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PETALING JAYA: Analysts are mixed on non-bank lender Malaysia Building Society Bhd’s prospects following its poor results, with some feeling the worst has been ...

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Get your retirement planning done today! Am50 Plus offers high interest term investment with a minimum deposit of RM 5000

Bank Kerjasama Rakyat Malaysia Berhad which is more known as Bank Rakyat was founded on September 28, 1954 through the merging of 11 union banks. It is an Islamic cooperative bank registered under the Cooperative Societies Act 1993 (Cooperative Ordinance of 1948). It has been established as a result of the cooperative movement in Malaysian banking especially in the Peninsular Malaysia where it gained its first named Apex Bank also called as Bank Agong.

In 1989, the bank is wholly controlled by the Ministry of Finance and the Ministry of Land and Co-Operative Development before it was taken over by the Central Bank of Malaysia which is under controlled by the Development of Financial Institution Act in 2002. After 2004, the bank was again is controlled by different entity namely the Ministry of Domestic Trade, Cooperative and Consumerism. Although the existence of Bank Rakyat in Peninsular Malaysia can be traced back in 1964, Bank Rakyat only opens its branches in Sarawak and Sabah in 1994 under the assessment of the Cooperative Act in 1993.

Since then, the Bank Rakyat has set out its venture on Sharia compliant at four of its branches in May 8, 1993 and has then started slowly to become a full-fledged Islamic cooperative bank in the early 2003, where the bank has successfully converted at least 1.1% conventional assets balance in order to comply with the Sharia guidelines. Furthermore, the bank has also opened up Ar-Rahnu X’change to strengthen its position in the Islamic banking industry in order to help the bank in the operation of Islamic pawnshop outlets.

As such, many are anticipating new property hotspots to emerge along the vicinity of public transportation projects in the Klang Valley, which include the mass rapid transit (MRT) lines, light rail transit (LRT) line 3 , LRT Kelana Jaya Line Extension Project, bus rapid transit (BRT) for the Federal Highway, and the Kuala Lumpur-Singapore high speed rail (HSR).

One of the lines on track is the MRT Line 1 or the MRT Sungai Buloh-Kajang line, which has 31 proposed stations. Slated to become operational by year end is Phase 1 of the line comprising 12 stations, namely Sungai Buloh , Kampung Selamat, Kwasa Damansara, Kwasa Sentral, Kota Damansara , Surian, Mutiara Damansara , Bandar Utama, Taman Tun Dr Ismail, Phileo Damansara, Pusat Bandar Damansara and Semantan.

In view of this ripening harvest, TheEdgeProperty.com carried out a poll among 10 property consultation firms and real estate agencies to rank the top three property hotspots along the 12 stations in Phase 1. The participants were CBD Properties Sdn Bhd, ExaStrata Solutions Sdn Bhd, JS Valuers Property Consultants Sdn Bhd, Kim Realty Sdn Bhd, Landserve Sdn Bhd, LaurelCap Sdn Bhd, Metro Homes Sdn Bhd, Nawawi Tie Leung Sdn Bhd, Oregeon Property Consultancy Sdn Bhd and PA International Property Consultants Sdn Bhd.