#Budget 2010:* Positive news for Mah Sing Group

KUALA LUMPUR: The government’s effort in promoting green technology and waiver of stamp duty for buyers of Green Building Index (GBI), a green rating index, certified properties will further spur the demand for environmentally friendly projects in Malaysia, said Tan Sri Leong Hoy Kum, group managing director, Mah Sing Group Bhd in a press statement released Oct 23. Prime Minister Datuk Seri Najib Tun Razak announced the proposal in the 2010 budget.

Mah Sing Group is already incorporating eco-friendly features in its properties and the tax rebate equivalent to the cost of obtaining GBI certification is a big incentive for the company to obtain the certification, said Leong.

With a new scheme enabling EPF contributors to use current and future savings in Account 2 to purchase higher value or additional houses, Leong is confident that this will increase the affordability of many type of homes as it enables buyers to obtain higher financing for their properties. “We believe we shall see significant increase in take up for our medium- to high-end homes in our Legenda, Residence and Perdana series, as many of our target buyers are active contributors to the EPF,” said Leong.

Another project of Mah Sing’s, The Garden Residence in Cyberjaya will also reap the benefits of the proposed development of Cyberjaya as a pioneer township in green technology.

“The government has been proactive in providing a conducive and streamlined business environment, and we are very pleased that local authorities will now expedite the issuance of Development Orders. The success of the Mah Sing’s business strategy rest upon the group’s ability to effect a fast-turnaround for our projects and offer properties that meet market needs.  This news is certainly a big positive for our business operations,” said Leong.

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