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IN THE NEWS

MALAYSIA’S EXPORTS, IMPORTS DECLINE IN FEBRUARY 2019, TRADE SURPLUS SURGES TO RM11.1 BILLION In February 2019 Malaysia’s exports recorded a decrease of 5.3% year-on-year (y-o-y) to RM66.6 billion, the lowest value since August 2016. Total trade in February 2019 declined 7.2% to RM122.1 billion from February 2018. The trade surplus was RM11.1 billion, where it…

BANK NEGARA PROJECTS GDP GROWTH AT 4.3% TO 4.8% IN 2019 The Gross Domestic Product (GDP) is expected to expand by 4.3% to 4.8% in 2019, compared with 4.7% in 2018, driven by domestic demand amid the challenging global environment. Nonetheless, Bank Negara Malaysia cautioned that the domestic growth projection is subject to several downside…

MALAYSIA’S ECONOMY TO GROW 4.9% Malaysia’s economic growth forecast remains at 4.9% y-o-y for 2019 given the upbeat performance of domestic and external trade sectors. The domestic economy continues to be resilient as Bank Negara is expected to maintain the overnight policy rate at 3.25% in 2019, amid a 2.2% inflation forecast. Furthermore, a continuous…

HIGHLAND TOWERS TO BE DEMOLISHED BY JUNE 2019 The Highland Towers Condominium which has been left neglected for more than 25 years will be demolished by June 2019, according to the Malaysian Housing and Local Government Minister. The Highland Towers Redevelopment Committee has prepared a report regarding a study on the structure of the condominium…

AIRASIA X LAUNCHES KL – FUKUOKA, JAPAN ROUTE AirAsiaX has launched its direct inaugural flight between Kuala Lumpur and Fukuoka in Southern Japan, thereby providing over 156,000 seats per year on the new route. It is currently the only direct flight between Kuala Lumpur and Fukuoka and in 2019, AirAsiaX is planning to fly up…

MALAYSIA HITS DEFLATION FOR FIRST TIME SINCE 2009 GLOBAL CRISIS Malaysia’s economy swung into deflation in January 2019 for the first time since the aftermath of the global financial crisis in 2009 as fuel prices declined. Consumer prices declined 0.7% from a year ago after hovering below 1% in the previous seven months, according to…

KL’S LOWER PLOT RATIOS MAY DRIVE LAND PRICES DOWN The lower plot ratios for property developments under the newly-gazetted Kuala Lumpur City Plan 2020 (KLCP 2020) will likely drive down prices of development land in the capital as project densities and consequent profitability are reduced. (The Edge Property, 16/02/2019) PPR TENANTS CAN USE RENTAL PAYMENT…

DBKL REVISITS “INCREASED” PLOT RATIOS FOR DEVELOPMENTS IN KULA LUMPUR Property projects that were previously granted “Approval in Principle” with a higher plot ratio than what was permitted under the newly gazetted Kuala Lumpur City Plan 2020 (KLCP 2020), are required to seek fresh approvals from Kuala Lumpur City Hall (Dewan Bandaraya Kuala Lumpur, DBKL)….

CREST BUILDER CHANGES PROJECT PLAN Construction and engineering group, Crest Builder Holdings Bhd, is converting 17 floors of office space in its transport-oriented development (TOD) to mainly small offices, home offices (SoHos). The company will also reduce the size of a handful of larger-sized units of about 2,000 sq. ft. to overcome issues of affordability…

500,000 AFFORDABLE HOMES FOR PERAK STATE A total of 50,000 affordable homes will be constructed over the next five years in Perak. The Perak State Government has identified several areas in need of such housing projects, which include the Kinta Valley, Manjung, Kerian and Muallim districts. The government has currently signed a memorandum of understanding…

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