US firms choose Malaysia
Kagan: ‘They are looking at Malaysia because of its legal and physical infrastructure, geographical location, capability to undertake research and development activities and skilled workforce.
Malaysia is now the choice location for US companies that want to diversify in Asia.
Deputy chief of mission of the US Embassy in Kuala Lumpur Edgard D. Kagan toldStarBiz that there were also companies in China that wanted another location in Asia to set up a platform.
“They are looking at Malaysia because of its legal and physical infrastructure, geographical location, capability to undertake research and development (R&D) activities and skilled workforce,” he said.
Also present at the interview were commercial officer Paul V Oliva, economic affairs counselor Andrew R Herrup and public affairs counselor Frank Whitaker.
Kagan said Malaysia, specifically Penang, was now being seen as a choice location for R&D activities.
“We can see an increasing number of US companies that have chosen Penang as a destination for their knowledge-based content here, taking advantage of the skilled workforce and infrastructure,” Kagan added.
Kagan said over the past few years, there has also been a trend of Asian companies looking to the United States to invest rather than just as a place to sell.
“They have found that doing business in the United States can be very cost-effective due to the structural benefits and the market size, especially when the cost of doing business in Asia has risen over the years,” he said.
Meanwhile, Oliva said there were currently some 34 Malaysian companies in the United States negotiating to purchase rights to distribute American films and television programmes and talking to production companies to co-produce films. Oliva said the United States was Malaysia’s fourth-largest trading partner after Singapore, China and Japan.
“Malaysia is the United States’ 22nd largest trading partner,” he said.
Oliva said the top US products to Malaysia included integrated circuits, aircraft and parts, telephone equipment, semiconductors and light-emitting diodes, and scientific equipment.
In 2013, the value of bilateral trade between Malaysia and the United States was at US$44.2bil (RM147.98bil).
The sale of US goods and services to Malaysia was at US$15.5bil, while the export of Malaysian goods and services to the United States was at US$28.7bil.
Source: StarProperty.my
Any idea or someone heard name of MNC coming here?
Hopefully more to come here with high value add and pay too….to spur the Penang growth
Bringing more jobs and higher income alone is not enough. Look at Hong Kong & Singapore, plenty of jobs with high pay, but the people still suffer. Why? Because they did not control property prices tight enough. Singapore has started to do more control recently.
A new report on Spore property prices shows that……”Prices of some condominiums slumped as much as 45 percent from 2007, when they were first sold, at auctions earlier this year by banks that repossessed them, according to Maybank Kim Eng…….A bungalow on 11,280 square feet of land on Treasure Island in Sentosa Cove was sold for 53 percent below the peak this year, while a 7,341-square-foot property on Paradise Island was priced 39 percent below the record S$3,214 per square foot, URA data showed…..”
Don’t keep dreaming !!!!
@Fiona. Dont look at niche market. This is not true representative of the majority of Singapore market. Mass market price only drop a little and just this month alone price of HDB has increased marginally. By the way, if I had bought a single storey terrace at Serangoon Gardens back in 2008 (price then was $1.28m), today I could sell it at $3m. My friend sold his semi d at the same estate 6 months back for $4.8m. By the way, in case you dont know, foreigners can only buy Sentosa Island landed because Government doesnt allow any foreigner to buy landed on main island. So these foreigners think buying Sentosa landed is still good. Well good for those who bought from developer last time. No good for 2nd owners coz all these bungalows are 99 year leasehold!
@best
Here you go, latest report, hehehe :-
Bigger slide in prices for landed property
LANDED homes are taking more of a hit than apartments in the lacklustre property market, with prices falling and demand drying up.
The price index for landed property has fallen 5.1 per cent over the past four quarters, well in excess of the 3.3 per cent slide in the non-landed index, according to the Urban Redevelopment Authority (URA) in Spore.
“It was previously thought that the landed segment, which has so little new supply and strong demand, might be more resilient than other segments,” said JLL national research director.
@best
Here you go, latest report, hehehe :-
BIGGER SLIDE IN PRICES FOR LANDED PROPERTY
LANDED homes are taking more of a hit than apartments in the lacklustre property market, with prices falling and demand drying up.
The price index for landed property has fallen 5.1 per cent over the past four quarters, well in excess of the 3.3 per cent slide in the non-landed index, according to URA in Spore.
Oh my… 3.3% drop is soooo scary!! The biggest drop over 1 year is 5.1% for the high end properties and this comes after 5 years of cooling measures. Unless major event like recession, Lehman type of saga happens, I think to see the price move down 20% is no way going to happen. Continue dreaming…
The statistics reported is always moderated by averaging effect. So you could see a drop ranging from 25% to 0.1% within this period for various transaction. Same goes when the price is on an uptrend. Statistics always says an increase of 6-8%, but in the field, you actually see some home price in prime locations doubling up.
A Bloomberg analysis :-
Nov 13, 2014
Singapore May Face Housing Fire Sales With Curbs, Developer Says
Singapore’s housing market may face “fire sales” with mortgage defaults as the government’s property curbs hurt home sales and prices, the city-state’s second-biggest developer said……“If this trend continues, with prices dipping more, some mortgage borrowers affected by lower rentals, may have difficulty servicing their loans, possibly leading to forced fire sales,” the company said in a statement yesterday, adding that the curbs will “weigh heavily on the market.”