Yes yes, me bad.....its ANY property of one's choice, not the first one.... But I guess it makes sense to quickly use this privilege, in case the laws change again. hehe...
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New developments to share
- Thread starter wuqi256
- Start date
Yes yes, me bad.....its ANY property of one's choice, not the first one.... But I guess it makes sense to quickly use this privilege, in case the laws change again. hehe...
if i'm buying a few props, i would choose to waive off the one wth the largest cap gains..kaka
Wow......a few properties..... me small fry only, so dont have that luxury.... This RPGT could be a dampener to short-term sentiment, but LT should still be ok...
Locals get a lot of benefits. First timers get 90 to 100% loan. They get extremely low interest rates. They can take from their EPF (similar to CPF) and use it as downpayment. And when they sell the property, no need to pay back to EPF.
By the way, there's another way of determining RGPT's date. Apart from SPA, there's another legally binding document called CPC (Certificate of Practical Completion) and also Certificate of Fitness which is issued by the local council. Worth the while to check it out. Sorry guys, I had never sold a property b4. I just keep.
http://hartamas.com/page/view/real-property-gain-tax-rpgt
Not sure if the info in the link is accurate.......happy reading!
Looks like Malaysia heading to bankruptcy soon. Civil order will break down and the ringgit will become toilet paper
Gov't may defer RM86.35b worth of projects
Sep 5, 2013 - PropertyGuru.com.my
HLIB Research estimates that around RM86.35 billion worth of planned rail and construction projects are set to be delayed or shelved altogether, following the government's decision to reschedule projects with heavy public sector participation.
However, the figure excludes two mega projects – the 2,000-megawatt coal-fired plant, which cost around RM10 billion to build, and Petroliam Nasional Bhd's RM62.7 billion refinery and petrochemical integrated development project in Pengerang, Johor.
“Despite the government playing a less prominent role in the construction landscape, a deferment in rollout of key projects will still affect investors' sentiment,” said HLIB, which downgraded its call on the construction industry from “overweight” to “neutral”.
Notably, the Fiscal Policy Committee (FPC) has earlier announced the review of public sector projects, with priority on those with high-multiplier effects and low-import content, while projects with high-import components will be sequenced. This comes amid government efforts to bolster shrinking account surplus and narrow fiscal deficit gap.
The government's current fiscal constraints may affect its decision on the proposed high-speed train link between Kuala Lumpur and Singapore, noted HLIB.
Meanwhile, other rail projects under scrutiny includes the RM7 billion Gemas-Johor Bahru electrified double-tracking project, the LRT Shah Alam Extension (RM6 billion), the Serendah-Port Klang-Seremban Freight Line (RM2 billion), the Klang Valley Distribution Terminal (KVDT) upgrade (RM850 million), Phase 1 of the East Coast Rail Line (RM12 billion) and the RM1.5 billion Subang Skypark rail link.
Building projects that are considered uncertain at this point in time include the Tun Razak Exchange (RM26 billion), Phase 1 of the KL Metropolis (RM16 billion) and Menara Warisan (RM5 billion).
Gov't may defer RM86.35b worth of projects
Sep 5, 2013 - PropertyGuru.com.my
HLIB Research estimates that around RM86.35 billion worth of planned rail and construction projects are set to be delayed or shelved altogether, following the government's decision to reschedule projects with heavy public sector participation.
However, the figure excludes two mega projects – the 2,000-megawatt coal-fired plant, which cost around RM10 billion to build, and Petroliam Nasional Bhd's RM62.7 billion refinery and petrochemical integrated development project in Pengerang, Johor.
“Despite the government playing a less prominent role in the construction landscape, a deferment in rollout of key projects will still affect investors' sentiment,” said HLIB, which downgraded its call on the construction industry from “overweight” to “neutral”.
Notably, the Fiscal Policy Committee (FPC) has earlier announced the review of public sector projects, with priority on those with high-multiplier effects and low-import content, while projects with high-import components will be sequenced. This comes amid government efforts to bolster shrinking account surplus and narrow fiscal deficit gap.
The government's current fiscal constraints may affect its decision on the proposed high-speed train link between Kuala Lumpur and Singapore, noted HLIB.
Meanwhile, other rail projects under scrutiny includes the RM7 billion Gemas-Johor Bahru electrified double-tracking project, the LRT Shah Alam Extension (RM6 billion), the Serendah-Port Klang-Seremban Freight Line (RM2 billion), the Klang Valley Distribution Terminal (KVDT) upgrade (RM850 million), Phase 1 of the East Coast Rail Line (RM12 billion) and the RM1.5 billion Subang Skypark rail link.
Building projects that are considered uncertain at this point in time include the Tun Razak Exchange (RM26 billion), Phase 1 of the KL Metropolis (RM16 billion) and Menara Warisan (RM5 billion).
hey, dun scare me leh...not so serious lah...
I think it is good to weed out speculators...those who buy plenty property without coming out much capital, and then hoping that they can flip before they need to pay the bulk. Remove these to prevent property crash in future.
Anyway, I feel the RGPT not very hurting for those real investors. It's typically 2-3 years past purchase date when you take over the property. Spend another 1-2 years as holiday home before you sell loh. Probably better price if you wait till 2018 & beyond.
Loan amount restriction & stamp duty applies for 3rd property & above .....also not too great impact for normal investors.
If the market now is full of speculators, then prices may come down.
This might be good....if not the crash would be worst in future.
Apparently the demand from Singapore is so good that Legoland is opening in Singapore too but in another form for kids.
Legoland owner to develop KidZania Singapore
BY JASMINE NG [email protected]
PUBLISHED SEPTEMBER 06, 2013
[SINGAPORE] Malaysia's Themed Attractions and Resorts - owner of Legoland and Sanrio Hello Kitty Town in the country - is launching its first overseas theme park, KidZania Singapore, to tap rising travel demand in the region.
It has partnered Maybank, Discovery Networks Asia-Pacific, Yakult, Canon and The Soup Spoon to set up five establishments in KidZania - an indoor theme park where children can pretend to be surgeons, pilots, runway models, journalists, chefs, firemen and many other professions.
"This is our first overseas venture. It will probably be the only one for some time," managing director Tunku Ahmad Burhanuddin told BT in an interview. The company, a subsidiary of Malaysia's state investment company Khazanah Nasional, owns the KidZania franchise in Kuala Lumpur.
Expanding into Singapore is a "logical choice" given the cooperation between the two countries in Iskandar Malaysia, as well as Singapore's central location in Asean, making it a tourism hub.
Unlike other theme parks, KidZania will not have any rides. Instead, it will partner companies in different industries to create miniature cities where children "work" in some 60 "pretend" businesses, from hospitals to fire stations and bottling plants to courier services. The $90 million Singapore theme park franchise will span 7,600 square metres at Palawan Beach on Sentosa.
Two-thirds of the visitors are expected to be Singaporeans, one-third foreigners.
Themed Attractions plans to secure 30 more partners from a mix of local and international brands before the park's opening in early 2015. There can be only one partner representing each industry. "Industry partners are a cornerstone of KidZania. They bring a sense of realism and local flavour to the theme park," Mr Burhanuddin said.
KidZania has a presence in about 13 markets globally. Each KidZania location offers experiences customised to a particular region and culture in food, entertainment and professions.
Mr Burhanuddin is not concerned about the potential rivalry between Singapore and KL as each theme park targets visitors from the respective markets by teaming up with local partners. For instance, Singapore will feature local brands like The Soup Spoon and traditional coffeehouse Killiney. Malaysia's partners include AirAsia and fast- food chain Marrybrown.
"We actually see (the two parks) as complementary . . . The more attractions we have in this area, the better - because there will be a lot more people coming into this region. We complement and supplement each other in one way or another," he said.
South-east Asia is becoming home to a growing number of major theme parks as the region's wealth and leisure time grow. Last year alone, Themed Attractions opened four theme parks. Legoland Malaysia was the most successful launch of the six Legoland parks dotted across the world, with more than one million visitors in the first month.
The amusement park will add a series of new attractions this year amid rising competition in Asia. Planned additions include a hotel and the world's largest Legoland waterpark spanning over three million square feet, Mr Burhanuddin said.
http://www.businesstimes.com.sg/pre...and-owner-develop-kidzania-singapore-20130906
Legoland owner to develop KidZania Singapore
BY JASMINE NG [email protected]
PUBLISHED SEPTEMBER 06, 2013
[SINGAPORE] Malaysia's Themed Attractions and Resorts - owner of Legoland and Sanrio Hello Kitty Town in the country - is launching its first overseas theme park, KidZania Singapore, to tap rising travel demand in the region.
It has partnered Maybank, Discovery Networks Asia-Pacific, Yakult, Canon and The Soup Spoon to set up five establishments in KidZania - an indoor theme park where children can pretend to be surgeons, pilots, runway models, journalists, chefs, firemen and many other professions.
"This is our first overseas venture. It will probably be the only one for some time," managing director Tunku Ahmad Burhanuddin told BT in an interview. The company, a subsidiary of Malaysia's state investment company Khazanah Nasional, owns the KidZania franchise in Kuala Lumpur.
Expanding into Singapore is a "logical choice" given the cooperation between the two countries in Iskandar Malaysia, as well as Singapore's central location in Asean, making it a tourism hub.
Unlike other theme parks, KidZania will not have any rides. Instead, it will partner companies in different industries to create miniature cities where children "work" in some 60 "pretend" businesses, from hospitals to fire stations and bottling plants to courier services. The $90 million Singapore theme park franchise will span 7,600 square metres at Palawan Beach on Sentosa.
Two-thirds of the visitors are expected to be Singaporeans, one-third foreigners.
Themed Attractions plans to secure 30 more partners from a mix of local and international brands before the park's opening in early 2015. There can be only one partner representing each industry. "Industry partners are a cornerstone of KidZania. They bring a sense of realism and local flavour to the theme park," Mr Burhanuddin said.
KidZania has a presence in about 13 markets globally. Each KidZania location offers experiences customised to a particular region and culture in food, entertainment and professions.
Mr Burhanuddin is not concerned about the potential rivalry between Singapore and KL as each theme park targets visitors from the respective markets by teaming up with local partners. For instance, Singapore will feature local brands like The Soup Spoon and traditional coffeehouse Killiney. Malaysia's partners include AirAsia and fast- food chain Marrybrown.
"We actually see (the two parks) as complementary . . . The more attractions we have in this area, the better - because there will be a lot more people coming into this region. We complement and supplement each other in one way or another," he said.
South-east Asia is becoming home to a growing number of major theme parks as the region's wealth and leisure time grow. Last year alone, Themed Attractions opened four theme parks. Legoland Malaysia was the most successful launch of the six Legoland parks dotted across the world, with more than one million visitors in the first month.
The amusement park will add a series of new attractions this year amid rising competition in Asia. Planned additions include a hotel and the world's largest Legoland waterpark spanning over three million square feet, Mr Burhanuddin said.
http://www.businesstimes.com.sg/pre...and-owner-develop-kidzania-singapore-20130906
MDIS breaks ground for Iskandar campus
Five times bigger than its S'pore campus, the facility aims to take in first batch of 2,000 students in 2015
BY MALMINDERJIT SINGH [email protected]
PUBLISHED SEPTEMBER 06, 2013
THE Management Development Institute of Singapore (MDIS) yesterday officially launched its $116 million Iskandar Malaysia campus.
Malaysian Deputy Prime Minister and Education Minister Muhyiddin Yassin officiated the ground-breaking ceremony of the 12-hectare freehold site, located in the Iskandar region's education centre, EduCity.
MDIS' Iskandar campus, which is five times the size of its Singapore campus at Stirling Road, aims to take in 2,000 students when the first phase of development is completed in 2015. It will expand its enrolment to 10,000 when all the three phases of development are completed by 2023.
MDIS secretary-general R Theyvendran said that the institute hoped to tap the demand for higher education in Malaysia and the region in general. He also added that the school has already noticed a growing interest among Muslims from around the world "as they are more comfortable with the culture in Malaysia", as well as students from Africa and the Middle East.
Meanwhile, MDIS Malaysia will begin lessons at its city campus in the Johor Bahru City Square at the end of this month. It will offer diplomas in business management and mass communication when the term begins on Sept 30.
Although MDIS aims to enrol a total of 100 students for both these courses, it has attracted only 20 so far because it could start marketing the courses just two weeks ago as it had to wait for fire safety and other certifications.
The school is confident that it will be able to hit this number and believes yesterday's official launch will create enough publicity to get the numbers. However, the school will still proceed with operations as it needs an enrolment of only 15 students to break even, its Malaysia project director A Subramaniam told BT.
The school will have two more intakes, in January and April next year, as it intends to roll out nine diploma programmes in addition to a certificate course in English, and increase its enrolment to 300 students.
At yesterday's ceremony, MDIS also announced a RM1.2 million (S$463,800) merit-based scholarship scheme for 150 Malaysian students.
http://www.businesstimes.com.sg/premium/singapore/mdis-breaks-ground-iskandar-campus-20130906
Five times bigger than its S'pore campus, the facility aims to take in first batch of 2,000 students in 2015
BY MALMINDERJIT SINGH [email protected]
PUBLISHED SEPTEMBER 06, 2013
THE Management Development Institute of Singapore (MDIS) yesterday officially launched its $116 million Iskandar Malaysia campus.
Malaysian Deputy Prime Minister and Education Minister Muhyiddin Yassin officiated the ground-breaking ceremony of the 12-hectare freehold site, located in the Iskandar region's education centre, EduCity.
MDIS' Iskandar campus, which is five times the size of its Singapore campus at Stirling Road, aims to take in 2,000 students when the first phase of development is completed in 2015. It will expand its enrolment to 10,000 when all the three phases of development are completed by 2023.
MDIS secretary-general R Theyvendran said that the institute hoped to tap the demand for higher education in Malaysia and the region in general. He also added that the school has already noticed a growing interest among Muslims from around the world "as they are more comfortable with the culture in Malaysia", as well as students from Africa and the Middle East.
Meanwhile, MDIS Malaysia will begin lessons at its city campus in the Johor Bahru City Square at the end of this month. It will offer diplomas in business management and mass communication when the term begins on Sept 30.
Although MDIS aims to enrol a total of 100 students for both these courses, it has attracted only 20 so far because it could start marketing the courses just two weeks ago as it had to wait for fire safety and other certifications.
The school is confident that it will be able to hit this number and believes yesterday's official launch will create enough publicity to get the numbers. However, the school will still proceed with operations as it needs an enrolment of only 15 students to break even, its Malaysia project director A Subramaniam told BT.
The school will have two more intakes, in January and April next year, as it intends to roll out nine diploma programmes in addition to a certificate course in English, and increase its enrolment to 300 students.
At yesterday's ceremony, MDIS also announced a RM1.2 million (S$463,800) merit-based scholarship scheme for 150 Malaysian students.
http://www.businesstimes.com.sg/premium/singapore/mdis-breaks-ground-iskandar-campus-20130906
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The students are definitely not going to travel in and out of Spore on a daily basis.
Which means rentals of the properties is going to be in demand.
Which means rentals of the properties is going to be in demand.
sis replied, SPA date. she was a conveyancing lawyer a while back (practiced in m'sia).
I saw 2 units in Molek Grove today. This unit is tenanted to Ang Mo renovated with very high end furnishings, that's why can command the high rental; 60 inch TV, Dishwasher (hardly heard of in MY), fully airconditioned, the works. Owner is asking for 900k. Another unit, not furnished but renovated is going for RM780k. The rental can cover the installment gao gao.
Great work...
If it is SPA date, then no problems. A condo normally take 42 months to complete and by the time it is handed over, it is about 48 mths.
The RGPT would be very low.
Saw ads for many launches these few days... like 8scape at Sutera, D'Secret Garden at Kempas and D'Inspire Residence at Nusa Bestari / Bukit Indah. I guess developers are pushing out projects before the new RPGT changes take effect. Wonder if people will still buy now?
Goo to the property guru Malaysia fair at orchard hotel and you will know if it is still hot.
Cash over valuation will be v high for these 2 properties. At least RM 100K for the RM 900K unit? My limited knowledge of valuation is that the valuers do not really take reno works into account. They just hatam a no. only. While they will subject the build-up to depreciation..... What is the built-up?
Besides the cash over valuation, you should also set aside RM 35k-40k for legal/loan fees, including stamp duties. Location is superb though, just next to 'Little Japan' town, and land size is gd at 24 x 80.
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I havent heard of any announcement, has it been made or is it just a rumour still?
Will know for sure after October when the "Cabinet" is announced.
‘Higher RPGT will not work
Your window to Malaysia
Saturday, 7 September 2013
by Lam Jian Wyn of The Edge Malaysia on Thursday, 05 September 2013 16:00
KUALA LUMPUR: Imposing higher real property gains tax (RPGT) will not be effective in arresting rising property prices, say industry players.
Urban Wellbeing, Housing and Local Government Minister Datuk Abdul Rahman Dahlan said on Tuesday that his ministry is studying the imposition of a higher RPGT next year to stabilise housing prices.
Currently, an RPGT of 15% is imposed on properties sold within two years of ownership and 10% if sold within three to five years. Properties sold after five years are exempt.
"Politically, the government needs to be seen as doing something about property prices. The RPGT is a good hint to speculators that the government plans to cool the property market, without affecting genuine homeowners," said DTZ Malaysia director Eddy Wong.
"Singapore has so far imposed eight rounds of cooling measures. It can mean that the previous seven rounds did not quite achieve the intended effect and that's why there is an eighth round. But this time, the Real Estate Development Association of Singapore is saying the Singapore property market is approaching 'inflexion point', so perhaps this time it will work?
"Two of the fundamental drivers of property prices are a growing young population who are setting up their own households and income growth. Some people may speculate, but so long as these drivers are there, prices will go up," he said.
Your window to Malaysia
Saturday, 7 September 2013
by Lam Jian Wyn of The Edge Malaysia on Thursday, 05 September 2013 16:00
KUALA LUMPUR: Imposing higher real property gains tax (RPGT) will not be effective in arresting rising property prices, say industry players.
Urban Wellbeing, Housing and Local Government Minister Datuk Abdul Rahman Dahlan said on Tuesday that his ministry is studying the imposition of a higher RPGT next year to stabilise housing prices.
Currently, an RPGT of 15% is imposed on properties sold within two years of ownership and 10% if sold within three to five years. Properties sold after five years are exempt.
"Politically, the government needs to be seen as doing something about property prices. The RPGT is a good hint to speculators that the government plans to cool the property market, without affecting genuine homeowners," said DTZ Malaysia director Eddy Wong.
"Singapore has so far imposed eight rounds of cooling measures. It can mean that the previous seven rounds did not quite achieve the intended effect and that's why there is an eighth round. But this time, the Real Estate Development Association of Singapore is saying the Singapore property market is approaching 'inflexion point', so perhaps this time it will work?
"Two of the fundamental drivers of property prices are a growing young population who are setting up their own households and income growth. Some people may speculate, but so long as these drivers are there, prices will go up," he said.
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