Ministry has given the green light to the Penang government for the EIA report on the Penang South Reclamation scheme near Teluk Kumbar. The project will take off early next year.
GEORGE TOWN: The state government has secured approval for the Environmental Impact Assessment (EIA) report of the Penang South Reclamation (PSR) scheme near Teluk Kumbar.
It is learnt that the Energy, Science, Technology, Environment and Climate Change Ministry has given the green light, paving the way for the three man-made islands totalling 1,800ha to take shape off the southern coast of the island.
The report incorporates 23 conditions proposed by the relevant government agencies and non-governmental organisations. It is prepared by project delivery partner SRS Consortium.
Among the key conditions are compensating more than 900 fishermen with low-cost houses in the Bayan Lepas area, planting artificial corals to sustain the marine ecosystem around the islands, and sourcing the sand for the reclamation from legitimate sites.
Sources told The Star that SRS Consortium would start reclaiming the first island measuring 930ha in the first quarter of 2020. It will take about three years to complete the first island. The cost to reclaim is about RM60 per square foot.
SRS Consortium will call for a tender to reclaim the three islands in the third quarter of this year.
Sources said the state government would sell some state land via an open tender exercise, while SRS Consortium will internally generate the seed funds to raise about RM2bil to start the reclamation of the first island.
The reclamation for the second and third island will commence when SRS has raised sufficient funds from the sale of the reclaimed land. For serving as the project delivery partner, SRS Consortium will be paid a 6% fee based on the RM46bil construction cost.
However, the state government is negotiating with SRS to reduce it.
More than RM70bil is expected to be raised from the sale of the three man-made islands, enough to spearhead the state’s economic development for the next 30 years.
About 75% of the three islands are for sale via open tender.
Some RM46bil from the targeted revenue will be used for the construction of the RM9bil light rail transit (LRT) line, the RM9.6bil Pan Island Link 1 (PIL 1), and other supporting infrastructure projects under the Penang Transport Master Plan (PTMP).fina
Presently, the price of industrial land on Penang island is around RM70psf-RM200psf, depending on its status as leasehold or freehold land. However, as the industrial lots on the proposed man-made island are freehold land, the pricing is about RM200psf.
When the reclamation of the islands starts in 2020, there could be a 10% appreciation.
On the three islands – Island A (930ha), Island B (445ha) and Island C (323ha) – the plan is to construct a dam and three power plants for the islands and develop industrial, residential properties and state government administrative buildings.
Chow was earlier quoted as saying that Island A is seen as a continuation and expansion of the Bayan Lepas Free Industrial Zone (FIZ) while Island B will be “a playground for city planners and architects to give their best design” with a tram system and green spaces.
Island C is meant for a mixed development project.
The above Video
is about Penang South Reclamation (PSR). We thank Prof. Dato' Dr Zubir
and Puan Zuraini for coming forward to explain the actual situation at
Penang south. Prof. Zubir is an expert on marine science and the former
Director of Centre for Marine and Coastal Studies at Universiti Sains
Malaysia. He shares about his study at the PSR area and his survey among
the fishermen. Puan Zuraini is the officer at Pusat Perkhidmatan
Setempat Nelayan at Penang south. Drawing from her own upbringing as a
daughter of fisherman, she shares about her engagement with local
fishermen in PSR area who are hoping that the project will provide job
opportunities to them and bring development to the rural area.
US President-elect Donald Trump appointed Peter Navarro, a strident critic of China, as head of the new National Trade Council on Wednesday. Most of the Trump's views in his accusation against China during and after the election are influenced by Navarro. Moreover, Trump's special adviser Carl Icahn and Secretary of Commerce Wilbur Ross also take a hard line on the trade with China. The possibility of a potential trade war between China and the US after Trump takes office has come under heated discussion.
Trump’s Top China Expert Isn’t a China Expert
Peter Navarro doesn't speak Chinese, and has scant in-country experience. Should that matter?
University of California at Irvine Economics Professor Peter
Navarro, head of White House National Trade Council nominee for
president-elect Donald Trump, arrives in the lobby of Trump Tower in New
York, U.S., on Thursday, Jan. 5, 2017. A top congressional ally to
Trump said Thursday that Republicans will repeal Obamacare, including
some funding provisions, quickly while a replacement plan is due in "six
to eight months." Photographer: Albin Lohr-Jones/Pool via https://foreignpolicy.com/2017/03/13/peter-navarro-profile-national-trade-council-donald-trump-china-expert/
The issue needs to be considered in the backdrop of a major adjustment of the US policies toward China. At present, there is a glaring contrast between the economic prosperity and political stability in China and the economic downturn and political division in the US, which stings the US policy elites who are steadfast defenders of the US hegemony and its role as the world leader. Those elites tend to believe that the increasingly powerful China has not made the changes approved by the US and is trying to upend the international order shaped by the US.
Thus, it has now gradually become an expectation for the incoming US government to discard the long-standing engagement policy and adopt tougher or more confrontational policies toward China instead.
Against this backdrop, the trade topics closely associated with employment and welfare have become more sensitive but quite effective tools for the China hawks to create an unfriendly public opinion against China. The China-US trade disputes are no longer simply economic topics, but have strong political and strategic implications.
The manufacturing industry is not only the foundation for the US economic recovery, but also the key to solving the unemployment problem and guaranteeing social stability. The imbalance of China-US economic and trade relationship is considered by economists represented by Navarro as the critical reason for the weakening US manufacturing industry. They believe that the current close trade ties have boosted China's rapid development, whereas the hundreds of billions of dollars of US trade deficit with China has led to the current economic woes in the US. They also blame the US manufacturing companies that moved their factories to China for the high domestic unemployment rate.
In other words, the field of trade, which has long been regarded as mutually beneficial, is now considered by advisers of the incoming US government to be detrimental to their country's interests. The US maintains that a major trade policy adjustment needs to be urgently pushed forward to give China a head-on blow.
Although bilateral trade generally works by following WTO rules, the US policy elites, represented by Navarro, maintain that their country's serious inherent economic problems are caused by both China, which fails to address bilateral trade problems impartially, and the US government, which neglects the American public's demands. They keep overstating China's negative role to the American public, and thus have made full preparation for a big policy change toward China in the coming years.
Given the current policymaking atmosphere in the US as well as Trump's picks of advisers, the US has a strong desire to make a major confrontational policy adjustment in its trade with China in the future. However, it still remains uncertain if the adjustment will directly lead to a trade war.
The high interdependence of bilateral trade indicates that any form of trade war provoked by the US will ultimately hurt itself. It is probably difficult for the Trump team to figure out how much self-damage their country is able to withstand.
During the election campaign, Trump denounced the greediness of Wall Street magnates and promised to create new jobs, but, ironically, the officials he appointed after winning the election mostly came from the Wall Street.
China's economic power is no longer as it was before, and its defining power over bilateral relations in trade and all the other aspects is stronger than ever. It is impossible for China to sit back and let the US destroy the mutually beneficial situation in trade. Instead, China will firmly push forward the future bilateral ties under the concept of building a new type of major power relationship.
In contrast to the uncertain US trade policies toward China, China's policies toward the US are clear and concise: get rid of any barriers and push forward bilateral relations in a stable and mutually beneficial direction. The evolution of China-US relationship has always been a process of moving forward and addressing various conflicts along the way. It is hoped "the China-US trade war" will only be a verbal clash, instead of a clash in real action.
By Li Haidong Source:Global Times Published: 2016/12/25 13:43:39
The author is a professor with the Institute of International Relations at China Foreign Affairs University. opinion@globaltimes.com.cn
Right after the G20 summit in Japan, US Senator Marco Rubio made the headlines again by calling for legislation to continue the ban on Huawei, even after US President Donald Trump said he would lift some of the restrictions on US companies doing business with the Chinese tech giant.
Senator Rubio Prepares To Blast China ...
forbes.com
Rubio is a salient representative of the US political extreme. Some US politicians appear to take advantage of the split in US society and are using their extreme political views to gain more voters as well as please different political groups. This actually reflects the increasingly prominent malfunction of US politics.
It is an important reason why China is concerned that the US-launched trade war against China will not end in the short term.
We believe there are rational people who know China well at the US government's decision-making level. Even so, lawmakers like Rubio have gone too far. They are not messing with China but rather wearing down the credibility of US politics.
The US political system is becoming increasingly flawed. Many politicians deliberately act up to firmly oppose anything that would benefit China for the sake of being anti-China. That the political landscape is becoming extreme in the US is providing these politicians with the opportunity to play to their base if they show an open anti-China stance.
Rubio is one such politician. He paints himself as being hostile to China to draw attention. Despite the fact that the trade war and the Huawei ban are harming the interests of the US, Rubio insists on this excessively tough stance toward China because that could spark controversies which could end up favoring him.
This is what Rubio, an unsuccessful candidate for the Republican presidential nomination in 2016, needs to fulfill his political ambitions. Such narrow-minded thinking has de facto escalated the US-launched trade war against China.
Rubio doesn't understand China and probably barely knows China's history. But taking advantage of being anti-China, he can create hot debates and make headlines, and thus gain more assets for his political career.
Even though people who don't know much about the world's second-largest economy can be a senator in the US, it is a joke that someone like Rubio can pretend to be a China hand and comment on China's policies. This is one of the key reasons for the ratcheted-up tensions between China and the US.
The fundamental split in the US political system provides openings for hawkish politicians who have long been hostile toward China. The US is now in the throes of the 2020 presidential campaign, when candidates vie with each other to make outrageous remarks to appeal to their supporters.
This marked increase in radicals in US politics makes it much more difficult for the US government to function normally and for Republicans and Democrats to reach compromises, especially on major issues.
Even though there are signs of China-US trade frictions turning around, as the US political system will not fundamentally change in the short term, China must remain vigilant and prepare for a long-term trade war, in case the hawks gain the upper hand.
By Xu Hailin Source:Global Times Published: 2019/6/30 19:53:39
Stratified property owners given till December 31 to settle dues for 2019
Chow (second right) with (from right) Jagdeep
Singh, State Land and Mines office director Akmar Omar and State
Secretary Datuk Seri Farizan Darus, showing the new bills for the parcel
rent in Komtar, Penang.
OWNERS of stratified properties will now have to pay parcel rent directly to their respective district and land offices.
Chief Minister Chow Kon Yeow said the billing for parcel rent, replacing quit rent, would be sent out to all parcel owners next month through their respective management corporations.
“Previously, it was paid by the respective management corporations of stratified properties.
“Since the bills will be sent out late, parcel owners are given until end of this year to pay up although the deadline is usually May 31 each year,” he told a press conference at Komtar on Friday.
Chow said the parcel rent came into effect since January this year.
He said the rates for parcel rent would be based on the size of each unit, while quit rent was based on the total plot of land which the building was built on.
“Parcel owners will need to update their addresses with the respective district and land offices when paying their parcel rent this year,” he said, adding that the parcel rent billing for next year will be sent to their addresses.
Citing an example, Chow said the total quit rent collected from a specific stratified property last year was RM28,268.
“The collection in parcel rent for the same property will be lesser at RM24,239, as it will not take into account common areas, unlike for quit rent,” he said.
State housing, town, country planning and local government committee chairman Jagdeep Singh Deo, who was also present, said the arrears for quit rent has amounted to RM65mil to date.
Parcel owners are advised to update their mailing addresses at the land and district office or online at etanah.penang.gov.my
KUALA LUMPUR: The performance of Malaysia’s civil service has been declining since 2014, according to a World Bank report, which also expressed concerns about the sustainability of the country’s public sector wage bill.
The report, which came about following the visit of World Bank vice-president for East Asia and Pacific Victoria Kwakwa to Malaysia last December during which she met the Prime Minister, also ranked Malaysia lowly in its indicators for accountability, impartiality as well as the transparency and openness of its public service.
The report – which is included in the World Bank’s six-monthly economic monitor on Malaysia – will be formally launched today.
World Bank lead public sector specialist Rajni Bajpai said that while Malaysia was doing better than others in South-East Asia, there was a very “big gap” in the performance of its civil servants with Organisation for Economic Co-operation and Development (OECD) countries.
She said the report decided to compare Malaysia with the OECD countries as it was hoping to move from a middle-income status country to that of high-income.
“When you compare Malaysia with others in the region, Malaysia has been doing pretty well but we see that the performance has stagnated.
“If you look at the indicator for government effectiveness, Malaysia is still above in the region but in 2018, the performance is below that of between 1991 and 2014.
“If you take the average of that period between 1991 and 2014, it was higher than that in 2018, which means the performance is declining,” she said in an interview.
There were also some indicators in which Malaysia ranked even below the region, said Rajni, adding that this included accountability, impartiality and the openness of its public sector.
“There is a strong perception ... that recruitment of the civil service is not fair and neutral (with) Malaysia scoring very poorly on the indicators for impartiality in the government.
“It’s the lowest ranked, even below the region and way below the OECD,” she said, adding that the government in its election manifesto had suggested setting up an Equal Opportunities Commission meant to tackle discriminatory practices in both the public and private sector.
“Malaysia also scores very poorly on the openness indicators. Malaysia is not a very open economy in the sense that data sharing is a very big problem.
“The government does not share of a lot of data, even within its own departments or with the citizens.
“And citizens’ feedback and voices are not factored by the government into the design of programmes,” she said, adding that the report would suggest the setting up of an institutional and legal framework for open data sharing.
Another indicator that Malaysia performed “not very well”, according to Rajni, was in digitisation and technological advances, which the government had not been able to integrate into its system to provide services.
The report, said Rajni, also focused on another critical element in Malaysia’s civil service, in that the recruitment, which was carried out by the Public Services Department, was overcentralised.
Describing Malaysia as one of the “most overcentralised”, she pointed out that in many countries, this function had been devolved to other departments and even state governments.
“Overcentralisation does not allow for the people who actually need the public servants to do certain jobs ... because they don’t have the right people or the recruitment takes a very long time,” she said.
OECD countries, said Rajni, had been using a competency framework for the recruitment of their civil service, which defined the kind of roles and skills needed in the public sector, rather than taking in people generally for everything.
Among the indicators that Malaysia performed very well were for the ease of doing business – for which Malaysia is ranked 15th – and the inclusion of women in its civil service.
“Women occupied almost 50% of the civil service although there are some issues with women in higher management,” said Rajni.
Other indicators that were highlighted in the report included political stability, regulatory quality, rule of law and control of corruption.
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Malaysia may, to a certain extent, be less
vulnerable with the revival of major construction projects which in view
of the country’s strained finances, have been shrunk to cut costs. The
Singapore economy may undergo a “shallow, technical recession” in the
third quarter.
TALK of recession has hit the region, and near home, Maybank Kim Eng Research is flagging that possibility for Singapore in the next quarter.
Export-reliant economies are hard hit by slowing growth and supply chain disruptions caused by the prolonged US-China trade and tech war.
There may be a ceasefire now in the fight between the US and China following talks between President Donald Trump and President Xi Jinping at the Group of 20 Summit in Osaka last Saturday.
Existing US tariffs on Chinese imports still remain; additional tariffs on the remaining US$300 bil worth of Chinese imports, as threatened, will not be imposed for now
However, the new timeline for truce remains elusive; the suspicion is that of a “creeping” imposition of tariffs, as “each truce is followed by new tariffs and then, another truce.”
In December last year, Trump and Xi had struck a truce following which talks broke down in May this year, and tariffs on US$200bil of Chinese imports leaped from 10% to 25%.
Will there be light out of this tunnel, with harder issues involving tech and supremacy not tackled? Smaller economies with the fiscal and monetary space may be able to cushion their economies somewhat from the downdraft on growth.
Malaysia may, to a certain extent, be less vulnerable with the revival of major construction projects which in view of the country’s strained finances, have been shrunk to cut costs.
The Bandar Malaysia and East Coast Rail Link projects to be revived, are now downsized to RM144bil and RM44bil respectively.
Works for the Light Rail Transit (LRT) 3, from Bandar Utama in Petaling Jaya to Johan Setia in Klang, will resume in the second half of the year, at a reduced cost of RM16.63bil.
Talks are said to be ongoing to revive the Mass Rapid Transit Line (MRT) 3, or MRT Circle Line round the city centre, at possibly RM22.5bil which is half the original cost.
“The timing (of the revival of these projects) has been very good for Malaysia,’’ said Pong Teng Siew, the head of research at Inter-Pacific Securities. “These projects will go on for several years and positively impact the economy over that period.’’
Domestic spending and activities will provide ‘some comfort’ to the local economy but we should ensure that any further monetary easing actually goes into the real economy to support these activities, according to Anthony Dass, head of AmBank Research.
Malaysia’s private consumption was at a record 59.5% of its nominal (calculated at current market prices) Gross Domestic Product, which hit US$88.5 bil in March, 2019, according to CEIC Data.
Benefits from trade diversion from China, the current US tariff hotspot, are offset by downward pressure on global trade where volume was flat in the first quarter, the weakest since the financial crisis.
Global semiconductor sales also declined in February and March, the first back-to-back double digit contraction since the financial crisis.
In view of this decline, the volatile global trade environment and rising geopolitical tensions, open economies “should be prepared for the unexpected,’’ said Nor Zahidi Alias, the associate director of economic research of Malaysian Rating Corp.
The Singapore economy may undergo a “shallow, technical recession” in the third quarter, said Maybank Kim Eng, pointing to possible intensification of supply chain disruptions and US export controls on more Chinese tech firms.
Following the Trump-Xi talks, the US has reversed its equipment sales ban on Huawei but will that ease fears of other similar bans down the road? Defined as two consecutive quarters of negative quarter-on-quarter growth, a recession will prompt further easing of monetary policy in Singapore.
Manufacturing in Singapore, which accounts for a fifth of the economy, fell 2.4%, with electronics dropping 10.8% in May from a year ago; output is expected to decline again in June.
Hong Kong has also been issued warnings of recession, as its economy experienced the largest contraction since 2011, declining by 0.4% in the first quarter against the previous quarter.
Thailand’s economy grew at its slowest pace in four years, in the first quarter, hitting 2.8% from 3.6% in the same period last year; exports remain weak.
Taiwan’s economy avoided contraction in the first quarter but private consumption and gross capital formation slowed significantly while government consumption declined.
In the US, a mis-calibration in interest rate policy by the Federal Reserve can cause a sharper slowdown than expected or bring on a recession.“Monetary policy affects the economy with unpredictable lags, it could be hard for the Fed to time its policy (rate cut) that can prevent a downturn this and next year,’’ said Lee Heng Guie, the executive director of Socio Economic Research Center.
Columnist Yap Leng Kuen notes the reminder to ‘expect the unexpected.’
Even though there are signs of China-US trade frictions
turning around, as the US political system will not fundamentally change
in the short term, China must remain vigilant and prepare for a
long-term trade war, in case the hawks gain the upper hand.
Malaysia
world's No.1 highest civil servants-to-population ratio! Its tenure of
service legally vulnerable but notoriously difficult to dismiss 
