News by The Edge

Over the last few years, the Malaysian property market has been characterised by sluggish sales and a rising number of unsold homes. Developers are sitting on large stocks of inventories, which are stretching their balance sheets, funded by borrowings from banks, and the debt and capital markets, including issuing perpetual securities. The sector’s poor outlook is reflected in the low valuation of property stocks, most of which are trading at around one-third book value.

How did this situation come about?

The former prime minister's lawyer Harvinderjit Singh said there are other circumstances that the court ought to consider, like whether Najib originally — at the material time — knew that the money that went into his accounts came from SRC, formerly a subsidiary of 1Malaysia Development Bhd.

In 5½ decades, never has the group encountered such adversity — its casinos and hotels have had to remain shut for two months now, owing to the Covid-19 pandemic, choking cash flow and revenue.

It will be investing in the renovation of existing rooms at the Parkroyal Kuala Lumpur, adding more rooms and introducing serviced suites.

“During this unprecedented time and with no clear and definite time when businesses will start to move towards normality, hotels may embark on upgrading or refurbishing the properties.”

Governments do have a moral dilemma — lives or livelihoods? But it does not have to be that way if we take a dual-track approach that strikes a balance between health and economics.

Bank Negara Malaysia (BNM) projected that the country’s gross domestic product (GDP) growth to be between -2% and 0.5% this year amid expectation that economic activities will pick up in the second half of the year.

While the Malaysian Medical Association (MMA) has called for the relaxation of the MCO, the Academy of Medicine of Malaysia (AMM) said the measures should be extended until Hari Raya Aidilfitri at end-May or even beyond that.

The six consecutive days of drop has wiped off RM16.62 billion market capitalisation from Public Bank.

Fresh into the role, he said the focus now will be on making sure that safety precautions are carried out for the group’s numerous outlets and malls to ensure both staff and customers can carry on with daily business transactions.