Ismail Sabri: Govt to consider tighter CMCO rules for Klang Valley

The government is looking to add new regulations in the conditional movement control order (CMCO), especially in yellow zone areas in Selangor, Kuala Lumpur and Putrajaya. Senior Minister Datuk Seri Ismail Sabri Yaakob said the National Security Council (NSC) is scheduled to table several amendments to curb the Covid-19 surge as all three locations still have red zones and active cases. “We want to protect the people health-wise, that is why tomorrow NSC will table their plans perhaps by tightening (the rules) but not close businesses,” he said. Selangor, Kuala Lumpur and Putrajaya have been placed under CMCO since October 14. According to the Ministry of Health, there are currently 1,240 active Covid-19 cases in the area with Selangor recording 129 new cases today, Kuala Lumpur (20 cases) and Putrajaya (6 cases). (Malay Mail)

Cicet Asia earmarks RM100 million for business expansion in the region

Despite facing the pandemic-induced adversity, multinational property developer Cicet Asia Development Sdn Bhd (CAD) remains upbeat on Malaysia’s property market, particularly for high-rise residential development like Greenfield Residence at Bandar Sunway. Project director Tan Swee Ee said 2020 had been the most challenging year in decades and the property sector, along with other sectors, were affected by the pandemic. However, he expects a gradual recovery as the economy re-opens and people adapt to the ‘new norm’. “The low-interest rates, promotional campaigns and discounts coupled with the Short-term Economic Recovery Plan (PENJANA) by the government, namely the reintroduction of the Home Ownership Campaign (HOC), will help to regenerate the whole sector,” he said. CAD recently launched their Relief Care Program (RCP), which offers low down payment and easy exit plan for any reason, free legal and disbursement fee on sales and purchase agreement (SPA) and loan, as well as generous incentives. It has earmarked RM100 million to increase its business size and operations in Malaysia. (NST Online)

Govt mulls adding new terms and conditions to MM2H programme

New terms and conditions may be introduced when Malaysia My Second Home (MM2H) programme is reactivated. Tourism, Arts and Culture Minister Datuk Seri Nancy Shukri said the programme, which has been frozen due to the Covid-19 pandemic, resulting in border closures, would allow the government to review various aspects. They include the criteria, conditions and incentives for the programme which allowed foreigners to stay in Malaysia for 10 years. “This is the best time for the government to study the programme, which has never been reviewed since its inception in 2002. The government must renew the terms and condition for the betterment of the system” she said. Nancy said the country recorded over RM2.7 billion revenue through the programme in 2018, RM2.5 billion last year and RM214 million this year. The highest number of participants came from China, followed by Japan, Bangladesh and Korea. (NST Online)

WCE highway project to be completed by 2024

The Selangor State Legislative Assembly was today told the route of the West Coast Expressway (WCE) in the state would be completed in 2024, a slight delay from the initial projection. State Infrastructure and Public Facilities, Agricultural Modernisation and Agro-based Industry, Ir Izham Hashim said based on the original schedule, the WCE route was expected to be ready by the end of 2022 or early 2023. However, he said the project is slightly delayed due to issues on land acquisition in Banting apart from a new route in package seven at Tanjong Karang. “Apart from land acquisition, the implementation of the Movement Control Order in March also contributed to the delay in completing the project,” he said. “We would monitor closely to ensure minimal disruption to residents during the land acquisition as the area [in Tanjong Karang] is quite densely populated,” he added. (Bernama)

DBKL sells Cheras land to Tadmax for RM37.4 million

The Kuala Lumpur City Hall (DBKL) has sold a parcel of land in Cheras to Tadmax Resources Bhd’s 55%-owned unit for RM37.4 million. Its 55%-owned subsidiary Builtamont Development Sdn Bhd signed a sale and purchase agreement last Friday with DBKL to acquire leasehold land that measures 2.6 acres. The land is located on the east side of Jalan Desa Aman 1, off Jalan Cheras, Taman Desa Aman, Cheras. “The group presently has two ongoing property development projects which represent all its existing land bank,” it said. Tadmax seems to be on a land acquisition trail, as it is currently in the midst of acquiring two pieces of land, both located in Cheras, Kuala Lumpur, for future developments. “For each of the two pieces of land, completion is envisaged in November 2020 and January 2021 respectively,” it noted. (The Edge)