PropertyGuru Malaysia’s recent Consumer Sentiment Survey revealed that confidence towards the Malaysian property sector remains stable with 36 percent of respondents expressing overall satisfaction with market conditions in the first half of 2017 (H1 2017). Another 24 percent expressed neutral views with negative perceptions declining to 39 percent from a high of 53 percent in Q1 2015.
In response to recent media reports to relax the criteria for affordable home financing, the Association of Islamic Banking Institutions Malaysia (AIBIM) reaffirms that the Islamic banking institutions will continue to provide home financing facilities to eligible customers through the various financing schemes offered by its members.
“Islamic banking institutions have been providing financing to ensure customers have continuous access to home financing. As at May 2017, a total of RM14.25 billion has been approved by the Islamic banks for the purchase of residential properties. This represented 37.3% of the total Islamic financing amounted to RM38.2 billion”, said AIBIM’s President Datuk Mohd Redza Shah Abdul Wahid, who reaffirmed the commitment of its members in providing home financing to eligible customers.
Halal Industry Development Corporation (HDC), an agency under Malaysia’s Ministry of International Trade and Industry (MITI) signed a Memorandum of Understanding (MoU) with Weifang Sime Darby Port Co., Ltd., China (WSD) on 21 July 2017 with the aim to develop Halal compliant infrastructure at Weifang Sime Darby Port and an industrial park in accordance with Malaysia’s Halal standards.
WSD is a 99%-owned subsidiary of Malaysia’s Sime Darby Berhad, a multinational conglomerate with businesses in the plantation, property, industrial equipment, motors and logistics sectors. HDC will be working with both WSD in China and Sime Darby Berhad in Malaysia to further strengthen Malaysia’s leadership in the Halal industry, particularly in Halal logistics services.