Share This

Showing posts with label Penang. Show all posts
Showing posts with label Penang. Show all posts

Thursday 4 March 2021

Virus looms large in Penang; Foreign worker tests behind rise in factory clusters

Virus looms large in Penang 

In the final week of February, Penang saw 922 new cases.

PENANG’S Covid-19 infectivity or R0 stood at 1.01 on the last day of February, compared with the national average R0 of 0.91, said Chief Minister Chow Kon Yeow.

R0 – pronounced R-naught – is an indicator showing how contagious a disease is.

Chow said in the final week of February, between Feb 21 and 27, Penang saw 922 new cases.

Out of this, 574 cases (62.25%) were locals and 348 (37.74%) comprised foreigners.

“A total of 16,180 Covid-19 tests were done throughout that week by various health facilities under the supervision of state Health Department.

“The majority of screenings were focused on close contacts of positive patients, screening at workplaces in factories as well as construction sites, and symptomatic screenings.

“For the screening of foreigners either registered under Socso’s Prihatin Screening Programme or under employers’ initiatives in manufacturing and construction, the state Health Department reported that as of Feb 28,68,939 people had undergone screening and 2,435 positive cases were detected, ” he said in a statement after attending a National Security Council (NSC) virtual meeting on the management of Covid-19 chaired by Prime Minister Tan Sri Muhyiddin Yassin on Monday.

Chow added that the current approach was aspect-based public health as well as vaccinations.

“The Health Ministry as well as Energy, Science, Technology and Innovation Ministry are urged to continue to move in tandem with the Covid-19 Immunisation Task Force (CITF), which was specially established at the state level.

“In Penang, phase one of the National Covid-19 Immunisation Programme has been running smoothly in every district.

“Our frontliners will always remain the priority as a commitment and principle held by the state government over the years.

“Let us all together make the vaccination programme a success, which is important to revive the growth of the economy in the state, ” he said.

Chow said in the NSC meeting, the technical committee was asked to examine the standard operating procedures of the tourism sector.

Source link

 

Factory clusters made up about 60% of newly-detected workplace infections in the past fortnight.


Manufacturers attribute this to more tests which resulted in a steady rise in workplace clusters as the screenings were able to pick up more cases among workers. 

Covid-19 screenings for foreign workers that ended in February have been attributed to factories making up about 60% of new workplace clusters, says the Federation of Malaysian Manufacturers (FMM).

Its president Tan Sri Soh Thian Lai said one possible reason for the increase in workplace clusters was the rise in community transmission, especially after the start of the third wave of the virus last year.

“Covid-19 is already within the community with 89% of patients being asymptomatic or showing mild symptoms.

“This is despite the government’s efforts to mitigate the spread of the virus and industries implementing the necessary standard operating procedure and precautionary measures,” he said when citing a media report in December.

Soh added that it was then made mandatory for foreign workers to undergo Covid-19 screenings, effective last December.

“The mandatory screenings were conducted in phases until Feb 28.

“As a result, we have seen a steady rise in workplace clusters as the screenings were able to pick up more cases among workers, especially those who were asymptomatic,” he said.

Based on Health Ministry data from Feb 13 to 28, factories contributed to 92 out of 146 new workplace clusters (63%) that emerged in the last couple of weeks.

This is an increase from the period between Jan 28 and Feb 12, where 49% of new workplace clusters were located in factories.

Other notable workplace clusters from Feb 13 to Feb 28 were construction sites (12%), markets and restaurants (8%), public administrative centres (3%) and educational institutions (2%).

Even when including non-workplace clusters such as community clusters, factories still made up 52% of the clusters.

Among the factory clusters, about 47% were located in Johor, while Selangor and Penang made up 34% and 7% respectively.

Soh said FMM had reminded its members to implement proactive measures to prevent Covid-19 outbreaks at the workplace and at workers’ living quarters.

“Among the measures are paying greater attention to workers’ hostels and housing, ensuring compliance with strict SOP, including the requirement for physical distancing in the living environment and imposing such requirements on sub-contract workers.

“We limited the capacity of vehicles or buses ferrying workers to 50% or less to ensure physical distancing.

“We implemented measures such as working in rotations or relocating staff to minimise closure of entire sections. We also appointed a senior management member of the company to oversee SOP compliance at the workplace,” he said.

However, Soh said there had been difficulty in monitoring and controlling the activities of employees outside the workplace.

Complying with housing standards for workers also proved a challenge as there was acute shortage of accommodation space, he added.

“There is also a lack of centralised living quarters to house workers, and it has been challenging to get approvals from the local councils for the use and conversion of shoplots as accommodation,” he said.

Soh said there were also strong objections from resident associations and joint management bodies when trying to house workers in residential areas.


Scientist suggests a more effective approach to COVID-19 ...

Monday 7 December 2020

Conditional movement control order (CMCO) ends on December 6 in several states including Penang, Tranel bans rescinded

 

.
The government has just announced in a live conference that CMCO will end in Penang as scheduled, which is 6 December 2020. This is with an exception of two Mukim, which is Mukim 12 in Barat Daya and Mukim 13 in Timur Laut. CMCO will extend in these two Mukim until 20 December 2020.

Following the reduction of COVID-19 infection cases in several states, the government today decided to end the Conditional Movement Control Order (CMCO) in most states.

Senior Minister (Security Cluster) Datuk Seri Ismail Sabri Yaakob said the move was done after considering the current and expected impact on the economic recovery if CMCO is extended.

“The country is expected to suffer a GDP loss of RM300 million a day if CMCO is continued and this will result in a decline in the labour market and household spending, investment uncertainty, permanent job loss, business closure and other effects either directly or indirectly.

"Therefore, the government needs to consider all aspects in formulating any approach to create a balance between maintaining public health and impact on the economy," he told a press conference here today.

The CMCO in the following states would be lifted as scheduled tomorrow:

Penang except for Mukim 12 (southwest), Mukim 13 (northeast), while Flat Jalan Paya Terubong, Relau and Flat Desa Bistari, Batu Uban will be placed under enhanced MCO (EMCO) from Dec 7 to 20.

Perak except for Kinta district, Mukim Teja (Kampar district) and Mukim Changkat Jong (Hilir Perak district) where the CMCO will continue starting Dec 7 until 20, while the EMCO in Zone B and Zone C of Taman Meru 2C, Ipoh, Perak will end today. Langkap Immigration Detention Depot and its quarters in Hilir Perak will be placed under EMCO from Dec 6 to 19.

Kelantan except for Kota Bharu, Machang, Tanah Merah and Pasir Mas where the CMCO will be extended from Dec 7 to 20, while Madrasah Ad-Diniah Al Falahiah, Kg Dalam Huma, Bukit Awang, Pasir Puteh will be placed under EMCO for the same period.

Putrajaya Negeri Sembilan except for Seremban and Port Dickson where the CMCO will be extended until Dec 20.

Meanwhile, the CMCO for Kuala Lumpur and Selangor will be extended until Dec 20 following the increase in COVID-19 cases, except for Sabak Bernam, Hulu Selangor and Kuala Selangor which will return to the Recovery MCO (RMCO).

At the same time, he said the CMCO in Kulim, Kedah which is supposed to end tomorrow will be extended until Dec 20 as there are 334 positive cases for its cluster.

In Johor, the CMCO in Mersing will be lifted tomorrow as scheduled, while the CMCO in Kota Tinggi will be extended until Dec 20 and three districts namely Johor Bahru, Batu Pahat and Kulai will be placed under CMCO from Dec 7 to 20. --- BERNAMA

Travel bans rescinded


 

Ismail Sabri: Police permission no longer needed for journeys


PETALING JAYA: The interstate and inter-district travel bans have been rescinded, regardless of whether an area is still under the conditional movement control order (MCO) or not, says Senior Minister Datuk Seri Ismail Sabri Yaakob.

He said the decision was made due to the need to balance public health and economic stability.

“Life must go on. So several restrictions have been relaxed after the National Security Council meeting where all parties, including the Health Ministry, discussed the issue.

“Among the matters agreed on is that interstate and inter-district travel across the country will now be allowed except for areas under an enhanced MCO.

“Police permission is no longer required,” he said.

He added that from tomorrow, the police would stop having roadblocks at state borders.

The focus will now be on adherence to the standard operating procedure (SOP), Ismail Sabri said.

“What’s important is that the public must follow the SOP. This is one of the ways to reduce Covid-19 infections.

“The police will be everywhere now to ensure compliance,” he said.

On tourism, Ismail Sabri said a meeting would be held with the Tourism, Arts and Culture Ministry to identify what would be permitted to open and what should remain closed.

He also noted that travel to Sabah would now be allowed for social visits.

However, all entering Sabah must undergo the RT-PCR (reverse transcription-polymerase chain reaction) or RTK Antigen (Rapid Test Kit Antigen) Covid-19 swabs three days before travelling.

“Only those without symptoms and who test negative for Covid-19 will be allowed into Sabah.

“Police permission to leave Sabah and inter-district travel is no longer required,” he added. 

Source link

Related:


Cheers all around as Penang opens its arms to visitors

 Come visit us: Penang eager to see an increase in visitors to the island this coming holiday season with the interstate and inter-district travel ban being lifted.

 

Govt to discuss working from home, tourism on Sunday...

 Govt to discuss working from home, tourism on Sunday (Dec 6), says Ismail Sabri

 
  Related posts:

 

CMCO announced in 6 more states: Kedah, Penang, Perak, Melaka, Johor and Terengganu

 

Covid-19 CMCO: daycare centres SOP. One-off grant of RM5,000 for childcare centres

 

Registered childcare centres can stay open during the conditional movement control order (CMCO)

 

 



Monday 23 November 2020

Registered childcare centres can stay open during the conditional movement control order (CMCO)

 

Children being looked after at a nursery in Komtar. — Filepic

REGISTERED childcare centres and nurseries caring for the children of frontliners and working parents are allowed to operate during the conditional movement control order (MCO) period.

However, the childcare centres and nurseries need to adhere fully to the standard operating procedure.

Penang welfare committee chairman Phee Boon Poh said the requirements included ensuring that the centres were registered with the state Welfare Department.

“The centres need to obtain permission from the state Welfare Department director and submit verification letters from the employers of the parents or guardians confirming that the affected parent or guardian needs to work.

“They also need to adhere to the SOP for taska safety and the social care sector as directed by the Women, Family and Community Development Ministry,” he said in a statement on Thursday.

Phee added that unregistered childcare centres and nurseries looking to obtain permission to operate would not be considered.

“This is in line with the operating permission for childcare centres and nurseries during the conditional MCO period under the Prevention and Control of Infectious Diseases Act 1988 (Act 342).

“Childcare centres under technical agencies including state authorities, the Fire and Rescue Department as well as the Health Department need to fulfill requirements under these agencies for licences to be issued.

“Then the centres can put forward their applications to the Welfare Department for registration.

“Under the district Welfare Department office, all completed and submitted applications will be processed within 48 hours.”

For more details or a list of the registered childcare centres, the public may visit www.jkm.gov.my

 Source link

 

Govt to formulate operational SOP for kindergartens, childcare centres


 

https://youtu.be/LPk3LhEGts8

120 childcare centres in Penang resume ... - BERNAMA


Related posts:

 

Malaysia needs more childcare & daycare centres

May 24, 2016 ... Chris Hong, who runs two kindergartens-cum-daycare centres in Subang Jaya, said she and her staff looked after 40 to 50 children from 8am to ...



 

Covid-19 CMCO: daycare centres SOP. One-off grant of RM5,000 for childcare centres

Sunday 8 November 2020

CMCO announced in 6 more states: Kedah, Penang, Perak, Melaka, Johor and Terengganu


Senior Minister for Security Ismail Sabri Yaakob said only Perlis, Pahang and Kelantan are exempted from the CMCO

New Covid-19 cases at its highest 


PETALING JAYA: The government has announced a month-long conditional movement control order (CMCO) in Kedah, Penang, Perak, Melaka, Johor and Terengganu from Monday due to the rising number of Covid-19 cases in the states.

The CMCO will end on Dec 6.

“It will be for all states in Peninsular Malaysia, except for Perlis, Pahang and Kelantan,” said Senior Minister for Security Ismail Sabri Yaakob at a press conference today.

“The implementation of the CMCO is to allow the health ministry to conduct targeted screenings and to decrease movement in the community, in addition to curbing the spread of Covid-19 in these states.”

The rules under the CMCO are as follows:

  • inter-state and inter-district travel is prohibited, except for emergency cases, in which case a travel permit by the police is required and all workers must either show their employee pass or a letter from their companies;
  • only two members of a household may leave the house to buy necessities;
  •  all schools, higher education institutions, training institutes, kindergartens, childcare centres, public parks and recreational centres will be closed;
  • activities in the economic, industrial and trade sectors would be allowed to operate as usual;

  •  all forms of public transport, such as buses, taxis and e-hailing services, with a maximum of two passengers, are allowed to operate from 6am to midnight;

  • daily markets are allowed to open from 6am to 2pm, while wholesale markets may operate from 4am to 2pm, and night markets from 4pm to 10pm;

  • petrol stations may operate from 6am to 10pm but those located along highways may operate 24 hours;

  • clinics and public hospitals will be allowed to open for 24 hours while pharmacies and medicine stores may operate from 8am to 11pm;

  • fishing, farming and the agriculture sectors may operate as usual; and;

  • all social gatherings, including weddings, and entertainment activities, are not allowed.


Ismail also said all religious activities in mosques will be decided by the state religious authorities, adding that further details may be found on the National Security Council’s (MKN) website.

Meanwhile, Ismail announced that the Maahad Al-Yahyawiah government-aided religious school in Padang Rengas, Kuala Kangsar, Perak, will be placed under the enhanced MCO from tomorrow until Nov 21.

He said the decision was made after 27 positive cases were detected in the area on Nov 5.

He added that the health ministry would continue conducting targeted screenings on a total of 123 students and 11 staff members at the school.

 CLICK HERE FOR THE LATEST DATA ON THE COVID-19 SITUATION IN MALAYSIA

 

Source link

 

Related post:

 

New Covid-19 cases at its highest  PETALING JAYA: Finance Minister Datuk Seri Tengku Zafrul Abdul Aziz is p...
 
 
Others:
 
 

What Is PCR Testing for COVID-19?

</p>

Saturday 26 September 2020

RM10bil more aid for the people


Govt introduces special assistance 'Kita Prihatin' package 
The Perikatan Nasional government has introduced a special assistance initiative package known as 'Kita Prihatin'.

In a special address on national television on Wednesday, Prime Minister Tan Sri Muhyiddin Yassin said the Prihatin economic stimulus package involves RM295bil or 20% of the GDP.

ETALING JAYA: The government has introduced several new initiatives worth RM10bil to help people weather the effects of the Covid-19 pandemic. 

The Kita Prihatin package is an additional stimulus to previous government initiatives such as the RM35bil Pelan Jana Semula Ekonomi Negara (Penjana) announced in June and the RM260bil Prihatin package in March.

Prime Minister Tan Sri Muhyiddin Yassin said while the figures showed that there was economic recovery, new initiatives were needed as many were still facing difficulties.

He said the Wage Subsidy Programme 2.0 was targeted at firms seeing a drop in revenue of up to 30% compared to last year since the recovery movement control order (MCO).

A wage subsidy of RM600 monthly will be given to a maximum of 200 employees each for three months, with applications to be open from Oct 1 until Dec 31 this year.

The Prime Minister said he received feedback that many companies were not eligible for the scheme because they had not registered with the Social Security Organisation (Socso) before April 1.

He said to ensure they were not left behind, the second scheme would be open to companies that registered with Socso before Aug 31.

“For new applications that did not receive assistance under the Wage Subsidy Scheme programme, they will be eligible for subsidies for up to six months, ” he said yesterday in a special address to announce the initiatives.

He said the implementation of the programme was expected to benefit 1.3 million workers with an allocation of RM2.4bil.

Muhyiddin also announced a Special Prihatin Grant (GKP) to help micro businesses that were facing financial difficulties because of the pandemic.

He said it would be open to business owners registered with the Companies Commission of Malaysia or with local authorities before Aug 31, with payments to be made from Nov 25.

“The reopening of this initiative is expected to benefit over 200,000 micro businesses, with an allocation of almost RM600mil, ” he said.

Another RM7bil in cash aid under Bantuan Prihatin Nasional (BPN) 2.0 would be channelled to 10.6 million recipients, said Muhyiddin.

He said RM1,000 would be given to 3.7 million families in the B40 category, RM500 to 3.8 million single folk in the B40 group, RM600 to 1.4 million M40 families, and RM300 to 1.7 million singles in the M40 group.

The payments will be made in two batches – at the end of October this year and in January next year.

“There will be no need to apply for BPN 2.0. The government will channel aid directly to the 10.6 million recipients who were approved previously.

“To those who are eligible but never received BPN, the government will give them a chance to appeal and submit new applications.

“I hope that with this additional assistance, you can breathe a sigh of relief in covering the daily expenses for you and your family, ” he said.

Muhyiddin also appealed to the public to reject the actions of several politicians whom he claimed wanted to undermine the political stability and the nation’s ongoing economic recovery plan.

He said the country needed a stable and strong government with the support of the public.

“This is important so that more initiatives to restore the economy and help the people can be implemented effectively by the government, ” he said.

  Source link

 

Frequently Asked Questions (FAQ) on Bantuan Prihatin ...

Frequently Asked Questions (FAQ) on Bantuan Prihatin Nasional (BPN) 2.0 


 

Q What is BPN 2.0?

A It is an extra aid provided by the Government for the B40 and M40 to reduce their financial burden due to the Covid-19 pandemic. The issuance of BPN 2.0 is based on the BPN 2020 database comprising a list of 10.6 million previously approved recipients.

Q Who is eligible to receive BPN 2.0?

A BPN 2.0 recipients will be those who previously received the last payment of BPN 2020. 

Q Do I need to apply for BPN 2.0?

A You do not need to apply for BPN 2.0 if you have previously received the last payment of BPN 2020.

Q Can I submit a new application if I have not been listed as a recipient of BPN 2.0?

A New applications for BPN 2.0 can be made starting Oct 15, 2020.

B. Payment of BPN 2.0

Q How much is the payout that will be given for BPN 2.0?

A The amount of payout will be as follows:

> B40 household earning less than RM4,000:

First phase=RM700; Second phase=RM300; Total=RM1,000 >

M40 household earning between RM4,001 and RM8,000:

First phase=RM400; Second phase=RM200; Total=RM600

> B40 singles earning less than RM2,000:

First phase=RM350; Second phase=RM150; Total=RM500

> M40 singles earning between RM2,001 and RM4,000:

First phase=RM200; Second phase=RM100; Total=RM300

Q When will BPN 2.0 payouts be made?

A First phase will be at the end of October 2020. Second phase will be in January 2021.

Q How will BPN 2.0 payouts be made?

A i. Those with active bank accounts - the payment will be credited into the account number listed in the BPN 2020 database.

ii. Those with inactive or closed bank accounts - claim the cash at a Bank Simpanan Nasional (BSN) branch.

iii. Those with no bank accounts - claim the cash at a BSN branch.

Q How will BSN 2.0 payouts be made for recipients in the interiors of Sabah and Sarawak?

Payments for recipients with no bank accounts living in the interiors of Sabah and Sarawak will start in January 2021.

Q Can I update my personal details such as my bank account that is no longer active?

A Updating bank account information is not allowed because the payment method for BPN 2.0 will be the same as the payment method of the previous BPN 2020 (refer to the answer for question 7).

Q If the payout was made to an inactive or incorrect bank account, what should I do?

A You can claim the cash at a BSN branch after the serial number has appeared. You can check your application status via the official BPN portal at https://bpn.hasil.gov.my

C. Status check

Q When and how can I check my application status for BPN 2.0?

A Recipients who are eligible to receive BPN 2.0 can check their status starting Oct 15 via the official portal at https://bpn. hasil.gov.my

Q What should I do if I forget my password to log into the portal and what if I fail to answer the security question?

A You need to wait for 10 minutes before attempting to answer the security question again. If you still fail to answer, you can contact the Hasil Care Line (HCL) at 03- 89111000 to reset your account and security question or contact the nearest IRB branch.

D. Other matters

Q Based on my status check, I was approved as a recipient in the M40 category for BPN 2020. Can I appeal to be a recipient in the B40 category for BPN 2.0?

A The BPN 2.0 qualification category is based on the final approval for BPN 2020.

Q I was a BPN 2020 recipient under the singles category but I am now married. Am I eligible to receive BPN 2.0 under the household category?

A You can submit a new application or appeal starting Oct 15, 2020 under the household category if you meet all the criteria.

Q I was married to a BPN 2020 recipient under the household category but I am now divorced. Am I eligible to receive BPN 2.0 under the single mother or father category?

A You can submit a new application/appeal starting Oct 15, 2020 under the single mother or father category if you meet all the criteria.

Q I am single and will turn 21 years old in 2021. If I am not yet 21 years old at the time that the application opens up, am I eligible to apply?

A Those born in 1999 or before are eligible to apply.

Q I received BPN 2020 previously and now wish to reject BPN 2.0. How can I return the cash aid?

A You can do the following: i. Submit a letter to the Finance Ministry stating your full name, MyKad number and reason for returning the cash aid.

ii. Come up with a bank draft or cheque addressed to the Accountant General of Malaysia according to the amount being returned.

iii. The letter and bank draft or cheque must then be submitted to the Finance Ministry at the following address:

Pejabat Belanjawan Negara, Kementerian Kewangan Malaysia, Presint 2, 62592 Putrajaya. 


 

Related post:

 Stimulus packages avert 1930s-style depression but cannot prevent business closures, save jobs as supply-demand dynamics collapse

 

Malaysia’s recovery movement control order (RMCO) extended until Dec 31,tourists still not allowed in

 

Malaysian Movement Control Order (MCO) enters the fourth phase

 

Wednesday 16 September 2020

All steady on the home front in Penang residential properties

Sales done: According to Knight Frank Malaysia, there are pockets of success by some developers reporting bookings and sales for their affordable homes during the movement control order period despite the fact that physical viewings were disallowed.

DEMAND for residential properties in Penang is expected to remain steady during the second half of 2020, especially if the homes are from renowned developers with good quality products.

Knight Frank Malaysia executive director Mark Saw says there are pockets of success by some developers reporting bookings and sales for their affordable homes during the movement control order (MCO) period (from March 18 to May 3), despite the fact that physical viewings were disallowed.

“In this challenging environment, developers with a strong brand name and good delivery of quality products should still achieve decent returns and the gap between higher and lower quality properties will become more evident with better sales for those able to deliver.

“These factors will play a critical role in determining the success of developments. It has become a buyer’s market and many deals are being offered by developers to attract first-time buyers as opposed to investors who have been temporarily sidelined, ” he tells StarBizWeek.

Due to the Covid-19 pandemic, Saw says buyers’ preferences and timings may change, with decisions being put on hold due to job security, ample choices and rentals being more competitive.

CBRE|WTW director Peh Seng Yee says the pandemic’s impact has been softened in the second half of the year with the recovery MCO (which was implemented from June 10).

CBRE|WTW director Peh Seng Yee says the pandemic’s impact has been softened in the second half of the year with the recovery MCO (which was implemented from June 10).CBRE|WTW director Peh Seng Yee says the pandemic’s impact has been softened in the second half of the year with the recovery MCO (which was implemented from June 10).

“As housing is a necessity and with the bank loan moratorium, the residential property sector has been cushioned from the worst impact.

“Hence, the residential market is expected to remain resilient for the second half of 2020. Significant growth is not expected yet as the issue of property overhang, lack of spending confidence by consumers and stringent lending policies by banks are expected to still linger for the remainder of the year.”

Additionally, both Saw and Peh agree that the reintroduction of the Home Ownership Campaign (HOC) was a much-needed boost to the local property market. The government reintroduced the HOC in June under the Short-Term Economic Recovery Plan (Penjana).

Mark Saw: In this challenging environment, developers with a strong brand name and good delivery of quality products should still achieve decent returns and the gap between higher and lower quality properties will become more evident with better sales for those able to deliver. 
Mark Saw: In this challenging environment, developers with a strong brand name and good delivery of quality products should still achieve decent returns and the gap between higher and lower quality properties will become more evident with better sales for those able to deliver.

Peh says the HOC is expected to continue to spur the buying momentum for residential properties in Penang over the short term.

“Developers are experiencing a pick-up in bookings by buyers compared with the first half of 2020, which was mainly affected by the MCO.

“However, the encouraging bookings have yet to be fully translated into good actual sales, due largely to stringent lending policies by the bank and the challenges and uncertainty in the economy and job market.”

Saw also believes the HOC will be a short-term reprieve for the local property market.

“The HOC initiatives will only be a temporary measure. For the long term, developers should carry out proper feasibility studies to determine the marketability of their products before commencing developments and ending up with unsold units.”

According to Saw, the volume of residential transactions in Penang decreased 19.7% to 2,748 units in the first quarter of 2020 compared with 3,422 units in the fourth quarter of 2019.

“The value of transactions in the residential sub-sector during the first quarter (RM1.06bil) indicated a drop of 17.2% compared with RM1.28bil in the fourth quarter of last year, ” he says.

Under the HOC, stamp duty exemption will be provided on the transfer of property and loan agreement for the purchase of houses priced between RM300,000 and RM2.5mil.

Meanwhile, the exemption on the instrument of transfer under the HOC is limited to the first RM1mil of the home price, while full stamp-duty exemption is given on loan agreement effective for sales and purchase agreements signed between June 1 and May 31,2021.

The government has also announced real property gains tax (RGPT) exemption for Malaysians for the disposal of up to three properties between June 1,2020 and Dec 31,2021.

The HOC was kicked off in last January to address the overhang problem in the country. The campaign, which was initially intended for six months, was extended for a year.

It proved successful, generating total sales of RM23.2bil in 2019, surpassing the government’s initial target of RM17bil.

Meanwhile, Knight Frank in its Real Estate Highlights Research for the first half of 2020 says that amid the current global recession, Invest Penang has revised downwards its foreign direct investment (FDI) target for 2020 to RM5mil.

“This will be supported by the shift towards Industry 4.0 and the various tax incentives and reinvestment allowances as announced under Penjana that seeks to promote Malaysia as a choice destination for FDIs.”

To clear RM2.6bil worth of 3,043 overhang units in the state, Knight Frank says the Penang local government, housing, town and country planning committee has announced that the state will reduce the minimum price threshold for foreign property ownership by up to 40% starting from June 11,2020.

“Ceiling prices for stratified properties on the island will be reduced by up to 20% from RM1mil to RM800,000 and on the mainland, from RM500,000 to RM400,000.”

In the high-end condominium segment, Knight Frank says IJM Perennial has put on hold the development of The Light City.

“Prior to the Covid-19 pandemic, the group had indicated that it would resume development in August 2020. To be developed over a period of more than four years, Phase 1 will feature a mall with 680,000 sq ft net lettable area, the Penang Waterfront Convention Centre, a four-star hotel with 500 rooms, offices and the ‘Mezzo’ residential condominiums.

“Meanwhile, for Phase 2, there are plans for a 300,000-sq-ft mall, a five-star hotel with 250 rooms, offices, the ‘Essence’ residential condominiums and possibly an experiential theme park. It is worth noting that the commencement of Phase 2 will be determined by the sales of the Mezzo condominiums and the occupancy of the mall.”

As for the office sub-sector in Penang, Knight Frank says the average occupancy rate for four prime buildings monitored in George Town remained stable at 89%.

“According to the latest National Property Information Centre report, the average occupancy rate in the state continued to hold steady at 81.4% in the first quarter of 2020 (compared with 81.3% in the fourth quarter of 2019).”

 Source link

Related posts:

Young buyers flock to property market

 

It’s the right time to invest’ 


https://youtu.be/wT4fZ9IcR6c https://youtu.be/nzqy79-m8Z0 Extension for those in need | The Star Rapt attention: Laun...
( From left) Chow looking at the Penang NCER human capital graphic info. With him are John, state executive councillor Datuk Abdul Halim .

Do we still need an office?

Millennials now make up over a third of the workplace and overwhelmingly value flexibility in where, when and how to work. And top talent has been increasingly clustering in dense urban areas and has been unwilling to commute to suburban office parks

We found that data availability and transparency in the real estate sector is less than what we were used to when we were


Related news:


Potential new DIBS boon


PropertyGuru raises S$300mil to accelerate growth in SE Asia

Minister: Unsold high-end properties here to be offered to HK ...

Vacancy tax – timely solution to problem of property overhang


Insight - Solution sought for unsold high-end properties | The ...


Vacancy tax on back burner | The Star

EXCLUSIVE It's off!: Proposed tax on unsold property put on ..