LBS also hoped for the government to lowering down the cost of construction by reduction in compliance cost

Its associate director for South and Southeast Asia financial institutions ratings, Nancy Duan, said the credit rating agency does not expect any material exposure from Malaysian banks to Evergrande

“We hope the government will provide additional catalysts to the industry and incentives for home buyers by introducing more property friendly measures in the upcoming Budget 2022. We also hope that the country’s borders will open up soon, with suitable guidelines to enable cross border economic activities to resume, emulating other countries which have successfully re-opened for foreigners," said Mah Sing’s founder and group managing director Tan Sri Leong Hoy Kum.

He said the RM400 billion comprises allocations for ongoing and new development projects, as well as allocations for the rehabilitation of agencies such as the Federal Land Development Authority (Felda) and Lembaga Tabung Haji.

Under the new master plan, the remaining 665 acres of development land in Setia AlamImpian would have an estimated GDV of RM8.37 billion, which will be fully developed into a self-sustaining township in the next 15 years. Upon completion, the township is expected to house an 80,000 population.

Mah Sing Bhd CEO Datuk Ho Hon Sang said the group has closed property sales of approximately RM1.06 billion for the first 8 months of 2021 and is on track to achieve its sales target of RM1.6 billion for the year. 

“We also hope for reduction of financing cost for construction projects through interest subsidy or government guarantee for project loans to lower the cost and ensure viability. Besides, our wish list is also for government departments to abolish time-consuming administrative procedures and increase business costs especially during the COVID-19 pandemic,” MBAM noted in its Budget 2022 wish list statement. 

2022 will be a critical year for Malaysia, a rare window to jumpstart not  just an economic recovery, but a recovery of industries, livelihoods and  jobs, especially those hit hardest by the pandemic.  

EMIR Research head of science and technology Ameen Kamal said that the PICK programme is likely to be extended well into 2022 on immunological uncertainties.

The prolonged lockdown also led developers to rethink their strategies in marketing and product offerings