News

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...

In the competitive landscape of Malaysia's property market, 'free legal fees' is a tantalizing offer made by developers to attract buyers. However, this perk, commonly seen as a financial relief for potential homeowners, warrants a deeper analysis to uncover its actual benefits and implications. What Does 'Free Legal Fees' Really Mean? At face value, 'free legal fees' implies that the developer covers...

As 2024 unfolds, the Malaysian property market presents a mixed bag of challenges and opportunities, keeping potential investors on their toes. The financial stretch in major cities continues to hinder homeownership dreams, particularly for the younger generation, who grapple with property prices far exceeding their annual household income. Amidst these hurdles, certain areas and segments of the property...

In major Malaysian cities, the dream of homeownership remains elusive for many, particularly the younger generation, due to a stark mismatch between median property prices and household incomes. Despite government initiatives like the National Affordable Housing Policy aimed at addressing this issue holistically, a significant overhang of unsold properties valued at RM18.42 billion as of the end of 2022...