Residents of KL, Labuan, Putrajaya may hawk anything and anywhere until April
Residents of KL, Putrajaya and Labuan may trade freely at any location within their respective federal territory from next week, said Tan Sri Annuar Musa. The FT minister was reported as saying the blanket allowance would run from November 15 to April 15 next year. Annuar said the decision was made after his ministry met with the Kuala Lumpur City Hall (DBKL), Putrajaya Corporation and Labuan Corporation to discuss ways to help Malaysians earn a living amid the ongoing movement control orders imposed due to Covid-19. Traders will be allowed to sell anything except contraband during this time, he said. However, the special dispensation was only applicable to Malaysians. He added those interested must first contact their respective local authorities and provide information on their plans of what they intend to trade and where they would be conducting business. “Traders must also apply for a temporary static hawker licence, which will be automatically approved throughout the six-month period,” Annuar said. (Malay Mail)
No need to scan MySejahtera app if you’re just refuelling at pump
Senior Defence Minister Datuk Seri Ismail Sabri Yaakob has clarified that those refuelling their vehicles at petrol stations without entering the convenience store and without coming into contact with anyone else, are not required to check-in via the MySejahtera mobile application. Motorists who pay with their eWallets or debit/credit cards for fuel at petrol kiosks are not required to check in with MySejahtera. Those who pay through the glass window will also be exempted from performing this task as long as there is no queue, he clarified. Those who go to the petrol station to inflate their tyres also do not have to register. However, anyone who goes into the convenience store, the surau or the toilet will still be required to check in, he said in response to confusion over limits to the check-in process. Ismail Sabri also clarified that anyone repairing their vehicles at the workshop within the petrol station or requires the manual car wash service will have to check in or register his personal details but those who opt for the automatic car wash do not have to check in unless they enter the store to make payments. The confusion arose after a man was slapped with a RM1,000 fine for failing to check in with the app when refuelling his vehicle. (The Sun Daily)
Tenants and owners keen to purchase a home with lower interest rates
A survey by property rental platform, Speedhome shows that up to 80% of the respondents, comprising tenants and owners are willing to purchase a house within the next three years or so, should loan interest rates and house prices fall at the same time. Up to 67.8% of the respondents said they would consider buying a house within three years, while 12% said they would consider buying if house prices continue to fall. “There is an oversupply of property (and) some interviewees believe that property prices are falling. If their income is not affected, they are willing to buy a house,” said Speedhome chief executive officer Wong Whei Meng. The survey showed that young people between the ages of 20 and 40 have confidence in the property market and up to 40% of the respondents think it is a good time to buy a house. At least 75% are Malaysians under the age of 40. He said interest rate is a critical factor for them to consider when buying a house. In terms of house prices, the range of RM200,000 to RM300,000 has become an indicator of affordable housing for Malaysians. (NST Online)
High tech, value-added investment incentives to ensure Malaysia remains competitive
The allocation of RM1 billion for high technology and high value-added investment incentive packages in Budget 2021 will ensure that Malaysia remains competitive in the global supply chain by maintaining the supply chain ecosystem and protecting high-skilled jobs, said Knight Frank Malaysia. The independent global property consultancy said the fund would also support research and development (R&D) in aerospace, as well as electronic clusters. Additionally, Bank Negara Malaysia will provide an additional RM500 million for the High Technology Fund to support high-tech and innovative companies. Interesting proposals and measures in Budget 2021 that give a glean on this bigger perspective are the introduction of new tax incentive for the establishment of a global trading centre and increase the limit for value-added and additional activities carried out in Free Industrial Zone and Licensed Manufacturing Warehouse. The measures also include the expansion of the Authorised Economic Operator platform to logistics service providers and approved warehouse operators and improvement of industrial park infrastructure and Internet connectivity. (The Edge)
Temporary flexibility for PLCs, REITs in new rights shares issuance
The Securities Commission Malaysia (SC) and Bursa Malaysia have introduced a temporary relief measure allowing eligible listed issuers to obtain mandated shareholder approval at a general meeting to undertake rights issue exercises. SC and Bursa Malaysia said the temporary flexibility to allow expedited right issue exercises by Public Listed Companies (PLCs) and listed real estate investment trusts (REITs) would be initiated via an enhanced rights issue framework. The framework allows the PLCs and REITs to issue new rights shares or units to their existing securities holders on a pro rata basis, up to 50% of the total issued shares or issued units. “Under this expedited process, eligible listed issuers will be granted greater flexibilities to manage market uncertainties while making capital calls, and fast track secondary fundraising, subject to certain safeguards,” they said. “This new general mandate for rights issue is in addition to the enhanced 20% general mandate for the issue of new securities, commonly utilised for private placements,” they said, adding that both relief measures are valid until Dec 31, 2021. (The Star Online)
