Property prices will rise next year as construction materials become more expensive
Homebuyers and investors should buy now because property prices are expected to rise next year due to higher building material costs in most building categories, according to Knight Frank Malaysia deputy managing director Keith Ooi. Rising material costs will eventually have a trickle-down effect on selling prices. “The developer will pass on the cost to the respective consumers or buyers in some way,” he said. Ooi also said that any changes in value or demand would cause the primary and secondary markets to react. The rise in the price of building materials, such as cement, steel, and iron, was caused by the global increase in the price of coal and petroleum products. Building materials became more expensive after construction resumed, according to DoSM, due to the government’s implementation of the Movement Control Order (MCO) in June 2021 and the four phases of the National Recovery Plan (NRP). Ooi believes that, despite higher building material prices and new variants, 2022 will outperform 2021 due to pent-up demand from potential homebuyers and investors. (NST Online)
Malaysia’s first ICLQ being built in Pasir Gudang
The Integrated Centralised Labour Quarters (ICLQ) which is being developed at the industrial area here will become an example and module used for the development of foreign worker housing in Malaysia. Human Resources Minister Datuk Seri M. Saravanan said the ICLQ situated on a 6.5ha plot of land in Jalan Keluli 11 is the first foreign workers quarters in the country built based on Global Workers Accommodation Safety Standards. The first phase of the ICLQ’s construction will be completed by October 2022, and it will consist of four blocks of hostels involving 222 units accommodating 8,000 workers. The second phase of construction, which will begin after October 2022, will involve housing that will accommodate another 8,000 workers. So far, the ministry has approved 628 Centralised Labour Quarters (CLQs) nationwide to accommodate 90,256 foreign workers, and these are currently still under construction. (NST Online)
Travellers to Malaysia must now take PCR test 48 hours before boarding flights
Further preemptive Covid-19 measures will be implemented for travellers from abroad starting Wednesday in light of the discovery of the Omicron variant, said Health Minister Khairy Jamaluddin. He said with 43 countries reporting cases of the new variant as of Dec 6, a temporary travel restriction had been imposed on eight countries, namely Botswana, Eswatini, Lesotho, Malawi, Mozambique, Namibia, South Africa and Zimbabwe. All travellers entering Malaysia, meanwhile, will be required to take a pre-departure Covid-19 PCR test 48 hours before departing, shortened from 72 hours currently. Those travelling under the land and air vaccinated travel lane (VTL), Langkawi International Tourist Bubble (LITB) and the One Stop Centre (OSC) for short-term business travellers will be required to be fully vaccinated and take the Covid-19 Antigen Rapid Testing (RTK-Ag) self-test on the second, fourth and sixth day upon arrival as well as taking a professionally administered RTK-Ag test on the third and fifth day. (The Edge)
Minister: Malaysia will not revive local govt elections
Malaysia will not revive local government elections, as it would cost at least RM302 million nationwide and such elections for local councillors may not necessarily guarantee the provision of good service to the public, said Housing and Local Government (KPKT) Minister Datuk Seri Reezal Merican Naina Merican. “The government of the day does not plan to implement local government elections. This is because the existing system of appointing PBT local councillors had worked well. The cost of holding local government elections is estimated to be RM2 million for each PBT and RM302 million for all 151 PBT in the whole country,” he said, adding that this was only an estimate of the minimum cost and does not include “hidden costs” borne by other related agencies, such as the police and People’s Volunteer Corps (Rela) for the control of the situation at the voting area. Under the current system where PBT local councillors are appointed instead of elected by the public, the minister noted that local councillors who do not perform well would be dropped or not re-appointed after their term ends. The ministry said it was also developing a guideline for the appointment of local councillors. (Malay Mail)
Sirim to develop Malaysia Railways Industrial Standard by May 2022
Sirim Bhd’s wholly-owned subsidiary, Sirim STS Sdn Bhd (SIRIM STS), has been appointed as coordinator for the development of Malaysia Railways Industrial Standard (MRIS) to advance and promote the competitiveness of the country’s rail industry. SIRIM president and group chief executive Datuk Ahmad Sabirin Arshad said SIRIM STS is tasked to develop a series of industry standards on trackwork components, namely concrete sleepers, ballast, rail pads, base plates, clips, fasteners, and welding. “The development of these industrial standards is scheduled to be completed by May 31, 2022, and is expected to bring significant benefits to Malaysia’s rail industry,” he said. The development will involve collaboration and participation from industrial partners. (The Edge)
Court of Appeal upholds Najib’s SRC conviction
The Court of Appeal has upheld the conviction and sentence of Datuk Seri Najib Razak in the SRC International Sdn Bhd case, where the former prime minister was found guilty of misappropriating RM42mil from the company’s coffers. A three-man panel chaired by Justice Abdul Karim Abdul Jalil said that the appellate court had found no errors in the decision by the learned trial judge, Justice Mohd Nazlan Mohd Ghazali. The panel said it found no appealable errors that would warrant appellate intervention. In the decision, Justice Abdul Karim touched on several pertinent matters that were raised during the appeal, including the definition of a “shadow director” in SRC International. The court is now hearing submissions on a stay application by Najib following the Court of Appeal’s dismissal of his appeals. (The Star)
