News by Lai Ying Yi

The plots were sold to property developer Paramount Property (Utara) Sdn Bhd.

MCT said the issues that plagued the property market such as market overhang, price unaffordability and lack of financing are expected to persist.

In a filing, BCorp said it holds a controlling stake in the joint venture with Marubeni Corporation and Daiwa House Industry Co Ltd to undertake the project.

In a Singapore bourse filing yesterday, YTL Starhill Global REIT said the “Series 001” notes will bear interest at a fixed rate of 3.15% per annum, payable semi-annually in arrear, will have a tenure of 5 years, while the maturity date of the bond is fixed on June 5, 2025.

Adding to the woes, the casino operator recognised a loss of RM100.1 million relating to its stake in financially stressed Empire Resorts Inc, a casino it acquired from controlling shareholder Tan Sri Lim Kok Thay last year.

This marks the property developer’s eighth consecutive loss-making quarter.

The MoF hopes this decision will ease the burden of the people during the current difficult time.

In a note today, HLIB analyst Andrew Lim Ken-Wern said that as the outbreak takes its toll on the broader economy, 2020 may record a dip in property transaction volume if developers do not maintain sufficient discounts to entice buyers.

CGS-CIMB economists Michelle Chia and Lim Yee Ping wrote in a note that the nation’s monetary policy is likely to become more accommodative and CGS-CIMB expects BNM to reduce the OPR by 50bps this May, followed by a further 25bps cut in the second half of 2020.

MRMA said Malaysian REITS (M-REITs) are burdened by operational expenditure and capital and financial commitments amid the closure of business premises during the Movement Control Order (MCO).