Govt to announce decision whether to extend MCO on Friday (April 10)

On Friday (April 10), the public will know whether the movement control order (MCO), enforced since March 18, will be further extended to curb the spread of Covid-19. The MCO was initially enforced until March 31, but extended to April 14 and this Friday (April 10), the government is expected to make the much-awaited announcement on whether it will be further extended. Many people are hoping the MCO, which enters its 22nd day Wednesday (April 8), will not be further extended so that they could return to their normal lives, but it will all depend on the Covid-19 situation in the country and the government will certainly not place the health of its people at stake. For the record, Malaysia has recorded 69 Covid-19 sporadic cases (cases where the source of infection cannot be traced). The country’s crime index has dropped by 70% since the MCO was enforced, but the number of individuals caught for defying the MCO increased to 6,451 people as of Tuesday. (The Star Online)

New SOP on Covid-19 soon

The government is in the midst of preparing a guideline based on colour-coded zones with Covid-19, which may see certain leeway being given to people in green zones, says Senior Minister Datuk Seri Ismail Sabri Yaakob. However, he said the matter has not been finalised and must be looked into in detail. He said a standard operating procedure (SOP) on the matter would be tabled in the special Cabinet committee meeting tomorrow by the National Security Council (NSC) and Home Ministry. The SOP will also tackle many aspects post-movement control order (MCO). The country’s Covid-19 cases are broken up into four categories: Green (no cases); Yellow (1-20 cases), Orange (21 to 40 cases) and Red (40 cases and above). (The Star Online)

Penang applies to raise worker limit for strata residence

The Penang government will be submitting an application of highrise properties strata management in the state on the maximum limit of workers during the movement control order (MCO) to the Housing and Local Government Ministry (KPKT) for consideration. Penang Housing, Local Government, Town and Country Planning Committee chairman Jagdeep Singh Deo said strata managements claimed the maximum limit of two workers at one time during MCO is not reasonable based on the size of the housing scheme. It is estimated that if one unit has a household of four, they will comprise 1.2 million residents from the 1.8 million population of Penang,” he said. With such high density at strata premises, Jagdeep advised all residents to help look after their safety and health while practising social distancing within the housing scheme. (Malay Mail)

Right pricing key factor in secondary property market

Property investors and owners with non-performing properties who are looking for a quick cash injection are advised to take appropriate steps to attract prospective buyers for their properties, starting with setting the right price. Real estate agency Rahim & Co International Property Consultants chief executive officer Siva Shanker said even during this Movement Control Order (MCO) period, they would be able to find buyers, so long as they study market conditions and take the right approach to stay ahead of the ‘market curve’. “When you make it attractive and do your research, it will be a strong motivation for buyers to come in,” he said in a virtual conference. He also advised property investors and owners not to chase the market and to set the price for the properties based on the current situation. Meanwhile, S K Brothers Realty (M) Sdn Bhd’s principal Chan Ai Cheng said appointing the right real estate agent is also crucial in this secondary market segment. (NST Online)

Khazanah quashes Golden Skies’ US$2.5bil Malaysia Airlines takeover bid

Khazanah Nasional Bhd is not convinced by Golden Skies Ventures Sdn Bhd’s US$2.5 billion (RM10.88 billion) offer to fully acquire its subsidiary Malaysia Airlines Bhd, despite the latter having claimed a financing back up from a European bank. Khazanah managing director Datuk Shahril Ridza Ridzuan said it would be “cautious” on whether the offer was made with financial backing, given the global airline crisis and credit risk aversion. Khazanah is Malaysia Airlines’ sole shareholder through its holding company Malaysia Aviation Group (MAG). Golden Skies had submitted its proposal to Morgan Stanley, the banker hired by Khazanah. Air France-KLM, Japan Airlines and domestic carriers AirAsia Group Bhd and Malindo Air were previously said to have shown interest in Malaysia Airlines. (NST Online)