Financial Roundup: Feb 24, 2015

2018-05-01T11:49:18+08:00By |Forex / Ringgit, Properties, Roundup, Tax|

On Tax Relief SLAPP 2014; MYR difficulties; Property Expos; IKEA Penang; Singapore Housing

tax-deduction

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
Click to enlarge

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

propertyfair-logo-2015iproperty-expo-2015

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)

ikea aspen-ikea

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/

singapore-properties

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)
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