News about ST

PETALING JAYA (May 17): Hillcrest Gardens Sdn Bhd today announced that with immediate effect, selling prices of its latest development, Hillcrest Heights @ Taman Puchong Utama, will be adjusted downwards by 3% to reflect the savings from the zero-rated Goods and Services Tax (GST) announced yesterday by the new government.

KUALA LUMPUR (May 16): Shares of Sarawak state infrastructure facilitator Cahya Mata Sarawak Bhd (CMSB) rose as much as 4.

KUALA LUMPUR (May 16): Ewein Bhd is increasing its stake in Ewein Zenith Sdn Bhd to 89% from 73%, as part of its plan to gain control in the Penang-based property developer, which is currently developing a luxury sea-front residential project worth RM800 million in gross development value.

Construction sector Downgrade to neutral: The surprise election outcome with Pakatan Harapan (PH) winning the election led to a knee-jerk selldown in construction stocks.

S P Setia Bhd (May 15, RM3) Maintain outperform with a target price (TP) of RM4.

PETALING JAYA (May 15): Election pledges made by the new Pakatan Harapan (Pakatan) government regarding affordable housing and the property market at large may hurt the industry as the new government seeks to further control the market which could potentially prevent its self-correction, said Institute for Democracy and Economic Affairs (Ideas) senior fellow Dr Carmelo Ferlito.

KUALA LUMPUR (May 15): Maybank Islamic Bhd’s HouzKEY, Malaysia’s first bank-initiated rent-to-own (RTO) scheme, will launch its second phase which will see the scheme being expanded to cover properties on the secondary market.

KUALA LUMPUR (May 15): New York is known for its high rents, but a recent report revealed that a tenant in Manhattan (pictured) was actually paying US$28.

PETALING JAYA (May 14): Property consultancy Savills Malaysia expects housing prices to firm up in 2019, with real estate developers only able to increase supply by early 2020, following renewed confidence in the market from the new government’s promise of clean and fair governance.

KUALA LUMPUR (May 12): Property developers usually shy away from the topic of property management because they are reluctant to face the issues of homeowners but this has to change, said Real Estate and Housing Developers' Association (Rehda) Institute chairman Datuk Jeffrey Ng.