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Malaysia s Total Lockdown: Critical Construction Works Allowed - Real Estate and Construction
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Total lockdown: critical construction works exempted
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I READ with interest an article on the use of Green Card IDs for construction workers, which also doubles as a payment card for its users. This is a commendable collaborative effort between Bayo Pay (M) Sdn Bhd and the Construction Industry Development Board of Malaysia (CIDB) in developing a digital Green Card ID.
I immediately saw that there could be so many potential opportunities from this innovative card idea, particularly for the workplace. That a homegrown fintech company has developed this creative financial solution that can help construction companies and also its workers in terms of payment solution is laudable. More importantly, another government agency i.e. CIDB has chosen the digital solutions way by introducing the dual-purpose Green Card, which not only operates as an ID for construction workers but also as a payment card that runs on the MasterCard platform. I read in an earlier news report that this initiative allows CIDB to have better control over sec
Bintai Kinden acquires Johnson Medical to expand healthcare business 12 Apr 2021 / 21:06 H.
PETALING JAYA: Bintai Kinden Corp Bhd, which aims to include healthcare as one of its core businesses, is acquiring Johnson Medical International Sdn Bhd for RM50 million to expand its healthcare business segment.
The company yesterday entered into a memorandum of understanding (MoU) with the vendor Yeo Eng Lam to acquire the entire stake in Johnson Medical. The proposed acquisition would be satisfied via a combination of cash amounting to RM26 million and the issuance of 58.54 million new shares in Bintai Kinden at 41 sen each.
Pursuant to the MoU, Bintai and the vendor have mutually agreed to negotiate exclusively in good faith on the structures and terms of the proposed acquisition with the intention to finalise and enter into the relevant definitive agreements within 30 days from the date of the MoU or such other longer period as both parties may mutually agree upon.
The construction sector is one of the economic sectors that is permitted to operate during the second Movement Control Order (MCO 2.0). As such, on 14 January 2021 the Construction Industry Development Board of Malaysia s website published the standard operating procedure (SOP) that companies with permission to operate during MCO 2.0 must comply with when carrying out construction works (Construction SOP). This article discusses the key points of the Construction SOP.
Only critical construction works allowed
The Construction SOP stipulates that only critical construction works as specified in the Ministry of Works press statement of 12 January 2021 may be carried out during MCO 2.0 (for further details please see MCO 2.0: critical construction works allowed ).
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