The revised national Budget 2023 tabled by the 10th Prime Minister, Datuk Seri Anwar Ibrahim today unveiled the biggest ever allocation of RM388.1 billion, an upward revision from the RM372.3 billion budget announced on Oct 7, 2022. Themed “Membangun Malaysia Madani”, Anwar, who is also the Finance Minister, stressed the government’s aim is to alleviate the rakyat’s struggles amidst the...
The state government has approved in principle the policies for the setting up of the Sabah-Malaysia My Second Home (SBH-MM2H) scheme. “The state cabinet has approved the policies which govern the prerequisites for participation in the programme such as age requirement, medical certification and a fixed deposit account in Sabah,” Minister of Tourism, Culture and Environment Datuk Christina...
The existing National Housing Policy will be reviewed based on the Madani framework, to align with the vision to create a prosperous nation and balance for all Malaysians, according to the Local Government Development Ministry. In a statement issued here on Monday (Jan 23), the ministry said that through the new housing policy and more organised planning, as well as with the cooperation of all housing...
Tropicana Corp Bhd is revising the masterplan for its 308-acre integrated hub, Tropicana Paradise, in Genting Highlands. This is in view of surrounding environmental factors as well as prevailing market demand, according to its announcement with Bursa Malaysia on Friday. “The company plans to recreate another signature Tropicana township at the mid-hills of Genting to continue its business...
The documentation fee for housing loan borrowings has been abolished by local banks following a “notice of cessation to all banks” from Bank Negara Malaysia, according to a report by The Star. The daily reported that notices posted by a number of banks mentioned the directive from Bank Negara, detailing that they must from today “cease charging a fee relating to the provision of housing loan...
Singapore mainboard-listed property developer Oxley Holdings has announced pre-sales of 60% for its Kuala Lumpur project, Jewel by Oxley KLCC. This has totalled $93 million in pre-sales for the developer. Jewel by Oxley KLCC is the 267-unit serviced residence component of the mixed-use development, Oxley Towers KLCC, a freehold project by the Singapore developer. The entire project comprises a...
The Yang di-Pertuan Agong Al-Sultan Abdullah Ri’ayatuddin Al-Mustafa Billah Shah (pictured) wants the government to double its efforts in preserving the well-being of the people and developing the federal territories as distinguished and sustainable cities. His Majesty hoped that assistance to the poor and low income groups in the federal territories can be given special focus by the government by,...
The National House Buyers Association (HBA) applauds the recent directive from Bank Negara Malaysia (BNM) that banks must immediately cease charging “loan documentation fees” on housing loans (for conventional loans) and housing financing (for Islamic financing). The move by BNM for Banks to cease charging these “loan documentation fees” shows that the new unity government under our current...
Sunway Real Estate Investment Trust’s net property income (NPI) for the fourth quarter ended Dec 31, 2022 (4QFY2022) rose 18.8% to RM146.19 million from RM123.1 million a year ago, due to higher revenue and reversal of doubtful debts resulting from improved rental collection in the retail segment. Quarterly revenue increased by 18.34% to RM186.73 million compared to RM157.8 million, the...
Local Government Development Minister Nga Kor Ming found himself and his ministry under attack for wanting to learn from the highly acclaimed Housing & Development Board (HDB) of Singapore. It is incredible how an attempt to improve the Malaysian public housing model, which is totally outdated and no longer feasible, could be viewed in a negative light. Instead of sticking our heads further into...
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