Editor’s Choice: 5 December 2017

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  • Government Will Consider Developers’ Appeal to Continue Building Luxury Properties
  • 24.5 Million Internet Users In Malaysia
  • One Thousand ASEAN Corporates to Participate in ASEAN NEXT
  • Asia-Pacific Airlines Pose Higher Profits In 2018
  • World’s largest Starbucks to open in Shanghai

Government Will Consider Developers’ Appeal To Continue Building Luxury Properties
The Government will consider developers’ appeal to allow them to continue building luxury properties priced at RM1 million and above in selected locations in major cities. Urban Wellbeing, Housing and Local Government Minister Tan Sri Noh Omar said a ministry-level committee will be set up to consider the appeal and that the matter would be evaluated on a case-by-case basis. He said the measure was taken after the government received feedback from stakeholders such as the Real Estate and Housing Developers’ Association Malaysia (Rehda) to reconsider the government’s decision to temporarily freeze new applications by developers to build shopping complexes, office buildings, service apartments and condominiums priced at RM1 million and above from 1 November. The Cabinet has appointed five ministers to discuss and handle issues related to the freeze.” (Bernama)

24.5 Million Internet Users in Malaysia
The Internet user population in Malaysia has grown from 2.5 million in 2006 to 24.5 million this year, a growth of 880 percent. Deputy Communications and Multimedia Minister Datuk Seri Jailani Johari said Malaysians under the age of 18 made up 5.8 percent of Internet users in the country, numbering 1.8 million people. “The Malaysian government has embarked on various initiatives to ensure a safe online environment for children. Under the Communication and Multimedia Act namely sections 211 and 233, the Malaysian Communications and Multimedia Commission (MCMC) has blocked 155 websites that contained child sexual abuse content this year,” he said. (Bernama)

One Thousand ASEAN Corporates to Participate in ASEAN NEXT
The ASEAN Young Entrepreneurs Association (AYEA) is expecting about 1,000 corporates across ASEAN to participate in the ASEAN Next Entrepreneurs Exchange Track (NEXT) next year. President S. Kesavan said the emergence of the digitalisation era around the region called for corporates around the region to urgently transform and develop their businesses in order to remain relevant. NEXT is designed to promote deals between corporates and young entrepreneurs in order to tap the digital skills and talents of young entrepreneurs. The main objective is to help companies transform and develop their businesses in line with the emerging Industry 4.0 Revolution. “On average, there are between 1,000 and 2,000 young entrepreneurs who are registered with their respective country’s entrepreneurs association. (Bernama)

IATA: Asia-Pacific Airlines Pose Higher Profits In 2018
The International Air Transport Association (IATA) said airlines in Asia-Pacific are expected to see higher profits of US$9 billion next year from US$8.3 billion anticipated for 2017. The strong cyclical rise in cargo markets had been a particular support for this region given that regional carriers account for 37 per cent of global cargo capacity, it said. “Domestic markets have strengthened in China, India and Japan. New low-cost market entrants in the ASEAN region is intensifying and contributing to keeping profitability low.” “However, there has been a pause in competitive pressure from the super connectors’ on long-haul routes as they face various challenges in their home markets,” it said in a statement today. For the global industry as a whole, the association said net profit was expected to rise to US$38.4 billion in 2018, an improvement from the US$34.5 billion expected net profit in 2017, driven by strong demand, efficiency and reduced interest payments. IATA Director-General and Chief Executive Officer Alexandre de Juniac said the global air transport industry was experiencing good momentum given the solid safety performance and growing number of travellers. (Bernama)

Starbucks expecting huge crowds at opening of biggest ever store, in Shanghai tomorrow
Coffee giant Starbucks will open its biggest outlet ever on Wednesday, in Shanghai – and the company is expecting bumper crowds to enjoy the experience of being among the first to enjoy the giant 30,000-square-foot store. The “Starbucks Reserve Roastery” is on Nanjing Road West, the city’s most-famous shopping street, and has been hotly promoted for months on social media. It will be the second of its kind worldwide, offering customers the chance to actually watch coffee beans being roasted live in-store. It will also host the Teavana Bar – its first outlet in China specifically offering a range of Chinese teas. (SCMP)

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