11MP: Achieve developed nation status by 2020
The tabling of the 11th Malaysia Plan (11MP) yesterday revealed Malaysia’s preparedness to achieve developed nation status within the next 5 years. The theme “Growth Centred on the People” included 6 core strategies and 6 change catalysts in all aspects to maintain the goal of becoming a developed nation in line with Vision 2020. The strategies outlined in the plan were seen as comprehensive, but the mechanism to implement the plan must be closely monitored, such as increasing the household income of those in the bottom 40% (B40), strengthening of human capital, and issues like a weakening Ringgit, dropping petrol prices, and a challenging political scene.(Bernama)
11th Malaysia Plan to increase B40 household income
One of the core strategies outlined in the 11th Malaysia Plan is to improve the well-being of households in the bottom 40% income group (B40 households). Changes will include doubling the mean income of B40 households towards a middle-class society, soft loan facilities for higher education, entrepreneurial training, affordable housing schemes, balancing regional growth, and enhancing Bumiputera Economic Community opportunities. (The Star Online)
Malaysia to host FIABCI 66th World Real Estate Congress
From May 29 to 31, Malaysia will be host to the International Real Estate Federation 66th World Real Estate Congress, or FIABCI, for the second time in a decade. The annual world congress is an event where experts gather to discuss the future of real estate development. This year’s theme is “Urbanisation: Perils or Prosperity”, and will feature distinguished speakers and host 1,000 delegates from 48 countries. (The Edge Property)
MRT Line 2 will cost over RM30 billion
The Sungei Buloh-Serdang-Putrajaya MRT2 line is expected to cost over RM30 billion, including an estimated RM4 – RM5 billion for private land acquisition. Construction works are expected to start in the second quarter of 2016. Pre-qualifying exercise for the underground construction will take place next week before the bidding session begins in the last quarter this year. (The Edge Markets)
Selangor to acquire Puncak Niaga and SYABAS water assets
The Selangor Menteri Besar announced yesterday that the state would first acquire water assets held by Puncak Niaga Holdings Bhd and Syarikat Bekalan Air Selangor Sdn Bhd (SYABAS) in order to speed up the water consolidation exercise. However, he declined to comment on the water treatment concession owned by Syarikat Pengeluar Air Sungai Selangor (Splash), which had rejected the state’s offer. The federal and state governments had agreed to solve the Selangor water situation by mid-June. (The Malaysian Insider)
Selangor Menteri Besar Mohamed Azmin Ali (Source: The Malaysian Insider)
UEM Sunrise targets RM2 billion sales this year
Property developer UEM Sunrise Bhd is expecting RM2 billion in sales this year with the launch of eight new development projects, says MD and CEO Anwar Syahrin. The first half of 2015 does not bode well but the second half is expected to pick up, as the younger market especially are keen to own affordable houses. (New Straits Times Online)
Johor Sultan buys prime riverside property in Perth
Australian news reports that the Sultan of Johor has purchased a piece of land on Perth’s historic old Sunset Hospital for AU$8.5 million. Authorities said that the land makes up only 2% of the historic site, and proceeds from the sale will go towards restoring the heritage buildings. Public comments were mixed, with some saying that foreigners should not be allowed to buy land there, while others said it would strengthen ties with South East Asia. (The Malaysian Insider)
