Some Memories

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Felda appoints bankers for US$2b IPO KUALA LUMPUR (Oct 24, 2011) : Malaysian plantation company Felda Global Group has hired bankers for an initial public offering that would raise as much as US$2 billion next year, sources with knowledge of the deal said, in the third-largest IPO in the country's history. The IPO would raise RM5 billion to RM6 billion ringgit (US$1.6-US$1.9 billion), two sources told Reuters , making it the biggest since the US$4.1 billion IPO of Petronas Chemicals Group Bhd a year ago. A source with direct knowledge of the matter told Reuters today that Felda has hired CIMB Investment Bank, Maybank Investment Bank and Morgan Stanley to be joint global co-ordinators, while JPMorgan and Deutsche Bank are joint bookrunners. Deutsche and Morgan Stanley declined to comment while Maybank IB and CIMB could not provide an immediate comment. JP Morgan could not be reached for comment. Proceeds from the IPO will go towards expanding its core businesses, Felda G

ASM 2011 dividend 6.38 cents On 17th March 2010, Amanah Saham Nasional Bhd (ASNB) announced 6.38 sen dividend per unit of Amanah Saham Malaysia (ASM) for the financial year ended 31st March 2011. ASW 2020 2011 dividend 6.5 cents Amanah Saham Nasional Bhd (ASNB), announced a dividend of 6.5 sen per unit for the Amanah Saham Wawasan 2020 for the financial year ending 31st August, 2011. AS1M 2011 dividend 6.5 cents Amanah Saham Nasional Berhad (ASNB), announced a dividend of 6.50 sen per unit for Amanah Saham 1Malaysia (AS 1Malaysia) for the financial year ended 30th September 2011.

Budget 2012 also proposed that a real property gains tax (RPGT) of 10% be applied to properties held and disposed of within two years. Meanwhile, the rate of 5% will be maintained for properties sold within the third, fourth and fifth years after purchase. The current RPGT, imposed after Budget 2010, is 5% for all properties sold within the first five years of purchase. Following the budget announcement, industry observers opined that the 5% increase in the RPGT, for units sold within the first two years after purchase, would have little impact on speculative activities in the property market and escalating house prices. Source: The Star

Boost from KL International Financial District THE Kuala Lumpur International Financial District (KLIFD) is a key enabler to strengthen the position of Kuala Lumpur as the global financial city of choice, transforming Kuala Lumpur into an international hub for banking and finance as well as related professional services. KLIFD has been identified by the Government as an Early Entry Point in its comprehensive Economic Transformation Programme to more than double per capita income by 2020. The Government wholly owns 1Malaysia Development Bhd (1MDB), the master developer for KLIFD. The RM26bil project is located in the heart of Kuala Lumpur's southern tip. It sits on 75 acres encompassed by Jalan Tun Razak, Jalan Sultan Ismail and the Putrajaya elevated highway. It will be overseen by 11 local and foreign consultants appointed by 1MBD to push forth its development. In March, 1MDB carried out a pre-qualification and request for proposal process through its subsidiary 1MDB Real Estate S

Hope there is more opportunity like this for the low to middle-income earners  to buy house. The house pricing are soaring like mad now. Affordable homes for the masses Various initiatives have been put in place under Budget 2012 to make house ownership more affordable. The maximum price of houses under the My First Home scheme will be increased to RM400,000 from RM220,000, and eligibility will be through joint loans of husband and wife from January 2012. The 1Malaysia People's Housing (PR1MA) will be the sole agency to develop and maintain affordable and quality homes, especially for the middle-income group, and it intends to develop several plots of government-owned land around Sungai Besi and Sungai Buloh for this purpose. PR1MA will also develop areas near public transport system lines, such as the MRT and LRT, for housing. The Government will waive stamp duty on loan instruments for the purchase of PR1MA houses. To prevent the risk of delayed and abandoned housing projec

I'm sincerely looking forward to the 10% abolishment one day. Look at Singapore and Hong Kong - they don't tax for this. 10% tax on REIT dividends extended 5 years The Government has extended the concessionary tax rate of 10% on dividends of non-corporate institutional and individual investors in real estate investment trusts (REITS). The incentive, which expires on Dec 31, will be extended for five years, starting from Jan 1 next year to Dec 31, 2016. "We are very happy with the extension as there was a lack of clarity on what would happen after the expiry,'' said Malaysian REIT Managers Association (MRMA) and Axis-REIT Managers Bhd CEO Stewart LaBrooy. "Earlier, there were concerns as no announcements were made while the date of expiry was drawing close. Now that it has been extended, we can go back to business as usual." Mah Sing Group Bhd managing director Tan Sri Leong Hoy Kum said this would promote domestic participation and attract foreign i

- Last year our FDI growth was the strongest in Asia and in the first 6 months of this year have already reached RM21.2bil - In 2012, private investment is forecast to climb 15.9%, supported by foreign and domestic investment - GDP in the first 6 months of 2011 was 4.4%, driven by strong domestic consumption - In 2011, the economy is forecast to grow by 5-5.5% - Private and public investment are forecast to increase by 15.9% and 7%, supported by foreign investment, the ETP and 10MP - In 2012, the service sector is expected to grow 6.5%, the construction sector 7% and GDP is forecast to be between 5 and 6% - Budget 2012 allocates RM232.8bil for Government plans, including RM181.6bil for management and RM51.2bil for development - RM29.8bil has been allocated for investment in infrastructure, industrial and rural development - RM13.6bil has been allocated for the social sector, including education and training, welfare, housing and community development - Total r

Good deal from AirAsia this time. Booking Period :  5 October 2011 - 12 October 2011     Travel Period :  16 December 2011 - 27 October 2012     Fly from Kuala Lumpur International Airport (LCC Terminal), Kuala Lumpur to: International All-in-fare from Vietnam Da Nang RM 69.00   Special discount for Citibank AirAsia credit card holders at RM 59.00.

Booking Period : 26 September 2011 - 30 September 2011 Travel Period : 03 May 2012- 27 October 2012 Fly from Kuala Lumpur International Airport (LCC Terminal), Kuala Lumpur to: