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KUALA LUMPUR, Malaysia (AP) - Malaysian will scrap capital gains tax on property deals from April 1, the prime minister said Thursday as he announced a slew of pro-investment programs and incentives in a bid to boost the economy.
Prime Minister Abdullah Ahmad Badawi said he hoped the decision would "inject more excitement and dynamism in both the property and financial sectors."
"Potential that has gone unrealized or under-optimized will be turned into new industries and businesses, new value creation and new jobs," he said in a speech at a conference of local and foreign fund managers, and heads of some of Malaysia's biggest companies.
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