KUALA LUMPUR, 10 September – Mah Sing appreciates the government’s continuous efforts in looking at the needs of Rakyat and businesses during this challenging period. Since 2020, the government has introduced eight well-rounded aid and economic stimulus packages totalling RM530 billion, and this has helped to cushion the economic impact to a certain degree caused by the pandemic.
The government’s latest announcement to transition Kuala Lumpur, Selangor and Putrajaya from Phase 1 to Phase 2 of the NRP and also allowing housing galleries to operate in states under Phase 1 starting 10 Sept 2021 is timely as business resilience is important to rebuild and reset the economy. With more activities such as dine in and same-state tourism activities allowed for those who are fully vaccinated, this will help to balance between health protection and livelihoods as we progress through the NRP and embrace the new norm.
KAF Equities’ recent report on Malaysia Property Sector indicated that Klang Valley typically makes up approximately one-third of total residential property transaction units and approximately half of the total residential property transaction in value. We believe the government’s move to transition Klang Valley to Phase 2 and open up more sectors will help revitalise the local economy gradually, and the widespread effect of economic stability will also stimulate the property market for these areas.
According to the Covid-19 Vaccine Supply Access Guarantee Special Committee (JKJAV), around 70.5% of Malaysia’s adult population are fully vaccinated and 89.5% received at least one dose of vaccine as of 8 September 2021. We truly believe that vaccinations play one of the key roles towards the country’s economic recovery and it is extremely important to have a vaccinated workforce as businesses re-open. For Mah Sing, more than 80% of our workforce is fully vaccinated currently. Our property sales galleries have also been proactively adopting stringent hygiene practices, social distancing guidelines and SOPs, as we hope to provide a safe environment for our staff and visitors while they resume their normal lifestyle.
Moving forward, we are looking forward to a multi-pronged approach where the government, industry players and community work hand-in-hand to achieve the NRP’s targets.