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New developments to share

wuqi256

Moderator - JB Section
Loyal
OIC...so technically I can still sell landed below 2m to a Sdn Bhd set up by foreign shareholders ?

If your company only has a single property, then you are transferring shares of ownership, not selling the property in the case of giving the property to your next generation.

The only thing is if you are selling to a third party, you can do the transfer of shares but the challenge is for them to raise the money since banks will not lend for taking over companies. Also, when purchasing properties, banks will not typically loan to companies which are less than 3 years old or does not have annual turnovers, etc in order to secure a loan. Either that or the loan quantum will be lower than standard so have to fork out more cash.

These are just some ways for workaround, again i am not the expert. There are many experts around so do your own due diligence.
 

wuqi256

Moderator - JB Section
Loyal
Dicey I think, best to consult lawyers. But I think the lawyers themselves are still waiting for more clarity on this. Golden rule: The safest bet is to buy for own use.

Second that on the buy for own use rule. I have always followed that, now alas for certain properties my only regret was not buying more back then. Even for industrial, everyone who went in back then are in good shape.

Thinking back then, out of the circle around me, for every 10, 10 were saying no at that time. I just followed what i felt was right and thankfully did not lead them to "holland" but we got really lucky i guess.
 
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wuqi256

Moderator - JB Section
Loyal
On the part of companies, please note that holding shares in trust (holding the shares on behalf of another) is not legal in Malaysia even though some will still recommend it or in some cases still (widely) practice it with an undated resignation letter from this majority shareholder.
 

wuqi256

Moderator - JB Section
Loyal
Always remember, my 2 cents and worthless translation to the common term used in China.

上有政策下有对策 - For every proposed motion, there is an equal or equivalent solution.
消息解策真假不策 - Information should always be well deciphered or else suffer (if the news are false)
(My own addition)
 

malpaso

Alfrescian
Loyal
Sultan Ibrahim said the Federal Government's proposal for the ceiling price of properties for foreign buyers to be set at RM1 million was not suitable for Johor.
"It may be suitable for Kuala Lumpur but not Johor. The RM500,000 ceiling price for strata-title properties or condominiums may be acceptable, but for landed properties, the ceiling price should be RM2 million."
He said he supported the proposal to have an international housing zone to curb rising prices on properties outside the zone.
"The government should be strict with developers regarding the construction of low-cost and medium-cost housing, and developers who do not observe the ruling should be blacklisted and their building plans not approved in the future."
Sultan Ibrahim said Johor was different from other states because of its proximity to Singapore, which is a developed country.
"Johor and Singapore have forged strong ties as we depend on one another. As such, the Federal Government has to consult the Johor government on all matters regarding foreign affairs, especially those concerning Johor and Singapore."

http://www.nst.com.my/nation/general/standardise-johor-s-rest-days-1.607963

that's why i wondered if strata titled landed property (leisure farm, SEC, eco spring) fall under the lower bracket . heh heh. :p
 

malpaso

Alfrescian
Loyal
Going by SG definition of landed, I would say 'Yes'. If not, all developers will be launching 'strata-titled landed' liao, which defeats the purpose of the 2m rule.
.

got a chance to check your earlier post. as far as SG is concerned, up till mid 2012, foreigner could buy strata landed homes. URA stopped it in 2012. projects complted or greenlit before the new ruling, older rules still apply.

http://www.stproperty.sg/articles-p.../tougher-rules-on-strata-landed-homes/a/60044
 

jasonjst

Alfrescian
Loyal
Hi Jason, sell to locals, or wait for the value to go up to 2m and then sell. Another alternative is to put it into a company and transfer the shares to kids next time.
Some whose houses like semi-d or bungalows are already above 2m will still just continue.

All this is doing is the state consent etc and some bank loans will just get progressively harder to get.

) Can we just made a will to gift to children ?
 

wuqi256

Moderator - JB Section
Loyal
) Can we just made a will to gift to children ?

Locals have a single time free pass to pass it on without using a will and of course while they are still alive.
To prepare for that eventuality, (we will all die someday and get off this train) yes you can make a will and
it will be passed down to them.

Sayonara Itsuka
 

Funniman

Alfrescian
Loyal
) Can we just made a will to gift to children ?

One can transfer his property to his spouse through "Act of Love" clause and you do not need to pay stamp duty.

For residential properties held in trust companies, it is ok if it is transferred through family lines and not readily for resale. How ever, it is advisible to have a single company for a single property. Only problem is you need to file tax forms every year for that company and would incur accounting expenses yearly. For industrial properties, it is recommended that companies are used to buy properties since buyers are usually business entities, commercial loans are not a big problem.

One has to be aware the rate of estate duty especially if one die within 5 years from the date of purchase of the property. I believed it is 5% of the current valuation during the time of passing. In UK is even more higher. It is 40% irregardless of timing of passing on. But that is a totally different subject altogether.
 

Organic

Alfrescian
Loyal
Just a thinker about Malaysia State Consent for Singaporean, it's better for not throwing away your expired passport as the State Consent may state only your passport number.
 

Valdez

Alfrescian
Loyal
Something is brewing. Soon cannot buy landed properties in johor.

Protecting Johor's sovereignty


PRIORITY: Economic activities and foreign investments in the state should ultimately benefit its people

"ALLOW me on behalf of the people of Kempas to express our gratitude for the opportunity to take part in the debate on the motion of thanks for His Royal Highness' Royal Address delivered at the Sultan Ibrahim Building recently.

I listened with great concern the Royal Address by His Royal Highness The Sultan. It is evident that His Royal Highness Sultan Ibrahim Sultan Iskandar is sensitive to the situation in the country, particularly in the state of Johor Darul Taqzim.

As citizens of Johor, we continue to place our loyalty to His Royal Highness The Sultan.

In all sincerity, I represent the people of Kempas in commending the menteri besar for his pledge and promise to not allow the development of gambling dens in the form of casinos anywhere in Johor.

As citizens of Johor, we feel relieved and very grateful for having a menteri besar who has a strong enough will to not allow any evil elements to set foot in the state.

Nevertheless, it is our hope that the pledge by the menteri besar is realised in its entirety, applying not only to full-scale casinos, but also to any and all gambling activities, including but not limited to "slot machines" that are still found in many premises across Johor, including in shop houses. We hope that all of these gambling activities are eradicated without any exemptions, irrespective of whether they are run by illegal small-time operators or indeed by any of the big-time businessmen, who may have already gained a foothold in Johor, and having already obtained their gambling licences from the Federal Government, may feel confident of getting the necessary approvals from the district office in order to operate in Johor.

My worry stemmed from the fact that of late, Johor is seen as a destination by several licensed gambling bosses who mask their real intentions behind the veil of a real estate investment. If we are not alert, there is the possibility that they would include gambling dens within their respective establishments, which are already licensed to sell liquor.

We cannot allow even licensed slot machines to be operated at these establishments just because they already sell liquor. And, we cannot approve the permits and attribute our sins to the Federal Government just because these gambling licences are issued by them. We need not be reminded that without the granting of approvals by the relevant district office, these gambling operators cannot be deemed to be operating legally within our state, notwithstanding the licences that they may have obtained from the Federal Government.

Our righteous efforts to empower Islam in the state, by changing our off days to Friday, will be in vain if we give the gambling bosses the nod for them to launch their empires here.

It is not my intention to question the pledge given by the menteri besar, but at times, there is a need for us to give friendly reminders to each other.

I suggest that as we promise to insulate Johor from any form of gambling elements, which may be brought in by investors from outside Johor in the name of development, we must ensure that all economic activities are shared equally and are acceptable to all.

The wealth in Johor should be enjoyed by the citizens, especially those who have given their trust and support to the Barisan Nasional government through the generations. The loyalty, obedience and the pureness of heart of Johoreans should not be forsaken as we entertain foreigners in the hope of attracting foreign investment.

While we welcome foreign investments into Johor, we should be wise enough to assess the merits of these investments. The key questions that must be answered are whether the investments can benefit Johor and Johoreans in terms of job creation and employment, business opportunities for the local small- and medium-sized enterprises, joint ventures in the support services sector with local companies, technology transfer and so on.

The sale of land to foreign investors does not add any value whether directly or indirectly to the people of Johor. Instead, it only benefits the individuals partaking in the said transactions and would result in the migration of the less fortunate citizens to the rural and remote areas as the cost of living in the city will definitely rise. Furthermore, there would certainly be a clash of cultures between the locals and the foreigners, if the latter intends to flood the affected areas and the city.

I read recently from the local and foreign news reports about the existence of a foreign power in the state.

A foreign news website had published that a business magnate from a neighbouring country had signed a memorandum of understanding with a local party in Johor to establish a security company in the Iskandar Development Region.

The company belonging to the foreign billionaire is also said to be eyeing the opportunity to widen its network to not only provide 600 well-armed security guards but also to create cutting-edge security equipment, including intelligence systems. This billionaire's security team, which equates to almost a battalion of soldiers, will be stationed in the Iskandar Development Region, if he is successful in securing the contract.

To my understanding, the report also stated that the said billionaire is expected to secure the contract to supply personnel and security systems and equipment in Penang and Kuala Lumpur under the guise of an intellectual partnership. Think about it, the Iskandar region, Penang and Kuala Lumpur are three of the most strategic regions in our country, and this could open us up to international sabotage activities.

And, if it is true as reported, this means that Johor will no longer be the country's main bastion. Instead, Johor may ironically serve to be the most important bridge for that foreign country to widen its regional network.

If we approve the implementation of this foreign-controlled security system together with its horde of security guards, can the government guarantee that every state secret is fully-protected? Can the authorities in charge of national sovereignty and security ensure our state of preparedness for any eventuality?

Let us not continue to stand aside and allow politicking and mismanagement to jeopardise the future of our people and nation, when we still have the opportunity to act. It is still not too late. Insh’Allah.

Kempas upholds His Royal Highness The Sultan’s Royal Address on Pulau Batu Puteh. We lost our sovereignty over Pulau Batu Puteh, now known as “Pedra Branca”, to Singapore when the Attorney-General’s “learned and wise” team lost the hearing at the International Court of Justice in The Hague.

If Pulau Batu Puteh (which has a physical form) can escape from our hands, (and we now have to work to win it back, Insh’Allah), we may not even be aware when we lose part or all of the sovereignty of our country because intelligence is not an enemy, which has a physical manifestation. Are we prepared to lose once again a big part of the sovereignty of our state?

Would we want to gamble away the independence that we have savoured all these years, by possibly giving our government’s secrets away to a foreign national who has no allegiance to our country, and compromising on the privacy of the people of Johor? May Allah Forbid!

If it happens, then no creation of God on the face of this earth can ever restore it, because according to the purpose of this decree by Allah, “Verily never will Allah change the condition of a people until they change their own destiny”.

As such, we must seek first to protect the security of our country by ourselves, before leaving our destiny fully in the hands of God.

Based on our myriad experiences and many controversies, could we simply plead ignorance and remain passive, now that we are aware of the possibility that this foreign billionaire has already signed the aforementioned memorandum of understanding with the local party?

In the robustness of real estate development and other investments in Johor, especially in my constituency of Kempas, I appeal for the honesty, steadfastness and sincerity of the administration of the menteri besar to not allow any party to cause the people of Johor, especially those of Kempas, to shed any more tears of regret.

Indeed, when we chant the state’s slogan “Luaskan Kuasamu”, which has already become our sacred mantra, it is our duty to ensure that the state’s slogan applies exclusively and specifically to the people of this state. It should never be construed as an open invitation to any foreigner wanting to expand their power on Johor soil.

Kempas prays that the citizens of Johor are not merely victorious in their loud war cries, while our state slowly slips into foreign hands. May God Forbid!
 

avtar

Alfrescian
Loyal
Hello,

there is this quite new and really reasonably priced condo in Iskandar called Botanika. I recently bought. has full condo facilities and good water view. Compared to other condos in Iskandar, this one i feel like it's the best!

i came across this website and was very keen on it. http://sandykwanproperty.com

Can check it out, has a lot of details of Botanika! :smile:
Which unit you buy, size, level & price??
 

RedsYNWA

Alfrescian
Loyal
The Kempas MP on one hand pledges his loyalty to His Highness, and on the other hand, thinks that his proposed security company with Peter Lim is a bad idea?? haha...
 

malpaso

Alfrescian
Loyal
Something is brewing. Soon cannot buy landed properties in johor.

can post link to actual article where this transcript was taken?
frankly , these kind of rhetoric is nothing new, going on for years. perhaps rakyat feeling slightly more threatened these days.
i wouldn't be surprised if one day, there will be no pork, no alcohol, no 34,4d,toto, no bars except in hotels.
 

Valdez

Alfrescian
Loyal
Oh oh here it comes again. Flip flopping
Johor to go ahead with tabling of housing bill

JOHOR BARU: The Johor state government will continue to table the controversial Johor Housing and Real Property Enactment Board Bill 2014 despite strong concern over the matter.

Mentri Besar Datuk Mohamed Khaled Nordin said on Saturday that the Bill is in line with the Federal Constitution and the Undang-Undang Tubuh Kerajaan Negeri.

He pointed out that under the Bill, the Mentri Besar will head the Johor Housing and Realty Property Board (JHRPB) while the board’s members would include the state housing exco and the state Economic Planning Unit director.

“These appointments cannot be changed even by the Sultan and the board will advise the Ruler about housing matters in Johor.

“The main objectives of the JHRPB is to ensure there are enough affordable homes for the rakyat here,” he said when met after attending a cycling program at Permas Jaya here.

The Bill is expected to be table at the state assembly sitting on Monday.

It has been reported that the Bill would empower the Sultan to appoint JHRPB members, oversee its accounts and also dissolve the board.

It is learnt that Sultan Ibrahim ibni Almarhum Sultan Iskandar would also be able to determine the remuneration of board members, approve the appointment of a director and pass the estimated expenses for each following year before seeking the state government’s approval for the allocations.

Both sides of the political divide have expressed concern over the Bill, with both Barisan Nasional and Pakatan Rakyat assemblymen saying there would be a clear conflict of interest as the Johor Ruler was involved in business including property development.
 

Funniman

Alfrescian
Loyal
Try to stay in nearby Bayu Marina Resort for a few days, before you decide .

And I believe this project may not be FH.

I stay in Bayu Marina for a couple of days before. Riverview is there but water very muddy and lots of rubbish. The other side facing the golf resort, stagnant sea tide. Water hardly moving. And the traffic jam at EDL is just challenging. But the price may be lower.
 

Investor

Alfrescian (Inf)
Asset
Many developments to see at PropertyGuru's Malaysia Property Show 2014 at MBS.

I went there today. Iskandar property market has HEATED up again. This time(unlike the last round where most buyers were middle age ones) there are many young couples with small kids, well dressed single young ladies who went with lady friends, young and trendy gay-looking guys looking around for a property in Iskandar! Many buyers from the new generation now.

10411752_10152270654319667_4563423590483510228_n.jpg

10258357_10152270653979667_5578694236418026559_o.jpg

10359173_10152270654184667_7989988205573051505_n.jpg

10453348_10152270654089667_3222866798151249778_n.jpg
 
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