News about Budget 2020

PETALING JAYA (October 11): Master Builders Association of Malaysia (MBAM) president Foo Chek Lee believes that the infrastructure projects proposed under Budget 2020 which was tabled in Parliament today will help the construction industry and stimulate the growth of about 140 downstream industries.

PETALING JAYA (October 11): The price of properties in Penang will rise if the foreign buying threshold in the state is lowered, said Henry Butcher Malaysia (Penang) Asset Valuation executive vice-president for asset valuation Shawn Ong believes that  The Malaysian government announced a proposal in Budget 2020 to lower the foreign buying threshold for condominiums and apartments in urban areas from RM1 million to RM600,000 in 2020.

PETALING JAYA (OCT 11): Property developer Mah Sing Group Bhd is hoping that the government will consider continuous improvements to the Real Property Gains Tax (RPGT) policy to boost property market activity.

  PETALING JAYA (Oct 11): It is a very “low-profile” budget overall, observes the Institute for Democracy and Economic Affairs (IDEAS) senior fellow Dr Carmelo Ferlito.

KUALA LUMPUR (Oct 11): The federal government plans to proceed with the Rapid Transit System (RTS) between Johor Bahru and Singapore to solve the long-standing traffic congestion on the Causeway.

  PETALING JAYA (Oct 11): Real estate consultancy CBRE-WTW Managing Director Foo Gee Jen has mixed feelings over the government’s proposal to lower the foreign buying threshold for condominiums and apartments in urban areas from RM1million to RM600,000 in 2020.

  PETALING JAYA (OCT 11): Although encouraged by some of the government’s Budget 2020 announcements today that focus on stimulating the property market, the Malaysian Institute of Estate Agents’ (MIEA) immediate past president Eric Lim said overall, Budget 2020 was “slightly below his expectations”.

  KUALA LUMPUR (Oct 11): Finance Minister Lim Guan Eng said the Cabinet has approved the takeover of four highways in the Klang Valley, namely the Shah Alam Highway (KESAS), Damansara-Puchong Highway (LDP), Sprint Highway and the SMART Tunnel.

KUALA LUMPUR (Oct 11): The government has proposed to continue developing the currently on-hold Bandar Malaysia project (pictured), after having negotiated for better terms.

PETALING JAYA (Oct 11): The government will revise the real property gains tax (RPGT) imposed on the disposal of properties after a five-year period, by individual citizens and permanent residents.