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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...
Foreign response still good Print E-mail
Friday, 12 February 2010 03:36

By Looi Sue-Chern

GEORGE TOWN: The recent criticisms by some Malaysia My Second Home (MM2H) participants in the state over environmental and over-development concerns have not affected response from foreigners so far.
Property agencies and MM2H agents here said business was still good.

Michael Geh, a senior partner of local real estate agency Raine and Horne International, said there were more happy second homers here than unhappy ones despite occasional complaints by MM2H participants.

"For every two or three unhappy participants, there are 20 others who are satisfied and happy with their homes in Penang.

"Many of the participants see Penang as an ideal base when they leave their countries for very long vacations. They are not here all the time," he said.

A MM2H agent, Lee Hock Leong said many foreigners were interested in relocating to Penang and joining the programme.

"Things are going well, as far as the MM2H programme in Penang is concerned because people are hearing good things through word of mouth.

"I cannot disclose any figures but I can say that I get about three successful applications each month, which to me, is an achievement," Lee said at a press conference by the Penang Tourist Centre (PTC) and Penevents Sdn Bhd here yesterday.

PTC and Penevents announced their MM2H National Dialogue, which would be on March 20 and 21, in conjunction with the Penang International Property Expo 2010 at the Penang International Sports Arena.

On the unhappiness of some MM2H participants with over-development of Tanjung Bungah and Batu Ferringhi's hillslopes, poor traffic dispersal and cleanliness problems, the event's organising chairman, Datuk Syed Mohamad Aidid Syed Murtaza said development was inevitable for any country in the world.

He, however, stressed that there should be a balance between development and conservation of nature, with the people keeping a vigilant eye on what was happening to the environment around them.

"Now that foreigners are also speaking up on the issue, the authorities will have to be more mindful in handling issues of development.

"The MM2H National Dialogue, which is endorsed by the Tourism Ministry this year, will be the best platform for our MM2H participants to voice out their unhappiness and concerns to the government."

It was recently reported that some MM2H participants here, namely those living in Tanjung Bungah and Batu Ferringhi, were disappointed with massive development taking place there.

On the MM2H National Dialogue, Syed Mohamad Aidid said the organisers were targeting about 150 delegates, consisting of existing MM2H participants in Malaysia, interested foreign nationals, accredited MM2H agents, and representatives from related public and private sectors like the Malaysian Immigration Department, property developers, travel agents, private medical and education providers, hoteliers and embassies.


The event would also feature tours to selected property developments, he said.

Registration for the dialogue is RM200 per participant and on a first-come-first-serve basis. For those already in the MM2H programme, the registration fee is RM100 per person.


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