Invest In Malaysia, More Reasons Before Deciding
Invest in Malaysia or not, first reason laid out
Invest in Malaysia or not, one has to consider this important reasons which is mentioned in my first post. This is the arbitrary rule change on the RPGT in 2018. One of the additional rule has left foreign investors hanging high and dry. This is the 7% of selling price retention sum. After 10 months, I am still waiting for the refund of the excess amount after deducting the RPGT. Another rule concern increasing their RPGT tax rate every few years and retroactive the law. This is the first good enough reason to begin with.
This kind of politicians’ mentality is to entrap just like setting those fish net trap with a wide-to-small hole net basket for victims to swim inside and be entrapped.
Would you consider your rights being upheld one of the reason
Of the many reasons, the next reason not to invest in Malaysia is the corruption (“kaw tim” Malaysia-flavour) and lack of decent human rights when it comes to foreigners staying in Malaysia.
Though I was under the MM2H visa residency program, their immigration have upended my life over “I-don’t-know-what”. Just at a snap of the immigration’s finger, I was taken from my home, put in a cruel and inhumane living hell called Pekan Nanas Detention Center. The I was sent to the Kluang jail even after paying the fine on the same day. Languished there for a few days before being send back to Pekan Nanas Detention Center. I was in this sordid living hell for 35 days as compared to American Maggie’s 5 days in living hell.
I was totally cut off from civilization and family, though I holds a MM2H visa. After the 35 days, I was escorted back to Singapore as a criminal in handcuffs (even the convicted criminal ex-pm of Malaysia was not handcuffed at any point). But before I was out from Malaysia Setia Tropika office, one immigration officer tries her luck. She gave me a contact (Gee) that can arrange a back door way to return to Malaysia for RM10,000 (in case I gets blacklisted). The singh did not tell me that I was blacklisted. I later found out that the singh officer has been with some “expectations” and a big liar after I have reviewed my whole “incidents” with others.
I can only assume that this is a standard practice and many have choosen this easy way out to find out that it is a scam and a bigger hole that one has dug.
Would foreigners be treated unfairly one of the reason not to invest in Malaysia
Then I had to go to the Malaysia embassy in Singapore and show them the defaced page on my passport. They told me that stamp on my passport means I am blacklisted for life. That put all my investments and whatever I owned in Malaysia in complete jeopardy and ruin. It has been more than two and a half years of grief. It would be total disaster for foreigners staying further than Singapore, so non-Singaporeans please take note.
I have pursued the legal course in their Malaysia High Court and this process is on-going. I must give credit to their court system efficiency. It only takes one and a half years to come to a final verdict around the end of 2020. And I am not allowed into Malaysia to attend my court hearing but done remotely. The immigration put in their objection to my presence in court with the judge’s agreement. Through the two high court cases, I have uncovered more to the “I-don-know-what” and their Federal Constitution and court system. This a vast area of interest and quite a bit to write and post on. Can only post more on this area in future post after the conclusion of the legal case.
Are having avenue of recourse one of the reason to consider
I now move to the next good reason not to invest in Malaysia. That is there is no avenue of recourse if you have been set up in Malaysia.
Since it is immigration-related and I believed I have sufficient grounds to get his attention, I wrote an appeal letter Director General (DG) of immigration. This letter was sent by registered mail to his office. There was totally no reply and nothing ever heard form this officer.
As my stay in Malaysia was related to MM2H, I wrote to the Director of MM2H seeking her help with regards to my investments in Malaysia. She did helped and managed to solicit a reply from the DG of immigration. After all, she is also a senior officer from the government and I give her credit for her help.
The DG of immigration give her some face and allows me a token concession of “3 MONTH ONLY” special immigration pass to fully settle looking-for-buyer-selling-my-houses and cars and closing all accounts. I have never looked so stupid in my whole life or do I?
Well, never mind, life is never a straight line. There are some ups and some downs but at least I want to keeps my humanity.
There we have some of the important reasons to consider on why not to invest in Malaysia.
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