Klang Valley under EMCO

An enhanced movement control order (EMCO) will be imposed in most parts of Selangor and Kuala Lumpur from tomorrow until July 16, and only selected factories are allowed to operate. Senior Minister (Security) Datuk Seri Ismail Sabri Yaakob said only factories producing rice, bread, sugar, cooking oil, wheat, fresh milk, baby formula, medicine and face masks will be allowed to operate throughout the period. He said the enhanced MCO was needed given the rise in Covid-19 cases. Ismail Sabri said all residents in the enhanced MCO areas are not allowed to leave their homes except for one person from each home who will be allowed to buy basic necessities within 10km of their homes. “No movement outside of homes beyond 8pm, unless for emergencies or with prior approval from the police. Only one passenger is allowed inside taxis and e-hailing vehicles,” he said. However, inter-district and inter-state travel will be permitted for those with vaccination appointments. Those not in the approved list of services are prohibited from working onsite. As for restaurants, only take away or drive through services will be allowed. “No sports, social and recreational activities are allowed throughout this period,” he added. (The Star)

EMCO Klang Valley July 2021

Nine-week interval for AstraZeneca doses

The Special Committee on Covid-19 Vaccine Supply has agreed to shorten the interval between doses of the AstraZeneca vaccine from 12 weeks to nine. Khairy Jamaluddin, the coordinating minister of the National Covid-19 Immunisation Programme, said the committee made the decision following the advice of its panel of experts. “For the record, the nine-week dosing interval is still in line with the guidelines set by the vaccine’s manufacturer AstraZeneca, which is four to 12 weeks,” he said. Khairy said those who participated in the first round of the AstraZeneca opt-in initiative will be notified of their second appointment soon. The first batch of AstraZeneca vaccine recipients in Malaysia received their jabs in early May, which means the earliest they would be getting their second dose would be in the first weeks of this month. However, they will not be getting a different brand for their second dose, as Malaysia has decided not to use the “mix-and-match” approach practised in some European countries. (The Star)

Tengku Zafrul: Moratorium estimated at RM80bil, Malaysia only country implementing it for second time

The six-month moratorium offered through the National People’s Well-Being and Economic Recovery Package (Pemulih) is estimated to bring relief of up to RM80bil to individual and business borrowers, says Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz. He said the granting of the moratorium was only a temporary measure, part of the National Recovery Plan (NRP) initiative. It needs to be seen together with the efforts of everyone involved to speed up the transition to the next phase of the NRP, he said. “This is the second time Malaysia has introduced a comprehensive loan moratorium after its debut in March last year. No other country in the world has given a comprehensive moratorium like this, in fact, most of them only provide targeted and limited loan assistance,” he said. The Finance Minister stressed that banks would waive compounded interest and penalty charges for borrowers who take up the loan moratorium. Only accrued interest is charged as usual when the borrower starts making payments after six months. There are also no penalty charges and records in the Central Credit Reference Information System (CCRIS) for those who choose the moratorium facility. (The Star)

Paramount Corp and Star Media Group apply for digital banking licence

Paramount Corp Bhd and Star Media Group Bhd (SMG) have jointly applied for a digital banking licence from Bank Negara as part of a five-member consortium with the aim of accelerating their digital growth strategies. The other members of the consortium comprise RCE Capital Bhd, a financial services company and a subsidiary of Amcorp Group Bhd, Prosper Palm Oil Mill Sdn Bhd, and a technology partner. Paramount Group CEO Jeffrey Chew said he hoped that through transformative technologies, Paramount would be able to bring innovative financial experience to Malaysians. Paramount recently invested in Fundaztic, a peer-to-peer (P2P) lending platform, marking its first steps into the financial technology sector. As Paramount is also expanding on its core property business, proceeds from the divestment have been used for the purchase of new land banks and for overseas expansion, among others. (The Star)

Malaysia picks Ericsson for RM11bil project to deploy 5G nationwide

Digital Nasional Bhd has picked Ericsson (Malaysia) Sdn Bhd as its partner for the deployment of Malaysia’s nationwide fifth generation (5G) network and ecosystem. The appointment concludes a rigorous tender exercise initiated in March, government owned DNB said in a statement. Under the deal, Ericsson will design and build the national 5G network at a total cost of RM11bil. This includes tower rental and fibre leasing, of which more than 60% is expected to benefit Bumiputera and other Malaysian contractors over the next 10 years, DNB said. The scope of the project includes the design and development of the end-to-end 5G network comprising core, radio access and transport network (RAN), operation and business support systems (OSS/BSS) and managed services. 5G will be launched by end 2021 in Kuala Lumpur, Putrajaya, and Cyberjaya. By 2022, DNB will start deploying 5G to five major cities and districts in the states of Selangor, Pulau Pinang, Johor, Sabah and Sarawak; and thereafter, nationwide to cover 17 cities as well as rural areas from 2023 onwards. (The Star)

Trinity line up 3 launches with total GDV of RM1.12 billion within one year

Trinity Group Sdn Bhd will launch three property projects with a combined GDV of RM1.12 billion within a year, namely, Trinity Wellnessa and Trinity Enlivea in Ampang, and serviced apartments in Kinrara, Puchong, against the backdrop of the Covid-19 pandemic. Trinity group founder and managing director Datuk Neoh Soo Keat is confident that home buying will soar next year, which will fuel a residential housing boom in 2022 and 2023. Based on the group’s market research, he said, the pandemic has shifted consumer behaviour, and home buyers’ needs and preferences have changed, thus, the group has been keeping up with the changing needs of the buyers too. The group will launch Trinity Wellnessa in Beverly Heights, Ampang North, in July. According to Neoh, the group has 48.1 acres of undeveloped landbank with a GDV of RM5.04 billion and 32.5 acres of developed landbank with a GDV of RM1.67 billion. The group targets RM1 billion total sales for its financial year ending March 31, 2022. (The Sun Daily)