KUALA LUMPUR, June 28 — Malaysia will announce this week liberalisation measures in the property sector and easing of rules for foreign listings on the stock exchange, a local newspaper reported today.
Prime Minister Najib Razak earlier this month said he would make significant announcements to further liberalise the economy at the annual Invest Malaysia conference in two days time.
As part of the prime minister's announcement, the government will relax restrictions on foreigners buying property in the country, said Kong Cho Ha, Minister of Housing and Local Government.
"Previously, there were restrictions on property investments made by foreigners, the government will relax those rules," Kong was quoted by the online edition of the Nanyang Daily as saying.
The prime minister is also expected to announce relaxation on listing rules for foreign firms on Bursa, the country's stock exchange, said Kong. He did not elaborate.
The government was hoping these new measures could give the economy, expected to shrink 4 to 5 per cent this year, an immediate boost, said the minister. — Reuters
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malaysia should remove 5-10% bumi discount for houses! my malay boss (a multimillionaire) bought a big bungalow got 7% discount, just because he's bumi. i am chinese, bought a small intermediate terrace, get no discount. why is that malay given discount instead of me when I am way much much poorer than him.