Penang state exco for Housing, Local Government and Town & Country Planning, Jagdeep Singh Deo called on the federal government to reconsider and discuss the newly announced Malaysia My Second Home (MM2H) regulations.
He said that the programme benefits the state and also the country economically and as such should be discussed further.
“The new announcement comes with many conditions and this has received severe criticism. Many are already planning to leave the country.
“While we thank those who have taken up the programme, we do not want to impede existing and also new applicants.
“Among the new conditions include the RM1.5 million liquid assets requirement from the previous RM350,000.
“They are also required to have a fixed deposit of RM1 million from the earlier RM150,000 and they also apply to those who are already here,” said Jagdeep in a press conference at Komtar today.
He also called all stakeholders to a discussion before further implementation.
“At least we can come to a win-win conclusion,” he added.
Also present at the virtual press conference was Penang REDHA chairman Tan Hun Beng.