Tax breaks to buy first home
By THE STARThis is the first of a three-part question-and-answer series provided by PricewaterhouseCoopers for The Star readers on various aspects of Budget 2009.Q: My husband and I plan to buy our first house next year. I heard from my friend that there are some exemptions proposed in the 2009 Budget which can help us [...]
50% stamp duty waiver
By THE STARTHE Government has proposed that the 50% stamp duty exemption be extended to loan agreements to further reduce the cost of buying medium-cost houses of up to RM250,000.Before that, a 50% stamp duty exemption was given only on the instrument of transfer for the purchase of medium-cost houses.At present, buyers of low-cost houses [...]
Tax rate cut set to buoy REIT industry
By THE STARREAL estate investment trusts (REITs) received a much-needed boost in Budget 2009 as the Government seeks to make them more attractive through the reduction of the withholding tax on dividends to 10%.Under the proposals, the tax rate for foreign institutional investors would be halved to 10% while the rate was cut from 15% [...]
IOI to pay RM587m for Inverfin
By BERNAMAKUALA LUMPUR: IOI Corp Bhd has inked a conditional agreement with three vendors to acquire Inverfin Sdn Bhd for RM586.73mil.The vendors are Menara Citi Holding Co Sdn Bhd, CapitaLand Ltd and Amsteel Corp Bhd, which own 50%, 30% and 20% stakes respectively in Inverfin.IOI told Bursa Malaysia yesterday: “The purchase price was arrived at [...]
‘Good initiatives for people but more can be done for REITs’
By BUSINESS TIMESBUDGET 2009 is announced amid very challenging times in view of the rising food and energy costs.The government has introduced various measures to help increase disposable income to mitigate the impact of the higher cost of living, thus demonstrating that it is a caring government.* Enhancing training and skills programmes is a timely [...]
IOI Corp agrees to buy owner of Menara Citibank
By BUSINESS TIMESThe proposed purchase of Menara Citibank’s owner, Inverfin, is a rare opportunity and strategic move for the plantation group to buy a Grade A investment property, says IOI CorpPLANTATION group IOI Corp Bhd has agreed to buy Inverfin Sdn Bhd (ISB), the owner of 50-storey Menara Citibank in Kuala Lumpur, for RM586.7 million [...]
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