Govt announces RM10bil Kita Prihatin package
The government will implement several initiatives and additional assistance under the RM10 billion Prihatin Supplementary Initiative Package (Kita Prihatin) in line with its efforts to boost economic recovery. Prime Minister Tan Sri Muhyiddin Yassin said the additional package includes the RM7 billion Bantuan Prihatin Nasional 2.0 (BPN 2.0), the RM2.4 billion Wage Subsidy Programme 2.0 and the RM600 million Prihatin Special Grant (GKP) worth RM600 million. He said the Kita Prihatin package targets four main groups, namely the bottom 40% income group (B40) who are married and single; M40 group with family and who are single; local workers in various fields and micro-traders in various fields. The Kita Prihatin package is an extension of previous economic stimulus packages, namely Prihatin, Prihatin SME Plus (for small and medium enterprises) and Penjana worth a total of RM295 billion, or about 20% of the nation’s gross domestic product (GDP), with an additional fiscal injection by the government totalling RM45 billion. (The Edge)
MIEA concerned over misrepresentation of the term ‘real estate agent’
The Malaysian Institute of Estate Agents (MIEA) is concerned about “misrepresentation” in press reports about real estate agents cheating clients, saying that by law, the term “real estate agent” refers to someone who possess certain qualifications. Its president, Lim Boon Ping, said claims in the media must first be verified to establish whether these agents were registered. He said to unilaterally say a real estate agent did something fraudulent was a serious matter and it must be established whether the person was truly a “registered agent” or an “illegal broker”. “Illegal brokers are out there for quick profits and they are neither trained nor recognised nor authorised to do any real estate transaction. Any misrepresentation of the term (real estate agents) may cause confusion and distrust, and bring disrepute to the image of the real estate profession,” he said. The public is advised to use the services of a registered estate agent (REA), probationary estate agent (PEA) or real estate negotiator (REN). MIEA has identified 13 ways the public can be scammed via www.myrealagents.com. (The Edge)
Bandar Malaysia to start with over 12 world-class towers worth RM10 billion in 2021
The developers for Bandar Malaysia said they will build more than 12 world-class towers with a gross floor area of over 12 million square feet in Phase 1 of South East Asia’s largest development project. Construction will commence by June next year, reflecting their confidence that the development will spur the Malaysian economy and create hundreds of thousands of jobs, says Iskandar Waterfront Holdings Sdn Bhd (IWH) executive chairman Tan Sri Lim Kang Hoo. Lim said the first phase will see an estimated GDV of around RM10 billion. Phase 1 will kick-off with infrastructure development involving the building of several roads and highways, as well as installing power and water supply, costing several hundred million ringgit. In the first phase, there will be several Grade A office towers, hotels, serviced apartments, and luxury residences, developed across 20.23ha over four years. (NST Online)
Land & General to launch two projects worth RM677mil in 2021
Land & General Bhd aims to launch two new development projects in Shah Alam and Bandar Sri Damansara with a combined GDV of RM677 million. Managing director Low Gay Teck said both the Sri Damansara project and terrace house development in U10, Shah Alam will kickstart in the third quarter of next year. The development would be on the Sri Damansara Club land which spans over 14 acres. The Sri Damansara project will have 732 units of serviced apartments, while phase 1A of the Shah Alam project will comprise 150 units of double-storey terrace and 162 units of medium-rise Rumah Selangorku apartments. On the uptake of its properties, he said that the home ownership campaign has helped spur demand for its upcoming and completed projects due to the discounts offered. (The Sun Daily)
Unesco recognition for Penang Hill expected in two years, says PHC
Penang Hill Corporation (PHC) expects Penang Hill and its surrounding areas to be accorded recognition as a Unesco Biosphere Reserve in the next two years. PHC general manager Datuk Cheok Lay Leng said the Cabinet has recently approved the paperwork for the application submitted by Ministry of Energy and Natural Resources. Cheok said the Penang Hill Biosphere Reserve will include the Penang Hill as a central park, Teluk Bahang National Park and Marine Park with an estimated up to 12,481 hectares of land. Penang Hill, a lush, undisturbed forest with virgin jungle reserves has been found to house 85 species of orchids, more than 100 species of birds, three iconic species of monkeys, as well as several plant, ant and spider species unique to the hill range. There are currently only two Unesco reserves in the country, Tasik Chini in Pahang and the Crocker Range, south of Mount Kinabalu in Sabah. (Malay Mail)
