FT Minister announces Friday public holiday for Federal Territories
Dec 3 has been declared a public holiday for all Federal Territories after Kuala Lumpur (KL) City FC won the Malaysia Cup yesterday, Federal Territories Minister Datuk Seri Dr Shahidan Kassim said. “[The] victory was KL City FC’s best achievement after 32 years of waiting to win the Malaysia Cup since 1989,” he said. In the Malaysia Cup final in conjunction with the 100th anniversary of the prestigious competition, Johor Darul Ta’zim (JDT) lost 0-2 to KL City FC, and failed to defend the title they won in 2019. On rewards for KL City FC players, Shahidan said it would be announced shortly. (The Sun Daily)
Deloitte: Tax-related incentives a good move
Deloitte Malaysia views the tax-related incentives announced in Budget 2022 as a way forward towards improving compliance. Deloitte Malaysia business tax and government, grants and incentives executive director Tham Lih Jiun said the abolition of the real property gains tax (RPGT) on properties sold after five years was a welcomed move. Tham noted that there is also a proposal to amend the tax rates imposed on companies when they dispose of an asset. Separately, Deloitte Malaysia transfer pricing director Justine Fan cautioned that failure to provide transfer pricing documentation, unlike previously, can result in severe penalties. Transfer pricing refers to inter-company pricing arrangements for the transfer of goods or services that are exchanged between related entities within a group. (The Star)
Landlord-tenant rental expectation gap in Klang Valley narrows
The rental expectation gap between landlord and tenant narrowed in the first half of 2021 as the landlord’s median asking price decreased by 2.25% compared with that in the same period last year. The rental expectation gap remained in a single-digit percentage at 6.6% in 1H2021. Despite the narrower rental expectation gap, the overall rental transaction median price increased 1.82% compared with the same period last year, mainly contributed by an increase in transactions in popular areas such as Petaling Jaya, Brickfields, and more. The report revealed that tenants’ bargaining power remained strong in H1’2021 as more properties were expected to enter the market causing a flux in an already oversupplied market. Petaling Jaya topped the list of the most demanded area for the third consecutive year, followed by Brickfields, Cyberjaya, Putrajaya, and Setapak. (The Sun Daily)
Khairy: Malaysia to bar travellers from eight countries at high risk of Omicron spread
Malaysia will temporarily deny entry to travellers from countries with confirmed cases of the Omicron variant of Covid-19, said Health Minister Khairy Jamaluddin. The minister said 18 countries have so far reported cases of the new variant of concern that were imported. No cases of the variant have been reported in Malaysia yet. The Health Ministry has consequently decided to impose temporary travel restrictions on non-citizens entering Malaysia from countries considered to be at high-risk of Omicron spread or those who have been to the same countries 14 days prior. The affected countries were South Africa, Botswana, Eswathini, Lesotho, Mozambique, Namibia, Zimbabwe, and Malawi. He said that while Malaysian citizens, permanent residents and long-term passholders were not barred, they would be required to undergo a 14-day quarantine on arrival. (Malay Mail)
Malaysia-Singapore VTL travellers must undergo Covid-19 self-test upon arrival
Travellers using the vaccinated travel lane (VTL) between Singapore and Malaysia, by land or air, must undergo the Covid-19 self-test after they arrive in the country. Health Minister Khairy Jamaluddin said the test must be done on the third and seventh day after their arrival. “They must also report their results in the MySejahtera application,” he said. Meanwhile, Khairy said the government will postpone its plans to establish VTL with countries that reported cases of Omicron variant or countries with high risk of Omicron transmission. (NST Online)
All systems go for ECRL in Selangor
Construction of the East Coast Rail Link (ECRL) from Kota Baru to Port Klang will now run at full steam as Selangor has agreed for the rail line to pass through the northern part of the state, as originally planned. Known as Section C, the 170km stretch will run from Temerloh to Bentong, Pahang and under parts of the Main Range before emerging near Gombak, where the line will then pass Serendah and Kapar on its way to Port Klang. This alignment would comprise new ECRL stations at Temerloh, Bentong, ITT Gomba, Serendah Baru, Puncak Alam (provisional), Kapar (provisional), and Jalan Kastam, before branching into both North Port and West Ports on dual gauge tracks that allow both ECRL and KTMB rolling stocks to share the same right-of-way. Estimated at RM50bil, the 665km ECRL reached a 25% progress rate as at October 2021, after construction began in August 2017, and is expected to be completed by December 2026, with some portions ahead of schedule, while the rest largely remain on schedule. (The Star)
Berjaya Land forms JV with Selangor MBI unit for Klang Valley river projects
Berjaya Land Bhd (BLand) has formed a joint venture with Menteri Besar Inc Selangor’s subsidiary Landasan Lumayan Sdn Bhd (LLSB) to undertake river cleaning, river rehabilitation and river developments in the Klang Valley. Dubbed Landasan Lumayan Berjaya Sdn Bhd (LLB), BLand holds a 55% stake in the JV company, while the remaining 45% is held by LLSB. Among the river initiatives which LLB will undertake is the Selangor Maritime Gateway, a high economic impact project which will see approximately 600 acres of land along about 56 km of the Klang River to be developed over the next eight years. The project is expected to have an estimated GDV of RM10 billion. Meanwhile, the river cleaning initiative will encompass the removal of all floating debris from the Klang River, as well as maintenance of the existing log booms located in Sungai Pinang, Sungai Kayu Ara, Sungai Kandis, Sungai Delek, Kinrara, Taman Sentosa and Aman Hilir. (The Edge)
