Hey bro Whoami,
Ok, found it:
Source:
http://www.bloomberg.com/apps/news?pid=20601087&sid=azdYa9FrJGLo
Last paragraph:
Approval from the government’s Foreign Investment Committee won’t be needed when a property owned by a Bumiputera is sold to an ethnic minority investor for less than 20 million ringgit, Najib said. Foreigners won’t need FIC approval to buy properties for more than 500,000 ringgit, up from 250,000 ringgit, he said.
Source:
http://www.breitbart.com/article.php?id=D99501800&show_article=1
Interesting read on the FIC.
Source:
http://www.epu.gov.my/web/guest/236
Found this one, so its not a rumour after all.
(c) Guideline on the acquisition of properties:
•Going forward, FIC will only process transactions involving the dilution of Bumiputera interests and / or Government interests in properties valued at RM 20 million and above, whether bought directly or indirectly (through acquisition of companies owning properties);
•All other property transactions shall no longer require the approval of FIC;
•Except in the event of a dilution, as stated above, foreign interests will no longer be required to apply for approval to FIC for the acquisition of properties. However, foreign interests cannot acquire properties below specified threshold limits. The threshold amounts for commercial properties will be RM 500,000. For the purchase of residential properties, the present threshold of RM 250,000 is maintained until the end of 2009, and with effect 1 January 2010, it will be RM 500,000;
Ok, found it:
Source:
http://www.bloomberg.com/apps/news?pid=20601087&sid=azdYa9FrJGLo
Last paragraph:
Approval from the government’s Foreign Investment Committee won’t be needed when a property owned by a Bumiputera is sold to an ethnic minority investor for less than 20 million ringgit, Najib said. Foreigners won’t need FIC approval to buy properties for more than 500,000 ringgit, up from 250,000 ringgit, he said.
Source:
http://www.breitbart.com/article.php?id=D99501800&show_article=1
Interesting read on the FIC.
Source:
http://www.epu.gov.my/web/guest/236
Found this one, so its not a rumour after all.
(c) Guideline on the acquisition of properties:
•Going forward, FIC will only process transactions involving the dilution of Bumiputera interests and / or Government interests in properties valued at RM 20 million and above, whether bought directly or indirectly (through acquisition of companies owning properties);
•All other property transactions shall no longer require the approval of FIC;
•Except in the event of a dilution, as stated above, foreign interests will no longer be required to apply for approval to FIC for the acquisition of properties. However, foreign interests cannot acquire properties below specified threshold limits. The threshold amounts for commercial properties will be RM 500,000. For the purchase of residential properties, the present threshold of RM 250,000 is maintained until the end of 2009, and with effect 1 January 2010, it will be RM 500,000;