Top Story : Property – MREITs – The wish list for the 2011 Budget Overweight
Sector Update
- For the upcoming Budget 2011, we expect withholding tax rate for local and foreign individual MREIT unitholders to be reduced/removed from the current level of 10%, vs. 0% in Singapore and Hong Kong. We believe this is a necessary move to attract foreign interest and gradually align MREITs with SREITs. Note that the tax structure has not been adjusted since 2008. Last year, RPGT was re-imposed (to curb speculative buying in real estate), but no announcement was made on the REIT sector.
RHB Equity 360° - 14 September 2010 (MREITS; Technical: IJM)
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