KUALA LUMPUR, April 6 (Bernama) -- Newly-listed Integrated property developer MCT Bhd sees itself incurring a lower construction cost of 1.3 per cent from the Goods and Services Tax (GST).
This is in contrast to the 2.6 per cent post-GST impact estimated by the Real Estate and Housing Developers' Association Malaysia (Rehda).
Rehda made this observation after taking into consideration the construction cost, which constitutes 46 per cent of the total development.
MCT Non-Independent Executive Director and Chief Executive Officer Datuk Seri Tong Seech Wi said as an integrated developer, it had in-house construction and trading companies as well as design team, to minimise the GST impact.
"Taking all this into account, we would possibly face only half the GST impact of 2.6 per cent projected for typical developers, although this figure has yet to be properly confirmed," he told reporters after the company's listing on the main market of Bursa Malaysia here today.....