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Showing posts with label MySejahtera. Show all posts
Showing posts with label MySejahtera. Show all posts

Sunday 13 October 2024

Soaring rental market - what it means

 


The Malaysian rental market saw significant growth in the second quarter of 2024 (2Q24), with rents rising faster than anticipated, a trend that could have important implications for the property industry.

According to the recently released 2Q24 IQI Malaysia home Rental Index, the average rent reached RM1,995, a 3.9% increase from the previous quarter and 2.9% higher than the same period last year.

“This index by IQI analyses over 70,000 residential rental transactions between 2018 and 2Q24,” said Juwai IQI co-founder and group chief executive officer Kashif Ansari.

“It provides insights into new leases signed each quarter and offers valuable information on current rental market trends for tenants and investors.”

Accelerating growth

One of the key takeaways from the report is that, for the first time in a year, rental growth has accelerated rather than slowed. The current rate of increase suggests the market is on an upward trajectory, largely due to factors such as demand recovery, seasonal shifts and the return of international students.

“Our earlier forecast was that rental rates would climb moderately by 0% to 3%, but the index has already increased by 3.9%, more quickly than expected,” explained Ansari. “We now update our forecast and project that the index will have increased at an annual rate of 5.5% by the 1Q25.”

For the property industry, this is a clear signal that demand for rental properties remains robust, particularly in urban centres like Kuala Lumpur and Selangor. The surge in rents could prompt developers and investors to explore opportunities in both existing properties and new residential developments.

Regional disparities

The report also highlights significant regional disparities, with Kuala Lumpur maintaining higher rental prices than the national average. Rents in the capital are now 44% higher than the country-wide average and 51% above rents in neighbouring Selangor.

“In Kuala Lumpur, rents in the 2Q24 were up 5.7% compared to a year ago,” Ansari noted. “Selangor, by contrast, saw rents climb by 6.2%, but the overall cost is still much more affordable than in Kuala Lumpur.”

For the property industry, this disparity could encourage more development in suburban or neighbouring areas.

As affordability becomes a bigger concern for families and individuals, developers may focus on building in regions like Selangor, where rental prices are lower but demand is increasing.

“The affordability gap between Kuala Lumpur and Selangor may have encouraged some renters to move from the capital to more affordable neighbouring areas,” said Ansari. “The ability to work remotely has probably given further stimulus to this internal migration.”

The Covid Discount

Despite the rise in rents, many tenants are still benefitting from what the report calls the “Covid Discount”. This discount reflects the fact that rents have not yet fully rebounded to their pre-pandemic levels, particularly in high-demand areas like Kuala Lumpur.

“even though the inde climbed in the 2Q24, many renters still enjoy what we call the ‘Covid Discount’,” Ansari explains. “The average Malaysian renter now pays RM499 less in rent, which is a 20% discount from before the pandemic.

“In KL, the Covid discount is even bigger – renters are paying RM1,301 less on average, which is a 31% discount.”

This has significant implications for both renters and investors. While tenants continue to enjoy more affordable rents, the gradual recovery of the rental market means that prices are likely to rise further as economic conditions improve.

“Investors, on the other hand, may see the current market as a buying opportunity, expecting rents to return to pre-pandemic levels in the near future.”

For investors, the Covid Discount may present a buying opportunity, Ansari adds.

“If you anticipate rental income to bounce higher, closer to historic levels, in the future, buying now may enable you to benefit from income growth and capital appreciation.”

2Q24 figures show a 3.9% increase, which is 2.9% higher than the same quarter last year  The projecd annual growth rate is expected to reach 5.5% by the 1Q25

Stable yields

For property investors, the report offers positive news on rental yields, which remained stable across the country at 5.2% during the 2Q24. This stability makes Malaysia an attractive destination for investors seeking consistent returns from rental properties.

“Gross rental yields in Malaysia put the country in the top half of selected Asian countries, making residential investment property in Malaysia regionally competitive,” notes Ansari.

The stability in gross rental yields provides a degree of predictability for investors, allowing them to plan long-term strategies with confidence.

Developers may also see this as an opportunity to focus on regions with strong rental yield growth, such as Subang Jaya, where yields jumped by 0.6% to a new high of 6%.

“The location with the biggest increase in yields is Subang Jaya.

“This suggests a potentially favourable environment for property investors.

“The overall stability in yields benefits the rental market by making outcomes more predictable for both investors and occupants.”

Future growth

Looking ahead, the report suggests that economic growth will play a crucial role in shaping the property market, with rental rates expected to rise further.

The forecasted 5.5% annual increase in rental prices by 1Q25 reflects the broader recovery in Malaysia’s economy, which is likely to bring improvements in employment, disposable incomes and consumer spending.

“The slower recovery in some areas may be due to the economic challenges the country faced during the pandemic era,” Ansari points out.

“Now that Malaysia seems to be moving into a new growth cycle, we may expect to see a recovery in rental rates and further improvements in employment, disposable incomes and consumer spending.”

For the property industry, this presents both opportunities and challenges.

Developers will need to balance affordability concerns with the growing demand for rental properties, while investors will need to stay vigilant for changes in market conditions.

“The market is already showing signs of recovery and investors will focus on regions and property types that they anticipate will grow most quickly,” says Ansari.

With stable rental yields and the potential for rents to rise as the economy strengthens, the outlook for the Malaysian property industry remains positive.

Developers, investors and policymakers will need to adapt to the evolving market dynamics to capitalise on the opportunities ahead. - By JOSEPH WONG josephwong@thestar.com.my

Related post:

Broader scope of property management 




MyDigital ID tops one million registered users

MYDIGITAL ID RECORDS OVER 1 MLN REGISTERED USERS 

MyDigital ID Records Over 1 Mln Registered Users - Bernama


KUALA LUMPUR: Over one million users have registered for MyDigital ID less than a year since its implementation.

MyDigital ID Sdn Bhd chief executive officer Mohd Mirza Mohamed Noor said this demonstrated Malaysia's readiness to embrace digital transformation, ensuring an easier and more secure way to access government and private sector services online.

"We are incredibly grateful to our users for their confidence in MyDigital ID and their proactiveness in protecting themselves in an ever-challenging digital future.

"Their participation plays a vital role in realising Malaysia’s MyDigital ID’s aspirations, and it is clear that Malaysians are ready to make the shift towards secure and efficient digital services,” he said in a statement on Friday (Oct 11).

ALSO READ: Do we really need a digital ID?

He emphasised that this achievement marks an important milestone in Malaysia's journey to becoming a digitally driven nation, adding that it also highlights the increasing awareness and enthusiasm among Malaysians in embracing digital technology.

Mohd Mirza remarked that as Malaysia enhances its digital transformation, MyDigital ID acts as a trusted digital key, offering quicker, safer and more convenient access to essential services while safeguarding user privacy and data integrity.

"Currently, the MyDigital ID application has been integrated with several government applications, such as the Human Resources Management Information System (HRMIS) Mobile, MySejahtera, MyGov portal as well as MyJPJ. The platform will also see integration with popular applications in the future,” he said.

MyDigital ID's comprehensive services include access to secure e-government services, in addition to banking, telecommunications and healthcare.

ALSO READ: Integration with MyJPJ app postponed, not cancelled, says MyDigital ID boss

To register, users can download the MyDigital ID app from the Google Play Store or Apple App Store and sign up without visiting kiosks. After registration, Malaysians can log into various apps and portals using just one verification system, making it easier to manage access.

He also noted that the MyDigital ID system verifies users' identities for government platforms and transactions without collecting personal data. Instead, it compares details from MyKad and the user’s fingerprint or facial features with existing records from agencies like the National Registration Department (NRD) during the registration process.

"The implementation of MyDigital ID marks a pivotal step towards a more user-friendly and secure digital environment, aligned with the government’s vision of harnessing technology to empower its citizens.

"MyDigital ID Sdn Bhd would also like to emphasise and assure Malaysians that MyDigital ID does not store any biometric data of its users. It also does not collect, monitor or store personal data, all while ensuring users do not have more than one digital identity as safety measures,” he said. - Bernama


Wednesday 9 March 2022

Malaysia will open its borders to international travellers on April 1, 2022

 



Malaysia to fully reopen borders from April 1 as country transits to COVID-19 endemic phase

KUALA LUMPUR: In about three weeks, Malaysia will reopen its borders and those wanting to visit the country will no longer need to apply for the MyTravelPass.
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All travellers have to do is download the MySejahtera application and fill in the pre-departure form under the “Traveller” section, said Prime Minister Datuk Seri Ismail Sabri Yaakob.
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“The reopening of the country’s borders was one of the much-awaited announcements among the rakyat.
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“We believe that the reopening of the borders on April 1 will not only bring freedom for the rakyat to travel abroad but also allow those from other countries to visit Malaysia,” he said at a press conference in Parliament yesterday.
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Visitors and Malaysians who have been fully vaccinated against Covid-19 will no longer have to quarantine when they arrive.
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They must, however, undergo a RT-PCR test two days before departure and a professional rapid test (RTK-Antigen) upon arrival.
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“They can do the RTK test at the airport or at a health facility outside, but it must be done within 24 hours,” said Ismail Sabri.
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As for travellers who have not been fully vaccinated, he said the entry procedures will be explained by Health Minister Khairy Jamaluddin today.
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“The country wants to provide comfort to travellers and not complicate their travel process,” the Prime Minister added.
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As for Malaysians, he said those with valid documents are free to travel to any other country that had reopened their borders to visitors.
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For countries that had yet to fully open their borders such as Singapore, Malaysians could use the Vaccinated Travel Lane (VTL) method, he said.
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He added that the country is also in the midst of implementing the VTL initiative with Thailand, Brunei and Indonesia.
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The country’s borders have been shut since March 2020, while entry of foreign workers has been frozen due to the pandemic.
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Ismail Sabri noted that the reopening of the borders will help revive the country’s economy, especially the tourism industry which was badly hit by the pandemic.
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Some 98.7% of Malaysia’s adult population are fully vaccinated, while 64% have received their booster shots.
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Although the country’s daily cases have shot past the 30,000 mark due to the recent Omicron outbreak, 99% of the infections are mild or asymptomatic.

Source link

 

Covid-19 recoveries outnumber new cases again | The Star

SOURCE :
World / Countries / Malaysia
Last updated: March 09, 2022, 06:57 GMT

https://www.worldometers.info/coronavirus/country/malaysia/

Friday 17 December 2021

Covid-19: Sinovac recipients, those above 60 must get booster shots by February or have their status changed to 'incomplete', says KJ

 

 

KUALA LUMPUR: If you don't get your Covid-19 booster shot by February next year, your vaccination status may be deemed "incomplete", says Khairy Jamaluddin.

The Health Minister said the groups affected by this are those who received the Sinovac vaccine, as well as anyone who is above 60 years old.

"If these groups of individuals still have not gotten their booster shots after February 2022, their vaccination status will be changed to 'incomplete'," he said in a statement on Wednesday (Dec 16).

He said those whose status has been changed to "incomplete" would not be able to enjoy the benefits of those who have been deemed to have completed their vaccinations.

He said individuals who must get their booster shots before the end of February next year are those who had taken the Sinovac vaccine.

He added that those above 60 years old, who had taken a vaccine irrespective of the type of vaccines, will also be required to take their booster shot.

Khairy said this was in line with a recommendation by the World Health Organisation's Group of Experts on Immunisation (SAGE) advice.

He noted that the Covid-19 Immunisation Task Force — Booster (CITF-B) had approved and adopted the recommendation on Dec 8.

At present, Khairy said that Comirnaty by Pfizer-BioNTech, CoronaVac by Sinovac and AstraZeneca have been approved for use for booster shots.

The Working Technical Committee, he added, had recommended that those above 18 should get their booster shots.

Source link

 

No benefits without booster

 

Get your booster: Khairy speaking at a press conference in Parliament. With him is Health director-general Tan Sri Dr Noor Hisham. — Bernama

KUALA LUMPUR: The vaccination status of those required to get their Covid-19 booster shot will be deemed “incomplete” if they fail to get their shots by February next year, says Khairy Jamaluddin.

“If these group of individuals still have not got their booster shots after February 2022, their vaccination status will be changed to ‘incomplete’,” the Health Minister told a press conference in Parliament yesterday.

He said those whose status has been changed to “incomplete” would not be able to enjoy the benefits of those who are deemed to have completed their vaccination.

Sinovac vaccine recipients are among those who must get booster shots by the February deadline.

Meanwhile, those above 60 years old, irrespective of vaccines type, will also be required to get their booster shot.

Khairy said this was in line with recommendation by the World Health Organisation’s Strategic Advisory Group of Experts (SAGE).

He added that the Covid-19 Immunisation Booster Task Force had approved and adopted the recommendation on Dec 8.

At present, Khairy said that the vaccines by Pfizer-BioNTech, Sinovac and AstraZeneca have been approved for use as booster shots.

He added those above 18 should also get their booster shots.

Booster dosing started nationwide on Oct 13 for fully vaccinated individuals to ensure the immunity received after completing their doses can be maintained for an optimal period, especially against the Delta variant.

Last month, Khairy stressed that Malaysia could face a new wave of Covid-19 infections if the administration of booster doses was not accelerated.

In a tweet later yesterday, he said in line with the government’s effort to ramp up the booster shots vaccination drive, mega PPV (vaccination centres) will be reopened starting with the Klang Valley.

“All 60 and above or Sinovac recipients must get a booster latest by February 2022 to keep (their) fully vaccinated status.

“You will get your booster appointment on MySejahtera 180 days after the second dose (Pfizer or AstraZeneca) or 90 days after the second dose (Sinovac).

“You can also contact GPs near you at https://vaksincovid.protecthealth.com.my/find to register on the waiting list,” he said.
 

Thursday 20 August 2020

MySejahtera, #MyTrace to trace Covid-19, a mandatory use being mulled

How to use MySejahtera, Gerak Malaysia and MyTrace

https://youtu.be/FDYCakU78rI
  
In this video, we show you how to use Malaysia's three COVID-19 tracing apps to help you navigate the MCO better. Visit us at www.klgadgetguy.com for tech news, gadget reviews and more.

https://youtu.be/aBb3HeH2bY4

Cara Daftar Premis & Check In QR Code dengan MySejahtera

https://youtu.be/HB_uGoc13Kw

Aplikasi penting semasa pkp. Cara daftar dan menggunakan aplikasi MySejahtera / My Sejahtera. https://youtu.be/jHYuv43cr2k

#MyTrace #COVID19 #MovementControlOrder, MyTrace: A Quick Guide


https://youtu.be/XbdhdsNYEDk

MyTrace: A Quick Guide

 #MyTrace is one of three #COVID19 apps that have been produced by the government of Malaysia, after MySejahtera and Gerak Malaysia. 

Essentially, MyTrace acts as a beacon that would be flagged automatically if you are nearby another MyTrace user that is tested positive for COVID-19 infection. 

This would allow authorities to reach out to you for further action such as to perform COVID-19 test, self/mandatory quarantine, and even trace other nearby MyTrace users that might have been exposed to the virus at the same time as you. 

Out of three COVID-19 apps that were produced by the government of Malaysia, this is so far the easiest to use. Do go through our MyTrace quick guide to learn more. For more stories about MyTrace, visit: http://lowy.at/mytrace.


Mandatory use of MySejahtera app being mulled


https://youtu.be/SsDNmh6ODS0

KUALA LUMPUR: THE government plans to make the use of the MySejahtera app mandatory and do away with manual registration of personal data, the House heard.

Minister in the Prime Minister’s Department Datuk Seri Redzuan Md Yusof said: “We are currently studying and discussing with the National Security Council and the Attorney General’s Chambers whether we can enforce this as a law.”

He replied to Dr Lee Boon Chye (PH-Gopeng) during Minister’s Question Time.

The MP had asked the ministry to state the limitations faced during the implementation of the MySejahtera app as many premises still used logbooks to record a customer’s information.

Redzuan said this was part of a new culture that the government was trying to introduce to make it easier for the local community to cooperate with the government.

To the initial question, Redzuan revealed that 15.1 million users have registered under the MySejahtera app as of Aug 16.

“Users will have to answer questions relating to their health and travel information when they first register based on the standard operating procedure set by the Health Ministry,” he added.

Redzuan also said that the app successfully detected 322 out of 9,200 Covid-19 patients in the country.

“A quick way of contact tracing can be achieved via the MySejahtera app and the total number of contacts can be detected based on the number of Covid-19 positive cases,” he said.

Hopeful but cautious


The elderly are receptive to the idea of using the MySejahtera app as long as leeway is given at some premises while cybersecurity experts assure the public that those responsible for data leak could be brought to book.

PETALING JAYA: As the government mulls making the MySejahtera app compulsory while doing away with manual registration of personal data at premises, senior citizens are not so happy.

They bemoaned their plight, asking for certain exemptions due to their limitations.

S. Radhakrishnan, a 79-year-old retired legal consultant, commended the move towards digitisation of information but said concessions needed to be made for some cases.

“It is a step in the right direction but making it a blanket rule would cause an issue for certain groups.

“There should be exemptions at certain premises like hospitals where we should be allowed to record details manually, especially for senior citizens who do not own smartphones.

“Some senior citizens can’t operate smartphones because they might have problems reading the small text on the screen or even hearing, so owning a smartphone is not an option for all of us,” he said.

The MySejahtera app recently introduced a feature for group check-in, whereby any user can add their family members who do not own a smartphone into their list of dependents.

This will enable the smartphone user to check in his or her entire family into premises without everyone having to individually do so.

However, Radhakrishnan said if senior citizens were forced to travel with their children just for the purpose of checking them into premises, this would cause a hassle.

“Hospitals would be more crowded because instead of just the patient, they also have to take their children along just to check in,” he added.

Malaysia Singapore Coffeeshop Proprietors’ General Association president Datuk Ho Su Mong also raised concerns on the app’s takeup rate among their elderly customers.

“We have many elderly customers at our coffee shops and many don’t carry a smartphone.

“Some could not even properly write down their own details due to illiteracy or poor eyesight, so we help them by manually recording their information,” he said.

Ho said many members also grappled with the app, saying that only between 30% and 40% out of the 20,000 members had fully adopted the app.

The rest were still manually recording customers’ details as they did not fully understand how to go about using the app at their premises, he noted.

“If the app is made mandatory, the government must provide lessons to business owners so we can all adapt to the change.

“We would also need a grace period of maybe one or two months after the law is in place, where we will not be penalised during the adjustment period,” he added.

On Tuesday, Minister in the Prime Minister’s Department Datuk Seri Redzuan Md Yusof said the government was studying whether it could enforce a law to make the app usage mandatory.

He said this was part of a new culture the government planned to introduce to make it easier for the local community to cooperate.

As many as 15.1 million users have registered under the MySejahtera app so far.

Based on a recent survey in The Star’s Facebook page, Malaysians almost unanimously agreed that it was more convenient to use MySejahtera, as opposed to using multiple applications at different premises.

How to add dependents on MySejahtera app 

 Step 1 Go to the MySejahtera app

Step 2 Go to the home page, click on 'More'

Step 3 Click on 'Manage Dependents'

Step 4 Click on 'Add Dependents' and fill in the details accurately

Step 5 Dependent has been successfully added

Step 6 To check-in with a dependent, simply check the box

Data breach is a big concern, say experts


PETALING JAYA: As the government moves to make the use of the MySejahtera app compulsory, experts are concerned that a data breach could leak sensitive information, increasing the number of scams targeting the public.

Details that matter: Members of the public registering themselves the modern or old-fashioned way before entering Petaling Street in Kuala Lumpur.

However, the Department of Personal Data Protection (JPDP) assured that although the government was not subject to the Personal Data Protection Act (PDPA) 2010, action could still be taken against those responsible for a data leak.

A JPDP spokesperson said the public could file a complaint to the Chief Government Security Office, a unit under the Prime Minister’s Department that is responsible for the security of all government assets, or the National Cyber Security Agency.

Errant officers who mishandled the data could be charged under the Official Secrets Act 1972 and the Public Officers (Conduct and Discipline) Regulations 1993, he added.

He had checked with the Crisis Preparedness and Response Centre and confirmed that the data is owned by the Health Ministry and is protected by Section 3 of the PDPA. Section 3 states that the Act shall not apply to the Federal Government and state governments.

Bar Council Information Technology and Cyber Laws Committee deputy chairman Foong Cheng Leong also called for more transparency and accountability if there was misuse of the data.

He said there also needed to be an assurance that data would be destroyed at some point in time, adding, “The law should have all the safeguards that we need.”

Universiti Sains Islam Malaysia (Usim) Cyber Security and System Research Unit coordinator Dr Madihah Mohd Saudi said the PDPA had a provision that gave users the right to request for their data to be deleted.

She suggested that the government adopt a feature that allowed users to manually delete their history of check-ins after an appropriate amount of time had lapsed and the data was no longer needed.

She said that although the MySejahtera app, like any other system, was not immune to being hacked, it was still more secure than writing one’s name down in a physical logbook, as the info could be easily exploited.

Madihah said that as the app was continuously being updated, it showed that the government was taking steps to improve the system and could even be addressing vulnerabilities if any were discovered.

Cybersecurity specialist Fong Choong Fook questioned what the government had done to protect the data and what process would be used to destroy the gathered information after a certain period of time.

To ensure the successful mandatory adoption of the app, Fong said the government needed to be transparent on its processes and the security controls that were in place.

He predicted there would be an “explosion of scam calls” should the MySejahtera data be leaked, as it kept track of critical information, including a user’s movements.

He said this information might not seem sensitive to a layman, but a scammer could use the data to form a profile of a victim.

“They would know I’ve been to a shopping centre in the morning, then a restaurant next door. With this, a scammer can pretend to be a government official and create a scare story to trick the victim into doing something they otherwise wouldn’t,” he said.

Fong said the government would need to be more transparent with the data management. If it wasn’t, the adoption of MySejahtera could suffer due to a sceptical public, he added.-

Source link


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Govt plans to use MySejahtera app as sole method of... 

Download the mySejahtera app and get RM50 e-wallet credit!

 Malaysians listen up! You can soon get RM50 eWallet credit when you download the MySejahtera app. In other news, our prime minister has announced that telcos will be offering free data everyday to support e-learning as well as productivity activities. 


Others

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