EXSIM Group plans to set foot in Penang with the launch of 22 Macalisterz, a serviced apartment project located on 0.45 hectares along Jalan Macalister this year.

This will be the first property project for the developer outside of Klang Valley.

Established in 2008, EXSIM has launched 28 property projects with a total gross development value of RM12 billion, with another RM18 billion in the pipeline. The majority of the projects are located in Bukit Jalil and Petaling Jaya.

EXSIM head of corporate communications Michelle Siew told NST Property that EXSIM is looking to make its mark in major states across the country in a drive to expand the group's portfolio.

According to her, besides the Penang market, EXSIM is looking at development projects in Perak, Sabah, Johor, and Kelantan.

Siew said EXSIM plans to utilise part of the funds from the group's RM2 billion sukuk musharakah programme for the next level of growth into other states.

"Penang is our first target and we plan to strengthen our foothold there with more development projects in the future. We are looking for land and development partners for our expansion," she said.
22 Macalisterz comprises 418 units of serviced apartments, selling from RM491,900 to RM744,000.
Siew said the project is targeted to launch in the current quarter.
On the outlook, she believes that the market will recover in the next two years.

​"Of course when we reach herd immunity, the market will be bouncing back but not as pre-pandemic level. Hopefully, in the next two years, the market will be back to normal, which is why we are planning our expansion outside of Klang Valley now. We want to be ready when the market recovers with new launches.

"We believe more and more people will be looking to buy properties with different concepts and within an affordable range in Penang, Perak, Sabah, Johor, and Kelantan," she said.

Meanwhile, EXSIM managing director Lim Aik Hoe said the second tranche of its RM2 billion sukuk programme will provide liquidity for future development projects and help it achieve the next level of growth.

Lim said the latest issuance of Islamic Medium Term Notes (IMTN) by UOB Malaysia will help EXSIM to sustain the capital expenditure and working capital requirements of the group's new and existing real estate development projects.

"This transaction, which is part of an innovative sukuk programme, will also enable us to deliver more value to our stakeholders," he said in a statement.

The RM2 billion sukuk programme monetises future earnings of two of EXSIM's sustainable residential developments in the Klang Valley.

This is not the first time that UOB Malaysia is supporting EXSIM with the sukuk programme.

Last year, UOB Malaysia supported EXSIM's sukuk programmes totaling RM3 billion, secured against the future earnings of Scarletz Suites in Kuala Lumpur, the group's commercial real estate development.

UOB Malaysia has priced and placed out the issuance of four-year RM323 million IMTN by EXSIM at a fixed profit rate of 4.5 per cent per annum.

The IMTN issuance will be secured against and backed by the executed sales and purchase agreements of EXSIM's two residential development projects namely D'Quince Residences and D'Vervain Residences.

D'Quince Residences is a leasehold apartment project located in Central Park Damansara, Damansara Perdana. There are 1,310 units available in this project with built-up from 550 sq ft to 1,100 sq ft.

The project was launched about a year ago and is currently selling from RM270,000 to RM694,000, or at about RM490 per square ft (psf).

According to Siew, the sales rate for D'Quince Residences is close to 98 per cent. The project is expected to be completed in the second quarter of 2024 (2Q2024).

D'Vervain Residences is another leasehold condominium located in Central Park Damansara and it has a total of 1,066 units with built-up from 550 sq ft to 1,100 sq ft.

The units are selling from RM270,000 to RM678,900 with a median price of RM490 psf.

Siew said D'Vervain Residences has achieved a 99 per cent sales rate and the project is expected to be completed in 2Q 2024.


Above Refer from www.nst.com.my

Followed with our FB live session, we advice for those who really in need for survival to take Moratorium. Those who can afford, best dont take the moratorium as it will prolong the tenure longer and pay more interest in the end.

During these EMCO (MCO 3.0), If you not sure on how to apply for a moratorium for 6 months?
Discover 3 ️channels to get it easy and quick:
1. Web Forms
2. Email
3. Phone call
Applications is open on tomorrow (July 7th).

For financial and guidance advice, contact Agensi Kaunseling dan Pengurusan Kredit (AKPK) via https://services.akpk.org.my

Visit bnm.gov.my/RA for more information.

Having issues with application or contact bank? Let us know via bnm.my/RAsurvey.


Here is the list of all other moratorium link:

​1. Moratorium Maybank
https://www.maybank2u.com.my/maybank2u/malaysia/en/personal/announcements/2020/March/announcement_financial_relief_scheme.page

2. Moratorium Bank Rakyat
https://cv19-support.bankrakyat.com.my/

3. Moratorium Bank Islam
https://vao.bankislam.com.my/ppb/

4. Moratorium CIMB
https://www.cimb.com.my/covid19support

5. Moratorium BSN
https://www.bsn.com.my/page/TRA

6. Moratorium Public Bank
https://www.pbebank.com/Others/COVID-19.aspx

7. Moratorium Ambank
https://www.ambank.com.my/eng/targeted-repayment-assistance

8. Moratorium RHB
https://www.rhbgroup.com/malaysia/campaigns/PostMoratoriumEForm?_ga=2.202856849.1410897864.1622574747-1382388922.1622574747

9. Moratorium Affin Bank
https://www.affinbank.com.my/Others/Financial-Assistance-Instalment-Relief-(FAIR)-Prog.aspx?lang=ms-MY

10. Moratorium MBSB
https://www.mbsbbank.com/bm/notices/moratorium

11. Moratorium Bank Muamalat
https://map.muamalat.com.my/

12. Moratorium Kuwait Bank
https://www.kfh.com.my/malaysia/personal/announcements/KFH-RAP.html

13. Moratorium CitiBank
https://www.citibank.com.my/english/forms/moratorium-restructure-V2/index.html

14. Moratorium Alliance Bank
https://www.allianceonline.com.my/personal/loan_moratorium/loan_moratorium.do

15. Moratorium AgroBank
https://www.agrobank.com.my/my/bbb/

16. Moratorium Hong Leong Bank
https://www.hlb.com.my/en/personal-banking/news-updates/hlb-payment-relief-assistance-plan.html

17. Moratorium SME Bank
https://smebank.com.my/en/financing-payment-assistance

18. Moratorium Standard Chartered Bank
https://www.sc.com/my/important-information/covid-19/

19. Moratorium Al Rajhi Bank
https://www.alrajhibank.com.my/page/financial-relief/financial-assistance

20. Moratorium UOB Bank
https://www.uob.com.my/default/covid-updates/covid-relief-assistance.page

21. Moratorium OCBC Bank
https://www.ocbc.com.my/personal-banking/Loans/moratorium/index.html

22. Moratorium PTPTN
https://www.ptptn.gov.my/penangguhanpkp3.0/

If the link is not workig, just visit their official home page to look for more update link

Hotel Istana Kuala Lumpur will cease operations on September 1, according to a circular from its management. The June 30 circular, was signed by general manager Nooradzzudin Omar who explained that a voluntary separation scheme would be offered to affected workers.

Hotel Istana Kuala Lumpur will be ceasing operations from Sept 1, says general manager Noorazuddin Omar. "We have arrived at this decision after considering the present circumstances and all available options. We are left with little choice other than to proceed with this closure," he said.
In a statement on Thursday (July 1), Noorazuddin said that the Covid-19 pandemic has had a significant impact on the hotel’s business, rates, returns and occupancy.

“Many of you will be aware that our competitive advantage has declined over a period of time in the face of stringent competition from our neighbouring hotels and service apartments. The situation has now been aggravated by the Covid-19 pandemic which has and continues to impact our industry and its ability to achieve normality.
“This has impacted our business, rates, returns and occupancy despite our best efforts. Even as a quarantine hotel, we are incurring monthly operational losses. As such after a proper evaluation of the hotel and its viability, we have decided to cease operations.’’
The hotel and tourism industry has been among the hardest hit by the government’s measures to try and contain the Covid-19 pandemic.
Last month, the Malaysian Association of Hotels issued a desperate plea for assistance by saying many of its members would be forced to close as a result of the 80 per cent decline in revenue since March last year.
Malaysia is currently in Phase One of the National Recovery Plan in which only approved essential services were allowed.
Hotel Istana is a five-star accommodation located in Kuala Lumpur’s golden triangle and has been in operation since 1992 when it was launched by the prime minister at the time, Tun Dr Mahathir Mohamad.
The approximately 500-room hotel is currently owned by the Tradewind Corporations.

Below is Some Image Referred from Hotel Istana Websites

An aid package worth RM150bil has been unveiled to help the people, businesses, as well as those vaccinated under Phase One of the National Recovery Plan to curb the spread of Covid-19.

The government will also provide a total amount of RM10bil direct fiscal injection.

In a special address, Prime Minister Tan Sri Muhyiddin Yassin on Monday (June 28) listed a number of initiatives under the package known as the "Pakej Perlindungan Rakyat dan Pemulihan Ekonomi (Pemulih)”.

Here are the highlights:
- The government will add up to RM500 for the Bantuan Prihatin Rakyat (BPR) for the month of July with payments to be made from June 29.
The third phase of the BPR between RM100 and RM1, 400 will be paid in September.
Payments for those who succeeded in the BPR appeals will also be paid out in September. Altogether, a total of RM4.9bil will be paid out for the BPR initiative.

- Government to expand job seekers' allowance to Social Security Organisation (Socso) non-contributors especially to new graduates and informal sectors.
They can register at MYFutureJobs and will receive an allowance of at least RM300.

- Bantuan Khas Covid-19 (BKC) initiative for several categories. They are:
1) Households of hardcore poor will receive RM500 in August, RM500 in November, and RM300 in December. Singles from this category will receive RM200 in August and RM300 in November.
2) B40 households will receive RM500 in August and RM300 in December. Singles from this category will receive RM200 in August.
3) M40 households will receive RM250 while singles in this category will receive RM100 in August.
The BKC is expected to benefit more than 11 million households and elderly as well as singles with an allocation of RM4.6bil.

- The government will allocate a total amount of RM10mil to implement the food basket initiative especially for the Orang Asli

- Government to allocate another RM1bil to ensure that the 1kg pollybag of cooking oil remains at RM2.50.

- RM15mil will be allocated to non-governmental organisations to help out in social issues such as mental health, homelessness, and other issues.

- To address the issue of cost of living, the government will maintain the retail price for RON95 petrol, diesel, and LPG, which is expected to involve a subsidy worth RM6bil this year.

- The government will also implement a price control programme based on the threshold value of crude palm oil to control the price of one kilogramme to five kilogramme of cooking oil bottles.

- A discount on electricity bills between 5% and 40% up to a maximum usage of 900kilowatt hours a month will be given. This includes a 40% discount for usage that is below 200kilowatt hours, and 15% discount for usage that is between 201kilowatt hours and 300kilowatt hours. All in, the rakyat is expected to save up to RM346mil in electricity bills for three months from July.

- Economic sectors that have been badly hit, particularly hotel operators, theme park operators, convention centres, shopping malls, and tour operators will get a three month extension of electricity bills of 10% from October to December.

- Telecommunications companies have agreed to extend the 1GB of daily free data until the end of the year. This initiative is estimated to be worth RM500mil and will benefit 44 million registered customers all over the country.

- Additional RM500 to eligible recipients under the Prihatin Special Grant (GKP) 3.0 initiative, with payment expected to be made by mid-July this year.
In total, the government had allocated a total of RM5.1bil via the GKP initiative.

- Understanding the struggle of the SMEs, the government announced an additional payment of RM500 under GKP 4.0 to eligible recipients which will be paid in September and another RM500 in November this year.

- The government will allocate RM18mil for local banks to provide about 30 units of mobile banks in Peninsular Malaysia, Sabah and Sarawak, which are expected to cover 250 rural localities.
Through this initiative, various banking services including opening of accounts; savings, withdrawal and transfer of money; bill payments as well as digital banking can be accessed.

- Government will continue Wage Subsidy Scheme for the fourth time with an allocation of RM3.8bil, expected to benefit more than 2.5 million workers. Through this scheme, the government will support up to 500 workers per employer with assistance of RM600 per worker for four months. This will be two months for every sector in the second phase of the National Recovery Plan, and another two months for the sectors categorised as negative in the third phase of the NRP.
There are no salary limit conditions, and this means that employers can apply for the scheme even if their employers earn more than RM, 4000 a month.

- Government will automatically exempt payments for the HRD levy for two months to employers who are not able to operate during the lockdown.

- Employers from new sectors as a result of the expansion of the Human Resources Development Fund Act 2001 will be given a levy extension under Dec 2021. This initiative is estimated to be worth RM425mil.

​- Government agrees to extend the PenjanaKerjaya programme that is due to end in June with several improvements. This includes reducing the salary eligibility limit from RM1, 500 to RM1, 200 ringgit for the “Malaysianisation” programme to give more incentives to employers to replace foreign workers with local workers. The employment contract period will also be reduced from 12 months to six months for employees aged 50 and above, the disabled and ex-prisoners.

The government is expected to announce appropriate assistance, including on moratorium and the i-Sinar facility to alleviate the burden of the people affected by Covid-19 soon.

Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz said the matter was discussed with Prime Minister Tan Sri Muhyiddin Yassin and the relevant agencies.

"The government is listening to its people, as such appropriate assistance will be announced soon," he said in a Facebook post today.

Yesterday, Tengku Zafrul in a Facebook post said the government will consider all proposals and solutions submitted by all parties to ease the burden of the people.

"This is for Phase 1 and the next phases under the National Recovery Plan."

Tengku Zafrul said among the requests often received by the ministry was on the extension of the i-Sinar and i-Lestari facilities.

​Previously, various parties had asked the government to implement an unconditional moratorium, as well as to extend the i-Sinar facility to help those affected by the implementation of the Movement Control Order to curb the spread of Covid-19.

The nationwide full lockdown will be extended for another two weeks starting June 15.

Senior Minister Datuk Seri Ismail Sabri Yaakob said the decision was made after considering the high number of daily cases reported.

He said the National Security Council’s special meeting chaired by the Prime Minister yesterday heard a report and proposal presented by the Health Ministry.

“It has been decided that the lockdown will be extended for two weeks, taking effect from June 15 to 28, ” he said in a statement.

The lists of positive and negative activities as well as standard operating procedure for manufacturing businesses and industries remain unchanged.

“Since the dos and don’ts list as well as SOP are unchanged, I hope there will be no confusion in enforcing the SOP.

“I do not want the public to be affected by the wrong interpretation of SOP by enforcement bodies, ” said Ismail Sabri.

Sources said those who attended the meeting agreed that the lockdown should be extended.

​“After listening to the (Health) ministry’s presentation, everyone shared the same view that there is a need for (the lockdown) to continue for another two weeks to see if the number of daily cases can be brought down, ” said a source.

On May 28, the Prime Minister announced that the country would go into a full lockdown for 14 days from June 1, with only essential economic and service sectors allowed to operate.


At the time, the healthcare system was thought to be near breaking point as the number of Covid-19 cases had breached the 8, 000 mark and new variants had emerged.

Tan Sri Muhyiddin Yassin had said then that should the first phase of lockdown succeed in reducing the number of daily cases, the government would move to a second phase of four weeks with certain economic sectors to open, provided no large gatherings are involved and physical distancing is practised.

​“After that, Phase Three would start with the implementation of a movement control order where no social activities are allowed, ” he had added.

Refer from thestar.com.my

MCT Bhd is looking to launch seven new developments, worth RM2.2 billion in total, this year. These launches comprise residential units and commercial projects.

​These seven launches include Aetas Damansara in Tropicana Golf & Country Resort, Damansara; Alira in Metropark, Subang as well as Sanderling Lakefront Residences in Cyberjaya. Other projects include a boutique commercial centre at Lakefront Cyberjaya; the maiden phase of Cybersouth Town Centre in Dengkil as well as new residential developments in USJ Subang and Cybersouth, respectively.

CEO Teh Heng Chong expects the property market to continue its path towards recovery as the global economy is gaining steady progress following the recent Covid-19 vaccine roll-out. The low interest rate environment and reintroduction of the Home Ownership Campaign, he said, present good buying opportunities, and more homebuyers are searching for their dream homes.

“Recognising the prevailing uncertainties in the environment, we have quickly pivoted to broaden our product offerings to support future growth and build business resiliency. Over the past few years, we have been growing our presence in the southern region of the Klang Valley, focusing on residential developments in Cyberjaya and our first township development in Cybersouth,” he said in a press release.

“Moving forward, we aim to expand our development footprint, targeting prime areas within the Klang Valley, in order to reach out to various market segments. We are also actively pursuing joint venture and land acquisition opportunities to fuel future growth.”

MCT currently has an undeveloped land bank of 289.5 acres with a total gross development value (GDV) of about RM11.4 billion.

Aetas Damansara will be officially launched this month, offering 226 condominium units priced from RM1.97 million. The RM564 million project spans 1.76 acres in Tropicana Golf & Country Resort. The developer’s maiden luxury residential project is also a joint development with Ayala Land, Inc. 

Teh explained that Aetas Damansara echoes MCT’s new vision to set a new benchmark of living spaces anchored on three key elements — bespoke design, efficient space planning and best-in-class fittings. Each unit has an exclusive private lift lobby, which is further enhanced with a multi-tier security system.

Also, phase one of Alira in Metropark Subang is targeted for launch in the first quarter. With a GDV of RM316 million, it consists of 492 apartment units, with built-up areas from 695 to 1,048 sq ft. 

Sanderling Lakefront Residences will have 606 units of condominiums priced from RM475,000. To be launched in the second quarter, the development is surrounded by universities and technology-related workplaces.

In 2020, the group has handed over 3,053 units to homeowners of Selangorku PR1MA Lakefront Homes, Lakefront Residence (Phase Two) in Lakefront Cyberjaya as well as Casa Bluebell and Casawood landed residential developments in Cybersouth township.

There is a crane incident at The Exchange TRX. The good news is there is no one injured in the incident. 
"No one was injured in a crane incident at The Exchange TRX project site yesterday", said property developer Lendlease.

A heavy storm started at approximately 6pm and it has been established that the crane jib had come down during this storm event. No one was injured during this incident," said the group said in a statement.

“A team has been assembled to manage the situation and we are working closely with the relevant authorities. The team is unable to provide further details, as investigations are ongoing.
“The safety and well-being of our workers onsite remain our top priority,” added Lendlease.

CapitaLand Malaysia, a unit of Singapore-listed CapitaLand Ltd, said it is the first mall operator in Malaysia to onboard seven malls within its portfolio onto Grab's Malls by GrabMart platform.

The seven malls comprise Queensbay Mall in Penang, Melawati Mall in Taman Melawati and five owned by CapitaLand Malaysia Mall Trust (CMMT) — Gurney Plaza (pictured) in Penang, a majority interest in Sungei Wang Plaza in Kuala Lumpur, 3 Damansara in Petaling Jaya, The Mines in Seri Kembangan and East Coast Mall in Kuantan.

In a press release, CapitaLand Malaysia’s head of retail Eddie Lim said an omnichannel strategy to support shoppers and retailers was catalysed by the greater adoption of digitalisation in the retail sector during the Covid-19 pandemic. Consumers opted to stay at home as movement restriction orders were in place, leaving a significant impact on many businesses.


Shoppers can now enjoy the convenience of shopping at CapitaLand malls within a digital space in the comfort of their homes. With more than 50 CapitaLand tenants listed on Malls by GrabMart, shoppers can mix and match their orders from different stores in the same mall and have the orders delivered, and pay only one delivery fee.


Grab Malaysia head of commercials JJ Tan said: “With popular household brands under CapitaLand’s list of merchants on Malls by GrabMart, we are confident that shoppers will find it more convenient to shop online from these merchants and have their purchases delivered right to their doorstep in a single order with one delivery fee. This would definitely be a much safer and cost-efficient way to purchase a variety of items from different shops from the same shopping mall.”

CMMT is listed on Bursa Malaysia and has a market capitalisation of RM1.46 billion. 

The article is refer from edgeprop.my

Penang is honorably being ranked No.3 in Global for being 2021 BEST Islands in the World to Retire On. Wow what an honor for us.  Its not just the heaven for great food but its heaven for retiree to retire in.

International Living listed Penang as the 3rd best island in the world to retire in, after Malta and Mallorca, Spain. International Living consists of “in-the-know professionals” who have been covering overseas retirement trends for over 40 years.

The list listed Top 15 Islands in the World to Retire On. The criteria for the list include “the ability to live a simpler, more peaceful life without breaking the bank”. George Town, Penang is “home to eclectic architecture, a vibrant art scene, and the best street food in the world”.

There are 3 other Asian countries that made the list as well, aside from Penang, Malaysia. They are Bali (9th place), Koh Samui, Thailand (10th place), and Phu Quoc, Vietnam at 15th place.
Here's the Full List of Top 15 Island in the World to Retire On:

1. Malta
2. Mallorca, Spain
3. Penang, Malaysia
4. Ambergris Caye, Belize
5. Ireland
6. Roatan, Honduras
7. Isla Mujeres, Mexico
8. Isla Colon, Panama
9. Bali
10. Koh Samui, Thailand
11. Las Terrenas, Dominican Republic
12. Crete, Greece
13. Cozumel, Mexico
14. Caye Caulker, Belize
15. Phu Quoc, Vietnam

Great news that MRT 3 is reviving and MRT 2 is completing soon and operating in August 2021. That will make our public transportation coverage much wider and much further. Thus this will further benefit Malaysians where our Public Transport system is much better than ever. 

Back to 7th November 2020, Malaysia government had announced in Budget 2021 that they are reviving the multi-billion ringgit Mass Rapid Transit Line 3 (MRT 3) under the Budget 2021. 

"Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz says the government has allocated RM15bil for transport infrastructure projects for 2021 as part of the government’s commitments that will benefit the people. Aside the MRT 3 project, the government will fund projects like Pan Borneo Highway, Rapid Transit System Johor–Singapore, first phase of Klang Valley Double Track (KVDT) and Gemas-Johor double tracking."

Bank Negara Malaysia has maintained the Overnight Policy Rate (OPR) at 1.75 per cent at its second Monetary Policy Committee (MPC) meeting today.


The central bank’s MPC considers the stance of monetary policy to be appropriate and accommodative.

“Given the uncertainties surrounding the pandemic, the stance of monetary policy going forward will continue to be determined by new data and information, and their implications on the overall outlook for inflation and domestic growth.

​“The bank remains committed to utilising its policy levers as appropriate to foster enabling conditions for a sustainable economic recovery,” it said in a statement

BNM said, domestically, the latest indicators point to improvements in external demand and continued consumer spending.

The reimposition of containment measures will affect growth in the first quarter but the impact is expected to be less severe than that experienced in the second quarter of 2020.

“Going forward, growth is projected to improve from the second quarter onwards, driven by the recovery in global demand, increased public and private sector expenditure amid continued support from policy measures and more targeted containment measures,” the central bank said.

The growth will also be supported by higher production from existing and new manufacturing facilities, particularly in the electrical and electronic and primary-related sub-sectors, as well as oil and gas facilities.

“The rollout of the domestic Covid-19 vaccine programme will also lift sentiments and economic activity.

“The growth outlook, however, remains subject to downside risks, stemming mainly from ongoing uncertainties in developments related to the pandemic, and potential challenges that might affect the rollout of vaccines both globally and domestically,” it noted.

Meanwhile, the headline inflation in 2021 is projected to average higher, primarily due to higher global oil prices. In terms of trajectory, headline inflation is anticipated to temporarily spike in the second quarter of this year due to the lower base from the low domestic retail fuel prices in the corresponding quarter of 2020, before moderating thereafter.

Underlying inflation is expected to remain subdued amid continued spare capacity in the economy, it said, adding that the outlook, however, is subject to global oil and commodity price developments.

BNM said the global economic recovery, while uneven, is gaining momentum, supported by steady improvements in manufacturing and trade activity.

The ongoing rollout of vaccination programmes in many economies, together with policy support, will further facilitate an improvement in private demand and labour market conditions.

“While financial markets have experienced bouts of volatility, financial conditions remain supportive of economic activity.

“Risks to the growth outlook have abated slightly, but remain tilted to the downside, primarily due to uncertainty over the path of the Covid-19 pandemic and effectiveness of the vaccination programmes,” it added. 

As from the declaration from KWSP in their website www.kwsp.gov.my on 24th Feb 2021, the EPF Dividend Rate for 2020 will be 5.20%. This for the first time EPF had outperformed PNB's benchmark Amanah Saham Bumiputera (ASB). Permodalan Nasional Bhd’s (PNB) dividend for 2020 is declare at 4.25%.

​  One of the main factor is that EPF's asset are in Bonds and Overseas investment, unlike PNB portfolios. The highest payout of EPF is declare at 6.9% dated in 2017. Last month, PNB announced a distribution payout of 4.25 sen per unit plus an “Ehsan” payment of 0.75 sen for the first 30,000 units for its flagship fixed-price unit trust fund ASB for the financial year ending Dec 31, 2020

Over the years, there have been many suburbs that have seen a surge in property value and market demand due to a host of factors such as the introduction of infrastructure developments, retail developments that draw in a crowd as well as unique residential and commercial developments that add to the profile of the location. StarProperty takes a look at the eight suburbs that are showing promises for the near future based on Compound Annual Growth Rate (CAGR) of terraced houses, shop lots and condominiums as well as existing and incoming infrastructure developments.
​

Damansara Heights has always been known for its luxurious catalogue of bungalows stacked along windy roads that are home to affluent individuals. The residential houses within the area have always had a huge price tag with even smaller units running into the millions. In the beginning of 2016, terraced houses saw a dip in price under RM1,000 per sq ft (psf) until the MRT Line 1 was launched later in the year. As of 2019, the average price has returned to over RM1,000 psf and is on a steady incline. ​

Bangsar is known to many as a high-end location with a reputation for pricey food and beverage options just outside the city centre area. Home to many expatriates and high networth individuals, it is a township that has commanded a great deal of demand over the years. Although residential developments have seen a drop in price over the last few years, shop offices within the area have seen a sizeable increase of 3% CAGR with an average transaction value of RM7.2mil as of 2018. 

​

This article is refer from www.starproperty.my

Here the summaries of the Budget 2021 Announcement.

KUALA LUMPUR (Nov 3): Bank Negara Malaysia (BNM) has decided to maintain the Overnight Policy Rate (OPR) at 1.75% today as the country’s economic activity is projected to improve further and as the central bank expects the nation’s underlying inflation to remain subdued as the world economy contends with the resurgence in Covid-19 cases.

In a statement today, BNM said the global economy continues to recover, led by improvements in manufacturing and export activity although the resurgence in Covid-19 cases suggests that the global economic recovery will likely remain uneven in the near term. 

"For Malaysia, the latest indicators point towards significant improvement in economic activity in the third quarter. The introduction of targeted measures to contain Covid-19 in several states could affect the momentum of the recovery in the fourth quarter. Nonetheless, growth for the year 2020 is expected to be within the earlier forecasted range. 

"For 2021, economic activity is projected to improve further. This will be underpinned by the recovery in global demand, turnaround in public and private sector expenditure amid continued support from policy measures, and higher production from existing and new facilities. Nevertheless, the pace of recovery will be uneven across sectors, with economic activity in some industries remaining below pre-pandemic levels, and a slower improvement in the labour market. Downside risks to the outlook remain, stemming mainly from ongoing uncertainties surrounding the pandemic globally and domestically,” BNM said in the statement, which was issued following the conclusion of its Monetary Policy Committee's (MPC) final meeting for 2020 today.

On Malaysia’s inflation, BNM said that in line with earlier assessments, headline inflation is likely to average negative this year given the substantially lower global crude oil prices. For 2021, headline inflation is projected to average higher. 

The country’s inflation outlook will continue to be significantly affected by global oil and commodity prices, according to BNM.

"Underlying inflation is expected to remain subdued in 2021 amid continued spare capacity in the economy,” BNM said.

According to BNM, the MPC considers the current stance of the central bank’s monetary policy to be appropriate and accommodative. 

"The cumulative 125 basis points reduction in the OPR this year will continue to provide stimulus to the economy. The MPC will continue to assess evolving conditions and their implications on the overall outlook for inflation and domestic growth. 

"The bank (BNM) remains committed to utilise its policy levers as appropriate to create enabling conditions for a sustainable economic recovery,” BNM said.

The MPC had also during its meeting today approved the schedule of its meetings for 2021. 

BNM said that in accordance with the Central Bank of Malaysia Act 2009, the MPC will convene six times during 2021. 

"The meetings will be held over two days, with the monetary policy statement released at 3pm on the second day of the MPC meeting,” the central bank said.


The articles is referred from theedgemarkets.com

KUALA LUMPUR: The government just announced that Kuala Lumpur, Selangor and Putrajaya will be placed under Conditional Movement Control Order (CMCO) effective midnight Oct 14.


This was decided upon following advise from the Health Ministry after Covid-19 cases continue to increase in several districts within the Klang Valley namely Klang, Petaling and Hulu Langat, said Senior Defence Minister Datuk Seri Ismail Sabri Yaakob in a live broadcast today.


The CMCO will come into effect at 12.01am Oct 14 until Oct 27.


Inter-district travelling will be barred during this period and workers will need to show their work pass or consent letter from employers in order to move from one district to another.


Ismail Sabri said only two persons from a household will be allowed to go out and buy essentials.


All schools, higher learning institutions, skills training institutes, kindergarten, nursery, tahfiz centres, public parks and recreational parks will close as well as mosques and non-Muslim houses of worship.


All sports activities, recreational, social, cultural and wedding receptions are not allowed to take place and entertainment centres and night clubs are not allowed to operate, he informed.
​

However, all economic activities in Selangor, KL and Putrajaya can proceed as usual with a more detailed standard operating procedure (SOP) to be announced by the National Security Council soon.


Refer from www.nst.com.my

SCAM CALL have been getting more aggressive than ever in lately period. 
Author just got a SCAM CALL and this encourage me to share to the public to help raise awareness about it.
Do you know Malaysia is the Top 20 Nation in the global that is most affected by scam calls?
The below is part of the Articles I refer from nst.com.my.

“Malaysia is the market that receives the biggest percentage of scam calls in the world at 63 per cent.
“Most of the calls are from financial services (21 per cent), insurance (10 per cent), operators (five per cent) and debt collectors (one per cent).
“For the past 12 months, Malaysia has seen a 24 per cent increase in spam calls, from 6.7 to 8.3 spam calls per month. Scam calls from fake insurance and debt collectors are common. The Macau and Astro scams too have been flooding the market over the past year."

And this is my experience over the Scam Call which claim to be calling from Public Bank. The guy have mention my name in Full and saying that I have not been paying the credit card bill for two months. 
I told him that I don't even have a credit card and he mention that in his system showed that I have a credit card under Public Bank and my name is Mr XXX.
(Then I think this is the next step where he is going to ask me for personal details to clarify and perhaps offer me some good deal or card number etc.)
Then I mention to him that I dont even have a Public Bank account. He mention that in the system have and bla bla bla... End up I told him, is it according to your Fraud List system, then suddenly he just hung up. The number showed in is 03-9418 5197.

Well folks, just be more careful and Bank will never call in to ask for very detailed personal details for clarification. If you worry on what being mention in the phone call, you can go to the bank and verify. So PLEASE DO NOT give any sensitive personal details in Phone Call!

The 486-acre Bandar Malaysia development is more than a financial and business centre; the development comprises offices, retail, residential, arts and entertainment, medical and education components that offer convenience to the residents and working population there.


Another key feature that enabled IWH-CREC Sdn Bhd to win the Bandar Malaysia deal is the idea of creating an underground canal city — an inspiration which executive chairman of Iskandar Waterfront Holdings Sdn Bhd and chairman of Ekovest Bhd, Tan Sri Lim Kang Hoo obtained during a holiday in Montreal, Canada.
​

The plan is to turn the underground space into a 24-hour retail and entertainment centre that caters to the needs of the working population in Bandar Malaysia.


Designed as an integrated terminus, the connectivity and accessibility to public transportation and road system are the greatest advantages of Bandar Malaysia.

It comprises multi-level public transport networks including the upcoming Kuala Lumpur-Singapore High Speed Rail (HSR), soon-to-be-completed electrified double-tracking project, KTM Komuter, MRT and LRT, Monorail and Express Rail Link.

In terms of road connectivity, it is easily accessible via Duke 3, KL-Seremban Highway, SMART tunnel, Maju Expressway, East-West Link Expressway and future elevated highways.

This is one of the most positive and happiest video I ever watch in past months... Its not 100% successful but its positive enough for every single one of us. What if we finally get the vaccine?

Will all of us get back to normal life? Or there new norm is still within our life?
​Lets enjoy this wonderful video done by Nas Daily.

The below video is done by Nas Daily (2020, Aug 8th). "The Exciting Covid-19 Vaccine!" Retrieved from https://youtu.be/lJaR-tkiwV8. 

How about the effect on property?
Once the vaccine is ready and work well. I suppose a lot of thing will back to the old norm but mixture with the new norm such E-Commerce and online meeting will be even more popular than ever. Tourism will back to close to old norm with more safety measures taken. Once tourism is back, short term stay especially in Tourism Spot will be back in business as well. Suppose more cleaning measures will be taken but that's the necessity for it to work. 

During this tough period since MCO started in Malaysia, there shall be more units been auction in the market. There is secret buyers group who are secretly but aggressively increase their portfolio during these hot period of Auction Market which lots of under value properties is in the Auction Market. Once the tourism market is back, short term stay such as AirBNB etc will be back and shall thrive as many is already itch for travelling. Currently, its the local tourism within Malaysians that getting attractive with lots of promotion in rushing to market. 

So lets the time tell if these vaccines be ready soon so we can get partial of our old norm back. At least life without MASK. Especially we are living in such a warm country. Aren't you enough of the MASK?

Selamat Hari Raya Haji to all our muslim friends, colleagues and family
🌈 Travel Safely if any of you balik kampung

For the rest of us
​Happy Holiday, Keep Safe, Keep Health and Keep in touch!😃

KUALA LUMPUR: Malaysia's central bank is expected to cut interest rates to a historic low next week, according to a slim majority in a Reuters poll, as it seeks to protect Southeast Asia's third largest economy from the fallout of the coronavirus pandemic.

​Bank Negara Malaysia (BNM) will cut its overnight policy rate (OPR) by at least 25 basis points (bps) to 1.75%, according to seven out of the 12 economists polled, with two of them betting on a bigger 50 bps rate reduction.

The remaining five economists expected interest rates to stay at 2.00%, already a record low, after three consecutive rate reductions in as many meetings this year.

Alex Holmes, Asia economist for Capital Economics, was one of the analysts who forecast a bigger move in the upcoming meeting.

"Given the poor outlook for growth and deeply negative inflation, we suspect the BNM will make use of its policy space and opt for a 50bp cut," he said.

Malaysia began easing some lockdown measures imposed to contain the spread of the Covid-19 coronavirus in May. After growing just 0.7% in the first quarter, BNM said Malaysia is in an "unprecedented economic crisis" and was poised for a contraction in April-June.

While trade-reliant Malaysia had begun a "long and slow" recovery after some lockdown curbs were relaxed, Holmes said poor external demand and deflation warranted more policy easing.

Malaysia's exports fell 25.5% in May, its biggest drop in 11 years.

The consumer price index fell 2.9% in May from a year earlier, as the economy grappled with subdued consumption for a third straight month.


The government in March rolled out a 260 billion ringgit ($60.69 billion) stimulus package to offset a sharp slowdown in domestic economic activity, and steep declines in tourism and demand for its commodities such as palm oil, crude oil and natural gas. ($1 = 4.2840 ringgit) - Reuters

Refer from thestar.com.my

​KWASA Damansara City Centre (KDCC) forms the vibrant nucleus of the sprawling Kwasa Damansara integrated masterplan. It comprises retail spaces, offices, civic centres and residential component interlaced with pristine urban parks and lush landscaped green surroundings.

 The offices are situated on a 29.8-acre of land, a fully commercial component undertaken by Kwasa Land Sdn Bhd, while the remaining 64 acres of land will be developed by its project delivering partner, MRCB Land, into a mixed development that will form the entire KDCC. Planned and created by the pioneer of TOD developer, MRCB, the grand master plan of KDCC principally revolves around five distinct futuristic visions namely Green, Connectivity, Inclusive, Sustainability and Futuristic.

KDCC will be a green metropolis masterpiece with a healthy 25% of the entire master plan being dedicated to green spaces and parks. The city centre is set to become Malaysia’s first integrated township development featuring elevated walkways with easy access to public transportation and major highways.
Its inclusiveness cuts across the community; all walks of life can enjoy the wide public spaces, elevated walkways and lush urban parks. It is also being built to encompass multiple aspects of sustainability that include energy efficiency, the use of eco-materials, bio-climatic buildings, and landscape designs.

KDCC is envisaged to be an integrated ICT smart township with state-of-the-art digital systems and infrastructure complete with broadband and high-speed fibre wire connectivity. It will incorporate multiple transport solutions that cater to the needs of large commuter traffic volumes.
​
"KWASA DAMANSARA CITY CENTRE, A LANDMARK IN THE MAKING, ENCOURAGES VISION AND POSSIBILITIES"

Project Name: Kwasa Damansara City  Centre
Holding Company: MRCB Land
Project Location: Kwasa Damansara
Project Launch Date: 2020
Award Won: The Proximity Award

New opportunities

Old dated buildings that have low occupancy can be repurposed for new alternative uses depending on the location, neighbourhood and surrounding developments. 

With the current drop in property prices, it is a good time to track down such properties that can be used to generate a profitable income.

For businesses which are facing financial difficulties, they should consider a sale and leaseback opportunities to free their cash flows, Lim said.

“Such a move would lower fixed costs, and release capital for re-investment into their core businesses,” Moreover, there is no moving cost as these businesses can continue to operate from the same premise after their sale, he said.

There will always be new opportunities, but the key is knowing where to look.


Refer from starproperty.my