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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

First home scheme to attract young buyers

PETALING JAYA: To promote home ownership among Malaysians, the Government has proposed to introduce First Home Scheme whereby Cagamas Bhd will provide a guarantee on the 10% down-payment for houses priced below RM220,000.The scheme is for first-time house buyers with monthly household income of less than RM3,000. It is aimed ... Read More

Boutique hotel with historic charm From a bungalow to a budget hotel, the building is restored to its original form

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

Mayland plans RM2b maiden project in Penang

MALAYSIA Land Properties Sdn Bhd (Mayland) aims to launch its maiden project in Penang, a high-end seafront mixed development worth more than RM2 billion by 2013. The company is looking at buying 12ha in Penang island, some of which will include reclaimed land, said its director Andrew Chiu. "We want ... Read More

Tighter BNM rules on property sector likely

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

PJD to launch projects worth RM2b next year

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

Mah Sing on aggressive land acquisition trail

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

Increase in property gains tax unlikely

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