News About banks

0% interest on first RM100,000 of housing loans for bank employees

Jan 10

KUALA LUMPUR (Jan 10): Some 20,000 bank employees consisting of clerical and non-clerical categories from 20 banks will enjoy 0% interest on their housing loans for the first RM100,000.

Budget 2019: Property sector biggest winner of Budget 2019, says Maybank chief

Nov 02

KUALA LUMPUR (Nov 2): Malayan Banking Bhd (Maybank) sees the property sector as the biggest winner of Budget 2019, with a variety of measures ranging from specific allocations for supply – financing of first-time purchases – of affordable housing, as well as stamp duty exemptions and property crowdfunding to help the industry clear the supply overhang, placing it on a path to sustainable growth.

BNM keeps OPR at 3.25%, says positive growth expected to be sustained

Jul 11

KUALA LUMPUR (July 11): Bank Negara Malaysia (BNM) has maintained the overnight policy rate (OPR) at 3.

HBA: Allow EPF to offer home loans to members

Jun 19

PETALING JAYA (June 19): The National House Buyers Association (HBA) is urging the government to allow the Employees’ Provident Fund (EPF) to extend financing for home purchases – particularly of affordable units – to eligible members, reported Free Malaysia Today.

Easing home loan rules risky, say analysts

Jun 14

PETALING JAYA (June 14): The new government’s apparent intention to ease lending rules for home purchases may introduce additional risks to banks, analysts told The Edge weekly.

Commercial banks to reduce GST rate to 0% tomorrow — ABM

May 31

KUALA LUMPUR (May 31): Commercial banks in Malaysia will reduce the goods and services tax (GST) rate to 0% tomorrow (June 1), from 6% at present.

Commercial property glut poses risk for M’sian banks

Mar 12

KUALA LUMPUR (March 12): Banks may face risks on their commercial property loans, as a looming oversupply of office buildings and shopping malls may lead to a correction in valuations, said a Reuters story citing a report by Moody’s dated March 9.

‘Banks should be stricter with new developments’

Feb 13

KUALA LUMPUR (Feb 13): Banks should conduct tighter checks and commission their own independent feasibility studies on developers’ proposed projects before deciding to grant financing, says property consulting firm Rahim & Co International Sdn Bhd.

‘Find alternatives to development freeze to deal with glut’

Feb 12

KUALA LUMPUR (Feb 12): Development freeze is never a good thing to do because free trade is interrupted, according to Rahim & Co International Sdn Bhd estate agency director Robert Ang.