Follow MyMM2H on......

Facebook Page Twitter


Discontinuation of The Reduction Of Fixed Deposit Placement Based On Property Purchase And MM2H Approval By Government Pension
Kindly be informed that MM2H Centre has discontinued the reduction of Fixed Deposit placement based on property purchase worth RM1 million and above in Malaysia. Also discontinued is the MM2H...
Govt need to review policies Print E-mail
Thursday, 18 December 2008 13:12

KOTA KINABALU: Changes have to be made to the housing and banking policies if the Malaysian government wants to attract more foreigners to participate in its ‘Malaysia My Second Home programme (MM2H)'.

Karambunai Corp Berhad's Chief Executive Officer, Datuk Robin Loh told reporters after the handing over of certificate of occupation for Nexus Resort Karambunai II Phase 1A by mayor, Datuk Iliyas Ibrahim yesterday that the government should not make it so difficult for MM2H participants to buy properties in the country.

"These are the people who are bringing in money to the country. They are the people who want to invest and retire in our country. We should not curb them by setting up conditions that would hamper their arrivals," he said.

He added that the country and its people would benefit by making its policies most feasible to the MM2H participants.

"Our airports will be busier, and their presence will create jobs for our people," he said.

On the project itself, Robin said that they had sold over 230 units of the beachfront spa villas which costs between RM800,000 and RM1.2 million.

All but one of the buyers comprised foreigners, he said, adding that the buyer is a non-bumiputra.

He added that the project was a world class project and attracts foreign investments into the country.

"So we need to open up and make it conducive for our MM2H participants," he said.

He also said that the project was not classified under residential as they would have to sell 30 percent of the properties to bumiputras.

"We paid higher premium to get it classified under commercial, which enabled us to sell the lots to anyone," he said.

Meanwhile, Iliyas in his speech lauded the project, saying that it was yet another step forward for Kota Kinabalu in realizing its ideal as a nature resort city.

"We look forward to the day when Nexus Resort Karambunai II is fully completed, when this place will be transformed into a resort destination," he said.

Also present at the event were Plantation Industries and Commodities deputy minister, Senator A. Kohilan Pilai and DBKK Town Planning department director, Alijus Sipil.

(Source: New Sabah Times, 16 Dec 2008)

Add this page to your favorite Social Bookmarking websites

Currency Converter by Google

Convert   into    

Licensed by

Ministry of Tourism, Malaysia Tourism Malaysia Imegresen Malaysia Malaysia My Second Home

Member of

SME International