The cloud region in Malaysia would be Oracle’s third in Southeast Asia, after two in Singapore (Image: Oracle)
Database giant Oracle is the latest tech player to announce a big bet on Southeast Asia’s digital infrastructure, with that story leading today’s headline roundup. Also in the news, Google breaks ground on its $2 billion Malaysia data hub and the relaxation of homebuying rules sparks a rally in Chinese developer shares.
Oracle Plans $6.5B Investment in Malaysian Digital Infrastructure
Oracle plans to invest more than $6.5 billion to set up its first public cloud region in Malaysia, the company said Wednesday, in the latest major investment by a global tech firm into the Southeast Asian country.
Technology giants including Microsoft, Nvidia, Google and China’s ByteDance have announced billions of dollars worth of digital investments into Malaysia since last year, mostly in cloud services and data centres, powering an infrastructure boom driven by growing demand for artificial intelligence. Read more>>
Google Launches $2B Malaysia Digital Hub
Google on Tuesday launched its first data centre and cloud region in Malaysia.
With construction underway in Elmina Business Park, Selangor, the $2 billion investment in its data centre and cloud infrastructure will help meet growing demand for Google Cloud capabilities and AI innovations, and other digital products and services in Malaysia, the firm said. Read more>>
Investors Rush to Buy Shares in China’s Defaulted Developers
Shares of Chinese developers rallied like never before after Beijing joined its Tier 1 city peers to ease rules for homebuyers, following the Asian nation’s call to put a floor under the property market decline.
A Bloomberg Intelligence gauge of Chinese real estate stocks surged as much as 31 percent — a record — on Wednesday, following the Monday announcement that the nation’s capital will make it easier for non-residents to buy property in core areas and cut minimum down-payment ratios. The index has risen 92 percent over the last five trading days. Read more>>
Sales of Million-Dollar Singapore Public Housing Apartments Break Record in Q3
Appetite for public housing in excess of S$1 million ($776,940) is growing strongly in Singapore, with the number of units sold so far this year surpassing all of 2023 and hitting a record in the third quarter, market data showed Tuesday.
In Singapore, eight out of 10 of its citizens live in homes built and sold by the government, and their affordability is a key issue alongside high living costs going into a general election next year. Read more>>
More Than 50 Data Centres on the Way in Malaysia’s Johor
There are over 50 data centres in Johor that are either in the application, construction or operational stages and more are on the horizon, according to Olive Tree Property Consultants CEO Samuel Tan.
He anticipates that this number will grow, particularly with the launch of the Forest City Special Financial Zone, which is expected to boost foreign direct investment, alongside the Johor-Singapore Special Economic Zone. “Despite the influx of data centres into Malaysia over the past year, many operators are still eager to establish facilities in Johor,” Tan said. Read more>>
Luxury Home Sales Jump in Shanghai, Shenzhen After Stimulus Measures
Sales of luxury homes jumped in the mainland Chinese cities of Shanghai and Shenzhen immediately after the historic stimulus package, with wealthy buyers snapping up some 360 flats totalling RMB 20 billion ($2.85 billion) as buyers bet on a brighter economic outlook.
Lakeville Phase 6, a residential project by Shui On Land in the heart of downtown Shanghai’s Huangpu district, sold all 108 flats launched Friday, fetching RMB 12 billion. Read more>>
Korea’s NPS Suffers From Chronic Understaffing
South Korea’s largest institutional investor, the National Pension Service, has struggled to recruit investment managers, raising concerns about the quality of its fund management capability.
According to NPS data obtained by Kim Sun-min, a lawmaker of the Rebuilding Korea Party, head count of the $870.6 billion fund’s investment management staff stood at 362 at the end of June, falling 53 short of its annual job quota. Read more>>
Seoul Apartment Market Cools Ahead of Bank of Korea Rate Decision
Seoul’s housing market showed more signs of cooling last month, with apartment prices and transactions continuing to slide, creating more favourable conditions for the Bank of Korea to consider a policy pivot next week.
The number of trades dropped to 1,501 in September from 6,087 in August, marking the second month of declines, according to preliminary data seen Tuesday on the website of the Seoul city office. The average sales price also slipped to KRW 1.1 billion ($830,000) per unit from KRW 1.2 billion a month earlier in a third consecutive decline, the data showed. Read more>>
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