THE EDGE MARKETS. 10TH MAY: Singapore has imposed extra property taxes in a move seen by analysts as targeting the super-wealthy who are purchasing homes under opaque structures to avoid such levies. Authorities will impose a 35% additional buyer’s stamp duty on homes transferred into a trust where there’s no identifiable beneficial owner, the Ministry of Finance […]
ASIAONE. 10TH MAY: 35 per cent Additional Buyer’s Stamp Duty (ABSD) will now apply for any transfer of residential property into a living trust from May 9 onwards, as announced by the Ministry of Finance late on May 8. Previously, the Buyer’s Stamp Duty (BSD) was payable for the transfer. Depending on the profile of the beneficiary, ABSD […]
EDGEPROP. 9TH MAY: “When we buy a luxury car for RM800,000, we can get our bank facility within two or three days without a lawyer, but when we buy a house for RM300,000, we are required to have a battery of lawyers to complete the transaction which takes an average of three to six months.” Based […]
FORBES. 9TH MAY: City Developments—controlled by billionaire Kwek Leng Beng—has sold 77% of its residential units at Piccadilly Grand, a residential condominium it is jointly developing with Hongkong Land unit MCL Land just outside the Singapore central business district, despite the government’s property cooling measures. The duo sold 315 units of the 407-unit Piccadilly Grand on Northumberland […]
THE EDGE MARKETS. 9TH MAY: THE subject of home ownership has again been hogging the limelight, with the government recently reactivating the National Affordable Housing Council to coordinate the government’s latest plan to build half a million affordable homes by 2025, as provided for under the 12th Malaysia Plan tabled just last September. As almost […]
THE EDGE MARKETS. 9TH MAY: HOUSE prices in Malaysia continue to be “seriously unaffordable” for most households, as they have been since at least 2004, with the issue worsened for those whose incomes were hit at the onset of the pandemic, the central bank says. In a one-page diagram in the 2H2021 Financial Stability Review […]
FREE MALAYSIA TODAY. 7TH MAY: Human resources minister M Saravanan will share Malaysia’s good practices in addressing the issue of forced labour during his working visit to Washington DC, in conjunction with the prime minister’s visit to attend the US-Asean Special Summit from May 10 to 13. In a statement here today, Saravanan said he […]
EDGEPROP. 6TH MAY: Maybank Investment Bank (Maybank IB) on Friday cut Genting Malaysia Bhd’s earnings per share (EPS) for the financial year ending Dec 31, 2022 (FY22) by 40% as the Omicron wave which began in Malaysia in February slows Resorts World Genting’s (RWG) recovery. Maybank IB analyst Yin Shao Yang said in a note […]
EDGEPROP. 5TH MAY: Residents of S P Setia Bhd’s developments can now catch a sight of the magical aurora borealis in their own backyards as the developer simulates the experience for the enjoyment of its communities. The aurora borealis, also known as the elusive northern lights, is a dazzling natural display of colourful light waves […]
EDGEPROP. 5TH MAY: Platinum Victory’s Jayyid Land Sdn Bhd, a joint venture (JV) with Jakel Group, is the first developer in Southeast Asia to be granted the Social Loan Principles (SLP)-based financing by HSBC. The deal, totalling RM136 million, will finance the Phase 1 of the J. Satine development in Setapak, Kuala Lumpur, which comprises […]