The demand for property in Penang remains robust despite the economic downturn brought on by the Covid-19 pandemic and the movement control order (MCO) enforced to curb its spread.

International Read Estate Federation (FIABCI) president Michael Geh Thuan Peng said he is still receiving enquiries about property under the Malaysia My Second Home (MM2H) programme.

He also noted that banks have yet to let up on processing applications for home loans.

Nonetheless, he said, property players should note that the MCO has been in place for only six weeks.

“The market can still take a nosedive,” he warned in an interview with theSun last week. Nonetheless, he added, it has the capacity to rebound with time.

Geh was responding to a statement by state executive councillor in charge of housing Jagdeep Singh Deo and Penang is already working on a range of incentives for the real estate sector.

Jagdeep had said earlier that one of the options is to lower property prices across the board to stimulate the market.

However, Pulau Tikus assemblyman Chris Lee Chun Kit stressed that the state’s ultimate priority should be to save jobs and if that means lowering property prices, it should be done.

Source: TheSunDaily.my

 

There are no more active Covid-19 cases recorded in Penang.

The last two cases were reportedly discharged as of 12 noon today, according to statistics from State Health Department.

This is the first time Penang recorded zero cases while at the same time having zero patients admitted for Covid-19.

Today marks the eight day that Penang had last recorded any new cases, since the last two cases recorded on April 26.

Previously, Penang fell short by just few days to be declared as green state with two cases being recorded at Mukim 16 of Seberang Perai Utara district.

Cumulatively, Penang reported a total of 121 cases with one casualty who died on March 22.

Penang will implement the Penang Gradual Recovery Strategy (PGRS) which will reopen the industry in stages from May 8 to May 13.

 

Source: NST Online

 

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