NEW YORK, April 4 — The cost of maintaining a drugs, booze and cigarettes habit got a lot more expensive in the US last year, rising the most of almost anywhere in the world, the annual Bloomberg Global Vice Index shows. Americans had to fork…
The market started on a bullish note last week but pulled back on Friday after the US Federal Reserve increased key interest rates to a highest level in a decade at 1.75 per cent. This caused Wall Street to fall sharply at the end of the week and this has shaken markets globally including Malaysia. […]
KUALA LUMPUR (March 21): Based on corporate announcements and news flow today, companies in focus on Thursday (March 22) may include: Sapura Energy Bhd, IOI…
WASHINGTON, March 21 — A federal government spending deal being worked out in the US Congress includes additional funding to boost border security, protect the upcoming elections in November and rebuild aging infrastructure, a source familiar…
It was another directionless week for the market last week. The FBM KLCI started on a bullish note but fell and erased most earlier gains. The index managed to close marginally higher. The movement in the past one week was within the sideways trend support and resistance levels between 1,800 and 1,870 points and hence […]
PETALING JAYA (March 10): IOI Properties Group Bhd has secured S$1.6 billion (RM4.7 billion) out of S$1.9 billion needed for its proposed joint venture in Singapore worth at least S$2.84 billion, making progress in its race against time to get the project off the ground. Sources told The Edge weekly that the developer had secured the funding from five banks, namely DBS Bank, Bank of Tokyo-Mitsubishi UFJ, OCBC and Sumitomo Mitsui; the remaining S$300 million it requires is being negotiated with Bank of China. The money will be used toRead More
KUALA LUMPUR: CIMB Bank Bhd yesterday launched its 1-Minute Home Financing as part of CIMB’s InstaApproval platform.
The CIMB 1-Minute Home Financing facilitates complete approval within a single minute upon full submission of information and documents, for salaried customers.
The instant approval process is considered a full approval and the letter of offer can be generated immediately for customer’s signature, as opposed to a conditional or “in-principle” approval.
CIMB senior managing director and regional head of cards, retail assets and deposits for consumer banking Vipin Agrawal said its market share for mortgage stood at 12%-13%.
“We’re growing faster than the market, and we can continue to grow faster,” he told a press conference after the launch of the CIMB 1-Minute Home Financing InstaApproval. He said the bank uses the customer’s identification card to verify the person’s identity, pull statements from Employees Provident Fund and capture demographic information to affect the instant approval.
Currently eight developers are participating in the CIMB 1-Minute Home Financing InstaApproval, through a total of 60 projects. The developers are Eco World Development Group Bhd, IJM Land Bhd, IOI Properties Group Bhd, Mah Sing Group Bhd, Sime Darby Property Bhd, SP Setia Bhd, Tropicana Corp Bhd and UEM Sunrise Bhd. More developers and projects will be added to this platform and by May 1, it will be extended to more property projects outside the Klang Valley.
The CIMB InstaApproval platform is already facilitating applications for personal financing, Amanah Saham Bumiputera financing and credit cards. Vipin said CIMB will next roll out InstaApproval for auto loans.
The CIMB InstaApproval enables a secure, paperless process involving, among others, biometric fingerprint identification and other verification steps completely online.
Currently, Vipin said the 1-Minute Home Financing using CIMB’s InstaApproval platform is only for salaried Malaysians, self-employed applicants will need to go through the normal process of loan application and submitting documents, of which approval will take two days.
KUALA LUMPUR, March 1 — Bursa Malaysia ended the morning session in positive territory today, supported by continuous buying momentum in plantation and trade/services-related blue-chip counters. At 12.30pm, the benchmark FTSE Bursa Malaysia…