounding neighbourhood in the Bukit Jalil area here, while awaiting the completion of its residential component in more than a year’s time. Developed by Berjaya Land Bhd (BLand), the commercial component forms part of The Tropika Bukit Jalil, a 6.5-acre freehold mixed development, which will include four blocks...

MRT Putrajaya Line

Putrajaya MRT 2 final trial to run from Nov 22 to Dec 18

To prepare for the full operation of the Putrajaya Mass Rapid Transit (MRT) line, Rapid Rail Sdn Bhd (Rapid Rail), Mass Rapid Transit Corp Sdn Bhd and contractors will conduct a final trial run of the Putrajaya MRT line Phase Two operation from Nov 22 until Dec 18. Rapid Rail said in a statement on Monday that the final trial run is a precondition set to measure and test system...

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