CMMT provides 14-day rental waiver to non-essential services tenants
The latest measures by CapitaLand and CMMT aims to provide immediate cost and cashflow relief to the affected tenants, it said in a statement.
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Consider tax rebates for SMEs including property management companies
MIPFM president Adzman Shah Mohd Ariffin: Most property management businesses are in the SME category and are operating at competitive fees with slim margins, and some are already facing delayed payments from clients.
COVID-19 MCO: 'Unfit' property developers will fall
Property developers may have a slight buffer from unbilled sales to cushion the near term impact of the MCO but those with high gearing and bad credit record are in a precarious situation, said RHB Research Institute senior analyst Loong Kok Wen.
Housing prices to fall?
The Movement Control Order imposed by the government to stem the spread of the COVID-19 which began on March 18 until April 14 (extended from the initial date of March 31) will see many sectors including the property sector struggling because of limited business activities.
DONE DEAL: Office lot, Oasis Square, Ara Damansara, Petaling Jaya, Selangor
Rented for: RM11,000 per month (RM2.60 psf); Concluded by: Joanne Soh (REN 13124, 012-297 6506) of CBD Properties Sdn Bhd; When: November 2019
Glomac’s 3Q net profit jumps over eight times to RM12.14m
The property developer attributed the significantly increased profitability to contribution from higher margin projects, better performance by the property investment segment and overall administrative cost savings during the period under review, it said in a statement today.
Gamuda 2Q profit rises amid greater contribution from MRT2 project
Gamuda said its engineering segment’s profit rose due to greater profit from the construction of the MRT2 line. Meanwhile, its property development arm saw lower profits due to the higher upfront costs of newer townships in Malaysia.
Glove-makers in Malaysia, the world's largest medic glove producer, warn of chronic shortage if full capacity doesn't resume
“Malaysia is the largest producer of medical gloves in the world and we are duty bound to ensure enough gloves are supplied to the hospitals and to all healthcare givers, in their fight to stave off this pervasive virus. We are expected to deliver about 225 billion pieces this year, which is about 65 % of total world requirements of about 330 billion pieces.”
COVID-19: One more patient dies, Malaysia's death toll rises to 20
The victim was patient No 780, a Malaysian male aged 76 who had attended the Tabligh assembly at the Sri Petaling Mosque.
Office and industrial REITs unlikely to give free rental during MCO period
Unlike some retail-based REITs which are giving free rent to tenants of Pavilion REIT malls operating non-essential services during the MCO (at least until March 31, before the MCO period was extended to April 14), non-retail REITS will probably not follow suit, said an industry source.
