PM: Budget 2021 to have special focus on sustainability

Prime Minister Tan Sri Muhyiddin Yassin said a special focus on sustainability will be included in Budget 2021, with a very important announcement on it to be made this Nov 6. Describing the Covid-19 pandemic as a wake-up call for the world, Muhyiddin said Malaysia, just like any other country, needs to rethink its development agenda particularly in regards to sustainability and green technology, which plays a vital role in driving the economy. “Lockdowns across the world made us reflect, made us think and we started to realise that we need to change our ways. We need to rethink our relationship with the planet and we need to build back better. Due to all of us being at home, we also noticed we had better air quality and mother earth had time to reinvigorate… The lesson is, there is a promising path of green recovery as we wade through this pandemic,” he said. (NST Online)

Proposal to implement MCO in certain areas being assessed

The government is waiting for the assessments of several ministries including the Ministry of Health (MOH) before deciding to implement the Movement Control Order (MCO) in states and territories which are under CMCO. Senior Minister (Security Cluster) Datuk Seri Ismail Sabri Yaakob said any decision to implement MCO must take into account various aspects as it would affect the economy and the lives of the people especially those depending on daily income. The current CMCO, affecting Kuala Lumpur, Selangor and Putrajaya, is set to end on Oct 27. On the SOP for Deepavali on Nov 14, he said the National Security Council (MKN) would issue a SOP especially in the CMCO areas including permission to hold trading bazaars which were of public foci especially by the Indian community before such festivals. (Bernama)

LifeCare buys SS2 mall from DK-MY Properties

LifeCare Property (SS2) Sdn Bhd, a subsidiary of private medical care operator LifeCare Diagnostic Medical Centre, has bought SS2 mall in Petaling Jaya from DK-MY Properties Sdn Bhd. LifeCare said the mall would be revitalised into Malaysia’s first one-stop healthcare lifestyle mall. “The mall is set to provide professional and affordable medical solutions for everyone and will house more than a dozen specialties and first of its kind facilities in the country, such as a Urology and Nephrology Hospital. This is in addition to the holistic healthcare services including primary and specialist care,” it said in a statement. LifeCare said refurbishment works were being carried out for the upcoming mall. It is expected to open its doors to serve the community by mid-2021. There are plans to engage vendors to occupy retail lots within the mall to offer complementary products and services to customers, such as traditional Chinese medicine and chiropractic services. Meanwhile, DK-MY Properties said it aims to introduce two residential blocks in conjunction with the launch of LifeCare DK Mall. (NST Online)

Perak extends late assessment payment penalty waiver, arrear discounts till December

The Perak state government has agreed to extend the offer to waive late assessment payment penalties and discounts on arrears as well as payment for land premiums effective immediately. Perak Mentri Besar Datuk Seri Ahmad Faizal Azumu said the offer, which ended in August, has been extended until December 31 under Phase Three of the State Economic Stimulus Package. “For the exemption of late fines, it is for Recurrent Land Tax for all types of property,” he said. On the discount for lump-sum payments of arrears, Ahmad Faizal said a 30% deduction would be given for arrears exceeding RM1 million, while arrears of between RM500,000 to RM999,000 were eligible for a 25% reduction. A 20% discount would be given for tax arrears below RM500,000, while a 15% reduction would be given to those who settled their assessment arrears in installments until December 31. The fine exemptions and discounts would reduce the state’s revenue potential by RM6.65 million. (Malay Mail)

London super-prime property sales rise despite Covid-19, greater enquiries from Malaysians

London super-prime property market has seen more money being spent on £10 million-plus properties this year than 2019, despite the Covid-19-related movement restrictions. According to Knight Frank’s Super-Prime Market Insight – Autumn 2020, a total of £1.13 billion was spent on London super-prime properties during January-August. This was 16% higher than the figure of £977.5 million recorded during the same time period last year. Knight Frank Malaysia international residential project marketing associate director Dominic Heaton-Watson said the 16% year-on-year (Y-o-Y) increase also corresponds with the higher levels of enquiries from its Malaysia-based clients. He said despite all the concerns of Covid-19 in global markets, London remains the top overseas property investment destination for Malaysia given its broad-based economy, transparent legal system, culture and heritage and world-class education facilities. (NST Online)