Malaysia remains an attractive investment destination in Asia – MIDA

Malaysia continues to be the investment destination for high-value manufacturing and global services in Asia, the Malaysian Investment Development Authority (MIDA) said. The country remains an attractive investment destination with a favourable environment including the availability of excellent infrastructure, telecommunication services, financial and banking services, supporting industries, skills and trainable workforce, as well market opportunities offered through the 16 Free Trade Agreements that it has signed. The statement is in response to a recent report by a Singapore daily regarding foreign investors fleeing Malaysia. MIDA stated that it has identified 240 high-profile foreign investment projects including Fortune 500 companies in the manufacturing and services sectors, with a combined potential investment value of RM81.9 billion. MIDA said the total FDI approved from 2018 to September 2020 was valued at RM206.02 billion. (Bernama)

Chin Hin aiming to develop projects with GDV of RM3.7 billion in next two years

Chin Hin Group Property Bhd aims to generate RM3.73 billion in GDV from on-going and future developments in the next two years. The group said it is spending RM268 million to acquire 81.9 acres of land for the development of five different property projects situated in the Klang Valley. This is in line with the group’s overall strategy to aggressively expand its property development segment. Chin Hin executive director Chiau Haw Choon said it intends to expand its portfolio of developments to various growth corridors in the Klang Valley such as Serendah, Bandar Kinrara, Bangsar South, and Cyberjaya. The types of developments that are being proposed include townships, serviced apartments, mixed-use developments and offices. He said with the increasing prospect of effective Covid-19 vaccination this year, there is optimism that the property market will see a turning point soon. Also, historic low interest rates and various homeownership incentives will certainly bring some vibrancy to the market. (The Sun Daily)

One year for country to achieve herd immunity, say scientists

The country is expected to need a year to achieve herd immunity for the coronavirus through the National COVID-19 Immunisation Plan, one of the largest vaccination programmes in Malaysia. Scientist Ts. Dr Ummirul Mukmimin Kahar from the Malaysian Genome Institute, National Institutes of Biotechnology Malaysia (NIBM) said that to achieve herd immunity, 80% of the population needs to be vaccinated with the COVID-19 vaccine. Malaysia is expected to receive the COVID-19 vaccine from Pfizer-BioNTech by the end of February with frontline staff being among early recipients of the vaccine. He said it was very important for the country to achieve group immunity because it not only protects those who have been vaccinated, but also the people around them. “This is important to protect those at risk (people who are susceptible to infectious diseases) such as children, the elderly, and people with chronic diseases (cancer or HIV),” he said. (Bernama)

Covid-19 vaccine herd immunity

UNICEF: Unemployment among KL urban poor doubles since September

Unemployment among heads of low-income urban families in Kuala Lumpur low-cost flat has doubled during the last year’s Conditional Movement Control Order (CMCO), said United Nations Children’s Fund (UNICEF). The survey by UNICEF and United Nations Population Fund (UNFPA) undertaken in December last year, found that the socio-economic conditions for around half of the households surveyed continue to deteriorate. Joblessness among heads of households has doubled from 7% in September 2020 to 15% in December 2020, and one in three adults in participating households remain unemployed. The poverty rate among these families remains high at 42%, although government assistance during the period helped to mitigate the severity of their deprivation. (Bernama)

Ministers only need to undergo 3-day observation upon return from official overseas duties

Ministers returning from official duties overseas are now exempted from Section 15 the Prevention and Control of Infectious Diseases Act 1988 (Act 342) from tomorrow onwards, a check on the e-Federal Gazette showed. The gazettement of the Prevention and Control of Infectious Diseases (Exemption) Order 2021 is dated February 2, but takes retrospective effect from February 9 until August 1 which spans the entirety of the state of emergency. “The Cabinet of Ministers who returns from any overseas official visit shall undergo observation for three days or undergo surveillance until be discharged without danger to the public,” the condition of exemption reads. Currently, Malaysian returnees are required to undergo a 10-day mandatory quarantine at home even if they test negative for Covid-19 upon arrival. (Malay Mail)