The Real Estate and Housing Developers’ Association (Rehda) Malaysia has urged the federal government to implement an automatic release mechanism for Bumiputera quota units to address various challenges in the housing industry. According to Rehda Malaysia President NK Tong, many developers have already fulfilled the necessary requirements for advertising Bumiputera units for sale for the required...

The Malaysia My Second Home (MM2H) programme has been revised, introducing three new categories and relaxing age requirements. The Platinum, Gold, and Silver categories offer various financial prerequisites and benefits for applicants, including opportunities for property purchases, healthcare, and tourism activities. In a significant development, Datuk Seri Tiong King Sing, the Minister of Tourism, Arts,...

Tropicana Corp Bhd announced unaudited financial results for the third quarter ended Sept 30, 2023, with revenue reaching RM402.8 million. This represents a significant increase of RM81.1 million or 25.2% compared to the same quarter in the previous year when revenue stood at RM321.6 million. The group also reported a profit before tax (PBT) of RM24 million, a nearly five-fold increase from RM5 million in...

Sarawak is gearing up to welcome an estimated four million visitors, targeting RM9.76 billion in tourism revenue in 2024. The optimistic outlook follows a promising trend in tourist arrivals this year. Sarawak's Minister for Tourism, Creative Industry, and Performing Arts, Datuk Seri Abdul Karim Rahman Hamzah, initially projected three million visitor arrivals and RM7.6 billion in revenue for 2023....

When Nvidia Corp CEO Jensen Huang visited Malaysia last week, many anticipated announcements related to potential data center investments. Following his visit to Singapore, where he hinted at an AI supercomputer project, speculation swirled about Nvidia's involvement in similar ventures in Malaysia. Huang met with Singapore Prime Minister Lee Hsien Loong and the Economic Development Board during his...

Sarawak Minister of Tourism, Creative Industry, and Performing Arts, Dato Sri Abdul Karim Rahman Hamzah, has revealed plans to promote the Sarawak-Malaysia My Second Home (S-MM2H) programme to foreigners hailing from countries with four distinct seasons. The initiative aims to attract individuals who seek refuge from cold winter climates and prefer the warm and inviting atmosphere of Sarawak. Minister...

The nearing completion of the Johor Bahru-Singapore Rapid Transit System (RTS) Link has ignited interest among Singaporeans in investing in Johor Bahru's property market. Factors such as the favorable exchange rate, lower cost of living, and strong rental demand have made Johor Bahru an attractive destination for property investment. Key Points: The Johor Bahru-Singapore RTS Link is set to commence...

In a significant milestone, Yang di-Pertuan Agong Al-Sultan Abdullah Ri’ayatuddin Al-Mustafa Billah Shah, accompanied by Raja Permaisuri Agong Tunku Azizah Aminah Maimunah Iskandariah, presided over the official installation of the first track of the East Coast Rail Link (ECRL) project. The momentous ceremony took place at the Section 10 ECRL station site in Gebeng, marking a historic step in the...

Tropicana Corporation is poised to scale up its expansion in Johor, Malaysia, as it aims to unlock 800 acres of premium landbank with a gross development value (GDV) of RM43 billion ($12.3 billion). The move comes in the wake of positive developments in Johor, including significant foreign direct investment, revived high-speed rail plans, and the designation of special economic zones. Tropicana...

The ban on short-term rentals in Penang has had an unexpected consequence: an increase in property values and rental yields. Eastern & Oriental Bhd (E&O) has reported these positive trends, noting that their property developments in Penang were never intended to be marketed primarily as investment opportunities. According to Datuk Tee Eng Ho, the executive chairman of E&O, properties without...