Ceiling price of affordable housing to be reviewed, says KPKT
The government will set up a panel of experts to review the ceiling price of the existing affordable housing, said Deputy Housing and Local Government Minister Datuk Seri Ismail Abd Muttalib. He said this was in view of the impact of the Covid-19 pandemic on the people’s economy. “Currently, the ceiling price of affordable housing is set at RM300,000 and it needs to be reviewed as many people are affected and have slipped from the M40 group to the B40 group due to the Covid-19 pandemic,” he said. He said the ministry would also look into the proposal to implement the rent-to-own (RTO) scheme for the People’s Housing Project to assist more people with low income to own a house. Meanwhile, Ismail said a total of 34 PR1MA projects have been completed to date involving 26,337 units, while 27 projects (20,760 units) were under construction and another 2,264 units in the planning stage. (The Edge)
VTL expected to be opened between Malaysia and Indonesia by early next year
The Vaccinated Travel Lane (VTL) is expected to be opened between Malaysia and Indonesia by early next year once several technical issues have been resolved. Ambassador of Indonesia to Malaysia Hermono said a team of Indonesian officials visited the country last week to conduct a technical inspection on the proposed VTL. He said there were three technical issues being looked into, which are the interoperability of Malaysia’s MySejahtera and Indonesia’s Peduli Lindungi app; mutual recognition of vaccines and the standardisation of reverse transcription polymerase chain reaction (RT-PCR) Covid-19 test. Malaysia and Indonesia had agreed to implement a travel corridor between the two countries through the Travel Corridor Arrangement or a VTL arrangement, as both countries are recovering from the Covid-19 pandemic. (The Star)
Race shouldn’t matter, only good business acumen should, groups tells Putrajaya
The government should provide business owners with the knowledge and know-how to run a business well if it plans on aiding future business owners. In a joint statement, Malaysia Shopping Malls Association and Malaysia REIT Managers Association said this method is better than giving special allocation for spots in shopping malls. “Forced location and mis-fitting retailers in the shopping mall and retail industry without in-depth consideration will not only disadvantage and burden the recipient but will harm the entire synergistic structure of the retail cluster. It will be more positive and progressive for the government to provide the requisite assistance to prepare the candidate for the retail business and equip him with the necessary knowledge and management skills before embarking into the venture,” they said. Earlier, Prime Minister Datuk Seri Ismail Sabri Yaakob said the government is proposing a quota for Bumiputera-owned businesses in strategic locations such as shopping malls as part of efforts to increase the community’s participation in the economy. (Malay Mail)
Free 5G networks to go live Dec 15 in parts of KL, Putrajaya, and Cyberjaya
Malaysians with certified 5G devices may be able to get a taste of next generation networks by Dec 15, as the network becomes commercially available then. Digital Nasional Bhd (DNB) announced it would be temporarily offering wholesale 5G services at no cost to all telcos integrated into its network, which has coverage in select areas in Kuala Lumpur, Putrajaya and Cyberjaya. DNB technology strategy head Dr Mohamed Sulaiman Suhaibuddeen said the offer would run until March 31, 2022. This meant that existing telco customers could get 5G access if their devices were compatible with the network, and if the telco chose to enable connectivity with the network. Live testing done at the media briefing held in Putrajaya showed 5G speeds on all networks could go up to 700-800Mbps for downloads and 100-130Mbps for uploads indoors, and hit even higher speeds outdoors, from 850Mbps to 1Gbps for downloads and 100-150Mbps for uploads. Mohamed Sulaiman added that telcos that entered into the Wholesale Agreement before March 31, 2022 would receive further free access to all additional 5G capacity as sites go live in the period. (The Star)
Selangor to reduce land premium deposit from 150pc to 100pc next year
The Selangor government will reduce land premium deposits by 50 percentage points to companies wishing to invest in the state starting next year as the 150 per cent deposit rate set previously was seen as a burden on investors, said Mentri Besar Datuk Seri Amirudin Shari. “In 2022, the state government will require a deposit (land premium) of only 100 per cent which means at par with the rates and valuations that have been given by the (Valuation and Property Services Department) and also the Selangor Land Rate so that the burden can be reduced on these investors. (This measure is implemented) so that investors can shorten the time for investments, material development and subsequently create employment opportunities and speed up investments,” he said. (Malay Mail)
IOI City Mall will be Malaysia’s biggest retail mall in 2022
IOI City Mall (ICM), located within the prestigious government enclave of Putrajaya and IOI Resort City, will become the biggest retail, entertainment-cum-shopping mall in Malaysia when its phase two is fully operational for business and tenanted by the second quarter of 2022. IOI Properties Group Bhd (IOIPG) CEO Datuk Voon Tin Yow said the construction on ICM phase two began in 2018 and has been progressing well despite the numerous lockdowns implemented due to the pandemic. “This new phase of ICM will add one million sq ft of tenanted space bringing the total net lettable area to 2.5 million sq ft. We have managed to secure around 70% of tenants for the new phase,” Voon said. Complementing the existing mall’s interior and exterior designs, ICM phase two’s central glass atrium filters natural light through the six-storied building. Besides the retail outlets, phase two also houses a 40,000 sq ft exhibition hall, a new cinema concept with an IMAX hall, a modern dining arcade, together with a new rooftop sports centre and gymnasium. (The Sun Daily)
