EVENING 5: MRT Corp teams up with HK’s MTR Corp

The Edge TV

In today’s edition of Evening 5 — MRT Corp inks an MoU with Hong Kong's MTR Corp to undertake a mixed development project near the RTS Link station in Johor Bahru. Meanwhile, Astro will offer VSS to all its staff to enable it to focus on core business activities and improve its financial performance.

Transcript

00:00 MRT Corp has inked an MOU with Hong Kong's MTR Corp to undertake a mixed development

00:09 project in Bukit Cagar, Johor Bahru.

00:12 The project will be developed on a plot of land adjacent to the Johor Bahru-Singapore

00:16 RTS Links Bukit Cagar station.

00:19 The mixed development, on a six-acre land with 3 million square feet of gross floor

00:24 area, will have a GDV of at least RM3 billion.

00:28 It is expected to take at least five years to complete, with a master plan to be unveiled

00:33 by the end of this year.

00:34 MRT Corp CEO Datuk Mohamad Zarif Hashim said, leveraging on the RailPlus property model

00:40 adopted by Hong Kong, the intended mixed development is expected to transform the area into an

00:46 attractive destination for both local and international investors.

00:50 Meanwhile, Transport Minister Anthony Lok Siu Fook said Bukit Cagar is a potential catalyst

00:56 for economic growth in the Johor Bahru region and presents an opportunity to turn the area

01:01 into a central business district in the state.

01:04 This he said is part and parcel of the government's strategy to turn Johor Bahru into an important

01:10 economic city.

01:16 Astro Malaysia Holdings is offering a voluntary exit option to all its employees, in a bid

01:22 to strengthen its position in an environment that is experiencing an unprecedented rate

01:27 of disruption.

01:28 In a filing with Bursa Malaysia, its CEO Ewan Smith said, in an increasingly borderless

01:34 and digital world, competition is relentless, especially in a challenging economic landscape.

01:41 To support its ongoing transformation, the group will be undertaking a Voluntary Separation

01:46 Scheme or VSS that will allow it to focus on core business activities and improve its

01:51 financial performance by simplifying the organisation, streamlining operations and reducing operating

01:58 expenses.

01:59 Astro said it is putting in place measures to ensure that customer experience will not

02:03 be impacted by this exercise.

02:05 It said it has rolled out a transition programme that will provide the right support to employees

02:11 who opt for the VSS, including coaching and skill upgrading training programmes.

02:21 PM Chairman Tan Sri Muhyiddin Yassin filed a defamation suit against Dato' Sri Anwar

02:26 Ibrahim regarding the current PM's comments on the Felda Settlers' debt fiasco.

02:32 The former PM is alleging that Anwar, who is also Finance Minister, had uttered the

02:36 defamatory words at the Felda Settlers' Day 2023 celebration on July 7 and at the

02:42 UUM dialogue session on July 8.

02:45 In his claim, Muhyiddin is seeking general, aggravated and exemplary damages commensurate

02:50 with the RM200m compensation that Anwar demanded from him.

02:55 Last week, Anwar, in reply to Muhyiddin's letter of demand, had indicated that he was

03:00 seeking RM200m from Muhyiddin, who is a former PM, for damaging his reputation and told the

03:06 Pagoh MP to retract his letter of demand and apologise.

03:10 Muhyiddin's suit was filed at the Kuala Lumpur High Court by MSS Roslidah-Lansarawana partnership

03:15 last night, just ahead of nomination day in the six state elections tomorrow.

03:21 BMI, a Fitch Solutions company, has forecast Malaysia's inflation to fall back to the

03:30 10-year average of 2.0% by year-end.

03:33 That's lower than the research firm's previous forecast of 2.5%.

03:38 In a note, the firm consequently revised down its forecast for average inflation for this

03:43 year from 2.9% to 2.7%, which is much lower than the 2022 average of 3.4%.

03:51 BMI expects Banggara to stand pat during the upcoming meeting in September and said the

03:56 central bank is likely to lower its current headline inflation forecast of 2.8% to 3.8%

04:02 for 2023.

04:04 According to BMI, headline inflation should continue easing due to high base effects from

04:10 last year's surge in global food and energy prices triggered by the Russia-Ukraine war.

04:15 It said government subsidies and price control measures will also help to place an implicit

04:20 cap on further price increases.

04:27 Malaysian households' average monthly expenditure rose at a faster pace than their gross income

04:32 between 2019 and 2022.

04:35 The Department of Statistics Malaysia said this was mainly underpinned by spending on

04:39 housing and utilities, food, restaurants and hotels, as well as transportation.

04:44 On average, a survey by the department shows households spent RM5,150 per month in 2022

04:52 up 3.7% from 2019.

04:55 In addition to household income, part of the expenditure was financed by non-income receipts,

05:01 such as government aid and special withdrawals of savings through the EPF.

05:05 In terms of income, the survey shows the average household income grew at 2.4% compounded annual

05:11 growth rate or kega to RM8,479, slower than the 4.2% rate recorded in 2019.

05:20 Median income grew at a kega of 2.4% to RM6,338 in 2022 from RM5,873 in 2019.

05:31 [Music]

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