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PTPTN: Postponement of PGB scheme a good move — Anwar
ALOR SETAR (Dec 7): The Government’s decision to postpone the Scheduled Salary Deduction (PGB) scheme of the National Higher Education Fund Corporation (PTPTN) was a... [...]
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Debt-laden Hyflux says still working on terms of scheme of arrangement
SINGAPORE: Water treatment firm Hyflux is still working towards formulating the terms of a scheme of arrangement involving creditors, the group said, dismissing recent media articles reporting the purported details of a formal plan proposed to its senior unsecured financial creditors as mere speculation. [...]
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30 Bitcoin investment scheme victims report RM22m losses
Thirty victims have lodged police reports against an investment scheme involving bitcoin over losses amounting RM22 million. — Reuters pic KAJANG, Nov 19 — Thirty victims have lodged police reports against an investment scheme involving bitcoin over losses amounting RM22 million.One of the victims, Mohd Alif Basari, 27, who was a former nurse at a private hospital, claimed he invested more than RM60,000 since joining the investment in April 2016 and had only received returns of  RM2,000.He said he joined the bitcoin investment after attending a briefing at a hotel in the federal capital on the investment organised by a local film producer.“We were promised monthly dividend based on the purchase of one bitcoin priced at RM1,800. In the first few months, I received returns of about RM500 to RM600 in cash.“Seeing the returns, I invested up to 20 more bitcoins as at July 2016. Nonetheless, after that the investment system began to struggle when the issuance of dividend was halted causing me to be worried,” he told reporters at the Kajang police headquarters here today.He was among 30 victims who made police report and call for investment company to be investigated so that others would not be duped.In this regard, the Malaysian Cyber Consumer Association (MCCA) chairman, Siraj Jalil said to date more than 300 individuals had come forward to complain to the association. “All victims who lodged reports suffered losses of between RM10,000 to RM600,000 after joining the syndicate since 2015,” he said. — Bernama [...]
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Developers moot REIT alternative to FundMyHome scheme
Rehda Institute chairman Datuk Jeffrey Ng Tiong Lip delivers his speech during the Budget 2019 Commentary at Wisma REHDA in Petaling Jaya November 13, 2018. — Picture by Mukhriz Hazim PETALING JAYA, Nov 13 — The government should consider a real investment trust (REIT) specialising in residential property as another possible solution to the lack of affordable homes, the Real Estate and Housing Development Association Institute (Rehda) proposed today.Touting this to be an alternative to the FundMyHome peer-to-peer platform, chairman Datuk Jeffrey Ng said the proposed REIT could be used to develop public housing catering to the B40 class.REITs are firms that build, operate or fund property development in which members of the public may participate in by buying shares in the company.Among others, Ng said the 20 per cent upfront payment in the FundMyHome scheme made it inaccessible to lower income earners who make up the bulk of the B40 class at which it is targeted.“With regards to the 20 per cent down payment under the scheme, as the initiative is targeted at first-time home buyers for properties between RM300,000 and RM500,000, we foresee a problem in buyers coming up with such down payment RM60,000 to RM100,000.“As it is today, 10 per cent down payment is already a huge hindrance to home purchase for most first-time house buyers and as such, will the target group be able to meaningfully participate in the FundMyHome scheme?”Ng made the remarks in his opening speech at the Rehda Institute 2019 Budget commentary here today.Ng, who is also the chairman of the Malaysian REITs Managers Association (MRMA), said Rehda will work with the former to propose the REIT and its mechanism to Putrajaya.“If they agree then the next step is to take it to the Securities Commission,” he said.FundMyHome hit controversy after it was launched just two days after Budget 2019 and drew criticism from former prime minister Datuk Seri Najib Razak and Datuk A. Kadir Jasin, among others, over its launch timing.Najib said it smacked of insider knowledge as the scheme was launched as though the company already knew it would be announced in Budget 2019 while Kadir said it exposed the government to suspicions of cronyism.Earlier today, Ng said it was still unclear how the Pakatan Harapan government will deliver its pledge of a million affordable homes in the next decade.Citing Rehda Institute’s studies, Ng said this would require 4,100 acres and cost about RM220 billion.“How are they going to raise the funds to build such huge numbers, and how are they going to identify suitable land with a suitable ecosystem for affordable housing, remains a puzzle to the industry.“Perhaps with concerted and holistically planned efforts among the federal government, state government and GLCs, such lands required for the delivery of these one million affordable houses can be made, provided there is strong political will,” he said. [...]
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PM launches FundMyHome scheme to help first time home owners
SEMENYIH: Prospective first-time homeowners will find it much easier to finance a roof over their heads, with the launch of a new scheme matching first-time buyer with financial institutions. [...]
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Android apps used in multi-million dollar ad fraud scheme
A recent investigation by BuzzFeed News has revealed that more than 125... The post Android apps used in multi-million dollar ad fraud scheme appeared first on Marketing Magazine Asia. [...]
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Modi announces space mission, health scheme as election nears
Modi gestures while delivering his speech as part of India’s 72nd Independence Day celebrations, which marks the 71st anniversary of the end of British colonial rule, at the Red Fort in New Delhi. — AFP photo NEW DELHI: India will launch its first manned space mission by 2022 and roll out a health insurance scheme from September, Prime Minister Narendra Modi said yesterday in his last Independence Day speech ahead of next year’s general election. Modi, a powerful speaker who will seek re-election in the world’s biggest democracy early next year, used the speech to broadcast his government’s achievements, amid concerns about lack of jobs and rising violence against the Muslim minority. Wearing a flowing saffron turban, the Hindu nationalist leader also announced the plan to take the ‘Indian tricolour to space’ in a manned mission that would make India the fourth nation to launch one, after the US, Russia and China. “India is proud of our scientists, who are excelling in their research and are at the forefront of innovation,” Modi said from the ramparts of the Mughal-era Red Fort in Delhi to a crowd numbering in the tens of thousands. “In the year 2022 or, if possible, before, India will unfurl the tricolour in space.” Months after Modi’s election in 2014, India became the first Asian nation to reach Mars when its first mission to the red planet entered orbit, at a cost of US$74 million, or less than the budget of the Hollywood space blockbuster ‘Gravity’. Modi said his government would launch from Sept 25 a previously announced medical insurance scheme, dubbed ‘Modicare’, to give about 500 million poor people annual health cover of 500,000 rupees (US$7,200) to treat serious illness. Critics say that while Modi has adopted several initiatives, his tenure has been marred by violence against Muslim cattle traders and economic jolts through a countrywide ban on high-value notes and the botched launch of a unified taxation system. Businesses have embraced the unified Goods and Services Tax after initial hiccups, Modi said in his speech. In his 80-minute speech, Modi said the pace of building highways, electrifying villages and building toilets has increased since his landslide 2014 election win that devastated the main opposition Congress party. Congress, which had ruled India for decades, is now trying to unify the opposition to challenge Modi, whose personal ratings remain high despite recent election setbacks. “We want to progress more. There is no question of stopping or getting tired on the way,” Modi said. — Reuters     [...]
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