The Ministry of Tourism, Arts and Culture (Motac) is gearing up to present a detailed policy paper to the Cabinet, outlining the full guidelines for the revamped Malaysia My Second Home (MM2H) applications, announced Home Minister Datuk Seri Saifuddin Nasution Ismail during a recent press conference. This move comes as part of the government's efforts to refine and rejuvenate the program, aiming to attract...

Knight Frank Malaysia projects a promising year ahead for the leasing activity of prime logistics warehouses, particularly in the Klang Valley, Johor Bahru, and Penang. According to Allan Sim, Executive Director of Land and Industrial Solutions at Knight Frank Malaysia, the sector is set to experience rental growth in 2024, attributed to the tight availability of grade A warehouses coupled with strong...

IPC Shopping Centre, a premier shopping destination located in Mutiara Damansara, Petaling Jaya, Selangor, is set to broaden its retail and culinary horizons with the introduction of MR DIY Plus as its new anchor tenant and a host of new food and beverage (F&B) offerings. This development, announced by Ikano Corp Sdn Bhd, marks a significant step towards enriching the consumer experience and catering...

Understanding the nuances of rental income tax is crucial for landlords to ensure compliance and avoid penalties. Here's a simplified guide to navigate the complexities of non-business income taxation in Malaysia. What is Rental Income Tax? Rental income tax applies to profits earned from renting out residential, commercial properties, machinery, and ships. It is governed by Section 4(d) of the Income...

In a progressive move towards sustainable development, Syarikat Perumahan Negara Bhd (SPNB), Malaysia's leading affordable housing developer, is evaluating a proposal to incorporate solar panels into its residential units. This initiative reflects the government's broader agenda to foster green technology and sustainable energy solutions within the country's housing sector. Potential for Green Energy in...

In a significant announcement, Radium Development Bhd has reported a commendable profit before tax (PBT) of RM15.77 million for the fourth quarter of the fiscal year ending 2023 (4QFYE2023), alongside a revenue generation of RM28.27 million for the same period. This performance is indicative of the group's financial resilience and adept management in navigating the complexities of project dynamics. The...

In a strategic move to fuel the development of its ambitious 760-acre Andaman Island project in Penang, property developer Eastern & Oriental Bhd (E&O) is finalizing discussions with banks to secure financing between RM1 billion and RM1.5 billion. According to Managing Director Kok Tuck Cheong, the second phase of this expansive project necessitates a total investment of RM2 billion, marking a...

In a decisive move to safeguard the integrity of the People's Housing Project (PPR), Kuala Lumpur City Hall (DBKL) has announced the immediate termination of contracts for nominees or tenants found renting out their units to foreigners. Ismadi Sakirin, DBKL's Chief Executive of Socioeconomic Development, emphasized the authority's stern stance against such violations, underscoring that profiteering from...

In a significant development for Malaysia's financial landscape, Prime Minister Datuk Seri Anwar Ibrahim announced a series of enticing incentives aimed at attracting companies to the newly established Tun Razak Exchange (TRX) in Kuala Lumpur. The announcement was made during an official launch event, marking a pivotal moment in Malaysia's ambition to establish a leading global financial district. Key...

The anticipated Johor-Singapore Special Economic Zone (SEZ), announced at the Joint Ministerial Committee for Iskandar Malaysia (JMCIM), has sparked excitement and high expectations on both sides of the border. Dr. Ong Kian Ming, a former deputy international trade and industry minister, provided a detailed list of proposals to enhance the bilateral relationship and economic collaboration between Malaysia...