Putrajaya investigating reports of spike in bread and vegetable prices
The price hike in locally manufactured bread products is being investigated, according to the Domestic Trade and Consumer Affairs Ministry (KPDNHEP). A picture went viral recently allegedly showing the revised prices for Gardenia’s products, including the Classic Original, which will go up from RM2.38 to RM2.80, and popular favourites such as Twiggies (from RM1.49 to RM1.80). Rosol also addressed the issue of a spike in vegetable prices. He told the Dewan Rakyat there was no truth to the claims that the price of vegetables had gone up 200% as alleged by many on social media and the Penang Consumers Association (CAP). Subsequently, Penang KPDNHEP came out to say that the price increase was due to inclement weather which affected farms in Cameron Highlands. (Malay Mail)
Proposed Kampung Baru Land Bill to provide lifetime protection to landowners
The proposed draft of the Kampung Baru Land Bill, which is expected to be tabled in Parliament early next year, is hoped to provide lifetime protection to Kampung Baru landowners, said Federal Territories Minister, Datuk Seri Dr Shahidan Kassim. He said that in the past there was no law that could specifically protect Malay reserve land, to prevent any party who wanted to change the status of the land. “The proposed Kampung Baru Land Bill is hoped to safeguard the interests of Kampung Baru landowners indefinitely, and the planned development will be implemented in the form of leases, mutually agreed between landowners and developers,” he said at the launch of the Kampung Baru 2040 Development Master Plan (PIPKB 2040) and the Kampung Baru Redevelopment Implementation Guidelines (PPPSKB). The PIPKB 2040 master plan was drafted as guidelines to transform Kampung Baru in terms of physical, economic and social development in an integrated manner, thus driving its overall direction for the next 20 years. Meanwhile, PPPSKB was formulated to assist and encourage landowners to develop their lands on their own, or to make joint ventures with developers, GLCs and the private sector. (Malay Mail)
KL ranked behind Asia-Pacific peers in real estate survey
Kuala Lumpur has not made much of an impact in the Emerging Trends in Real Estate Asia Pacific 2022 survey which covers 22 cities in the region, ranking generally poor (3.79) in terms of city investment prospects for 2022, which weakened from 20th in 2021; and also coming in generally poor (3.92) in terms of city development prospects. The bottom of the table this year features virtually all of the region’s developing markets, which continue to suffer from high rates of Covid-19 infection. Mirroring the best performers from last year, 2022’s top markets for investment prospects in the region were characterised by abundant core capital and a flight-to-safety approach. Tokyo, Singapore, and Sydney continue to rank as the top three markets due to the similar overarching characteristics of economic stability, market liquidity, as well as reliable cash flows. Upbeat sentiment and the growing glut of underployed capital are expected to provide a lifeline to the strong revival of Asia Pacific’s real estate markets next year. Real estate transactions in Asia Pacific surpassed US$40 billion (RM168 billion) in the third quarter of 2021, up 12% year-on-year and roughly the same as in the third quarter of 2019. (The Sun Daily)
Malaysia working with Asia-Europe Meeting partners to establish VTL
Malaysia is currently working with a few Asia-Europe Meeting (ASEM) partners like Singapore and Indonesia to establish the Vaccinated Travel Lane (VTL) on the path of socio-economic recovery. Prime Minister Datuk Seri Ismail Sabri Yaakob said he hoped the resumption of people movement between countries would help boost economies, resuscitate livelihoods and refresh people-to-people contact. He said despite the negative impacts, the Covid-19 pandemic has presented the world with opportunities. “We need to undertake concrete initiatives to steer ASEM Connectivity closer to its objectives and principles,” he added. ASEM, an intergovernmental process established on March 1, 1996 to foster dialogue and cooperation between Asia and Europe, comprises 21 Asian countries, 28 European Union countries, two European countries, the Asean Secretariat and the European Commission. Malaysia joined ASEM in 1996. (Malay Mail)
AME to list RM557 mil of industrial assets under REIT
AME Elite Consortium Bhd is planning to list RM557 million worth of industrial and industrial-related real estate assets via its upcoming real estate investment trust, AME REIT. The group said the initial investment portfolio will comprise a total of 34 industrial buildings and workers’ dormitories located in or near its managed industrial parks, namely i-Park @ Senai Airport City, i-Park @ Indahpura, and i-Park @ SiLC. These assets are currently held by its subsidiaries. AME is proposing to issue 520 million undivided interest (units) in AME REIT and RM37 million cash, to be funded via Islamic financing, as consideration for the transfer of assets. Of the total issuance, 254.8 million units will be offered via the initial public offering (IPO). Upon completion of the offering, which is expected in the second quarter of 2022, AME will be the controlling unitholder of AME REIT, holding at least 51% of the total issued units. (The Edge)
Malaysia to study impacts of Indonesia’s capital city move
Malaysia has established a joint task force to plan and monitor development at Sabah and Sarawak borders in line with Indonesia’s plan to relocate its capital city to Kalimantan on the island of Borneo. Minister in the Prime Minister’s Department (Sabah and Sarawak Affairs) Datuk Seri Dr Maximus Ongkili said besides infrastructure development, it would also review aspects such as tourism, cultural exchange, education and health tourism. “We will also look at issues related to border security and the setting up of Customs, Immigration, Quarantine and Security complex at all entry points between the two countries,” he said. Ongkili said the establishment of the task force came about after Prime Minister Datuk Seri Ismail Sabri Yaakob and lawmakers raised their concerns on Indonesia’s proposed plan to move its capital city from Jakarta to Kalimantan. “Both Sabah and Sarawak chief ministers will be involved in drafting long-term border development strategies,” he added. (The Sun Daily)
Khairy: Covid-19 SOPs for Sarawak polls to be finalised by Nov 30
The standard operating procedure (SOP) for prevention of Covid-19 for the 12th Sarawak state election will be finalised by the end of the month, said Health Minister Khairy Jamaluddin. Khairy said discussions on the SOP were held with the Sarawak State Secretary this afternoon and Deputy Health Minister Datuk Aaron Ago Dagang was entrusted with coordinating the matter with the Sarawak government. The EC has set December 18 for polling and December 6 for nomination, with early voting to be held on December 14. (Malay Mail)
