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Day: August 31, 2024
Press Release

IOI Properties Group Berhad decides not to accept the Proposal to Acquire Shenton101 and enters into two Management Agreements for the Redevelopment of ShentonHouse

Putrajaya, 28 August 2024 – IOI Properties Group Berhad (IOI 置业集团, Stock code: 5249) announced today that its Board of Directors (“Board”) has decided not to accept the offer by its Group Chief Executive Officer, Lee Yeow Seng (“LYS”) to acquire Shenton 101 Pte Ltd (“Shenton 101”), for the redevelopment of “Shenton House”, a commercial property that is located at 3 Shenton Way, 068805 Singapore (“Shenton House”) (“Proposal”).

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a variety of malaysian currency
Malaysian economy and BNM

Ringgit to move up to RM4.22 level in 2024?

CIMB Group Holdings Bhd is predicting that the ringgit will continue to strengthen and they have forecasted the ringgit to hit US$1 to RM4.22 level within 2024. Just imagine within the past 12 months, there has even been predictions that ringgit may reach RM5 to US$1 and now the prediction is for RM4.22 level. Just remember, this is because the US$ is depreciating because the Federal Reserve (BNM equivalent in the US) may be deciding to cut their rates. With this expectation, US$ has started its drop for weeks now.

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KL and Selangor Property

Tropicana Registers Higher Q2 Profit 

Tropicana Corporation Berhad  (“Tropicana” or “Group”) announced its unaudited financial results for the second quarter  ended 30 June 2024 (“Q2 2024”). The Group’s profit before tax (“PBT”) for Q2 2024 rose to  RM76.1 million compared to RM1.8 million in the corresponding quarter last year, mainly due  to higher income as a result of higher progress billing, unrealised gain on quoted shares and  lower finance cost following the Group’s debt reduction initiatives.

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person pointing paper line graph
ABCs of Property Investment

As a buyer, I also hope the market is less rosy lah

A learned friend once told me that when everyone is buying property without thinking much, the property prices should be rising. Makes sense! Meanwhile if everyone starts to say bad things about the property market, then should the prices start dropping then? I ask myself as an owner. If someone were to badmouth about the property market and then come to me and ask me to sell my property at a lower price, what would I do? I will politely ask the person to go fly kite or in Hokkien, wait long long lah…

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