Industrial Master Plan (NIMP 2030) by Malaysia Government
September 5, 2023 / 0 comments / 747 views / Tags: Economy, industrial land, Investment, IT, Malaysia, property, property agent, Real estate / Category: Article and lifestyle
New Industrial Master Plan
The government’s implementation of the New Industrial Master Plan 2030 to propel the country’s economic growth.
Four missions have been formulate to drive industry transformation at a large scale
- Encourage industries to innovate and produce more sophisticated products
- To embrace technology and digital transformation to dive into innovative and enhance productivity
- Pushing to net zero through sustainable practices and green initiatives
- Safeguard the economic security and inclusivity via enabling supply chain security
Interventions for high-impact sectors like E&E, Chemical, EV, Pharmaceuticals, Minerals and metal and due to industry’s growing trajectory to the creation high-skilled jobs
Value-added and improvement in automation and technological advancements expected to grow the median salary in the manufacturing sector to reach from Rm1,976 to Rm4,510.
To provide the immediate roll-out of NIMP implementation several mission-base projects have been identify. These fundamental projects are expect to accelerate the developments of an inclusive ecosystem that integrates SME’s into the value chain and rally the entire industry.
The New Industrial Master Plan 2030 expect costing some RM95 billion in total investment over the seven year long plan period of its implementation towards higher value-added activities is expect to provide employment for 3.3 million people through the creation of high-skilled jobs.
Amazon Web Services (AWS) invest in Malaysia by 2037
September 1, 2023 / 0 comments / 673 views / Tags: Economy, Investment, IT, Malaysia, property, property agent, Real estate / Category: Article and lifestyle
Amazon Web Services
Amazon Web Services announced to invest at lease MYR 25.5 billion in Malaysia by 2037.
AWS is a subsidiary of Amazon.com, inc. by 2006.
It is a comprehensive and widely used cloud computing platform that offers a variety of cloud services including computing power, storage, databases, analytics and more.
Infrastructure and services
AWS provides a vast of cloud-based infrastructure and services to individuals and businesses or organisations.
The popular offerings include
- Amazon EC2 ( elastic compute cloud )for scalable victual servers
- Amazon S3 ( simple storage service ) for object storage
- Amazon RDS ( relational database service ) for manage relational databases
- Amazon Lambda for server less computing.
AWS has a global network of data centres and availability zones allowing customers to deploy their applications and services worldwide while ensure redundancy and high availability.
Played a significant role in transforming the IT industry by enable to scale their resources on-demand, reduce infrastructure costs and innovate more rapidly.
What it can bring to country when invests in Malaysia
When Amazon Wed Services invests in Malaysia it can bring several benefits and features to the country. follow are some of the potential advantages;
- Job recreation – often lead to the creation of jobs in various sectors including IT, data centre operations and support services.
- Economic growth – contribute to the country’s economic growth by attracting other businesses startups to use AWS services
- infrastructure development – Invest in local infrastructure networking and data centre facilities to establish and operate data centres and cloud services
- Skills development – typically provides training and certification programs to local IT professionals
- Support for startups – offers support and resources for startups and small businesses, this can encourage entrepreneurship and innovation in Malaysia.
- Reduced latency – having local data centres can reduce latency for businesses and users in Malaysia when accessing cloud services.
- Redundancy recovery – builds multiple data centres in a region which can provide redundancy recovery capabilities to reduce crucial for businesses.
- Attracting foreign investment – AWS’s presence can signal to other international tech companies that Malaysia is a favourable destination for investment to attract more foreign direct investment (FDI) and boost the country’s tech ecosystem.
- Global reach – easily expand their operations globally leveraging AWS’s extensive global network of data centres and services.
However it’s can also be challenges about data privacy and security, potential environmental impacts and competition with local providers.
Government to address these issues ensure that the investment is mutually beneficial for both parties and the Malaysia economy as a whole.
OPR Interest Rate By Bank Negara Malaysia
July 10, 2023 / 0 comments / 1124 views / Tags: Article, bank negara malaysia, Lifestyle, OPR rate, property, property agent / Category: Article and lifestyle
Overnight Policy Rate
Bank Negara Malaysia (BNM) cut its overnight policy rate (OPR) by 25 basis points (bps) to a record low of 1.75% .
- Including latest Overnight Policy Rate cut, BNM has slashed the OPR four times so far this year for a cumulative 125bps reduction
- Jan 22, 2020, BNM cut the OPR by 25 bps to 2.75% followed by another 25bps reducing on March 3 to 2.5%.
- On May 5, BNM slashed the OPR by 50 bps to 2.00 and now with the latest low cut rate of 1.75%.
The Impact of covid -19
Due to the impact of COVID-19 on the global economy is severe. Global economy conditions remain weak with global growth to be negative for the year.
Broad-based weakness in labor markets and precautionary behavior by households and businesses could affect the recovery going forward and the pace and strength of the recovery, however, remain subject to downside risks emanating from both domestic and global factors.
Several major economies have begun relaxing measures to contain the COVID-19 pandemic, leading to the gradual resumption of economy activity.
OPR provides additional policy stimulus to accelerate the pace of economy recovery. The MPC (Monetary Policy Committee) will continue to assess evolving conditions and their implications on the overall outlook for inflation and domestic growth.
Mortgage Reducing Term Assurance (MRTA) – review
June 8, 2023 / 0 comments / 2331 views / Tags: Malaysia, MRTA, property / Category: Article and lifestyle
Mortgage Reducing Term Assurance
MRTA is a reducing term life assurance that provides home financing borrowers with financial protection in the event of premature death or total permanent disability.
MRTA and MLTA are financial terms related to insurance, a specifically mortgage insurance policies.
What is MRTA ?
It is a type of insurance designed to protect borrowers and their families from the financial burden of an outstanding mortgage loan in the even of the borrower’s death or permanent disability during the mortgage term.
- MRTA provides coverage for the outstanding balance of the mortgage loan as the borrower pays off the mortgage over time the sum assured also reduces in tandem with the outstanding loan amount
- In the unfortunate event of the loan borrower’s death or permanent disability, MRTA will settle the outstanding mortgage loan amount relieving the burden on the borrower’s family or dependants.
Benefits and features of MRTA
- Financial security – Provides peace of mind ensuring that the family’s can keep their home even if the borrower passes away or become permanents disability.
- Affordability – Usually more affordable compared to other life insurance policy’s making it accessible to boarder range of borrowers.
- No cash value – Its a pure protection plan without have a savings or investment component, it serves its purpose solely as mortgage protection.
Why do you need it?
This home loan life insurance is essentially a protection mechanism for all people with mortgage, and especially for household with sole breadwinner.
Generally, in the event of untimely death or disability of a housing loan borrower, the greatest problem facing surviving household members is their ability to pay off the outstanding loan.
In many instances, the survive family members may even need to sell off the property at less-than-competitive price just to pay off the outstanding amount.
Surviving family members will not be left with such burden because it covers part or all to the unpaid portion of a housing loan.
MRTA is a life insurance plan with decreasing sum assures over time and it used just to cover your home financing.
There is a personal plan where you and your dependents are financially protected when you are no longer around or have disability to generate income.
Mortgage Level Term Assurance (MLTA)
MLTA is another type of mortgage assurance provides level coverage throughout the policy term, meaning the sum assured remains constant.
- MLTA offers coverage for a fixed amount throughout the policy term and it is not directly tied to the outstanding loan balance. The payout from MLTA remains the same regardless of the remaining mortgage amount.
- Offers more flexibility as the payout can be used for purposes other than setting the mortgage loan. The beneficiaries can use the proceeds to cover others financial obligations or maintain their lifestyle.
On the other hand MLTA are slight variation from MRTA and offers an alternative for borrowers who looking extra protection plus savings by life insurance policies.
MLTA is best for an extra financial protection in the worst case scenario as it also has a cash value at the end of the policy. This is best for those who have many financial dependent like children and spouse.
Benefits and features of MLTA
- The level coverage provided by MLTA ensures that the beneficiaries receive the same payout regardless of the outstanding mortgage amount
- The payout from MLTA can be used for various purposes providing the beneficiaries with financial flexibility to address their needs
- MLTA does not have a savings component
Its importance to note that the specific terms and benefits of MRTA and MLTA can vary depending on the insurance provider, Before deciding on any insurance policy, its essential to carefully review the policy documents, terms and conditions to ensure it aligns with your specific needs and circumstances , Additionally it’s advisable to consult with a financial advisor or insurance expert for personalised guidance.
Which mortgage life insurance do I need?
In Malaysia, there are two types of life insurance available – Reducing Term Assurance (MRTA) or Decreasing Term Assurance (MDTA) and Level Term Assurance (MLTA).
