News by M

The cloud kitchen concept can impact the real estate industry significantly, especially the commercial, hospitality and industrial sectors, says JLL Property Services (Malaysia) Sdn Bhd.

If we were to include serviced apartments into the calculation of residential overhang today, it will reveal the fact that the overhang problem in the country has not been eased but intensified over time.

Sunny Ng: I may be moving to Malaysia eventually if the situation in Hong Kong gets worse. I know about MM2H but I don’t plan to apply for it yet.

Christine Pun: It is not true to say that the protest is the sole reason for us to move to Malaysia, but it is what affirmed our decision to apply for the MM2H visa. Our original intention in moving to Malaysia was for a better education environment for our only daughter.

Starcity Global managing director Florence Ten: Good quality and affordable international school fees have always been the main pull factor, even now at this tough time. Some of them did not feel the urgency to apply for the visa maybe because their children were still young, so the application could wait. But so many things have happened recently in Hong Kong, which have pushed them to make a decision earlier.

“Gamuda’s net gearing remains at a reasonable level of 35%. It maintains a high cash balance of RM2.5 billion and receives strong support from banks. About half its debts are long-term borrowings. Hence, (even without the deal) it will be able to be to sustain its operations, despite slow sales and slow construction progress billings.”

There is a lot of evidence to suggest that Malaysia will ride out this storm better than many other economies around the world.

He said Malaysia is fortunate to have a very diversified economy that does not depend on just one or two sectors

This was despite revenue rising 2% to RM741.41 million, from RM727.22 million previously.

The property developer said the mandatory closure of all its sales galleries and construction sites throughout the MCO period affected earnings, with revenue falling 36.4% to RM345.4 million from RM543.18 million a year ago.