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Monday, September 3, 2018

Foreigners welcome in Forest City project: Johor minister
Read more at https://www.channelnewsasia.com/news/asia/forest-city-johor-foreigners-welcome-country-garden-minister-10682662
04 Sep 2018 01:00PM (Updated: 04 Sep 2018 01:30PM)

Ricky Lim

So now there are 2 inconsistent policies.
"One thing is certain, that city that is going to be built cannot be sold to foreigners," Dr Mahathir said at a news conference in Kuala Lumpur in response to a question from Reuters.
"The Johor government believes that Malaysia has comprehensive laws that protect the rights of foreign investors and companies, including purchasing property," Mr Osman told a briefing.
“The Johor government believes that the federal government is able to be fair in protecting foreign companies that run operations in Malaysia," he said.

So wonder how does foreign investors and buyers - decode these 2 sets of policies?
Will foreign investors and buyers interests be safeguarded.

Seems like it is a big risk to foreign investors and buyers.

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Ricky Lim

What that Thum and some misgiven Singaporeans - say want to emulate this Dr M as "beacon of democracy for SE Asia" - and want Singaporeans to emulate him.

Emulate what?

How to roti prata and flip flop ah?

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Ricky Lim

Wonder how many Singaporeans got trap in buying these properties?

Singaporeans have not learned the lesson during this Dr M's time - when Singaporeans are forced to pay RM$100,000 for property bought in Malaysia.

Now is even worst - Dr M say foreigners can buy but not allowed to own the property bought in this Forest City project.

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James Koot Poon Wei

yes, they can buy but govt won't be granting them visa to stay in malaysia.

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Goh Jon Hin

Can Johor threaten to pull out of the Federation? Johor is good enough to stand on its own and has an excellent neighbor in SG.

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Tokay OH

If I remember correctly, the govt of boleh land did simply introduced new rules on property purchases and applied them retrospectively. This creates a big uncertainty on your purchase/investment. Dr M just has to introduce a rule that properties purchased by foreigners can only be resold to the locals and that is enough to kill your investment. Anyway I won't be thrilled to know that two thirds of my neighbours are from China.

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Soon Hoe Quah

Mahathief, how does it feel to be hit instead of always hitting others!!!

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KT Tan

Sigh. Either way....I am thinking why the offiicial direct quote statement uses "believe", as it could trigger potential uncertainties or discrepancies...

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Unker Will

I think Mahathir when first made the annoucment of no foreign buyer, he was actually targetting the Mainland Chinese buyers and he is still targetting them. Although now foreigners are welcomed but there is a way to curb these Chinese from buying by not granting them VISA to stay. He may have gotten Pres. Xi's blessing to do that when he visited China because China is also trying to stop their cash flowing out overseas.

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Ho Chee Keong

happy say can buy
not happy say cannot buy
buy already wait go holland

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Lau Lan Chu

Who dare buy?

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Jm Chow

Malaysia has a visa MM2H called "My second home" visa.... for wealthy foreigners to live in Malaysia for up to 10 years initially (renewable with no limits) with unlimited entries, ..visa issued to those foreigners who have liquid assets worth a minimum of RM500,000 and an offshore income of RM10,000 per month.

Currently, over 23,000 people have gotten approval and issued with the MM2H visa ...including many retirees from Singapore.

However, on Aug 27 ...Dr M declared that foreigners will not be granted visas to live in Johor,... even if they bought a property in Forest City in Johor and have the requisite qualifications for MM2H visa.

As the PM of Malaysia, Dr M has the power to do so...to make impromptu decision during press conference...with foreign media ( Dr M must have made the decision ...because of his long time feud with the Sultan of Johor.)

Has Dr M declaration ...made the visa MM2H held by those 23,000 foreigners invalid...they have to leave Malaysia soon ?
So far ...they have not been told to leave Malaysia.

Now... the Chief Minister of Johor (Dr M's kaki) said " He believes, Malaysia has comprehensive laws that protect the rights of foreign investors including those who purchase property in Johor..."

'His belief' ....contradicts with the declaration by Dr. M.
Who will prevail, Dr M or Osman ?
Dr M, of course.

I must say...Osman is clever...refusing to clarify whether or not.. his boss Dr M has reversed his decision..and now allow those foreign buyers of property in Johor...to have MM2H visa for 10 year long term stay or longer.

Pending a clarification from Dr M himself...it is wise for Singaporeans to stay away from the Forest city project.

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