“If the locals want to buy the property, they can buy it at the same (reduced) price, but we still have supply overhang. We have built so many houses, but they were not sold. When a housing project is not sold, it causes the country to suffer losses."
According to Guan Eng, Khazanah Nasional Bhd, which controls a 51% stake in PLUS, submitted a proposal to sell PLUS to the government because the public investment arm is worried about the diminishing of assets by selling to private parties.
Finance Minister Lim Guan Eng: This measure is expected to benefit the property sector without affecting the interest of Malaysians.
Pragmatic, carefully curated to benefit the rakyat across ethnic groups and with timely incentives to reduce the country's dependence on foreign labour — these are among the comments from Malaysia's top bankers on Budget 2020, which was tabled in Parliament today by Finance Minister Lim Guan Eng.
It should be noted that Prasarana and SMRT have not inked a joint venture agreement, originally scheduled for June 30, 2018.
The minimum wage was previously raised to RM1,100 per month, starting from January 2019.
“This increase will affect approximately 2,000 top income earners in the country,” Finance Minister Lim Guan Eng said while tabling Budget 2020 today.
Lim has previously said, in Parliament, that the government will fund its takeover of the four highways via bond issuances.
It was not immediately revealed how much the project will cost this time.
However, the overall deficit in 2020 is expected to be lower compared with 3.4% in 2019 with fiscal consolidation remaining on its trajectory and the debt position at a manageable level.
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