GEORGE TOWN (Dec 23): The Penang state government has agreed to increase the quit rent rebate rate for 2026 to 50% from the previously announced 32.5% to ease the financial burden of landowners while ensuring a gradual and controlled transition to new quit rent rates. Chief Minister Chow Kon Yeow said, however, that the quit rent rebate is subject to the minimum quit rent rate prescribed, and the new quit rent rates will remain in effect for a minimum period of 10 years as provided under the National Land Code (Act 828). “In this regard, if the quit rent amount after the rebate is lower than the existing amount paid in the previous year, the existing quit rent amount will apply. Chow also said quit rent bills will be posted to all landowners in mid-January, but landowners may begin checking and paying their quit rent bills online starting Jan 2. The quit rent rate review involves nearly 370,000 land titles throughout Penang, covering various land categories and uses, including residential, commercial, industrial, agricultural and other special categories.

Source: The Edge Markets December 23, 2025 08:42 UTC