BNM said banks in the country "are still operating" throughout the Covid-19-driven MCO in certain states and federal territories and amid the nationwide emergency proclamation.

“In general, the PERMAI assistance package improves on the existing ongoing initiatives and also accelerates the implementation of related initiatives.”

A stroll in the OUG market, Kuala Lumpur, today has seen many shoppers coming out for daily necessities, as well as some CNY paraphernalia and goodies for the celebration. 

Other than the 10% discount on electricity, from January to March this year, there was no other assistance extended to the hotel industry.

The 46-year old Sufian is currently the chief executive officer of KWEST Sdn Bhd, the property arm of KWAP. Before joining KWEST, he was the vice president of the property segment of KWAP. Prior to this, he was  the former vice president (product development and land planning) of Sime Darby Property.

The development of the country’s political and health landscape has affected the construction industry.

He said that the performance of the residential market is very much dependent on how the economy moves forward.

The Association of Banks in Malaysia (ABM) and the Association of Islamic Banking and Financial Institutions Malaysia (AIBIM) said banks will continue to extend repayment assistance, including an extension of the existing moratorium where applicable, to individuals affected by the current movement control order (MCO).

Singapore-listed Hotel Royal purchased the Royale Chulan Bukit Bintang Hotel Kuala Lumpur at RM177.3 million, 10% lower than the original price tag of RM197 million, according to Hotel Royal’s filing with the Singapore stock exchange. 

Life Insurance Association of Malaysia (LIAM), General Insurance Association of Malaysia (PIAM) and Malaysian Takaful Association (MTA) said generally, pandemic-related risks are not covered under any insurance and takaful plans worldwide.