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

KUALA LUMPUR (May 20): Fire broke out at the construction site of Millerz Square on Old Klang Road, Kuala Lumpur at around 9.30am today. Developer Exsim Group said in a statement that no injuries have been reported so far.

“The local police and Bomba services were immediately alerted and the fire has now been put under control. Investigation on the cause of fire is ongoing.

“Our sincere apology to those who have been affected by this mishap, especially to the immediate neighbours,” the developer said in a statement on its website.

Thick smoke from the construction site of the mixed development could be seen from afar this morning.

“We will provide updates as and when more information is made available, we will be delivering further updates,” the developer said.

Refer from edgeprop.my

Wow! Bank Negara Malaysia have decide to further reduce the Overnight Policy Rate (OPR) by 50 basis point to 2% ONLY. Its ALL TIME LOW!

Monetary Policy StatementAt its meeting today, the Monetary Policy Committee (MPC) of Bank Negara Malaysia decided to reduce the Overnight Policy Rate (OPR) by 50 basis points to 2.00 percent. The ceiling and floor rates of the corridor of the OPR are correspondingly reduced to 2.25 percent and 1.75 percent, respectively.

Global economic conditions have weakened significantly. Measures to contain the COVID-19 pandemic have disrupted economic activity across most economies. Recent indicators show that the global economy is already contracting, with global growth projected to be negative for the year. Financial conditions have also tightened amid elevated risk aversion and uncertainty. Substantial policy stimuli introduced by many economies, coupled with the gradual easing of containment measures globally, would partially mitigate the economic impact of COVID-19. Growth prospects should improve in 2021 with the expected containment of the pandemic.        

For Malaysia, domestic economic conditions have similarly been affected by the pandemic. Widespread containment measures globally, international border closures and the consequent weak external demand environment will exert a larger drag on domestic economic activity. The Movement Control Order, while necessary to contain the spread of the virus, has also constrained production capacity and spending. Labour market conditions are also expected to weaken considerably. Economic conditions would be particularly challenging in the first half of the year. The fiscal stimulus measures, alongside monetary and financial measures will, however, offer some support to the economy. With more businesses allowed to operate under the Conditional Movement Control Order, economic activity is projected to gradually improve. The outlook for growth continues to be subject to a high degree of uncertainty, particularly with respect to developments surrounding the pandemic.

Inflationary pressures are expected to be muted in 2020, with average headline inflation likely to be negative this year, due mainly to projections for substantially lower global oil prices. Nevertheless, the outlook remains significantly affected by global oil and commodity prices, as well as evolving demand conditions. Underlying inflation is expected to be subdued given the projections of weaker domestic growth prospects and labour market conditions.

The financial sector is sound, with financial institutions operating with strong capital and liquidity buffers. Liquidity remains ample, augmented by liquidity injections by Bank Negara Malaysia. Since March 2020, Bank Negara Malaysia has provided additional liquidity of approximately RM42 billion into the domestic financial markets, via various tools including outright purchase of government securities, reverse repos and the reduction in Statutory Reserve Requirement. Bank Negara Malaysia stands ready to provide liquidity in the interbank market to ensure orderly market conditions, conducive to support financial intermediation activity.

With the decision today, the OPR has been reduced by a total of 100 basis points, complementing other monetary and financial measures by Bank Negara Malaysia as well as fiscal measures this year. Together, these measures will cushion the economic impact on businesses and households and support the improvement in economic activity. The MPC will continue to monitor the outlook for domestic growth and inflation. The Bank will utilise its policy levers as appropriate to create enabling conditions for a sustainable economic recovery.


Bank Negara Malaysia
05 May 2020

Refer from bnm.gov.my

Several Malaysian banks have announced that they are now allowing customers to apply for temporary deferment in repaying loans that could be affected by the 2019 novel coronavirus outbreak.
This is in light of the various travel and logistical restrictions imposed in China due to the virus outbreak, which saw many business owners face various challenges that will affect cash flow. As such, these Malaysian banks hope to lighten their customers’ financial burden in this period of difficulty.
This sentiment is echoed by the Association of Banks Malaysia. “Concerted efforts by our member banks are underway to ensure that bank customers are able to weather through this trying time and ensure business continuity,” it said in a statement.

KUALA LUMPUR: KL East Mall has announced the line-up of its key tenants comprising well-known brands such as Jaya Grocer, Camp5, MBO, Blue Ice-Skating Rink, Toys ‘R’ Us, Harvey Norman, Jungle Gym and Café Chef Wan. 

The KL East Mall is a new retail and lifestyle boutique mall located at KL East, a 160-acre integrated development by Sime Darby Property. The mall is the group’s first 100% owned retail mall development, with a gross build-up of approximately 1.2mil sq ft.

​Sime Darby Property acting group CEO Datuk Wan Hashimi Albakri Wan Ahmad Amin Jaffri said that KL East Mall aspires to become the catalyst for the KL East development of Sime Darby Property. It is positioned as a boutique lifestyle retail mall that will serve the surrounding upmarket neighbourhood of middle to middle-upper income brackets.
​

Refer from Starproperty

KUALA LUMPUR (Oct 14): Mammoth Empire Holding Sdn Bhd (MEH) has sold a 61-acre tract in Damansara Perdana, Selangor, to Exsim Development Sdn Bhd for RM760 million, reported The Edge Malaysia based on government documents.

According to information released by National Property Information Centre (Napic), the six lots of land were transacted in March.

The weekly also confirmed with MEH executive director Datuk Danny Cheah that the lands “had been set aside” for Empire City Damansara 2 (ECD2). MEH is the developer of the RM5 billion Empire City Damansara (ECD1).

The business publication calculated that at “RM760 million, the deal for the 61 acres, or 2.67 million sq ft, works out to RM286 per sq ft (psf)”.

Cheah also explained that “while earlier reports put the total acreage at 65 acres”, four acres “had been surrendered for infrastructure such such as a Majlis Bandaraya Petaling Jaya road, the Damansara-Shah Alam Elevated Expressway (DASH) and a water tank”.

The same news report stated that the sale of the tracts “is part of MEH’s measures to pare down debt and complete the long-delayed ECD1”.

“We have cleared over 90% of our bank loans [of which] RM140 million was with AmBank, RM290 million with Maybank and RM158 million with Affin Bank. We have only a balance of RM40 million of loans with AmBank for ECD1,” Cheah said.

“Hopefully, by 2020, we will be free of bank encumbrances. We want to plan and execute things at our own pace,” he added.

Cheah said MEH will complete and reopen the Empire City Mall by 2022.

Meanwhile, Exsim head of corporate communications Michelle Siew told The Edge that the name of ECD2 will be changed to Central Park Damansara.

She also said that the development of the 61 acres “is expected to take eight years to complete”. The estimated GDV is RM9 billion.

The weekly also reported that Exsim has plans to build “20 blocks of office buildings of between 28 and 49 storeys, five blocks of serviced apartments of 39 to 49 storeys and six blocks of affordable apartments of 43 to 47 storeys” plus an auditorium, retail units, a hotel and a private school.

The company will be launching D’Quince Residences (currently in the registration stage and awaiting final approval) there.

D’Quince Residences has a GDV of RM580 million.

Refer from www.edgeprop.my

The government is going to announce Budget 2020 in three days!
What is on your wish list? What do you expect?
​Tell us more in the comments below.

​Having been raised from a 1,800-acre rubber plantation to host the 16th Commonwealth Games in 1998, this compact neighbourhood now includes a manicured recreational park, a sprawling golf and country resort, the International Medical University, and a 100,000-seat multi-purpose stadium of National Stadium Bukit Jalil – a regular venue for the Malaysia Cup.

Further developments are slated to occur in the coming years – with developers planning to provide Bukit Jalil with additional residential options and a new shopping centre. 
Over the last 10 or so years, Bukit Jalil has developed from being a sporting hub centred around the National Stadium to a complete residential suburb touted as one of the prime property development locations for younger generations of buyers.
Prime residential developments coupled with education institutions such as the International Medical University (IMU) and Asia Pacific University (APU) have caused a shift in the demographics to younger, mid-to-high income earning levels of society.

The article is refer from Starproperty
With contributions from Shamir R., a crime and safety consultant from PreventCrimeNow.com

Zoo Negara needs your help! Please help to circulate to get more visitors to preserve those time our memory lived. Lets pay a visit soon! Its definitely some experience for our family and kids. A national Zoo shouldn't be close down. Here's some of the moment of Zoo Negara in the past.
Lets get them going on forever! It's should be one of the pride and symbol of our nation.

By Veena Babulal - May 17, 2019 @ 12:31pm

KUALA LUMPUR: Zoo Negara desperately needs more visitors and sponsors for its animals, particularly its Malayan tigers, to cover its operational costs and expansion in line with its status as a national zoo.


Zoo Negara Malaysia deputy president Rosly @ Rahmat Ahmat Lana said the management needed RM500,000 a year to care for its tigers.


“It costs RM100 a day to feed the Malayan tigers while the Bengal ones eat 10kg of meat, or RM200 worth, a day. This boils down to RM40,000 per tiger a year, including their medicine.


“Factoring in the zookeepers’ expenses, we need about RM500,000 a year. Ideally, to expand and make the zoo a focus of Asian tiger observation, we need about RM1 million annually.


“This can also come through private sponsorship, where companies can sponsor one or more animals for as long as they like. They can also name the newborns.”


He said five-year federal grants of RM5 million that the zoo used to receive had ended in 2004, and it now survived on one-off government aid for maintenance and upkeep.


“We have been spending RM1 million to RM1.2 million a month for the last three years and we need to have at least 500,000 visitors to break even from ticket sales, among others.


“The fact that we are spending all we are getting leaves no room for expansion of the zoo as a facility for education, conservation and scientific research.”


Rosly also lamented the decline in visitors from 2015 onwards.
Zoo Negara had clocked a record of 708,000 visitors in 2014, when China presented Malaysia with two giants pandas, Xing Xing and Liang Liang.


“In 2016, we had 435,000 visitors only and it sank to 345,000. But the figure recovered slightly with 368,000 people coming in last year. But it’s still an overall decline.”


He, however, said the zoo looked forward to meeting Water, Land and Natural Resources Minister Dr A. Xavier Jayakumar, who is expected to open their new tiger “immersion centre”, complete with an elevated passageway that the ministry funded.


“We will be inviting Prime Minister Tun Dr Mahathir Mohamad and Gombak member of parliament Datuk Seri Azmin Ali, 
who is the economic affairs minister.


“We look forward to sitting down with the government to chart the way ahead for Zoo Negara as a conservation, education and research facility, as well as play a role as a stakeholder in drafting policies for conservation, zoos and captive breeding as a whole.


“We also hope that they actively campaign to publicise our zoo in Malaysia and internationally as it is the emblem for conservation.”

By Teh Athira Yusof - May 10, 2019 @ 7:52am

KUALA LUMPUR: Fresh questions have been raised on whether the West Coast Expressway (WCE) will open in time for Hari Raya Aidilfitri as promised, following the collapse of a section in Klang on Saturday.


The collapse of the 110m section caused water disruption in 65 areas in Klang due to three damaged main pipes under the 223km highway project, which connects Banting, Selangor, to Taiping, Perak.


WCE Sdn Bhd managing director Datuk Neoh Soon Hiong rebutted claims that the project would not be completed by Hari Raya.
He said the company would announce soon whether the deadline would be met.


He said the project’s physical work was almost complete.


“Physically, we are almost complete. The four packages are 95 per cent done, but the remaining work that needs attention will take some time as there are certain agencies that need to go through federal gazettes, speed limit gazettes as well as safety gazettes.

“WCE will make an announcement on May 20 on whether the project will be ready in time for Aidilfitri or otherwise.”


On Wednesday, the Malaysian Highway Authority (MHA) said the highway’s completion could be postponed as there was still work to be done to ensure the stretch was safe for motorists.


On the collapsed section, Neoh said soil movement was involved, adding that it would be best to wait for the investigation report to be completed.


“It is best that we don’t jump to any conclusion and start pointing fingers before we receive the investigation report.


“A consultant has been appointed to look into the matter.”

On the road collapse, MHA director-general Datuk Aziz Abdullah said there were standard guidelines that need to be taken into account in such instances.


“There is a standard guideline, based on the highway’s traffic rate indicating the number and type of vehicles that ply the area, which needs to be adhered to ensure a safe environment.


“The safety, comfort and function of the road for motorists are our priority.


“MHA hopes to have the four packages opened before Hari Raya, but only after safety measures are taken.”


He said packages under the project were the Hutan Melintang-Teluk Intan line (19.1km), Lekir-Changkat Chermin line (28km) and Changkat Chermin-Beruas line (16.6km) in Perak and the Selangor package, which only involved the northern part of the state.


The Banting-Taiping WCE project, which was initiated in 2013 and divided into 11 packages, was set to be completed by 2020, but was postponed to 2021.
It is understood that about five packages were scheduled to be carried out this year.


WCE is expected to complete work on the highway, which stretches from Jalan Banting-KLIA (B18) to the Tanjong Karang interchange (93.8km) in Selangor and from Jalan Persekutuan (FR5) in Hutan Melintang to the Changkat Jering Plaza Toll (139.2km) in Perak, this year.


It is jointly developed by the Public Works Department and toll concessionaire WCE Holdings Bhd’s West Coast Expressway Sdn Bhd.

The articles is refer from https://www.nst.com.my

PRESS RELEASES
Monetary Policy Statement
Bank Negara Malaysia
07 May 2019

At its meeting today, the Monetary Policy Committee (MPC) of Bank Negara Malaysia decided to reduce the Overnight Policy Rate (OPR) to 3.00 percent. The ceiling and floor rates of the corridor for the OPR are correspondingly reduced to 3.25 percent and 2.75 percent respectively.
 
The global economy continues to expand moderately. While growth outcomes for several major economies were better than expected during the first quarter, underlying economic conditions continue to suggest moderation going forward. Considerable downside risks to global growth remain, stemming from unresolved trade tensions and prolonged country-specific weaknesses in the major economies, further dampening global trade and investment activities. Although the tightening in global financial conditions has eased somewhat, heightened policy uncertainties could lead to sharp financial market adjustments, further weighing on the overall outlook.
 
For Malaysia, latest developments point towards moderate economic activity in the first quarter of 2019. Looking ahead, slowing global demand conditions and subdued growth of key trading partners will continue to weigh on the external sector. Domestically, stable labour market conditions and capacity expansion in key sectors will continue to drive household and capital spending. The baseline projection is for the Malaysian economy to grow within the projected range of 4.3% - 4.8%. However, there are downside risks to growth from heightened uncertainties in the global and domestic environment, trade tensions and extended weakness in commodity-related sectors.
 
Headline inflation increased to 0.2% in March 2019 (February: -0.4%), due mainly to the less negative transport inflation at -3.0% (February: -6.8%). Underlying inflation, as measured by core inflation[1], remained stable at 1.6% in March 2019. In the immediate term, inflation is expected to remain low mainly due to policy measures. These include the price ceiling on domestic retail fuel prices until mid-2019 and the impact of the changes in consumption tax policy on headline inflation. For 2019 as a whole, average headline inflation is expected to be broadly stable compared to 2018. The trajectory of headline inflation will continue to be dependent on global oil prices. Underlying inflation is expected to remain stable, supported by the continued expansion in economic activity and in the absence of strong demand pressures.
 
The domestic financial markets have remained resilient, despite periods of volatility primarily due to global developments. While domestic monetary and financial conditions remain supportive of economic growth, there are some signs of tightening of financial conditions. The adjustment to the OPR is therefore intended to preserve the degree of monetary accommodativeness. This is consistent with the monetary policy stance of supporting a steady growth path amid price stability. The MPC will continue to monitor and assess the balance of risks surrounding the outlook for domestic growth and inflation.



[1] Core inflation is computed by excluding price-volatile and price-administered items. It also excludes the estimated direct impact of consumption tax policy changes.


Refer from Bank Negara Malaysia

PUTRAJAYA: Malaysia Rail Link Sdn Bhd and China Communications Construction Company Ltd have signed a supplementary agreement that will pave the way for the resumption of the East Coast Rail Link (ECRL) project.

The signing was achieved after months of negotiations between the companies involved as well as the governments of Malaysia and China, said the Prime Minister’s Office (PMO).

“We are pleased to announce that the construction cost of Phases 1 and 2 of the ECRL has now been reduced to RM44bil.

“This is a reduction of RM21.5bil from the original cost of RM65.5bil.


The supplementary agreement covers the engineering, procurement, construction and commissioning aspects of the ECRL, it added.

The PMO also said that further details of the improved deal will be made known at a press conference next Monday (April 15).

Prime Minister Tun Dr Mahathir Mohamad is expected to give the press conference.

According to earlier reports, Phase 1 of the 688km rail line will be from Klang Valley to Kuantan while Phase 2 will cover Kuantan to Kuala Terengganu.

The project’s Phase 3 will see the rail line connecting Kuala Terengganu to Kota Baru and Tumpat.

Refer from www.thestar.com.my