Signature International Bhd, a kitchen cabinet maker, has announced the sale of its aluminium and facade businesses for RM17.53 million in response to increasing challenges in the construction market, including cost overruns and rising project material costs. The proceeds from the divestment will be utilized for working capital and repayment of bank borrowings, according to Signature's filing with Bursa...
IGB Bhd is expecting a positive turn in its hotel sector, largely driven by the reopening of its 390-room Boulevard hotel nestled in Mid Valley City, scheduled for July 2023. The company's hotel segment will also be boosted by a year-round contribution from St. Giles Southkey hotel in Johor Bahru, which commenced operations on August 31, 2022. The St. Giles Southkey is part of the Mid Valley Southkey,...
Is short-term rental accommodation (STRA) a feasible answer to the nation's rental and property excess concerns? Turning unused property into STRA may offer homeowners a viable option to generate supplemental income to cover their monthly mortgage expenses, despite it possibly causing inconvenience for other unit owners, suggests Albert Tan, a financial adviser with expertise in real estate dealings. Tan...
In the latest development involving the Malaysia My Second Home (MM2H), the government will “set the requirements” to divide the programme into three categories. Tourism, Arts and Culture (Motac) minister Datuk Seri Tiong King Sing said each of the three categories, Platinum, Gold, and Silver, will require a different amount of permanent applicants’ savings, The Star reported. "We will review the...
PropNex Malaysia is thrilled to announce the highly anticipated launch of the PropNex Monopoly Championship, following the success of their own version of the renowned Monopoly board game introduced in Singapore under a licensing agreement with Hasbro. This championship in Malaysia features a specially designed Monopoly board adorned with iconic landmarks and street names that are familiar to...
Shah Alam, Selangor’s capital, is a focal point of many existing and new infrastructure developments. The state still experiences the most property transactions. Key players in the property industry remain confident of Selangor’s continued status as a prime investment area, with no signs of the trend changing. Selangor’s prominence was well-recorded even during the pandemic, when in 2021,...
Property developers in West Malaysia reported a 26% decline in unit launches and a 5% sales drop in the first half of 2022 (1H2022) from the second half of last year (2H2021), according to Real Estate and Housing Developers’ Association (Rehda) Malaysia. Rehda’s survey of 150 respondents released on Wednesday (Oct 12) found that 7,843 units were launched in 1H2022, of which 45% or 3,549 units were...
Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz has tabled Budget 2023 on Friday, Oct 7. This year’s theme is “Strengthening Recovery and Facilitating Reforms towards Sustainability of Economic Resilience and Wellbeing of Keluarga Malaysia”. What’s in it for homeowners and property buyers? Let’s take a look at what changed or improved from 2022 versus Budget...
The general reaction towards the government’s new Premium Visa Programme (PVIP) is positive but an academic feels that there is “confusion” over how Putrajaya wants to attract wealthy foreigners to invest and reside in the country. “Well, my hope is that the introduction of the new programme is a way to reform MM2H and to make it less stringent, as the requirements for this PVIP programme...
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