Lowyat.NET: Latest topics by davwon

UEM Sunrise may buy Eco World in share swap?

davwon — Fri, 20 Sep 2019 13:55:39 +0800

https://www.theedgemarkets.com/article/uem-...orld-share-swap

KUALA LUMPUR (Sept 20): Malaysian property developer UEM Sunrise Bhd may acquire rival Eco World Development Group Bhd in a share swap deal, New Straits Times reports, citing unidentified sources.

* Deal could reduce sovereign wealth fund Khazanah Nasional Bhd’s 66% indirect interest in UEM Sunrise while Eco World’s substantial shareholder Liew Kee Sin will end up with a 15%-20% stake

* Deal is among several proposals by bankers and combined entity will have total land bank of 7,284 hectares

Housing Loan - BR Hike & Revision

davwon — Mon, 20 Jun 2016 10:05:41 +0800

Recent News on BR rates, and its kinda resurface the argument of BR vs BLR, of which is benefits us more: flexible rate(BR) that control by bank itself OR periodic revision of rates(BLR) by bank negara.

Seems that they can do what they want now......

Healthy comments, feedback or arguments are welcome. Let get the ball rolling.

Starproperty.com

The Star

Business NewsHome > Business > Business News
Friday, 17 June 2016
CIMB: Base rate hikes may benefit a few banks

PETALING JAYA: Base rate hikes could be a new earnings catalyst for a few banks, CIMB Research said.

Reaffirming its “overweight” call on the industry, the research house said the call was based on the potential re-rating catalysts of expected earnings recovery this year, and attractive valuations for a few banks.

“RHB Capital remains our top pick for the sector. We retain our earnings forecasts for now but could raise our projections if the BR hikes push up banks’ earnings above our expectations in the coming quarters,” it said in a report.

CIMB Bank has raised its base rate by 10 basis points (bps) to 4.1% effective June 9, 2016. Before this, three other banks had upped their rates – by 10bps each for Hong Leong Bank Bhd (on April 15) and Public Bank Bhd(on May 17) as well as by 20bps for AMMB Holdings Bhd (in December 2015). Three foreign banks in Malaysia also increased their rates by 10bps to 20bps over the past few months.

“Given the escalating cost of funds, we previously thought that banks would increase the spread for housing loans, which would only affect the lending rates for new loans. But the above banks even took a step further by raising their BRs, leading to higher interest charged for all their existing variable-rate loans, which account for more than 50% of their loan books.

“The incremental interest income earned will flow directly to banks’ bottom line, boosting their FY17-18 net profit by an estimated circa 2.8% for Public Bank and 3.1% for Hong Leong Bank,” it said.

CIMB Research said Malayan Banking Bhd (Maybank) so far does not have plans to raise its base rate. However, the research house sees a reasonable chance for it do to so in the near term, considering that two of its biggest competitors have upped the rates.

“We estimate that a 10bp rise in Maybank’s BR would lift its FY17-18 net profit by circa 1.5%,” it said.

The research house said the 10bp rise in several banks’rates lately would have a minimal negative impact on their loan growth and asset quality, as this would only lead to a small increase in borrowers’ monthly instalments.

“Based on our calculation, a 10bp rise in base rate would raise the monthly instalment of a 10-year loan by only 0.7%, which would be easily absorbed by borrowers, in our view,” it added.

SENJA by BRDB

davwon — Mon, 06 May 2013 17:13:42 +0800

Found from agent friend, BRDB new landed development.

Website up but not much info.

http://www.senjabrdb.com.my/

Think gonna open for sell soon.

Eastpark 72@Bandar Mahkota Cheras

davwon — Mon, 10 Jan 2011 11:14:14 +0800

Eastpark 72@BMC, Section 5.

Built-up 4276sf
Land size from 40x80
1.6M onwards
Total 72 units

Any idea on this project?

[addedon]January 11, 2011, 10:07 am[/addedon]Received invitation to their preview this saturday. only mention free kitchen package during that day. other info withheld...

Anyone else receive the invitation?

[addedon]January 11, 2011, 10:08 am[/addedon]Received invitation to their preview this saturday. only mention free kitchen package during that day. other info withheld...

Anyone else receive the invitation?

BNM Housing LVR Cap

davwon — Thu, 04 Nov 2010 09:51:32 +0800

The Star Online > Business
Thursday November 4, 2010

Support for Bank Negara’s housing LVR cap move

By ANGIE NG and DALJIT DHESI
starbiz@thestar.com.my

PETALING JAYA: Bank Negara’s imposition of a maximum loan-to-value ratio (LVR) of 70% for a third and subsequent housing financing facility taken by a borrower is seen as a timely pre-emptive measure to avert unhealthy speculative activities and a potential property bubble, industry players concurred.

With the latest measure that takes immediate effect, people buying their third and subsequent house would be required to pay a higher down-payment than the current standard minimum of 10% of the value of a house.

In a statement yesterday, the central bank said financing facilities for purchase of first and second homes would not be affected and borrowers would continue to be able to obtain financing for these purchases at the present prevailing LVR level applied by individual banks based on their internal credit policies.

Real Estate and Housing Developers Association president Datuk Michael Yam said the association supported the measure as it would ensure a healthier and orderly housing market.

“There are some hot spots in the housing market where prices have appreciated higher than the average price increases in other locations. As financing for the first and second housing properties will not be affected by the ruling, the move is not expected to dampen the performance and growth of the housing property sector.

“Meanwhile. the LVR cap on those buying their third and subsequent house should stem speculative buying and ensure a more sustainable housing market,” Yam added.

Mah Sing Group Bhd group managing director cum group chief executive Tan Sri Leong Hoy Kum said the move was not surprising as Bank Negara had given earlier indications of such a move.

“The move should not significantly affect the overall sentiments of the market which comprises mainly first-time buyers and upgraders.”

Leong said there was no property bubble as price increases were only for properties with good concepts in good locations.

“As long as developers offer quality properties with good concepts in prime locations, there should still be takers due to our strong employment market, low interest environment and good liquidity in our financial system,” he added.

National House Buyers Association honorary secretary-general Chang Kim Loong said the measure would help curb speculative buying in the local housing market.

“Prices of landed residential properties have increased substantially over the last five years.

“We are glad that the Government has heeded HBA’s call with regards to the LVR. We will next seek to make housing more affordable for middle-income households and have pricing control for this group of buyers.

“HBA has urged the Government to set up a Special Task Force with such an objective and aspiration,” he said.

RAM Ratings head of financial institution ratings Promod Dass said: “Given this LTV measure only applies to the third home loan onwards, there should still be ample opportunities for banks to focus on first-time home buyers and perhaps to finance the purchase of a second home for lifestyle upgrading purposes.”

“All said, the level of prevailing interest rates would be an important factor too for the health of home loans, given that the bulk of outstanding home loans are based on floating interest rates,” he said in an e-mail interview.

The Association of Banks in Malaysia (ABM) chairman Datuk Seri Abdul Wahid Omar said while the banking sector supported house ownership, ABM agreed that appropriate measures should be adopted to avert unhealthy speculative activities which could lead to a property bubble.

Abdul Wahid, who is also Malayan Banking Bhd president and CEO, said: “In my view, the application of the measure is clear and specific and the LTV ratio itself, optimal.

Given that financing for first and second housing properties will not be affected by the ruling, the move is not expected to dampen or have an adverse impact on the growth of residential property development sector as well as the banks’ house financing business.

“Affordability of homes for genuine buyers will be preserved as banks continue to lend prudently under their respective risk management framework.”

On the Financial Capability Programme, he said it underscored the view shared by ABM that education was paramount in the promotion of sound financial and debt management.

Details of the implementation of the programme would be announced next month.

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