Maintain “hold” with revised target price of RM2. Excluding exceptional items of RM103 million, E&O’s fourth quarter financial year 2015 (4QFY15) core earnings came in at only RM3.4 million. This takes FY15 core profit to RM43 million, which is significantly below consensus’ and our projection as we had earlier expected a ... Read More

Bank Negara Malaysia (BNM) has reiterated that there has been no tightening of policy for first-time home buyers. However, its governor Tan Sri Dr Zeti Akhtar Aziz said all borrowers need to be credit-worthy and therefore, there is an affordability test. "If a borrower can demonstrate that they have income ... Read More

The state government is delivering its promise of providing affordable homes to Penangites, said Housing, Town and Country Planning Committee chairman Jagdeep Singh Deo. Out of the 12 planned projects comprising 22,512 units, four are already in progress in Bandar Cassia on the mainland, as well as Teluk Kumbar, Kampung ... Read More

Connectivity & Accessibility More than 30 years ago, before the Penang Bridge was built, it was a big thing for people from mainland to go to the island. Property investment in the Island vs mainland was hardly discussed because travelling to the other side of Penang taking ferry on a ... Read More

Tougher credit checks on potential buyers and lending curbs imposed by Bank Negara is distorting the market, claims a top official at Malaysia’s biggest grouping of property developers. Real Estate and Housing Developers’ Association (Rehda) Malaysia reveals that due to the high rejection rates of housing loan applications, many developers ... Read More

G' Mansion Garden Residence, high-rise development by MPSB Venture Sdn. Bhd. at Bukit Gambier, Penang. It is strategically located next to Gambier Heights Apartments, easily accessible via Jalan Bukit Gambier. This development comprises a 34-storey condominium, featuring 282 residential units with 8-level multi-storey carpark. Each unit is expected to come with ... Read More

YTL Land and Development Bhd sold the final units of its low-rise condominium project – Penang Shorefront – at a preview last weekend. YTL Land and Development executive director Datuk Yeoh Seok Kian remarked: "It’s amazing to witness the way the market responded to our Shorefront project, a niche upmarket, ... Read More

Land scarcity or abundant, which one is better? Scarcity of land is one of the most common explanations given by those looking to invest or having invested into a property in Penang Island. Many people seem to have convinced that since the island is running out of development land, prices ... Read More

Property transactions seen declining, prices to remain flattish THE property market has been in a grind this year and according to projections, it’s not about to free up any time soon. According to a report early this year by research house JF Apex Research, property transactions are expected to decline ... Read More

Developers who carry out earthworks without approvals or permits from the Penang Island City Council (MBPP) could face the possibility of having their applications for future development projects frozen for five to 10 years. Local Government Committee chairman Chow Kon Yeow (DAP - Padang Kota) suggested that stringent action be ... Read More