MRT2, LRT3 and ECRL the ‘drivers’ for H2 2019. Mega nice-to-haves.

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Everyday, I could see feverish work on the MRT SSP (Line 2). I believe it will be completed earlier than the stated. Let’s hope I am right. Due to these construction work, I have been diverted many times and have to take one whole big turning for example. Well, they say it’s inconvenience today for a better tomorrow, so just have to put up with it. By the way, these mega projects including the MRT 2, LRT 3 and even ECRL are key drivers for the economy too. It has a lot of multiplier effect. Of course, just need to make sure what we are building is for the future instead of just some grand schemes which may just turn into a white elephant.

Article in nst.com.my . Maybank Kim Eng Group economist Lee Ju Ye said the H2 2019 will be healthy because of the ongoing mega projects. She mentioned that East Coast Rail Link (ECRL) has been revived and the Klang Valley MRT 2 as well the LRT 3 project that is now ongoing. She said, “There are of course downside risks going into the second half and I think Malaysia will not be spared the China-US trade tensions. Export is still negative and consumer sentiment has been coming down a bit as well as the business sentiment.”

Lee also shared that due to the current China-US trade tensions, Malaysia has emerged as a country which has benefited. Many international firms were thinking of relocating their operations to Malaysia. This was why Malaysia has outperformed most of the other ASEAN countries which recorded a slowdown in the second quarter 2019 (2Q19). Earlier article here on Malaysia’s GDP performance. She shared that the foreign direct Investment (FDI) into Malaysia in terms of approval has surged around 100 per cent in 2018. Article in nst.com.my

I had a good one hour discussion with two leaders in the real estate industry and I think the consensus remains the same. Market is slow without any clear catalyst at the moment. None of us believe we are having a financial crisis but you know, sometimes we just need that sudden spark to start it all. Let’s hope that while these mega projects continue, the sentiment starts improving. As for the government of the day, it’s time to communicate what’s the next catalyst going to be. Happy following, understanding and sharing. Many times, we only share negative news, I wonder why not positive news…

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written on 18 Aug 2019

Next suggested article: Useful is Yes. Expensive is Yes too. MRT Line 3.

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