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Kajang, While the Upcoming Expressways Are Expected to Enhance Its Connectivity PUBLISHED EVERY FRIDAY FRIDAY, AUGUST 21, 2020 . issue 3131/2020 . PP19055/06/2016(034530) DIGITAL EP EP Malaysia Virtual Property WIN Expo 2020 WEEKLY PR04OPERTY 08NEWS PRIZES CHat worth over IRRESISTIBLE RM10,000! Proposed PREC working Residential Tenancy with tenants deals!!! Click to check it out! Act: Putting an end to bring retail to tenancy woes? business online VPEX.EdgeProp.my 7 Aug – 20 Sept 2020 From satay town to property hotspot The MRT has worked its magic on Kajang, while the upcoming expressways are expected to enhance its connectivity. See Pages 6 and 7. Subscribe to our e-Pub for FREE! Stay updated on the latest news at www.EdgeProp.my EP 2 FRIDAY AUGUST 21, 2020 NEWS HIGHLIGHTS from www.EdgeProp.my Vacancy tax to be dgeProp.my E | imposed on developers as early as 2021 LOW YEN YEING LOW The Housing and Local Government Ministry tax as early as next year, according to a (KPKT) is formulating a tax that could be news report on The Malaysian Reserve. imposed on developers who fail to sell their She believes the move is necessary properties as early as early next year, in an as many housing units that obtained the effort to reduce overhang of residential units Certificate of Completion and Compliance in the country. (CCC) have taken more than one year to be Minister Zuraida Kamaruddin said filled due to various reasons, whether the The Edge Property Sdn Bhd the introduction of the tax could also developers are unable to sell or buyers fail to (1091814-P) Level 3, Menara KLK, induce developers to be more sensible and move in. No. 1 Jalan PJU 7/6, Mutiara responsible in the projection of their projects, “In the future, they will do better Damansara, 47810 Petaling Jaya, particularly high-rise developments. projections when they develop houses, Selangor, Malaysia She added that the introduction of the while ensuring the projects’ viability and vacancy tax does not require Parliament’s developments that could attract buyers, EdgeProp.my approval as no amendment to the existing and not just develop as they wish. With this Act is needed. Once the tax is approved by the preventive measure, they can plan better,” Managing Director/Editor-in-chief Au Foong Yee Cabinet, KPKT will look at implementing the she noted. EDITORIAL Assistant Editor Tan Ai Leng Deputy Chief Copy Editor ES James Chong Mustapa: Retail RTI Senior Writer PE Rachel Chew sector to recover Writers Natalie Khoo, Chin Wai Lun, in 2H2020 Chelsey Poh The retail sector is expected to recover KL33 PRO Jun Kit Senior Designer in the second half of the year boosted For New Launches/Events/ by local consumption, with sales like- Press Releases/News Tips Malaysia email: [email protected] ly to recover to 80% of pre-Covid-19 Tel: (03) 7721 8211 Fax: (03) 7721 8280 levels in the fourth quarter from the Virtual Property 70% currently, Minister in the Prime ADVERTISING & MARKETING Expo 2020 Associate Account Director, Minister’s Department Datuk Seri Advertising & Marketing Mustapa Mohamed said. Heidee Ahmad (019) 388 1880 VPEX 2020 visitors who make enquiries Senior Account Managers “Subject to the second lockdown, Ian Leong (012) 359 1668 the sector will be normalised, with about any participating project stand to WIN Cecilia Too (012) 319 7666 local consumption to be the growth including Marketing Support & Ad Traffic driver for the country,” he told report- attractive prizes worth over RM10,000 Madeline Tan (03) 7721 8218 email: [email protected] ers after a closed session with retail- Panasonic home appliances and weekly ers at Sunway Pyramid mall recently giveaways of the Strata OMG 2.0 – Owner’s BUSINESS DEVELOPMENT Mustapa also said that the coun- KL33 Properties Manager Nimalen Parimalam (014) 324 3193 try’s unemployment rate has im- Manual & Guidebook by EdgeProp.my introduces proved. AGENCY SALES and Chur Associates. industry’s first Sales Manager Malaysia’s June 2020 unemploy- Stannly Tan (012) 538 1687 ment rate declined month-on-month Covid-19 secure Prospective homebuyers can also find out how PRODUCT DEVELOPMENT to 4.9% from a record high of 5.3% in office & CUSTOMER ADVISORY May 2020 as more sectors, including much they can borrow by using the Loan Check KL33 Properties recently unveiled the Associates the services industry, reopened to first ‘Covid Secure’ office space at Me- Omar Nawawi (012) 537 1687 tool at VPEX 2020. Nazrin Hakimin (017) 368 6061 revive the country’s economy. nara KL33, an integrated commercial building located in Kuala Lumpur For enquiries and listings email: [email protected] Click to visit Golden Triangle. Tel: (03) 7733 9000 E-Tanah system The fully furnished ‘Covid Secure’ EdgeProp.my e-Publication to go nationwide VPEX.EdgeProp.my now! office spaces are specifically recon- is published by The Edge Property The e-Tanah system, a digital inte- figured and retrofitted according to Sdn Bhd. Download it for free at grated application developed to carry the six feet social distancing rule www.EdgeProp.my out electronic land administration to prioritise the safety, health and matters, will be extended nationwide wellbeing of occupants and tenants. The Edge Malaysia in the near future. RM53.3 million to set up a new man- KL33 Properties executive director Energy and Natural Resources ufacturing facility. Tropicana Corp 2Q Tan Kok Leong said besides meeting Publisher and Group CEO Minister Datuk Dr Shamsul Anuar Located at Bandar Puncak Alam, profit rises after the changing requirements of the Ho Kay Tat Nasarah said the effort to digitalise the 518-acre EBP V development is disposal of JB land workplace, ‘Covid Secure’ office con- EDITORIAL land administration using the system Eco World Development Group Bhd’s Tropicana Corp Bhd’s second quar- cept also provides an environment Editor-in-chief Azam Aris would provide convenience to the fourth business park development. ter net profit jumped 371% from the that instills confidence that it is safe CORPORATE Chief Operating Officer people when carrying out land-re- EcoWorld Malaysia president and immediate preceding quarter, thanks to come back to the office again. Lim Shiew Yuin lated dealings. CEO Datuk Chang Khim Wah said to the disposal of two parcels of free- ADVERTISING & MARKETING “I hope what we do will benefit all Baosteel Malaysia’s decision to es- hold land in Johor Bahru for RM248.1 Chief Commercial Officer and the Cabinet has agreed for the tablish its business here will con- million. Get BREAKING Sharon Teh (012) 313 9056 system to be implemented through- tribute in offering quality employ- The group’s recent bourse filing PROPERTY General Manager NEWS delivered Fong Lai Kuan (012) 386 2831 out the country. The system is expect- ment opportunities for the people of showed its net profit for the quarter to you daily via Senior Sales Manager ed to be launched this year,” he told Selangor. ended June 30, 2020 (2QFY20) rose Gregory Thu (012) 376 0614 WhatsApp! Head of Marketing the media recently to RM24.29 million from the RM5.16 A I Support & Ad Traffic million in 1QFY20. TO SUBSCRIBE Lorraine Chan (03) 7721 8001 Revenue jumped 135.2% quar- 1. Add +6018 290 2116 malays Shanghai-listed ter-on-quarter to RM335.67 million to your contact Baosteel’s Malaysia LD from RM142.73 million, following the list as EdgeProp OR W disposal of the land. News. Or scan unit acquires land O On a year-on-year basis, the net this QR code. at Eco Business EC profit was down 37.76% compared 2. Send us a WhatsApp with Park V with RM39.02 million in 2QFY20, "NEWS" and your full Baosteel Can Making (Malaysia) Sdn while revenue rose 12.1% from name in the message. Bhd (Baosteel Malaysia) has pur- RM299.45 million. chased a 16.32-acre industrial land in the Eco Business Park V (EBP V) How do I get past issues of this weekly e-Publication? project for a cash consideration of Go to www.EdgeProp.my to download for free! EP 3 FRIDAY AUGUST 21, 2020 workhome | playhome | allhome EP 4 FRIDAY AUGUST 21, 2020 PROPERTY CHAT Proposed RESIDENTIAL TENANCY ACT: Putting an end to tenancy woes? he National House Buyers As- who continue staying on a property but of neighbours and residents within a de- sociation (HBA) refers to recent refuse to pay rent or who do not maintain BY DATUK CHANG velopment? What about the rights of resi- media reports where Housing the property or damage the fixtures and fit- KIM LOONG dents’ associations in gated-and-guarded and Local Government Min- tings, leaving the property in a “war-zone” communities and management bodies for ister Zuraida Kamaruddin has condition. stratified properties which are sometimes proposed to introduce a Res- At the other end of the spectrum, there are courts of law to recover payments or enforce inadvertently involved in tenancy disputes? idential Tenancy Act (RTA) which is to be landlords who raise rents arbitrarily, refuse their rights under their tenancy agreements, HBA is concerned with the intended scope Ttabled in Parliament next year. to rectify repairs in their properties which which can be costly. The rental arrears or of this RTA as it also aims, as was reported, If the RTA is to be made law, top of its may be in dilapidated conditions, withhold deposits owing may be less than the legal to cover matters such as “rent control” for objectives must be to protect the legitimate tenants’ security deposits without reason, or fees incurred under disputes for such claims. housing areas and perceived racist practices interest of landlords against errant tenants and find excuses to deduct non-existent damage In addition, should short home-stay pro- on potential tenants.
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