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Headline: Hong Kong Celebrities and Foreign Investors Flock to Malaysia
Malaysia is witnessing a surge in interest from Hong Kong-based celebrities and foreign investors, drawn by the country's unique blend of culture, affordability, and economic potential.
The Malaysian government's initiatives, such as the revamped Malaysia My Second Home (MM2H) programme, are playing a significant role in this trend. This programme encourages long-term residence for foreigners who meet certain criteria, generating substantial revenue from property investments, with RM237.2 million coming from such investments alone.
The extended visa exemption for Chinese travellers is another incentive that facilitates easier access for investors and visitors.
International celebrities, like Amy Yip, a famous 1980s Hong Kong sex symbol, have taken notice. Yip opened her first boutique hotel investment in George Town, Penang, in August 2024, and has also invested in a durian-themed hotel there.
Hong Kong-based celebrities, such as Grace Chan and her husband, Kevin Cheng, have been spotted in Malaysia, making appearances at grand openings.
In the business world, figures like Eric Tsang, an award-winning Hong Kong director, actor, and producer, have shown interest. Tsang was the brand ambassador for local developer Mah Sing Group Bhd and purchased a home at M Vertica in Cheras.
Other investors, like Lily Chung and Hugo Ng, veteran TVB actors, launched a coffee shop franchise in Malaysia, 9 Kopitiam, in May 2023. They have opened several branches around the Klang Valley.
Moreover, Tara Lim, managing director of Perfect Homes (MM2H) and a consultant with over 13 years of experience, attributes the rising interest in Malaysia to several factors. These include the country's rich food culture, familiar Asian traditions, affordability, and comprehensive international education system.
The appeal of Malaysia extends beyond its lifestyle offerings. The country offers growth opportunities in strategic sectors such as manufacturing (electronics and automotive parts), agriculture, technology, and services. The manufacturing sector's global importance and government tax and investment incentives are particularly attractive.
Hong Kong investors face domestic uncertainties, including political risk and sector declines, prompting capital reallocation to stable and growing Southeast Asian markets. Malaysia's strong services sector (accounting for 55% of GDP), including fintech and e-commerce, draws substantial Hong Kong investments amid a regional shift in focus away from Hong Kong itself.
Hong Kong acts as a financial hub for accessing Chinese and Asian markets, making Malaysia a natural target for investors looking for diversified opportunities within Southeast Asia. Malaysia's political stability, business-friendly policies, and incentives compare favorably with other regional options such as Singapore and Indonesia.
Tara Lim has seen a spike in inquiries from potential clients all over, including Taiwan, China, Hong Kong, Indonesia, and Myanmar, following the revamp of the MM2H programme. She has highlighted key areas in Penang, such as Gurney Bay, Tanjung Tokong, Tanjung Bungah, and Bayan Lepas, as hotspots for foreign investors.
This influx of Hong Kong-based celebrities and foreign investors underscores Malaysia's growing appeal as a destination for long-term residence and investment. With its combination of government incentives, lifestyle appeal, strategic sector opportunities, and favourable geopolitical context, Malaysia is poised to continue attracting international attention.
[1] Malaysia My Second Home (MM2H) programme: https://www.immigration.gov.my/en/mm2h [2] Desa ParkCity: https://www.desaparkcity.com/ [3] Malaysia's services sector: https://www.statistics.gov.my/index.php/home/data/economic-sector/services [4] Singapore: https://www.stats.gov.sg/ [5] Indonesia: https://www.bps.go.id/
- The Malaysian government's revamped Malaysia My Second Home (MM2H) programme is generating substantial revenue from property investments, with RM237.2 million coming from such investments alone, attracting foreign investors.
- International celebrities, like Amy Yip, a famous 1980s Hong Kong sex symbol, have invested in businesses in Malaysia, such as her boutique hotel investment in George Town, Penang.
- In Kuala Lumpur, Eric Tsang, an award-winning Hong Kong director, actor, and producer, purchased a home at M Vertica in Cheras.
- Malaysian education, which offers a comprehensive international system, is another factor attracting foreign investors to the country.
- The Malaysian economy, with opportunities in manufacturing, technology, services, and agriculture, is appealing to investors from countries like Hong Kong.
- With its unique blend of culture, affordability, and economic potential, Malaysia is poised to continue attracting international attention and foreign investments, especially from celebrities and investors from countries like Hong Kong, Taiwan, China, Indonesia, and Myanmar.
