The Government is considering raising the minimum floor prices of houses foreigners are allowed to buy to RM1mil from the current RM500,000 in an effort to control the rise in property prices, sources said.
They said such a decision was “in the pipeline” and the implementation would be made by the economic planning unit (EPU) under the Prime Minister's Department currently headed by Minister Tan Sri Nor Mohamed Yakcop
UEM Land Holdings Bhd expects to sign at least one agreement with potential partners to undertake joint venture development in either India, Myanmar or Vietnam this year.
Managing director and CEO Datuk Wan Abdullah Wan Ibrahim said the company was already in talks with parties to make its presence felt in these potential new markets, as it has big ambitions and targets for 2015 and 2016.
"If there is opportunity in other locations, we will look into it as well," he told reporters after the Corporate Spotlight for UEM Land and UEM Group Bhd here yesterday.
Wan Abdullah said: "In order to achieve our high aspirations, we have to identify new projects, and that can be in Malaysia and the region.
he merger of UEM Land and Sunrise Bhd in early 2011 had provided a much-needed boost to the company, which now has property developments in Canada and management projects in Singapore.
UEM Land Holdings Bhd hopes to seal joint venture (JV) deals with major property developers in India, Vietnam and Myanmar by year-end, as part of its aspiration to become a global property player by 2015.
Managing director (MD) and chief executive officer (CEO) Datuk Wan Abdullah Wan Ibrahim said the company is now in discussions with the developers."It will be good if we can ink a deal with each party by year-end. Our aim is to have a strong regional presence," he said yesterday.
Department says 32 flood mitigation projects under way. The Government, via the Irrigation and Drainage Department , will be spending RM880mil on flood mitigation projects throughout the country.
Natural Resources and Environment Deputy Minister Tan Sri Joseph Kurup said that a total 32 projects were under way and were expected to be completed by the end of the year.
He said flood hazard maps for six major river basins Muar, Kulai, Kinta, Selangor, Muda and Kedah had been completed.
SP Setia Bhd yesterday announced a record-breaking quarter with sales at RM933 million for its first quarter ended 31 January.
BANK Negara Malaysia's new growth estimate of 4 per cent to 5 per cent this year is realistic in a sluggish external demand environment, a regional economist says.
But domestic demand, which is expected to be main driver of growth, will be affected by the central bank's tightening policy stance on credit, said Dr Chua Hak Bin, who is Bank of America Merrill Lynch head of Emerging Asia Economics.
"Domestic demand growth will be affected by the policy measures for cars and properties and we have already seen the January sales number for cars dip," he said in an interview here yesterday.
Economists contacted agree with Bank Negara's gross domestic product (GDP) growth forecast of between 4% and 5%, with the domestic economy providing the impetus, while global growth will continue to be challenged by the eurozone debt crisis.
Although some encouraging signs are emerging from the advanced economies, Bank Negara trimmed growth estimate for 2012 from the 5% to 6% projected by the Treasury during Budget 2012 in October 2011.
GAAM selaku peneraju projek, berhasrat menarik Iebih 2,000 rakyat Jepun untuk menetap, bekerja atau menjalankan perniagaan di negeri ini FUJIMURA MASANORI Ketua Pegawal Eksekutif GAAM Global Asia Assets (M) Sdn. Bhd. (GA-AM), syarikat perunding bangunan aset bagi pelabur Jepun merancang memajukan perbandaran barn Little Japan’ yang pertama sumpamanya di Malaysia dengan pelaburan dijangka melebihi RM500 juta.
Melalul projek yang akan diadakan di Taman Molek di sini, GAAM selaku peneraju projek, berhasrat menarik lebih 2,000 rakyat Jepun untuk menetap, bekerja atau menjalankan pemiagaan di negeri ini menerusi program Malaysia Rumah Keduaku (MM2H) dalam tempoh lima tahun.
Iskandar Malaysia to beef up security, improve transport links to draw S'pore businesses
ISKANDAR Malaysia will court small and medium-sized enterprises (SMEs) in Singapore struggling with high rental and other business costs to establish some or all of their operations there. To help achieve this aim, Malaysian Prime Minister Najib Razak yesterday announced new initiatives to ease concerns about the security and accessibility of the economic region.
SINGAPORE, Feb 28 (Bernama) -- Singapore's international trade in services recorded positive growth in 2010 as both services exports and imports rose in tandem with the economy's recovery from the recession of 2009.
According to a report released by the Statistics Department, Ministry of Trade and Industry today, the total exports of services increased to S$136.4 billion, up 16.9 per cent on an annual basis in 2010 following a decline of 6.4 per cent in the previous year.
It said overall services imports expanded by 10.7 per cent to reach S$134.3 billion after decreasing by 5.5 per cent in 2009.
Transport, travel and charges for the use of intellectual property contributed to the bulk of the increase in total services trade in 2010.