PETALING JAYA: Bank Negara is studying the risks arising from the developer interest-bearing scheme (DIBS) with a view of potentially imposing curbs on it, sources said. Although it is unclear if or when such curbs would be put in place, Hong Leong Investment Bank (HLIB) said that it may be ... Read More

In recent times, the redraw facility has become a common feature in most home loan packages in Malaysia.  Whilst the concept of redraw is relatively simple to understand for most seasoned home buyers; a new home buyer may find this term slightly confusing as it really isn’t something you see ... Read More

KUALA LUMPUR: Penang-based Ivory Properties Group Bhd will start work on phases three to five of its Penang Times Square project, which includes a five-star hotel, by year-end. Group chief executive officer Datuk Low Eng Hock said the three phases would cover 1.5 million sq ft, including a five-star hotel. In a statement issued ... Read More

Nadayu Properties Bhd aims to launch three projects worth over RM800 million in the Klang Valley and Penang within six to 10 months to grow the group and build its brand. The developer will be launching Nadayu 99 in Cyberjaya, Superlinks@Nadayu Melawati in Ampang and Nadayu 290, Bukit Gambir in ... Read More

GEORGE TOWN: Property developer, Tambun Indah Land Bhd, plans to spend RM100 million to RM200mil in capital expenditure (capex) this year to buy more land. Managing Director Teh Kiak Seng said the group was actively scouting for land in Penang especially in Seberang Perai. "We will spend to expand our landbank based ... Read More

I recently went to a SOHO launch where the developer offered a 10% rebate and DIBS (developers’ interest-bearing scheme) package. With regards to the rebate, 10% of the selling price will be waived provided the sale and purchase agreement (SPA) is signed within a certain period. I understand that the rebate ... Read More

GEORGE TOWN: The Penang Municipal Council (MPPP) has issued a stop work order on a hill-slope housing project in Paya Terubong with immediate effect. The construction site behind the residential area in Lebuh Rambai 6, has been the cause of mudflow to the houses nearby. MPPP said the notice was ... Read More

THE Seberang Prai Municipal Council (MPSP) has given the necessary clearance for the construction of the Jit Sin High School Bukit Mertajam’s branch school in Valdor, south Seberang Prai. Municipal councillor Teoh Seang Hooi said the RM30mil building plan was unanimously passed and endorsed in a full council meeting at ... Read More

SP Setia Bhd Group’s annual ‘Setia 4U Showcase’ is back at Gurney Plaza, Penang. The four-day exhibition, at the mall’s atrium, opened yesterday and will be on from 10am to 10pm daily until Sunday. Visitors and investors flocked to the expo to find out more about the developer’s prime projects ... Read More

The short answer is: No, you don’t need a lawyer when you do a property transaction. Everything about conveyancing is spelt out in the National Land Code 1965, Stamp Act 1949, Housing Development (Control and Licensing) Act 1966, Strata Titles Act 1985, Banking and Financial Institutions Act 1989, and a ... Read More