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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...
Funds sought to boost property tourism Print E-mail
Monday, 05 April 2010 18:34

THE Penang Tourist Centre will spearhead a drive to tap funding from state and federal agencies to jointly promote property-related tourism.

Its director Ong Ban Seang said the centre was heeding a call to seek a win-win solution to overcome present difficulties faced in outsourcing for funds.

“I’ve been asked to help set up the Penang chapter of the Malaysia My Second Home (MM2H) Agents Association.

“The Penang chapter of MM2H will act as a platform for state tourism-related agencies and federal agencies to jointly hold activities to promote Penang property,” he said.

Ong was asked to comment on the proposed setting up of the Penang chapter which was mooted by MM2H Agents Association president Kirby Lim during the MM2H national dialogue held in conjunction with the 5th Penang International Property (PIP) 2010 Expo held at the Penang International Sports Arena on March 23.

Ong, who was PIP 2010 event director, said the three-day expo also saw RM80mil worth of property transacted with an additional RM120mil in follow-up sales.

He said the combined RM200mil worth of property transacted far exceeded the projected RM90mil this year.

Buoyed by the success of the expo, he said PIP Creation was now planning to hold a Penang property trade show of international stature in September.

“We will work with Malaysia Property Incorporated, a government initiative, to promote Malaysian property abroad, to bring in international players and buyers to the upcoming trade show.”

Ong said PIP Creation had also been approached by Exhibition Guide, which publishes a nationwide property directory, to hold a Penang property show in KL.

PIP 2010 co-organiser Michael Geh, who is also Raine & Horne senior partner and FIABCI Penang secretary, said a Penang MM2H chapter was timely as Penang is a top MM2H destination together with KL and Sabah.

“This augurs well for the property sector in the state. Realtors and agents welcome the move as the property market is buoyant following the recovery of the economy, ” he said.


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