Cinema, pools, live events, AGM allowed from July 1

The government has agreed to allow cinemas, theatres and live events to resume, says Datuk Seri Ismail Sabri Yaakob. All organisations, including political parties, sports bodies and corporations, will also be allowed to hold their annual general meeting (AGM). These activities can resume beginning July 1. However, they should not exceed more than 250 individuals at any given activity or time. “It also depends on the capacity of the hall, but the usual standard operating procedure (SOP) set, especially on social distancing, must be observed at all times,” he said. He also announced that the government has agreed to allow public as well as private pools at hotels, gated residences, apartments, and condominiums to resume from July 1 onwards. The number of people allowed in these pools is also based on the capacity and the pool size. Ismail also announced that water-related activities at lakes, rivers, and sea are allowed to resume, but must follow SOPs. Water theme parks, however, are still not allowed to operate, he added. (The Star Online)

Property demand expected to spike on investors’ interest

The short-term National Economic Recovery Plan (Penjana), which includes various incentives that could spur the growth of the property market, has created more space for cash-rich property punters to manoeuvre for quick profit. Knight Frank Malaysia MD Sarkunan Subramaniam said the new Home Ownership Campaign (HOC), which is part of Penjana, saw heightened demand particularly for good products and locations that are offered by the more reputable developers. The scheme has resulted in encouraging sales for several new projects. For instance, IJM Land Bhd recently announced that Phase 1 of its Starling project in Bandar Rimbayu, Selangor, was sold out within 24 hours. Mah Sing Group Bhd’s latest high-rise residence project, M Luna, in Kepong, Selangor also recorded an overwhelming response last week. The low interest rate is also expected to keep real estate agents and negotiators busy. The demand is for both the secondary and primary markets, which is evident from the number of prospective buyers who have been visiting various sales galleries. (The Malaysian Reserve)

Genting SkyWorlds outdoor theme park to open 2Q21, featuring 20th Century Fox attractions

Genting Malaysia Bhd (GENM) is targeting to open its outdoor theme park — which will be named “Genting SkyWorlds” — in the second quarter of 2021 (2Q21). While “20th Century Fox” has been dropped from the name from its multibillion-ringgit outdoor theme park, the new outdoor theme park will still feature movies from 20th Century Fox as well as other unnamed “international class” movie-themed attractions, said GENM chief financial officer Koh Poy Yong. The 2Q21 targeted opening date for the outdoor theme park is slightly earlier than the 3Q21 the group has recently guided analysts. In July 2019, GENM told Bursa Malaysia that it had resolved its dispute with 20th Century Fox Film Corp, Fox Entertainment Group LLC, Twenty-First Century Fox Inc and Walt Disney Company over the development of its outdoor theme park. The settlement reached grants GENM a licence to use certain intellectual properties of Fox. (The Edge)

resort world genting fox theme park

Freeze on recruitment of foreign workers until year-end

There will be no new intake of foreign workers in all sectors until the year-end as locals will be given priority to fill up vacancies, says Human Resources Minister Datuk Seri M. Saravanan. “They (foreigners) can come as tourists, if they are allowed,” he said. There are now about two million foreign workers in the country. “We try to reduce foreign workers in the workforce besides giving priority to locals to secure jobs,” he said. Saravanan said the ministry would evaluate the move by year-end to see if it was effective in helping the locals. He advised job seekers not to be choosy about jobs to help the country reduce its dependence on foreign workers. (The Star Online)

Gemas-JB double tracking project to be completed by Oct 2022

The Gemas-Johor Baru double tracking and electrification project is expected to be completed by Oct 2022 despite a slight delay caused by the Movement Control Order (MCO). Minister in the Prime Minister’s Department (Economy) Datuk Seri Mustapa Mohamed said the MCO had led the project to be delayed by 1.6%. The project was initially targeted to be completed by October 2021. However, issues related to land acquisition led to the completion date being pushed back by a year. Mustapa also said that the delay would not result in any increase in the cost of the project. The project, which involved the construction of 192km of electrified double track and 11 stations, costs about RM9.55 billion, including consultation costs and acquisition of rolling stocks. “The completion of this project would complete the double tracking for the west coast of Peninsular Malaysia,” he said. (NST Online)