Interstate tourist travel allowed subject to strict conditions

Travel for tourism will be allowed under the targeted bubble travel between states under RMCO, says Senior Minister Datuk Seri Ismail Sabri Yaakob. The Defence Minister said this will take effect from Wednesday (March 10) and will be subject to strict conditions. He said that those who want to travel for domestic tourism can only do so by using tour agency vehicles where the operator will have to seek police permission to make the journey. Travel for tourism purposes using private vehicles is not allowed. Ismail Sabri said that travel for tourism purposes for those in CMCO areas is still not allowed and those in the RMCO states also cannot go on holiday in conditional MCO states. Travelling from one RMCO destination to another via a CMCO state is allowed, but the tour transport operators are not to stop in between destinations. States currently under the RMCO are Melaka, Pahang, Terengganu, Sabah, Putrajaya, Labuan and Perlis. Kuala Lumpur, Selangor, Johor, Penang, Kedah, Kelantan, Negri Sembilan, Perak, and Sarawak are under the CMCO. (The Star Online)

Vizione, NS Corp to jointly develop Malaysia Vision Valley 2.0

Integrated construction engineering group Vizione Holdings Bhd (VHB) today signed a memorandum of collaboration (MoC) with NS Corporation (NSC) to jointly develop Malaysia Vision Valley 2.0 (MVV 2.0). Under the MoC, both companies will discuss joint venture opportunities on the developments within the master land, covering districts of Seremban and Port Dickson. Current discussions centre on a development in stages with first phase being an international high speed processing, logistics, and distribution hub (IPLD) which will be part of a free trade zone. “This development is to cater for existing huge demand for such facilities. Free trade zones have proven to be one of the best catalyst of regional economic development,” said VHB executive director Chan Chee Wing. MVV 2.0 is an economic growth corridor initiated by the Negeri Sembilan state government. The state-led private sector-driven integrated economic development spans approximately 153,411 hectares of the master land. (NST Online)

(Source: INVEST NS)

Optimism building up in property sector

Property developers are turning more positive, as sales continue to recover from the impact of the Covid-19 pandemic despite the MCO earlier this year. Maybank Investment Bank Research (Maybank IB) in a report yesterday said most developers expect a better sales outlook for 2021, adding however that it may come at the expense of lower margins due to reduced pricing. Based on the sales momentum in the first two months of this year, coupled with the vaccine rollout, Maybank IB said developers are turning more positive on their 2021 sales outlook. “Nevertheless, we expect margins to continue to stay subdued as competition continues to rise. Also, margins are coming under pressure due to developers’ higher involvement in the affordable housing segment.” Separately, AmInvestment Bank said new sales in 2020 were generally lower year-on-year. “Developers are more aggressive in clearing unsold units by offering discounts with the inventory level on a declining trend. We believe that this is a positive move to realise cash flow.” “We believe that consumer sentiment shall remain weak for the time being with spending mainly focused on necessities, while big-ticket items such as properties will take a back seat for now,” it added. (The Star Online)

MRCB enters New Zealand with RM1.3bil TOD project

Malaysian Resources Corporation Bhd (MRCB) will develop housing, offices, and retail with a combined value of RM1.3 billion (NZ$452 million) above the Aotea train station in Auckland, New Zealand. The project, which has been provisionally dubbed Aotea Central, is a regeneration development. It comprises a 21-storey building, featuring ground floor retail, nine levels of commercial workspaces, and 63 luxury apartments, with integrated access to the train station. MRCB said the project will be developed via a partnership with Auckland Council development agency Panuku. The council gave the green light in 2018 to sell the property, which was previously a carpark for council vehicles. The deal is said to be one of the biggest in dollar terms negotiated for an Auckland Council-owned site, and is the first for major developments directly above two new underground stations on the 3.5km City Rail Link (CRL). The project will start after the completion of the NZ$4.4 billion CRL in mid 2024, and is expected to take about three years. (NST Online)

‘Revenge tourists’ to boost domestic travel sector, says Tourism Malaysia DG

Malaysia is banking on domestic “revenge tourists” to boost the battered leisure travel sector once it’s safe to holiday again, says Tourism Malaysia director-general Zulkifly Md Said. “Our domestic tourists are waiting to travel again, especially interstate travel. If they are allowed to cross state borders, they would do so,” he said. Zulkifly added that Tourism Malaysia has observed encouraging travel movement with the lifting of interdistrict travel ban recently. The term “revenge tourism” describes the huge desire from people to travel after being stuck at home amid the Covid-19 pandemic. Tourism activities are currently allowed in areas under CMCO and RMCO, but tourism activities in CMCO areas would be limited to 50% of the capacity of the premises. Among the activities allowed include public and tourist attractions such as zoos, cultural heritage sites, museums, farms, aquariums, edutainment centres, recreational parks, theme parks, extreme and nature park outlets. (The Star Online)