10 December 2021: Construction industry gradually going green; KL-SG high speed rail still under study

Building, construction industry will move towards green buildings gradually

Stakeholders within the Malaysian buildings and construction industry will gradually embrace green buildings given the increasing focus on sustainability from real estate investors and more stringent building energy codes from policymakers to address climate change. CGS-CIMB Research expects the domestic buildings and construction sector to likely evolve to achieve net-zero carbon buildings by implementing mandatory building energy codes and targets for more buildings to be green-certified. Efforts will also include the adoption of industrialised building systems (IBS) and automation and the increased usage of eco-friendly green building materials. The buildings and construction sector also needs to be almost net-zero carbon by 2050 to meet the Paris agreement goals, according to 2021 Global Status Report for Buildings and Construction. “We note green buildings are gaining traction across the globe as evidence shows that this is one of the most effective measures for tackling climate change,” the firm said. (NST Online)

KL-SG high speed rail still under study as Singapore insists on keeping AssetsCo in new deal

Putrajaya is still conducting studies on which high speed rail (HSR) project is better for Malaysia, whether the line should end in Johor Baru or in Singapore, Datuk Seri Mustapa Mohamed told the Dewan Rakyat. The minister in the Prime Minister’s Department in charge of economic affairs said one of the obstacles in implementing the project was Singapore’s insistence on keeping the jointly-tendered asset company AssetsCo in all agreements. “The only obstacle we have in any agreement is in the method of implementation. Singapore insists on having AssetCo in the agreement. However we in Malaysia feel we need alternatives,” Mustapa said. In January, Singapore’s Transport Minister Ong Ye Kung said the original HSR agreement between Singapore and Malaysia included the setting up of an assets company to act as a systems supplier and network operator of the HSR service, which would, in turn, ensure that the interests of both countries were protected. (Malay Mail)

IRB has collected over RM100b in revenue since 2011, says CEO

The Inland Revenue Board (IRB) has collected more than RM100 billion in revenue from 2011 to date, said its chief executive officer Datuk Mohd Nizom Sairi. He said the collection was a very outstanding achievement compared to previous years. “What is more gratifying is that the tax collection has been accompanied by a low cost of collection efficiency each year which does not exceed RM2 for every RM100 of direct tax collected,” he said. Mohd Nizom said the IRB would always formulate strategies to facilitate voluntary tax compliance based on innovation by leveraging existing resources and improvement processes. The strategies that will be implemented include the facilitation of the affairs of taxpayers by providing various services that can be accessed online and digitally under the Go Digital for Future Services initiative. (Malay Mail)

Ministry extends cooking oil price control mechanism programme until March 2022

The government has agreed to extend the Cooking Oil Price Control Mechanism programme until March next year at a cost of RM150 million, said the Domestic Trade and Consumer Affairs Ministry (KPDNHEP). On July 27, the government set the maximum retail price for pure palm cooking oil in bottled packaging effective August 1, with a guarantee that consumers will get cooking oil below RM30 for a five kilogramme (kg) bottle. The maximum price of a 5kg pure cooking palm oil is RM29.70; 1kg bottle (RM6.70); 2kg bottle (RM12.70); and 3kg bottle (RM18.70). Meanwhile, KPDNHEP said it was also agreed at the meeting that the Malaysian Family Sales Programme (PJKM) will be implemented in the 222 parliamentary constituencies until March next year at a cost of RM100 million. (Malay Mail)

Malaysia the only country with long-term anti-corruption plan, says Transparency International

Malaysia is the only country in the world that has a five-year plan for fighting corruption, says Transparency International Malaysia (TI-M). Its president Dr Muhammad Mohan said throughout his study on the National Anti-Corruption Plan (NACP), which was launched in 2019, he found that no other country has such a plan within the same period (2019-2023). Muhammad said to ensure that all initiatives under the plan would be implemented at all ministries and government agencies, the plan should be placed under the responsibility of the Chief Secretary to the Government. He said being the top person in the country’s public service system, the chief secretary could ensure that secretaries-general at all the ministries would implement the initiatives under NACP. In addition, Muhammad said society should change its perception towards corruption which was previously perceived as a less serious crime compared to murder and robbery. (The Star)

Pangkor Airport expected to reopen on Jan 22

The Pangkor Airport at Pangkor Island here is expected to reopen and resume operations on January 22 next year after several issues related to flight approval are solved. Perak Housing, Local Government and Tourism Committee chairman Datuk Nolee Ashilin Mohamed Radzi said the reopening of the airport, which was initially scheduled on December 1, is also expected to see direct domestic flight service to be offered from the Sultan Abdul Aziz Shah Airport in Subang. (Malay Mail)

Asia markets up but fears over Chinese real estate linger

Asian stocks were broadly up today after a strong lead from Wall Street, but fears lingered over China’s debt-hobbled property sector. The main indexes in New York had rallied as worries about the impact of the Omicron coronavirus variant faded. China’s real estate sector — a key growth driver in the world’s second-largest economy — has cooled in recent months after Beijing tightened home-buying rules and launched a regulatory assault on speculation. The moves have created headaches for several major developers, notably China Evergrande, the country’s second-largest by volume, which is billions of dollars in debt. World stocks and oil had tanked on November 26 when news of the new variant first flashed across traders’ screens. After a rollercoaster ride, investors are now optimistic over the outlook in the run-up to Christmas. (Malay Mail)