News about Budget

To ensure sustainable growth of the construction industry, MBAM president Oliver Wee Hiang Chyn hopes the government will use its development budget to boost the adoption of the Industrialised Building System (IBS) and implement planned public projects, such as affordable housing.

We crucially need a system to establish the ratio of annual income to house price at 1:3 at the most and not 1:6 as it is now.

KUALA LUMPUR (Nov 19): The Cabinet has received and discussed an application from former prime minister Datuk Seri Najib Razak for a plot of land and house allegedly valued at RM100 million, Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz was reported as confirming in Parliament on Thursday (Nov 18).

KUALA LUMPUR (Nov 8): Malaysia is among the 10 countries in the world which have fully aligned their national budgets to the sustainable development goals (SDGs) based on the United Nations assessments, said Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz.

KUALA LUMPUR (Nov 2): DBS Bank said Malaysia’s economy is starting to recover gradually from the Covid-19 crisis following a tumultuous 2020 and 2021, but is maintaining its growth forecasts of 4% for 2021 and 5% for 2022.

KUALA LUMPUR (Nov 2): Panelists at the Malaysian Economic Association (MEA) 2022 Post-Budget Dialogue were mooting for the reinstatement of the Goods and Services Tax (GST) or the inclusion of a similar tax structure under the current tax regime in order to widen the government’s tax revenue base to prepare for turbulent times ahead.

PETALING JAYA (Oct 31): The National House Buyers Association (HBA) lauded on government’s move in offering affordable housing to the low income group but also advised that the provision of such housing projects need to be done with thorough research to meet the market needs, said HBA’s honorary secretary general Datuk Chang Kim Loong.

PETALING JAYA (Oct 31):  The newly unveiled Budget 2022 is a timely budget that offers relief to the families and industries which were badly affected by the pandemic, with various one-off incentives on individual income tax would augur well as it helps to lighten the burdens of the rakyat collectively, said Datuk Seri Koe Peng Kang, president of International Real Estate Federation Malaysian chapter (FIABCI Malaysia) “It was also heartening to see one of our wishes on the abolishment of RPGT from the fifth year onwards was tabled albeit taking effect only from the sixth year onwards.

PETALING JAYA (Oct 31): The proposed waiver of Real Property Gains Tax (RPGT) for properties sold in the sixth year is good news for the property market but more incentives needed for the secondary market and commercial segment, said Zerin Properties CEO Previndran Singhe.

PETALING JAYA (Oct 29): The allocation of RM2 billion Housing Credit Guarantee Scheme announced under the Budget 2022 will benefit first-time homebuyers, especially wage earners without steady incomes, said JLL Property Services (Malaysia) Sdn Bhd country head YY Lau.