Property Sector Outlook by CIMB Investment Bank Berhad and CIMB Property Mart
CIMB Investment Bank Berhad and CIMB Property Mart will be organizing a FREE seminar entitled Property Sector Outlook in Kuala Lumpur.
This seminar will be held on 8th May 2010 (Saturday) and exclusively for all i*Trade@CIMB customers only.
Seminar Details:-
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Date |
8th May 2010 (Saturday)
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Programme |
8.30 am – Registration
9.00 am – Property Sector Outlook by Mr. Terence Wong Head of Equity Research, CIMB Research
10.00 am – Tips On Investing In The Property Market by Mr. Tang Chee Meng Chief Operating Officer, Henry Butcher Marketing Sdn Bhd
11.00 am – End Of Seminar
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Venue |
CIMB Auditorium Ground Floor Bangunan CIMB Jalan Semantan Damansara Heights Kuala Lumpur
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Don’t miss this OPPORTUNITY to learn about the investment opportunities in the Property Sector.
For registration, please call i*Trade@CIMB at 603 2084 9894 / 9978 not later than 6th May 2010 (Thursday).
Registration is on a first-come-first-serve basis.
** Open to CIMB Investment Bank Berhad customer only.
RM11mil in sales at property fair
THE recently concluded state-level Malaysia Property Expo (MAPEX) organised by the Seremban chapter of the Real Estate and Housing Developers’ Association (Rehda) netted RM11mil in sales over the three-day fair.
Some 20 developers showcased 1,432 properties including single and double-storey terraces, semi-Ds, shop-offices and bungalow lots during the expo held at the Seremban Parade Shopping Centre.
The annual property expo is a one-stop centre aimed at providing house-buyers the convenience of selecting their properties of choice under one roof.
Rehda Negri Sembilan chairman Datuk Soam Heng Choon said the expo provided a platform for investors to grab choice properties in good locations at unbeatable deals.
“With the improving economic situation, now is indeed a good time for purchasing your ideal home or office before prices start going up
“We are also mindful in ensuring our developments are environmentally sustainable and will be encouraging our members to construct more energy-efficient and environmentally-friendly homes,” he said adding that this year’s Mapex theme — Go Green — reflected the association’s commitment to promoting green living.
Soam said developers were already planning sustainable development projects with the use of green building materials and through incorporating green features such as water conservation systems (rain water harvesting).
“Homes today incorporate a green living concept with beautifully landscaped parks, with the use of reusable, recyclable or biodegradeable building materials to reduce waste and pollution and energy-efficient lighting systems to reduce long term utility costs,” he said.
State housing, local government, new villages and public transportation committee chairman Datuk Siow Chen Pin commended the association for successfully organising the biennial expo.
He also emphasised the building of quality homes and encouraged developers to incorporate green features in their projects.
“With spacious homes, good amenities and public facilities, I think Seremban is also an ideal place for people working in the Klang Valley to settle down,” he said.
The participating developers offered various incentives including cash rebates and visitors who bought properties at the fair also had the opportunity to participate in a lucky draw.
The expo also had the support of co-sponsors Nippon Paint and Monier.
fr:/thestar.com.my/metro/story.asp?file=/2010/5/18/central/6257506&sec=central
Further hikes in interest rates will depend on economic performance
KUALA LUMPUR: Further hikes in the benchmark policy rate by Bank Negara will depend on economic performance.
Governor Tan Sri Dr Zeti Akhtar Aziz said the process of normalisation for the overnight policy rate (OPR) was dynamic and depended on how the economy performed.
“The process of normalisation is a dynamic one, if there’s a slowdown in the economy then we’ll pause but if there’s growth then we’ll continue,” she said at an MoU signing ceremony here with Secretary to the Australian Treasury, Dr Ken Henry, to facilitate cross-border cooperation.
The central bank has raised the OPR twice this year, the first time on March 4 by 25 basis points and the second time on May 13 by another 25 basis points.
The OPR now stood at 2.50%.
“What we need to make sure is that interest rates will remain supportive of growth,” Zeti said.
Many economists expect another 25-basis point hike in the OPR to 2.75% in the next monetary policy meeting following the 10.1% growth in the economy in the first quarter.
Zeti said the economy could not afford to have a prolonged regime of low interest rates as it might create financial imbalances.
The MoU was signed between Zeti and Secretary to the Australian Treasury Dr Ken Henry to facilitate cross-border cooperation in the financial services industry including in Islamic finance and the regulation of financial products.
Australia’s Financial Services, Superannuation and Corporate Law Minister Chris Bowen witnessed the signing.
Zeti noted that despite the economic growth, inflation was still manageable. “This is not an area of concern,” she said.
She said the economy still has a lot of upside and did not rule out a revision of the gross domestic product growth figures for the year.
fr:biz.thestar.com.my/news/story.asp?file=/2010/5/20/business/6300096&sec=business
M’sia can benefit by leveraging from region’s growth
By DANNY YAP and ANDREW LEE
KUALA LUMPUR: Investment guru and author Jim Rogers is bullish about Malaysia’s economy, if the country is able to leverage off the growth opportunities in South East Asian countries and China.
Rogers said it was no big secret that China was leading the way as the main engine of growth in Asia and if Malaysia was able to identify and provide the products and services the republic required, the country would prosper significantly.
“Malaysia is geographically poised to benefit (economically), being strategically placed in South East Asia, and coupled with its rich natural resources and knowledge workforce, it stands to gain,” he told StarBiz after giving a talk at the CIMB Private Banking Investment Conference 2010 yesterday.
Rogers’ talk was titled Southeast Asia Rides On the Two Booms: Commodities and China.
He said the Malaysian government was sending the right signals in terms of more liberal economic policies to attract greater foreign investors.
“If the economic policies are implemented and the country is further liberalised, Malaysia could be a rising star in the region, following in the footsteps of prosperity seen in Taiwan, Hong Kong and Singapore,” he said.
On ways to improve Malaysia’s competitiveness, he said that Malaysia should open its capital flow, be transparent, encourage capital markets as well as moderate its exchange controls.
Citing an example, Rogers said foreign investors still recalled Malaysia’s capital control decision 12 years ago.
However, he said, times had changed and the country’s economic development had improved since then and Malaysia was now underinvested.
CIMB head of group private banking products Alan Inn concurred with Rogers that Malaysia could expand business opportunities by working closer with its neighbouring Asean countries and China by providing a more conducive environment to enable business to flourish, especially among entrepreneurs.
Inn cited examples such as tax breaks to encourage more local businessmen to venture into China, starting an agency in China to assist them, and providing yuan-denominated deposits.
Inn also said that to boost the economy, the Government needed to find ways to encourage more skilled Malaysians to return from abroad and to entice more high net worth Malaysians to invest locally.
fr:biz.thestar.com.my/news/story.asp?file=/2010/7/8/business/6625409&sec=business
Banks to revise deposit rates, BLR
KUALA LUMPUR: Several banks will be increasing rates on lending and deposit from Monday after Bank Negara raised its key policy rate for the third time this year.
Malayan Banking Bhd (Maybank) will revise upwards deposit and base lending rates (BLR), effective July 13, in line with the increase in the overnight policy rate (OPR) by 25 basis points.
Maybank said it would raise deposit rates by up to 25 basis points while the BLR would be increased by 25 basis points to 6.3% per year. The base financing rate (BFR) of Maybank Islamic Bhd will similarly be revised upwards by 25 basis points to 6.3%.
CIMB Bank and CIMB Islamic Bank announced yesterday that they would increase their BLR and base financing rate BFR by the same quantum.
Meanwhile, Bank Islam Malaysia Bhd would raised its base financing rate (BFR) by 25 basis points to 6.30% per annum effective July 13.
fr:biz.thestar.com.my/news/story.asp?file=/2010/7/10/business/6641713&sec=business