Category Archives: EZ 63 – Business & Markets

Sunway Education Group CEO Professor Elizabeth Lee Wins UN Women Leadership Award

Sunway Education Group CEO, Professor Elizabeth Lee is no stranger in the Malaysian higher education arena where she has been actively involved in the industry for the past 28 years. Her latest milestone in her achievements was when she was recently celebrated as the award winner in the Leadership Commitment category at the UN Women’s 2021 Malaysia Women’s Empowerment Principles (WEPs) Awards ceremony. 

This award recognises corporate leaders who have been instrumental in setting strong corporate commitment including progressive policies, regulations or practices that aim to promote gender equality in the workplace, marketplace and community. This includes taking on specific roles and responsibilities to promote gender equality within the company and making public commitments or delivering gender-sensitive messages to the public.

Professor Lee believes that men and women bring different strengths to the workplace and the university is committed to advancing the United Nations Sustainable Development Goals (UN SDGs) especially in encouraging and promoting goals no. 4 – Quality Education, no. 5 – Gender Equality and no. 10 – Reduced Inequalities, through events, campaigns and on a daily basis. 

Professor Lee continuously advocates gender equality among Sunway Education Group’s employees and students and frequently participates in various local and international forums and conferences related to education, gender equality and women empowerment.

She elaborated, “I am proud to say that at the Sunway Education Group, women make up more than 65 percent of the workforce, including top management roles. To ensure both our female and male employees’ welfare and wellbeing, we have various policies in place including Flexible Work Arrangements for Mothers, Anti-Sexual Harassment, as well as Diversity and Inclusion.  

In accepting the award, Professor Lee credits the effort, commitment and dedication of her colleagues together with the firm support from the Board and Sunway Group Chairman, Tan Sri Jeffrey Cheah himself, who greatly advocates education, gender equality, women empowerment and the SDGs.

Baby Steps to Achieving Your Financial Goals

by Calvin Goon,
Head of Wealth Management, Affin Bank Berhad

Achieving financial goals may sound big to a lot of people and often takes a little more effort than just luck. However, is it unachievable at all? 

Just like any of the large task we have, it will sound less difficult if we break them it into smaller sub-tasks. The key here is taking “Baby Steps”. Try to improve your financial wellness by challenging yourself into taking some of these baby steps below:

Again, it might seem difficult to start despite breaking your large financial goals down into “Baby Steps” but you will be astounded by how your financial position will improve once you start to follow through all these steps gradually. 

At Affin Invikta, we can help you start your Baby Steps by offering customized financial solutions tailored to your needs. Want to know more? Reach out to us at and we will assign a dedicated Relationship Manager to guide you through.

Scan here to know more about Affin Invikta

Success is not overnight. It all starts with ‘BABY STEPS’

Is Property Overhang Still A Main Concern to Most House Buyers?

by Kenny Teoh,
Managing Director, Hectarworld Group

The supply overhang remains a concern to most Malaysians in general as according to the National Property Information Centre (“NAPIC”) data in Figure 1 below, a total of 30,358units of completed houses were reported unsold in the third quarter (Q3) of 2021, and by state with reference to Figure 2, 3, 4 and 5 respectively, Johor has the highest number of unsold units(21 per cent share) in Malaysia, followed by Penang (15 per cent), Kuala Lumpur (13 per cent) and Selangor (11 per cent).

According to the definition by the NAPIC, overhang is defined as residential units which have received Certificate of Completion and Compliance (CCC) but remained unsold for more than nine months after launch.

A property overhang reflects an area of the market where the supply of available properties is higher than demand. Among the factors that contributed to the property overhang were changing economic conditions, supplies that did not match demands in localities, prices and household income, and unattractive locations of housing projects.

New launches will contribute to the overhang situation if developers do not accurately assess or predict local market conditions, then they may ultimately end up oversupplying the market.

The property market’s performance for the third quarter of 2021 (Q3 2021) is expected to remain stagnant due to the impact from enforcement of Movement Control Order (MCO 3.0),. Pent-up demand is expected by early Q1 2022 after the government lifted the MCO 3.0.

Nevertheless, Malaysia’s property market remains relatively resilient due to the strong financial position of property developers and banks’ continued lending.

This property overhang situation is expected to remain stable amidst efforts by developers to clear unsold completed properties at a reasonable price and measures taken by Malaysian Government like the Home Ownership Campaign (HOC) and low interest rate regime to encourage more home ownership especially for first-time home buyers.

Data by the NAPIC revealed a 1.83 per cent decrease in the number of unsold residential units in the third quarter of 2021 compared with the third quarter of 2020 (a total 30,926 unsold completed houses).

This slight drop in unsold housing properties was attributed to numerous promotional efforts by developers including reducing prices or offering discounts to house buyers.

“This was shown by the reduction in the House Price Index in the third quarter of 2021 (preliminary) recorded at 198.6 index point compared with the third quarter of 2020 at 199.9, which is a 0.7 per cent drop (as shown in the Figure 7 below)

The current low Overnight Policy Rate (OPR) of 1.75 per cent since July 7, 2020, and the HOC which offered duty stamp exemption and a 10 per cent discount on houses priced between RM300,000 and RM2.5 million by developers registered with the Real Estate and Housing Developers’ Association Malaysia (REHDA) till year-end of 2021 have helped shore up residential property sales, easing the overhang in the segment in the third quarter.

Most prospective buyers are owner-occupiers who capitalise on the low interest rate and incentives offered under HOC or by the developers. The young population and first-time house buyers are the main factors that drive the demand for properties.

What is next for the property sector and house buyer like you and I?

It’s a buyer’s market now!

During the pre-pandemic period, the sheer number of newly completed and handover units in the market had shifted the bargaining power in the property market to house buyers.

In the case of an oversupply of property market, a house buyer might even be able to find a great deal with many perks from developers and banks. House buyers can try and negotiate for reduced prices or sweeteners like freebies or discounts are more likely to happen in a buyers’ market.

Malaysian economy is expected to gain momentum after the government lifted the MCO since Q3 2021 and is preparing to enter epidemic phase with possible opening of borders in 2022. Based on recent preliminary claim made by Bank Negara, the overall economy will expand between 5.5% and 6.5% in 2022. Firmer property market from H2 2022 onwards will be expected driven by the economic recovery as income may rise and turn into greater purchasing power. There could also be spill over effects to property market from strong commodity prices and stock market gains.