Low Yat Group, one of the pioneers in Malaysia’s property and hospitality industries, considers the Budget 2019 presented on Friday as a key tool in improving Malaysia’s economic wellbeing while overcoming inherited debts from the past government.
The Group’s Executive Director, Low Su Ming commented, “This is a good head start given the underlying challenges faced by our new government. I am pleased that the government didn't present an austerity budget even though the government finances are stretched. The rakyat's income will increase only with an improving economy and the aids handed out are also more targeted to ensure misappropriation is avoided.”
Knight Frank Malaysia commends the Pakatan Harapan Government for tabling its well-rounded Budget 2019, which lives up to their social responsibility of securing the nation’s wellbeing by promoting economic growth while reducing fiscal deficit.
Sarkunan Subramaniam, Managing Director of Knight Frank Malaysia says, “The exemptions and initiatives, in particular the waiver of stamp duty on the instrument of transfer and loan agreement for residential homes valued up to RM300,000 for a 2-year period and the 6-month waiver of stamp duty charges for properties priced from RM300,001 to RM1.0 million, are expected to kick-start the housing market moving into 2019 and beyond.
The new and extended incentives announced under Budget 2019 reflects Malaysia’s commitment in ensuring a conducive business environment for domestic and foreign investors against the backdrop of global challenges.
“As the principal investment promotion agency for the country, MIDA looks forward to the holistic study to review the 130 existing investment incentives under the purview of 32 Investment Promotion Agencies.