1 October 2019: Investigate errant ‘property gurus’; Sg Wang opens new annex block

Call to investigate errant ‘property gurus’ and their investment schemes
Some “property gurus” have been convincing people to buy houses of certain projects for their own interests and profit, according to Axis REIT Managers Bhd head of investment Siva Shanker. Some of them even made promises of the properties fetching higher rents than the monthly mortgage payment, he said. Siva urged the authorities to investigate the “property gurus” and their investment schemes which could lead to another crisis in the next few years if left unchecked. At the same time, developers have to juggle between profit and economics, and build properties that are in demand, such as single- or double-storey landed homes in decent locations. (The Sun Daily)

House purchase should not be delayed: REHDA
Young buyers are urged to buy properties within their budget rather than delaying their purchases to reach certain income to buy their dream houses. Real Estate And Housing Developers’ Association of Malaysia (REHDA) Vice president Datuk NK Tong said homebuyers should plan their purchases prudently and not wait until they could afford to own a property. “If you delay buying a house till you can afford it, the housing prices will appreciate. But I would recommend people to buy a house that they can afford instead of a house they ideally want to stay in,” he said. He said some people chose to rent houses because they were uncertain about their future yet but owning a house should have been a priority. (NST Online)

Sungei Wang opens new annex block with 85% leasing commitment
Newly-refurbished mall Sungei Wang’s new annex block JUMPA @ Sungei Wang has achieved more than 85% in leasing commitment to date. CapitaLand Malaysia Mall REIT Management Sdn Bhd (CMRM) general manager mall management Lawrence Teh Cheng Poh said more brands will be announced soon, including a new-to-market anchor tenant. In the past 16 months, JUMPA @ Sungei Wang underwent a RM54.5 million facelift to convert the previous anchor tenant space into specialty stores, and update the facade and interior design of the annex block. JUMPA @ Sungei Wang’s anchor tenants include Camp5, Asia’s premier indoor rock climbing gym, and MinNature — the largest 3D printed miniature exhibition in Malaysia. The anchor tenants are expected to commence operations in December 2019. (The Edge)

(Source: Inside Retail Asia)

Malaysia set to roll out 55 5G use cases across 32 sites worth RM116m
Eight companies will be investing RM116 million to roll out 55 5G use cases across 32 sites in six states in Malaysia for a six-month period from October 1, 2019 till March 31, 2020. Malaysian Communications and Multimedia Commission (MCMC) Chairman Al-Ishsal Ishak said use cases will involve nine verticals split between the eight companies. The areas they will be testing in are agriculture, education, entertainment/media, digital healthcare, manufacturing and processing, oil and gas, smart city, smart transportation and tourism. The state governments that are involved in the demonstrations include Kedah, Perak, Penang, Selangor, Terengganu and Kuala Lumpur. (Malay Mail)

Lower AirAsia passenger service charge starts today
AirAsia’s reduced passenger service charge (PSC) of RM50 starts today at KLIA2 and other international airports in Malaysia. This follows Transport Minister Anthony Loke’s announcement last month that the Cabinet has decided to reduce the PSC for passengers travelling outside of Asean from RM73 to RM50 effective Oct 1. AirAsia Group president (airlines) Bo Lingam said as the airports belong to the government, the Cabinet has every power to implement changes to the PSC. “This will hugely benefit not only air travellers but also the tourism industry and economy as a whole, ” he said. (The Star Online)

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