{"id":18832,"date":"2016-07-06T11:29:21","date_gmt":"2016-07-06T04:29:21","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/what-happens-now-to-malaysian-property-investments-in-london-after-brexit\/"},"modified":"2016-07-06T11:40:37","modified_gmt":"2016-07-06T04:40:37","slug":"what-happens-now-to-malaysian-property-investments-in-london-after-brexit","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/what-happens-now-to-malaysian-property-investments-in-london-after-brexit\/","title":{"rendered":"What happens now to Malaysian property investments in London after Brexit?"},"content":{"rendered":"


\nNo turning back for the UK\u2019s Malaysian investors
\nLondon\u2019s iconic Battersea Power Station. Image credit: August Brill (Flickr)
\nMalaysian real estate players are confident they won\u2019t be losing out as a result of the UK\u2019s Brexit vote, despite widespread caution as a result of the devaluation of the pound.
\nSeveral Malaysian companies are forging ahead with property investments in London.
\nIn a statement, Sime Darby Bhd insisted that the referendum won\u2019t affect the prospects of its Battersea project in the British capital.
\n\u201cWe are confident the iconic development will continue to generate interest in the longer term,\u201d the company stated.
\nIndeed, the weakened pound has been the reason for a predicted \u201cbuying spree\u201d for Malaysian investors, although long-term prospects at this stage are unknown.
\nThe Malaysian palm oil producer has partnered with property developer SP Setia Bhd and the Malaysian government, through the Employees Provident Fund, to invest USD10.75 billion in redeveloping the historic Battersea power station as the centrepiece of a new master-planned district in London.
\nAccording to SP Setia\u2019s filing at Bursa Malaysia, the project will add 1,661 units to the city\u2019s residential supply. Around 85 percent of the Battersea development have already been sold, the filing also showed.
\nMore: Despite Malaysia\u2019s property slump, things are looking up in Penang
\nOn the other hand, Eastern & Oriental Bhd (E&O) announced that they are maintaining a \u201cflexible and agile stance\u201d in spite of the market changes that have arisen from Brexit. This year, it will follow through the final stages of converting Prince House, the London office building it acquired in 2012 for MYR330.4 million (USD81.8 million), into a residential complex.
\nAnalysts predict that profits from such projects may suffer after conversion to Malaysian ringgit. The sterling has been underperforming following news of the Leave campaign\u2019s victory, which pushed the currency to its steepest one-day fall yet.
\nThe IMF expects the UK to slide into recession next year as a result of its dissociation from EU.
\nMalaysia is relatively unfazed by Brexit insofar as trade is concerned. The UK now accounts for only 1.2 percent of Malaysia\u2019s total exports.
\nMalaysia\u2019s imperviousness to Brexit\u2019s repercussions is based on the assumption that it won\u2019t lead to a contagion among EU members. Malaysia currently has strong trading ties to the Netherlands and Germany.
\nDue to a property slump, portfolio capital outflows of more than MYR1 billion (USD247.6 million) have been detected from Malaysia in the last two months or so, Astro Awani reported.
\nRead next: 4 things to know about the current state of Malaysian real estate
\n
\n
\nSource : property-report.com
\nRead more…What happens now to Malaysian property investments in London after Brexit?<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

No turning back for the UK\u2019s Malaysian investors London\u2019s iconic Battersea Power Station. Image credit:...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-18832","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-4TK","jetpack-related-posts":[{"id":132610,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/malaysian-investors-complete-acquisition-of-battersea-power-stations-commercial-assets\/","url_meta":{"origin":18832,"position":0},"title":"Malaysian investors complete acquisition of Battersea Power Station’s commercial assets","date":"March 15, 2019","format":false,"excerpt":"\r Malaysian asset manager Permodalan Nasional Berhad (PNB) and The Employees Provident Fund of Malaysia (EPF) have acquired the commercial assets in the Battersea Power Station regeneration project through a joint venture, the companies announced in a statement yesterday. The reorganisation of the ownership of commercial assets within the Grade\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":27883,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/apples-plans-for-new-battersea-power-station-hq-sound-pretty-dramatic\/","url_meta":{"origin":18832,"position":1},"title":"Apple\u2019s plans for new Battersea Power Station HQ sound pretty dramatic","date":"September 30, 2016","format":false,"excerpt":"\r The tech giant will house its London campus in the legendary Art Deco landmark by 2021 Battersea Power Plant in London, a landmark immortalised in Pink Floyd album \u2018Animals.\u2019 Claudio Divizia\/Shutterstock Battersea Power Station, the iconic coal power plant by the Thames River in London being redeveloped by a\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":77290,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/battersea-power-station-to-be-sold-for-1-6bn\/","url_meta":{"origin":18832,"position":2},"title":"Battersea Power Station to be sold for \u00a31.6bn","date":"January 19, 2018","format":false,"excerpt":"\r Malaysian sovereign wealth fund PNB to buy iconic building in one of UK\u2019s largest ever property dealsBattersea Power Station is to be sold for \u00a31.6bn in one of Britain\u2019s largest ever property deals.Malaysian sovereign wealth fund Permodalan Nasional Berhad (PNB), alongside Employees Provident Fund of Malaysia, have announced their\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":77236,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/malaysian-fund-to-buy-stake-in-battersea-power-station\/","url_meta":{"origin":18832,"position":3},"title":"Malaysian fund to buy stake in Battersea Power Station","date":"January 18, 2018","format":false,"excerpt":"\r Deal values building at \u00a31.6bn\r \r Source : ft.com\r Read more...Malaysian fund to buy stake in Battersea Power Station","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":77252,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/malaysian-fund-buys-major-stake-in-battersea-power-station-in-1-6bn-deal\/","url_meta":{"origin":18832,"position":4},"title":"Malaysian fund buys major stake in Battersea Power Station in \u00a31.6bn deal","date":"January 18, 2018","format":false,"excerpt":"\r \r \r Source : telegraph.co.uk\r Read more...Malaysian fund buys major stake in Battersea Power Station in \u00a31.6bn deal","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":77282,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/malaysian-fund-pnb-buys-battersea-power-station-stake\/","url_meta":{"origin":18832,"position":5},"title":"Malaysian fund PNB buys Battersea Power Station stake","date":"January 18, 2018","format":false,"excerpt":"\r Cash injection will allow the building to be completed amid rising costs\r \r Source : ft.com\r Read more...Malaysian fund PNB buys Battersea Power Station stake","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/18832"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=18832"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/18832\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=18832"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=18832"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=18832"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}