Prime Minister Muhyiddin Yassin announced a six-month loan moratorium to all individual borrowers, whether from the B40, M40 or T20, as well as micro-entrepreneurs.

All Malaysians will now enjoy a six-month loan moratorium beginning next month, as part of the government’s latest round of stimulus packages in light of the Covid-19 pandemic.

He said those wanting to opt for the moratorium would still need to apply with their banks, but approval will be given automatically.

“There will be no more conditions, no checks whether or not you lost your jobs, and no need for any documentation to be furnished when applying.

“I hope this initiative will more or less assist individual borrowers and SMEs in managing their cash flow during these trying times.

“However, I would like to remind everyone to use this offer wisely, and if there is no pressing need, don’t increase your financial commitment.”

Application for the moratorium will open July 7.

Besides, Muhyiddin also announced a new incentive under the Employees Provident Fund (EPF) called i-Citra. Some 12.6 million Employees Provident Fund (EPF) members will be allowed to withdraw up to RM5,000 over a period of five months under the i-Citra facility. It will see some RM30 billion going into people’s hands to sustain their daily needs.

They will be allowed to withdraw RM1,000 per month for a five-month period.

Applications can be made through EPF’s online portal from July 15 onwards, with the first payments to be credited to applicants’ accounts in August.

Ferringhi Residence 2 at Batu Ferringhi has obtained CCC, and the units are ready to move in.

According to news reported by The Star, Mah Sing Group Bhd is targetting to launch more affordable properties in the Klang Valley and Johor with over RM3.6bil in gross development value (GDV) by the second half of this year. Given the focus is in the central region, there will be no new launches in Penang for this year.

Due to the Covid-19 pandemic and phase one of the National Recovery Plan, Mah Sing’s group chief executive officer Datuk Ho Hon Sang noted that some of Mah Sing’s property launches would be delayed.

“We are also reviewing our marketing strategy and the overall development plans for Penang, ” explained Ho, who is also Mah Sing Group’s executive director.

Having said that, the group is happy to announce that Ferringhi Residence 2 in Batu Ferringhi has obtained the certificate of compliance and completion (CCC) last December, and the units are ready for the buyers to move in.

Mah Sing Group is also targetting for its M Vista freehold condominium project in Bayan Lepas to obtain the CCC by the end of this year.

As for the central region, he pointed out that the group had over 5, 000 high-rise properties with an RM2.37bil value strategically located in Bangi, Cheras, Sentul, Rawang, and Johor Baru.

“These are affordable properties priced below RM1mil per unit. Some are priced from RM299, 000 onwards, while others from RM641, 000 to RM704, 000 per unit, ” he said.

The group also planned to launch over RM1.27bil worth of properties comprising landed houses, serviced suites and retail units from its recently acquired land bank in Sepang and Setapak.

In Bandar Baru Salak Tinggi in Sepang, Ho said, “We have a 100-acre land bank on which we plan to launch double-storey terraced houses with a GDV of RM656mil.

“We will register and launch the project in the final quarter of 2021.”

The development is surrounded by townships such as Kota Warisan, Bandar Baru Nilai, Dengkil, Putrajaya and Cyberjaya.

The project is also connected to Kuala Lumpur City Centre, Putrajaya and Cyberjaya via major highways such as the Elite Highway, North-South Expressway, Putrajaya Cyberjaya Expressway, Jalan Banting-KLIA and KLIA Extension Highway.

In Setapak, Mah Sing Group is poised to launch a mixed-development project comprising serviced suites and retail units with a GDV of RM618mil.

“We are targetting first-time home buyers and upgraders from matured neighbourhood areas such as Danau Kota, Desa Setapak, Setapak Jaya, Wangsa Maju, Taman Melati, Titiwangsa and Setiawangsa, ” he added.

Ho also noted that Mah Sing Group aimed to achieve a revenue of RM1.6bil for 2021, attributed by about 91% of properties priced below RM700, 000 per unit and 51% below RM500, 000 per unit.

“We have extended our sales momentum and achieved new property sales of approximately RM650mil in the first five months.

“This is after locking in property sales worth about RM400mil for the first quarter ended March 31, 2021.

“We are confident that our projects will continue attracting interest, primarily because of their strategic locations, affordable pricing, attractive packages and innovative designs, ” Ho added.

He also said Mah Sing would continue to maintain its healthy balance sheet with cash and bank balances and investment in short-term funds of about RM901.2mil as of March 31, 2021.

“With disciplined financial management and a healthy balance sheet, the group will continue with its selective land banking strategy for continuous growth, with Greater Kuala Lumpur and the Klang Valley being the focus areas, ” he said.

Source: TheStar.com.my

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The current movement control order (MCO 3.0) will not end as scheduled tomorrow (June 28).

This was announced by Prime Minister Tan Sri Muhyiddin Yassin who said the current lockdown, part of Phase 1 of the National Recovery Plan will continue until the threshold value is less than 4,000 Covid-19 cases a day.

He also said the government will announce more comprehensive assistance to all groups of society on Monday or Tuesday.

Source: NST Online

The first phase of the Swettenham Pier Cruise Terminal (SPCT) expansion project has been completed with the berthing area now bigger by about 30%.

Penang Port Commission (PPC) chairman Datuk Tan Teik Cheng said besides the solid deck wharf extended 220m towards north of the terminal, the breasting and mooring dolphin had increased by 50m and 68m.

“Phase 1A was completed on May 31 and is expected to obtain the certificate of completion and compliance (CCC) by the end of July.

“Two new link bridges will be constructed to connect the breasting and mooring dolphin.

“As a result of this extension, it will allow for the berthing of two Oasis class vessels at the same time.

“This will increase the wharf capacity to handle 12,000 passengers from the existing 8,000,” he said.

The RM155mil project is a federal initiative funded by Penang Port Sdn Bhd.

Three other phases involving preliminary upland and terminal improvement are set to be completed within the next five years.

“Phase 1B of the development in connection with the berth expansion is the narrowing of concourse and installation of gangways or boarding bridges to improve the berthing of vessels. This phase is expected to start in 2023 and be completed within a year.

“Phase 2 and 3 for terminal improvement will commence after the completion of Phase 1A and 1B.

“The proposed terminal improvement will involve the restructuring of the existing terminal to allow simultaneous flow and movement plus embarkation and disembarkation of passengers for the home porting cruise, port of call cruise and regional ferries.

“It was also proposed that the existing north side driveway be converted to two-way vehicular access linking to the apron and new annex.

“Construction is expected to start by 2024 and will take a year to complete,” he said.

Other aspects of the expansion including the refurbishment of the warehouses inside the PPC area will continue as preliminary work has already begun.

Cautious approaches on the development of the warehouses are taken due to their heritage value.

George Town World Heritage Incorporated will also be involved in the development comprising retail, culture and duty-free elements while maintaining its original heritage value.

The warehouses are set to be ready in 2022 with the development estimated to be around RM300mil.

PPSB, which was set up in 1994 under Finance Ministry Incorporated, has been operating SPCT via a management contract while PPC comes under the Transport Ministry, which is the licensing authority of the port.

Source: TheStar.com.my