OWING to a pick-up in property sales, analysts do not expect the national Budget to be tabled tomorrow to hold goodies for the sector, except perhaps for Islamic real estate investment trusts (Reits), given that Syariah financing is a key area of promotion for the government.
Maybank-IB analyst Ong Chee Ting sees Islamic Reits as a ‘potential beneficiary’ of the Budget because of the government’s aspirations for Malaysia to be an Islamic capital market hub.
Currently only three out of Malaysia’s 11 Reits are Syariah-based, he noted, and incentives at both the Reit and Trust manager levels to promote the setting- up and development of Islamic Reits could act as a catalyst for the sector.
If Budgets of the previous years are any indication, the goodies directed at the Islamic capital markets are likely to continue. Continue reading
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