Bumiputra discounts for luxury homes in S’gor should be slashed

Tony Pua, the DAP Member of Parliament of Petaling Jaya Utara has called on the Selangor state government to cut the discounts of luxury homes and commercial properties in the state for bumiputras which will then improve competitiveness as well as restore the confidence of investors to Selangor. This came in the wake of recent reports that the FDI (Foreign Direct Investments) of Malaysia plunged to a staggering 81% for 2009.

Pua said “Sacred cows need to be slaughtered. The seven per cent discounts enjoyed by Malays and other Bumiputeras should be retained for homes below RM500,000. I am not against affirmative action but not for homes that cost RM1 million or RM2 million. No discounts should be given for commercial property above RM2 million. Effectively these units are being bought by middlemen, with a seven per cent discount, and then re-sold for profit of two per cent. Selangor had between 50 and 80 state-linked companies, all of whom are involved in property development. Although they are established for specific purposes but all are involved in property development because they can get cheap land from the state.



comments


This is how UMNO ruled the country and right now, the country is really heading for bankruptcy !!!!


While Singapore’s economy is thriving and grew by 18.1 % , it is alarming that Malaysia’s FD1 is plunging seriously.

In 2008, our FDI was RM:23.47 Billion while our capital outflow was RM:48.06 Billion ( more than 2 times )
In 2009, our FDI plunged to RM:4.43 Billion but our capital outflow was more than 6 times the FDI , amounting to RM:25.77 Billion.
These figures was released by world investment report 2010 on 23/July/2010.
So the issue of our country going bankrupt soon is real and coming soon !!!!

Anybody for that matter who can afford above 1 million houses should pay extra 7% to subsidise the poor to buy low cost flats or houses.

why built a 24 million mansion just to house a Toyol, why not built a 24 million flat to house the poor? confiscate those corrupter's mansion and monies then built houses for the poor or rent and buy later.

By the way, did the Agong requested for a new Istana?


all bumi-discounts should be slashed because:

the rich don't need them and the poor have no money to buy them with or without discount!