NEW MEASURES BY GOVT WILL FURTHER BOOST INVESTMENT IN PROPERTY SECTOR

KUALA LUMPUR, Nov 4 (Bernama) -- The new measures announced by the
government to stimulate the economy would help further boost investment in the
property sector, say developers.

Mah Sing Group Bhd's group managing director Leong Hoy Kum said the option
for employees to reduce EPF contribution by three percent for two years, would
enable greater disposable income to be available for spending on
housing.

"We hope that the people will take this opportunity to save and invest
wisely," he said in a statement here Tuesday.

Mah Sing Group's principal activities are investment, construction,
management and development of residential, commercial and industrial properties.
Other activities include manufacture, assembly and sale of a range of plastic
moulded products, investment holding and provision of management services. The
Group operates in Malaysia, Indonesia and other countries.

Meanwhile, the president of the Real Estate and Housing Developers'
Association (REHDA), Ng Seing Liong said that by putting more money in the
hands of the people, it would encourage investment in properties which is seen
as a good hedge against inflation.

Both Leong and Ng believed that the liberalisation of Foreign Investment
Committee (FIC) guidelines would encourage greater interest for foreigners to
invest in the country.

They also welcomed the government's move to abolish import duties for
cement, long iron and steel products for the construction industry as this would
translate into lower cost of building materials and help reduce the supply
shortage in the industry.
-- BERNAMA