REHDA Welcomes the Amendment to RPGT

The Real Estate and Housing Developers’ Association Malaysia (REHDA) lauds the Government’s decision announced by the Prime Minister to amend the Real Property Gains Tax (RPGT).  The re-imposition of RPGT effective next year, which was announced during the tabling of Budget 2010 will now only be applicable to properties disposed within five years of ownership.

Joint Memorandum Of Appeal To The Government Of Malaysia Not To Reinstate The Real Property Gains Tax From 1st January 2010

We, the under-signed, representing affected stake-holders from the broad spectrum of the property industry encompassing developers, contractors, builders, industrialists, consultants, house-buyers and property investors wish to hereto submit our joint memorandum and petition to the Government of Malaysia to review and withdraw the proposed re-imposition of the Real Property Gains Tax effective as from 1st January 2010.

Budget 2010

Real Estate and Housing Developers’ Association Malaysia (REHDA) President, Datuk Ng Seing Liong welcomes the various incentives and measures announced in Budget 2010 to further promote home ownership in the housing sector

Liberalization of Legal Fees The Way To Go

The Real Estate and Housing Developers’ Association Malaysia (REHDA) would like to bring to the attention of the Government and the Malaysian Bar Council that with effect from 1 October 2009, Singapore has liberalized its fee guidelines for the conveyance of property titles and REHDA feels that this is a step in the right direction.

REHDA Hails Revision of Stamp Duty on Construction Contracts

REHDA Malaysia welcomes the announcement made by the Ministry of Finance (MoF) on the revision of stamp duty imposed on all service agreements including construction contracts to RM50 as opposed to the earlier ad valorem rate of 0.5% of contract value which was implemented pursuant to the amendment of the Stamp Act with effect from 1 January 2009.

Increased Building Cost despite Easier Stamp Duty Assessment

The Real Estate and Housing Developers’ Association Malaysia (REHDA) urged the Government to reconsider imposing the stamp duty assessment rate of 0.5 per cent on all construction services agreements which came into effect on 1 January 2009 as it is only burdening members of the building fraternity, including contractors, consultants and developers.

REHDA Welcomes The New Economic Model

The Real Estate and Housing Developers’ Association Malaysia (REHDA) welcomes the “New Economic Model” announced by the Prime Minister which saw the increment of foreign shareholding limits for the unit trust management companies from 49% to 70% to further enhance Malaysia’s position as a listing and investment destination.

REHDA Welcomes New Policy on Iron and Steel

The Real Estate and Housing Developers’ Association Malaysia (REHDA) lauds the positive move made by the Ministry of International Trade and Industry (MITI) to review the iron and steel policy under its new Minister, YB Dato’ Mustapa Mohamed.

REHDA Urges MPPP to Reconsider Inner City Hotel Projects Height Limit

The Real Estate and Housing Developers’ Association Malaysia (REHDA) urges the Penang Island Municipal Council (MPPP) to reconsider the restriction made to limit Penang’s inner city hotel projects to 18m height or five - storey ruling.

REHDA welcomes removal of 30% Bumiputra equity requirement for service sub-contractors

The Real Estate and Housing Developers’ Association Malaysia (REHDA) welcomes the announcement made by the Prime Minister, Datuk Seri Najib Tun Razak on the removal of 30% Bumiputera equity requirement for services sub-sectors.

MDC URGES GOVERNMENT TO IMPLEMENT HIGH IMPACT MEASURES TO STIMULATE HOUSING INDUSTRY

JOINT COMMUNIQUE

10TH MALAYSIAN DEVELOPERS’ COUNCIL (MDC)
PENANG, 27 MARCH 2009

The Malaysian Developers’ Council, a tripartite affiliation between the Real Estate and Housing Developers’ Association Malaysia, the Sabah Housing and Real Estate Developers’ Association (SHAREDA) and the Sarawak Housing and Real Estate Developers’ Association (SHEDA) held its 10th meeting in Penang today.

Second Stimulus Package : Comprehensive Yet Lack High Impact Measures for Property Sector

REHDA welcomes the RM60 billion Second Stimulus Package announced by the Minister of Finance today. In particular, the Association felt that the additional RM200 million to build Rumah Mesra Rakyat by Syarikat Perumahan Negara Berhad will help ease the private sector’s burden of cross-subsidizing low cost housing especially in these trying times.

REHDA Hails Ministry’s Annoucement to Stimulate the Property Market

Real Estate and Housing Developers’ Association Malaysia (REHDA) welcomes the announcement by the Ministry of Housing and Local Government to stimulate the property market and help ease burden of house buyers and developers who are now hit by the contracting economic condition.

REHDA Welcomes Reduction of Electricity Tariffs

The Real Estate and Housing Developers Association Malaysia (REHDA) welcomes the recent reduction of electricity tariffs and views it as a positive move to help reduce consumers’ burden during this period of economic downturn.

Property Developers Welcome Government’s Decision To Allow Hillside Projects

Real Estate and Housing Developers Association Malaysia (REHDA) welcomes the announcement by the Minister of Works that development of hillside projects will continue to be allowed and there will be no blanket ban on such projects.

REHDA Welcomes Positive Move to Help Borrowers

REHDA Malaysia welcomes the effort made by Bank Negara Malaysia to further cut the Overnight Policy Rate (OPR) from 3.25% to 2.5% and reduce the statutory reserve requirement (SRR). The announcement was seen as a proactive move made by the Central Bank to lower the costs of borrowing for consumers.