News

BMI Country Risk & Industry Research (BMI), a unit of Fitch Solutions, has revised its end-2024 forecast for the ringgit to RM4.00 per USD, up from its previous estimate of RM4.55 per USD, reflecting the currency’s robust performance in Q3 2024. The revision comes amid narrowing yield differentials with the United States (US) and a relatively resilient growth outlook for Malaysia. Positive...

Malaysia is experiencing a significant increase in interest from Chinese nationals for luxury homes, driven by attractive investment opportunities and a thriving education sector. Prime locations in Kuala Lumpur, such as the Central Business District (CBD), Bukit Damansara, Bangsar, and Kenny Hills, are now at the forefront of this trend. Real estate firms have reported that the interest in Malaysian...

Starting from October 1, 2024, Singapore-registered vehicles entering Johor without a Vehicle Entry Permit (VEP) can continue to do so as usual, but enforcement of the VEP requirement will begin in phases, according to the Road Transport Department (JPJ). Phased Implementation of VEP In the first phase, Singaporean vehicles without the required RFID VEP tags can still enter Malaysia without any...

The strengthening of the ringgit against the US dollar, driven by positive macroeconomic developments and Bank Negara Malaysia's (BNM) decision to maintain the Overnight Policy Rate (OPR) at 3.00%, is set to invigorate Malaysia’s property market. This presents a unique opportunity for homebuyers and investors to capitalize on favorable conditions. Positive Effects of a Strengthened Ringgit on Property...

Magma Group Bhd (KL) has announced a key acquisition that strengthens its foothold in the Kuala Lumpur property market. The hospitality and property development firm is purchasing a 2.26-acre plot of land in the Persiaran Dutamas area for RM80 million, with plans to develop serviced apartments and commercial spaces. Notably, former national badminton icon Lee Chong Wei will emerge as a significant...

The Mass Rapid Transit (MRT) Circle Line, also known as MRT3, is set to transform the Klang Valley’s transportation network by offering enhanced connectivity to various parts of the city. The 51km route, scheduled for completion in 2032, will integrate with existing MRT, LRT, KTM, and Monorail lines, providing quicker commutes and easier access to areas previously underserved by public transport. This...

Foreign investors continued their positive trend in Malaysian equities, marking the sixth consecutive week of net inflows, with a total of RM271.5 million recorded for the week ending September 20, 2024. According to MIDF Amanah Investment Bank Bhd (MIDF), the sustained buying momentum signals confidence in Malaysia's stock market, supported by foreign interest across key sectors like financial services...

Over the years, Sabah and Sarawak have increasingly pushed for greater autonomy and equal partnership within Malaysia, as envisioned under the Malaysia Agreement 1963 (MA63). This momentum has grown, with many in these two East Malaysian states calling for more control over resources, development, and decision-making power. In light of the political landscape following the 2022 general election, these...

The Malaysian government has introduced a series of tax incentives to accelerate the development of Forest City as a key financial hub. Located in Johor, this 1,400-hectare private development has struggled to meet its ambitious growth targets since its inception, but these new incentives aim to position Forest City as a global financial and economic hub. Special Corporate Tax Rates and Personal Income...

As we look ahead to the second half of 2024, several key factors will shape Malaysia's foreign investment landscape, with significant implications for the nation's economic performance. While the first half of 2024 (1H2024) showcased promising growth in Foreign Direct Investment (FDI), especially in technology and manufacturing sectors, the real challenge lies in materializing these approved investments to...