<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Sept 25): The Securities Commission Malaysia (SC) has registered EdgeProp Sdn Bhd as the first recognised market operator to establish and operate a property crowdfunding platform in Malaysia, following the revision of the SC's Guidelines on Recognised Markets in May 2019.</p></div>

<div class=newsTextDataWrapInner><p>In a statement today, SC said EdgeProp was granted an approval in principle in September 2019.</p></div>

<div class=newsTextDataWrapInner><p>Property crowdfunding is an initiative announced in Budget 2019 to provide an alternative financing avenue for first-time homebuyers through a property crowdfunding scheme.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>SC said property crowdfunding offers the same potential as that of equity crowdfunding and peer-to-peer financing platforms in providing an alternative source of financing but is specifically tailored for first-time homebuyers.</p></div>

<div class=newsTextDataWrapInner><p>At the same time, it will provide investors access to a new investment option.</p></div>

<div class=newsTextDataWrapInner><p>"The SC would like to caution that it is an offence under the securities laws to operate a PCF (property crowdfunding) platform without authorisation from the SC.</p></div>

<div class=newsTextDataWrapInner><p>"Any persons found to be in breach may be liable to a fine not exceeding RM10 million or imprisonment term not exceeding ten years or both," it said.</p></div>


The Securities Commission Malaysia (SC) has registered EdgeProp Sdn Bhd as the first recognised market operator to establish and operate a property crowdfunding platform in Malaysia, following the revision of the SC's Guidelines on Recognised Markets in May 2019.

EdgeProp registered as first property crowdfunding operator

The housing problem that has plagued 245 families involving five estates in Bestari Jaya (formerly Batang Berjuntai) in Hulu Selangor for decades will finally be resolved in the near future.

Housing and Local Government Minister Nga Kor Ming said the government will announce good news next week in relation to the estate workers who had been evicted without a home to live in.

Nga: Govt to announce good news on housing issue involving five estates in Bestari Jaya

Prime Minister Datuk Seri Anwar Ibrahim has never sidelined the Indian community in this country. In fact, he has increased allocations for them, said Deputy Entrepreneur Development and Cooperatives Minister Datuk R Ramanan.

Ramanan said that additional funds, such as RM30 million for the SPUMI Financing Scheme (SPUMI Goes Big) and a special fund of RM50 million from Amanah Ikhtiar Malaysia (AIM) for the Prosperty, Empowerment & New Normal For Indian Women (PENN) programme, set to benefit over 10,000 Indian women entrepreneurs, could not have been realised without the prime minister’s mandate.

PM has never sidelined Indian community, says Ramanan

Minister of Housing and Local Government Nga Kor Ming is ready to cooperate with the Election Commission (EC) in connection with complaints regarding the announcement on the allocation of RM5.21 million to the Hulu Selangor Municipal Council (MPHS).

He said the complaint, lodged by Perikatan Nasional (PN) that the announcement he made ahead of the Kuala Kubu Baharu (KKB) state by-election, should not have been an issue as it wasn't made during the campaign period.

KKB polls: Nga ready to cooperate with EC over allocation announcement

Foreign Minister Datuk Seri Mohamad Hasan will lead the Malaysian delegation as the representative of the Prime Minister Datuk Seri Anwar Ibrahim to the 15th Session of the Islamic Summit Conference in Banjul, The Gambia, scheduled for two days from May 4.

Foreign minister to represent PM at 15th Islamic Summit Conference in Banjul

Communications Minister Fahmi Fadzil said the government is aware of the need to reflect on many factors in balancing efforts to ensure press freedom while also combating defamation and the spread of false information.

Press freedom index: Govt to analyse report, formulate more robust efforts

The Umno Supreme Council which met on Friday has pledged to offer its full commitment to assist and support Pakatan Harapan (PH) candidate Pang Sock Tao who is representing the Unity Government in the Kuala Kubu Baharu by-election.

Umno secretary-general Datuk Dr Asyraf Wajdi Dusuki in a statement said the party will fully mobilise its election machinery from all divisions in Selangor and states led by the party.

Umno to mobilise machinery to assist, support Unity Govt's candidate in KKB by-election

US job growth slowed more than expected in April and the increase in annual wages fell below 4.0% for the first time in nearly three years, but it is probably too early to expect that the Federal Reserve will start cutting interest rates before September as the labor market remains fairly tight.

US job gains fewest in six months; unemployment rate rises to 3.9%

Stern action will be taken against retailers, distributors and importers of products with labels discriminating against palm oil, said Plantation and Commodities Minister Datuk Seri Johari Abdul Ghani.

He said those found guilty could be fined up to RM250,000 under the Trade Descriptions (Prohibition of Use of Statement, Expression or Indication) (Oil Palm Product and Palm Oil Goods) Regulations 2022.

Stern action on traders discriminating against palm oil products — Johari

The Congress of Union of Employees in the Public and Civil Services Malaysia (Cuepacs) has urged all parties not to politicise the issue regarding the welfare of civil servants, including the pay hike announced by Prime Minister Datuk Seri Anwar Ibrahim on Wednesday (May 1).

Its president, Datuk Dr Adnan Mat, said Cuepacs was disappointed when the issue of a pay hike for civil servants was politicised to the extent that it gave rise to the move to frustrate the government's intention by denying support in Parliament.

Don't politicise issue on welfare of civil servants — Cuepacs

Perak Mufti Datuk Seri Wan Zahidi Wan Teh said accusing any party of insulting Islam must be proven before considering a boycott.

He said one of the crucial elements in criminal behaviour is intent or "alqasdul jinaei" (criminal intent).

Allegations of insulting Islam must be proven before boycott — Perak Mufti

<p>KUALA LUMPUR (May 3): Digital Nasional Bhd (DNB) will hold a meeting next week to review due diligence findings on the 5G network rollout, Digital Minister Gobind Singh Deo said on Friday.</p>


Digital Nasional to meet next week to discuss due diligence on 5G network — minister

<p>Naza Corp Holdings Sdn Bhd has completed the acquisition of a 100% stake in Berjaya Enviro Holdings Sdn Bhd (BEnviro) from Berjaya Corp Bhd for RM700 million in cash, marking its entry into the green economy with a focus on municipal and scheduled waste, as well as the waste-to-energy sector.</p>


Naza completes acquisition of waste management company from Berjaya for RM700m cash 

<p>Malaysia’s commitment to building its 5G network has given the country a world-class digital infrastructure, according to Telefonaktiebolaget LM Ericsson president and chief executive officer Börje Ekholm.</p>


Ericsson CEO hails Malaysia’s ‘world-class’ digital infrastructure

<p>Ranhill Utilities Bhd has declared a share dividend distribution on a basis of 0.5 share for every 100 shares held in the utility group.</p>


Ranhill declares share dividend distribution

<p>KUALA LUMPUR (May 3): Fraser &amp; Neave Holding Bhd (F&amp;N) said on Friday that the company will focus on fixed asset optimisation over the next three years, after having allocated more than RM3 billion in capital expenditure (capex) and development of its integrated farm in Gemas.</p>


F&N to focus on sweating off its assets after investing RM3b in capex and development

<p>KUALA LUMPUR (May 3): There will be no water supply cut for multiple areas in Selangor, as the&nbsp;Sungai Selangor Water Treatment Plant (WTP) Phase 1 (SSP1) maintenance works originally slated to be carried out from May 14 to 16 have been postponed.</p>


Air Selangor: Phase 1 of river water treatment plant’s maintenance works postponed, no supply cut

<p>The country faces higher imports of gas energy for electricity use in the coming years if it continues to depend on the commodity without efforts to accelerate the transition to more sustainable energy.</p>


Rafizi warns of hike in gas imports for electricity without switch to sustainable energy

<p>KUALA LUMPUR (May 3): Engineering firm UUE Holdings Bhd said on Friday that it has signed an agreement with M&amp;A Securities to underwrite its initial public offering (IPO) on the ACE Market.</p>


UUE signs underwriting deal with M&A Securities for ACE Market IPO

<p>Individuals who have fallen victim to fraudulent investment schemes risk losing the right to recover their money even after going through the legal avenue.</p>


Bukit Aman: Victims of investment scams won’t be able to recoup losses

<p>The US Treasury Department's top sanctions official will travel to Singapore and Malaysia next week, a source familiar with the matter told <i>Reuters</i>, as Washington seeks to combat funding for Iran and its proxy groups as well as evasion of its sanctions on Russia.</p>


Top US Treasury official to travel to Singapore, Malaysia to discuss sanctions

<p>In a majority decision, the Federal Court has dismissed a woman's final challenge to change her religious status as a Muslim.</p>


Top court dismisses woman's attempt to change religious status

<p>Malayan Cement Bhd will likely report strong third quarter earnings when the company reports its results by this month-end, as volume and average selling prices stay high, CGS International said.</p>


Malayan Cement likely to report strong 3Q results, says CGS International

<p>KUALA LUMPUR (May 3): Fresh vegetables wholesaler and distributor Farm Price Holdings Bhd, which is set for listing on the ACE Market of Bursa Malaysia on May 14, said on Friday that its initial public offering (IPO) had been oversubscribed by 91.35 times.</p>


ACE Market-bound Farm Price’s IPO oversubscribed by 91.35 times

<p>KUALA LUMPUR (May 3): KL Wellness City Sdn Bhd, through KL International Hospital Sdn Bhd, has launched KL International Tertiary Hospital as part of the first phase of the KL Wellness City township in Bukit Jalil here on Thursday (May 2).</p>


KL Wellness City launches tertiary hospital as part of the township’s first phase

<p>Hong Kong stocks are on their longest-winning streak since 2018, adding to signs that a recovery in one of the worst-performing markets last year is well underway.</p>


Hong Kong stocks are on their longest winning streak since 2018

<p>Ocean Fresh Bhd has signed an agreement with KAF Investment Bank (KAF IB) to underwrite the frozen seafood company’s initial public offering (IPO) on the ACE Market.</p>


Ocean Fresh inks underwriting agreement with KAF IB for ACE Market IPO

<p>Ranhill Utilities Bhd will cooperate with the Malaysian Anti-Corruption Commission (MACC) throughout an investigation involving its employees, it said on Friday.</p>

<p>“We are alarmed and take serious note of the matter. We shall cooperate fully with MACC in its investigation if required,” Ranhill said in a bourse filing.</p>


Ranhill to cooperate with MACC over bribery probe on employees

<p>The Penang High Court on Friday dismissed former Penang chief minister Lim Guan Eng, his wife Betty Chew Gek Cheng, and businesswoman Phang Li Koon’s attempt to strike out their graft and money-laundering charges.</p>


Double jeopardy does not apply, Penang court rules in dismissing Guan Eng, wife and Phang's challenge on graft charge

<p>GEORGE TOWN (May 3): China Southern Airlines plans to double its weekly flights from Guangzhou, China to Penang, increasing from seven to 14, starting June 20.</p>


China Southern Airlines to double weekly flights to Penang starting June 20

<p>KUALA LUMPUR (May 3): Muar Member of Parliament (MP) Syed Saddiq Syed Abdul Rahman is seeking a judicial review against Prime Minister Datuk Seri Anwar Ibrahim and the government over RM730,300 in allocations for his constituency.</p>
