Malaysia to aid property market

Bloomberg

The government is talking to banks to reschedule payments and to reduce interest rates on housing loans. It also wants to subsidize the cost of building 25,000 houses for lower-income families and review stamp duties and taxes for developers, easing unemployment concerns while stimulating the construction industry.

Malaysia’s government may next month put forward a second stimulus plan, adding to November’s $1.9 billion package, in a bid to avoid joining neighboring Singapore in recession amid the worldwide slowdown.