News about Malaysia

KUALA LUMPUR (Nov 5): Three years ago, when former prime minister Datuk Seri Najib Razak, who was also the finance minister, unveiled Budget 2016, many labelled it the “Robin Hood” budget — a reference to a fictional character who took from the rich to give to the poor — simply because the personal income tax rate of those in the higher income bracket was raised.

KUALA LUMPUR (Nov 5): The federal government’s proposed airport real estate investment trust (REIT) may be neutral for Malaysia Airports Holdings Bhd (MAHB) in the near term.

KUALA LUMPUR (Nov 5): The government’s announcement that it will take over the Eastern Dispersal Link (EDL) expressway from Malaysian Resources Corp Bhd (MRCB) for RM1.

The design of affordable housing schemes have been pretty much the same everywhere – a few high-rise blocks that look like pigeon holes, a high density of small apartments with the typical 2-bedroom or 3-bedroom layouts.

有期地契房产一般在租期过了30年之后，资产增值幅度就会开始放缓，这也意味着业主该考虑申请延长租期了。 Messrs Amir Toh Francis & Partners 事务律师Ivan Chan表示，申请延长有期地契租期没有所谓的最佳时机，但业主必须谨记的是，切勿等到租期过期后才申请延长，因为到时候的手续将更为繁琐。 他在早前的Maspex 2018房产展销会上的专题演讲中说：“延长有期地契租期的手续应该在到期前申请，若是已经过期，那么就得重新申请地契转让，这么做的话将涉及更昂贵的费用，这笔费用甚至可能就像是在买地。” 如果有期地契租约已经到期，而且业主没有展开任何行动，相关物业的产权将自动归州政府所有，并且可以开放让其他人申请拥有。 他指出，业主提出延长申请不一定会被批准，即便获得批准，延长期限或许也会比原来的租约期限来得短。 他续称，有期地契房产的土地拥有权归州政府所有，且各州对有期地契的租期延长申请拥有不同的审核标准与程序，涉及的费用也各异。 如果业主的申请获得批准，也必须在限期内缴交更新租期的费用，否则在逾期后，业主必须重新申请。 一般上，州政府拒绝申请的理由，大多是相关土地将被征作公共设施或大型基建项目的发展用地，或是作为国家紧急计划用途。 英文版原文已于2018年10月5日刊登于EdgeProp.

PETALING JAYA (Nov 2): The Malaysian Institute of Estate Agents (MIEA) has described Budget 2019 as a budget with “more answers than questions”.

PETALING JAYA (Nov 2): The Securities Commission Malaysia (SC) said the Budget 2019 has identified key priorities to support the transition of the Malaysian economy towards a more balanced, sustainable and inclusive growth.

KUALA LUMPUR (Nov 2): Malayan Banking Bhd (Maybank) sees the property sector as the biggest winner of Budget 2019, with a variety of measures ranging from specific allocations for supply – financing of first-time purchases – of affordable housing, as well as stamp duty exemptions and property crowdfunding to help the industry clear the supply overhang, placing it on a path to sustainable growth.

PETALING JAYA (Nov 2): The Real Estate and Housing Developers’ Association Malaysia (Rehda) President Datuk  Soam Heng Choon (pictured) has lauded the government’s initiative in introducing a new technology-based mechanism –property crowdfunding, to encourage homeownership.

PETALING JAYA (Nov 2): The increase in  stamp duty rates for the transfer of property valued RM1 million and above as well as the imposition  of Real Property Gains Tax (RPGT)  on future property sales have increased the entry and exit costs for property ownership which might dampen investors’ interest, said Savills Malaysia managing director Datuk Paul Khong.