S P Setia Bhd
(RM3.96/share)
Enters Indonesia in
regional expansion
S P Setia continues its regional expansion with the opening
of a representative office in Jakarta, giving the developer a foothold in the
archipelago. Jakarta is the fifth overseas
destination the developer has ventured into after Vietnam, Singapore, Australia
and China.
In a statement, S P Setia president and CEO Tan Sri Liew Kee
Sin said the group’s first luxury development – Duta Nusantara – in Kuala
Lumpur, was inspired by Indonesian architecture and the serene lifestyle
offered by the many world class resorts of Bali. This led the group to include more Indonesian
influences in its subsequent luxury projects such as Duta Tropika and
Setiahills.
Liew said S P Setia hopes to be able to directly source
Indonesian arts and crafts, building materials and furniture for its projects
in the future. – The Edge
Malaysian Building
Society Bhd (RM2.28/share)
Extends home
financing
Malaysian Building Society Bhd (MBSB) president and CEO
Datuk Ahmad Zaini Othman said it will start extending home loan financing
facilities to the second generation of property purchasers for its housing
project in Sepang.
The non-bank lender, which does not come under the purview
of Bank Negara, said this special financing facility would allow home buyers to
stretch monthly home-loan repayments to the kids (second generation) of these
home buyers, most of whom are retirees in their 50’s.
According to Ahmad Zaini, these property buyers will be
offered a slightly higher interest rate of base financing rate (BFR) minus 0.5%
with a tenure of 30 years, or age 70, whichever comes first. These interest rates are slightly higher than
the conventional type of housing loans because of the buyers’ advanced age
profile.
The offering of such loans sets a precedent for the property
sector in Malaysia which has seen other financiers limiting funding for only up
to a generation of borrowers until they are aged 70. - StarBiz
Construction
Sector
Govt still keen on
high-speed rail link
The government is still keen on the high-speed rail project
linking Kuala Lumpur and Singapore, the Land Public Transport Commission (SPAD)
said. SPAD chief executive officer Mohd Nur Ismal Mohamed Kamal, however,
stressed that it will depend on the outcome of a feasibility study.
Mohd Nur Ismal confirmed that the feasibility study, which started
last month, will take six to 12 months
to complete. The aspects under consideration include the alignment, cost,
benefits, risks, economic impact and ridership.
The government reiterated in November 2011 that it may go
ahead with the project but recently said the rail network is not a priority for
now. The focus currently is to link Johor Baru and Singapore first with a rapid
transit system by 2018 as part of efforts to increase connectivity between the
two cities.
Three groups have made presentations on the project to the
National Key Economic Area laboratory. They are UEM Group-Hartasuma Sdn Bhd,
China Infraglobe Consortium-Global Rail Sdn Bhd and YTL Corp Bhd. – Business
Times
Source: AmeSecurities
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