Sunway Property has achieved an impressive 95% take-up rate for the third phase of Sunway Aviana in Johor within just a month of its launch. This milestone highlights the growing demand for this exceptional residential project, which is part of the integrated Sunway City Iskandar Puteri. Success of Previous Phases The first two phases of Sunway Aviana, comprising 259 units launched in the fourth...

Bank Negara Maintains OPR at 3% Amid Positive Economic Indicators Bank Negara Malaysia has decided to keep the Overnight Policy Rate (OPR) unchanged at 3%, following the conclusion of its two-day Monetary Policy Committee (MPC) meeting. This decision aligns with economists' expectations and maintains the benchmark lending rate at its level since the last increase of 25 basis points in May...

The Malaysian government has reinstated the cabotage policy in Sarawak to protect local cargo shipping companies from foreign competition. Transport Minister Anthony Loke announced the decision, emphasizing the importance of sustaining local businesses and maintaining economic stability in the region. Rationale Behind the Reinstatement Transport Minister Anthony Loke stated that the decision to...

Penang's Semiconductor Industry: The Silicon Valley of the East Attracts Major Investments In recent years, Penang, Malaysia, has emerged as a major hub for the semiconductor industry, earning the nickname "Silicon Valley of the East." This transformation is a result of strategic investments, favorable global conditions, and a solid industrial foundation built over decades. Surge in Foreign Direct...

Courtyard by Marriott has opened its latest hotel, Courtyard by Marriott Kuala Lumpur South, on Jalan Puchong, Kuala Lumpur. This new addition is part of the 5.2-acre (2.1-hectare) Bloomsvale @ OKR mixed development by Kerjaya Prospek Property Bhd. The hotel's strategic location and luxurious amenities are set to enhance Marriott International’s presence in Malaysia. Launch Announcement Marriott...

RTS Link Project Costs Rise by 29.9% to RM5.24 Billion: Auditor-General’s Report The estimated cost of the Rapid Transit System Link (RTS Link) infrastructure project has surged by 29.9%, reaching RM5.24 billion as of December 31, 2023. This increase, up from the original estimate of RM4.03 billion in January 2018, highlights several key factors driving the escalation in expenses. Reasons for Cost...

Malaysia’s revamped Malaysia My Second Home (MM2H) programme under the "Silver" plan now requires foreign applicants to invest over RM1.3 million by purchasing property worth at least RM600,000 and placing US$150,000 (approximately RM710,000) in a fixed deposit. This change reflects Malaysia’s effort to attract high-value residents. However, Ananth suggests that tapping into the potential of...

Malaysia to Introduce New Cost of Living Indicator by November 2024 In a significant move aimed at providing a more accurate reflection of the financial pressures faced by households, the Malaysian government announced a new indicator to measure the cost of living, set to be introduced by November 2024. This new indicator will complement the existing Consumer Price Index (CPI), which primarily measures...

Singapore has become a hive of activity for mergers and acquisitions (M&A) this quarter, reflecting a return of investor confidence driven by the island nation's relative economic and political stability. Recent significant deals underscore Singapore's position as the focal point for transformative M&A activities in Southeast Asia. Recent M&A Activity in Singapore In the past few days...

PJD Link Project Review: Selangor Government Reconsiders Canceled Highway The Petaling Jaya Dispersal Link (PJD Link) project, which faced cancellation in April, may see a revival according to recent updates from the Selangor government. Infrastructure and agriculture committee chairman Izham Hashim revealed that the federal government has requested a review of the developer's adjustments to the...