KUALA LUMPUR — The Real Property Gains Tax (RPGT) valuation on property would only be calculated from the year 2000 onwards, says Finance Minister Lim Guan Eng. He said that this is done to give clarity on the issue following feedback from concerned property owners who have bought and owned…
KUALA LUMPUR — Bukit Bintang City Centre (BBCC) is looking at bringing in more local start-ups to be part of its Malaysia Grand Bazaar (MGB) component, part of the Entertainment Hub of the multi-billion ringgit development. Bukit Bintang City Centre Development Sdn Bhd CEO Low Thiam Chin said MGB aims…
PETALING JAYA — Given recent advancements in technology, the use of robots to build houses at construction sites is no longer science fiction. Property developers around the globe are investing heavily in robotics technology for the construction industry. One developer which has recently ventured into the robotics industry is China’s…
Mammoth Empire Holding Sdn Bhd (MEH), developer of Empire City Damansara, an RM5 billion project launched 2011, is making moves that will raise RM800 million, enable the paring down of debts, complete long-delayed projects and take the group to sound financial-footing by the middle of 2019. At the top of…
PETALING JAYA — Property developer Paramount Property is set to launch the commercial component of its Atwater development, which comprises two office towers and a retail component by the end of this month. Atwater is a mixed development located at Jalan Universiti, Section 13 in Petaling Jaya. The project’s residential…
KUALA LUMPUR — Property developer Datuk Tan Eng Boon pleaded not guilty to bribing former Federal Territories Minister Datuk Seri Tengku Adnan Tengku Mansor and abetting him five years ago. Tan, 70, was accused at the Sessions Court here today (Nov 15) of giving Tengku Adnan, 68, RM1mil via a…
KUALA LUMPUR — EdgeProp Sdn Bhd chairman Datuk Tong Kooi Ong said the FundMyHome platform, which provides an alternative form of financing for first-time homebuyers, will not lead to a subprime crisis and would in fact have the reverse effect. At a media question and answer session earlier today, Tong…
With Malaysia’s median household income of RM5,228 in 2016, RM188,208 should be the maximum affordable house price, when utilising Demographia International’s Median Multiple (MM) method in which homes are considered affordable only if it is less than three times the household median annual income. This is a level which Malaysia…
KUALA LUMPUR — The stamp duty waiver on the instrument of transfer for first time home buyers announced in Budget 2019 will provide a boost to the current slow housing market, said Knight Frank Malaysia managing director Sarkunan Subramaniam. “The exemptions and initiatives, in particular the waiver of stamp duty…
It is believed that Najib Razak signed several unfair agreements with Singapore’s Lee Hsien Loong, like building the Singapore-Malaysia High Speed Rail when the country was in a trillion RM debt and a grossly under-priced water sale agreement, in exchange for Singapore banks’ assistance in money laundering 1MDB’s billions. If…
