GEORGE TOWN: The Penang Municipal Council (MPPP) has officially re-zoned four localities on the island from residential to commercial status. Penang Municipal Council (MPPP) planning committee alternate chairman Felix Ooi Keat Hin said that be- tween 2009 and last year, MPPP had completed its study on the re-zoning of Gurney ... Read More

Kuala Lumpur: The Securities Commission (SC) has ruled that Sime Darby Bhd does not have to make a general offer (GO) for the shares in Eastern & Oriental Bhd (E&O), which it does not own. Trading in Sime and E&O shares were halted in the first half of trading yesterday ... Read More

With the supply of land-bank getting scarce in the Klang Valley, it’s not surprising to see developers expanding their presence in “not-so-prime” locations. This was evidenced as recently as last week, when SP Setia announced it was acquiring a RM381.2mil plot of land in Rinching, located mid-way between Semenyih and ... Read More

OPPORTUNITY may present itself for house buyers looking for properties in the secondary market especially in prime areas, with the property market going through a soft patch, dampening sentiments of speculators. “We have not detected any downward trend in prices yet, in fact prices are still on an upward trend ... Read More

 Affordable housing: Filepic of low-cost homes in Kepala Batas. THE Government?s move to help first-time house buyers to purchase homes priced up to RM400,000 will prompt developers to introduce more affordable housing. Under the Budget?s proposal, first-time buyers with a combined in-come of about RM6,000 will be eligible for loans ... Read More

VARIOUS initiatives have been put in place under Budget 2012 to make house ownership more affordable. The maximum price of houses under the My First Home scheme will be increased to RM400,000 from RM220,000, and eligibility will be through joint loans of husband and wife from January 2012. The 1Malaysia ... Read More

Kuala Lumpur: The impact from the real property gains tax (RPGT) hike, a move to curb speculation in the property market, will be gradual. RPGT is a tax on properties sold less than five years after they are bought. Only the profit from the sale of a property is subject ... Read More

Government proposes to increase the limit of house prices under the My First Home Scheme from a maximum of RM220,000 to RM400,000 beginning January 2012 ... Read More

The government today proposed a review of the Real Property Gains Tax (RPTG) to curb speculation. The government has proposed that for properties held and disposed within two years, the RPTG is 10 per cent for both companies and individuals. For properties held and disposed within a period exceeding two ... Read More

GEORGE TOWN: Penangites should not be kept in the dark over talk of land reclamation along the Bayan Lepas coastal area. Pantai Jerejak Barisan Nasional coordinator Wong Mun Hoe urged the state government to “come clean” on its dealings with Boustead Holdings. “The reclamation of 40ha is estimated to be ... Read More