Forest City is set to become the first in Malaysia to offer a 0% tax rate for family wealth offices, a strategic move aimed at attracting businesses, financial institutions, and high-net-worth individuals globally. We speak to Francis Hutchinson, Senior Fellow at the ISEAS-Yusof Ishak Institute, to unpack the significance of this new policy.

Other stories we covered today:

• • Risk of Statelessness for Children Rescued from GISBH Homes: Some of the children rescued from GISBH homes could face statelessness, as many carry the "bin Abdullah" surname, indicating they were born out of wedlock, while others’ parents never officially registered their marriages. Maalini Ramalo, Director of Social Protection at the Development of Human Resources for Rural Areas, explains the implications.
  

• • Kedah Floods Displace Thousands: Kedah is once again grappling with severe floods, affecting over 6,700 people. Dr. Ahmad Yusuf Yahaya, Chief Coordinator of IMARET, gives us a firsthand update on the situation.
  

• • Former Singapore Transport Minister Pleads Guilty: Former Singapore Transport Minister S. Iswaran has pleaded guilty to five charges after the prosecution reduced 35 charges, including corruption, to five lesser ones. James Gomez, Director of Asia Centre, breaks down the case.
  

• • Ringgit Soars to 30-Month High: Last week, the ringgit surged to a 30-month high, closing at 4.1815 against the US dollar, making it the world’s best-performing currency. We get expert insights from Professor Wong Chin Yoong of Universiti Tunku Abdul Rahman.

Image Credit: Sebastian Castelier, Shutterstock

Produced by: Alena Nadia, Tee Shiao Eek, Alia Zefri, Sharaad Kuttan

Presented by: Lee Chwi Lynn, Sharaad Kuttan

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Categories:  economy,  politics,  government,  international,  environment,  controversies

Tags:  forest city 0% tax,  family wealth offices malaysia,  business incentives malaysia,  francis hutchinson ISEAS,  GISBH child rescue,  statelessness in Malaysia,  Kedah floods update,  Dr Ahmad Yusuf IMARET,  S Iswaran corruption case,  Singapore transport minister scandal,  ringgit 30-month high,  Malaysia currency performance,  Wong Chin Yoong economist,  Malaysia economic news,  Malaysian financial incentives,