I LOVE YOU Plantation Minister...a very supportive comment for glove industry... And he said he noticed Mahsing plan to venture glove industry... That mean Mahsing is really making progress... Here comes the aura to be Top5
Waiting for budget incentive any tax break for property developers { the slump in property take up real. Condos and apartmens are empty with the borders closed in definety. rental rates have spiral down hurting investor
Malaysia’s biggest rubber glove producers — Top Glove Corp., Hartalega Holdings Bhd., Supermax Corp. and Kossan Rubber Industries — were spared a windfall tax on their supernormal profits. Instead, they will contribute a combined RM400 million to bear some of the costs of a coronavirus vaccine and health equipment.
Builders
Builders including Gamuda Bhd. and IJM Corp. stand to gain. The government will go ahead in implementing transport infrastructure projects and will allocate RM15 billion to fund the Pan Borneo Highway, Gemas-Johor Bahru electrified double-tracking rail project and phase one of the Klang Valley double tracking project.
The Rapid Transit System Link from Johor Bahru to Woodlands, Singapore and the MRT3 in Klang Valley will also continue. The government will also continue with the High-Speed Rail Project with Singapore because of its multiplier effect on the economy.
Property
To further boost home ownership, the government will extend full stamp duty exemption on transfer and loan agreements for first-time home buyers until the end of December 2025. The government will also set aside RM1.2 billion for public housing projects.
The RM15 billion allocation next year for rail and road projects would indirectly benefit the property sector, says Mah Sing Group Bhd founder and group managing director, Tan Sri Leong Hoy Kum.
The government's allocation comes under Budget 2021 announced today for projects such as the Gemas-Johor Bahru electrified double-track, Pan Borneo Highway, Klang Valley double-track Phase 1, Johor Bahru-Singapore Rapid Transit System, and Klang Valley's Mass Rapid Transit Line 3.
Leong said Mah Sing stands to benefit a great deal from the allocation as several of the group's property developments are located nearby some of these rail and road projects.
"The allocation (by the government) would help to improve the location's attractiveness and desirability to live," Leong said.
Sinopharm Vaccine (linked to Kanger) is on track for full approval in November or December
“The most promising of these, developed by Wuhan-based Sinopharm, is already being given to frontline workers in the United Arab Emirates. According to Wu Guizhen, chief biosafety expert at the Chinese Center for Disease Control and Prevention, Sinopharm’s candidate is on track for full approval this month or next.”
1)革免个人的产业盈利税, 有效期限从2020年6月1日至2021年12月31日, 每个人限售3个住宅单位. The exemption for personal or individuals on property gain tax(RPGT), valid from June 1, 2020 to December 31, 2021, each person is limited to the sale of 3 residential units.
2)The RM500,000 or below starter homes likely to boom Buyers for first homes priced below RM500,000 will get FULL STAMP DUTY exemption on Memorandum of Transfer (MOT) and loan agreement. This is effective for agreements inked from January 2021 all the way to December 2025. If this is not attracting first time home buyers to buy, I am not sure what else would.
3)Rent-To-Own scheme for FIRST-TIME home buyers only Government to cooperate with selected financial institutions to provide a Rent-to-Own scheme. This programme will be implemented until 2022 involving 5,000 PR1MA houses with a total value of more than RM1 billion and reserved for first-time homebuyers. This is a SUPER important measure in my opinion. Many may want to buy a home but may not yet have enough downpayment. With this scheme, the buyer can start to become more responsible and may have a chance to own a home a few years down the road.
4)Stamp Duty exemption on stamp duty exemption on loan agreements and transfers given to rescue contractors and original buyers of abandoned houses This has been extended for another five years. Finance Minister Datuk Seri Zafrul Tengku Abdul Aziz said, “This exemption is for the sale and purchase agreement completed from Jan 1, 2021 until Dec 31, 2025 for abandoned housing projects approved by the Ministry of Housing and Local Government.”
5)New homes under People’s Housing Programme and Rumah Mesra Rakyat RM1.2 billion will be provided to build up to 14,000 houses under the People’s Housing Programme and RM315 million to build 3,000 units of Rumah Mesra Rakyat by Syarikat Perumahan Negara Berhad (SPNB).
There are 5 things mentioned above on Budget 2021 for property market. Actually, the above is to stimulate the property market and it is mostly targeted at first time home buyers which will be a very big group. By the way, majority of buyers are buying RM500,000 priced homes or lower and not homes priced above RM500,000. Thus, if the property market moves, this will create a lot of positive stimulus effects to the construction industry too. In other words, these 5 things done right will create more than 5 benefits listed above. Happy thinking about it, seriously. (I meant first-time home buyers) !
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
DreamGuardian
1,169 posts
Posted by DreamGuardian > 2020-11-05 09:58 | Report Abuse
Very good