News by M

"We are working towards signing the MoU on July 19, 2016. We are still in the process of confirming the details," a spokesperson from Singapore's Ministry of Transport was quoted as saying.

It will be located on Beach Road (bordering the Central Business District) and close to the Marina Bay entertainment and business districts.   

So while the central bank’s move is in line with the easing policies globally, it is not substantial enough to revive the local property market, which has been tied down not only by tighter lending policies, but also the abolition of the developer interest bearing scheme (DIBS) and the hike in real property gains tax (RPGT).

Real estate investment trust (REIT) prices rose in early trades on Bursa Malaysia yesterday following Bank Negara Malaysia’s move to cut the overnight policy rate (OPR), but pared gains in the afternoon.

This confirmed a report by The Edge weekly on July 11, which pointed to one of the anticipated proposals, that is, allowing REITs to acquire vacant land and undertake property development subject to a cap of 15% of their total asset value. In comparison, the cap for property developments by Singapore REITs in the republic currently stands at 25% of total assets.

Only 2,000 borrowers took advantage of the scheme from BSN since it was launched last July.

Bank Negara Malaysia's cutting of the overnight policy rate (OPR) from 3.25% to 3% yesterday can boost the people’s consuming power, especially for property, Bernama reported Datuk Tan Hong Lai, Green Target Group managing director and CEO saying today.

At RM1.11, UEM Sunrise has a market capitalisation of RM4.95 billion.

HLIB analyst Lee Meng Horng said the OPR cut will bode well for M-REITs, as monetary easing spurs equity inventors to move into yield assets which are often sought after by investors during monetary easing due to its stability and high yielding nature, despite its average yield being compressed to 6.2%.

Presenting its alternative PTMP at a press conference yesterday, Penang Forum said building the trams and BRTs would also take less time.