The movement control order (MCO) in Penang will remain intact tomorrow, with the conditional movement control order (CMCO) to be enforced from May 8 onwards, Penang Chief Minister Chow Kon Yeow announced today.

The Penang lawmaker said Penang will not enforce CMCO tomorrow as announced by the federal government, but will do it gradually.

“Only companies that are allowed to operate during the first, second and third phase of MCO are allowed to continue operations for the next four days from tomorrow,” he said in his Facebook live message today.

He said the state will only allow selected sectors to reopen starting May 8 under the CMCO, and finally other sectors on May 13.

“Therefore, the MCO is still strictly in force in Penang tomorrow,” he said.

Source: MalayMail.com

A proposed commercial development by Grand Eastern Realty & Development Sdn. Bhd. within Perai Free Industrial Zone. The project site is located along Jalan Nagasari, neighboring with several industrial factories. Juru Auto City and North-South Expressway are only five minutes’ drive away.

This development will feature 16 units of road fronting 2-storey shop offices. However, no launch date has been announced yet.

More details to be available upon official launch.

Project Name: (to be confirmed)
Location : Perai
Property Type : Shop Offices
Total Units : 16
Land Tenure : (to be confirmed)
Indicative Price : (to be confirmed)
Developer: Grand Eastern Realty & Development Sdn. Bhd.

Location Map:

 

Almost all economic sectors and business activities will be allowed to resume business, subject to conditions and standard operating procedure, starting May 4, announces the Prime Minister.

Tan Sri Muhyiddin Yassin said the decision is made following advice from the Health Ministry and after lengthy discussions during the Economic Action Council, National Security Council and Cabinet Meeting.

“I am saying almost all because there will be industries and businesses that will not be allowed to operate. These are businesses that involves the presence of a lot of people where body contact and social distancing will be difficult to exercise,” he said in a special address on Friday (May 1).

The full list of businesses and activities that will not be allowed can be obtained at the National Security Council website.

The full list of businesses and activities that will not be allowed

The Prime Minister said that the government has clear and definite plans to fight Covid-19 and tackle the economic crisis with six strategies, including the resolve to control the infection.

He said the government has built economic resilience through the Prihatin economic stimulus package and with plans to restart the economy, systematically.

“The government will put in place an economic recovery strategy in facing the new normal.

“We will also revitalise the economy and reform the economic structure that will allow all of you to step into a new era,” he said.

Muhyiddin said with the first two approaches, namely resolution to fight Covid19 and the economic stimulus package done, the government is ready to restart the economy.

“We will implement conditional movement control order (MCO) where most economic and social activities will be allowed.

“However, activities that involve mass gathering and exposing the public to the risk of being infected with Covid-19 will still not be allowed.

“We will also enforce the enhanced MCO in areas where the number of Covid-19 positive cases are high,” he said.

The Prime Minister is aware that after two months of undergoing MCO, many are eager to go back to work and for traders to restart their business as livelihood is affected.

“At the same time, many are also concerned that if the order is lifted, there is a possibility of a new outbreak.

“I know you are worried. I am too. We must find a way to balance the need for the economy to recover and the importance to contain Covid-19,” he said.

Muhyiddin added that the nation was losing about RM2.4bil daily during MCO, with total losses so far estimated at about RM63bil.

Source: TheStar.com.my

The Malaysian property market is expected to remain resilient despite the economic headwinds this year due to COVID-19, with affordable housing and finding the right solutions to the property overhang continuing to be the main agenda of the government.

Valuation and Property Services Department Malaysia (JPPH) in a statement today said the close monitoring of the implementation of programmes under the National Housing Policy 2.0 (2018 – 2025) and various incentives introduced to promote home ownership among Malaysians are expected to contain the overhang situation in the coming year.

“As Bank Negara Malaysia expects the Malaysian economy to rebound in 2021, in tandem with projected global recovery, the property market is anticipated to move in similar trajectory.

“JPPH Malaysia will continue to monitor and evaluate the expected impact of the pandemic on the Malaysian property market and provide advisory to the government in ensuring that the market remains sustainable,” it said in conjunction with the launch of nine reports, including Malaysia Property Market 2019.

JPPH said there may be high near-term downside risks resulting from the unforeseeable outbreak of COVID-19 worldwide, which may dampen the anticipated economic growth, particularly for the first half year of 2020.

It said the globally-affected outbreak is expected to take its toll on the world economies and the Malaysian economy, in particular tourism-related sectors such as airlines, retail, food and beverage and hospitality; as well as the manufacturing and selected services sectors.

“The magnitude of the impact on the Malaysian economy would depend on the duration and spread of the outbreak not only in Malaysia but also in other countries, especially those that are Malaysia’s major trading partners.

“Many incentives are given by the government in the effort to cushion the impact on the property market. However, given the challenging market coupled with the downside in consumer and business community confidence, market activity and market absorption are likely to be slow,” it said.

The other reports launched by JPPH today include Property Stock Report 2019, Property Market Status Report 2019, Malaysian House Price Index 2019, Commercial Space Availability Report 2019, Purpose-Built Office Rental Index (PBO-RI) Klang Valley, Johor Bahru & George Town 2019, Residential Prices Quarterly/ Yearly Update 2019, RM10 Million Transaction Property Deals Volume 16 and Estate Land Sales Report Volume 26.

The reports indicate that the property market recorded a marginal improvement, with a total of 328,647 transactions worth RM141.40 billion recorded in 2019, 4.8 per cent higher in volume and 0.8 per cent higher in value compared with 2018, which recorded 313,710 transactions worth RM140.33 billion.

“Sectoral market activity performance improved marginally – residential (6.0 per cent), commercial (7.2 per cent), industrial (3.8 per cent) and agricultural (2.0 per cent) with the exception of the development land sub-sector, which declined slightly by 1.2 per cent.

“The residential sub-sector led the overall property market, with a 63.7 per cent contribution,” it added.

Source: Bernama

Plenitude Bhd is closing the operations of three hotels, namely Mercure Penang Beach and The Gurney Resort Hotel and Residences, both in Penang, and Travelodge Ipoh, Perak with immediate effect, and downsizing operations in the other hotels owned by it.

This decision is a direct result of the Covid-19 pandemic which had severely impacted the company’s hospitality businesses, Plenitude said in a filing to Bursa Malaysia here, yesterday.

“With domestic and worldwide travel restrictions, the company’s hotels have suffered a significant decrease of business and the company has no alternative but to downsize its business and operations.

“The company’s management is closely monitoring the situation and taking all necessary precautions to ensure safety of guests and staff,” it added.

Source: EdgeProp.my