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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...
The axe for inactive 2nd home agents Print E-mail
Sunday, 21 March 2010 18:29
GEORGE TOWN: The government will terminate the services of dormant agents of the Malaysia My Second Home (MM2H) programme.

Ministry of Tourism MM2H director Shevren Lai said the move would get rid of the bad apples and provide a level-playing field in the programme.

Lai said out of the 271 MM2H agents nationwide, about 60 per cent had been inactive for more than a year.

"We will delist agents who have not recruited at least 10 MM2H participants per year.

"Our aim is to recruit agencies which show firm commitment in signing up participants for the programme regularly," Lai said after conducting a dialogue session with MM2H stakeholders here yesterday.

She said the ministry would vet the track records of the existing agents and review their performances.

The MM2H department had axed two of its agents this year for not adhering to the ministry's licensing regulations.

The MM2H dialogue was an integral feature of the Penang International Property Expo 2010, which started on Friday, to showcase a number of property development projects in the northern region.

The dialogue session offered stakeholders, including foreign agents, an opportunity to field enquiries and bring forward pertinent issues related to the MM2H programme structure.

More than 50 developers, including Bertam Properties Sdn Bhd and MTT Properties and Development Sdn Bhd, offered various promotions to prospective housebuyers.

The gross development value of the projects on offer exceeded RM3.5 billion.


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