What ails the Malaysian residential property sector
Owning a home is a dream of most Malaysians but, for many, it remains elusive.
Retiree claims HSBC failed in duty to prevent him from being a victim of scams
KUALA LUMPUR (June 30 ): Retiree Lee Cheong Chee, 55, is suing HSBC Bank Malaysia Bhd for negligence, saying the bank did not advise him against going ahead with transactions that “it could have deduced to be fraudulent”, the Malay Mail reported today.
No cash-flow impact seen on Gamuda if govt aborts highway takeover plan — analyst
KUALA LUMPUR (June 25): Should the government cancel its plan to take over the four tolled highways that Gamuda Bhd has majority stakes in, it will have no impact on the group’s cash flow, said an analyst who tracks the company.
Malaysia will ride out COVID-19 storm better than others, says World Bank
KUALA LUMPUR (June 26): The World Bank is confident of Malaysia's fiscal resilience to withstand the onslaught of the economic crisis caused by the COVID-19 pandemic.
Malaysia's stimulus packages have softened COVID-19 impact on economy, said Mustapa
KUALA LUMPUR (June 26): The Government’s stimulus packages and the short-term economic recovery plan have softened the impact of the COVID-19 pandemic and paved the path towards economic recovery, said Minister in the Prime Minister’s Department (Economy), Datuk Seri Mustapa Mohamed.
May's deflation not a reason for another OPR cut — economists
KUALA LUMPUR (June 25): Malaysia recorded yet another deflation in May — the third monthly deflation in a row — but this is no reason for Bank Negara Malaysia to further cut the Overnight Policy Rate (OPR), said economists.
BNM appoints Marzunisham Omar as deputy governor, Norhana Endut as assistant governor
KUALA LUMPUR (June 12): Marzunisham Omar was today named as a deputy governor of Bank Negara Malaysia (BNM) for a three-year term, effective June 15.
Maybank sued for ‘thwarting’ luxury Tribeca condo tower
NEW YORK (June 11): The developer of a 43-story luxury condo building in Manhattan’s Tribeca neighborhood sued Malaysia’s biggest bank for reneging on agreements to provide more than US$162 million (RM689 million) in syndicated construction loans and “effectively thwarting” the project, Bloomberg reported today.
Banks offer additional RM2b SME loans at 3.5% subsidised rate
KUALA LUMPUR (June 5): Besides loan moratorium, banks are offering an additional RM2 billion under the Penjana SME Financing to assist SMEs adversely impacted by Covid-19.
Brand new properties going under the hammer
Bank Negara Malaysia’s (BNM) automatic six-month moratorium on all bank loans will benefit property owners with mortgages, but what happens after the moratorium ends? Read also Uncovering the bargains on EdgeProp.
