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[Malaysian Reserve] Matrix concepts hopeful for tax ease in Budget 2016

Kavithah Rakwan

Property developer Matrix Concepts Holdings Bhd hopes the government will reduce personal income taxes to a ceiling rate of 20% from 26% currently.

Group MD, Datuk Lee Tian Hock said this would grant public a higher disposable income taxes which is a key factor in sustaining economic growth.

“Furthermore, a reduction in corporate taxes to 20% from 24% currently would assist corporations to better manage their cashflows during periods of economic and currency volatility, as well as ensure continued capital and operational expenditure for long term business sustainability,” Lee said recently.

The cooling effects implemented by the government since Budget 2014 has led to a slowdown in new sales in the property market over the past two years.

Thus, lending policies for new home buyers should be eased to encourage ownership of their first property, particularly for those in the middle income bracket, Lee said.

“This would also spur more demand and transactions, benefitting all stakeholders in the property market,” he said.

On the socioeconomic environment, Lee said the group is hopeful the government would firmly address domestic ethnic tensions as a harmonious nation would lead to higher business confidence, thus attracting both local and foreign investors as well as boosting the economic health of the country.

“Additionally, we look forward to the reinstatement of English as the language medium for teaching Mathematics and Science in schools.

“Strong proficiency in the English language would enhance the competitiveness and job readiness of the nation’s youth, as well as better prepare them to face the highly demanding global economy,” he added.

Matrix Concepts is a Negeri Sembilan property developer with integrated township of Bandar Sri Sendayan in Seremban comprising residential properties, Sendayan TechValley industrial park, and Matrix Global Schools.