Bursa Malaysia Property Index, which tracks 97 stocks in the sector, settled down 9.74% to a nearly three-month low of 980.14 points, making it the biggest loser in the exchange on Monday.
Even if the United States (US) Federal Reserve cuts its interest rates as anticipated, Bank Negara Malaysia (BNM) is expected to hold the Overnight Policy Rate (OPR) at 3% by the end of 2025, amid a strengthening ringgit.
The Ministry of Housing and Local Government (KPKT) plans to draft the Urban Renewal Bill and the Residential Tenancy Bill, and amend several existing legislation before the 16th General Election, said Minister Nga Kor Ming.
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The government has proposed the Urban Redevelopment Act (URA) legislation, saying it is a solution to urban slums. However, the National House Buyers’ Association (HBA) views this as a myth. Instead, the URA is merely scratching the surface rather than addressing the root causes.
Tourism-related property developer Yong Tai Bhd (KL:YONGTAI) said on Wednesday that it is selling its five-star hotel Courtyard by Marriott Melaka for RM160 million.
Noteworthy:
When: April 2024
A higher concentration of urban population not only generates more interactions, exchanges and business opportunities, but also promotes creative thinking, knowledge spillovers, new ideas and technology developments, leading to a higher economy of scale and wealth agglomeration.
American tyre company Goodyear has put its factory in Shah Alam’s Section 15 up for sale, following its March decision to shut down its manufacturing facility in Malaysia as part of its cost restructuring efforts.
Clinging to the same project brought a different kind of helplessness. When would the optimal reserve price present itself again?
Noteworthy:
When: May 2024
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