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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