ALL property transactions, including those between foreigners and non-Bumiputeras, will no longer require Foreign Investment Committee (FIC) approval, Prime Minister Datuk Seri Najib Tun Razak announced today.
The FIC approval will only be required for property transactions which involve a dilution of Bumiputera or government interest for properties valued at RM20 million and above, he said at the Invest Malaysia 2009 conference here.
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