Latest news with #MM2H
The Star
2 days ago
- Business
- The Star
Refine offerings to woo migrant investors
RECENTLY, Malayan Banking Bhd introduced a package for successful Malaysia My Second Home (MM2H) applicants. This was done in collaboration with the Tourism, Arts and Culture Ministry (Motac). The package offers preferential rates, low fixed-rate charges for unit trust investments, automatic Premier banking status, and financial advisory services. Billed as RM9.73 for the 1st month then RM13.90 thereafters. RM12.33/month RM8.63/month Billed as RM103.60 for the 1st year then RM148 thereafters. Free Trial For new subscribers only
New Straits Times
6 days ago
- Business
- New Straits Times
Second Home Plan makes MM2H debut, eyes global market
KUALA LUMPUR: Newly established Second Home Plan (MM2H) Sdn Bhd has made its debut in the Malaysia My Second Home (MM2H) space, offering end-to-end relocation services for foreign nationals seeking long-term residency in the country. Managing director June Chang said the company provides a full suite of support covering healthcare, education, property, legal, financial, and lifestyle needs. "The company's mission is not only to facilitate the process of moving to Malaysia but also to ensure that applicants feel truly at home. "A second home should not mean second place," he said at the launch ceremony officiated by chairman Tunku Kamariah Aminah Maimunah Iskandariah Sultan Iskandar. The MM2H programme is a government initiative aimed at attracting foreign investment, stimulating tourism, and driving economic growth. It is promoted by the Tourism, Arts and Culture Ministry, while visa approvals are handled by the Immigration Department under the Home Affairs Ministry. Second Home Plan chief executive officer SP Chang said the company aims to be Southeast Asia's most trusted MM2H platform. "We are prepared to serve applicants from all corners of the world—China, Hong Kong, Taiwan, Singapore, Europe, America, Dubai, Bangladesh, and many more. "Wherever there is aspiration to live in Malaysia, we stand ready with structure, service, and sincerity," he said. The launch also saw the signing of a memorandum of understanding between Second Home Plan and the Zhejiang China and Malaysia Overseas Friendship Organisation to promote MM2H in Zhejiang and its international networks. Introduced in 2002 as a successor to the 1996 Silver Hair programme, MM2H offers long-term residency to foreign nationals. The programme was recently revamped into four categories, namely Silver, Gold, Platinum and Special Economic or Financial Zone, each with distinct requirements. Applicants must be at least 25 years old and place a fixed deposit in a Malaysian bank ranging from US$32,000 to US$1 million, depending on the category. Under the scheme, visas are valid for five to 20 years, with only the Platinum category allowing employment or business participation. Participants are also required to spend at least 90 cumulative days in Malaysia each year. Applications must be submitted through licensed MM2H agents and are subject to background checks, health screenings and valid medical insurance coverage.
The Star
21-05-2025
- Business
- The Star
Trading ideas: Maybank, Velesto, Duopharma, IHH, Malakoff, EcoWorld, SCable, MBSB, Kimlun, Sapura Industral, Eversendai, SunCon, PetChem, Aeon, TSH, MyEG
KUALA LUMPUR: Here is a recap of the announcements that made headlines in Corporate Malaysia. Malayan Banking Bhd said its wealth management arm, Maybank Premier, will offer a range of solutions tailored to successful MM2H applicants, supporting national efforts to attract global talent and long-term foreign residents. Velesto Energy Bhd has secured a drilling contract from Phu Quoc Petroleum Operating Company in Vietnam involving more than 40 wells, with operations expected to begin in the first half of 2026. Duopharma Biotech Bhd 's wholly-owned subsidiary Duopharma Marketing Sdn Bhd and India Biocon Ltd's local unit Biocon Sdn Bhd have secured a six-month contract extension from the Ministry of Health for the supply of insulin to public hospitals. IHH Healthcare Bhd 's indirect subsidiary, Northern TK Venture Pte Ltd, has increased the damages it is seeking from Daiichi Sankyo Co Ltd to about JPY200bn (RM5.7bn). Malakoff Corporation Bhd 's subsidiary, Malakoff Radiance Sdn Bhd, has signed a second solar power purchase agreement (4.22 MWp) with HICOM Automotive Manufacturers (Malaysia) Sdn Bhd to expand its renewable energy footprint. Eco World Development Group Bhd , SD Guthrie Bhd (previously Sime Darby Plantation Bhd , and NS Corporation Sdn Bhd have formalised a shareholders agreement yesterday to launch the development of Eco Business Park 7 in Negeri Sembilan. Sarawak Cable Bhd will be de-listed from Bursa Malaysia on May 30, unless it files an appeal by May 27. MBSB Bhd has announced a RM1bn financing facility to accelerate the growth of Malaysia's aerospace sector. Astaka Holdings Limited, together with its JV partner Kimlun Corp Bhd has commenced construction of Arden, a premium serviced residence under Phase 3 of One Bukit Senyum, the group's flagship development in Johor Bahru. Sapura Industrial Bhd has teamed up with a China-based firm to establish a precision component manufacturing plant in Malaysia with an initial investment of RM18mn. Eversendai Corporation Bhd has clinched three significant new contracts in the United Arab Emirates, India, and Singapore worth a combined RM1.3bn, pushing its total outstanding order book to RM6.6bn. Sunway Construction Group Bhd 's net profit for 1QFY25 surged to RM75.7mn, up from RM32.4mn in the same period last year as revenue climbed 132% YoY to RM1.4bn. Petronas Chemicals Group Bhd reported a net loss of RM18mn for 1QFY25 on lower sales margins, supply problems at Pengerang Petrochemicals Company Sdn Bhd, foreign exchange losses and rising costs. Aeon Co (M) Bhd's net profit for 1QFY25 rose 18% to RM68.1mn from RM57.4mn a year earlier, supported by seasonal spending uplift from the double festive celebrations within the quarter. TSH Resources Bhd 's 1QFY25 net profit surged 140% YoY to RM48.2mn, thanks to higher palm product prices and improved segmental contribution, coupled with lower finance costs. MyEG Services Bhd net profit for 1QFY25 rose to RM181.6mn from RM155.9mn in the previous corresponding quarter, due to contributions from web3 application service fees on the Zetrix blockchain platform and contributions from the sale of Zetrix tokens.
The Star
21-05-2025
- Business
- The Star
Maybank partners with ministry for MM2H initiative
Maybank said its wealth management arm, Maybank Premier, will offer a range of solutions tailored to successful MM2H applicants. PETALING JAYA: Malayan Banking Bhd (Maybank) is the first among a select group of banks in Malaysia to partner with the Tourism, Arts and Culture Ministry for the Malaysia My Second Home (MM2H) programme. In a statement, Maybank said its wealth management arm, Maybank Premier, will offer a range of solutions tailored to successful MM2H applicants, supporting national efforts to attract global talent and long-term foreign residents. The MM2H programme offers long-term visas that can be renewed every five to 20 years. It is aimed at retirees, professionals, and global investors. The latest framework includes three categories, with extra benefits for those who invest in Malaysia's Special Economic Zones and Special Financial Zones. Maybank is launching a series of international roadshows and activities as part of the collaboration, starting with a recent event in Maybank Tower in Singapore. Trading ideas: Maybank, Velesto, Duopharma, IHH, Malakoff, EcoWorld, SCable, MBSB, Kimlun, Sapura Industral, Eversendai, SunCon, PetChem, Aeon, TSH, MyEG
The Star
20-05-2025
- Business
- The Star
Maybank partners with Motac for MM2H programme initiative
KUALA LUMPUR: Malayan Banking Bhd (Maybank) is the first among a select group of banks in Malaysia to partner with the Ministry of Tourism, Arts and Culture (MOTAC) for the Malaysia My Second Home (MM2H) programme. In a statement, Maybank said its wealth management arm, Maybank Premier, will offer a range of solutions tailored to successful MM2H applicants, supporting national efforts to attract global talent and long-term foreign residents. The MM2H programme offers long-term visas that can be renewed every five to 20 years. It is aimed at retirees, professionals, and global investors. The latest framework include three categories — Silver, Gold, and Platinum — with extra benefits for those who invest in Malaysia's Special Economic Zones (SEZs) and Special Financial Zones (SFZs). Maybank is launching a series of international roadshows and activities as part of this landmark collaboration, starting with a recent event at MSpace@ Maybank Tower in Singapore. Following the event in Singapore, Maybank and MOTAC will continue to host MM2H-focused roadshows across key regional markets. The bank is also providing a package for successful MM2H applicants that includes preferential rates, low fixed charges on unit trust investments, automatic Premier banking status, comprehensive financial advisory services, and more. Maybank president and group CEO Datuk Khairussaleh Ramli said the strategic collaboration underscored Maybank's commitment to supporting Malaysia's economic goals by positioning the country as a top destination for global investors and long-term residents. 'As a banking partner for MM2H, we are proud to offer a holistic financial ecosystem that not only meets the sophisticated needs of international clients, but also reinforces Malaysia's appeal as a vibrant, forward-looking nation.'
