AmTrustee Bhd, a trustee of CapitaMalls Malaysia Trust (CMMT), has entered into a conditional sale and purchase agreement on behalf of it, to acquire Penang's Gurney Plaza Extension for RM223.3 million.CMMT is managed by CapitaMalls Malaysia REIT Management Sdn Bhd (CMRM).CMRM chief executive officer Sharon Lim said the purchase is ... Read More

Malaysia’s central bank will probably keep interest rates unchanged for a second consecutive meeting to support its economy as global growth weakens and inflation eases.Bank Negara Malaysia will leave its benchmark overnight policy rate at 2.75 per cent tomorrow, according to all 16 economists surveyed by Bloomberg News. The central ... Read More

PENANG-based furniture exporter Creative Furnishing Sdn Bhd is set to sign several joint-venture arrangements with its suppliers in the region. Its managing director Stanley T.C Chew said the tie-ups are expected to be firmed up by early 2011 and that the move was to ensure that better quality control is ... Read More

KUALA LUMPUR: Mah Sing Group Bhd is confident the local property market is sustainable as the current buying activities are backed by economic fundamentals and genuine purchasers.“Despite Bank Negara’s measure to cap the loan-to-value ratio at 70% for third and subsequent house purchase, the prevailing low interest rate, healthy employment ... Read More

FORMER Kampung Buah Pala residents can expect to move into their new homes by early next year, ahead of schedule.Deputy Chief Minister II Dr P. Ramasamy said that construction of the houses would be completed in January and the families could expect to move in after the occupancy certificate is ... Read More

KUALA LUMPUR: Malaysians have to fork out more money from today to buy more than two houses after Bank Negara slammed the brakes on property speculation.The central bank announced with immediate effect the implementation of a maximum loan-to-value (LTV) ratio of 70% for people buying their third or more house, ... Read More

PETALING JAYA: Bank Negara’s imposition of a maximum loan-to-value ratio (LVR) of 70% for a third and subsequent housing financing facility taken by a borrower is seen as a timely pre-emptive measure to avert unhealthy speculative activities and a potential property bubble, industry players concurred.With the latest measure that takes ... Read More

Malaysia’s central bank placed a limit on the loan-to-value ratio for people taking out third mortgages to buy homes in a bid to moderate “excessive” investment and speculation in urban areas.A maximum lending limit of 70 per cent will take immediate effect, Bank Negara Malaysia, the country’s central bank, said ... Read More

A MARA Skills Institute (IKM) and a government polytechnic will be built in the Tasek Gelugor parliamentary constituency in Penang under the 10th Malaysia Plan (10MP).Tasek Gelugor MP Tan Sri Nor Mohamed Yakcop said the RM50mil institute would be built in Tasek Gelugor town while the Politeknik Metro, to cost ... Read More

THE Northern Corridor Implementation Authority (NCIA) is committed to making Penang the next logistics hub and a dynamic import and export gateway for the Northern Corridor Economic Region (NCER).NCIA chief executive Datuk Redza Rafiq cited the second Penang bridge, Penang International Airport expansion, Penang Sentral Integrated Transport Hub, Penang Port ... Read More