Perak govt pledges to build 50,000 affordable houses by 2022
The Perak government will build 50,000 affordable houses by 2022. State Housing and Local Government Committee chairman Paul Yong said that the government will build the “Rumah Perakku” houses via the Perak Housing and Property Board (LPHP). “The houses, which will cost below RM100,000, will be built based on the demand and growth of the people in a specific area or district,” he said. The houses will be constructed especially for the B40 group, whether in urban or rural areas, who have a household income below RM3,000. Yong also said the government is planning to revamp the Rancangan Perkampung Tersusun (RPT) by providing free houses for the hardcore poor. (Malay Mail)
Ekovest plans to raise up to RM203m
Ekovest Bhd plans to raise up to RM202.59 million via a private placement to repay bank borrowings, fund property development projects and for working capital. The proposed placement entails the issuance of up to 256.45 million new shares, representing 10% of its shares. Money raised from the planned private placement will partially fund the development cost of the EkoTitiwangsa and EkoCheras Hotel projects. The proposed private placement is expected to be completed by the third quarter of 2019. Its shares plunged 18.6% this morning, following last night’s announcement to Bursa Malaysia to clarify that it is not involved in the revived Bandar Malaysia project. (NST Online)
Bandar Malaysia’s 10,000 units will not affect affordable market
The building of 10,000 units of affordable housing in the revived Bandar Malaysia will not result in an oversupply because there is a lack of them in the city, property consultants, an economist and government housing agency PR1MA said. The project is located on the site of the former Royal Malaysian Air Force base in Sg Besi, Kuala Lumpur. “As a new mixed commercial/residential township, many job opportunities will be created for all strata of skill-level people. The affordable houses built will help this strata of workforce live near their workplace,” said PR1MA Malaysia chairman Tan Sri Eddy Chen. The proposed 10,000 affordable houses will not impact the current oversupply of residential homes in the Klang Valley as the majority of unsold units are not in that category, property consultant VPC Alliance managing director James Wong said. (The Star Online)
MRL says CCCC has no rights to extract minerals from ECRL land
Malaysia Rail Link Sdn Bhd (MRL) has refuted a claim that China Communications Construction Company Ltd (CCCC) will be able to state their claim on minerals or objects of interest during the construction of the 640-km East Coast Rail Link (ECRL) project. “Among others, Section 40 of the National Land Code clearly provides for the respective state authorities to have vested interest in any mineral and rock minerals which may be found within their respective territories of their state,” it said in a statement. It dispelled recent commentaries and news reports which suggested that CCCC may be able to extract minerals such as gold or silica and take ownership of such minerals in the midst of the construction of the rail network. (NST Online)
Human Resources Ministry to amend, update labour law
The Human Resources Ministry is seeking to tighten and make changes to the existing labour regulations and laws. These include the 64-year-old Employment Act legislated in 1955, the 60-year-old Trade Unions Act legislated in 1959, the 62-year-old Industrialisation Act legislated in 1957, the Minimum Standards of Housing and Amenities Act 1990, and the Occupational Safety and Health Act 1994. Human Resources Minister M. Kulasegaran said the move to amend the labour law was meant to further safeguard the rights of workers. The proposed legislative amendments would also include a clause on workplace discrimination. Kulasegaran said it would take time to change the laws as it would involve detailed discussions with stakeholders. (NST Online)
