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Tuesday, October 2, 2012

DRB-Hicom says Budget 2013 will curb property speculation

KUALA LUMPUR: DRB-Hicom Bhd welcomed the review of real property gains tax announced in Budget 2013 which would help curb property speculation.

“As a property developer, we also welcomed the various incentives that allow the middle-income group to own homes in major cities such Kuala Lumpur and Shah Alam,” group managing director Datuk Seri Mohd Khamil Jamil said in a statement yesterday.

Khamil: ‘We also welcome the announcement of various other incentives.’

He said the budget was a reflection of the Government’s emphasis on the well-being of the rakyat as it focused on education and provided various incentives to support human capital development.

“This is in line with DRB-Hicom’s focus to produce highly-skilled workforce for the country, particularly the automotive industry through initiatives such as the establishment of the International College of Automotive (ICAM) in Pekan that also takes in students from the lower and middle-income group,” Khamil said. ICAM, being the only automotive college established “by the industry, for the industry” in the region, will help elevate the entire automotive value chain and support Malaysia’s move to play a more significant role as an automotive hub in the region.

Furthermore, as a diversified conglomerate with over 52,000 employees, the company’s growth and sustainability are underpinned by its emphasis on human capital development, he added.

“We also welcome the announcement of various other incentives such as those on improving security and safety, and reduction of one percentage point in individual income tax.

“These incentives will lead to an increase in disposable income that will support economic growth and benefit DRB-Hicom since we are involved in three major sectors of the economy, namely the automotive, services and property,” he said.

By Bernama

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