News by THEEDGEMARKETS.COM

In BNM’s Financial Stability Review for Second Half 2020 report released today, the central bank said that a concern over high household debt is that it may lead to rapid deleveraging by households in the aftermath of a crisis, thus dampening or derailing the economic recovery.

BNM governor Datuk Nor Shamsiah Mohd Yunus expects e-commerce activities to account for a bigger portion of Malaysia’s gross domestic product (GDP) from the 8.4% figure reported for 2019

Bank Negara Malaysia said in its annual report that the growth of private consumption was significantly affected by domestic containment measures implemented at the beginning of March 2020.

Unsold properties continue to remain at an elevated level, driven by serviced apartments, small office home office (SOHO) units, and houses priced above RM500,000 in less popular locations, said Bank Negara Malaysia

According to its financial statements, its construction segment posted a 30% fall in net profit contribution year-on-year to RM51.57 million, while the property segment saw an 80% drop in net profit to only RM8.14 million.

The number of active cases dropped for the second consecutive day to 14,199 as the number of recoveries (1,148) was higher than the new cases

Lawyer Aliff Benjamin Suhaimi, who is representing the Taman Tun Dr Ismail Residents Association (TTDI), confirmed the hearing date

Residential units made up almost all of the sales with a total of 5,736, including 2,467 units of two- and three-storey terrace houses, 1,225 units of serviced apartments and 1,082 units of apartments/condominiums.

Shahrir, who has been charged with failing to declare the RM1 million he received from former prime minister Datuk Seri Najib Razak to the Inland Revenue Board (IRB), applied in August last year to be tried in the High Court despite being charged in the Sessions Court.

Sime Darby bought into E&O about a decade ago, in 2011