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Monetary Policy Committee (MPC) meeting today

Monetary Policy Committee (MPC) meeting today
At the Monetary Policy Committee (MPC) meeting today, Bank Negara Malaysia decided to maintain the Overnight Policy Rate (OPR) at 3.00 percent. In the recent months, global economic and financial conditions have deteriorated following the escalation of the sovereign debt crisis in Europe, the ongoing fiscal consolidation and the significant policy uncertainties. Heightened market volatility, impaired financial intermediation and weak labour market conditions continue to weigh down on growth in the advanced economies. These conditions pose downside risks to global growth. In Asia, while growth continues to be supported by sustained domestic demand, the growth momentum has moderated amid the weaker external environment.

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Residents want swift action on eroding slope

Residents want swift action on eroding slope
Residents of the Nova 1 condominium in Taman Sri Sinar, Kuala Lumpur breathed slightly easier on Jan 11, as contractors appointed by the Kuala Lumpur City Hall (DBKL) arrived that morning to shore up an eroding slope next to their residence. According to Patrick Chan Yew Choong, a member of Nova 1’s management corporation (MC), the soil erosion was taking place on the piece of land next to Nova 1. Residents feared if the erosion continued, it could have negative consequences for the land which Nova 1 was built on. Pointing to the retaining wall which separated Nova 1 from the road, he said further erosion could cause the wall to crack, and give way if corrective action was not taken.

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Pulau Pinang excos declare own assets

Pulau Pinang excos declare=
GEORGE TOWN: Chief Minister Lim Guan Eng and his state executive councillors have made a public declaration of their assets. The declarations of Guan Eng, Deputy Chief Ministers I Datuk Mansor Othman and II Dr P. Ramasamy and exco members Chow Kon Yeow, Phee Boon Poh, Lydia Ong, Lim Hock Seng, Wong Hon Wai, Law Choo Kiang, Danny Law and Abdul Malik Abul Kassim as on March 8, 2008 and Dec 31, 2011, were distributed to the media in Komtar yesterday. According to the declaration, Guan Eng's investment in Amanah Mutual Bhd showed a slight increase from 112,843 to 124,845 units between March 2008 and the end of last year.

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Compensation for damage caused by public property

Residents can seek compensation for damage caused by public property
People can initiate insurance claims for any damage or injury caused by public property or in public premises in Petaling Jaya, said Petaling Jaya mayor Datuk Mohamad Roslan Sakiman. Street trees that fall in a thunderstorm causing damage to property, motorists suffering injuries after driving into potholes, children getting hurt due to defective playground equipment could be the factor to initiate an insurance claim for compensation. Petaling Jaya City Council (MBPJ) has awarded RM148,245 to claimants from 2009 to 2011, for various cases involving damage to vehicles going into potholes, trees falling on private property in a storm and children hurt at playgrounds.

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Klang Valley elite enclaves in the making

Klang Valley elite enclaves in the making
WITH the rise of luxury property developments all over the Klang Valley, picking the next elite residential address may not just be confined to paying over RM1,000 per sq ft. While elite enclaves like Bukit Tunku, Taman U Thant as well as certain sections of Damansara Heights may offer snob appeal to wealthy property buyers, such neighbourhoods may not necessarily have everything that today’s lifestyle expectations demand. For instance, iconic architecture and integrated facilities. Residential property specialist Chan Ai Cheng picks several upcoming developments that will shape up to be elite residences when completed.