Real Estate investment may go into Malaysia

Just got word from Njib Razak in Malaysia. He's the finance minister and he says parliment plans to make it easier for foreigners to purchase Real Estate. He is also cutting economic growth forcasts for 2009 to 5.4 Percent. He says he does not think the country will slide into a recession unless the fear of stock exchange drops in other countries makes them afraid to invest and spend. Once again we are hearing the "Fundementals are solid" rhetoric that the politicians have to espouse.

There was some relaxation of the rules in April this year. That increased Real Estate sales to People from Singapore, China and some other countries but if they want me to be a player they need to make it easier to get approval from the Foreign Investment Committee. All that paperwork is daunting and the lawyers don't come cheap. I'll have to see if I can make it to parliament on 4 November to get more details of the plans.