News

When purchasing a home, most people rely on loans from banks to finance their dream. Just like shopping for a perfect pair of shoes, there are various mortgage options available in Malaysia. To help you choose the best fit, here's a list of basic mortgage plans and some essential information to consider. 1. Term/Conventional/Fixed-Rate Home Loan Best for: Those with a fixed monthly income who want...

Fitch Ratings has revised its revenue expectations for Genting Malaysia, operator of Resorts World Genting in Malaysia, casinos in New York, and Europe. The adjustment, which sees a 5% reduction on average for 2023 and 2024, is attributed to the slower-than-expected recovery observed in the first half of this year. Despite this revision, Fitch maintains Genting Malaysia's Long-Term Issuer Default Rating...

The number of centi-millionaires worldwide has reached a remarkable 28,420 individuals, more than doubling in the past two decades, according to the 2023 Centi-Millionaire Report released by Henley & Partners, a prominent wealth and investment migration advisory firm. This exclusive report draws on data from New World Wealth, a global wealth intelligence firm. It reveals that the centi-millionaire...

The Penang state government is optimistic that all projects earmarked for the state in the 12th Malaysia Plan (12MP) will proceed as planned under Budget 2024, set to be tabled on October 13. Chief Minister Chow Kon Yeow conveyed his expectation for the implementation of all the listed projects, emphasizing that there are no specific requests or special requirements from the state. Penang has secured...

Former Finance Minister Lim Guan Eng has proposed the establishment of a special financial zone in northern Penang, similar to the one in Forest City, Johor. Lim, who is also the Member of Parliament for Bagan, believes that Penang's mature manufacturing industry base can drive development and stimulate growth in the service sector, benefiting not only the northern region but the entire country. In a...

The Food Merchant, renowned for its unique gastronomy concepts, is set to open its sixth outlet with an innovative twist - The Food Merchant Prelude. This concept store, exclusively located at Pavilion Damansara Heights, is a testament to the brand's commitment to culinary excellence and premium grocery offerings. As an anchor tenant in Pavilion Damansara Heights, The Food Merchant Prelude introduces a...

Pavilion Damansara Heights Mall, a significant component of the Pavilion Damansara Heights integrated development, has officially opened its doors to the public with the launch of its highly anticipated first phase. This initial phase introduces visitors to a meticulously curated selection of specialty stores, diverse dining experiences, and essential lifestyle services. The progressive openings planned...

China's property market continues to struggle despite government stimulus measures aimed at reviving the sector. Homebuyers, concerned about the uncertain economic outlook, are staying cautious, and property developers report soft sales. While the Chinese government has implemented policies to support the property market amid a deepening debt crisis in the sector, these measures have yet to significantly...

Selangor Menteri Besar Datuk Seri Amirudin Shari welcomed the announcement by Local Government Development Minister Nga Kor Ming, confirming the upgrade of Klang Municipal Council (MPK) to city status. Klang will become the fourth city in Selangor, following Petaling Jaya, Shah Alam, and Subang Jaya, enhancing the efforts towards establishing a Greater Klang Valley administration. Amirudin expressed that...

Hong Kong is anticipated to announce reduced stamp duties for certain property transactions in its annual policy statement. Chief Executive John Lee revealed that the focus would be on stimulating the economy and improving livelihoods. In the property market, Lee is expected to trim stamp duties for some transactions, although not all. The business community and homeowners have been calling for a rollback...