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Temporary freeze of Malaysia My Second Home (MM2H) programme

August 4th, 2020 No comments 中文版

my second home

The Malaysia My Second Home (MM2H) programme is temporarily frozen to enable the Ministry of Tourism, Arts and Culture (MOTAC) to comprehensively restudy and reevaluate it.

According to a statement from the ministry today, the move is also in line with the government’s decision of still not allowing the entry of foreign nationals into this country due to the COVID-19 pandemic.

“Among the matters to be studied are the conditions, incentives and comparisons with MM2H-like programmes in other countries such as the Citizenship by Investment (CBI) or Residence by Investment (RBI).

“During the MM2H freeze period, MOTAC as coordinator of the programme is unable to process new applications forwarded to it. This takes into consideration that processing of the MM2H applications involves various ministries and agencies which are also impacted by the temporary freeze.

“However, if there are foreigners still interested to participate in the programme, they can submit their applications after the programme is reactivated but they need to meet the prevailing set conditions,”  it said in the statement.

Foreign nationals could also refer to the Department of Immigration Malaysia for information on obtaining a suitable immigration pass to reside in Malaysia over a long period.

“MOTAC assures that the results of the study which will synergise with current needs will benefit all the stakeholders,” it said.

The ministry hopes that all parties would support the government’s desire to improve the MM2H programme for it to be at par with that of other countries.

Source: EdgeProp.my

 

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Aster Villa @ Pearl City

August 4th, 2020 No comments

Clubhouse and swimming pool

Aster Villa, the latest addition to Peral City township development by Tambun Indah Land at Simpang Ampat. Located along Jalan Tasek Mutiara 9, at the southeast of Pearl City township. it is about 2km to Pearl City Mall and GEMS International School, less than 15 minutes drive to Simpang Ampat toll plaza of North-South Expressway. Other amenities within 5 km include SMJK Jit Sin II and SMK Bandar Tasek Mutiara, several other shops and facilities.

This development will feature a gated and guarded housing scheme, comprises 128 and 90 units of 2-storey terrace and semi-detached houses respectively. The terrace houses offer two different design types, with a minimum land size of 1,240 sq.ft. There will be a resident clubhouse with a swimming pool.

Property Project : Ambay Park
Location : Pearl City, Simpang Ampat, Penang
Property Type : 2-storey terrace & semi-detached
Total Units: 153
Land Area: 1,240 sq.ft. onwards
Built-up Area: 20′ x 42′ (terrace) , 22′ x 43′ (semi-detached)
Tenure : Freehold
Developer : Tambun Indah
Indicative Price: RM678,000 onwards

Register your interest here

*By submitting this Form, you hereby agree to our PDPA Consent Clause.
(This information may be used by the developer or their appointed agent to initiate follow-up communications with you on the project.)

Location Map:

 

 

Categories: Simpang Ampat Tags:

Mortgage Outlook 2020/21

August 3rd, 2020 No comments

Covid-19 has wreaked havoc in people’s lives throughout the world. In Malaysia, the response to COVID-19 was swift. Bank Negara Malaysia (BNM) announced a loan moratorium of 6 months from 1st April to 30th September 2020. This gave everyone and all businesses with borrowings a breathing space.

What may happen when the moratorium ends? How prepared are we for this? For the ones who are still not prepared, they are hoping for the moratorium to be extended. Would it be extended?

MY08.08.20 Webinar2

 

Miichael with his 22 years of experience in Property and Mortgage will share with you the “Mortgage Outlook 2020 / 2021.” Click here to know more on Miichael

It is of utmost importance that we know where the industry is today and where would it be heading to because this will guide our decision on what to do with our borrowings.

Key Highlights:

  • Potential happenings once the moratorium ends
  • Will the mortgage approval get more difficult moving forward?
  • How do we take advantage of the current low interest rate? (This low rate environment will not be forever)
  • Mortgage Tips & Tricks for all of us to ride out this potential financial storm

Come and join Miichael in this online webinar.

Register for the FREE WEBINAR below

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MBPP and IBM ink second MoU on smart city initiatives

August 3rd, 2020 No comments

penang-ibm

For the second year running now, the Penang Island City Council (MBPP) has tightened its partnership with IBM Malaysia Sdn Bhd after a memorandum of understanding (MoU) was signed today.

The collaboration would see both parties work closely to further enhance smart city initiatives to improve the delivery of public services in the state.

The MoU today was signed between MBPP mayor Datuk Yew Tung Seang and IBM managing director Catherine Lian and it was witnessed by state Housing, Local Government and Town and Country Planning Committee chairman Jagdeep Singh Deo.

Speaking at the ceremony, Jagdeep said the only thing that keeps everyone connected during this Covid-19 pandemic is technology.

Hence, he said it is important the public continues to embrace technology and never let their guard down as the fight against this unprecedented situation is far from over.

“Penang is always leading the way, not only in the country but also in this region when it comes to smart government and smart city.

“I was made to understand that IBM has comprehensive approach to helping cities to run more efficiently, save money and resources, and at the same time to improve the quality of life for the people,” Jagdeep said during a press conference in Komtar today.

Under the new MoU, IBM will continue to offer its technology, services and expertise for the development and deployment of cloud infrastructure to support MBPP’s ongoing smart city initiatives.

The terms also include planning, developing and deploying artificial Intelligence (AI) solutions that can help improve MBPP’s operational efficiencies and innovations to provide better quality of services for the public.

According to Yew, MBPP is confident that the fruitful collaboration with IBM would continue to accelerate steady economic growth in the state and improve the living standard of all Penangites.

Catherine said with the direct impact of Covid-19 pandemic halting the essential public services, the race for digital acceleration for socioeconomic resiliency is more imperative than before.

“The continuous collaboration with MBPP exemplifies IBM’s commitment to supporting local governments in Malaysia to accelerate the nation’s digital transformation agenda and seize opportunities to sustainable prosperity for the rakyat,” she said.

Also in attendance were MBPP secretary Datuk Addnan Mohd Razali and IBM Malaysia director of the government and regulatory affairs Hasnul Nadzrin Shah Abdul Halim.

Source: Buletin Mutiara

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Landlords should have the right not to let their property

August 2nd, 2020 2 comments

house-for-rentPutrajaya has been cautioned against restricting the rights of landlords in a new law which is aimed at preventing racial discrimination in the property market.

The National House Buyers Association (HBA) said the proposed Residential Tenancy Act which the government intends to table in Parliament next year, should not restrict the landlord’s rights to reject a potential tenant or evict an existing one.

“HBA is against racial discrimination but if an owner meets a potential tenant who seems problematic, they should have the right not to let their property,” HBA said in a statement.

“No landlord would want to be faced with the additional expenses of fixing a badly damaged property as the current deposit of two months’ rent and half month utility deposit are inadequate in most cases,” it said.

The association said the relationship between a landlord and tenant should not be violated by terms and conditions set by a third party.

The HBA said housing loans have included terms that the properties cannot be used for illegal or criminal activities, and any damage to the house or any detrimental activity conducted within can have serious repercussions to the owner.

“A landlord that carefully chooses a tenant to ensure the tenant is not a criminal is also abiding by the terms of his housing loan agreement,” it said. Poor tenant choice could also devalue the property, especially for stratified properties.

It also questioned how the ministry will determine whether a potential tenant is rejected based on skin colour. “Is the ministry only to rely on the complaints of the disgruntled rejected potential tenant? Will the minister and those under her charge accompany potential tenants to meet potential landlords to ensure no racial discrimination?”

HBA said the RTA should instead enhance remedies to resolve disputes between landlords and tenants.

It also proposed for the ministry to form a residential tenancy tribunal to settle disputes between landlord and tenant.

HBA said the government should address real housing issues such as expensive properties, especially in urban areas which is due to the cost of construction being levied heavily on house buyers instead of developers.

There are also issues of abandoned projects and unlicensed developers, it said.

“There are 281 private licensed housing developments certified as abandoned projects between 2009 until July 2020. These 281 abandoned projects are equivalent to 73,959 housing units which affect 48,810 house buyers,”

Source: FMT News

 

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