The government has agreed to review the strict terms and conditions for the Malaysia My Second Home (MM2H) programme which has led to many who opted to adopt this country as their second home to leave and the number of new applicants drop by up to 90 per cent.

The Tourism, Arts and Culture Ministry (Motac) said the decision to review the controversial conditions imposed since 2021 was reached following a meeting attended by its minister Datuk Seri Tiong King Sing and Home Ministry secretary-general Datuk Ruji Ubi.

Tiong said the application process for the programme will be made more flexible.

He added that both parties had agreed for Tourism Malaysia to promote and provide recommendations for applications via a filtering process through an MM2H one-stop centre.

The one-stop centre will assist interested individuals to process their applications and collate documents for submission to the Home Ministry or the Immigration Department for the issuance of the MM2H pass.

In a statement issued today, Tiong said his discussion with Ruji had also touched on the visa on arrival (VOA) facility for visitors from China and India to promote the growth of the tourism sector.

He said a proposal on the VOA for both nationalities will be submitted to the cabinet soon for further action.

It was previously reported that the MM2H programme has seen a 90 per cent drop in the number of applicants because of tougher conditions imposed.

Reports said those looking for adopted homes were opting for other neighbouring countries no thanks to the strict conditions imposed by the previous administration in 2021.

The new conditions imposed required applicants to have permanent savings of at least RM1 million and liquid assets of at least RM1.5 million.

Previously, they only needed savings of between RM300,000 and RM500,000.

They must now also show an offshore income of at least RM40,000 a month.

The Sultan of Johor Sultan Ibrahim Sultan Iskandar is among those who has expressed hope that the federal government would immediately review the strict conditions for the MM2H programme.

He had raised the issue during an audience with Prime Minister Datuk Seri Ismail Sabri Yaakob in 2021 itself.

Sultan Ibrahim had then said Johor was a key destination for foreign investors and the state was among the main contributors to Malaysia’s economic growth.

Source: NST Online

Panchor Indah Residency is a gated and guarded housing scheme by Active Commitment Sdn. Bhd. in Nibong Tebal. Located next to Taman Residensi Panchor, about 5 minutes drive from Jawi Toll Plaza.

The gated community offers two types of terrace house designs, measuring 20ft x 75ft and 22ft x 75ft respectively. Both are designed to provide a spacious and practical modern living. Residents of the community will have access to exclusive clubhouse facilities, including a swimming pool, children’s pool, gym, outdoor fitness equipment, and a large open field.

Project Name : Panchor Indah Residency
Location : Nibong Tebal
Property Type : 2-storey terrace
Built-up Size: 20ft x 75ft and 22ft x 75ft
Total Units: 148
Land Tenure: Freehold
Indicative Price: RM552,000 onwards
Developer: Active Commitment Sdn. Bhd. (Paramount Garden)

About Lucerne Residences

The final phase of residential development by Ideal Property Group at Ideal Vision Park in Bayan Lepas. It is just a short drive to Penang International Airport, 10 minutes walking distance to Straits International School. The project will see two blocks of 36-storey skyscrapers featuring a European living concept. It offers 480 residential units with a 5-storey parking podium.

Find out more about Lucerne Residences

For illustration only

Penang International Airport will soon see the construction of the Mitsui Outlet, a premium shopping mall, on the vacant land in front of its multi-storey car park. This was revealed by Bayan Baru MP Sim Tze Tzin after a briefing by the airport management on the expansion plans and progress of the airport.

The Mitsui Outlet was originally planned to be built before the pandemic, but due to traffic issues at the airport, the project was put on hold. Sim said that the construction of the mall and the airport expansion project will be carried out simultaneously.

He added that once the Mitsui Outlet is operational, it is expected to attract a large number of visitors, causing traffic congestion, which is why the traffic issue needs to be resolved first. The location of the Mitsui Outlet will be on the vacant land in front of the airport’s multi-storey car park.

Sim also highlighted the current capacity of the Penang International Airport, which can accommodate up to 6.5 million passengers annually. However, in 2019, the airport received over 8.3 million passengers, exceeding its capacity. Therefore, the expansion project, which is estimated to cost RM1.2 billion, will increase its capacity to 12 million passengers annually.

The airport expansion project includes the expansion of the existing terminal building, which will be doubled in size, as well as the expansion of the apron. The preliminary work for the project has already begun, and it is expected to take 3 to 4 years to complete.

Sim also addressed the concerns of the public about the lack of connection between the new multi-storey car park and the terminal building. He said that a covered walkway will be built to link the two structures.

The briefing was attended by senior officials from Malaysia Airports Holdings Berhad and Penang International Airport.

As of December 2022, the number of unsold completed residential properties has decreased to 27,746 units, worth RM18.41 billion, compared to 36,863 units worth RM22.79 billion at the end of 2021. Deputy Finance Minister Ahmad Maslan revealed that Johor has the highest number and value of unsold properties, with 5,258 units worth RM4.33 billion, followed by Selangor (3,698 units: RM2.74 billion) and Penang (3,593 units: RM2.74 billion).

According to Ahmad, residential properties priced between RM500,000 and RM1 million account for the highest number of unsold units, with 9,323 units valued at RM6.29 billion or 33.6% of the total unsold completed units. Unsold completed residential properties priced below RM300,000 stood at 6,509 units worth RM1.34 billion, while those priced between RM300,000 and RM500,000 stood at 8,128 units valued at RM3.29 billion.

Ahmad cited a report by the National Property Information Centre that showed many affordable homes, specifically those priced below RM300,000, are still available.

He added that the large number of unsold completed units can be attributed to the people’s low ability to purchase houses and the unpopular location of available units. Melaka is the only state that matches the ratio of affordable homes with the purchasing ability of buyers, according to Ahmad, who suggested that housing developers assess the people’s affordability in a particular state before embarking on housing projects.