malaysia Tag

KUALA LUMPUR: Robert Kuok remains Malaysia’s wealthiest person, with three newcomers making their debut in the latest edition of Forbes’ Malaysia ‘50 Richest’ list. Kuok saw his wealth growing to US$11.14 billion, up from US$10 billion previously. Kuok, 93, who made it to the list for the 12th straight year, controls an empire that includes palm oil, shipping and property through the Kuok Group. Coming in second was banking mogul Tan Sri Quek Leng Chan of the Hong Leong Group, with a net worth of US$6.8 billion, up from US$5.3Read More
The banking sector is expected to face a slowdown this year in tandem with the country’s gross domestic product (GDP) performance, said HSBC Bank Malaysia Bhd (HSBC Malaysia) CEO Mukhtar Hussain. He said economic conditions have been more subdued compared to previous years, which had impacted capital investment. “I think the banking sector will probably slow down in the next 12 to 24 months in line with the slowdown in the Malaysian GDP,” he told reporters at a briefing yesterday. However, he said the banking system in the country isRead More
A number of commercial projects around the nation resemble ghost towns, with swathes of vacant shop lots. Besides being an eyesore, they also serve as breeding grounds for mosquitoes and other unsavoury activities as well as reflect negatively on economic growth. MALACCA: Rapid development here has led to a glut of commercial units, particularly shop houses, which are mushrooming into swathes of vacant shoplots. A registered valuer, who declined to be named, said sluggish development of existing large scale projects in the heart of the Malacca city have thwarted theRead More

Posted On February 27, 2017By HoudiniIn Articles

Housing loans are not always productive debt

IT is better to invest in property than buy a car, which depreciates in value. One should also spend within one’s means. What’s often unsaid in these old adages is that one should only borrow what one can comfortably repay, even when it comes to “productive debt” for an appreciating asset. Defaults on housing loans, for instance, were the top cause of bankruptcies in Malaysia in 2012. The 5,341 cases made up 27.3% of the total of 19,575 bankruptcy cases that year, which means 15 people were going bankrupt everyRead More
KUALA LUMPUR (Feb 23): Some RM8.27 billion worth of completed homes on the primary market have gone unsold as of the third quarter of 2016 (3Q2016). This marks an 80% rise in the residental overhang value compared with RM4.6 billion a year ago. “This huge rise in value is mainly contributed by properties in the RM500,001 to RM1 million segment which saw an increase in value of 141% from RM956 million in 3Q2015 to RM2.3 billion in 3Q2016,” revealed Valuation and Property Services Department director general Dr Rahah Ismail. ForRead More
KUALA LUMPUR (Feb 15): The 2017 Edelman Trust Barometer Malaysia findings revealed that 52% of Malaysians have lost faith in the institutions and system as a sense of injustice, lack of hope, lack of confidence and a desire for change brew within the community. The findings are consistent with a survey entitled How to Fix Malaysia? conducted by The Edge in December last year, in which respondents said corruption and poor governance were the two most urgent problems that Malaysia needed to fix. The Edelman Trust Barometer said 2017 alsoRead More
KUALA LUMPUR: Growth of trade dependent economies like Malaysia will be impacted this year by the potential protectionist US policies and the economic stability of the EU, says UOB Bank. Economist Julia Goh says Malaysia should continue to facilitate intra-regional exports through Asean and its trade partners and reinforce regional integration within Asia. “Malaysia should further diversify away from traditional export sectors towards higher value-added segments to support economic growth,” she said, in a report. The key growth driver for the Malaysian economy and its neighbouring Asean economies in theRead More
by David Tweed 13 February 2017, 05:00 GMT+8 India, Indonesia, Malaysia and Vietnam have largely escaped U.S. President Donald Trump’s glare on trade, but he may yet come looking. The U.S. runs trade deficits with all of them, in some cases quite big ones. Trump’s exit from the 12-nation Trans-Pacific Partnership, his attacks on the trade policies of Japan, China and South Korea, and a Republican push for tax reforms that would impose a levy on U.S. imports from all countries are contributing to concerns that a protectionist era will hurtRead More