China and US, different but similar

The US and China are said to practise very different systems, but only if the details are excluded.

THE world’s two biggest economies exercised the selection of their next leaders just two days apart.

The international media made the usual observation that here were two systems working in ways that could not be more different. That is valid only up to a point, beyond which it only obscures the realities of the US and Chinese systems.

Externally, US democracy is said to offer citizens a choice of government every four years. If an incumbent fails to deliver as promised, voters can vote him out the next time.

China’s one-party system undertakes no regular elections for the public. Every 10 years, the Communist Party meets at a National Congress to identify the country’s next president and prime minister.

The common implication is that while the US system offers freedom of choice, China’s does not. These contrasting stereotypes become fuzzy in practice, however.

The US system sets two presidential terms of four years each as the limit for any individual. If an incumbent opts for re-election, his party is unlikely to entertain any challenger from the party’s ranks.

Thus the party’s candidate is predetermined, beyond the control of even party members. For the other party, some jostling among prospective candidates precedes the eventual candidate, over which ordinary party members may have no choice.

For both parties, money and party machinery (monetised infrastructure) are prerequisites. Any candidate, whether from one of the two main parties or any other, can have no hope of seriously running for the presidency without the vast financial backing required.

That is why in the US and many other Western democratic systems, the choice voters have is only one out of two parties. Third, fourth, fifth and other parties have no real chance, regardless of the value of their policies or the virtues of their candidates.

The supposedly free mainstream news media is also an accessory to this limitation. They give alternative parties scant print space or air time, on the premise that they have little clout, which ensures that they continue to have little clout.

The result is that when either the Republi­can or the Democratic Party wins the presidency, they differ little in the flesh. With hardly any alternative ideas penetrating this political establishment, Republicans and Democrats tend to become more conservative.

As far-right neo-conservatives entered the fray in the 2000 election, both parties moved further to the right. Critics describe the two main parties as merely two wings of the same party, or as being two right wings of the Republican Party.

The US presidency is also the choice of the system rather than of the people. The eventual winner is “elected” by the electoral vote of the Electoral College, rather than the popular vote of ordinary voters.

There are currently only 538 members of the Electoral College who decide on the next president and vice-president out of a choice of two teams. The candidacy that can secure 270 votes wins the White House.

In China, 2,270 delegates of the Communist Party meet at the National Congress every five years to elect the party’s highest decision-making body, the Central Committee (CC). Some 350 members of the CC then decide on the party’s General Secretary and members of the Politburo, Standing Committee and Central Military Commission.

The CC is said to experience high turnovers at election time. In each of the past half-dozen national congresses, more than 60% of committee members have been replaced.

There has also been no shortage of candidates, particularly for this year’s 18th National Congress. It was the first time that nominees for the 2,270 party delegates had been assessed, with candidates continuing to outnumber the available slots.

At this latest National Congress, both a new CC and a new Central Commission for Discipline Inspection were elected. The Communist Party’s Constitution is also being amended, with the main themes being intra-party democracy and fighting corruption.

The governing party’s Standing Committee has also sought the views of other political parties in China on the draft report for the 18th National Congress. President Hu Jintao, as party General Secretary, pledged to strengthen cooperation with the other parties.

Beijing has thus become a magnet for journalists during the week more than for previous National Congresses. More than 1,000 international journalists gained accreditation, with another 400 from Taiwan, Hong Kong and Macau.

If more of Beijing’s proceedings were in English, they would enjoy wider global coverage. That day may soon come as China’s prospect grows.

In 1997, China granted the Carter Center in the US the role of observing village-level elections around the country. The next level of governance, the provincial level, has also experimented with elections for the general public, with only the national level still to do so.

Since 2002, the Carter Center has also played a significant part in voter education in China, on issues like improved governance and political reform. In both rural and urban areas, the Carter Center works with China’s Ministry of Civil Affairs and with NGOs
.
Meanwhile during the week’s 18th National Congress in Beijing, a multitude of issues surfaced for the government to consider. Among these are challenges from growing income disparities, corruption, inadequate market access for local businesses, environmental degradation and moral decay from public indifference to private suffering.

As elsewhere, the responsibility of government is to ensure fulfilment of public welfare without neglecting private business needs. Whereas in the US critics of the government accuse Washington of adopting socialist policies, critics of Beijing accuse the government of abandoning them.

The world’s two largest economies are often compared to see how different they are, while neglecting how much they are similar and how exactly they actually differ. Economically they have become so interdependent within a single global system as to become mutually complementary.

By implication, they are also not as different politically as is so often presumed. While classical ideologists may persist, the reality is that the political business of government has largely become managing national economies competently in a single globalised world.

Kenichi Ohmae is wrong; countries are in no danger of being replaced by corporations in the present or the foreseeable future, no matter how much some corporate budgets dwarf some national incomes. Rather, countries will remain unitary entities, albeit essentially as political economies increasingly governed by national economic needs and supranational economic parameters.

A symptom of this is how economic ideo­logies have replaced political ideologies between the world’s leading major powers. The Washington Consensus of supposedly antagonistic public and private sectors is under serious challenge by the Beijing Consensus of a harmonious complementary relationship between state and industry.

The latter model in Asia originated in Japan, and was soon adopted by the Newly Industrialising Economies (NIEs) of Taiwan, Hong Kong, South Korea and Singapore. Now China is the main player of this game, with its size of play earning it the “Beijing Consensus” as the name of the game.

But some of it had already been seen before in Europe, particularly Germany. It had also been evident in the US itself, in a different time and under a different name.

All of which serves to confirm the unitary nature of the global economy, with time, circumstance and level of development being the real differentials.

BEHIND THE HEADLINES By BUNN NAGARA

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Don't mess religion with politics!

Religion and politics - that's a potent mix guaranteed to be explosive.  Keep faith out of politics!

IN the run-up to the general election, holding forums on political issues, even in churches, has become fairly common.

While most churches would be careful about bringing politicians into a house of worship to talk politics, there are some that are prepared to organise or at least play host to such events.

Last Saturday, the Oriental Hearts and Mind Study Institute (OHMSI) conducted a talk on “Islamic State: Which Version? Whose Responsibility?” with the keynote address by Dr Ahmad Farouk Musa, director of the Islamic Renaissance Front. The forum was held at a church in Subang.

But the person who captured the headlines was PKR deputy president Nurul Izzah Anwar who was one of the moderators. In response to a question from the floor, she found herself caught in a controversy over whether Malays have a right to choose their religion.

She was speaking to a largely urban non-Malay audience and, as seen in a video recording of the event that has now gone viral, she was greeted with loud applause.

The feisty politician has since denied making any statement suggesting that there should be no compulsion on Malays to be Muslims.

But she earned a royal rebuke from the Sultan of Selangor and she has quickly blamed Utusan Malaysia for allegedly distorting and twisting her reply to a member of the audience.

To make things more complicated, the person who posed the question to Nurul Izzah has now expressed her disappointment over the latter's about turn on the issue.

Lawyer Siti Zabedah Kasim was quoted as saying by news portal Free Malaysia Today that “I believe Nurul Izzah was just trying to impress the people. She didn't think of the consequences.”

For many non-Muslims, especially those living in urban areas, the issue was probably dismissed as a non-starter and seen as another political move to discredit Nurul Izzah.

But for conservative Muslims in the rural areas, it would be unthinkable and unacceptable.

Luckily for Nurul Izzah, the language used at the forum was English and the video that's currently going around does not have Bahasa Malaysia subtitles, thus making the damage less severe for now.

But for Nurul Izzah to deny it vehemently now would suggest that she has woken up to the grave political consequences of what she has done. If there was no impact, she would have just shrugged it off. She now wants to get out of this tricky spot.

The easy part is to blame Utusan Malaysia, which is well known for its nationalist slant, but the pro-Pakatan Rakyat news portal Malaysiakini also carried the same story using the same angle on Nov 3.

Nurul Izzah has also put PAS in a corner. On Friday, PAS spiritual adviser Datuk Nik Abdul Aziz Nik Mat said that if Nurul Izzah had indeed made her controversial statement on religious freedom, “then something is not right” while PAS president Datuk Seri Hadi Awang wanted to hear from her.

Their only purported concerns, or a way out, seem to be that they have doubts over the accuracy of reporting by the media.

DAP strongman Ngeh Koo Ham tweeted last week in support of Nurul Izzah, quoting Article 11 of the Federal Constitution which states that every person has the right to profess and to practise his or her religion. But Ngeh, a lawyer, did not say it has to be read with other applicable laws.

There are laws restricting the propagation of other religions to Muslims. Article 160 of the Federal Constitution, for example, is clear that all ethnic Malays are Muslims. A Malay is defined as someone who professes to be a Muslim, habitually speaks the Malay language and adheres to Malay customs.

The fact remains that the majority of Malays want this to remain as law and as practice and convention.

Nurul Izzah's slip has been seized on by Umno because the fight in the polls is essentially over the majority Malay votes, especially in the rural constituencies which are heavily in favour of the ruling party. Of the 222 parliamentary seats, only about 45 are Chinese-majority in urban areas and there is not a single seat with an Indian majority.

Nurul Izzah's case will also have a deep impact in PAS where the divide between those regarded as sympathetic to Anwar and the more orthodox ulamas is concerned. Former deputy president Nasharuddin Mat Isa, for example, is solidly in the Islamist party despite his overtures to Umno. He has regularly spoken up against the DAP, a PAS ally, but remains untouched because he is said to be protected by the anti-Anwar forces in the party.

The church in Subang has found itself in the spotlight for hosting the forum. Recently, another church which hosted a forum on the elections found its speakers and the media squabbling over the accuracy of some negative remarks made on Pakatan Rakyat.

There's a lesson here keep religion out of politics. But as long as there are politicians masquerading as theologians of their respective faiths, no one will take this advice kindly.

ON THE BEAT By WONG CHUN WAI

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Former Malaysian leaders were clear on Secularity of the Constitution but their successors today seem unclear!

Former leaders were clear about the secularity of the Constitution. Today, however, not all their successors in the political and judicial worlds seem to agree.

CONTROVERSY over our country’s position as a secular or Islamic state has flared again, motivated by politics, of course.

Headlined in this newspaper in 1983 were statements by Tunku Abdul Rahman (former Secretary-General of the OIC) and former Prime Minister Tun Hussein Onn that Malaysia was and should continue to be a secular state.

Former Lords, President Tun Suffian Hashim and Tun Salleh Abas, were also clear about the secularity of the Constitution.

Today, however, not all their successors in the political and judicial worlds seem to agree.

The recent provocations have triggered recent forums on Muslim history and political philosophy, asking the fundamental question of whether Islamic text and tradition mandate a particular form of government, or merely describe the qualities and virtues that a Muslim society should have.

Even amongst proponents of the latter, there are arguments as to what extent the state should use its power to coerce citizens to mandate or promote Islamic values.

Indeed, Muslim political philosophy is just as lively as Western political philosophy, with lineages of thinkers promoting order and obedience on one side and individual liberty and responsibility on the other.

The historical record, too, shows huge diversity in Muslim governance structures, and still today there are Muslims who justify communism, dictatorship, republican democracy and constitutional monarchy – though in country comparative indices, Muslim monarchies usually fare better than republics, a distinction the Arab Spring seems to reinforce.

Some have pointed out that in drafting our Federal Constitution, our monarchs initially opposed including a declaration that Islam should be the religion of the federation.

Alas, the reason for this has not been properly explained. It has been claimed that it shows that the Malay Rulers were themselves “secular” (which some then incorrectly define as “hostile to religion”).

No, they merely accepted the co-existence of secular institutions alongside religious ones – nothing new, as the Ottomans amply showed.

More crucially, the Rulers and their predecessors had, in law and reality, been Heads of Islam in their own states for centuries.

The Federal Constitution would not, it was thought, affect that, and thus Justice Abdul Hamid’s recommendation to insert Islam as the religion of the federation for ceremonial purposes prevailed.

This idea that religion was a state matter was re-emphasised when Malaysia was created: the first of the 18 and 20 points that Sarawak and Sabah agreed as a condition of merger was that they would have no state religion.

Alas, the Rulers and founding fathers could not foresee how politics would alter the nature of religion in our country, nor predict how check and balance institutions would be weakened in favour of centralising ever more powers in the federal executive.

The administration of Islam was no exception, becoming concentrated in institutions at the federal level controlled by politicians and bureaucrats.

This is the main reason why Islam in Malaysia has become so prone to politicisation.

You can still experience the beauty of non-political Malaysian Islam: the meticulously maintained mosques and cemeteries, the tastes and smells of Raya, the blessings invoked at wedding kenduri, and the harmonies of accompanying nasyid.

The heirs of Al-Idrus, Al-Attas, Al-Habshi, Al-Qadri, Alsagoff and others continue to produce champions of Islamic leadership, philosophy, philanthropy and entrepreneurship.

Despite the noises of those who want to ban concerts on one side and those who support theatre on the other (I recommend Nadirah at KLPac), there is also space for the Maulids of the legendary Haqqani Maulid Ensemble and less famous ones like last week’s session at Istana Hinggap Seremban organised by Persatuan Asyraaf Negri Sembilan.

For centuries, Muslims here have known that Islam can flourish without politics.

The Rulers for their part have continued pushing for progress in this vein: in Perak one of the most exciting recent appointments to the royal court was of Oxford Fel­low in Islamic Studies Datuk Dr Muhammad Afifi Al-Akiti; in Negri Sembilan the palace has hosted efforts leading towards Egypt’s Al-Azhar University establishing a local faculty; and in Perlis the Raja recently hosted Prof Tariq Ramadan’s dialogue with 2,000 religious officials, and last week the Raja Muda graced an unprecedented interfaith forum in the state.

This is the kind of Muslim leadership the country is crying out for, rather than the ostentatious politicisation of religion which has only caused consternation and division.

In the meantime, there is not going to be a political resolution on the Islamic state issue at the federal level anytime soon, and thus it seems sensible to instead re-affirm the intentions of the Rulers and the founding fathers.

Only in this way can we rejoin the dynamic, intellectual, spiritual and moderate narrative of Islam that we were long a part of.

ROAMING BEYOND THE FENCE  By TUNKU 'ABIDIN MUHRIZ
newsdesk@thestar.com.my

 > Tunku ’Abidin Muhriz is President of IDEAS

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World's Simplest Management Secret

Forget what you learned in those management books. There's really only one way to ensure that everyone on your team excels.

Management books have it all wrong. They all try to tell you how to manage "people."

It's impossible to manage "people"; it's only possible to manage individuals. And because individuals differ from one another, what works with one individual may not work with somebody else.

Some individuals thrive on public praise; others feel uncomfortable when singled out.

Some individuals are all about the money; others thrive on challenging assignments.

Some individuals need mentoring; others find advice to be grating.

The trick is to manage individuals the way that THEY want to be managed, rather than the way that YOU'd prefer to be managed.

The only way to do this is to ASK.

In your first (or next) meeting with each direct report ask:

• How do you prefer to be managed?
• What can I do to help you excel?
• What types of management annoy you?

Listen (really listen) to the response and then, as far as you are able, adapt your coaching, motivation, compensation, and so forth to match that individual's needs.

BTW, a savvy employee won't wait for you to ask; he or she will tell you outright what works. When this happens, you're crazy not to take that employee's advice!

Unfortunately, most individuals aren't that bold, which is why it's up to you to find out how to get the best out of them.

And you'll never get that out of a management book.

There is no one-size-fits-all in a world where everyone is unique.

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How to Avoid Social Networking Pitfalls

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Geoffrey James writes the Sales Source column on Inc.com, the world's most visited sales-oriented blog. His newly published book is Business to Business Selling: Power Words and Strategies From the World's Top Sales Experts. @Sales_Source

Is property building management a professional?

Have separate board 

WE refer to the letter “Leave it to professionals”, (see article below) on the issue of strata management.

Building management is not a profession: it is a multi-disciplinary management function encompassing a wide range of skills such as engineering, architecture, accounting, law, vocational skills, etc.

It cannot and should not be the exclusive domain of any particular profession like registered valuers.

No country has laws that specify that only registered valuers admitted as property managers pursuant to Section 21(1)(a) of the Valuers, Appraisers and Estate Agents Act, 1981 (VAEA Act) can undertake property management.

To put things in perspective, the Building Management Association of Malaysia (BMAM) is not objecting to registered valuers managing stratified properties.

What we are strongly opposed to is the creation of a monopoly favouring registered valuers if the Bill is signed into law in its present form.

The Board of Valuers, Appraisers and Estate Agents is offering to open a sub-register for non-valuer managing agents to be admitted as property managers.

We are not accepting the board’s proposal as it would only further entrench its monopoly over property management, given that the admission, suspension and even eventual deregistration of non-valuer property managers will be at the sole discretion of the board.

We are calling for the establishment of a separate multi-disciplinary Board of Building Managers under the jurisdiction of the Housing and Local Government Ministry with regulatory support from the Commissioner of Buildings (COB).

There are more than 4,000 stratified projects (80% of them residential) in Malaysia at the moment, and about five million Malaysians belonging to the low and middle income groups live in them.

Since the common properties and facilities in the flat and apartment premises cannot be sold or subdivided and are meant for the exclusive use of the residents, all that the owners need is a building manager to maintain the common areas and facilities, and not a property manager whose portfolio includes leasing, collection of rent, promotion of sales, etc.

A building manager appointed by the joint management body (JMB) or management corporation (MC) upon mutually agreed terms and conditions of scope of work and remuneration would be significantly cheaper than a property manager whose fees are subject to a schedule under the VAEA Act.

The building manager is only expected to carry out his duties and responsibilities according to the terms and conditions of his appointment as well as the instructions of the JMB or MC Management Committee.

All fiduciary responsibilities, particularly the management of the Building Fund Account, are undertaken by the JMB or MC pursuant to the Building and Common Property (Maintenance and Management) Act, 2007 and the Strata Titles Act, 1985.

These records are submitted to the COB every year after the annual general meeting.

PROF S. VENKATESWARAN
Secretary General
Building Management Association of Malaysia

Leave it to professionals

THE public deserves an unbiased understanding beyond the shadow play leading up to the third reading of the Strata Management Bill 2012 in parliament.

The proposed Act stipulates that a managing agent for stratified property must first be free from any potential conflict of interest (i.e. independent) and secondly, a registered property manager.

The Act replaces the Building and Common Property Act, which did not emphasise that such functions are to be performed by a registered property manager.

The key problem is that property management at present is also practised by an unregulated group and such parties are not accountable to a regulatory body unlike registered persons i.e. property professionals or chartered surveyors.

The new Act aims to rectify this disparity by uniformly regulating all property managers of stratified properties.

Under the Valuers, Appraisers and Estate Agents Act (VAEA), a Registered Property Manager must possess:

1) An academic qualification from an approved institution of higher learning or recognised professional examinations; and

2) Pass the Test of Professional Competence set by the regulating body.

These robust standards and established processes are aimed towards registering professionals of sound qualifications and adequate competency levels.

A registered property manager is continuously subjected to a code of conduct, professional standards and various stipulations under VAEA to ensure they discharge their duties in a manner that serves the public adequately and to the highest possible industry standards.

The registration of property managers and firms is undertaken by the Board of Valuers, Appraisers and Estate Agents Malaysia (board).

The board, a governmental regulatory body under the purview of the Finance Ministry, was set up in 1981 to regulate Estate Agents, Valuers, Appraisers and Property Managers in Malaysia.

It is legislatively empowered to deal with complaints from the public and take disciplinary action against any errant registered persons or firms, including stripping them of their licence and barring them from further practice, amongst other possible disciplinary measures.

Given the established competency requirements and standards imposed on registered property managers, I cannot see beyond reasonable logic for such professionals to utterly fail in their professional duties to a joint management corporation, management corporation or individual owner.

The board, in the spirit of laissez-faire, has opened the registration of property managers to include these non-regulated practitioners.

Property management was always the domain of property professionals but only in recent history, primarily property developers and others have set up property management businesses to rival property professionals for the property management trade but in an unregulated fashion, taking advantage of the limitations of statutes. This is where the battle lies and the public should take notice.

If a non-regulated practitioner wishes to practise as a property manager in efforts to legally comply with the greater standards as demanded by the new Act, I cannot see why they should shy away and not readily subject themselves through the established process and competency test in order to become a registered property manager.

The process is not designed to penalise individuals but to assess if a candidate has the required level of competency, in order to be accountable to the public as a practising professional.

The merit of regulating the property management profession far outweighs any self-serving agenda, and the public must insist for high standards in lieu of the nation’s Vision 2020 agenda.

To the lawmakers and members of Parliament, my plea is to make the right decisions in cognisance of standards, accountability and professionalism.

The last thing we want is a mushrooming of “urban slums” in our beautiful country.

A. PADMAN  Kuala Lumpur - The Star, Nov 5 2012

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America's problem: Money politics seldom supports reforms

“Money politics” has become even more prominent in the U.S. presidential race this year.

In 2010, the U.S. Supreme Court removed the limits on corporate donations to political campaigns and ruled that corporate donations are a protected form of free speech. As a result, this year’s congressional and presidential elections have become the most expensive in U.S. history, with billions of U.S. dollars spent already.

While rich people are throwing loads of money into the presidential election, ordinary Americans are worried about their own financial conditions.

Over the past 20 years, the income of middle-class Americans has been on the decline, and the income gap is becoming increasingly wide.

A poll has found that most Americans believe that too much money has been spent on the elections, and political contributions will only enhance rich people’s influence over the policy-making. No matter who is elected the U.S. president, he is bound to pay more attention to the needs of the rich than those of the poor.

Rich people are enjoying greater influence in politics, while the rights of ordinary voters are being damaged, which runs counter to the U.S. constitutional principle of “political equality.”

The economy is the decisive factor in this year’s presidential election, but the two candidates have mainly attacked each other, and failed to introduce specific plans for solving the country’s economic problems when it comes to debates on economic issues.

The weak U.S. economy is a result of both the global financial crisis that broke out a few years ago and the country’s own political problems. All Americans see on television is the ugly partisan strife and politicians’ lack of courage to carry out reforms.

The U.S. president needs great public support to lead the country out of crisis, and should figure out whether he rules simply for the sake of ruling or acts only after carefully considering the people’s immediate and long-term interests. Americans should remember that money politics seldom support reforms.

Read the Chinese version: “金钱政治”砸不出变革动力; 
Source: People's Daily; Author: Zhong Sheng

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Property market here skyrocketing demand; calls to make Malaysia a real estate investment hub

Homes prices in Malaysia are expected to be stable, thanks to solid domestic demand and ample purchasing power, said Datuk FD Iskandar (pictured), Deputy President of the Real Estate and Housing Developers’ Association of Malaysia (REHDA).

“With the implementation of the Economic Transformation Programme and the Greater Kuala Lumpur, the real estate sector is set to experience skyrocketing demand in the coming years,” he told The Borneo Post.

Compared to other property segments, landed houses saw the highest demand this year and the same is expected for 2013 and 2014. One of the factors that contributed to the domestic demand was the country’s growth rate of between 2.2 and 2.3 percent, as well as the rapid urbanisation of Malaysia.

“In the 70s, the degree of urbanisation in Malaysia was only about 30 percent and it increased to 40 percent in the 80s. Now, the degree of urbanisation in the country is between 55 percent and 56 percent,” he said, adding that 200,000 houses were sold in 2011, of which 50 percent were new properties, with the rest being resale properties.

At the same time, people need not worry that a property bubble is looming. Of all the properties sold in 2011, only 1.8 percent was bought by foreigners, unlike in Singapore, where over 39 percent of properties were sold to expatriates, he said.

In addition, property prices in Malaysia are still one of the lowest in the ASEAN region.

“The best that we have is the KLCC area, with an average selling price of US$500 psf (RM1,525 psf). In Singapore, you will be paying US$2,000 (RM6,103) for the same area, while in Jakarta, you will get it in between US$700 and US$800 (RM2,136 to RM2,441),” he added.

By Cheryl Tay 
 

Calls to make Malaysia a real estate investment hub

 
By Andrew Batt:

The Malaysian government should amplify efforts to promote Malaysia as an international property investment hub, according to property developers in a report by The Business Times.

At present, 2 percent of the total property sales in Malaysia come from foreigners, compared with Singapore’s 30 percent. Taking into account that about 120,000 new units enter the market each year, this translates to 2,400 properties.

The government has also introduced measures to cut red tape and enhance the delivery of public service at all government agencies both at federal and state levels.

Moreover, Malaysia is eyeing to attract thousands of expatriates to Iskandar. Three times the size of Singapore, this region will feature an education hub, leisure facilities, a financial district, as well as residential and commercial areas.

European expatriates based in Singapore are planning to relocate to Malaysia due to its cheaper property and low cost of living. Many have already purchased homes in the southern part of the country.

According to Jason Thoe, Head of Marketing at PropertyGuru.com.my, investors are flooding in to Malaysia from Singapore, China, Japan, South Korea and Hong Kong snapping up residential properties in Johor, Kuala Lumpur and Penang.

Ho Hon Sang, Managing Director (property development division) at Sunway Bhd, added that Chinese, Japanese and South Koreans are coming back to Malaysia to invest in properties.

“The country’s leadership and branding is important to attract foreigners here. The government is (also) addressing the issue of affordability so that all Malaysians could own a property,” added Ho.