RHB unveils ringgit-based financing for property in UK, Australia
Known as RHB Overseas Property Financing, the ringgit-denominated full flexi loan is part of the bank's RHB Premier offering, targeting Malaysians who are not permanent residents or citizens of Australia or the UK.
The facility is open for the purchase of prime residential properties located within 30 kilometres of the central business districts of Melbourne or Sydney, or within Zones 1 to 3 in London.
RHB said clients have the option to request early financing disbursement during the property's construction phase to help manage foreign exchange risk, in line with Bank Negara Malaysia's guidelines on foreign currency asset investments.
The ringgit-based financing will be converted into foreign currency and placed into RHB's interest-bearing multi-currency account.
These funds will be earmarked as temporary security before being transferred to the overseas solicitor as part of the disbursement process once the property is completed.
In a statement, group community banking managing director Jeffrey Ng Eow Oo said the bank is dedicated to supporting RHB Premier clients as a reliable partner in expanding their property investments internationally.
"Our overseas property financing complements our clients' aspirations to tap into new growth opportunities, diversify their wealth portfolio and gain access to a new home at an attractive destination.
"We are here to provide the right expertise to our clients for their real estate investment ambitions with confidence," he added.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
a minute ago
- The Star
Malaysia committed to purchase 30 more Boeing aircraft worth US$9.5bil from US
The Boeing logo is displayed at the company's factory, Sept. 24, 2024, in Renton, Washington. - AP KUALA LUMPUR: Malaysia is committed to purchasing an additional 30 Boeing aircraft in the second phase, said Minister of Investment, Trade and Industry Tengku Datuk Seri Zafrul Abdul Aziz. He said the purchase of the additional aircraft was part of reciprocal negotiations between Malaysia and the United States (US). "In addressing trade deficit with the US, the government will make major procurements including the purchase of Boeing aircraft. Malaysia Aviation Group (MAG) is committed to purchase 30 Boeing aircraft valued at US$9.5 billion in the first phase and an additional 30 Boeing aircrafts valued at US$9.5 billion for the second phase,' he said during a special press conference regarding the tariff announcement by the United States. The US had earlier announced a reduction in tariffs on Malaysian exports to 19 per cent from the announced 25 per cent. Previously, MAG had announced the purchase of new Boeing aircraft to strengthen Malaysia's position as a major player in the global aviation industry. MAG had announced the acquisition of 30 new aircraft directly from Boeing as part of its aircraft modernisation strategy. The order includes 18 Boeing 737-8s and 12 Boeing 737-10s powered by CFM LEAP-1B engines with an option for 30 more 737s. The orders for hundreds of Boeing jets were announced through deals with Japan, the United Arab Emirates, Indonesia, Cambodia, Bangladesh and other countries as part of negotiations to reduce US tariffs. - Bernama
New Straits Times
a minute ago
- New Straits Times
Sapura Energy is now Vantris Energy Bhd
KUALA LUMPUR: Sapura Energy Bhd has changed its name to Vantris Energy Bhd, reflecting its cumulative effort in its corporate transformation. The name change, which takes effect today, follows shareholder approval at an extraordinary general meeting held on July 30. Shareholders also overwhelmingly approved the company's proposed regularisation plan, a crucial component of its financial and operational recovery. According to the company, the new name Vantris Energy reflects its renewed purpose and corporate identity. Group chief executive officer Muhammad Zamri Jusoh said the name was inspired by internal contributions, with over 200 submissions received from employees. "Vantris Energy was ultimately selected as the top choice," he said. The regularisation plan, which received approval from more than 99 per cent of shareholders, comprises four key components: capital reconstruction, debt restructuring, financing, and exemption from a mandatory general offer. As part of its debt restructuring efforts, the company's total borrowings will be cut from RM10.8 billion to around RM5.6 billion, leading to an estimated reduction of more than RM500 million in interest expenses. Malaysia Development Holding Sdn Bhd will subscribe to up to RM1.1 billion in redeemable convertible loan stocks as part of the company's fundraising initiative. The company said the funds raised will be used to settle outstanding payments owed to Malaysian oil and gas vendors, underscoring its continued commitment to supporting its ecosystem. "We are glad that shareholders have actively exercised their rights and played a decisive role in shaping the company's future. "With these approvals, Vantris Energy is now in a stronger position to move forward with renewed focus, financial strength and purpose," Zamri said.
New Straits Times
a minute ago
- New Straits Times
US' revised tariff on Malaysian goods helps restore fair competition: Top Glove
KUALA LUMPUR: Top Glove Corporation Bhd said the revised 19 per cent tariff on Malaysian goods by the United States (US) helps to restore fair competition for Malaysian exporters across the Asean region, aligning with conditions prior to the imposition of tariffs. The glove maker told Business Times that the situation remains in its early stages and it will continue to monitor developments closely while evaluating the potential impact on its operations and the wider industry in the months ahead. "While we recognise that some level of protectionism may be necessary, our view is that promoting free and fair trade will deliver greater value to our customers and consumers," it said. Top Glove also expressed support for ongoing government assistance to help local exporters navigate global trade uncertainties. The company said it welcomes measures such as improved trade facilitation, export incentives, and broader market access through bilateral or regional trade agreements to enhance resilience. "External factors such as tariffs lie beyond our control. As with any external challenge, our focus remains on what we are able to influence and ensure that we consistently deliver acceptable quality gloves at an efficient cost, in line with our business direction," Top Glove said. The US reduced its tariff on imports from Malaysia to 19 per cent, down from the originally planned 25 per cent.
