On Tax Relief SLAPP 2014; MYR difficulties; Property Expos; IKEA Penang; Singapore Housing
Tax/Insurance: Tax Relief 2014 for Insurance & Medical
- Life insurance up to RM6000 (combined with EPF)
- Insurance for education or medical benefit up to RM3000
- Get your SLAPP2014 from Mar onwards from your insurance provider or agent
Source: Bloomberg
Currency: RM in Real Malady
- RM vs USD at 5 year low (3.65-3.70 range)
- Expected BNM FOREX reserves decline but still above US100b
- US Feds expected raise interest rates for 1st time in about a decade
- A number of Asian countries cutting interest rates
- Oil makes up 1/3rd MY revenue thus expect continued volatility
Properties: Upcoming Expos
- Mar 6-8 @Puchong Financial Corporate Centre (Star)
- Mar 12-15 @Sunway Carnival, Penang (Star)
- Mar 26-29 @The Curve, Damansara (iProperty)
- Apr 17-19 @KLCC (iProperty)
Development: Aspen Vision City @Batu Kawan
- Mixed residential + commercial development
- JV Aspen Group & Ikano (IKEA franchisee)
- 245-acre; 2nd Pg bridge maindland landing point
- Phase 1: Shoplots & office (Verve; 451 units; 3/4 storey; 3500-8000sf; private lift)
- IKEA (full sized IKEA store; integrated shopping mall; est completion 2018; 30 + 45 acres)
- http://www.aspen.com.my/
Properties: Singapore Positive
- Increased property purchase by Malaysians & Mainland Chinese despite ABSD levy (foreigners 15% / PR 5-10%)
- #9 global ranking in investments & development prospects
- #7/10 choice for 2nd home purchase for UNHW (Ultra-High New Worth individuals)
- MAS shows transactions declining 3200 (Y2012) > 1900 (Y2013) > 1200 (Y2014 10M)
- Fewer new HDB 28000 (Y2014) > 16900 (Y2015)
- HDB prices down, sales up
- Further decline in home prices (est -8%)
- Source: iProperty Magazine (Issue 120 p84-92)
Leave A Comment