Fitch Solutions sees Bank Negara Malaysia (BNM) at the end of its hiking cycle, leaving the overnight policy rate (OPR) on hold at 3% for the rest of 2023.

While most economists see no further overnight policy rate (OPR) hikes by Bank Negara Malaysia for the remaining three monetary policy meetings in 2023, CGS-CIMB Research sees the possibility of another increase in the second half of this year.

Economists positively viewed Bank Negara Malaysia's (BNM) surprise hike in the overnight policy rate (OPR) by 25 basis points to 3% on Wednesday (May 3), as they considered the move an indication of the domestic economy's resilience.

Chin Hin Group Property Bhd, via its subsidiary Stellar Platinum Sdn Bhd, signed a joint development agreement (JDA) with Ivory Properties Group Bhd, via its wholly-subsidiary Ivory Meadows Sdn Bhd, to develop the RM475 million Crown Penang, which is targeted for launch in 2Q2024. This will be Chin Hin’s first foray into Penang

AWC Bhd has won a sub-contract worth RM7.17 million for works related to cold water, hot water, rainwater harvesting, sanitary plumbing and the installation of sanitary fittings and ware works for a seven-storey block of luxury apartments in Bukit Damansara, Kuala Lumpur.

UOA Real Estate Investment Trust (REIT)’s first quarter net profit fell 8.8% amid a decline in occupancy rate at its older buildings, coupled with an increase in expenditure, driven by higher electricity and borrowing costs.

A wholly-owned company of flat steel products manufacturer Astino Bhd is buying a 884,703 sq ft piece of land in Selangor for RM60.16 million to undertake its expansion programme.

Sunway Real Estate Investment Trust's (Sunway REIT) net property income (NPI) for the first quarter ended March 31, 2023 (1QFY23) rose 16.3% year-on-year (y-o-y) to RM138.31 million from RM118.92 million driven by its retail segment.

Noteworthy:

• Leasehold
• Built-up size: 6,500 sq ft
• Land size: 4,080 sq ft
• 6 bedrooms, 6 bathrooms
• Unfurnished
• Nearby amenities : PLaza Low Yat, Ampang Point Shopping Mall, hospitals, international schools, convenience stores, F&B outlets
• Accessibility:  EKVE highway, SPE highway, Federal highway

When: January 2023

): Indonesia’s planned city Nusantara is poised to become the next economic hub in the country, as highlighted by FIABCI Asia Pacific region president and special envoy for foreign affairs Rusmin Lawin at the International Real Estate Federation (FIABCI) Malaysia Morning Talk at Dewan Berjaya, Bukit Kiara earlier on Wednesday (May 3).