Sabah developers' association calls for more measures to reduce cost of doing business

Shareda president Datuk Chua Soon Ping.

KOTA KINABALU: The Sabah Housing And Real Estate Developers Association (Shareda) is calling for more measures and incentives from the government to lower the cost of doing business in the post-pandemic economic recovery budget.

Its president Datuk Chua Soon Ping said this was vital to help curb the rising cost of operating businesses but also to help businesses sustain and move forward post pandemic.

“It has been very tough and challenging for all business sectors to survive as we were all impeded badly during the past two years forcing us to adapt to changes following the pandemic,” he said in a statement Thursday (Oct 28).

“We are hopeful to ride out of the storm as the government has started opening doors to businesses as we enter into the next phase of achieving higher levels of herd immunity within our workforce and community,” he added.

Chua believes that the authorities are looking into implementing a friendly and workable framework of good governance in planning policies and in providing businesses with solutions to curb rising operational costs, particularly for the private sector.

He hoped that leaders and authorities would listen and consult stakeholders’ opinions to contribute to the rebuilding and recovery of the nation’s economy.

Chua also hoped there would be assistance rendered to the property sector, including extending the home ownership campaign by another six months and continuing the MyHome Scheme for first time homebuyers purchasing affordable housing.

“Shareda urges the government to continue allocating RM300mil or more for the purpose of building 10,000 units or more of affordable homes in the country,” Chua said.

“This will encourage the private sector to participate in building more affordable homes under the MyHome scheme which offers incentives up to RM30,000 per home unit for buyers,” he said.

He also proposed for the real property gains tax to be reviewed or waived due to the sluggish market, to relax lending policies by banks and to streamline the MM2H (Malaysia My Second Home) programme guidelines, threshold price and incentives for foreign property investors.

“We believe that this is the right time for our Chief Minister Datuk Seri Hajiji Noor to make the right decision and introduce an investor-friendly policy to help boost our economic recovery and pave the way for tourism growth in Sabah,” Chua said.

“Shareda has full confidence in the state administration to make wise and holistic decisions on these matters for the benefit of Sabah,” he added.