The Edge suspended over possible false reporting, not to tone down 1MDB probe
The Edge publications’ 3-month suspension, starting from July 27, is not a move to tone down the current investigations into 1MDB, but because there was a real possibility that the contents of the paper’s reporting were not authentic. The impact on the government and economic stability cannot be understated if the reports turn out to be false. On Friday, three reasons were cited for the suspension: headings and reporting that raised questions and created negative public perceptions; news reports based on unverified information; and claims of an investigation team that was set up. Barisan Nasional strategic communications director Datuk Abdul Rahman Dahlan said that the investigations were in fact gathering steam and getting busier each day. (Astro Awani)

Mah Sing aims for RM300m sales from Penang properties
Mah Sing Group Bhd is targeting RM300 million in sales this year from its Penang property developments, saying that the take-up rate of its projects was encouraging and that it was confident of achieving the number. Its projects in Penang include the Ferringhi Residence condo villas, integrated development of Southbay City and three-storey resort bungalows in Lagenda@Southbay. The group believes that its Penang projects will be able to contribute about 11% to total sales. (The Star Online)

TAHPS plans RM10bil Bukit Puchong township
TAHPS Group Bhd, a plantation-based property development company, plans to develop a 700-acre township with an estimated gross development value (GDV) of RM10 billion in Bukit Puchong, Selangor. The master plan of the township is currently in development and will be unveiled by year-end. The company also plans to launch 3 other projects including shop lots, condominiums and SoHo units with a collective GDV of RM600 million. (The Edge Property)

Sarawak residential property sector stable
Sarawak’s residential property sector remained stable, with property prices continuing a slow but steady upward trend, stated Williams Talhar and Wong’s (WTW) 2015 Property Report. Take-up rates of new housing seemed to slow in 2014 but market transaction activities were generally stable. For 2015, it expected a similar scenario with slowdown in sales volume due to GST, but prices are still expected to go up, albeit slowly. Affordable houses are generally below RM400,000 and located in secondary areas or are non-suitable types, while semi-detached houses have breached RM1.5 million due to increase in land and construction costs. (The Borneo Post)

Matrix Concepts launching 3,000 affordable units in 2016
Matrix Concepts Holdings Bhd announced that it would launch 3,000 units of affordable housing in FY2016. The company has taken a proactive approach to tackle current market conditions, including launching higher-end products to match market demand. Its residential units are comparatively cheaper than those in the Klang Valley as most are based in Seremban, with 70% priced RM500,000 or below. The property developer saw its net profit and revenue double in a year, likely attributed to its Bandar Sri Sendayan flagship development. (The Edge Property)

Iskandar Malaysia moves into Phase 3
The property sector in Iskandar Malaysia may be experiencing a slowdown, but overall the region’s development and various sectors have been picking up momentum over the past 8 years. The region has been attracting investors since its inception, and with consistent growth seen in its tourism, education and healthcare sectors, the second phase of the development is complete and ready to move into the third phase, which sees more sectors such as the creative, logistics, and oil and oleochemicals coming in. The economic region aims to offer investors opportunity to venture into new territory and as an alternative to the business community. (The Malaysian Insider)

Singapore private home prices fall for 7th quarter
Prices of private homes in Singapore dropped for the seventh consecutive quarter, making it the longest declining streak in over a decade. Analysts expect the market to continue to soften this year, due to property cooling measures including higher stamp duties and stricter mortgage conditions, resulting in lower sales volumes. Private home prices fell 4% in 2014, and is expected to fall 2.5 – 5% in 2015. (New Straits Times Online)