Sunway Pyramid Hotel West renamed Sunway Clio Hotel

PETALING JAYA (Sept 15): Sunway Pyramid Hotel West in Bandar Sunway, Petaling Jaya, will have a brand new name, Sunway Clio Hotel, effective Oct 1 this year, according to Sunway Hotels & Resorts — the hospitality division of property-construction conglomerate Sunway Group.

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Housing Ministry to formulate guidelines for developer lending scheme

KUALA LUMPUR (Sept 14): The Ministry of Urban Wellbeing, Housing, and Local Government has been tasked by the cabinet to formulate a set of guidelines for property developers who wish to undertake a money-lending licence to provide bridging loans to buyers facing constraints in meeting the initial sale-and-purchase payment.

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Glomac faces challenging sales target

Glomac Bhd (Sept 13, 76 sen) Maintain hold with a higher target price (TP) of 82 sen: Glomac Bhd’s upcoming first quarter ended July 31, 2016 (1QFY17) results could come in below expectations, with weaker core net profit quarter-on-quarter (q-o-q) and year-on-year (y-o-y).

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Only developers with strong balance sheets can undertake financing scheme, says RAM

RAM Rating Services does not expect the property sector to be significantly lifted by the move to allow eligible developers to apply for a moneylender's licence to provide loan facilities to house buyers KUALA LUMPUR (Sept 13): Malaysian homebuilders' accumulation of debts to finance their land purchases over the past few years have left little room for them to undertake the developer financing scheme sanctioned by the Ministry of Urban Wellbeing, Housing, and Local Government, said RAM Rating Services Bhd.

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