Fines for failure to separate solid waste to begin in June
Beginning June, residents who fail to separate their household waste will face legal action, said Urban Wellbeing, Housing and Local Government Minister Datuk Abdul Rahman Dahlan. Owners of landed property would face a compound fine of RM50 for the first offence, RM100 for the second, and RM500 for subsequent offences. For high-rise homes, compounds will be imposed on the joint management body at RM100, RM200 and RM500 for the first, second and third offences respectively. The states affected by this ruling are the Kuala Lumpur Federal Territory, Putrajaya, Pahang, Johor, Malacca, Negri Sembilan, Perlis and Kedah. (The Malay Mail Online)

Related article: A guide to waste separation in Malaysia

Najib to investors: KL is your gateway to Asia Pacific region
British investors should come to Malaysia not only to capitalise on business opportunities, but use the country as a gateway to Asia Pacific and global markets, by deepening ties in new growth area, said Prime Minister Datuk Seri Najib Razak. He said the new growth areas were in emerging technology, high technology, capital-intensive, high value-added, knowledge-based, skills-intensive and export-oriented sectors. At the end of last year, British investments in Malaysia amounted to £3.4bil (RM19.5bil). About half of the investments were in the chemicals and petroleum products industries while another 14% are in electrical and electronics. Malaysian investments in the UK included hotels, healthcare, retail and leisure, with Malaysian companies and institutions among the largest investors in London’s commercial and residential property market. (The Star Online)

Plans for new East Coast Railway
The Land Transport Authority (SPAD) is currently engaged in a request for information (RFI) process for contracts to build a new East Coast Railway that will connect major towns and cities in the east of the peninsula. CEO Mohd Azharuddin said the 600km standard-gauge line will connect Kuala Lumpur with Bentong in Pahang and run through Terengganu to Tumpat, Kelantan. The trains will operate at up to 200km/h. Azharuddin says that in addition to boosting passenger connectivity, the new line is a major element of a strategy to increase freight traffic on the Malaysian rail network as it will serve established industrial areas. It is expected to take seven to eight years to complete, but there is not completion date as yet. (International Railway Journal)

MP: Set wage threshold for PTPTN repayment
A lawmaker has suggested that the government consider setting an affordability threshold for graduates to repay their student loans, and proposed that graduates only repay their PTPTN loans when their salaries hit about RM42,000 a year, which will allow them breathing space and the financial leeway to service their debt. He said that official statistics showed that many graduates struggled to repay their loans because of housing obligations and vehicular loans due to lack of public transport, and blacklisting them on CCRIS would only worsen the situation. He said another way to solve the problem was with an income-contingent repayment scheme, in which the rate of repayment would scale with the income of the borrowers. (The Malay Mail Online)

Related article: Don’t let PTPTN debt affect your chances of getting a housing loan!

OCR gets green light for property development diversification
O&C Resources Bhd (OCR) has received the green light from its shareholders for the company’s planned diversification into property development from its core business of manufacturing rubber and baby products. Its chief financial officer Bernard Tan said the plan to diversify into property is part of its turnaround plan after suffering profit losses for several quarters. the company is now in full force to begin development on its three property projects in Kuala Lumpur, Pahang and Malacca, with a combined gross development value of RM784 million. (New Straits Times Online)

Tien Wah in JV with Singapore firm for PJ mixed development
Printing firm Tien Wah Holdings Bhd is proposting a joint venture with Singaporean firm Kemensah Holdings Pte Ltd for a mixed-use commercial development in Petaling Jaya. Tien Wah’s subsidiary, Tien Wah Properties Sdn Bhd, had formed a joint venture company known asa Sterling Model Sdn Bhd with Kemensah for the proposed development of No 9 & 11, Jalan Semangat, PJ. The JV company will be a 50:50 venture between TWPSB and Kemensah. (The Edge Markets)

Malaysian starts RM9.25bil property project in Jinan
Malaysian tycoon Tan Sri Lim Gait Tong has started construction work on a planned 15bil yuan (RM9.25bil) integrated property project in Qihe, a north-west satellite town of Jinan, the capital city of Shandong province in China. The first phase of this cultural and touristic project, which has been named Asean International Eco-City, was launched in March and expected to cost 2.5bil yuan (RM1.5mil). The eco-city is set to be a launching pad and trading hub for entrepreneurs from China and Asean, comprising trade centres, convention centre, Asean cultural centre, Asean trade and commercial hub, luxurious hot spring spa resort, medical and health rejuvenation centre, resort villas and condominiums. (The Star Online)

Lim (sitting under the Farlim letters on the right) at a briefing on Asean International Eco-City.  --The Star Online

Lim (sitting under the Farlim letters on the right) at a briefing on Asean International Eco-City. –The Star Online