SHAREDA: GST Impact on
Housing
The impact of Budget 2014 will be less in Sabah
compared to Peninsular Malaysia, especially in
comparison with Iskandar, Penang and Klang Valley
according Chew Sang Hai, Deputy President of
the Sabah Housing and Real Estate Developers
Association (SHAREDA).
He said the real estate industry contributed between
10% to 12% to the gross domestic product (GDP)
and property development industry played a more
significant role in less developed states compared to
developed states.
The real estate industry plays a more significant
role as contributor to GDP in Sabah and Sarawak,
compared to Kuala Lumpur where the service
industry constituted a big chunk of the industry.
“The impact of government legislation is higher in
more speculative market and vice versa,’ Chew said.
SHAREDA held a talk themed ‘What the Captains
Say’ last month which focused on the impact of the
Budget 2014 towards Sabah’s real estate industry.
Pacific Heights Sets New Standards for Sabah
The launching of Pacific Heights in Likas
The team behind PacifiCity has upped the
ante in Kota Kinabalu, redefining luxury and
convenient living with the launch of Pacific
Heights the first residential tower at the
Likas Bay project.
Setting itself apart from other developments
all units at Pacific Heights are sold fully
furnished, presenting buyers with unrivaled
value in the much sought after Likas Bay
area.
Built and designed with discerning
homebuyers in mind, Pacific Heights offers
two, three and four bedroom apartments
with built-up areas of between 1060 sq ft to
3450 sq ft.
The developers worked closely with their
architects to create a functional living space
and with interior designers to provide décor
and furnishings that speak of distinction.
A Sad Time for Sabah Tourism: Masidi
He said, “It is a sad time for Sabah and our
tourism industry. We are devastated by the
loss of of the life of victim and hope the
authorities will be able to solve the case
soon.”
The talk aimed to provide a better understanding
of Budget 2014 and its impact towards the real
state industry. It also highlighted the forthcoming
implementation of the goods and services tax (GST)
and real property gain tax (RPGT).
He was commenting on the incident
involving a Taiwanese tourist, Li-Min Hsu,
57, who was shot dead and his wife, An-Wei
Chang, 56, who was kidnapped.
Chew said the implementation of GST will impact
affordable housing. But he assured that SHAREDA
is still committed to build 10,000 units of affordable
homes in the next five years, priced at RM250,000 for
850 sq ft per unit.
Michael Tong, partner of Crowe Horwath Chartered
Accountants and member of Crowe Horwarth
International presented a paper on ‘Understanding
Budget 2014’ followed by a session by Liew Kui
Choi, President of the Association of Bankers Sabah
and Liaw Lam Thy from the Royal Instituition of
Surveyours Malaysia (Sabah Branch).
Datuk Seri Panglima Masidi Manjun
Sabah Tourism, Culture and Environment
Minister Datuk Seri Panglima Masidi Manjun
express his sadness about the murderkidnap incident at the rest island last
November at Pom Pom island, Semporna.
“This incident, as well as the loss of our
security personnel in the previous Kampung
Tanduo incident, are the challenges and
surprises that we should be ready to face.
it is a tragic incident but it would be more
tragic if we do nothing to make the industry
grow, he said.
He added: “We have worked hard to achieve
what we have today and we will continue
to work harder, especially in making 2014
another successful year for our tourism
industry.”
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