Published EVERY FRIDAY FRIDAY, MARCH 5, 2021 . issue 3158/2021 . PP19055/06/2016(034530) E-weekly Published EVERY FRIDAY . issue 3158/2021 . PP19055/06/2016(034530) FRIDAY, MARCH 5, 2021 E-weekly EP At Home with 06 WILL THE Eunice FEATURE Turning waste boxes STUDENTS into valuable BE BACK? art pieces Wangsa Maju and Setapak in Selangor used to teem with students — thanks to their promixity to institutions of learning. However, rentals have been sliding due to the Covid-19 pandemic. What lies ahead for real 09COVER estate here? STORY EP 3 FRIDAY MARCH 5, 2021 NEWS HIGHLIGHTS from www.EdgeProp.my dgeProp.my E | BNM keeps OPR at 1.75%, YEN YEING LOW as expected Bank Negara Malaysia (BNM) maintained the Overnight Policy The Edge Property Sdn Bhd (1091814-P) Rate (OPR) at 1.75% on March 4 Level 3, Menara KLK, No. 1 Jalan PJU 7/6, Mutiara as it expects Malaysia’s economic Damansara, 47810 Petaling Jaya, growth to improve although it is economies, together with policy second quarter of 2020. Selangor, Malaysia still subject to downside risks. support, will further facilitate an “Going forward, growth is EdgeProp.my The central bank said in improvement in private demand projected to improve from the a statement that the global and labour market conditions,” it second quarter onwards, driven by Managing Director/Editor-in-chief Au Foong Yee economic recovery, while uneven, added. the recovery in global demand, EDITORIAL is gaining momentum, supported While the reimposition of increased public and private Assistant Editor Tan Ai Leng Deputy Chief Copy Editor by steady improvements in containment measures will affect sector expenditure amid continued James Chong Senior Writer manufacturing and trade activities. growth in the first quarter, it said support from policy measures Rachel Chew Writers “The ongoing roll-out of the impact is expected to be less and more targeted containment Natalie Khoo, Chelsea J. Lim, Jay Wong vaccination programmes in many severe than that experienced in the measures,” it said. Senior Designer Jun Kit For New Launches/Events/ Press Releases/News Tips email: [email protected] Tel: (03) 7721 8211 Fax: (03) 7721 8280 “Covid-19 screening is crucial for foreign workers to reduce the risk of ADVERTISING & MARKETING Sunway Property sets Account Manager the viral infection at the construction Joyceline Chan Lai Yuet sites… The challenge is ensuring ad- (012) 693 5826 RM1.6b sales target for 2021 Senior Account Managers herence to the standard operating Ian Leong (012) 359 1668 procedure, as this sector is the second Sunway Property, the property division of Sunway Cecilia Too (012) 319 7666 Joane Tan (011) 6286 5767 biggest contributor to Covid-19 posi- Bhd, is eyeing to achieve sales of RM1.6 billion Marketing Support & Ad Traffic tive cases,” he said on March 2. this year, with the anticipation that market Madeline Tan (03) 7721 8218 The incentive would be implement- email: [email protected] sentiment will recover gradually after the CIDB allocates ed via two methods, namely, screening National Immunisation Programme kickoff. BUSINESS DEVELOPMENT at the construction site if there were Manager In a virtual media briefing on March 4, RM7m for foreign more than 30 applicants and drive- Nimalen Parimalam (014) 324 3193 Sunway Bhd property division managing workers’ Covid-19 through screening using the RTK-An- AGENCY SALES director Sarena Cheah (pictured) said the Sales Manager screening tigen test kit, of which the result could Stannly Tan (012) 538 1687 The Construction Industry Develop- be obtained within 30 minutes. company would be launching properties worth RM2.8 billion in gross PRODUCT DEVELOPMENT ment Board (CIDB) has agreed to al- “The actual cost set is RM100 for the & CUSTOMER ADVISORY locate RM7 million to assist small and registered foreign construction workers development value this year. Associates medium construction companies to with RM50 borne by CIDB, while the Of that amount, 40% would Omar Nawawi (012) 537 1687 Nazrin Hakimin (017) 368 6061 speed up Covid-19 screening for their unregistered ones have to pay the full be properties in Malaysia, 30% foreign workers. charge of RM100,” he added. in Singapore and 30% in China. For enquiries and listings email: [email protected] Senior Minister (Works) Datuk Seri “With the vaccine arriving Tel: (03) 7733 9000 Fadillah Yusof said although the So- in Malaysia and the plans EdgeProp.my E-weekly cial Security Organisation had been Malaysia’s Safe Travel to disseminate them to all is published by The Edge Property conducting Covid-19 screening for Malaysians – it is not really Sdn Bhd. foreign workers, the developers need- portal welcomes business travellers about the vaccine but it is all Download it for free at ed to pay for it first, and the small and about getting vaccinated. We medium companies could not afford The government is welcoming busi- www.EdgeProp.my will be able to achieve a herd to do that. ness travellers with the launch of Malaysia’s Safe Travel portal which immunity of at least 70-80% The Edge Malaysia is designed to facilitate the entry of as soon as we can so that we BHD can all get back to some form Publisher and Group CEO business travellers into the country. Y Ho Kay Tat EdgeProp.my Malaysian Investment Develop- of norm,” added Cheah. ment Authority (MIDA) said the portal, EDITORIAL SUNWA Editor-in-chief Azam Aris is on Telegram! which is fully operational effective from March 3, contains information It noted that RWG was closed again CORPORATE and advisory services for both short- Genting Malaysia’s in January 2021 due to MCO 2.0 and Chief Operating Officer Lim Shiew Yuin and long-term business travellers. senior management “even with the recent availability of vac- MIDA said business travellers may takes voluntary cines, tourist traffic to RWG is expected ADVERTISING & MARKETING also apply for Social Visit Pass under to remain subdued and uncertain in the Chief Commercial Officer long-term business travellers should salary cuts short term”. Sharon Teh (012) 313 9056 General Manager they plan to stay for more than 14 days Genting Malaysia Bhd’s senior man- “In this regard, our colleagues have Fong Lai Kuan (012) 386 2831 CLICK in the country. agement team has taken a temporary volunteered again to reduce their sal- Senior Sales Manager voluntary 20% salary cut for three aries during this challenging time, and Gregory Thu (012) 376 0614 HERE months, and the company has written on behalf of Genting Malaysia, I seek your Head of Marketing to join the Support & Ad Traffic to staff for them to consider a variation agreement to a temporary variation of Lorraine Chan (03) 7721 8001 “EdgeProp in their employment contracts with a your employment contract to give effect Malaysia” news suggested variation stagger, depending to a reduction in monthly base salary on job grade from 15% to 20% reduc- or your agreement to take no pay leave channel on tion in salary or one day no pay leave as the case may be,” noted the letter Telegram to per week, according to The Edge’s re- to staff signed by president and COO receive daily alerts port on March 3. Datuk Seri Lee Choong Yan. on property news! How do I get past issues of this E-weekly? Go to www.EdgeProp.my to download for free! EP 4 FRIDAY MARCH 5, 2021 NEWS HIGHLIGHTSNEWS from www.HIGHLIGHTSEdgeProp.my from www.EdgeProp.my LBS founder retires, Covid-19: Daily cases fall, Lim Hock San appointed and creep up again as chairman LBS Bina Group Bhd has appointed managing director Tan Sri 1,075 Lim Hock San (pictured) to succeed Datuk Seri Lim Bock Seng Number of daily as the group’s executive chairman, effective March 1, 2020. positive cases In a media statement on Monday, LBS also announced dgeProp.my E that executive director Datuk Wira Lim Hock Guan would | step up as the new managing 2,063 director, starting the same day. 2,253 Lim Bock Seng, aged 90, had served as chairman of LOW YEN YEING LOW LBS since Dec, 2001. He had been involved with LBS for Feb 26 Mar 4 over 40 years prior to this where the business initially revolved around transportation The number of confirmed Covid-19 cases have Concentrate for Dispersion of Injection vaccine. activities, primarily supplying gradually decreased to below 2,000 cases a day over With orders for Covid-19 vaccines surpassing and transporting building the last few days, but they creeped back up to 2,063 108% of the population, deputy minister of Science, materials like sand and yesterday. Overall, this is a good sign of recovery Technology and Innovation Ministry (MOSTI) Datuk aggregates for construction and but Malaysians still need to stay vigilant as daily Ahmad Amzad Hashim assured the people not infrastructure works, before positive cases are still at the four-digit level. to worry as the National Covid-19 Immunisation R0 or R naught, a mathematical term to measure Programme (NIP) will provide sufficient doses for venturing into the construction how contagious and infectious the disease is, everyone in the country. sector and building up LBS. dropped to 0.9 last week, from 1.2 previously. Health The rollout of the first phase of NIP targeted director-general Tan Sri Dr Noor Hisham Abdullah frontliners including healthcare workers, said if R0 continued to decline, the country might be firefighters and police. Other than government LBS BHD seeing the number of daily positive cases decreasing hospitals, private hospitals such as Pantai Hospitals to two digits. were also being used as vaccination centres to speed Paramount sets higher Meanwhile, the Drug Control Authority had up the inoculation process.