News

Bank Negara Malaysia Enforces Amendments to Money Services Business Act Bank Negara Malaysia (BNM) has announced the enforcement of the Money Services Business (Amendment) Act 2024 (MSBA 2024) effective today. These amendments aim to bolster BNM's ability to implement stringent enforcement actions against illegal operators within the money services business (MSB) industry, thereby enhancing the sector's...

Bamboo Hills Residences: A New Landmark in Subang Jaya UOA Development Bhd has unveiled Bamboo Hills Residences, a new addition to the expansive 27.51-acre Bamboo Hills development along DUKE Highway and Jalan Ipoh. This project offers 2- and 3-bedroom apartments with built-ups ranging from 603 to 904 square feet, starting at RM393,000. As a transit-oriented development (TOD), Bamboo Hills Residences...

Largest Hard Rock Hotel in Asia to Open in Genting Highlands by 2027 A historic milestone was achieved with the announcement that the largest Hard Rock Hotel in Asia will open in Genting Highlands in 2027. On October 14, HR Hotel & Residences Sdn Bhd and Hard Rock International announced their partnership after signing an agreement to build the hotel. A New Landmark in Genting Highlands The new...

Malaysia My Second Home (MM2H) Scheme: Stricter Guidelines Impact Popularity The Malaysia My Second Home (MM2H) scheme, once a highly sought-after program for foreigners seeking long-term residency in Malaysia, has seen a significant decline in popularity over recent years. This downturn can be attributed to several revisions and stricter guidelines introduced under the revamped version of the program,...

Majestic Gen Sdn Bhd Tops Out Majestic Residence: A New Landmark in Kuala Lumpur Majestic Gen Sdn Bhd (formerly known as Majestic Builders of the Majestic Group) recently celebrated a significant milestone with the topping-out ceremony of Majestic Residence. This high-rise luxury residential development is strategically located on Jalan Dewan Sultan Sulaiman and is slated for completion by the first...

Challenges and Opportunities in Malaysia's Shopping Mall Boom Malaysia is experiencing a paradoxical trend in its retail sector. Despite the proliferation of new shopping malls, many existing complexes are struggling to attract customers and tenants. This situation presents both challenges and opportunities for mall owners, tenants, and the broader retail landscape. The Current Landscape In Malaysia,...

Malaysians Withdraw RM7.81 Billion from EPF After Pension Fund Restructuring Malaysians have withdrawn a significant RM7.81 billion (US$1.66 billion) from their retirement savings following the restructuring of the country’s national pension fund, the Employees Provident Fund (EPF), in May. This figure, recorded as of June 24, marks an increase from RM6.98 billion withdrawn as of June 10. The EPF...

Berjaya Land Unveils Premium Jesselton Courtyard Residential Development in Penang Berjaya Land Development Sdn Bhd has introduced a new premium landed residential development, Jesselton Courtyard, located at Jesselton Selatan in Georgetown, Penang. This project, with an estimated gross development value of RM862.7 million, promises to offer luxurious living in one of Penang Island’s most sought-after...

Why Malaysia is Embracing Electric Vehicles: Addressing Climate Change and Efficiency Recently, a reader questioned the rationale behind Malaysia's vigorous promotion of electric vehicles (EVs), hinting at a possible conspiracy. Let's delve into the reasons why Malaysia is keen to adopt EVs and dispel any misconceptions. The Climate Change Imperative The story begins with alarming changes in long-term...

Malaysian Construction Sector Poised for Significant Growth in 2H24 The construction sector in Malaysia is gearing up for a substantial acceleration in the second half of this year, propelled by the long-awaited rollout of major infrastructure projects. Following a robust performance in the first half of 2024, the sector is expected to surpass RM40 billion in contract awards this year, marking the highest...