CMCO to end, replaced with RMCO until Aug 31
Prime Minister Tan Sri Muhyiddin Yassin has announced that the Conditional Movement Control Order (CMCO) currently enforced will end June 9 and will be replaced with the Recovery Movement Control Order (RMCO). The RMCO would take effect from June 10 until Aug 31 with more lenient restrictions. Under this new phase, interstate travel will be permitted, except for areas placed under Enhanced MCO (EMCO). Domestic tourism will be allowed and is encouraged. However, international travel is not permitted as the country’s borders remain shut. Almost all social, religious, business and educational activities are allowed to resume in stages under strict SOPs during the RMCO. Businesses allowed to operate throughout the RMCO include hair salons and open markets such as “pasar pagi” and “pasar malam” (morning and night markets). Sports and recreational activities will be subject to strict SOPs. Sports events and contact sports, however, are still not allowed during the RMCO. Schools will be opened in stages and the Education Ministry will make an announcement soon on the matter, said Muhyiddin. (NST Online)
HOC reintroduced, tax exemption for disposal of three properties
The government wants to stimulate the property sector again and it is with this in mind that Home Ownership Campaign (HOC) will be reintroduced while there will also be stamp duty and Real Property Gains Tax (RPGT) exemptions. The new HOC will be take place from June 1, 2020 to May 31, 2021 and incentives under the campaign include stamp duty exemption on the instruments of transfer and on loan agreements for the purchase of residential homes priced from RM300,000 to RM2.5 million. Homebuyers also get to enjoy an at least 10% discount from property developers on the approved purchase price of a property. As for the RPGT, it be will be exempted for the disposal of residential properties by Malaysian individuals from June 1, 2020 to Dec 2021, limited to three properties per individual. Meanwhile, the 70% margin of financing limit for the third housing loan onwards for property valued at RM600,000 and above will be lifted during the HOC period, subject to the financial institution’s internal risk management. (The Edge)
Personal grooming businesses can resume operations on June 10
The government has finally allowed barbers, hairdressers, and personal grooming businesses to resume operations amid tight regulations beginning this Wednesday, June 10. The permission to resume also affects manicure and pedicure businesses, as well as those offering facials. “This is of course with tight standard operating procedures; and includes basic hair cuts, hair wash, shaving of facial hair, makeup and hair treatments, manicure and pedicures, and facial treatment centres,” he said. He also affirmed that the permission to operate also affects barbers and hairstylists providing house calls. Among the regulations, businesses would have to adhere to include the single-use of disposable safety gloves and aprons for both the stylist and customer that must be changed after every patron. (Malay Mail)
RM50 eWallet credit only for Malaysians with MySejahtera app
Eligible Malaysians will soon receive RM50 eWallet credit with an additional RM50 worth of discounts and cashback as part of the ePenjana initiative that was announced by the Prime Minister. In order to receive this benefit, Senior Minister Datuk Seri Ismail Sabri Yaakob revealed that applicants will need to download the MySejahtera app. This is to encourage more Malaysians to download the MySejahtera app which will help health authorities in its effort to contain the Covid-19 pandemic. The app also enables contact tracing at business premises via QR code. The RM50 credit is expected to be credited directly to verified eWallets starting next month. The ePenjana programme will run from July until September 2020 and is expected to benefit 15 million Malaysians. The eWallet initiative is only applicable to Malaysians aged 18 years old and above, and with an annual income of less than RM100,000 per year. Unlike the previous eTunai Rakyat programme, the RM50 eWallet credit can only be used for offline and physical purchases. (Malay Mail)
World Bank: Malaysia’s economic recovery to begin end of 2020
Malaysia’s economy can be expected to be on the recovery path starting from the end of this year and return to growth into 2021, says the World Bank. Its country manager for Malaysia, Dr Firas Raad, said the country needed to continue with its encouraging and effective public health measures while bringing the economy back to where it was before the Covid-19 pandemic. He said pro-growth policies, coupled with incentives to push the private sector were crucial ingredients to employ to help the nation recover from the economic downturn. Firas said Malaysia should continue its effort on the reform agendas such as those involving governance, regulatory environment and competition of economic sectors, as well as education reform, in its bid to achieve high-income nation status. The bank in April cut Malaysia’s 2020 GDP growth forecast from 4.5% to a negative 0.1%, amid the Covid-19 outbreak. (The Star Online)
