<div class=newsTextDataWrapInner><p><span style="font-style: italics;">This article first appeared in The Edge Financial Daily on September 26, 2019</span></p></div><div class=newsTextDataWrapInner><p>KUALA LUMPUR: 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.</p></div>

<div class=newsTextDataWrapInner><p>In a statement yesterday, SC said EdgeProp was granted an approval in principle this month.</p></div><div class=inPageAd id=div-gpt-ad-inpage></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=newsTextDataWrapInner><p>The 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>


KUALA LUMPUR: 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.

In a statement...

EdgeProp registered as first property crowdfunding operator

The suspect killed in the attack at the Ulu Tiram police station, here on Friday, was believed to have acted alone, said Home Minister Datuk Seri Saifuddin Nasution Ismail.

Suspect in Ulu Tiram police station attack acted alone, says Saifuddin Nasution

Crypto lender Genesis Global received court approval on Friday to return about US$3 billion (RM14.06 billion) in cash and cryptocurrency to its customers in a bankruptcy liquidation, leaving its owner, Digital Currency Group, with no recovery from the bankruptcy.

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Seven individuals, including a Singaporean, were remanded for seven days from Saturday until May 24, to assist in the investigation into the attack on the Ulu Tiram police station, early on Friday morning.

Ulu Tiram police station attack: Singaporean among seven remanded

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Home Minister Datuk Seri Saifuddin Nasution Ismail has given his assurance that the Jemaah Islamiyah (JI) movement in the country is still under control.

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Genting Singapore has confirmed its interest in developing an integrated resort (IR) development in the United Arab Emirates (UAE), as per its executive chairman Tan Sri Lim Kok Thay’s comments to shareholder queries at the gaming group’s annual general meeting (AGM) last Friday.

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Spot silver surpassed US$30 an ounce to hit the highest level in more than a decade.

The precious metal closed 6.5% higher at US$31.49 an ounce Friday, the highest since February 2013. It has soared 32% this year, outpacing gold and making it one of the year’s best-performing major commodities.

Spot silver tops US$30 an ounce to hit highest since 2013

The seven individuals who were arrested on Friday over an attack at the Ulu Tiram police station here will be brought to the Magistrate's Court here on Saturday to obtain a remand order.

Ulu Tiram police station attack: Seven individuals to be taken to court for remand

As the local stock market edged higher, investors will be closely monitoring the financial performance of listed firms to justify the ongoing rally with the FBM KLCI reaching a multi-year high of 1,619.45 points last Friday in intra-day trade. The better-than-expected Malaysian economic growth of 4.2% in 1Q2024, which was released last Friday, is expected to help sustain the positive market sentiment.

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A rebound that has taken the US stock market to record highs this week may have further to run, if history is any guide.

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<p>Genting Singapore has confirmed its interest in developing an integrated resort (IR) development in the United Arab Emirates (UAE), as per its executive chairman Tan Sri Lim Kok Thay’s comments to shareholder queries at the gaming group’s annual general meeting (AGM) last Friday.</p>


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<p>The suspect killed in the attack at the Ulu Tiram police station, here on Friday, was believed to have acted alone, said Home Minister Datuk Seri Saifuddin Nasution Ismail.</p>


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<p>As the local stock market edged higher, investors will be closely monitoring the financial performance of listed firms to justify the ongoing rally with the <b>FBM KLCI</b> reaching a multi-year high of 1,619.45 points last Friday in intra-day trade. The better-than-expected Malaysian economic growth of 4.2% in 1Q2024, which was released last Friday, is expected to help sustain the positive market sentiment.</p>


<p>The seven individuals who were arrested on Friday over an attack at the Ulu Tiram police station here will be brought to the Magistrate's Court here on Saturday to obtain a remand order.</p>


<p>The Dow Jones industrial average closed above the 40,000 mark for the first time on Friday, with other major indexes also scoring weekly gains, as data supported expectations for interest rate cuts by the Federal Reserve (Fed) this year.</p>


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<p>Seven individuals, including a Singaporean, were remanded for seven days from Saturday until May 24, to assist in the investigation into the attack on the Ulu Tiram police station, early on Friday morning.</p>


<p>The US Justice Department and TikTok on Friday asked a US appeals court to set a fast-track schedule to consider the legal challenges to a new law requiring Chinese-based ByteDance to divest TikTok's US assets by Jan 19 or face a ban.</p>


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<p>Home Minister Datuk Seri Saifuddin Nasution Ismail has given his assurance that the Jemaah Islamiyah (JI) movement in the country is still under control.</p>


<p>Mercedes-Benz Group AG employees in Alabama voted against joining the United Auto Workers, a major blow to the union’s recently reinvigorated efforts to grow its ranks.</p>


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<p>The US awarded contracts for the purchase of 3.3 million barrels of oil to help replenish the Strategic Petroleum Reserve (SPR) after a massive sale from the stockpile in 2022, the Department of Energy said on Friday.</p>


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<p>Spot silver surpassed US$30 an ounce to hit the highest level in more than a decade.</p>

<p>The precious metal closed 6.5% higher at US$31.49 an ounce Friday, the highest since February 2013. It has soared 32% this year, outpacing gold and making it one of the year’s best-performing major commodities.</p>


<p>North Korean leader Kim Jong Un oversaw the test of tactical ballistic missiles with new guidance technology on Friday, state media <em>KCNA </em>said on Saturday.</p>


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<p>Crypto lender Genesis Global received court approval on Friday to return about US$3 billion (RM14.06 billion) in cash and cryptocurrency to its customers in a bankruptcy liquidation, leaving its owner, Digital Currency Group, with no recovery from the bankruptcy.</p>
