Read more at https://www.channelnewsasia.com/news/asia/forest-city-johor-state-government-surprised-mahathir-comments-10659392
(Updated: )
Ricky Lim
"We are still trying to make sense of this new move as we have yet to be informed," Johor Housing and Rural Development Committee chairman Dzulkefly Ahmad was quoted by the Star on Tuesday (Aug 28) as saying.
"We already have in place a requirement that foreigners can only purchase properties worth RM1 million (US$244,000) and above."
On Monday, the 93-year-old prime minister declared that foreigners will not be granted visas to live in the S$100 billion Forest City development, which is a partnership between Chinese developer Country Garden and the Sultan of Johor.
--
See the inconsistency of one that shoot off the mouth - and did not check the policy of allowing foreigners can only purchase properties worth RM1 million (US$244,000) and above."
No wonder this has driven foreign investors to pull out their capital in big amount.
Portfolio investment saw a net outflow of RM38.3 billion, compared with an outflow of RM2.6 billion ringgit in the first quarter of 2018.
Source: Reuters
----- The capital outflow was 14.73 times higher.
"We already have in place a requirement that foreigners can only purchase properties worth RM1 million (US$244,000) and above."
On Monday, the 93-year-old prime minister declared that foreigners will not be granted visas to live in the S$100 billion Forest City development, which is a partnership between Chinese developer Country Garden and the Sultan of Johor.
--
See the inconsistency of one that shoot off the mouth - and did not check the policy of allowing foreigners can only purchase properties worth RM1 million (US$244,000) and above."
No wonder this has driven foreign investors to pull out their capital in big amount.
Portfolio investment saw a net outflow of RM38.3 billion, compared with an outflow of RM2.6 billion ringgit in the first quarter of 2018.
Source: Reuters
----- The capital outflow was 14.73 times higher.
Ricky Lim
A person who refuse to follow the rule of law --- will see it boomerang back.
One is not above the law.
Keep flip flopping - roti prata --- will see he lose more than he gain --- because no one will deal with a person that is unreliable, untrustworthy.
One is not above the law.
Keep flip flopping - roti prata --- will see he lose more than he gain --- because no one will deal with a person that is unreliable, untrustworthy.
Like · Reply · 1m
Justice Boa
Senile roti prata snake has just breach the rule of law & insulted the Johor Sultan. Foreign investors have lost confident & trust, are fleeing to the rest of asia countries to prosper them. From boleh to bodohland.
Like · Reply · 16m · Edited
Jalut Mos
Ricky Lim i think singapore are part of malaya penisula of malaysia. But the only things is when traders came to malaya and make barbarian behaviour and liars like gangster and money laundering that is where they took the place like theirs with arrogance and shameless. Steal the land and make money then go back to their countries. Thats call devils make evil job and work with satanic
Raymond Chan
Aha, Mahatir is now cancelling projects previously thought to be negative to Singapore. First the East West Coast Railway is meant to take away cargoes from Singapore. Ships will berth at Malacca and transfer their containers by rail to the east and ship again to the rest of asia. Second when Singapore reclaim P Tekong, Malaysia took the issue to UN but we won the case. Then they started to reclaim opposite Tuas almost touching the dividing line. They can do it nevertheless. To circurmvent international law they even reclaim the land into four islands. Now everything in limbo, Rejoice Singaporeans. Hope the HSR is also cancelled.
Ricky Lim
Berth at Malacca and transfer cargo by train - is not efficient.
Reason:- One ship container can carry more than 20,000 TEUs of cargo.
A rail can carry only 45 containers. Also depends on the weight of the cargo, the rail may not be able to take it.
Heavy cargo in container ship can float......
So how many trip the rail need to bring up 20,000 TEUs of cargo from the cargo ship in the port by rail?
Mathematically, 444 rail trips. By the time the cargo ship is fully unloaded, the sun rise and set don't know how many moons already loh .......
Reason:- One ship container can carry more than 20,000 TEUs of cargo.
A rail can carry only 45 containers. Also depends on the weight of the cargo, the rail may not be able to take it.
Heavy cargo in container ship can float......
So how many trip the rail need to bring up 20,000 TEUs of cargo from the cargo ship in the port by rail?
Mathematically, 444 rail trips. By the time the cargo ship is fully unloaded, the sun rise and set don't know how many moons already loh .......
Like · Reply · 1m
Ricky Lim
Ricky Lim
The reason why China want this - is merely as backup plan - in case Straits of Malacca got choked up by adversaries.
As for Johor plan for rich foreigners --- it could have a positive spillover effect on us --- if these rich foreigners come over to Singapore as tourists or invest in Singapore.
As for Johor plan for rich foreigners --- it could have a positive spillover effect on us --- if these rich foreigners come over to Singapore as tourists or invest in Singapore.
Like · Reply · 1m
Ricky Lim
It will have a similar Guangdong 9 cities plus HK, Macau and Singapore investment and development "Greater Marina Bay" effects.
Like · Reply · 1m · Edited
Ricky Lim
The rail link providing passenger commuters access make more sense - to facilitate travel.
Rail link to provide cargo access - commercially less efficient - as demonstrated by a trial of rail access to Europe.
Just only one trip ---- and the rail link for cargo stop --- because it is not efficient.
Rail link to provide cargo access - commercially less efficient - as demonstrated by a trial of rail access to Europe.
Just only one trip ---- and the rail link for cargo stop --- because it is not efficient.
Like · Reply · 1m
Michael Loh
I think they are trying to make sense of decision that was made by Najib, not Mahathir.
Like · Reply · 53m
Ricky Lim
In fact, this Johor Forest City establishment is more important to China - than the ECRL - and it also have both positive effects to Johor and Singapore.
With the RTS link - all these rich "million" foreigners in Johor will come in and out of Singapore easily - and a big boost to both Johor and Singapore Economy.
Now it is hanging in the balance.
With the RTS link - all these rich "million" foreigners in Johor will come in and out of Singapore easily - and a big boost to both Johor and Singapore Economy.
Now it is hanging in the balance.
Like · Reply · 1m
Adam Gelbe
That’s the Goverment needed in Singapore but unfortunately It doesn’t exist apparently ..
Ricky Lim
Adam Gelbe - Are you trying to say this new Government is needed in Singapore?
If yes you are digging a grave for Singaporeans to jump.
See what happen to Malaysia :-
"this has driven foreign investors to pull out their capital in big amount. ----- The capital outflow was 14.73 times higher since the new Government is elected.
Portfolio investment saw a net outflow of RM38.3 billion, compared with an outflow of RM2.6 billion ringgit in the first quarter of 2018.
Source: Reuters"
Malaysia's economy expanded at a much slower annual pace of 4.5 per cent in the April to June period, leading the central bank to cut its full-year growth forecast for Southeast Asia's third-largest economy.
The rate was well below the 5.2 per cent median forecast in a Reuters poll."
"Report: Investors not impressed with PH’s economic policies
FMT Reporters | July 10, 2018
The Nikkei Asian Review reports that capital outflow has increased and the ringgit and stock market are not doing well as the government has not come up with new economic policies that inspire confidence."
If yes you are digging a grave for Singaporeans to jump.
See what happen to Malaysia :-
"this has driven foreign investors to pull out their capital in big amount. ----- The capital outflow was 14.73 times higher since the new Government is elected.
Portfolio investment saw a net outflow of RM38.3 billion, compared with an outflow of RM2.6 billion ringgit in the first quarter of 2018.
Source: Reuters"
Malaysia's economy expanded at a much slower annual pace of 4.5 per cent in the April to June period, leading the central bank to cut its full-year growth forecast for Southeast Asia's third-largest economy.
The rate was well below the 5.2 per cent median forecast in a Reuters poll."
"Report: Investors not impressed with PH’s economic policies
FMT Reporters | July 10, 2018
The Nikkei Asian Review reports that capital outflow has increased and the ringgit and stock market are not doing well as the government has not come up with new economic policies that inspire confidence."
Like · Reply · 1m · Edited
Goh Jon Hin
Adam Gelbe
We wouldn't want a Double-headed Forked-tongue Roti-prata to govern our nation.
We wouldn't want a Double-headed Forked-tongue Roti-prata to govern our nation.
Ricky Lim
When investor pull out their investment - GDP will fall as business activities fall.
When this new Government try to stop all the projects - GDP will fall as development activities fall.
When business activities, investment spending, consumer spending and development spending fall --- GDP will be hit.
This is what is happening to Malaysia now.
You want such Government - to be running Singapore? I think it fringe on crazy or mad.
When this new Government try to stop all the projects - GDP will fall as development activities fall.
When business activities, investment spending, consumer spending and development spending fall --- GDP will be hit.
This is what is happening to Malaysia now.
You want such Government - to be running Singapore? I think it fringe on crazy or mad.
Like · Reply · 1m
Ricky Lim
Trade between Johor and Singapore will grow significantly with this input of close to 1 million rich foreigners in Johore.
This rich foreigners will definitely want to buy higher value goods that Singapore can supply and trade between Johore and Singapore will grow.
This will boost both Johore and Singapore Economy.
This rich foreigners will definitely want to buy higher value goods that Singapore can supply and trade between Johore and Singapore will grow.
This will boost both Johore and Singapore Economy.
Like · Reply · 1m
Peter Pang
Ricky Lim Bro, I honestly thought it was more of a sovereignty issue. lol. 70% x 700,000 CHINA Chinese leh.
Ricky Lim
Peter Pang - In the 1st place, Malaysia law say foreigners can buy RM$1million properties in Malaysia.
(2) Developer investors come with this understanding and build.
(3) Now in the middle of building, new government say cannot that it break law.
One day like this - one day like that.
Then Malaysia cannot blame foreign investors pulling their investment out of Malaysia wor.
"this has driven foreign investors to pull out their capital in big amount. ----- The capital outflow was 14.73 times higher since the new Government is elected.
Portfolio investment saw a net outflow of RM38.3 billion, compared with an outflow of RM2.6 billion ringgit in the first quarter of 2018.
Source: Reuters"
(2) Developer investors come with this understanding and build.
(3) Now in the middle of building, new government say cannot that it break law.
One day like this - one day like that.
Then Malaysia cannot blame foreign investors pulling their investment out of Malaysia wor.
"this has driven foreign investors to pull out their capital in big amount. ----- The capital outflow was 14.73 times higher since the new Government is elected.
Portfolio investment saw a net outflow of RM38.3 billion, compared with an outflow of RM2.6 billion ringgit in the first quarter of 2018.
Source: Reuters"
Frank Kam
Already got 1 foot in the mouth, now the old snake wants to put the other foot in !!
Hahaha....! LOL !!!
Hahaha....! LOL !!!
Like · Reply · 4m
Ghim Her Tan
Let the Malaysian decide whether the old chilli padi got substance or not. Or he's just paving a way for Anwar to continue.
Like · Reply · 12m
Perceived Tobe
the Johor Housing and Rural Development Committee should know what Mahathir wants...
Like · Reply · 9m
John Low
It is die standing for the Chinese who have invested in Forest City. They are begining to realize that they are dealing with a slippery snake whose words cannot be relied upon or trusted at all.
The Chinese developer can build Forest City and sell their units to foreigners, except the people that stays in Forest City are Malaysian. For Singaporean this is less of a problem, we can go there stay one week and return to have our passport stamped.
The headache for the investors in Forest City is that their return won't be that lucrative. Forest City is a marvellous development that will benefit Malaysian as well as Singaporean. Hopefully future Malaysia administration could allow Singapore to build a bridge or MRT directly to Forest City.
The Chinese developer can build Forest City and sell their units to foreigners, except the people that stays in Forest City are Malaysian. For Singaporean this is less of a problem, we can go there stay one week and return to have our passport stamped.
The headache for the investors in Forest City is that their return won't be that lucrative. Forest City is a marvellous development that will benefit Malaysian as well as Singaporean. Hopefully future Malaysia administration could allow Singapore to build a bridge or MRT directly to Forest City.
Hyun Sun Shin
A blanket ban is bad decision. Maybe its time to revise upward the RM1,000,000.00 to Rm2,000,000.00 and further restriction to only 10% of the total numbers of units build within the development.
Milton Molten
Mahathir like Trump will bring greatness back to their countries. Give them time and time will tell. Every action taken is for the good of their countries, they personally did not benefited from all their action. America need to be back and be the world leader after years of lacking behind China under Obama administration. Malaysia need to improve their people life after years of neglect in playing money politics and enriching among themselves. All this cannot happen in a year or two, just give them time and support their decisions.
Like · Reply · 10m
Ricky Lim
America no longer the world leader.
No Countries in the World is looking up at America as world leader since Trump took over.
Trump is looking at 4.9 trillion own trade to grow his people's wealth.
The World Economy is $41.6 trillion in trade. Many Countries are now forming multi-lateral trade deals to compensate loss in trade with US.
If you think US under Trump can grow his people wealth - open the eyes and see.
Trump is driving US debt into US$21 trillion, - wonder how US people is going to repay all the debt.
When a Country under Trump - unable to collaborate and cooperate with other Countries to create wealth and want to do it on its own or force it on others --- in return - Trump will make himself poorer.
This will be the same for this old chap - who want to follow Trump's footstep.
No Countries in the World is looking up at America as world leader since Trump took over.
Trump is looking at 4.9 trillion own trade to grow his people's wealth.
The World Economy is $41.6 trillion in trade. Many Countries are now forming multi-lateral trade deals to compensate loss in trade with US.
If you think US under Trump can grow his people wealth - open the eyes and see.
Trump is driving US debt into US$21 trillion, - wonder how US people is going to repay all the debt.
When a Country under Trump - unable to collaborate and cooperate with other Countries to create wealth and want to do it on its own or force it on others --- in return - Trump will make himself poorer.
This will be the same for this old chap - who want to follow Trump's footstep.
Like · Reply · 2m · Edited
Goh Jon Hin
Ricky Lim
You are too kind in describing Trump's actions and tactics.
Put it bluntly, he's trying to force the rest of the world to go down on their knees, thereby able to rob them to enrich US.
You are too kind in describing Trump's actions and tactics.
Put it bluntly, he's trying to force the rest of the world to go down on their knees, thereby able to rob them to enrich US.
Reply · 2h
Ricky Lim
Goh Jon Hin - This is exactly what Trump is doing now.
The World need not submit to him - by collaborating and cooperating to make good multi-lateral deals and leave out Trump.
The World GDP is US$78.28 trillion in nominal terms and totalled approximately US$107.5 trillion in terms of purchasing power parity (PPP).
US is only US$19 trillion in GDP.
By leaving out US, the world have about US$80 trillion GDP of market to trade and do business with.
Do Trump need the World market more or does Trump think that he can bring the whole World to his knee?
Yes the World will feel pain while doing so, but once the World has formed good trade multi-lateral trade deals and alliances ---- probably Trump will have to go down on his knees if he can live that long.
The World need not submit to him - by collaborating and cooperating to make good multi-lateral deals and leave out Trump.
The World GDP is US$78.28 trillion in nominal terms and totalled approximately US$107.5 trillion in terms of purchasing power parity (PPP).
US is only US$19 trillion in GDP.
By leaving out US, the world have about US$80 trillion GDP of market to trade and do business with.
Do Trump need the World market more or does Trump think that he can bring the whole World to his knee?
Yes the World will feel pain while doing so, but once the World has formed good trade multi-lateral trade deals and alliances ---- probably Trump will have to go down on his knees if he can live that long.
Unker Will
I suspect Mahathir did not get a good deal with China during his visit there, angry with them and came back retaliate at China.
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