Posted by Victor Yong > 2019-10-11 11:13 | Report Abuse

Prospects for the next financial year
With the introduction of Home Ownership Campaign (“HOC”) by the Government, the property sector
have shown improvement as the campaign has stirred interest among homebuyers. With the Group’s
experience in residential development, the outlook for the Group is positive given that the Group is
expecting several key launches at Cybersouth and Lakefront @ Cyberjaya project by the end of
2019. The focus will remain at residential properties that are priced between RM250,000 and
RM750,000, with some commercial units to complement the completed projects. The Group’s
landbanking efforts in 2018 will also bear fruit in 2019 as the Group is targeting to launch the first
phase of the newly acquired land in Subang Jaya by 4Q 2019.

Posted by Victor Yong > 2019-10-11 11:27 | Report Abuse

Retained earnings RM 412,068,000 @30.6.19 CAN URGE MCT TO PAY DIVIDEND IF NOT PRIVATISED YET DURING THE NEXT AGM :)

Posted by Victor Yong > 2019-10-11 13:56 | Report Abuse

Wrote so much, target price 65sen only :)

MCT - Boosted by Casawood
Author: kltrader Publish date: Fri, 1 Mar 2019, 11:01 AM

MCT’s 2Q2018 (FYE: DEC 2018) core earnings more than doubled to RM37m driven by revenue contribution from the newly-launched Casawood project. Overall, 6-months FYEDec2018 core earnings exceeded our estimate at 139%.
MCT expects to launch at least another 2 new projects at Tropicana Metropark and Tropicana Grande 2 in 2019.
Maintain HOLD with an unchanged RM0.65 TP pegging 10x PE on 2019F EPS. While this is below the sector’s 5-year historical average of 12.0x, we think it is fair amidst the weak property market.
Core profits improved on newly-launched Casawood
2Q2018 (FYE: DEC) core profits surged yoy to more than double to RM37m driven by contribution from the newly-launched project, Casawood @ Cybersouth. The project was launched in May 2018 with current take up rate already at 52%. In contrast, most projects then were near completion in 2QFY18 (Oct-Dec 2017). Overall, the 6-month 2018 core earnings exceeded our estimates at 139%.

Stronger qoq performance
On qoq basis, revenue grew 45% to RM182m on the back of progress billing of existing development projects being recognised including Lakefront Residence Phase 2, Lakefront PRIMA and Belleveu @ Cybersouth. On the other hand, Greencasa @ Cybersouth project was completed and delivered in Oct 2018 followed by Lakefront Residence Phase 1 and Casa 2b @ Cybersouth in Nov 2018. There was no new launch during the quarter.

Looking forward to new project
MCT guided for at least 2 new project launches in 2019 including Tropicana Metropark and Tropicana Grande 2. Both projects are located in prime area with good accessibility. The proposed Tropicana Metropark entails the development of 1,400 units of serviced apartment worth RM570m. It is located within the vicinity of Subang Jaya and is linked to the newly-opened direct access to Federal Highway [ie. where the Batu 3 Toll was situated]. Meanwhile, Tropicana Grande 2 entails the development of 226 units of residential condominium worth RM265m. It is located within Tropicana Golf and Country Resort which is nearby to Surian MRT and Lembah Subang LRT.

HOLD with unchanged TP of RM0.65
Maintain HOLD with unchanged TP of RM0.65 pegging 10x P/E on 2019F EPS. While this is below the sector’s 5-year historical average of 12.0x, we think it is fair in view of the soft property market backdrop. On other hand, long term proposition remains, in view of: i) huge unbilled sales of more than RM1bn; ii) low net gearing of 0.02x and iii) most landbanks located in prime locations.

Source: BIMB Securities Research - 1 Mar 2019

Posted by Victor Yong > 2019-10-11 13:57 | Report Abuse

Already Net cash position based on this article published in July 2019 :)

MCT aims for RM650m sales from new projects
JULY 2, 2019 @ 1:07PM
BY NST BUSINESS

KUALA LUMPUR: MCT Bhd, a unit of the Philippines' Ayala Land Inc, plans to roll out new property launches with estimated gross development value (GDV) of RM650 million.

The projects included Sanderling Lakefront Residences @ Cyberjaya, Casa Bayu @ CyberSouth and Alira @ Metropark Subang, MCT said in a statement today.

The company also said its shareholders had approved all the resolutions to support its growth, and this included the appointment of Teh Heng Chong as chief executive officer.

Its board of directors recently appointed Apollo “Pol” Bello Tanco as chief operating officer and Susan Jacob Secreto as chief finance officer.

The two executives previously held senior management roles in Ayala Land and have more than 20 years of experience in the property development industry.

“To improve quality standards in our developments, we have taken decisive steps which includes the setting up of an independent project management team to review the delivery and quality control system, and better monitoring development systems in all current and new projects,” said Pol Tanco in the statement.

MCT said its aggressive moves to complete and deliver projects had resulted in it recording a net profit of RM60.5 million last year.

Secreto said the company’s cash and bank balances had increased to RM344.4 million from RM186.7 million, up 84.4 per cent from 2017.

The increase in cash and bank balances further reduced MCT’s net debt-to-equity ratio from 5.8 per cent to a net cash position.

MCT recently increased its total landbank size with two acquisitions in Subang Jaya and Petaling Jaya, estimated to generate a GDV of about RM1.6 billion for the company in the next five years.

Secreto said unbilled sales amounting to RM814.0 million would sustain MCT for the next two years.

Posted by Victor Yong > 2019-10-11 13:58 | Report Abuse

The increase in cash and bank balances further reduced MCT’s net debt-to-equity ratio from 5.8 per cent to a net cash position. :)

Posted by Victor Yong > 2019-10-11 14:00 | Report Abuse

Published in July 2019, sustain for 2 years , July 2020, July 2021,. Also many new launches, good ... Profitable, net cash position, growing, etc.


Secreto said unbilled sales amounting to RM814.0 million would sustain MCT for the next two years.

Posted by Victor Yong > 2019-10-11 14:03 | Report Abuse

Retained earnings is about half a billion, net cash position, anytime boleh bagi dividend, :)

Posted by Victor Yong > 2019-10-11 14:04 | Report Abuse

Want offer new MGO , kiv dividend payout, likely :)

Posted by Victor Yong > 2019-10-11 17:30 | Report Abuse

:)

Public spread still below requirements as at August. MCT announced on 9 Aug that its public shareholding spread stood at 24.59% from 18.74% as at March – this was still non-compliant with the public shareholding spread requirement of at least 25%. To address this, the group plans to discuss with its major shareholders on the possibility of selling down their shareholdings. It also intends to engage with investment banks on private placement exercises to those deemed public. The group also wants to increase communication with potential investors, analysts, research houses, and shareholders to instil investor confidence.

Posted by Victor Yong > 2019-10-11 17:31 | Report Abuse

pay dividend, more branding, explain what ayala did, etc if The group wants to increase communication with potential investors, analysts, research houses, and shareholders to instil investor confidence.

Posted by Victor Yong > 2019-10-11 17:33 | Report Abuse

Tan Sri Dato’ Sri Abi Musa
Asa’ari Bin Mohamed Nor
Independent Non-Executive Director and
Chairman
B oar d Meet i n g Atten d ance
8/8
Tan Sri Dato’ Sri Abi Musa Asa’ari Bin Mohamed
Nor was appointed to the Board as an Independent
Non-Executive Director on 1 April 2015 and was
subsequently re-designated as the Chairman of the
Company on 3 April 2015. He is the Chairman of the
Remuneration Committee and serves as a member of
the Audit and Risk Management Committee and the
Nomination Committee.
Tan Sri Dato’ Sri Abi Musa Asa’ari holds a Bachelor of
Economics (Hons) from University of Malaya and D.D.A
from University of Birmingham, United Kingdom.
He obtained a Master in Business Administration
from University of Birmingham, United Kingdom.
He also holds an Honorary Doctorate in Economic
Management from Universiti Pendidikan Sultan Idris.
Tan Sri Dato’ Sri Abi Musa Asa’ari has served the
Malaysian Government for 33 years in various
departments including the Public Services
Department, the National Bureau of Investigation,
National Institute of Public Administration and
Petroleum Development unit (under the Prime
Minister’s Department), the Ministry of Finance and
the Ministry of Agriculture. He joined Lembaga Tabung
Haji as Chairman in 2007, serving the organisation
until 2013. He also had served as Chairman in the Board
of Directors of University Pendidikan Sultan Idris.
Tan Sri Dato’ Sri Abi Musa Asa’ari currently is the
Chairman of Pelikan International Corporation Berhad
and a Director of Heitech Padu Bhd. listed on the Main
Market of Bursa Malaysia. He is also the Chairman of
the Graphene NanoChem PLC (United Kingdom) and
Pelikan AG (Germany).
Tan Sri Dato’ Sri Abi Musa Asa’ari attended all eight (8)
Board Meetings held during the financial year ended
30 June 2018.

Posted by Victor Yong > 2019-10-11 17:34 | Report Abuse

Jose Juan Z. Jugo
Non-Independent Executive Director and
Chief Executive Officer
B oar d Meet i n g Atten d ance
7/8
Mr. Jose Juan Z. Jugo was appointed to the Board
as Non-Independent Non-Executive Director on 20
January 2017 and subsequently was re-designated
as Non-Independent Executive Director and Chief
Executive Officer on 15 March 2017.
He finished his graduate studies in 1995 at the Escuela
Superiór de Estudios de Márketing de Madrid in
Spain with a Masters in Marketing and Commercial
Management. From 1996 to 2000, he held
management positions in San Miguel Corporation
and Avon Cosmetics, Inc.
He was a Vice President in Ayala prior to joining MCT.
There, he last held the position of Managing Director
of Ayala Land Premier, the residential brand that
addresses the luxury market in the Philippines.
He holds board positions in private Philippines-based
corporations Ayala Hotels, Inc., BG West Properties,
Inc., Aviana Development Corporation, Serendra, Inc.,
South Portal Properties, Inc., Verde Golf Corporation,
OLC Development Corporation, and Amicassa Process
Solutions, Inc.
He is currently serving as an Executive Director on the
Board of the Group.
He attended seven (7) out of eight (8) Board Meetings
held during the financial year ended 30 June 2018.
He does not hold any other directorship in public
companies and listed issuers in Malaysia.

Posted by Victor Yong > 2019-10-11 17:34 | Report Abuse

Tan Sri Dato’ Sri Goh Ming Choon was appointed
to the Board as Non-Independent Executive
Deputy Chairman on 1 April 2015 and he was later
re-designated as Non-Independent Non-Executive
Director on 30 November 2016.
Tan Sri Dato’ Sri Goh holds a Diploma in Technology
(Electronic Engineering) from Tunku Abdul Rahman
College (now known as Tunku Abdul Rahman
University College) conferred in 1990.
Tan Sri Dato’ Sri Goh has over 19 years of working
experience in property development and
construction, and has been involved in the civil
construction business since 1997. He together with
Dato’ Sri Tong Seech Wi and Dato’ Goh Meng Keong
are the founders of Modular Construction Technology
Sdn. Bhd., which commenced operations in 1999.
He was also instrumental in the incorporation of
MCT Consortium Sdn. Bhd. (now known as MCT
Consortium Bhd.) in 2004 to restructure B&G Capital
Resources Berhad and Modular Construction
Technology Sdn. Bhd. to focus on property
development, investment and construction.
Tan Sri Dato’ Sri Goh is currently the Chairman and
Executive Director of BGMC International Limited,
a company listed in the main board of The Stock
Exchange of Hong Kong Limited on 9 August 2017.
Tan Sri Dato’ Sri Goh is also currently the Chairman
and Executive Director of Kingsley Edugroup Limited,
a company listed in the GEM of The Stock Exchange of
Hong Kong Limited on 16 May 2018.
Tan Sri Dato’ Sri Goh attended five (5) out of eight (8)
Board Meetings held during the financial year ended
30 June 2018.
He does not hold any other directorship in public
companies and listed issuers in Malaysia.

Posted by Victor Yong > 2019-10-11 17:35 | Report Abuse

Mr. Bernard Vincent Olmedo Dy was appointed to the
Board as Non-Independent Non-Executive Director
on 3 April 2015, and is a member of the Remuneration
Committee and the Nomination Committee.
He is the President and Chief Executive Officer
of Ayala and also the Chairman of Prime Orion
Philippines, Inc. He received his Undergraduate
Degree in Business Administration from the
University of Notre Dome in 1985 and earned his
Master’s Degree in Business Administration and M.A.
in International Relations from the University of
Chicago in 1989 and 1997 respectively.
In 2015, he was inducted as a member of the
Advisory Council of the National Advisory Group
for the Police Transformation Development of
the Philippine National Police and in 2017, he was
elected Vice Chairman of the Junior Golf Foundation
of the Philippines.
Prior to joining Ayala in 1997, he spent 16 years outside
of Philippines and held senior regional roles for
multinational companies in Hong Kong and China.
He attended six (6) out of eight (8) Board Meetings
held during the financial year ended 30 June 2018.
He does not hold any other directorship in public
companies and listed issuers in Malaysia.

Posted by Victor Yong > 2019-10-11 17:35 | Report Abuse

Ms. Anna Maria Margarita Bautista Dy was appointed
to the Board as Non-Independent Non-Executive
Director on 7 May 2015 and served as a member of the
Audit and Risk Management Committee.
She is presently the Senior Vice President and
a member of the Management Committee
of Ayala and Head of Strategic Landbank
Management. Her other significant positions
are: Director and Executive Vice President of Fort
Bonifacio Development Corporation; Director
of Cebu Holdings, Inc.; Director and President of
Nuevocentro, Inc. and Alviera Country Club, Inc.;
Director of Aurora Properties, Inc., Vesta Properties
Holdings, Inc., CECI Realty, Inc., and Next Urban
Alliance Development Corp.
Prior to joining Ayala, she was the Vice President of
Benpress Holdings Corporation.
She graduated magna cum laude from Ateneo De
Manila University with a Bachelor of Arts Degree
under the university’s Economics Honors Program.
She earned her Master’s Degree in Economics from
London School of Economics and Political Science in
United Kingdom and her MBA at Harvard Business
School in Boston, USA.
She attended four (4) out of eight (8) Board Meetings
held during the financial year ended 30 June 2018.
She does not hold any other directorship in public
companies and listed issuers in Malaysia.

Posted by Victor Yong > 2019-10-11 17:36 | Report Abuse

Tan Sri Dato’ Hj. Abd Karim Bin Shaikh Munisar,
PSM, DSSA, SSA, KMN, ASA, was appointed to the
Board as Independent Non-Executive Director on
22 December 2015. He was later re-designated
as Chairman of the Nomination Committee on
24 February 2017. He also served as a member of the
Audit and Risk Management Committee and the
Remuneration Committee.
Tan Sri Dato’ Hj. Abd Karim holds a Master in
Business Administration (Business Finance) from
University of Edinburgh, Advanced Diploma in
Economic Development (with Distinction) from
University of Manchester, United Kingdom and
Bachelor of Economics (Hons) from University of
Malaya. He also attended an Advance Course in
Urban Planning JICA in Tokyo, Japan.
In 1974, Tan Sri Dato’ Hj. Abd Karim was the
Assistant Director at the Ministry of Finance,
Malaysia. Between 1975-1980, he held different
positions in various districts in the state of Perak as
Assistant District Officer, Kinta; Chairman of Kinta
District Council; Assistant District Officer 1, Kampar;
Chairman of Kampar/Gopeng Municipal Council and
also Assistant State Secretary of Perak (UPEN).
Tan Sri Dato’ Hj. Abd Karim was the Chief Assistant
District Officer 1 (Land) of Kuantan District Office and
Chief Assistant State Secretary of Pahang (Housing
Division) in 1980; Deputy Director of Klang Valley
Planning Secretariat, Prime Minister Department
in 1982; Chief Assistant State Secretary of Selangor
(Local Authority Division) in 1987.
Tan Sri Dato’ Hj. Abd Karim also served as the
President of Ampang Jaya Municipal Council from
1992 to 1996. He had an outstanding career in the
government sector and was the President of Petaling
Jaya Municipal Council in 2003 and 2004. Prior to
that, he was the District Officer cum Acting President
of Sepang District Council from 1998-2003. In 2005,
he agreed to join the corporate sector and was
appointed as President of Kumpulan Darul Ehsan
Berhad. Tan Sri Dato’ Hj. Abd Karim was previously
the Executive Chairman of various companies listed
in Bursa Malaysia such as Kumpulan Perangsang
Selangor Berhad, Kumpulan Hartanah Selangor
Berhad and Chairman of Taliworks Corporation
Berhad from 2004 to 2011.
He was also Chairman of various other companies
namely Konsortium Abass Sdn Bhd, Titisan Modal
Sdn Bhd, Central Spectrum Sdn Bhd, Cekal Tulin
Development Sdn Bhd, JAKS-KDEB Consortium Sdn
Bhd, Hydrovest Sdn Bhd and Perangsang Hotel &
Properties Sdn Bhd. In addition, Tan Sri Dato’ Hj. Abd
Karim was also a member of the Board of Directors
for Syarikat Bekalan Air Selangor Sdn Bhd (Syabas),
Syarikat Pengeluaran Air Selangor Holdings Berhad
(Splash), Cyberview Sdn Bhd and Alam Flora Sdn Bhd.
He attended all eight (8) Board Meetings held during
the financial year ended 30 June 2018.

Posted by Victor Yong > 2019-10-11 17:36 | Report Abuse

Mr. Lao Chok Keang was appointed as an Independent
Non-Executive Director on 24 February 2017 and was
subsequently appointed as the Chairman of the Audit
and Risk Management Committee.
He started his career in a public accounting firm
and is a member of the Malaysian Institute of
Accountants.
He has held several senior management positions in
large property development companies which include
being the Chief Operating Officer of Saujana Triangle
Sdn Bhd, the developer for the 800-acre township
development known as Damansara Perdana in
Petaling Jaya, Selangor. He was also the Director of
Murray Riverside Pty Ltd, the developer of a 1,000-
acre mixed development in Western Australia.
In 2004, he joined Setia Haruman Sdn Bhd, the
Master Developer of Cyberjaya, as Director/Chief
Operating Officer and has since been responsible for
the overall performance of the company. In 2013, he
assumed the position of Executive Director of Setia
Haruman Sdn Bhd. He was re-designated as Director/
Business Advisor in May 2016.
He attended all eight (8) Board Meetings held during
the financial year ended 30 June 2018.
He does not hold any other directorship in public
companies and listed issuers in Malaysia.

Posted by Victor Yong > 2019-10-11 17:37 | Report Abuse

Mr. Ching Hong Seng was appointed as Alternate
Director to Tan Sri Dato’ Sri Goh Ming Choon
on 13 August 2018.
He holds a Bachelor Degree in Accounting from
University of Malaya and he is a member of the
Malaysian Institute of Certified Public Accountants
(MICPA) and Malaysian Institute of Accountants (MIA).
He started his accounting and auditing career in
Messrs. Pricewaterhouse in 1998 before enhancing his
career by joining a medium-sized audit firm in 2002 to
lead the auditing and merger and acquisitions team.
He left the professional service industry and joined
Kumpulan Hartanah Selangor Berhad as a Senior
Manager, Finance in 2004 and went on to assume
the position as General Manager, Finance until 2012.
During his tenure, he also held several Director
positions within the subsidiary companies which
include SAP Holdings Berhad and Central Spectrum
(M) Sdn Bhd. After that, he went into freelance
consultancy services.
Currently, he holds the position as a Personal Finance
Officer to a chairman of a listed company.
He does not hold any other directorship in public
companies and listed issuers in Malaysia.

Posted by Victor Yong > 2019-10-11 17:39 | Report Abuse

LIST OF PROPERTIES HELD
COMPANY / Address
Land
Area
(AcRES) Existing use Tenure
Approximate
age of the
building
Remaining
useful life
of building
Net Book
Valueas at
30.06.2018
Year of
acquisition/
Year of
completion*
Timeless Hectares Sdn. Bhd.
Lot 0108632, Mukim Dengkil,
Daerah Sepang,
Selangor Darul Ehsan
23.10 Lakefront
(Land under
Development)
Freehold NA NA 34,506,960 25.03.2011
Lot 0108633, Mukim Dengkil,
Daerah Sepang,
Selangor Darul Ehsan
15.96 Lakefront
(Land under
Development)
Freehold NA NA 25.03.2011
Lot 0108634, Mukim Dengkil,
Daerah Sepang,
Selangor Darul Ehsan
18.78 Lakefront
(Land under
Development)
Freehold NA NA 24,845,000 25.03.2011
Lot 0108636, Mukim Dengkil,
Daerah Sepang,
Selangor Darul Ehsan
2.15 Lakefront
(Land under
Development)
Freehold NA NA 25.03.2011
Solid Recommendation Sdn. Bhd.
Lot 47336 Mukim Dengkil,
Daerah Sepang,
Selangor Darul Ehsan
11.13 Skypark @
Cyberjaya
(Land under
development)
Freehold NA NA 43,160,000 22.09.2010
Solid Benefit Sdn. Bhd.
Lot 104161 Mukim Dengkil,
Daerah Sepang,
Selangor Darul Ehsan
73.83 Cybersouth
(Land held for
development)
Leasehold
expiring
01.02.2104
NA 86 5,259,154 2008
Lot 104162 Mukim Dengkil,
Daerah Sepang,
Selangor Darul Ehsan
124.47 Cybersouth
(Land held for
development)
Leasehold
expiring
01.02.2104
NA 86 8,866,407 2008
Lot 104163 Mukim Dengkil,
Daerah Sepang,
Selangor Darul Ehsan
54.51 Cybersouth
(Land held for
development)
Leasehold
expiring
01.02.2104
NA 86 3,882,214 2008
Lot 104164 Mukim Dengkil,
Daerah Sepang,
Selangor Darul Ehsan
48.65 Cybersouth
(Land held for
development)
Leasehold
expiring
01.02.2104
NA 86 3,465,500 2008
Lot 47955 Mukim Dengkil,
Daerah Sepang,
Selangor Darul Ehsan
115.5 Cybersouth
(Land held for
development)
Leasehold
expiring
20.07.2104
NA 86 8,226,733 2009
One City Development Sdn. Bhd.
Lot 81278 Mukim Damansara,
Daerah Petaling,
Selangor Darul Ehsan
14.35 One City
Phase 3
(Land held for
development)
Freehold NA NA 10,907,612 1998
Lot 91374 Mukim Damansara,
Daerah Petaling,
Selangor Darul Ehsan
2.90 One City
Phase 3
(Land held for
development)
Freehold NA NA 2,592,388 2012
Vista Global Development Sdn. Bhd.
Lot PT12016, Mukim Dengkil,
Daerah Sepang,
Selangor Darul Ehsan
7.20 Cyber ONE
(Land held for
investment)
Freehold NA NA 31,371,912 20.09.2013

Posted by Victor Yong > 2019-10-11 17:40 | Report Abuse

COMPANY / Address
Land
Area
(AcRES) Existing use Tenure
Approximate
age of the
building
Remaining
useful life
of building
Net Book
Valueas at
30.06.2018
Year of
acquisition/
Year of
completion*
Nexus Advertising SDN. BHD.
Lot PT9303, Mukim Damansara,
Daerah Petaling,
Selangor Darul Ehsan
2.91 Land held for
investment
Leasehold
expiring
21.04.2086
NA NA 5,481,911 11.06.2012
Lot 3675, Mukim Damansara,
Daerah Petaling,
Selangor Darul Ehsan
1.92 Land held for
investment
Leasehold
10.08.2086
NA NA 11.06.2012
Undersea City Sdn. Bhd.
Lot 589, GM202,
Mukim Damansara,
Kg Bukit Lanchong,
47650 Daerah Petaling
3.00 Land held for
investment
Freehold NA NA 6,450,000 15.12.2015
The Place Properties Sdn. Bhd.
The Place @ Cyberjaya,
Jalan Teknokrat 1/1, Cyberjaya,
63000 Selangor Darul Ehsan
458,454 Basement
carpark and
retail lots
Freehold 3 years NA 30,054,232 31.03.2015*
Sky Park @ One City,
Jalan USJ 25/1,
47650 Subang Jaya, Selangor
96,810 Retail lots Freehold 5 years NA 48,149,334 16.12.2013*

Posted by Victor Yong > 2019-10-11 17:41 | Report Abuse

Analysis of
Shareholdings
As at 28 September 2018

Distribution of Shareholdings
Size of Shareholding No. of Holders % of Holders No. of Holdings % of Issued
Share Capital
Less than 100 62 6.38 1,607 0.00
100 to 1,000 421 43.31 112,987 0.01
1,001 to 10,000 313 32.20 1,893,059 0.13
10,001 to 100,000 138 14.20 3,928,391 0.27
100,001 to less than 5% of issued shares 33 3.40 266,737,222 18.30
5% and above of issued shares 5 0.51 1,184,322,205 81.29
Total 972 100.00 1,456,995,471 100.00

Posted by Victor Yong > 2019-10-11 17:43 | Report Abuse

:)

Teh Heng Chong is new MCT CEO
Chong Jin Hun
/
The Edge Financial Daily

February 15, 2019 11:21 am +08

This article first appeared in The Edge Financial Daily, on February 15, 2019.


-A+A
KUALA LUPUR: Property developer MCT Bhd announced yesterday that Teh Heng Chong will be its new chief executive officer (CEO) and executive director, effective March 4.

The announcement came after the group announced a slew of boardroom changes on Jan 23, including the resignation of its then CEO, Jose Juan Z Jugo, and chief financial officer Maria Rochelle S Diaz, which took immediate effect.

In November last year, MCT was thrust into the limelight when riots broke out at the Seafield Sri Maha Mariamman Temple in Subang Jaya, over the temple’s relocation from its current site at USJ 25. The land on which the temple is situated belongs to MCT’s wholly-owned subsidiary, One City Development Sdn Bhd.

MCT is 66.25%-controlled by Ayala Land Inc, the property arm of Ayala Corporation of the Philippines.

Posted by Victor Yong > 2019-10-11 17:50 | Report Abuse

:) come to end son :)

litigation
(a) There was a suit filed on 4 December 1996 by Chellappa A/L Kalimuthu (suing as a public
officer of Sri Maha Mariamman Temple, Hicom, Shah Alam, Selangor pursuant to Section 9(c)
of the Society Act 1996) on behalf of a society (“Society”) (“Plaintiff”).
A writ of possession (“Writ”) vide “Permohonan Perlaksanaan No. 37WP-44-12/2015” was
issued by the High Court on 22 December 2015 and subsequently served by the Court Bailiff
to the Indian Temple, Kuil Sri Maha Mariamman (“Existing Temple”) on 30 May 2016. On 10
June 2016, One City Development Sdn Bhd ("OCD")’s solicitors applied to court to extend the
Writ. The Court has granted its Order on 22 December 2016. The Writ and the Order for
extension of time has been served by the Court Bailiff to the Existing Temple on 18 May 2017.
The parties occupying the Existing Temple have failed to deliver the vacant possession of the
Land to OCD. The Writ expired on 21 June 2017. OCD’s solicitors had applied for a fresh Writ
on 12 October 2017 and judgement has been obtained on 14 November 2017.
The sealed order of the same was extracted on 13 December 2017. The validity of the Writ is
for one year from 5 December 2017 until 4 December 2018.
On 28 September 2018, the court bailiff on instructions of OCD presented a notice to illegal
occupiers of the Land to vacate the premise by 15 October 2018.
On 25 October 2018, the exercise for possession of Land and subsequent relocation of the
temple was carried out. However, due to the advice of the Selangor State Government and
an appeal by Federal and Local politicians, OCD agreed to defer the said exercise until after
Deepavali.
On a separate note, a fresh suit was filed by new plaintiffs claiming to be temple devotees
against the legitimate council, OCD, the Selangor State Government and the Registrar of
Societies. The cause of action was premised primarily on the same causes previously claimed
by the Plaintiffs.
The new plaintiffs have also filed an intervener action and also a stay of execution of the order
of possession on 12 October 2018 but were both dismissed with costs. They had also
appealed on the said decision by the High Court Registrar but the appeal was dismissed on
13 December 2018. Therefore, this case is deemed to be concluded.
Two fresh suits were filed by alleged devotees against the all parties to the consent judgement.
On 13 February 2019, the High Court had dismissed the alleged devotees claims in one of
the suits for an interlocutory injunction and were also ordered to pay damages to OCD. In
relation to the other suit, the Court had also struck out the Plaintiff’s claim against OCD on 10
April 2019. Therefore, this case is also deemed to be concluded.
On 28 May 2019, OCD had informed the court that OCD would like to withdraw the application
for direction of assessment of damages with liberty to file afresh and the Court has allowed
OCD’s application thereof.
Another originating summons was filed by Chellappa A/L Kalimuthu seeking a declaration,
amongst others, that the affairs of the temple are subject to a constructive trust for religious
purposes as well as seeking directions for the administration and management of the temple
and the vesting of immovable property(ies) (if any) of the temple, or to be donated to the
temple, or to be acquired for the benefit of the temple to the Court appointed Trustees, and
the intervention of the Attorney General of Malaysia in respect of matters concerning the
affairs of the temple.
OCD responded by filing an affidavit in reply on 30 May 2019 and a supplemental affidavit on
12 July 2019.
On 8 August 2019, the plaintiff’s solicitors informed the Court that they do not intend to file any
further affidavit in reply to OCD’s affidavits. The Court then directed the plaintiff to file core
bundles and written submissions first, and fixed the next case management date on 10
September 2019 pending filing of submissions. OCD are at liberty to also file submission by
10 September 2019.

Posted by Victor Yong > 2019-10-11 17:52 | Report Abuse

Performance Review
For the quarter
The Group recorded revenue of RM107 million for the current period ended 30 June 2019, a 5%
improvement from the previous quarter. This is backed by the pick-up in the construction progress
from the festive season. The Group expects construction progress to pick-up moving ahead as the
Group expects to handover three projects by early 2020.
Expenses recorded was RM35 million during the quarter, up from RM22 million from the previous
quarter. This is mainly attributed by the increase in sales and marketing expenses of RM3 million
which is in line with the increased in sales. In addition, unrealised loss on foreign exchange and
maintenance expenses for the investment properties held at SkyPark @ Cyberjaya also contributed
to the said increase.
For the current period to date
The Group recorded revenue of RM210 million for the 6 months period ended 30 June 2019. Savings
realised from SkyPark @ Cyberjaya coupled with the improvement of construction progress has
contributed to the revenue and profit recognition for the period. Property development segment
contributed to 95% of the total revenue of the Group.
Gross profit margin remained healthy at 30% as the contribution from low margin products such as
PR1MA Homes were the main revenue drivers.
The lower effective tax rate of 21% as compared to the statutory tax rate of 24% is mainly due to the
utilisation of business losses arising from certain subsidiaries.
Profit after tax was RM8 million at 4% net profit margin following the increase in expenses incurred
which coincided with the slow construction progress for the same period.

Posted by Victor Yong > 2019-10-11 17:54 | Report Abuse

As at 31 July 2019, the public shareholding spread of the Company was 24.59%. As such, the Company currently does not comply with the Required Public Spread.



To rectify the non-compliance with the Required Public Spread, the Company intends to continue pursuing the following action plans:



1. Engaging with investment banks to identify potential public placees to increase public spread via a private placement;



2. To conduct analyst and media briefings to increase awareness and interests in the Company;



3. To update research houses with the Company’s current performance and future plans to expand research coverage on the Company; and



4. Engage with the Company’s major shareholders on the possibility of selling down its shareholding to public shareholders.



The Company will continue to monitor the level of public shareholdings and make the necessary announcement in relation to the status of compliance with the Required Public Spread in accordance with the Listing Requirements.



This announcement is dated 9 August 2019.

Posted by Victor Yong > 2019-10-11 17:58 | Report Abuse

Ayala Corporation
From Wikipedia, the free encyclopedia

For its real estate subsidiary, see Ayala Land.
Ayala Corporation

Type
Public
Traded as PSE: AC
Founded Manila, Captaincy General of the Philippines
1834; 185 years ago
Founders Domingo Róxas
Antonio de Ayala
Headquarters Makati, Philippines
Area served
Philippines
Key people
Jaime Augusto Zóbel de Ayala (Chairman and CEO)
Fernando Zóbel de Ayala (President and COO)
Revenue Increase ₱237 billion (FY 2016)[1]
Net income
Increase ₱43.4 billion (FY 2016)[1]
Total assets Increase ₱911.7 billion (FY 2016)
Total equity Increase ₱370.9 billion (FY 2016)
Website ayala.com.ph
Ayala Corporation (Spanish: Corporación Ayala, formerly Ayala y Compañía) is the publicly listed holding company for the diversified interests of the Ayala Group. Founded in the Philippines by Domingo Róxas and Antonio de Ayala during the Spanish colonial rule, it is the country's oldest and largest conglomerate. The company has a portfolio of diverse business interests, including investments in retail, education, real estate, banking, telecommunications, water infrastructure, renewable energy, electronics, information technology, automotive, healthcare, and management and business process outsourcing. As of November 2015, it is the country's largest corporation in terms of assets ($48.7B). History
The company began in 1834 with the formation of a distillery owned by Casa Róxas, a partnership between Domingo Róxas and Antonio de Ayala.[2] The distillery was the maker of Ginebra San Miguel and was later acquired by La Tondeña, Inc. in 1929.

In the late 19th century, Ayala participated in the construction of the Puente de Ayala (Ayala Bridge) over the Pasig River in Manila. Built of wood in 1872, the bridge was reconstructed in steel in 1908 and became the first steel bridge in the Philippines. In 1888, Ayala introduced the first tramcar service in the Philippines. Ayala was responsible for the development of Makati as the financial district of Manila and the Philippines after World War II.

In April 2010, FinanceAsia named Ayala Corporation as the best-managed company in the Philippines, as well as best for corporate governance and best for corporate social responsibility.[3]

In 2011, Ayala began building its renewable energy portfolio, beginning with a joint venture with Mitsubishi for solar power, the purchase of the iconic Northwind farm for wind power, and its joint venture with Sta. Clara Power for run-of-the-river hydro power. Ayala will contribute 1000 MW to the Philippine power supply, by 2015.[4] In 2015, FinanceAsia awarded Ayala Corporation as the Best Managed Company in the Philippines in the 15th annual survey of top public companies in Asia. Retirement of the Ayala chairman
In January 2006, the board of directors publicly announced the decision by Jaime Zóbel de Ayala to retire as chairman of the corporation by April 2006. The board also announced his appointment as chairman emeritus upon his retirement. His eldest son, Jaime Augusto Zóbel de Ayala, succeeded him as chairman and chief executive officer, while his younger son, Fernando Zóbel de Ayala, has assumed the position of president and chief operating officer. The Zóbel de Ayala family's holding company, Mermac, Inc., continues to hold the controlling stake (49%) in Ayala Corporation.[58]

Oldest business house in Philippines
In 2014, Ayala celebrated its 180th anniversary. The company is credited for having contributed to the socio-economic development of the Philippines.[59]

Posted by Victor Yong > 2019-10-11 18:00 | Report Abuse

Financial services
Bank of the Philippine Islands
BPI Family Bank
Telecommunications
Globe Telecom, Inc.
Utilities
Manila Water Company Inc.
Power and transport
Ayala Corporation Energy Holdings, Ltd. - is the power unit of Ayala Corporation, with investments in the development of conventional as well as solar, wind, and mini-hydro energy sources.[11][12][13][14][15]
AC Infra - pursues toll road, rail and airport projects under government’s public-private partnership program. One of its latest projects include MCX (Muntinlupa–Cavite Expressway).
Light Rail Manila Corporation - a consortium between the Ayala Corporation and Metro Pacific Investments Corporation for the Line 1 Common Station, Concession, and Bacoor Extension.[16]
AF Payments, Inc. - another consortium between the Ayala Corporation and Metro Pacific Investments Corporation regarding the unified Automated Fare Collection System (Beep card) for Line 1-3, and eventually also for the PNR and other public transport.[17]
North Avenue Grand Central station - the Unified Grand Central Station, is an interchange station that's currently in development by its stakeholders Metro Pacific Corporation, SMC-MRT7 of San Miguel Corporation, SM Prime Holdings, and Ayala Corporation.
Manufacturing and automotive
AC Industrial Technology Holding, Inc. (AC Industrials)[18][19]
Integrated Micro-Electronics, Inc. (IMI)[20][21]
Honda Cars Makati, Inc.[22][23][24] and Honda Cars Cebu, Inc.[25] - Established in October 1990, Ayala Automotive Holdings began with a 12.9% stake in the P1.1B investment for the local operations and production plant of Honda Cars Philippines.
Isuzu Automotive Dealership, Inc.[26][27][28]
Isuzu Philippines Corporation (IPC) (owns 15%)
Volkswagen Philippines [29]
Maxus PHilippines, Inc [30]
Kia Philippines, Inc
Adventure Cycle Philippines, Inc. (KTM Philippines)
ACI Solar Holdings North America
Merlin Solar Technologies Inc.[31]
AC Industrials Singapore
Misslbeck Technologies GmbH [32]

Posted by Victor Yong > 2019-10-11 18:00 | Report Abuse

:)

Social infrastructure
Ayala Healthcare Holdings, Inc.[33]
FamilyDOC Clinic[34]
Generika - Drugstore chain, with 50% stake
QualiMed - Hospitals and clinics, a joint-venture with Mercado General Hospital Inc.(MGHI) and Ayala Land, Inc.[35]
Ayala Education, Inc. (AEI)
University of Nueva Caceres - Ayala Education’s flagship University [36]
Affordable Private Education Center, Inc. (APEC Schools) - a joint venture between the Ayala Corporation and Pearson PLC's Affordable Learning Fund (Pearson ALF). It promotes affordable but high-quality education.[37][38]
Professional Employment Program (PEP) [39]
National Teacher's College (33%)
Nonprofit organizations
Ayala Foundation[40]
CENTEX[41]
Ayala Museum[42]
Philippine Development Foundation[43]
Ayala Technology Business Incubator[44]
Filipinas Heritage Library[45]
Ayala Social Initiatives[46]
Business process outsourcing, Logistics and Digital businesses
LiveIt Investments, Ltd.[47]
Affinity Express[48][49]
HRMall[50][51]
Zalora Philippines
MedGrocer [52]
Entrego [53]
Divestment
Grail Research
IQ BackOffice, Inc.
The Insular Life Assurance Co., Ltd. - Mutual company owned by policyholders since 1987.
Integreon[54][55]
Philippine FamilyMart CVS, Inc. - Joint venture with Stores Specialists, Inc., Japan FamilyMart, and Itochu Corporation.[56] Acquired by Phoenix Petroleum Philippines, Inc. in 2018.
Pure Foods Corporation - sold to San Miguel Corporation in 2001.
San Miguel Corporation - Divested in 1983.
Stream Global - sold to Convergys for $820 million.[57]

Posted by Victor Yong > 2019-10-11 18:01 | Report Abuse

Real estate
Alveo Land
Ayala Land Inc.
AyalaLand Logistics Holdings Corp. (ALLHC)
AG Holdings, Ltd.[5][6]
Avida Land
Amaia Land
Bellavita
Portico Land Corp. - joint venture with Mitsubishi Corporation [7]
Roxas Land Corp. - joint venture with Bank of the Philippine Islands and Hongkong Land
Regent Wise Investments Limited
MCT Consortium Berhad (based in Malaysia)
Ortigas & Company Limited Partnership - Since November 2014, Ayala and SM Prime Holdings ended their dispute over the ownership of OCLP Holdings, the parent of Ortigas & Company. Ayala has recently sealed a deal with a group led by Ignacio Ortigas for the development of the Ortigas family's land bank area.[8]
Trident Infrastructure and Development Corporation (TIDC) - Formerly known as "Team Trident" and "the super consortium", is a joint-venture between Aboitiz Equity Ventures, Inc. (AEV), Ayala Land Inc. (ALI), Megaworld Corporation (MEG) and SM Prime Holdings, Inc. (SMPH). It is aimed to develop the Laguna Lakeshore Expressway and Dike Project (LLEDP).[9]
Ayala-GT Capital - In May 2015, through Ayala's Alveo Land and GT Capital's Federal Land, the two corporations will develop a 45-hectare property in Biñan, Laguna, aimed towards mid-range and high-end markets.[10]

Posted by Victor Yong > 2019-10-11 23:14 | Report Abuse

MCT can Market the condominium/apartment starting from rm600k to the rich Filipino also :)

KUALA LUMPUR (Oct 11): Several property-related measures were announced during the tabling of Budget 2020 by Finance Minister Lim Guan Eng, including adjustments to the real property gains tax (RPGT) and the lowering of the threshold for foreign buyers of high rise properties, as well as the introduction of a Rent-to-Own (RTO) scheme for first-time buyers.

Here’s what property developers think of the Budget measures:

Mah Sing Bhd founder and group managing director Tan Sri Leong Hoy Kum

Lower foreign ownership threshold for high rise properties in urban areas

Lowering the threshold of high-rise property prices in urban areas from RM1 million to RM600,000 in 2020 will have a positive impact as foreign buyers are a blue-ocean pool of potential buyers who can reduce the overhang of properties in this price point. It is crucial that respective State Governments will respond to this positively and revise their ceiling price accordingly.

Shift of the real property gain tax (RPGT) base year to 2013 from 2000

Revising the base year will allow sellers to pay lower RPGT. We hope continuous improvements to the RPGT policy can be considered to boost more interest and activities in the secondary property market, as many buyers are looking to upgrade after disposing of their older units.

RTO scheme for first-time homebuyers

The announcement of the new Rent-To-Own (RTO) scheme is favourable towards first-time home buyers who are facing difficulties in coming up with the initial 10% down payment and securing end-financing as it serves as an alternative option for home-ownership.

As end-financing has continued to be amongst the major challenges for home buyers, we believe the RTO scheme would help to stimulate the market as first-time home buyers are now given aid and flexibility to own their preferred home at the agreed purchase price during the leasing tenure once their financial position strengthens.

Extension of BSN’s Youth Housing Scheme

We appreciate the Government’s initiatives to help youths and young married couples to own their first home by extending the BSN Youth Housing Scheme from Jan 1 2020 to Dec 31 2021. The scheme is offered for financing the purchase of either completed, under construction or sub-sales properties priced from RM100,000 to RM500,000.

Obtaining mortgage has been the number one challenge of owning a home, hence offering a 10% loan guarantee to enable borrowers full financing and RM200 per month instalment assistance that will be credited to customer’s financing account for a period of two years will greatly help more youths and young married couples in owning their first home.

SP Setia Bhd president and CEO Datuk Khor Chap Jen

On the RTO scheme for first time homebuyers

We applaud the Government’s initiatives in Budget 2020 to raise the ceiling price of homes made available under the Rent-to-own Scheme, from RM300,000 to RM500,000 as this will give first-time home-buyers more options to choose from.

The increase in the allocation for the scheme, from RM1 billion to RM10 billion, including a guarantee of RM3 billion by the Government shows that the Government sees home ownership as a very critical issue for the rakyat.

However, it is noted that under the current scheme, only RM156.2 million worth of loans was approved. We hope the lending guidelines and criteria will be reviewed, especially for first-time home-buyers, for them to benefit from the scheme.

Lower foreign ownership threshold for high rise properties in urban areas

The reduction of the foreign ownership threshold value for unsold stocks of condominiums and apartments located in city areas from RM1 million to RM600,000 will help to reduce the overhang for these type of properties as developers can market these range of products to foreign buyers. We hope that the State authorities will follow suit on this.

Improvement on amenities for low and medium-cost stratified housing

The Government’s focus on improving the amenities and security for low and medium-cost stratified housing is very much lauded, as it will help to improve the overall standard of living for the residents currently residing in such developments.

Titijaya Land Bhd deputy group managing director Lim Poh Yit

Lower foreign ownership threshold for high rise properties in urban areas

We opine that the Government’s initiative to reduce the threshold value for property purchases in the city (for condominiums and apartments) for foreign purchases from RM1 million to RM600,000 will definitely help to increase the sales of unsold high-rise units.

RTO scheme for first-time homebuyers

This will help to reduce the burden for young working adults and families who face rising living costs and enable them to finally own a home.

Waive of stamp duty for transfer of ownership

Waiving the stamp duty for ownership transfer between developer and bank as well as between b

Posted by Good123 > 2019-10-12 09:12 | Report Abuse

property stocks will rise next week with the new budget announcement, rm600k and above, foreigners can buy :)

Posted by freddiehero > 2019-10-12 09:17 | Report Abuse

haha.. next time rakyat sleep tepi jalan ka if foreigner keep goreng?

Posted by Good123 > 2019-10-12 09:39 | Report Abuse

ada conditions probably, maybe macam berikut :)

PETALING JAYA (Oct 11): The new minimum price threshold for the foreign purchase of high-rise residential property should be location-based and limited to completed units that remain unsold for at least a year, suggested Perbadanan PR1MA Malaysia chairman Tan Sri Eddy Chen.
“The revision is a good move, the only thing is that it has to be location-based. Because in some states such as Kelantan, Terengganu and Perak, a lot of the properties are below RM600,000, which means there are not many choices for foreign buyers to acquire,” said Chen, who is also the managing director of MKH Bhd. — EdgeProp.my

Posted by Good123 > 2019-10-12 09:49 | Report Abuse

Agreed, further clarification will be forthcoming soon.

KUALA LUMPUR (Oct 11): Lowering of the threshold for foreign ownership in property from RM1 million to RM600,000 may be appropriate in the short term, but specific guidelines are important in ensuring long-term sustainability and viability, said PwC Malaysia tax leader Jagdev Singh.

“Questions abound as to whether the relaxation of foreign owners should be limited to the secondary market or extended to the primary market (and) if there is a need for a minimum holding period as well as a limit in whom they can sell to,” he said in a statement on the 2020 Budget.

Finance Minister Lim Guan Eng earlier today announced that the Government would lower the threshold on high-rise property prices in urban areas for foreign ownership from RM1 million to RM600,000 next year.

Jagdev said PwC Malaysia also welcomed the proposed revision of the real property gains tax (RPGT) imposed on disposal of properties after five years onwards for assets acquired before Jan 1, 2013.

"However, this is less straightforward compared to exempting all sales for properties held beyond 10 years," he said.

Posted by Good123 > 2019-10-12 11:07 | Report Abuse

yes, impossible to be too detail during budget, otherwise, take few days to end :)

Posted by freddiehero > 2019-10-12 11:35 | Report Abuse

2020 is tat good year?

Posted by Good123 > 2019-10-12 15:55 | Report Abuse

nobody knows the future, observe as the time comes :)

Posted by actura > 2019-10-13 15:27 | Report Abuse

Hope looking forward for private ......

Posted by Good123 > 2019-10-13 16:31 | Report Abuse

Ayala is cash rish group, anything is possible

Posted by Good123 > 2019-10-13 16:31 | Report Abuse

Ayala is a cash rich group, anything is possible

Posted by Good123 > 2019-10-13 19:32 | Report Abuse

:)

ALI:PMPhilippines

Ayala Land Inc

COMPANY INFO

47.95PHP

1.15 2.46%

MARKET CLOSED

AS OF 10/11/2019 EDT

OPEN

46.90

PREV CLOSE

46.80

VOLUME

2,754,900

MARKET CAP

706.541B

DAY RANGE

46.7047.95

52 WEEK RANGE

38.0053.85

Posted by Good123 > 2019-10-13 20:20 | Report Abuse

clear now :)

KUALA LUMPUR (Oct 13): The government says its move to lower the foreign ownership threshold for condominiums and apartments in the city area to RM600,000 from RM1 million is aimed at reducing the oversupply of such units, which stood at RM8.3 billion in the first quarter of this year.

"In view that this budget proposal has been deliberately misinterpreted by certain parties, the Ministry of Finance would like to explain that the lowering of this threshold is only applicable for existing condominium and apartment units that are still unsold and will take effect from Jan 1, 2020 until Dec 31, 2020 only.

"It does not include new projects that are yet to be launched. This measure is expected to benefit the property sector without affecting the interest of Malaysians," Finance Minister Lim Guan Eng said in a statement today.

He went on to say that existing unsold units in the market now are homes that failed to attract local buyers, hence the lowering of this threshold for foreign ownership "will not deprive local buyers".

"Local buyers will not be denied their right because if they want to buy, they can buy now and they (such units) will not remain as unsold units," he added.

Posted by Good123 > 2019-10-13 23:31 | Report Abuse

OPR is also expected to be cut, lower mortgage rates are expected too

Posted by Good123 > 2019-10-13 23:32 | Report Abuse

lower opr soon is expected to boost affordable housing too :)

Posted by Good123 > 2019-10-14 08:32 | Report Abuse

LANGKAWI (Oct 13): Prime Minister Tun Dr Mahathir Mohamad today said the decision to lower the threshold on high rise property prices in urban areas for foreign ownership from RM1 million to RM600,000 was meant to reduce supply overhang of condominiums and apartments.

He stressed that the decision does not mean that foreigners who bought the property would be given Malaysian citizenship.

“If the locals want to buy the property, they can buy it at the same (reduced) price, but we still have supply overhang. We have built so many houses, but they were not sold. When a housing project is not sold, it causes the country to suffer losses.

“We want to get rid of this property overhang...so that we can raise the price back to RM800,000, RM1 million or RM2 million. This is a way to encourage the sale.

“But if foreigners bought the property, we will not give them Malaysian citizenship. They can only use it as their holiday home,” Dr Mahathir, who is also Langkawi Member of Parliament, told a press conference after attending a briefing on Langkawi’s development here.

Posted by Good123 > 2019-10-14 08:49 | Report Abuse

Ayala land should help MCT to market unsold apartments/condos above rm600k to the rich Filipinos back home.

The Philippines is one of the emerging markets and is the sixth richest in Southeast Asia by GDP per capita values, after the regional countries of Singapore, Brunei, Malaysia, Thailand and Indonesia.

Posted by Good123 > 2019-10-14 08:51 | Report Abuse

KUALA LUMPUR: The government will collaborate with financial institutions to introduce a Rent To Own (RTO) financing scheme to assist those unable to afford the initial 10 per cent deposit and access to financing to buy homes.

Under this scheme, financing of up to RM10 billion will be provided by the financial institutions with the support from the government via a 30 per cent or RM3 billion guarantee.

Finance Minister Lim Guan Eng, in tabling the 2020 Budget, said the RTO scheme applies to the purchase of first homes, with a property value of up to RM500,000.

“Under this scheme, the applicant will rent the property for up to five years and after the first year, the tenant will have the option to purchase the house based on the price fixed at the time the tenancy agreement is signed,” he said.

He said the government would provide stamp duty exemptions on the instruments of transfer between the developer and financial institution, and between financial institutions and the buyer in this scheme.

To reduce supply overhang of condominiums and apartments amounting to RM8.3 billion in the second quarter of 2019, he said the government will lower the threshold on high rise property prices in urban areas for foreign ownership, from RM1 million to RM600,000 in 2020.

“To assist the youth in purchasing their first home, the government will extend the Youth Housing Scheme managed by Bank Simpanan Nasional from Jan 1, 2020 until Dec 31, 2021.

“The scheme also offers a 10 percent loan guarantee through Cagamas to enable borrowers of full financing and RM200 monthly installment assistance for the first two years limited to 10,000 home units.”

Posted by Good123 > 2019-10-14 08:57 | Report Abuse

Ayala land can distribute some MCT shares to all Ayala land shareholders to resolve public shareholding spread issue if don't want to meet free new MGO :)

Posted by Good123 > 2019-10-14 08:57 | Report Abuse

if don't want to offer new MGO

Posted by Good123 > 2019-10-14 09:14 | Report Abuse

KUALA LUMPUR (Oct 14): Kenanga IB Research said Budget 2020 turned out to be mostly positive for corporate Malaysia.

In a strategy note today, the research house said with the exception of an increase in minimum wage in major cities, affecting city-based low-skilled labour intensive businesses, most measures announced were business and people friendly.

It said the clear sector winners are Technology, Consumer, and Property. Technology gains because of generous grant incentives for digitalisation of SMEs operations coupled with 10-year tax exemptions for selected E