Domestic demand to support Malaysia’s 2020 growth

While external headwinds and uncertainties remain, Alliance DBS research sees Malaysia’s 2020 growth to be supported by domestic demand — private expenditure, and the manufacturing and services sectors. The research house said it expects a 4.5% GDP growth this year, down slightly from the 4.6% estimated for 2019. This is supported by the government’s proposed initiatives and projects announced in Budget 2020, coupled with Bank Negara Malaysia’s monetary easing policies that could provide a sustainable boost to the economy next year. (Malay Mail)

LBS Bina targets RM1.6b sales in 2020

LBS Bina Group Bhd sets its 2020 new property sales target at RM1.6 billion, similar to the sales target of RM1.63 billion it achieved in 2019, as the group is expecting the lower interest rate environment to continue to support its property sales. Its managing director Tan Sri Lim Hock San is confident about the new property sales target of this year, citing the market is anticipating another rate cut for the overnight policy rate (OPR) this year, which bodes well for LBS Bina’s housing sales. The group has exceeded its sales target of RM1.5 billion in 2019, reaching RM1.63 billion. (The Edge)

Govt aims to increase net energy metering output to 300MW

The government, via the Ministry of Energy, Science, Technology, Environment and Climate Change (Mestecc), aims to raise its net energy metering (NEM) programme output to 300 megawatts (MW) this year. Mestecc Minister Yeo Bee Yin said last year, the Sustainable Energy Development Authority Malaysia (Seda) approved 102MW under the NEM programme, adding that the 300MW target can be achieved through the new NEM policy implemented last year. Under the NEM programme, energy produced by the solar photovoltaic (PV) system is first utilised and any excess can be sold to Tenaga Nasional Bhd (TNB). The programme is an initiative by Mestecc to boost renewable energy (RE) use in Malaysia. (The Sun Daily)

Users in many areas face connectivity issue while Malaysia moves into 5G era

While Malaysia strives to move into the 5G era, the current 4G mobile network connectivity is still found wanting in many areas in the country, including the Klang Valley. Mobile users in areas such as Taman TAR in Ampang, Jalan Damai Jasa in Alam Damai, Cheras Hartamas and certain areas in Subang, Selangor, face connectivity issues. The lack of network signals can be attributed to the lack of base stations, or simply known as telco towers, in certain areas. However, another expert who declined to be named, specialising in base station construction and installation, said the government is already doing all it can to ensure connectivity. Telcos sometimes face problems when planning to build base stations due to protests by residents in the area. (The Sun Daily)

First phase payment of BSH 2020 starting Jan 20

The first phase payments of the Cost of Living Aid (BSH) 2020 for the household category registered in the 2019 BSH database, will be made beginning Jan 20. Finance Minister Lim Guan Eng said the payments will involve an allocation of RM1bil and will benefit almost 3.8 million recipients in the category. “The first phase payments of RM300 for each household will be credited directly to the recipients’ respective bank accounts using the information used for the BSH 2019,” he said. For recipients residing in rural areas and did not have a bank account, a cash payment will be made to them beginning Feb 1. (The Star Online)