# 06 Oct 2007 - Buy Malaysian Properties RM1 Million & above - MM2H application will be fast track

The Star: 6 October 2007

Buy Malaysian Properties RM1 Million & above - MM2H application will be fast track

LONDON: Applications for the Malaysia My Second Home (MM2H) programme will be fast-tracked for those who had bought properties worth RM1 million and above in Malaysia.

Tourism Ministry secretary-general Datuk Dr Victor Wee said they must show proof such as the sale & purchase agreement and other documents when submitting their applications.

He said although purchase of property was not a prerequisite for the programme, it showed the applicants' financial capabilities.

If the person has already bought such a property in Malaysia, he would pass the test, he told Malaysian journalists after speaking at the Malaysia My Second Home & Medical Tourism seminar on Friday.

Applications are usually processed within four weeks based on four main criteriafinancial, medical, health and security background checks.

Dr Wee also urged health insurance companies to extend coverage to those above 65 years to give the programme a boost.

Britons retire at 65 and that's when they really want to go to Malaysia under the MM2H scheme, he said.

He said the insurance industry should work out a special package for those 65 years and above or even whole life coverage.

Earlier, Dr Wee said a total of 1,183 applications were approved during the first nine months of this year.

The top 10 countries were Britain (166), followed by Japan (139), Bangladesh (122), South Korea (121), China (58), Singapore (40), Sri Lanka and the United States (38 each) and India and Iran (both 33).

He said most of them chose to live in Kuala Lumpur, Penang, Malacca, Langkawi and Johor with Sabah gaining popularity recently.

Dr Wee added Malaysia had been ranked seventh in the Fifth Annual Global Retirement Index survey of 29 countries by International Living magazines website, a global lifestyle, travel and investment site.

Malaysian High Commissioner to Britain Datuk Abdul Aziz Mohamed noted that just over 1,000 British nationals had joined the MM2H programme.

This was a sharp contrast to the estimated 700,000 Britons, mostly retirees, living in Spain or the relatively high number enjoying a similar programme in Thailand, he said.

Given the long historical association as well as shared traditions and values, Malaysia should be the destination of choice, he added.

More Britons Want To Stay Here

NST Online: 7 October 2007

LONDON: Another British couple is poised to make Malaysia their second home.

They decided on this after hearing explanations on costs and expenses at a Malaysia My Second Home seminar organised by Toursim Malaysia, the Tourism Ministry and Overseas Malaysian Executive Club (Omec) here yesterday.
“We fell in love with Malaysia 10 years ago. Every time we go back to Malaysia on holiday, we always feel that we are going home.

Malaysia is now our home,” said Aileen Cook, who was satisfied with the regulations on applying to make Malaysia a second home.

“At first we thought that we had to pay a fixed deposit and confirm that we have proof of a monthly income.

Now we realise that it is one or the other,”she added.

Denis Clift chipped in to say that apart from the agent’s fee of £1,500 (RM10,400), which he thinks is quite heavy a payment to make, he is set to start the ball rolling and make the move.

Both Aileen and Denis are planning to spend their retirement days in Malaysia next year.

Aileen and Denis were among 30 British retirees who attended the half-day “Malaysia My Second Home (MM2H) and Medical Tourism” seminar held at the Renaissance Hotel in central London yesterday.

Many, who had been going to Malaysia for holidays, only needed some reassurance before they made their final move.

To answer their questions and clear their doubts were Datuk Dr Victor Wee, secretary-general of the Tourism Ministry; Datuk Dr Jacob Thomas from the Association of Private Hospitals Malaysia (APHM) and Kumar Tharmalingam, president of FIABCI Asia Pacific Real Estate Federation .

Also present to tell those present about their experience living in Malaysia were David and Barbara Miller, who had made Malaysia their second home for the past 10 years.

“We were told about Malaysia by a friend. When we went there for a holiday, within three dayswe had fallen in love with the country,” said David.

“It is a safe and friendly place,” added Barbara.

In his opening speech, Malaysian High Commissioner to Br itain, Datuk Abd Aziz Mohamed, said he was confident Malaysia, with its comparatively cheap cost of living, conducive climate, language and historical links, would be a destination of choice for many British thinking of making Malaysia their second home.

Wee, addressing concerns about medical insurance for those aged over 65, said that insurance companies would have to think through and work out details.

“People here (in Britain) retire at 65 and this is when peoplewant to think about this plan. Insurance companies will have to incorporate this as part of their offering.” Wee also welcomed those who had volunteered to give their time teaching English to Malaysians.

“We are all for people who want to contribute their services, but not for full-time employment. They can volunteer, as in the teaching of English. Full-time employment is not for this kind of programme.

Wednesday March 5, 2008 / THE STAR - MALAYSIA - MYT 7:44:46 PM
George Town moves up rankings of most liveable cities

PENANG: George Town has moved up a notch to rank as the 9th most liveable city in Asia for Asians to live in for the year 2007/2008 in a survey of 254 cities worldwide. The ECA International Location Ranking Survey had last year ranked the Penang capital as the 10th most liveable city in Asia for Asians.

George Town also saw the biggest improvement in scores among the 49 Asians cities surveyed by rising 11 notches in the global ranking from 74 to 63.

ECA International general manager Lee Quane said in a press release that the big rise was due to improvements in recreation, housing and personal security.

Globally, Singapore maintained the top spot as the best place for Asians to live in according to the annual survey which compares living standards according to categories, including climate, air quality, health services, housing and utilities, isolation, social network and leisure facilities, infrastructure, personal safety and political tensions.

Kuala Lumpur is tied with George Town at the 9th most liveable city in Asia and the 63rd most liveable city in the world.

Three Japanese cities made it to the top 10 in the Asian ranking. They are Kobe (2nd), Yokohama (3rd) and Tokyo (4th). Kobe and Yokohama were also among the top 10 in global ranking at 3rd and 8th spots respectively.

The other cities which made it to the top 10 in the Asian ranking were Hong Kong which was tied with Tokyo at 4th spot, Taipei (6th), Macau (7th) and Bangkok (8th).

Three Australian cities made it to the top 10 in global ranking. They are Sydney at second spot, Melbourne which was tied with Kobe at 3rd spot, and Canberra at 6th spot. The other cities in the top 10 in the global ranking were Copenhagen at 5th spot, Vancouver (7th), Wellington (8th) and Dublin (10th).

The least liveable cities were Baghdad at the last spot, Kabul (253rd) and Karachi (252nd).

ECA International is a membership organisation for international human resources professionals. It serves a global network of over 4,000 human resource professionals in 71 countries.

Saturday March 29, 2008 - The Star

JB may join Singapore MRT network

JOHOR BARU: Talks are being held with Singapore to extend the republic's Mass Rapid Transit (MRT) system here.

Mentri Besar Datuk Abdul Ghani Othman said yesterday that the site of the 30-year-old Bukit Cagar flats, to be demolished in the next two weeks, had been slated for the proposed Johor MRT station.

The talks were being held under the auspices of the Malaysia-Singapore Joint Ministerial Committee for the Iskandar Development Region (IDR).

“It has not been determined whether the line will start in Kranji or Woodlands.

“It doesn’t matter as long as the Johor line is connected with either one,” Abdul Ghani said, adding that he expected the project to start in two to three years.

Abdul Ghani said the MRT line would boost public transportation between Singapore and Johor Baru, as travel would be much smoother.

“It will also reduce traffic congestion along the Causeway, which has been a common problem for a long time.

On another issue, Abdul Ghani said the state government was currently in talks with government-linked companies such as UDA Holdings Bhd, Permodalan Nasional Berhad and South Johor Investment Corporation to invest in and salvage abandoned projects.

He said that out of 15 abandoned commercial properties in the state, Kemayan City and Pacific Mall would be revived first as both were more obvious eyesores compared with the others.

“I had a meeting this morning with the Iskandar Regional Development Authority and other government-linked companies to solve the problem of these two projects as soon as possible,” he said.

He said new investors in the IDR had also shown interest in reviving other abandoned projects.

THE STAR - Saturday April 12th 2008

Iskandar Malaysia project on track, says PM

JOHOR BARU: The Iskandar Malaysia project here will not be scaled down and the Federal Government is committed to seeing that it succeeds, says Prime Minister Datuk Seri Abdullah Ahmad Badawi.

“It is important that Iskandar Malaysia succeeds and we will continue to back the commitment. I am still the co-chairman of this development,” he said when asked if it would be scaled down to ensure long-term viability.

He said he was pleased with the inflow of investments into the project which was on track to achieve the target of RM47bil within the next two years.

Abdullah speaking during a press conference after being briefed on the progress of Iskandar Malaysia in Johor Baru Friday as Ghani (left) and Iskandar Malaysia CEO Datuk Ikmal Hijaz Hashim (third from left) look on.

“At the moment we have secured 70% with almost RM33bil in investments,” he told reporters after attending a three-hour briefing on Iskandar Malaysia's progress.

Abdullah reiterated Federal and state governments’ support for all ongoing projects in Iskandar and other economic corridors announced before the elections.

He also officially announced that the project, previously known as Iskandar Development Region (IDR), would be named Iskandar Malaysia with immediate effect.

“It is not a new development project but just the same project which has been renamed.

“There is no change in policy, commitment or the authority.”

Abdullah also announced that RM200mil had been allocated to build housing units in Iskandar Malaysia, saying it was one of the most important of Iskandar initiatives.

To be launched in the second half of the 9th Malaysia Plan (9MP), 2,000 units, with a minimum built-up of 850-900 sq ft per unit, would be built in the first phase of the housing development, he said.

On the progress of the project’s RM1.88bil infrastructure development, Abdullah said three projects had been completed while seven others were still under construction. Another six will start in June.

1st July 2008 - Million Dollars Home Purchase & above No Full FD

Effective 1 July 2008, new applicants who have purchased and owned residential property which were bought at RM1 million and above in Malaysia are eligible to apply for exemption from placing the full FD amount required of MM2H participants. They only have to comply with the basic financial requirement of FD or RM 60,000. This amount may not be withdrawn until the participants decide to terminate their participation in MM2H programme

1.The purchased residential property may be a fully-completed unit or one under construction. For any property purchased, applicants aged below 50 and those aged 50 and above must produce copies of payments made to developers, amounting to a minimum of RM 300,000 or RM 150,000 respectively, in place of the required Fixed Deposit under this programme. This amount does not include legal fees, transfer fees, commissions and any other related payments.

2.The property must cost a minimum of RM 1 million OR
3. Several properties totalling RM 1 million and above can be accumulated for this exemption.

4.The exemption may be considered for residential property which was bought within 5 years of application to participate in MM2H programme.

In line with the Immigration Circular No. 6 of 2009, the following improvements have been made to the Malaysia My Second Home (MM2H) Programme, with effect from 13 February 2009:

1. Qualified MM2H participants aged 50 and above with specialised skills and expertise that are required in the critical sectors of the economy, are allowed to work not more than 20 hours per week.

2. MM2H participants are allowed to invest and actively participate in business, subject to existing Government policies, regulations and guidelines which are in force for the relevant sectors.

3. Foreign spouses of Malaysian nationals are eligible to apply for MM2H, subject to the terms and conditions of the MM2H programme. Alternatively, they have the option to apply for the Spouse Programme.

4. The ten-year Social Visit Pass is extended to all Silver Hair and MM2H participants who were previously approved under the five-year Social Visit Pass, subject to the validity of their passports.

5. Employment Pass holders who wish to participate in the MM2H programme are exempted from the “cooling off period” on the condition that their application to participate in MM2H programme is submitted 3 months before the expiry of the Employment Pass.

6. ID-Cards will be issued to MM2H participants with permanent address in Malaysia. This is validated by submitting the Sales and Purchase Agreement or Tenancy Agreement in Malaysia.

7. Age limit of unmarried dependent children is raised from 18 years to 21 years. A declaration stating that the child is unmarried and all expenses during the stay in Malaysia will be borne by the principal participant of the MM2H program is required.

8. ‘Dependants’ include unmarried children aged 21 years and below, step-children, disabled children and parents.

PM: 30% Bumi quota for 27 sub-sectors business scrapped - April 2009

MALAYSIA - PUTRAJAYA: The government has removed the 30% bumiputera equity requirement for the 27 services sub-sectors with immediate effect in line with the Asean trade liberalisation and efforts to boost the services sector.
Datuk Seri Najib Razak said on April 22 the sub-sectors covered health and social services, tourism services, transport services, business services and computer and related services.
“There will be no more 30% bumiputera equity requirement for these sub-sectors,” he said at a press conference at the Prime Minister’s office.
The move to liberalise the services sector, which was first announced during the presentation of the Second Stimulus Package on March 10, was also expected to attract more investments, bring in more professionals and technology and strengthen the competitiveness of the sector.
Najib, who is also Finance Minister, said the government was intensifying its efforts, with the hope that the services sector will increase its contribution to the GDP to 60%.
The services sector contributed 55% to the gross domestic product in 2008, of which 47.6% came from non-government services. The sector also accounts for 57% of the total employment in Malaysia.
“Recognising the growth potential in the services sector, the government has decided to immediately liberalise 27 services sub-sectors, with no equity conditions imposed,” said Najib.
Prior to this, companies in the services sector must offer 30% of its equity to Bumiputera.
However, Najib did not include the financial services. When asked, he explained that the financial services liberation plan will be announced next week.
The government was confident these initiatives would not adversely affect the domestic services industry.
To help support the industry in capacity building and opening up of the export markets, a development fund of RM100 million was established under the First Economic Stimulus Package.
The fund will be run by Malaysian Industrial Development Authority (Mida). To facilitate investments in the services sector, a national committee for approval of investments has been created under Mida.
“This committee will act as a focal point to receive and process applications of investments in the services sector excluding financial services, air travel, utilities, economic development corridors, multimedia super corridor and Bionexus status companies and distributive trade,” said Najib.
According to him RM50.1 billion of investments in the services sector was approved in 2008, with foreign investments totaling 11%. For exports in 2008, RM102.1 billion was recorded while imported services amounted to RM99.8 billion.
“Malaysia recorded its first surplus in this sector in 2007. And according to WTO, Malaysia is among the 30 leading global exporters of services,” said Najib.
“The Malaysia External Trade Development Corporation (Matrade) has also been tasked to coordinate and spearhead all export promotion initiatives.”
To help develop Malaysia as an international Islamic finance hub, said Najib, the legal profession will be liberalised to allow up to five top international law firms with expertise in international Islamic finance to practise in Malaysia.
However, these firms will only be allowed to offer legal services in international Islamic finance.

SERVICES SUB-SECTORS FOR LIBERALISATION

Computer and relater services
1. Consultancy services related to installation of computer hardware
2. Software implementation services – systems and software consulting services; systems analysis services; systems design services; programming services and systems maintenance services
3. Data processing services – input preparation servies; data processing and tabulation services; time sharing servies and other data processing services
4. Database services
5. Maintenance and repair services of computers
6. Other services – data preparation services; training services; data recovery services; and development of creative content

Health and social services
1. All veterinary services
2. Welfare services delivered through residential institutions to old person and the handicapped
3. Welfare services delivered through residential institutions to children
4. Child day-care services including day-care services for the handicapped
5. Vocational rehabilitation services for the handicapped

Tourism services
1. Theme park
2. Convention and exhibition centre
3. Travel agencies and tour operators services (for inbound travel only)
4. Hotel and restaurant services (for 4 and 5 star hotels only)
5. Food serving services (for 4 and 5 star hotels only)
6. Beverage serving services for consumption on the services (for 4 and 5 star hotels only)

Transport services
1. Class C freight transportation (Private carrier license – to transport own goods)

Sporting and other recreational services
1. Sporting services (promotion and organization services)

Business services
1. Regional distribution centre
2. International procurement centre
3. Technical testing and analysis services – composition and purity testing and analysis services, testing and analysis services of physical properties, testing and analysis services of integrated mechanical and electrical systems and technical inspection services
4. Management consulting services – general, financial (excluding business tax), marketing, human resources production and public relations services

Rental/Leasing services without operators
1. Rental/leasing services of ships that excludes cabotage and offshore trades
2. Rental of cargo vessels without crew (Bareboat Charter) for international shipping

Supporting and Auxiliary Transport Services
1. Maritime agency services
2. Vessel salvage and refloating services

KUALA LUMPUR: With a jetset lifestyle and an extensive network of influential friends around the globe, Datuk Seri Jean Todt has the best credentials to help him in his role as Tourism Malaysia’s ambassador.

Todt, who is fiance to Malaysian actress Datuk Michelle Yeoh and was formerly Formula 1 Ferrari executive director taps into his contacts overseas to promote Malaysia.

“I would speak to influential people overseas about the country. Malaysians are low profile, so I’ll help them to speak about the beauty of Malaysia,” he said at An Evening with Tourism Minister Datuk Seri Dr Ng Yen Yen and Tourism Ambassador for Malaysia Datuk Seri Jean Todt at The Royale Chulan here last night.

Todt said he would also conduct familiarisation trips for selected groups of people in the hospitality industry and media, and bring them to various interesting spots in Malaysia.

“I’m very busy but I am happy to give a little contribution. As much as I can come (over), I’ll come,” he replied when asked if he has a fixed programme as a Tourism Ambassador.

Todt, who had always considered Malaysia as his second home even before he received the approval letter for the Malaysia My Second Home (MM2H) programme two months ago, lists Sabah and Sarawak as his next destinations to visit.

Though based in Italy, Paris and Hong Kong, Todt has recently bought a condominium at One KL, located adjacent to the Petronas Twin Towers.

Asked what was the best thing he loved about Malaysia, he promptly replied: “Michelle!”, drawing laughter from those present.

Pressed about the details of his impending marriage to Yeoh, Todt said: “We are living together and happy together. Time will come and tell.”

Dr Ng said the evening was very special as it was the first time the ministry invited top multi-national company leaders to dine with Todt.

“We have a big community of expatriates here. It’s about promoting MM2H as a lifestyle,” she said.

Thestar.com.my

MM2H: Up there among the top 12

THE Ministry of Tourism would like to thank J.H. of Penang for sharing his views on how we should promote the Malaysia My Second Home (MM2H) programme in "Second home: MM2H offers few benefits" ( NST, Aug 28).

The feedback is useful for us in charting our MM2H promotional strategies. Our promotional efforts are focused mainly on the Japan, Britain, the Middle East and China markets, which have higher returns or greater potential to attract more MM2H participants.

To increase participation, we do leverage on our overseas Tourism Malaysia offices, tourism ambassadors and MM2H agents as well as Internet marketing to raise awareness and promote the programme in potential secondary markets, including European countries.

From feedback from existing participants of the MM2H programme, we note that their choice of Malaysia was based on several factors.

These include Malaysia's tropical climate, value for money, affordable cost of living based on the premise of a comparatively good quality or standard of life, ample choice of residential accommodation, easy accessibility, vast opportunities to enjoy our nature, environment and recreational activities and the friendliness of the multicultural population.

Some of the features often cited as attractive to MM2H participants are the provision of a 10-year social visit pass (multiple entry) which can be renewed for as long as they abide by the terms and conditions of the programme; tax-and-duty exemption for import of personal vehicle from abroad or purchase of locally-assembled car; and tax-exemption on foreign income from abroad.

To further enhance the attractiveness of the MM2H programme, the government has recently allowed MM2H participants aged 50 years and above to work part-time (up to 20 hours a week).

In addition, MM2H participants are allowed to invest or engage in businesses in approved sectors of our economy.

The attractiveness of the MM2H programme compared with similar programmes offered by other countries is reflected in some of the surveys conducted by independent bodies.

For example, Malaysia is acknowledged as the top long-stay destination for the Japanese, as revealed by Japan's Long Stay Foundation's surveys.

Additionally, International Living.com, an online magazine, has ranked Malaysia as the world's 12th-best retirement destination.

# 12 Apr 2008 - Iskandar Malaysia project on track, says PM

May 12, 2010, Wednesday - Plenitude to expand its presence in Penang

Saturday March 29, 2008 - The Star

JB may join Singapore MRT network

THE STAR - Saturday April 12th 2008

Iskandar Malaysia project on track, says PM

PM: 30% Bumi quota for 27 sub-sectors business scrapped - April 2009

MM2H: Up there among the top 12