News by M

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.

The city has been sort of underrated over the years as a tourist spot in Malaysia, with the Pearl of the Orient, Penang; and historical Melaka hogging the limelight in the peninsula and Land Below the Wind, Sarawak across the South China Sea drawing in visitors.

Hotels are so last year. So much better to get into the culture of a country by living in one of the people’s homes. But what happens when the same people get all worked up by your presence?   

The province’s “action plan” to meet this goal include “easing restrictions on residents buying properties in other cities, encouraging migrant workers to buy urban homes, and reducing land supply in cities that face mounting inventories”.

This confirmed a report by The Edge Financial Daily on Monday, which said the company was looking at a potential sale of the land for some RM130 million.