The SC in its revised REITS guidelines which came into effect yesterday, has just announce some of the following measures to enhance the attractiveness of Bursa Malaysia as a destination for REIT listings and promote a vibrant and competitive REIT industry domestically and regionally:

REIT would now be able to acquire property under construction or uncompleted […]

Singapore-based CapitaLand Ltd has submitted its application to list its RM2bil real estate investment trust (REIT) on Bursa Malaysia. It’s chief investment officer Kee Teck Koon only expects to obtain the approval by the fourth quarter of this year. Assets to be injected into the trust will include Gurney Plaza in Penang, Mines Shopping Fair […]

Besides being tax exempted on the disposal of property to a REIT, a company disposing industrial building where initial annual allowances have been claimed to REIT will also not have any balancing charge.

S109D requires a REIT to deduct the necessary tax(26%) from the gross distribution and distributes the net amount to the non-resident company. The tax deducted has to be paid to the Inland Revenue within one month after distributing the net dividend. An account of the details of the recipient has to be accompanied with the […]

(a) Rental income from the letting of real property is a business source, hence any outgoings and expenses incurred in respect of the business are deductible. Note that any excess of expenses over income is not allowed to be set off in the current year or carried forward to next year of assessment which is […]

With effect from Year Of Assessment 2006, legal , valuation and consultancy fees in connection with the establishing REIT prior to the approval by the securities commission shall be given tax deductin in the year of assessment where the REIT commences business.[Income Tax(Deduction for Establishment Expenditure of REIT or Property Trust Fund) Rules 2006, PU(A) […]

There have been much talks amongst Malaysian real estate investment trust (REIT) players pertaining to the possible relaxation by the Malaysian Government on REIT’s rules so as to boost the industry’s profile among foreign investors and accelerate its growth.
They viewed that the relaxation of certain REIT’s rules are crucial to the development of the Malaysian […]