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Mutiara Goodyear bullish on outlook
Executive chairman Hamidon Abdullah said he was bullish on next year's outlook, describing the market as buoyant. Mutiara's new projects in Bandar Sunway, Kajang and Cyberjaya in Selangor and in Butterworth, Penang, are gated communities targeting the middle-to upper-income groups. They are expected to appeal to buyers looking for a ... Read More
Rates hike over next 3-6 months unlikely
Bank Negara Malaysia is likely to pause rates again at its next meeting on Nov 12, says Senior Economist at AmResearch, Manokaran Mottain."With Bank Negara having frontloaded rate hikes in the earlier part of the year, we see greater flexibility in keeping to a neutral stance. In our opinion, there ... Read More
SP Setia to launch four residential projects worth RM546mil
GEORGE TOWN: SP Setia Bhd plans to launch four new residential projects with an estimated gross sales value RM546mil on the island beginning this December and next year. SP Setia property (North) general manager S. Rajoo told StarBiz that the projects comprised the RM175mil Setia Greens, RM60.5mil Brook Residences, RM170mil ... Read More
Ministry wants ‘no down-payment rule’ to cover RM350,000 homes
KUALA LUMPUR: The Housing and Local Government Ministry will propose that the ceiling price of homes that do not require a down-payment for purchase be raised to RM350,000.Minister Datuk Chor Chee Heung is expected to table the proposal at next week’s Cabinet meeting.Chor said that raising the ceiling price would ... Read More
Housing levies under review Move to spur construction of more affordable homes, says CM
GEORGE TOWN: The state government is reviewing the various charges imposed on residential projects priced between RM300,000 and RM350,000 per unit on the island, and RM200,000 and RM250,000 on the mainland.Chief Minister Lim Guan Eng said that the move would encourage developers to build more affordable housing.“Developers should look at ... Read More
Ministry: No property bubble
SHAH ALAM: The Housing and Local Government Ministry does not foresee a property “bubble” in the country, where a rise in prices will be followed by a rapid reduction.Minister Datuk Chor Chee Heung said that so far this year, property prices had increased by 37%, unlike Singapore and Hong Kong ... Read More
'Household debt issue not addressed'
LEADING think-tank Malaysian Institute of Economic Research (Mier) is disappointed that the 2011 Budget did not provide measures to address high household leverage. Executive director Dr Zakaria Abdul Rashid described it as a key disappointment in the Budget, besides the lack of measures such as those to address property speculation ... Read More
MIER concerned with rising household debt
The Malaysian Institute of Economic Research (MIER) is concerned with the rising household debt level which stood at 77 per cent of Gross Domestic Product (GDP) last year.In Bank Negara Malaysia (BNM)'s 2009 annual report, household debt was reported to have risen to 76.6 per cent for the year, the ... Read More
Tambun Indah gets nod to list
Property developer Tambun Indah Land Bhd has received the Securities Commission's (SC) approval to list on the Main Market of Bursa Malaysia Securities Bhd.In a statement today, the company said it has appointed MIMB Investment Bank Bhd adviser, managing underwriter, underwriter and placement agent for the initial public offering (IPO) ... Read More
Ten firms shortlisted for Penang Turf Club project
The turf club is the single largest prime land plot owner in George Town. Mah Sing Group Bhd (8583) group chief executive Tan Sri Leong Hoy Kum confirmed that the company has indicated its interest for the Penang Turf Club land. "We are always on the lookout for good development ... Read More
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