UPDATE: Housing Ministry asked to formulate guidelines for developer lending scheme
KUALA LUMPUR (Sept 15): The urban wellbeing, housing and local government ministry has been tasked by the cabinet to formulate a set of guidelines for property developers wishing to use moneylending licences to provide bridging loans to buyers facing constraints in meeting the initial payment.
High household debt the elephant in the room
THERE is a big elephant in the room and it is Malaysia’s household debt — among the highest in Asia.
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.
LBS Bina plans aggressive launches
KUALA LUMPUR (Sept 14): LBS Bina Group Bhd (LBS) is planning "aggressive" launches this year until next year with more affordable and landed houses in the pipeline, said managing director Tan Sri Lim Hock San.
Henry Butcher: 77% of Penang existing residential properties selling below RM500,000
PETALING JAYA (Sept 14): Despite being the one of the most expensive housing markets in Malaysia, the Penang government has been making efforts to push affordable housing development for the young working population.
Parkson to sell interest in China unit
KUALA LUMPUR (Sept 14): Parkson Holdings Bhd is disposing of its interest in an indirect wholly-owned China subsidiary along with the relevant shareholders’ loan which it says will boost its current year earnings by RM300 million.
Controversial lending plan goes to cabinet today
KUALA LUMPUR (Sept 14): Urban Wellbeing, Housing and Local Government Minister Tan Sri Noh Omar will brief the cabinet today on the controversial developer lending scheme, after the ministry’s initiative was met with strong resistance and censure — even from within the cabinet itself.
Developer-lending brings more risks than benefits
URBAN Wellbeing, Housing and Local Government Minister Tan Sri Noh Omar seems to have created a shock wave by announcing the idea of having property developers apply for moneylending licences so that they can lend to homebuyers who fail to get mortgages from banks.
MRT Corp planning for third Klang Valley MRT line
KUALA LUMPUR, (Sept 13): Mass Rapid Transit Corp Sdn Bhd (MRT Corp) is planning to build the third Klang Valley MRT Line that will slash travel time within the capital, Bernama reported.
