Another MCO will kill more businesses, warns SME Association

The SME Association of Malaysia is concerned that another round of movement control order (MCO) might lead to folding of more local businesses and increased unemployment in the country. Its vice president Chin Chee Seong said that another round of MCO would “just kill more businesses which are currently just grappling with staying afloat”. The Federation of Malaysian Manufacturers (FMM) also requesting for business and economic activities to be allowed to continue operating, albeit under stricter SOP. It supports a targeted conditional MCO which is more localised with stricter SOP and travel restrictions but not a total lockdown. “Although we appreciate the need to strike that delicate balance between saving lives and saving livelihoods, a second round of total lockdown would be disastrous for SMEs which would then be forced to lay off employees,” said Chin. (Malay Mail)

Malaysia hits another record high with 3,027 new daily Covid-19 cases

Malaysia yesterday reported a new record of 3,027 Covid-19 daily infections. Health director-general Tan Sri Dr Noor Hisham Abdullah said Johor recorded 1,103 cases followed by Selangor and Sabah at 706 and 493 cases respectively. This is the first time Johor recorded the highest number of cases compared to other states that have been leading in numbers such as Selangor and Sabah. Dr Noor Hisham Abdullah said that the Malaysian healthcare system was now “pressured and at a breaking point” and there is a need for a circuit breaker or targeted lockdown. He said the Ministry of Health (MOH) is bracing for another spike in cases in the coming weeks on the back of the recent festive season. Malaysia also recorded eight deaths, bringing the total to 521. (Malay Mail)

Elon Musk surpasses Jeff Bezos as world’s richest person

Elon Musk, the outspoken entrepreneur behind Tesla Inc and SpaceX, is now the richest person on the planet. A 4.8% rally in the electric carmaker’s share price Thursday boosted Musk past Amazon.com Inc founder Jeff Bezos on the Bloomberg Billionaires Index, a ranking of the world’s 500 wealthiest people. The South Africa-born engineer’s net worth was US$188.5 billion at 10:15 a.m. in New York, US$1.5 billion more than Bezos, who has held the top spot since October 2017. Over the past year his net worth soared by more than US$150 billion in possibly the fastest bout of wealth creation in history. Despite his astronomical gains, Musk has said he has little interest in material things and has few assets outside his stakes in Tesla and SpaceX. Earlier this week, China’s Zhong Shanshan vaulted past Warren Buffett to claim the sixth slot after shares of his bottled-water company surged, adding US$15.2 billion to his fortune. (The Edge)

Elon Musk passes Jeff Bezos to become the richest person on Earth - The Verge
Elon Musk (Source: The Verge)

LBS Bina to launch RM2.65bil worth of projects

LBS Bina Group Bhd plans to launch property projects with a cumulative GDV of RM2.65bil in 2021, exceeding last year’s GDV for new launches worth RM1.49bil. The new developments in the pipeline would include projects in the Klang Valley, Johor, Perak and Pahang. LBS recorded total sales of RM1.2bil last year, surpassing its revised target of RM1bil. LBS’ original sales target for 2020 was RM1.6bil, but this was lowered in light of the impact of the Covid-19 pandemic. LBS group managing director Tan Sri Lim Hock San said the group would focus on building affordable properties. In 2020, LBS launched a total of 14 projects with a GDV of RM1.49bil. Currently, the group has 19 ongoing projects with an estimated GDV of RM4.95bil. (The Star Online)

Flood victims can have damaged RTD documents replaced for free until April 15

Flood victims whose Road Transport Department (RTD) documents such as motor vehicle licence, driving licence or vehicle ownership certificate, have been swept away or destroyed by flood waters, can have them replaced for free until April 15, 2021. The RTD said the offer for free replacement is effective immediately and this is one of the initiatives introduced by the department to help those affected. The licence holders themselves must bring along the damaged documents in order to obtain the replacement copy, while for documents that are destroyed or lost, the owners must make a police report and submit the report as proof of loss, before a replacement copy can be issued. Due to the current flood situation, the RTD said it is giving some flexibility to owners of commercial or personal vehicles to use the vehicles for rescue operations and to transport relief supplies to evacuees. RTD mobile units will be stationed at selected areas, especially at the relief centres. (Bernama)