News about budget

The National Investment Council initially proposed a two-year timeframe for the carbon tax to be ready; however, Prime Minister Datuk Seri Anwar Ibrahim rejected it for taking “too long”, Tengku Zafrul said.

Second Finance Minister Datuk Seri Amir Hamzah Azizan said SJPP has given approval to provide guarantees for MSME financing up to RM20 billion and is expected to guarantee up to 90% of the financing for MSMEs, particularly those involved in the green economy, advanced technology, healthcare and halal businesses.

Throughout 2023, EdgeProp has delivered numerous industry stories to ensure you stay well-versed and empowered in navigating the property landscape.

Bukit Bintang Member of Parliament Fong Kui Lun pointed out that the Penang LRT project, spanning 23 stations, is estimated to cost RM10 billion, while the five revived stations under LRT3 will cost RM4.

Datuk Seri Fateh Iskandar Mansor said it is not the best time for the government to implement such measures as the local property market is slowly recovering from the Covid-19 pandemic and headwinds from rising inflationary pressures.

With substantial funds allocated to infrastructure projects, this “is an opportunity for developers to participate in large scale projects with lower risk profile”.

HBA’s suggestion is for the “Special Guarantee Fund” to be monitored by the Ministry of Finance with an intelligent team undertaking the selection process of responsible housing developers, reputed contractors/builders and white knights who have proven track records and good financial standing.

The research house kept its positive stance on the sector and said property demand will keep recovering as the benchmark overnight policy rate rate is likely to stay the same for this year.

Maybank Investment Bank's (Maybank IB) research and economics team is overall positive on the Budget 2024 measures, "with fiscal consolidation commitment reiterated, yet the national budget is expansionary and pro-growth".

RM4.