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

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

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

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

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

AFTER undergoing a RM5mil conservation work, a budget hotel has been transformed into a cosy boutique hotel with excellent amenities in the heart of George Town, Penang.Exuding a historic charm for those seeking to relax in a place of rich culture, the newly restored Yeng Keng Hotel on Chulia Street ... Read More

The Government is expected to adopt tighter regulations in the 2011 Budget to curb potential dangerous run-up in consumer credit card spending and speculative activities in the property market.“We believe Bank Negara Malaysia (BNM) is focusing on tackling household debt in 2011 to promote healthy credit card spending,” said Kenanga ... Read More

PJ Development Holdings Bhd (PJD) (1945) is set to unveil three new projects worth over RM2 billion next year as it is bullish that market will perform better on pent-up demand for high-end properties. Managing director Wong Ah Chiew said he is confident that the new projects, located in hot ... Read More

Group managing director Tan Sri Leong Hoy Kum said the company is on an aggressive land acquisition trail. For government land, Leong said Mah Sing is open to cooperation with relevant government-linked companies, but he declined to disclose the name of the company it is talking to. "We are confident ... Read More

PETALING JAYA: The property market, especially in the Klang Valley and Penang, are showing signs of getting frothy, so much so that talks about higher tax on property gains are getting louder as Budget 2011 announcement gets nearer.Re-introduced earlier this year at the rate of 5% after a three-year hiatus, ... Read More