KUALA LUMPUR, Nov 19 (Bernama) -- Bursa Malaysia gave up earlier gains to end mixed today, amid a higher regional market showing, as property, construction, and healthcare counters attracted buying interests, while plantation, banking, and telecommunication stocks saw some profit-taking, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 1.70 points to close at 1,602.34 from yesterday’s close of 1,604.04. The benchmark index, which opened 0.86 of-a-point lower at 1,603.18, moved between 1,601.02 and 1,608.88 during the trading session. However, the broader market was mixed to higher, with gainers leading decliners by 565 to 438 while 502 counters remained unchanged, 961 untraded, and 14 suspended. Turnover narrowed to 2.83 billion units valued at RM2.08 billion versus 2.96 billion units valued at RM2.23 billion yesterday. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the benchmark index remained range-bound and it required a dec
Airbnb has called for "fair and balanced" regulations in Malaysia’s short-term rental accommodation (STRA) sector to promote growth while addressing concerns from traditional hotel operators.
Speaking at a roundtable on Malaysia’s tourism growth, Mich Goh, Airbnb’s Asia-Pacific public policy director, emphasized that regulations should foster innovation without stifling the sector's potential.
Key Highlights
- Fair Regulations Needed: Airbnb agrees on the need for regulation but stresses that it should not hinder industry growth.
- Framework for Responsible Hosting: In June, Airbnb introduced the "Guide to Responsible Hosting in Buildings", a framework aimed at helping strata hosts and property managers operate STRAs responsibly.
- Partnership with Legal Experts: Airbnb partnered with Zaid Ibrahim & Co and KPMG Law to create reference building by-laws, offering solutions for managing STRA activities in condominiums and apartments.
STRA's Role in Tourism Growth
- Airbnb reported a 30% year-on-year increase in nights booked in Malaysia for the first half of 2024.
- Kuala Lumpur ranked as the second most visited city in Southeast Asia, with domestic travelers favoring Johor Bahru, Petaling Jaya, Penang, and Malacca.
- As Malaysia prepares for Visit Malaysia Year 2026, Airbnb highlighted the critical role of STRA in driving sustainable and diversified tourism practices.
Government Support for Tourism
Malaysia has allocated RM550 million to boost tourism, aiming to attract international visitors and foster sustainable tourism.
Why Clear Guidelines Matter
- Building Confidence: Clear STRA guidelines would enhance public-private partnerships, ensuring confidence among hosts, guests, and stakeholders, according to Zaid Ibrahim & Co partner Mohamad Izahar.
- ASEAN Leadership: As Malaysia chairs ASEAN in 2025, introducing national STRA guidelines could strengthen its position as a tourism leader in the region.
Airbnb’s Vision
“Short-term rental accommodations and Airbnb’s community of hosts and guests will be instrumental in driving growth in Malaysian tourism,” Mich said. She expressed hope for swift national STRA guidelines that will empower hosts while providing visitors with unique, accessible accommodations.
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