News

In a decisive move to safeguard the integrity of the People's Housing Project (PPR), Kuala Lumpur City Hall (DBKL) has announced the immediate termination of contracts for nominees or tenants found renting out their units to foreigners. Ismadi Sakirin, DBKL's Chief Executive of Socioeconomic Development, emphasized the authority's stern stance against such violations, underscoring that profiteering from...

In a significant development for Malaysia's financial landscape, Prime Minister Datuk Seri Anwar Ibrahim announced a series of enticing incentives aimed at attracting companies to the newly established Tun Razak Exchange (TRX) in Kuala Lumpur. The announcement was made during an official launch event, marking a pivotal moment in Malaysia's ambition to establish a leading global financial district. Key...

The anticipated Johor-Singapore Special Economic Zone (SEZ), announced at the Joint Ministerial Committee for Iskandar Malaysia (JMCIM), has sparked excitement and high expectations on both sides of the border. Dr. Ong Kian Ming, a former deputy international trade and industry minister, provided a detailed list of proposals to enhance the bilateral relationship and economic collaboration between Malaysia...

In the competitive landscape of Malaysia's property market, 'free legal fees' is a tantalizing offer made by developers to attract buyers. However, this perk, commonly seen as a financial relief for potential homeowners, warrants a deeper analysis to uncover its actual benefits and implications. What Does 'Free Legal Fees' Really Mean? At face value, 'free legal fees' implies that the developer covers...

As 2024 unfolds, the Malaysian property market presents a mixed bag of challenges and opportunities, keeping potential investors on their toes. The financial stretch in major cities continues to hinder homeownership dreams, particularly for the younger generation, who grapple with property prices far exceeding their annual household income. Amidst these hurdles, certain areas and segments of the property...

In major Malaysian cities, the dream of homeownership remains elusive for many, particularly the younger generation, due to a stark mismatch between median property prices and household incomes. Despite government initiatives like the National Affordable Housing Policy aimed at addressing this issue holistically, a significant overhang of unsold properties valued at RM18.42 billion as of the end of 2022...

Malaysia is confronting a dual housing challenge marked by soaring property prices and a substantial inventory of unsold properties. Despite improved overall sentiment, the majority of the population, including middle and lower-income groups, finds homeownership increasingly out of reach. Simultaneously, the country is grappling with an overhang of 27,746 units valued at RM18.42 billion as of the end of...

Shares of Avillion Bhd, a prominent integrated travel, hotel, and property group, witnessed a decline of 8.3% or half a sen in early Tuesday trading. This downturn occurred in the wake of heightened investor attention following the charging of former finance minister Tun Daim Zainuddin in court on Monday. Avillion, along with 23 of its subsidiaries, was listed among the 71 assets included in the Malaysian...

In a landmark ruling, a Hong Kong court has mandated the liquidation of China Evergrande Group, the world's most indebted property developer, as reported by German news agency (dpa). The decision, delivered by Judge Linda Chan on Monday, comes after a protracted legal battle with international creditors over missed payments and unsuccessful attempts by the real estate giant to avert liquidation through a...

In a strategic move to amplify its production capabilities, Sarawak Consolidated Industries Bhd (SCIB) has finalized the acquisition of leasehold plots in Demak Laut Industrial Park, Kuching, for RM21.62 million cash. This acquisition, involving 8.85 hectares some 15km from Kuching City Centre, is part of SCIB's initiative to expand its operational capacity, as stated in its earlier announcement on Jan...