Singaporean Deepak Gurnani has spent the past couple of years trying to recover an investment gone wrong in Malaysia. The 51-year-old businessman spent $66,000 on a property in the popular beach destination Port Dickson, Malaysia in 1993. It functioned as a fuss-free home away from home until two years ago, when the developer defaulted on the payment of the property’s maintenance fees.
Most Asian economies from Indonesia to India will deteriorate in the second half of the year because demand from both domestic and foreign buyers will weaken, according to Nomura. The exception is China, where monetary easing and fiscal policies are already starting to take effect and will help its economy rebound in the third quarter.