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Will the housing market crash?

Will the housing market crash?

The Malaysian Housing Price Index (HPI) fell by 9.4% and 2.3% respectively, in 1998 and 1999 due to the Asian Financial Crisis, before returning to growth in 2000. The Malaysian GDP sank 7.4% in 1998, but was trending up from 1999. The property market was swift to follow the recovery due to strong demand and...

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Property prices to fall

Property prices to fall

PROPERTY prices are expected to drop as the country braces for recession and consumers tighten their spending over worries of possible job losses. Malaysia’s GDP is expected to shrink 2% this year as it tries to contain the coronavirus pandemic, which has already crippled many sectors of the economy. Bank Negara Malaysia (BNM) has projected...

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Short term effect in the housing market

Short term effect in the housing market

Malaysians are currently prioritising bread-and-butter issues over big-ticket items with increasing uncertainty in the face of unprecedented sociopolitical and economic change, amid the ongoing Covid-19 outbreak but this is likely to be short term. Analysts foresee domestic and global recession but when it comes to real estate, market experts anticipate corresponding effects on home seeker...

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Foreign funds’ net selling slows

Foreign funds’ net selling slows

KUALA LUMPUR: Foreign net selling of Malaysia equities slowed down last week to RM486 million from RM631.9 million in the preceding week, according to MIDF Research. “In comparison to its other six Asian peers that we monitor, Malaysia remains as the nation with the third smallest foreign net outflow on a year- to-date basis. “The...

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Malaysia ‘could not escape’ recession

Malaysia ‘could not escape’ recession

THE Covid-19 pandemic that has resulted in lockdowns of many nations all over the world is expected to make it harder for Malaysia to escape from a recession, as the country practises an open economy that is highly dependent on other countries. Monash University Malaysia VP (research and development) and Monash Malaysia R&D Sdn Bhd...

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WCT Bhd secures RM1.2b job from Jendela Mayang

WCT Bhd secures RM1.2b job from Jendela Mayang

WCT Holdings Bhd’s whollyowned subsidiary WCT Bhd has secured a RM1.2 billion contract from Jendela Mayang Sdn Bhd (JMSB) to undertake superstructure works for parcel two of the Pavilion Damansara Heights development project. In a filing with Bursa Malaysia today, WCT Holdings said the job entailed execution and completion of one block of a 32-storey...

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Gamuda Land partners Shopee to sell houses

Gamuda Land partners Shopee to sell houses

Gamuda Land has partnered with Shopee, an e-commerce shopping platform, to sell houses online, amid the current Covid-19 pandemic. Its chief operating officer Aw Sei Cheh said through this exclusive promotion, customers will be able to browse and purchase selected Gamuda Land properties through Shopee, anytime and anywhere and discover attractive packages that the developer...

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Malaysia’s overall real estate market hit hard by coronavirus

Malaysia’s overall real estate market hit hard by coronavirus

The coronavirus, or Covid-19, has brought the whole world to a standstill, and the property market is no exception with mounting pressure on the supply and demand. Knight Frank Malaysia is expecting lower activity in leasing and investment in commercial office. The firm’s executive director of corporate services Teh Young Khean said the Covid-19 pandemic...

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Glomac’s 3Q net profit jumps on property sales

Glomac’s 3Q net profit jumps on property sales

GLOMAC Bhd’s earnings jumped 747.8% year-on-year (YoY) to RM12.1 million in the third quarter ended April 30, 2020 (3Q20), due to ongoing development phases and stronger performance by the property investment segment, complemented by overall administrative cost savings. Earnings per share for the three months rose to 1.56 sen. Revenue for the period fell 6.3% YoY...

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WCT Bhd secures RM1.2b job from Jendela Mayang

WCT Bhd secures RM1.2b job from Jendela Mayang

WCT Holdings Bhd’s whollyowned subsidiary WCT Bhd has secured a RM1.2 billion contract from Jendela Mayang Sdn Bhd (JMSB) to undertake superstructure works for parcel two of the Pavilion Damansara Heights development project. In a filing with Bursa Malaysia today, WCT Holdings said the job entailed execution and completion of one block of a 32-storey...

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