Malaysia facing a towering problem

A SINGLE constant racket sounds across Peninsular Malaysia from the pile-drivers and jackhammers being wielded by workers who are building townships, apartments, malls, and ever-larger towers from Penang to Johor Bahru.

A building glut is becoming a serious concern.

Property tycoon Chua Ma Yu, who made his money from banking in the 1990s and then moved on to property, said: "I've never seen such excessive building in the Klang Valley and Johor. It's never been like this before. There is going to be a substantial surplus."