Man loses RM500k to fake investment scam in Sungai Bakap
Penang deputy police chief Datuk Mohd Alwi Zainal Abidin said the 53-year-old, a former warehouse assistant supervisor in Singapore, had come across a Facebook ad promoting stock investments on March 21 and later contacted a woman who identified herself as 'Liane'.
'She introduced him to an investment called 'Silver Peak CP' through a mobile app that promised quick and high returns. Attracted by the offer, the victim downloaded the app and started investing,' he said in a statement today.
Between March 22 and June 24, the victim made 22 transactions into six different bank accounts provided by the suspect, totalling RM500,000. After that, he could no longer access the app.
Mohd Alwi said police are investigating and working to track down the syndicate.
The case is being probed under Section 420 of the Penal Code for cheating. - Bernama
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Sun
36 minutes ago
- The Sun
Homebuyers redefine value amid shift in mindset
AT FIRST glance, Malaysia's residential property market may appear quiet, but beneath the surface, a meaningful transformation is under way: a fundamental shift in how Malaysians approach property ownership. Today's buyers are intentional, value-focused, and sharply attuned to economic signals. The optimism of past years has given way to a more measured mindset shaped by global volatility, domestic caution, and a widening disconnect between asking prices and buyer expectations. This is not a retreat from the market; it is a recalibration. Malaysians are still buying, but with greater purpose and scrutiny. Supply expands, buyer expectations refocus According to the Property Market Q1'25 Snapshots by National Property Information Centre (Napic), residential construction jumped by 30.2% year-on-year (YoY), an expression of developer confidence. Yet, transaction volume and value fell 6.2% and 8.9%, respectively, highlighting a growing misalignment between supply and demand. This shift is not rooted in economic weakness. With policy interest rate steady at 3% and inflation down to 1.4% in April, Malaysia's fundamentals remain stable. But instead of acting on optimism, buyers are choosing caution. It is a clear signal: affordability today is no longer just about price; it's measured by perceived value. Bridging the price gap through buyer alignment Differences between current residential offerings and evolving buyer preferences are becoming more noticeable across key regions. In Kuala Lumpur, high-rise homes took the biggest hit, with prices dropping 7.3% quarter-on-quarter, which was the steepest decline among property types. According to Napic, overhang grew 14.8% year-on-year, with unsold units mostly being condominiums priced between RM200,000 to RM300,000. However, data from PropertyGuru Malaysia for April 2025 indicates that the condominium market is stabilising towards an equilibrium, showing only a slight month-on-month decrease in demand of 0.7% for condo-miniums. Selangor, meanwhile, tells a different story. According to Napic data, the price gap is widening in the apartment and serviced residence segments, but savvy buyers remain active when value aligns with expectations. Overhang fell nearly 40% year-on-year, signalling strong movement in well-priced, practical homes. Across most segments, caution dominates mark-to-market activity amid ongoing economic uncertainty. Penang continues to attract attention, especially in the condominium segment. PropertyGuru Malaysia's April 2025 data showed a 9.1% increase in condominium listing views, driven by infrastructure developments such as the LRT Mutiara Line. However, Napic data indicates a decline in transactions for homes priced above RM1 million, reflecting growing resistance to premium price points. Johor is shaping up as a market where rising prices are starting to test buyer patience. Napic reports an 8.7% year-on-year increase in high-rise prices for Q1'25. Correspondingly, PropertyGuru Malaysia's April 2025 data shows a 19.5% year-on-year decline in interest for serviced residences, with overall views for non-landed homes also trending downward. Like the non-landed property types, demand for landed property types also decreased YoY. The rise of the value-conscious buyer A dip in the demand index does not mean buyers have disappeared. In fact, they are just more selective. According to April 2025 data from PropertyGuru Malaysia, apartment views fell 14.1% while semi-detached homes dropped 21.4% year-on-year. Yet, property types that strike a smart balance between price, location, and lifestyle are defying the trend. Some even gain traction. 0 Selangor is a standout. Terraced homes continue to outperform, with demand rising 2.7% year-on-year and overhang falling 40%, according to Napic. This points to a healthy alignment between supply and real buyer appetite. 0 In Penang, condominium interest surged 9.1% year-on-year, buoyed by better connectivity and more competitive pricing, highlighting the positive impact of infrastructure upgrades like the upcoming LRT Mutiara Line. 0 Meanwhile, in Johor, the story is more nuanced. Napic data shows a 3.2% year-on-year increase in the All-Housing Price Index, led by high-rise and terraced homes. However, the price growth appears to be dampening sentiment, with declining demand suggesting that affordability concerns are weighing buyer decisions. These shifts tell us something important: buyers haven't exited the markedt. They are just more focused on finding real value. Developers are reimagining value in real time As buyers become more measured and data-driven, developers are also evolving their strategies to stay aligned. The traditional playbook of driving volume or focusing solely on premium segments is being rebalanced to meet a market increasingly shaped by value-conscious demand. Success now lies in realistic pricing, particularly in the resilient RM500,000 to RM800,000 bracket. Homes within this range continue to see steady interest, especially when paired with strong connectivity and well-designed, liveable environments. Transit-oriented developments and communities with integrated green spaces are emerging as long-term favourites among buyers. Equally important is understanding the new pace of decision-making. Buyers are being more deliberate, investing time in research, comparisons, and consultations before committing. In this era of intentional ownership, developers who align with value-driven demand through realistic pricing, livability, and accessibility are well-positioned to thrive. At PropertyGuru, we continue to support our partners with timely market insights and actionable data to help them better anticipate buyer behaviour, optimise offerings, and drive stronger outcomes across all segments. This article is contributed by PropertyGuru & iProperty country manager Malaysia, Kenneth Soh.
New Straits Times
2 hours ago
- New Straits Times
Travel agent who allegedly threatened couple in Japan arrested in Sepang
KUALA LUMPUR: A 36-year-old travel agent was arrested at a restaurant in Sepang yesterday for allegedly threatening a husband and wife in Japan in January. The suspect was arrested following a police report lodged by the victims on Jan 28 after they returned from Japan. Sepang district police chief Assistant Commissioner Norhizam Bahaman said the suspect is known to the victims through a different travel agency. "Preliminary investigations showed that the motive behind the incident stemmed from dissatisfaction over the management of bringing tourists to Japan. "The case is being investigated under Section 506 of the Penal Code for criminal intimidation, which carries a jail term, a fine, or both upon conviction," he said when contacted today. Norhizam said the suspect was arrested at 5pm yesterday, and a remand application will be made at the Sepang magistrate's court today. "The investigation papers will be referred to the deputy public prosecutor's office to decide on the next course of action." He added that the investigation pertains to the case of intimidation that took place in Sepang. Earlier, the victim, who is also a tour guide, Noornabilla Azemi, 36, claimed she was assaulted, had her head slammed against a bed frame, and received death threats from the suspect. The incident was reportedly witnessed by her husband at a friend's rented house in Japan on Jan 24. She said she and her husband were in Japan at the time to handle a group of Malaysian tourists in Tokyo under the assignment of a local travel agency. "I have known the suspect for two years and had previously been offered work as a tour guide through him. "However, I did not expect him to resort to violence simply because he was unhappy that I had supposedly entered an area in Japan he considered his territory. "During the incident, my husband, Mohamad Zhaza Mohamad, 34, along with a Malaysian friend living in Tokyo, was also assaulted," she said.
Barnama
2 hours ago
- Barnama
Thai Police Arrest Woman At Centre Of Monastic Extortion Scandal
By Wilawan Watcharasakwet BANGKOK, July 15 (Bernama) -- Thai police have arrested a woman at the centre of a sex and extortion scandal involving several senior Buddhist monks, on charges including misappropriation of property and conspiracy to commit money laundering. Deputy Commissioner of the Central Investigation Bureau (CIB), Pol. Maj. Gen. Jaroonkiet Pankaew, said the investigation began following a case on June 18 involving a senior monk and former abbot of Wat Tri Thotsathep in Bangkok, who was allegedly blackmailed. bootstrap slideshow According to Jaroonkiet, the suspect, a 35-year-old woman, was apprehended at her residence in a luxury estate in Nonthaburi, after police uncovered evidence of a 380,000 Baht transfer from another senior monk's Ayutthaya temple bank account to her personal account. 'This woman is considered a dangerous individual who needs to be apprehended without delay. The evidence led directly to her arrest today,' he told a press conference on Tuesday. He added that preliminary investigations had revealed that the woman had a personal relationship with the monk, which began in May 2024. Jaroonkiet said a financial probe also uncovered links to multiple temples, as well as video footage and other materials suggesting acts of extortion and blackmail. He emphasised that the authorities had no intention of tarnishing the reputation of the Buddhist institution, but the operation was necessary to curb misconduct and maintain the sanctity of the religion. 'We will take firm and impartial action against all individuals found to be involved,' he added.
