Hong Kong leader says sorry as protesters insist she quits
Hong Kong’s leader Carrie Lam apologised to its people on Sunday as an estimated 1 million-plus black-clad protesters insisted that she resign over her handling of a bill that would allow citizens to be sent to mainland China for trial. Organisers said almost 2 million turned out on Sunday to demand that chief executive Lam step down in what is becoming the most significant challenge to China’s relationship with the territory since it was handed back by Britain 22 years ago. Sunday’s demonstration came in spite of Lam indefinitely delaying – though not withdrawing – the bill on Saturday. Organisers pressed ahead with the protest to demand the bill’s full withdrawal, as well as to mark their anger at the way police handled a demonstration against it on Wednesday, when more than 70 people were injured by rubber bullets and tear gas. Critics say the planned extradition law could threaten Hong Kong’s rule of law and its international reputation as an Asian financial hub. Some Hong Kong tycoons have already started moving personal wealth offshore. (The Star Online)
EcoWorld Malaysia partners PowerChina Group for development, infra projects
Eco World Development Group Bhd (EcoWorld Malaysia) has announced its collaboration with PowerChina Group for property development and infrastructure projects in Malaysia. The two parties have inked a conditional joint venture to develop 117.35 acres of industrial land to be known as Eco Business Park V Phase 2 in Shah Alam through EcoWorld’s subsidiary Paragon Pinnacle Sdn Bhd and a Malaysian incorporated subsidiary of the PowerChina Group. The JV will develop the 117.35 acres as Eco Business Park V Phase 2, an industrial project involving the development of medium to large individual industrial lots for light industries. Eco Business Park V Phase 2 is expected to have a GDV of RM850 million. In addition, EcoWorld Malaysia has also signed a MoU with PowerChina Group’s infrastructure arm to jointly bid for infrastructure projects in Malaysia. (The Sun Daily)
More defaults expected in the second half
The number of properties entering the auction market as a result of default payments is expected to increase in the second half of this year, a valuer said in early May, and further confirmed by a bank source to be the case. Banks begin foreclosure proceedings if borrowers default for three consecutive months instead of six as was previously. According to auctioneers Ng Chan Mau & Co Sdn Bhd, the volume of auctioned properties in 2017 was 29,282 units valued at RM12.91bil for the entire country. This rose 20% to 35,243 valued at close to RM16.24bil in 2018. 90% of the properties are residential units. Ng Chan Mau’s annual volume/value figures differ from AuctionGuru.com, which exclude properties which have been withdrawn from the market. However, despite the difference in numbers, the number of units entering auctions is rising every quarter. This means housing loan defaults are rising. (The Star Online)
Loke: Landowners affected by ECRL project will be compensated
Owners of private land acquired for the development of the East Coast Rail Link (ECRL) project will be duly compensated, says Anthony Loke. The Transport Minister said, however, it would be decided after the alignment of the mega project is finalised this year before the expected land acquisition process takes place next year. Loke said that as soon as the ECRL alignment is finalised, the government will obtain feedback from stakeholders and hold public information sessions. He is confident that the ECRL project will attract investors to develop the industrial area in Jelebu, as well as provide more employment opportunities to the local community. It was announced in April that the ECRL project will resume at a lower cost. (The Star Online)
Source: VectorStock
No more straws in Selangor F&B outlets from July 1
All food and beverage outlets including restaurants in Selangor are prohibited from providing plastic straws at the counter to be freely picked up by customers from July 1. Plastic straws would only be given at the request of the customer for each drink that was ordered. The implementation of the policy on reducing the use of the plastic straws was approved by the state exco on Wednesday.All local authorities will include the ban in the terms of business licence application. The policy is in line with the government’s intention to increase awareness and reduce the use of single-use plastics such as plastic bags, polystyrene, coverings or plastic food coatings, disposable plastic materials and so on. (The Star Online)
