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REAL ESTATE AND HOUSING DEVELOPERS' ASSOCIATION MALAYSIA |
ABOLITION OF RPGT WILL SPUR THE PROPERTY MARKETREHDA Malaysia welcomes the announcement by the Prime Minister YAB Dato' Seri Abdullah Badawi to remove RPGT imposition, as this would spur the primary and secondary property market in the short to medium term. The move would also encourage healthy speculative activity. Such increased transactions would have a positive multiplier effect on the economy. COMMENTS FROM MASTER BUILDERS ASSOCIATION MALAYSIA (MBAM) AND REAL ESTATE & HOUSING DEVELOPERS ASSOCIATION (REHDA) ON STEEL BAR PRICE INCREASEMBAM and REHDA are very concerned over the recent increase in purchase prices of steel bar. The world market increase in steel prices and increase in exports to Middle East countries has resulted in manufacturers diverting their output to export markets where billets fetch higher prices than the controlled price of steel bars. As a result, a large portion of steel had been allocated for export, resulting in shortage of steel in the domestic market and subsequent inflation of steel bars due to grey market activity. |