I have added a new forum board where buyers or residents of a particular development could have a proper place to discuss the development of interest. So far I have added Ameera Residences and Five Stones. If you have a development in mind and wish to utilise this feature, please send me an email to request@flamed2.com.
To visit the forum, please click to http://www.flamed2.com/urban/talk
Cheers!
Bank Negara Malaysia (BNM) today again reduced its key overnight policy rate by 50 basis points to 2.00 percent, after just a month after slashing it by 75 basis points. This could be good news for those who are looking to get financing for their property purchases. The bad news is, our economy is quickly deteriorating. The current BLR in many major banks are at 5.95%. Full press release here.
UPDATE 1-Malaysia cuts key rate again as recession looms
Tue Feb 24, 2009 4:10pm IST
KUALA LUMPUR, Feb 24 (Reuters) - Malaysia cut its key rate for a third straight meeting, the latest sign of concern that the country may slip into a recession, just days before fourth-quarter economic data that is expected to be sombre.
Bank Negara Malaysia (BNM) cut its key overnight policy rate by 50 basis points to 2.00 percent on Tuesday, nearly a month after slashing it by 75 basis points.
When I first read about Selangor Dredging Berhad embarking on their bungalow project on a plot of steep hillslope in Damansara Heights, I wondered how could they build anything on that steep plot of land. The green lung has been there for the longest time, and just like the residents in Medan Damansara, I was quite sure that nothing could be build on that hillslope. Hence when the news broke about this development, I was quite shocked. Even more surprising was to hear that SDB decided to build 25 units of 5-storey high bungalow units!
In today’s StarBizWeekend, there’s an article focused on SDB and in the article there is a rendering of the project, which I have been awaiting as I was curious to see how this development would look like.Looking at how it’s being laid out, I sort of understood how this could work. By terracing the hill to create a flat platform, you could site these bungalows according to the hill slope. I’m hoping that SDB will ensure that every precaution that is to be taken, is taken.
Looking at the rendering, the project does turn out to be quite nice. Very modern looking indeed. Prices start at RM10m, and apparently there are units already taken up. Right. So any takers?
After several months of anticipation, Bank Negara Malaysia has cut key interest rate by 25 basis points, which means BLR may be adjusted as well. Many would seek refinancing now, but do take care of the clauses that may be introduced.
25-11-2008: BNM cuts OPR to 3.25%, SRR reduction a surprise
by Gan Yen Kuan
Email us your feedback at fd@bizedge.comKUALA LUMPUR: Bank Negara Malaysia (BNM) yesterday cut the key interest rate by 25 basis points (bps), the first rate adjustment since April 2006, and made a surprise 50bps slash to banks’ statutory reserve requirement (SRR), as the deteriorating global slowdown has started to affect domestic growth.
I know it’s a bit late, but better late then never! As requested by some, here is the full list of the Top 30 property developers in Malaysia as judged by The Edge Malaysia, published on 1st Sept 2008:-
Related links
The Edge’s Top Property Developers Award 2008
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