The implementation of the Movement Control Order (MCO) to curb the spread of the COVID-19 pandemic from March 18 to May 4 had undeniably posed numerous challenges to Joint Management Bodies (JMBs) and Management Corporations (MCs) of strata properties.

The biggest challenge was to manage the residents' expectations during the lockdown period. Communication was crucial as many did not understand that the things that they used to do in normal days were being prohibited, said Sri Penaga Condominium MC past chairman Khaw Chay Tee.

MC chairmen: Making strata residents understand SOPs was the main challenge during lockdown

PETALING JAYA: Despite the large overhang of properties in the Northern region, Kedah-based boutique developer Imperio Group believes the young population in Alor Setar, the capital city of Kedah, are still looking to own their own homes that meet their needs.

A founder and director of Imperio Group Lee Woei Nen said many units were left unsold, because the products failed to meet buyers’ needs.

Imperio Group to build Alor Setar’s first integrated development

Real estate in the United Kingdom is highly favoured among Malaysian property investors, driven by stable rental income and as accommodation for their children pursuing their studies in the UK.

Five reasons UK properties will remain popular after Brexit

PETALING JAYA: United Malayan Land Bhd’s (UMLand) newest addition to its Bandar Seri Alam township in Johor Bahru has achieved 80% take-up within a month, despite weak market sentiment.

UMLand group director of townships Wong Kuen Kong said Amber Heights Apartment has seen 96 out of 120 units in Phase 1 taken up in a month, after they were launched in November 2019.

UMLand to launch more Amber Heights apartments

PETALING JAYA (Jan 21): UDA Holdings Bhd may launch at least five residential projects targeting young urban income earners this year.

Company president and CEO Mohd Salem Kailany said UDA Holdings is planning around 1,000 residential units in Kuantan, Kuala Terengganu, Penang, Johor Bahru and Kuala Lumpur.

UDA Holdings to roll out homes targeted at young homebuyers

Country Garden Malaysia, the subsidiary of the Hong Kong-listed Country Garden Holdings Co Ltd, has laid off hundreds of staff since December 2019.

It is believed that as a result of the company’s recent restructuring exercise, close to 400 personnel were given the option to accept a severance package and leave within 48 hours, or leave their jobs and negotiate for compensation with the company’s lawyers later.

Country Garden Malaysia cut close to 400 jobs, more to come

KUALA LUMPUR: Country Garden Malaysia, the subsidiary of Hong Kong-listed Country Garden Holdings Co Ltd, has laid off hundreds of staff since December 2019.

It is said as a result of the company’s recent restructuring, nearly 400 personnel were given the option to accept a severance pa...

Country Garden Malaysia cuts close to 400 jobs

Guangdong-based property developer Country Garden Group has appointed Su Bai Yuan as regional president for Malaysia and Singapore, announced Country Garden Malaysia in a statement today.

Country Garden Malaysia appoints Su Bai Yuan as regional president

Country Garden Malaysia regional president Jason Fu has resigned from the subsidiary of Hong Kong-listed Country Garden Holdings Co Ltd, after four years and five months of helming its operations in Malaysia and Singapore.

Country Garden Malaysia regional president quits

From Feng Shui astrology perspective, this year will continue to be sluggish, so, folks, do reserve your cash, reduce debt and build your social network for future employment opportunities.

These pointers came from Mastery Academy of Chinese Metaphysics founder Datuk Joey Yap during today’s Joey Yap’s Feng Shui & Astrology Seminar 2020 which took place at the Malaysia International Trade and Exhibition Centre in Kuala Lumpur.

Keep cash, cut debt and enhance social network in the volatile Metal Rat year

KUALA LUMPUR (April 16): Here is a brief recap of some business news and corporate announcements that made the headlines on Tuesday:

MyEG, HeiTech Padu, Apex Healthcare, Globetronics Technology, Kossan Rubber, Tomei, GDEX, Serba Dinamik, Alpha IVF and Comfort Gloves

KUALA LUMPUR (April 16): The 14-year-old daughter of Lahad Datu police chief ACP Dzulbaharin Ismail was found dead in a pool of blood, in a room at her home in Taman Tabanak, Lahad Datu on Tuesday.

Teen daughter of Lahad Datu police chief found dead in pool of blood

KUALA LUMPUR (April 16): The Malaysian Investment Development Authority (Mida) plays an instrumental investment facilitator role in removing obstacles for prospective investors, said Investment, Trade and Industry (Miti) Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz.

Zafrul: Mida a vital instrument to remove obstacles for prospective investors

NEW YORK/BENGALURU (April 16): The Dow Jones Industrial Average outshone its peers on Tuesday, following upbeat results from health insurer UnitedHealth, while higher Treasury yields and conflict in the Middle East kept investors on edge.

Dow up on UnitedHealth boost; higher bond yields, Mideast tensions cap gains

KUALA LUMPUR (April 16): Comfort Gloves Bhd said two subsidiaries of the group have commenced legal action over an additional tax demand totalling RM99.3 million by the Inland Revenue Board (IRB).

Comfort Gloves’ units go to court over RM99 mil additional tax demand

Tesla Inc shares extended their decline for 2024, pushing the electric-vehicle (EV) maker’s market valuation below US$500 billion (RM2.40 trillion), as a round of job cuts this week further soured sentiment around the company.

Tesla’s value declines below US$500b as risks pile up

Federal Reserve (Fed) vice chair Philip Jefferson said he expects inflation to continue to moderate, with interest rates at their current level, but persistent price pressures would warrant holding borrowing costs high for longer.

Fed’s vice chair sees steady rate helping to push down inflation

The International Monetary Fund (IMF) inched up its expectations for global economic growth this year, citing strength in the US and some emerging markets, while warning the outlook remains cautious amid persistent inflation and geopolitical risks.

IMF lifts growth forecast for global economy but warns of risks

US industrial production rose for a second month in March, boosted by a larger-than-expected increase in factory output, as manufacturing showed further signs of stabilising.

US industrial production rises again on boost from manufacturing

NEW YORK/BENGALURU (April 16): Johnson & Johnson's (J&J) first quarter revenue missed Wall Street estimates on Tuesday, with sales of its blockbuster psoriasis drug Stelara coming in lower than expected, as the company prepares for its loss of exclusivity in the US.

J&J's first-quarter revenue misses as Stelara sales fall short

Datuk Abdul Rahman Ahmad will return to Permodalan Nasional Bhd (PNB) as its president and group chief executive effective July 1, 2024, the government-linked investment company said.

CIMB’s Abdul Rahman Ahmad returns to PNB as president, group chief executive

Analysts are positive on Malaysia’s pilot green power exports to Singapore using existing infrastructure in both countries, following establishment of the platform enabling cross-border trading of green electricity, the Energy Exchange Malaysia (Enegem).

Analysts positive on pilot green power exports to Singapore; name Tenaga, YTLP as top picks

CIMB Group Holdings Bhd, Malaysia’s second-biggest banking group by assets, said on Tuesday its chief executive Datuk Abdul Rahman Ahmad will step down on June 30.

CIMB says CEO Abdul Rahman Ahmad stepping down on June 30

The Ministry of Transport clarified on Tuesday that the higher contract value of RM190.01 million awarded to HeiTech Padu Bhd for Road Transport Department (JPJ) services was only due to a longer extended contract duration.

Loke: Higher contract value awarded to HeiTech Padu due to longer extended duration

Outsourced semiconductor assembly and testing (OSAT) player Globetronics Technology Bhd is in the final stages of discussion with two prospective clients interested in leveraging advanced packaging technology.

Globetronics in final talks with two potential customers for advanced packaging

Transport Minister Anthony Loke Siew Fook said his ministry has no objection to MMC Corp Bhd divesting a stake in MMC Port Holdings Sdn Bhd, including to foreign entities, as long as it does not contravene the government's policy that requires 51% ownership of major national assets to remain with local companies.

Loke says MMC Port free to sell stake to foreign firms, but govt has to be notified of shareholding changes

Former prime minister Tan Sri Muhyiddin Yassin has requested for a bench of five Court of Appeal (COA) judges to hear his review against the court’s own decision to reinstate abuse of power charges involving RM232.5 million against him.

Muhyiddin seeks five-judge bench to hear criminal charges review

European Commission President Ursula von der Leyen is unleashing a barrage of trade restrictions against China as she seeks to follow through on a pledge to make the EU a more relevant political player on the global stage.

EU goes on China trade offensive after getting ‘played’ 

Bursa Malaysia ended the morning session lower on Tuesday, in tandem with the weaker regional performance due to a broad sell-off on Wall Street overnight, said an analyst. &nbsp;

Bursa ends morning session lower along with regional peers

China’s rapidly expanding petrochemicals industry is making life increasingly difficult for producers in Asia’s next-biggest exporter of the building blocks for making plastics. 
&nbsp; 
Asia’s largest economy used to be the major market for South Korean companies like LG Chem Ltd and Lotte Chemical Corp. But the exporters of the chemicals used to make everything from nylon to disposable bottles and car interiors are now being forced to downsize their operations after a frenzy of petchem-plant building in China over the last few years created a supply glut. &nbsp;

China’s growing plastics dominance is squeezing out Asian rivals

EP Manufacturing Bhd's (EPMB) shares climbed on Tuesday and marked their best day in 10 months after the Shah-Alam based auto parts maker signed an assembly deal with a Chinese carmaker.

EP Manufacturing shares chart best day in 10 months after assembly deal

Gold is set to reach US$3,000 (RM14,381.71) an ounce over the next six to 18 months on increasing investor inflows amid expectations that the Federal Reserve will eventually cut interest rates, Citigroup Inc said, adding to a roll call of Wall Street banks that have raised forecasts.

Gold seen hitting US$3,000 at Citi as investor inflows juice rally

Practice Note 17 (PN17) company Serba Dinamik Holdings Bhd said it had been granted an extension of time until May 15 by Bursa Malaysia to submit its regularisation plan.

Bursa grants Serba Dinamik second extension of time until May 15 to submit regularisation plan

The Ministry of Investment, Trade and Industry (Miti) will draw up a comprehensive semiconductor strategic plan to ensure that Malaysia continues to be the chosen investment destination for this strategic industry, said Prime Minister Datuk Seri Anwar Ibrahim.

Anwar: Miti to draw up comprehensive semiconductor strategic plan

ISKANDAR PUTERI (April 16): The Johor government wants to develop a multi-tiered Automated Rapid Transit (ART) system in Johor Bahru to address traffic congestion in the city.

MB: Multi-tiered Automated Rapid Transit system planned to overcome Johor Bahru congestion

Workers in Singapore can now ask for four-day work weeks, more work-from-home days and staggered work timings starting from Dec 1, underscoring the global trend of governments and companies relaxing office arrangements in order to retain talent.

Singapore orders all employers to consider employees’ flexi-time requests

HSBC Holdings plc has started a new round of job cuts at its Asia investment bank amid a slump in dealmaking across the region, according to people familiar with the matter.

The London-based lender cut around a dozen bankers across its investment banking division in Asia on Tuesday, one of the people said, asking not to be identified discussing a private matter.&nbsp;

HSBC slashes a dozen investment bankers in Asia on deals slump

Bursa Malaysia ended lower for the second consecutive day on Tuesday, tracking the weak global sentiment due to the Middle East conflict, said an analyst. &nbsp;

Bursa closes lower, tracking weak global sentiment

Most central banks across Asia are likely to begin cutting interest rates later in the year — if at all, according to economists at Morgan Stanley, as the Federal Reserve delays its own policy easing.

Morgan Stanley sees US Fed cut delay pushing back easing in Asia

Tesla's global job cuts include reducing staff in the US&nbsp;and China, the automakers' two biggest markets, across sales, tech, and engineering, five sources briefed on the matter said.

Chief executive officer Elon Musk on Monday told staff in an&nbsp;internal memo&nbsp;seen by Reuters that the company is laying off more than 10% of its global workforce, as it grapples with falling sales and an intensifying price war for electric vehicles.

Tan Ai Leng

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