Malaysian Prime Minister's Comments About Forest City Should Have Little Impact on Country Garden
Mahathir bin Mohamad, the Malaysian prime minister, made a statement on Aug. 27 that the government may alter its “My Second Home†program, which allows foreigners to obtain long-term residency rights in Malaysia by acquiring properties. The comment was directed toward Forest City, a large development project in Johor, where the buyers were rumored to be mostly Chinese citizens. Country Garden, the developer of the project, saw its shares drop by more than 3% on Tuesday. We believe the market ov...Country Garden Holdings is an investment holding company. Through its subsidiaries, Co. is engaged in the property development, construction, fitting and decoration, property management and hotel operation. Co. provides a range of products including residential projects such as townhouses, condos, as well as car-parks and retail shops. Co. also develops and manages hotels within some of its projects, and operates independent hotels. As of Dec 31 2014, excluding Guangdong province, Co. had property development operations in a number of selected locations in 23 provinces/ municipalities/autonomous regions in China.
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