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2021-01-21 19:51 | Report Abuse
Jack Mak, are you Jack Ma’s brother ?
From the news stated there is in talks, no yet final signing the agreement...
We know that CIMB is our country’s number 3 banker beside MBB and a PBB, but there is still need a fair bidding from all the companies who are interested in this project...
Do you agree ?
By the way, XOX is joint venture with Singapore’s Alipay Labs on block chain solution, it’s a different business !
Stock
2021-01-21 16:19 | Report Abuse
If tommorrow hit limit up to 40 cents, XOX-WC open price will be around 38 cents !
Stock
2021-01-21 16:10 | Report Abuse
I think tommorrow XOX probably will limit up to 39.5 or 40 cents (+30 cents) !
Heng ah, Ong ah, Huat ah !
Stock
Stock
2021-01-21 15:45 | Report Abuse
XOX - BONUS ISSUE OF 1,412,612,765 NEW WARRANTS IN XOX ("WARRANTS C") ON THE BASIS OF 3 WARRANT C FOR EVERY 8 EXISTING ORDINARY SHARES IN XOX HELD BY THE ENTITLED SHAREHOLDERS OF XOX ("BONUS ISSUE OF WARRANTS")
https://klse.i3investor.com/servlets/stk/0165.jsp
XOX BHD
Kindly be advised that XOX’s 1,412,612,765 Warrants C issued pursuant to the Bonus Issue of Warrants will be admitted to the Official List of the Exchange and the listing and quotation of the Warrants C on the ACE Market, will be granted with effect from 9.00 a.m., Monday, 25 January 2021.
The Stock Short Name, Stock Number and ISIN Code of the Warrants C are “XOX-WC”, “0165WC” and “MYQ0165WCY11” respectively.
Date Announced: 21 Jan 2021
Stock
2021-01-21 15:44 | Report Abuse
Superb Great news for XOX die-hard supporters !
XOX-WC will be start trading on 9.00 a.m., Monday, 25 January 2021.
Stock
2021-01-21 15:20 | Report Abuse
Jack Mak, are you God?
Why you can draw the arrow pointer to lower level of 0.05, and then why not you draw the arrow upward to make it level to the highest point of 0.39 ?
Anything in future we can't simply drawing the point as what we wanted, you know ?
unless you're the God !
Do you agree with me ?
For you information,
Previously after economy downturn, definitely will follow will a bull market and prosperity of
economy, you can see after we facing downturn in :
1)Economy downturn 1986-1990, economy start booming from 1991 to 1997
2)Economy downturn 1997-2000, economy start booming from 2001 to 2007
3)Economy downturn 2007-2010, economy start booming from 2011 to 2015
3)Economy downturn 2015-2020, economy start booming from 2021 to 2027
And the pandemic already last for about one year plus,
since many positive things for example the vaccine is coming to our country (most of the countries in the world already injected the vaccine), i strongly believe this year onwards will be the uptrend time for world stock market including KLSE.
You can see right now all stock markets in the world already spike up like mad and especially Asian stock market i.e Hong Kong, Shanghai, Nikkei, Korea Kopsi, Taiwan Weighted index, Singapore STI was already in their bull run !
We will be very soon also follow to spike up like mad !
And XOX definitely will be very soon to break 0.50 , 0.80, RM1.00, RM3.00, RM5.00 and above !
Heng ah , Ong ah, Huat ah !
Stock
2021-01-21 12:48 | Report Abuse
That's why lor, i mean wanted to make the XOX-WC limit up very easy nia...
Then the mother share together also spike up like mad with it's warrants C lor...
don't say this you also said it never happend, are you god, you can predict the future that
the thing will happend and the thing will not happend ?
So funny!
Stock
2021-01-21 12:37 | Report Abuse
AdamRan_2011, then how about Scientx-WC, today it's first day listing and already limit up ...
What you said ?
Stock
2021-01-21 12:18 | Report Abuse
You can see also how powerful is the first time listing, HPPHB for example....
It's offer price is 0.36, today just 2nd day of listing only, it's price
already reach 0.92 (+0.56) (+155.6%) !
So, for me, i will not sell my XOX Warrants C at all.
Maybe when it's price touch 0.80 i will consider to sell some.
Heng ah, Ong ah, Huat ah !
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Stock
2021-01-20 20:43 | Report Abuse
XOX warrants C already transferred into Depositor’s Securities Account !
Remarks :
The Warrants C will be credited into the central depository system accounts of the entitled shareholders of the Company ("Entitled Shareholders") and notices of allotment will be issued and despatched to the Entitled Shareholders at the address as per the Record of Depositors of the Company prior to the date of listing and quotation of the Warrants C.
The Warrants C will be listed and quoted on the ACE Market of Bursa Malaysia Securities Berhad ("Bursa Securities") within 2 market days after the receipt of the quotation application by Bursa Securities.
This announcement is dated 4 January 2021.
You can contact XOX’s management to check on this if you still haven’t received the XOX warrants C
URL: https://www.xox.com.my/
Tel: 011-11565808
Stock
2021-01-20 18:20 | Report Abuse
Yes, tommorrow listing of XOX Warrants C definitely will be a tremendous stunning day for XOX ...
Cheers to you all guys !
Heng ah, Ong ah, Huat ah !
Stock
2021-01-20 15:38 | Report Abuse
KUALA LUMPUR: Bank Negara Malaysia’s Monetary Policy Committee (MPC) kept the Overnight Policy Rate (OPR) unchanged at 1.75% during its meeting on Wednesday.
It said in a statement for Malaysia, the resurgence in Covid-19 cases and the introduction of targeted containment measures had affected the recovery momentum in the fourth quarter of 2020.
“As a result, growth for 2020 is expected to be near the lower end of the earlier forecasted range.
“For 2021, while near-term growth will be affected by the re-introduction of stricter containment measures, the impact will be less severe than that experienced in 2020, ” it said.
However, Bank Negara said the growth trajectory was projected to improve from the second quarter onwards.
Stock
2021-01-20 15:38 | Report Abuse
Wednesday, 20 Jan 2021 3:08 PM MYT
https://www.thestar.com.my/business/business-news/2021/01/20/bank-negara-maintains-opr-at-175
Stock
2021-01-20 15:37 | Report Abuse
Wednesday, 20 Jan 2021 3:08 PM MYT
https://www.thestar.com.my/business/business-news/2021/01/20/bank-negara-maintains-opr-at-175
KUALA LUMPUR: Bank Negara Malaysia’s Monetary Policy Committee (MPC) kept the Overnight Policy Rate (OPR) unchanged at 1.75% during its meeting on Wednesday.
It said in a statement for Malaysia, the resurgence in Covid-19 cases and the introduction of targeted containment measures had affected the recovery momentum in the fourth quarter of 2020.
“As a result, growth for 2020 is expected to be near the lower end of the earlier forecasted range.
“For 2021, while near-term growth will be affected by the re-introduction of stricter containment measures, the impact will be less severe than that experienced in 2020, ” it said.
However, Bank Negara said the growth trajectory was projected to improve from the second quarter onwards.
Stock
2021-01-20 15:37 | Report Abuse
Wednesday, 20 Jan 2021 3:08 PM MYT
https://www.thestar.com.my/business/business-news/2021/01/20/bank-negara-maintains-opr-at-175
KUALA LUMPUR: Bank Negara Malaysia’s Monetary Policy Committee (MPC) kept the Overnight Policy Rate (OPR) unchanged at 1.75% during its meeting on Wednesday.
It said in a statement for Malaysia, the resurgence in Covid-19 cases and the introduction of targeted containment measures had affected the recovery momentum in the fourth quarter of 2020.
“As a result, growth for 2020 is expected to be near the lower end of the earlier forecasted range.
“For 2021, while near-term growth will be affected by the re-introduction of stricter containment measures, the impact will be less severe than that experienced in 2020, ” it said.
However, Bank Negara said the growth trajectory was projected to improve from the second quarter onwards.
Stock
2021-01-20 15:36 | Report Abuse
KUALA LUMPUR: Bank Negara Malaysia’s Monetary Policy Committee (MPC) kept the Overnight Policy Rate (OPR) unchanged at 1.75% during its meeting on Wednesday.
It said in a statement for Malaysia, the resurgence in Covid-19 cases and the introduction of targeted containment measures had affected the recovery momentum in the fourth quarter of 2020.
“As a result, growth for 2020 is expected to be near the lower end of the earlier forecasted range.
“For 2021, while near-term growth will be affected by the re-introduction of stricter containment measures, the impact will be less severe than that experienced in 2020, ” it said.
However, Bank Negara said the growth trajectory was projected to improve from the second quarter onwards.
Stock
2021-01-20 15:35 | Report Abuse
Wednesday, 20 Jan 2021 3:08 PM MYT
https://www.thestar.com.my/business/business-news/2021/01/20/bank-negara-maintains-opr-at-175
Stock
2021-01-20 15:33 | Report Abuse
Wednesday, 20 Jan 2021 3:08 PM MYT
https://www.thestar.com.my/business/business-news/2021/01/20/bank-negara-maintains-opr-at-175
KUALA LUMPUR: Bank Negara Malaysia’s Monetary Policy Committee (MPC) kept the Overnight Policy Rate (OPR) unchanged at 1.75% during its meeting on Wednesday.
It said in a statement for Malaysia, the resurgence in Covid-19 cases and the introduction of targeted containment measures had affected the recovery momentum in the fourth quarter of 2020.
“As a result, growth for 2020 is expected to be near the lower end of the earlier forecasted range.
“For 2021, while near-term growth will be affected by the re-introduction of stricter containment measures, the impact will be less severe than that experienced in 2020, ” it said.
However, Bank Negara said the growth trajectory was projected to improve from the second quarter onwards.
Stock
2021-01-20 15:33 | Report Abuse
Bank Negara maintains OPR at 1.75%
Wednesday, 20 Jan 2021 3:08 PM MYT
https://www.thestar.com.my/business/business-news/2021/01/20/bank-negara-maintains-opr-at-175
KUALA LUMPUR: Bank Negara Malaysia’s Monetary Policy Committee (MPC) kept the Overnight Policy Rate (OPR) unchanged at 1.75% during its meeting on Wednesday.
It said in a statement for Malaysia, the resurgence in Covid-19 cases and the introduction of targeted containment measures had affected the recovery momentum in the fourth quarter of 2020.
“As a result, growth for 2020 is expected to be near the lower end of the earlier forecasted range.
“For 2021, while near-term growth will be affected by the re-introduction of stricter containment measures, the impact will be less severe than that experienced in 2020, ” it said.
However, Bank Negara said the growth trajectory was projected to improve from the second quarter onwards.
Stock
2021-01-20 15:29 | Report Abuse
Millions rush into bullish China stocks, euphoria spills into Hong Kong
Wednesday, 20 Jan 2021 11:16 AM MYT
https://www.thestar.com.my/business/business-news/2021/01/20/millions-rush-into-bullish-china-stocks-euphoria-spills-into-hong-kong
SHANGHAI: Chinese mom-and-pop investors are stampeding into the stock market for fear of missing out on the bull run, with more than 1.6 million share trading accounts newly opened in December, doubling from a year earlier, latest data shows.
Mainland euphoria is also spilling across the border, with a record amount of Chinese money gushing into Hong Kong-listed stocks such as Tencent Holdings and Xiaomi Corp via the Stock Connect trading scheme.
The number of Chinese individual stock investors rose 11% on year to 177.4 million at the end of 2020. During each of the past 10 months, more than a million people opened trading accounts, data from China's securities clearing house showed.
China's benchmark CSI300 Index is flirting with record highs as the government seeks to channel household money into stocks to fund innovation, while curbing investment in real estate.
Investor optimism was also fueled by Beijing's bold capital market reforms and China's quick recovery from the coronavirus-triggered slump in early 2019.
Stock
2021-01-20 15:28 | Report Abuse
Millions rush into bullish China stocks, euphoria spills into Hong Kong
Wednesday, 20 Jan 2021 11:16 AM MYT
https://www.thestar.com.my/business/business-news/2021/01/20/millions-rush-into-bullish-china-stocks-euphoria-spills-into-hong-kong
SHANGHAI: Chinese mom-and-pop investors are stampeding into the stock market for fear of missing out on the bull run, with more than 1.6 million share trading accounts newly opened in December, doubling from a year earlier, latest data shows.
Mainland euphoria is also spilling across the border, with a record amount of Chinese money gushing into Hong Kong-listed stocks such as Tencent Holdings and Xiaomi Corp via the Stock Connect trading scheme.
The number of Chinese individual stock investors rose 11% on year to 177.4 million at the end of 2020. During each of the past 10 months, more than a million people opened trading accounts, data from China's securities clearing house showed.
China's benchmark CSI300 Index is flirting with record highs as the government seeks to channel household money into stocks to fund innovation, while curbing investment in real estate.
Investor optimism was also fueled by Beijing's bold capital market reforms and China's quick recovery from the coronavirus-triggered slump in early 2019.
Stock
2021-01-20 15:28 | Report Abuse
SHANGHAI: Chinese mom-and-pop investors are stampeding into the stock market for fear of missing out on the bull run, with more than 1.6 million share trading accounts newly opened in December, doubling from a year earlier, latest data shows.
Mainland euphoria is also spilling across the border, with a record amount of Chinese money gushing into Hong Kong-listed stocks such as Tencent Holdings and Xiaomi Corp via the Stock Connect trading scheme.
The number of Chinese individual stock investors rose 11% on year to 177.4 million at the end of 2020. During each of the past 10 months, more than a million people opened trading accounts, data from China's securities clearing house showed.
China's benchmark CSI300 Index is flirting with record highs as the government seeks to channel household money into stocks to fund innovation, while curbing investment in real estate.
Investor optimism was also fueled by Beijing's bold capital market reforms and China's quick recovery from the coronavirus-triggered slump in early 2019.
Stock
2021-01-20 15:28 | Report Abuse
Millions rush into bullish China stocks, euphoria spills into Hong Kong
Wednesday, 20 Jan 2021 11:16 AM MYT
https://www.thestar.com.my/business/business-news/2021/01/20/millions-rush-into-bullish-china-stocks-euphoria-spills-into-hong-kong
Stock
2021-01-20 15:27 | Report Abuse
Millions rush into bullish China stocks, euphoria spills into Hong Kong
Wednesday, 20 Jan 2021 11:16 AM MYT
https://www.thestar.com.my/business/business-news/2021/01/20/millions-rush-into-bullish-china-stocks-euphoria-spills-into-hong-kong
SHANGHAI: Chinese mom-and-pop investors are stampeding into the stock market for fear of missing out on the bull run, with more than 1.6 million share trading accounts newly opened in December, doubling from a year earlier, latest data shows.
Mainland euphoria is also spilling across the border, with a record amount of Chinese money gushing into Hong Kong-listed stocks such as Tencent Holdings and Xiaomi Corp via the Stock Connect trading scheme.
The number of Chinese individual stock investors rose 11% on year to 177.4 million at the end of 2020. During each of the past 10 months, more than a million people opened trading accounts, data from China's securities clearing house showed.
China's benchmark CSI300 Index is flirting with record highs as the government seeks to channel household money into stocks to fund innovation, while curbing investment in real estate.
Investor optimism was also fueled by Beijing's bold capital market reforms and China's quick recovery from the coronavirus-triggered slump in early 2019.
Stock
2021-01-20 15:27 | Report Abuse
Millions rush into bullish China stocks, euphoria spills into Hong Kong
Wednesday, 20 Jan 2021 11:16 AM MYT
https://www.thestar.com.my/business/business-news/2021/01/20/millions-rush-into-bullish-china-stocks-euphoria-spills-into-hong-kong
SHANGHAI: Chinese mom-and-pop investors are stampeding into the stock market for fear of missing out on the bull run, with more than 1.6 million share trading accounts newly opened in December, doubling from a year earlier, latest data shows.
Mainland euphoria is also spilling across the border, with a record amount of Chinese money gushing into Hong Kong-listed stocks such as Tencent Holdings and Xiaomi Corp via the Stock Connect trading scheme.
The number of Chinese individual stock investors rose 11% on year to 177.4 million at the end of 2020. During each of the past 10 months, more than a million people opened trading accounts, data from China's securities clearing house showed.
China's benchmark CSI300 Index is flirting with record highs as the government seeks to channel household money into stocks to fund innovation, while curbing investment in real estate.
Investor optimism was also fueled by Beijing's bold capital market reforms and China's quick recovery from the coronavirus-triggered slump in early 2019.
Stock
2021-01-20 12:34 | Report Abuse
Hang Seng Index renews attempt at 30,000 level as Hong Kong stocks rally on mainland fund inflows
Iris Ouyang Published: 11.02am, 20-1-2021
https://www.scmp.com/business/markets/article/3118428/hang-seng-index-renews-attempt-30000-level-hong-kong-stocks-rally
Hang Seng Index comes within 0.37 per cent of surpassing the 30,000 level last seen on May 3, 2019
Technology stocks rally with Meituan, China Mobile and Tencent rising more than 2 per cent; bourse operator HKEX reaches another record
Stock
2021-01-20 12:33 | Report Abuse
Hang Seng Index renews attempt at 30,000 level as Hong Kong stocks rally on mainland fund inflows
Iris Ouyang Published: 11.02am, 20-1-2021
https://www.scmp.com/business/markets/article/3118428/hang-seng-index-renews-attempt-30000-level-hong-kong-stocks-rally
Hang Seng Index comes within 0.37 per cent of surpassing the 30,000 level last seen on May 3, 2019
Technology stocks rally with Meituan, China Mobile and Tencent rising more than 2 per cent; bourse operator HKEX reaches another record
Stock
2021-01-20 12:33 | Report Abuse
Hang Seng Index renews attempt at 30,000 level as Hong Kong stocks rally on mainland fund inflows
Iris Ouyang Published: 11.02am, 20-1-2021
https://www.scmp.com/business/markets/article/3118428/hang-seng-index-renews-attempt-30000-level-hong-kong-stocks-rally
Hang Seng Index comes within 0.37 per cent of surpassing the 30,000 level last seen on May 3, 2019
Technology stocks rally with Meituan, China Mobile and Tencent rising more than 2 per cent; bourse operator HKEX reaches another record
Stock
2021-01-20 12:13 | Report Abuse
Hang Seng Index renews attempt at 30,000 level as Hong Kong stocks rally on mainland fund inflows
Iris Ouyang Published: 11.02am, 20-1-2021
https://www.scmp.com/business/markets/article/3118428/hang-seng-index-renews-attempt-30000-level-hong-kong-stocks-rally
Hang Seng Index comes within 0.37 per cent of surpassing the 30,000 level last seen on May 3, 2019
Technology stocks rally with Meituan, China Mobile and Tencent rising more than 2 per cent; bourse operator HKEX reaches another record
Stock
2021-01-20 12:13 | Report Abuse
Hang Seng Index renews attempt at 30,000 level as Hong Kong stocks rally on mainland fund inflows
Iris Ouyang Published: 11.02am, 20-1-2021
https://www.scmp.com/business/markets/article/3118428/hang-seng-index-renews-attempt-30000-level-hong-kong-stocks-rally
Hang Seng Index comes within 0.37 per cent of surpassing the 30,000 level last seen on May 3, 2019
Technology stocks rally with Meituan, China Mobile and Tencent rising more than 2 per cent; bourse operator HKEX reaches another record
Stock
2021-01-20 12:13 | Report Abuse
Hang Seng Index renews attempt at 30,000 level as Hong Kong stocks rally on mainland fund inflows
Iris Ouyang Published: 11.02am, 20-1-2021
https://www.scmp.com/business/markets/article/3118428/hang-seng-index-renews-attempt-30000-level-hong-kong-stocks-rally
Hang Seng Index comes within 0.37 per cent of surpassing the 30,000 level last seen on May 3, 2019
Technology stocks rally with Meituan, China Mobile and Tencent rising more than 2 per cent; bourse operator HKEX reaches another record
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2021-01-20 11:40 | Report Abuse
Circular to Shareholders in relation to the: Proposed disposal by Amsteel Mills Sdn Bhd, a 99% owned subsidiary of the Company, of the hot-briquetted iron plant and business in Labuan by disposing of the entire 100% equity interest in Antara Steel Mills Sdn Bhd ("Antara") for the Adjusted Consideration (as defined in the Circular) of approximately USD169.84 million (equivalent to approximately RM699.73 million) based on Antara's Proforma Closing Accounts (as defined in the Circular) as at 31 October 2020 and shall be payable in cash in accordance with the terms set out in the Agreement (as defined in the Circular).
https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3122414
Stock
2021-01-20 11:17 | Report Abuse
Property sector on recovery path
Wednesday, 20 Jan 2021
https://www.thestar.com.my/business/business-news/2021/01/20/property-sector-on-recovery-path
PETALING JAYA: The property sector is poised for recovery in 2021, driven by a better economic outlook and historically low interest rate environment as well as pent-up demand.
Maybank IB Research expects buying sentiment on properties to improve in anticipation of a better economic outlook this year.
It also opined that sales for the first half of this year would perform better than the second half as buyers are expected to make full use of the Home Ownership Campaign (HOC) 2020 before it ends on May 31,2021.
“Property sales spiked up in May-June 2019 before the government extended the HOC 2019’s timeline to end-December 2019 from June 2019.
“We reckon a similar buying pattern may repeat and there could be a rush into buying property before the end of HOC 2020 on May 31,2021, particularly for properties priced above RM500,000, ” it said.
Last year was a challenging one for developers as the property sector faced a triple whammy of oversupply, a weak economy and the coronavirus pandemic, which led to various phases of the movement control order (MCO).
During the initial phase of the MCO, construction works were halted completely while sales galleries were closed for months and this led to weak sales and earnings performance in the first half of 2020.
Most of the developers under Maybank IB’s coverage had recorded losses in the nine-month period of last year, partly due to huge impairment losses.
While developers acclimatised to the “new norm” through digitalisation and virtualisation and aggressively marketed their products online, the government had also introduced a few policy easing measures during the Penjana last June.
These included stamp duty exemption on the instruments of transfer and loan agreement for the purchase of residential homes priced between RM300,000 and RM2.5mil, real property gains tax exemption for the disposal of residential homes from June 1,2020 to Dec 31,2021 and the lifting of the 70% financing margin limit on the third property onwards.
Stamp duty exemption on instruments of transfer and loan agreements for first-time home buyers for residential properties up to RM500,000 was also extended until Dec 31,2025.
These incentives, together with additional rebates offered by developers, will help reduce upfront costs related to property purchases, Maybank IB noted.
“Fiscal policy remains expansionary via Budget 2021 with a record spending allocation of RM322.5bil that includes an all-time high gross development expenditure.
“We also expect Bank Negara to stay accommodative to enable sustainable economic recovery and maintain the record-low overnight policy rate (OPR) of 1.75% until end-2021. Any change in the OPR this year will be cut(s) rather than hike(s), we believe. These will help to entice the potential property buyers into the market due to the cheaper costs for property purchases, ” the research house added.
Operationally, Maybank IB thinks developers are on “cleaner ground” post-kitchen sinking in 2020. The second MCO is expected to have a lower damage impact on sales.
However, Maybank IB highlighted that there are still risks to the sector, including political stability post-Emergency. Based on its observation, demand for big-ticket items such as properties usually drops around six months before a general election. Additionally, the economic recovery is reliant on the successful rollout of vaccines.
It also cautioned that the recovery in the local property market may be set back by the jump in the number of auctioned properties when the additional six-month targeted repayment assistance scheme expires end-June 2021.
“While demand-supply rebalancing will still take some time, we think the worst is over and homes sales may have hit bottom already and should improve year-on-year in 2021 on the above mentioned factors.”
Stock
2021-01-20 11:16 | Report Abuse
Property sector on recovery path
Wednesday, 20 Jan 2021
https://www.thestar.com.my/business/business-news/2021/01/20/property-sector-on-recovery-path
PETALING JAYA: The property sector is poised for recovery in 2021, driven by a better economic outlook and historically low interest rate environment as well as pent-up demand.
Maybank IB Research expects buying sentiment on properties to improve in anticipation of a better economic outlook this year.
It also opined that sales for the first half of this year would perform better than the second half as buyers are expected to make full use of the Home Ownership Campaign (HOC) 2020 before it ends on May 31,2021.
“Property sales spiked up in May-June 2019 before the government extended the HOC 2019’s timeline to end-December 2019 from June 2019.
“We reckon a similar buying pattern may repeat and there could be a rush into buying property before the end of HOC 2020 on May 31,2021, particularly for properties priced above RM500,000, ” it said.
Last year was a challenging one for developers as the property sector faced a triple whammy of oversupply, a weak economy and the coronavirus pandemic, which led to various phases of the movement control order (MCO).
During the initial phase of the MCO, construction works were halted completely while sales galleries were closed for months and this led to weak sales and earnings performance in the first half of 2020.
Most of the developers under Maybank IB’s coverage had recorded losses in the nine-month period of last year, partly due to huge impairment losses.
While developers acclimatised to the “new norm” through digitalisation and virtualisation and aggressively marketed their products online, the government had also introduced a few policy easing measures during the Penjana last June.
These included stamp duty exemption on the instruments of transfer and loan agreement for the purchase of residential homes priced between RM300,000 and RM2.5mil, real property gains tax exemption for the disposal of residential homes from June 1,2020 to Dec 31,2021 and the lifting of the 70% financing margin limit on the third property onwards.
Stamp duty exemption on instruments of transfer and loan agreements for first-time home buyers for residential properties up to RM500,000 was also extended until Dec 31,2025.
These incentives, together with additional rebates offered by developers, will help reduce upfront costs related to property purchases, Maybank IB noted.
“Fiscal policy remains expansionary via Budget 2021 with a record spending allocation of RM322.5bil that includes an all-time high gross development expenditure.
“We also expect Bank Negara to stay accommodative to enable sustainable economic recovery and maintain the record-low overnight policy rate (OPR) of 1.75% until end-2021. Any change in the OPR this year will be cut(s) rather than hike(s), we believe. These will help to entice the potential property buyers into the market due to the cheaper costs for property purchases, ” the research house added.
Operationally, Maybank IB thinks developers are on “cleaner ground” post-kitchen sinking in 2020. The second MCO is expected to have a lower damage impact on sales.
However, Maybank IB highlighted that there are still risks to the sector, including political stability post-Emergency. Based on its observation, demand for big-ticket items such as properties usually drops around six months before a general election. Additionally, the economic recovery is reliant on the successful rollout of vaccines.
It also cautioned that the recovery in the local property market may be set back by the jump in the number of auctioned properties when the additional six-month targeted repayment assistance scheme expires end-June 2021.
“While demand-supply rebalancing will still take some time, we think the worst is over and homes sales may have hit bottom already and should improve year-on-year in 2021 on the above mentioned factors.”
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2021-01-19 16:36 | Report Abuse
Ringgit rises on Permai announcement
https://www.thestar.com.my/business/business-news/2021/01/19/ringgit-rises-on-permai-announcement
KUALA LUMPUR: The ringgit opened higher against the US dollar today, boosted by Prime Minister Tan Sri Muhyiddin Yassin’s announcement of the RM15 billion Malaysian Economic and Rakyat’s Protection Assistance Package (PERMAI) package yesterday, as well as higher crude oil prices.
At 9.13 am, the ringgit rose to 4.0450/0490 versus the greenback, from 4.0500/0540 at Monday’s close.
A dealer said that crude oil prices are expected to stabilise in line with the progress in the COVID-19 vaccine rollout.
Stock
2021-01-19 16:36 | Report Abuse
Ringgit rises on Permai announcement
https://www.thestar.com.my/business/business-news/2021/01/19/ringgit-rises-on-permai-announcement
KUALA LUMPUR: The ringgit opened higher against the US dollar today, boosted by Prime Minister Tan Sri Muhyiddin Yassin’s announcement of the RM15 billion Malaysian Economic and Rakyat’s Protection Assistance Package (PERMAI) package yesterday, as well as higher crude oil prices.
At 9.13 am, the ringgit rose to 4.0450/0490 versus the greenback, from 4.0500/0540 at Monday’s close.
A dealer said that crude oil prices are expected to stabilise in line with the progress in the COVID-19 vaccine rollout.
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2021-01-19 16:36 | Report Abuse
Ringgit rises on Permai announcement
https://www.thestar.com.my/business/business-news/2021/01/19/ringgit-rises-on-permai-announcement
KUALA LUMPUR: The ringgit opened higher against the US dollar today, boosted by Prime Minister Tan Sri Muhyiddin Yassin’s announcement of the RM15 billion Malaysian Economic and Rakyat’s Protection Assistance Package (PERMAI) package yesterday, as well as higher crude oil prices.
At 9.13 am, the ringgit rose to 4.0450/0490 versus the greenback, from 4.0500/0540 at Monday’s close.
A dealer said that crude oil prices are expected to stabilise in line with the progress in the COVID-19 vaccine rollout.
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Stock: [XOX]: XOX BHD
2021-01-21 19:52 | Report Abuse
XOX in pact with Alipay Labs to offer blockchain solutions in Asia Pacific
By Sharen Kaur
August 26, 2020 @ 7:54pm
https://www.google.com/amp/s/www.nst.com.my/amp/business/2020/08/619661/xox-pact-alipay-offer-blockchain-solutions-asia-pacific
KUALA LUMPUR: XOX Bhd has formed a strategic collaboration with Alipay Labs (Singapore) Pte Ltd, an affiliate company of Chinese billionaire Jack Ma's Ant Group Co Ltd, to offer blockchain-based solutions in the Asia Pacific region including Malaysia.
Alipay is the largest player in China's 430 trillion yuan third-party mobile payments market, according to the market research firm Qianzhan.