‘Foreign buyers will help revive construction industry’
THE lowering of the minimum price for foreigners to buy high-rise properties in Malaysia will solve the liquidity problem developers face and will address the issue of crimes associated with empty housing units, says LBS Bina managing director Tan Sri Lim Hock San as reported by China Press.
He welcomed the announcement, which was made during last week’s Budget speech, adding that the majority of Malaysians were unable to afford units above RM500,000.
“Since these units remain unsold, why not let foreigners buy them? It helps revive the local construction industry and ensures developers have a healthy working capital.
“Also, if foreigners come and live here, they bring in a flow of foreign exchange, which serves to improve our economy,” he said during an interview.
On Friday, Finance Minister Lim Guan Eng announced in his Budget 2020 speech that the threshold for foreigners to purchase urban high-rise properties would be reduced from RM1mil to RM600,000 next year.
Asked if the policy will heat up the local housing market, causing prices to shoot up, Lim said no.
> Not only did his good deed save the lives of 30 dogs last week, it also helped pundits win the lottery, reports Kwong Wah Yit Poh.
The paper had earlier reported that the head of Pertubuhan Pasukan Keselamatan Sukarela Sungai Petani, whose surname is Lim, spent RM3,000 and adopted some 30 dogs scheduled to be euthanised by the municipal council.
Pundits who bet on his lorry’s registration plate with the number 8413 were rewarded last weekend.
It won the third price at a lottery in Singapore on Saturday and consolation prize on Magnum 4D on Sunday, bringing them an unexpectso ed windfall.
>Singer Wang Leehom is famous for his love ballads that his concerts have turned into a de facto platform for proposals, reports China Press.
During a recent concert by Wang in Tianjin, China, there were as many as three marriage proposals.
Fans have jokingly referred to the American-born artist as an “unofficial marriage witness”.
It was also reported that there were several proposals at Wang’s concert in Shenyang and Yancheng earlier this year. “Do not underestimate the power of Forever Love,” a fan quipped while making a referWang’s ence to one of most wellknown songs.