News by Chin Wai Lun

Malaysia Shopping Malls Association (PPK) president Tan Sri Teo Chiang Kok: Judging by statistics, [malls] are still not yet overbuilt save for specific areas. On a per capita basis, the volume of retail space is still manageable

KIP Group of Companies CEO Valerie Ong said these community-centric neighbourhood malls could rebound quicker than those with luxury offerings post-MCO.

Datuk Azmir Merican Azmi Merican: Our future depends on our ability to be resilient and we will have to remain focused on identifying opportunities while adjusting to the new norms so that we can sustain our performance and remain competitive.

Acting group CEO Datuk Wan Hashimi Albakri will resume his position as chief operating officer - township development. 

“This time around, will the property sector survive the mother of all crises?"

Sold for: RM510,000 (RM927.27 psf); Concluded by: Meifen Low (REN 06451) (012-6530714) of One World Real Estate; When: January 2020

The developer has also rolled out its Setia Food Aid for its foreign workers that are affected by the ongoing COVID-19 outbreak.

"For instance, there are pipe leakages and other maintenance issues that require urgent repairs. The issue here is, most contractors are not operating during the MCO. Hence, property managers face difficulties to tackle such issues."

To date, S P Setia Foundation has delivered a ventilator, patient monitor system and syringe pumps to Hospital Selayang, Selangor. Over 4,300 units of N95 face masks were procured and given to the Hospital Kuala Lumpur and 50 units of aerosol boxes, a protective device when intubating patients, were distributed to various hospitals across Peninsular Malaysia.

"Property prices will eventually go up. Historically, on the average, a property's value will sort of double over 10 years. It's not an overnight thing. Besides, if they were to wait, they may let a good opportunity pass them by."