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Tuesday, April 19, 2022

Senior citizens with high-risk comorbidities eligible for second booster shot

Khairy: Currently, the Comirnaty mRNA vaccine (Pfizer-BioNTech) is the recommended vaccine for a second booster dose based on available scientific data. (Photo by Zahid Izzani Mohd Said/The Edge) 
Khairy: Currently, the Comirnaty mRNA vaccine (Pfizer-BioNTech) is the recommended vaccine for a second booster dose based on available scientific data. (Photo by Zahid Izzani Mohd Said/The Edge)

 KUALA LUMPUR (April 14): Senior citizens with high-risk comorbidities are eligible to receive a second Covid-19 booster shot four to six months after their first booster dose, Health Minister Khairy Jamaluddin said on Thursday.

Khairy also said that severely immunocompromised individuals aged 12 and above may receive their first booster jab within 28 days of receiving the second Covid-19 vaccine.

"It is not mandatory but optional, and it will be made through appointments," he told a press conference.

Khairy said those aged 60 and above who are healthy and not at risk for comorbidities should discuss with their doctor whether a second booster vaccination would be recommended for them.

Meanwhile, senior citizens who have received a booster vaccination and have tested positive for Covid-19 can receive a second booster vaccination three months after their full recovery, he said.

The minister said Pfizer-BioNTech Comirnaty's vaccine is the recommended vaccine for a second booster dose based on scientific data available.

On the booster shot for teenagers, Khairy said: "We leave it to the parents to talk to medical practitioners to make a decision. There is no coercion."

The minister said the implementation of this latest recommendation will not affect the full vaccination status of high-risk individuals who do not receive a second booster dose. The Health Ministry is currently updating clinical guidelines detailing implementation, he said.

Khairy said the ministry has also received requests from individuals who want to travel abroad to receive a second booster dose to meet the travel requirements.

"For example, there are some countries in continental Europe that do not recognise Sinovac and Sinopharm vaccines as first and booster doses," he said.

"Therefore, people who want to go abroad can receive a second booster dose at least one month apart after the first booster dose to meet the requirements of going abroad," he said.

As of March 31, a total of 701 individuals had received digital certificates of exemption from vaccination for medical reasons.

These individuals will also automatically receive a booster vaccination exemption.

"Individuals who are not eligible for a booster vaccination for medical reasons, especially the primary Sinovac or Sinopharm recipients or senior citizens who have not yet received a digital vaccination exemption certificate will need to submit a new application.

"They must obtain confirmation from a medical practitioner and then submit an application to the nearest district health department," said Khairy.

Adam Aziz & S Kanagaraju

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Seniors open to second booster dose

PETALING JAYA: Feeling boosted by the protection offered by the vaccine, many Covid-19-conscious senior citizens say they are receptive to taking a fourth dose.

Leong King Soon, 62, and his wife Barbara Teoh, 60, have hypertension and diabetes respectively and with their comorbidities, they are among the senior citizens now eligible to get a fourth shot of the Covid-19 vaccine.

Leong, who took his first booster in December, said he and his wife have so far not contracted Covid-19.

“I have been in close contact with Covid-19 individuals many times as I work as an industrial machine repairman and go to many factories for my job but so far so good.

“Besides taking the standard operating procedure seriously such as wearing a face mask and frequently washing hands, I really think that the three doses of the Covid-19 vaccine I took have kept me protected until now.

“So when the time comes for the fourth dose, I will definitely go get it with my wife,” said Leong.

He added that Teoh, too, had been in close contact unwittingly with Covid-19-positive friends and relatives but she has also been safe so far.

“She only took her first booster last month as she was ill over the past few months and needed her doctor’s clearance,” added Leong.

On Thursday, Health Minister Khairy Jamaluddin said senior citizens with comorbidities can get the fourth shot between four and six months after their first booster, while seniors without comorbidities can get a second booster provided they get approval from their doctor.

Seniors who have received their booster dose but have been infected with Covid-19 will be eligible for a fourth shot three months after they recover.

Leong had this to say: “Get the booster for your own protection and ignore all the negative stories that you hear. People don’t remember the positive stories but like to hang on to the negative ones.”

Trader Saifuddin Omar, 67, who has diabetes and hypertension, also believes that the Covid-19 vaccine he took has protected him from the virus.

“Recently, my daughter and her son, who live with me, got infected but they didn’t know until five days later. We all share the same bathroom and eat at the same table but my wife and I didn’t get infected.

“My daughter and grandson (aged eight) are fully vaccinated and only suffered mild symptoms,” he said.

Saifuddin recalled initially feeling scared last year about taking the vaccine after hearing stories about the side effects.

“But now I see that it does help, I feel encouraged to take the fourth dose of the vaccine and will do so soon,” said Saifuddin, adding that he and his wife had their first booster in January.

Retired teacher B. Parimala, 63, does not have any comorbidities and took her first booster last year.

While seniors without comorbidities can get a second booster with their doctor’s approval, Parimala said she would rather wait.

“I was a science teacher so I keep up to date with the latest news about the vaccine.

“I recently read that boosting too often and with the same type of vaccine could reduce one’s immunity, especially against new variants.

“So I’d rather wait than go for the second booster now,” she said.

Parimala, too, warned against adopting a lackadaisical attitude towards Covid-19.

“Long Covid is no joke. My former colleague has such bad scarring on her lungs that she gets winded just walking a short distance. We should all continue to keep ourselves protected,” she said. 

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Regaining momentum, property sector to recover despite challenges

 


WITH the country finally transitioning into endemicity, the Malaysian property market is expected to regain its momentum this year.

However, despite the better economic growth recovery projected for 2022, the National Property Information Centre (Napic) has cautioned that the environment still remains challenging.

“The health of the residential sector is paramount to the overall performance of the property market,” Napic says in its 2021 property market report.

“The transition to the endemic phase of Covid-19 starting April 1, 2022, will see the lifting of restrictions of business operating hours and the reopening of country borders, which is expected to further improve domestic economic activities and entail better prospects for the leisure sector,” it adds.

Napic emphasises that the transition phase is a much-needed boost for the local property market.

“This will translate into better occupancy of hotels apart from creating employment opportunities for the locals.

“Nevertheless, the environment will remain challenging for the retail and office sector as more new supply enters the market in the near future.”

As the industry normalises and adapts to the new norms of working from home and market digitalisation, Napic says the office and retail sectors may continue to face downward pressure in 2022.

“On the development front, major ongoing infrastructure projects are expected to spur economic activities and the property market in the long run.”

As the economy is set to be on the right trajectory, Napic says the property market’s performance is expected to be on a similar track.

Accommodative policies

“The accommodative policies, continuous government support and execution of all planned measures outlined in Budget 2022 and proper implementation of strategies and initiatives under the 12th Malaysia Plan are expected to support growth in the property sector,” it says.

According to Napic, the residential sub-sector led the overall property market activity in 2021 with a 66.2% contribution in volume.

There were 198,812 transactions worth Rm76.90bil recorded in the review period, which was an increase of 3.9% in volume and 16.7% in value year-on-year.

The improvement was supported by the uptrend recorded in Kuala Lumpur (4.9%), Selangor (10.7%), Pulau Pinang (16.3%) and Perak (3.2%). Conversely, Johor recorded a decline in market activity by 2.4%.

The primary market saw fewer releases of new launches. There were nearly 44,000 units launched in 2021, against 47,178 units in 2020.

Napic says the decline was expected as developers held back on the new launches due to the softening property market and increasing numbers of unsold inventories.

Sales performance was moderate at 39.3% in 2021.

A property analyst says the property market will, as always, continue to be driven by the residential sub-sector.

“Even without the Home Ownership Campaign (HOC), there is renewed enthusiasm among purchasers and buyers – something that was lost over the last two years as a result of the Covid-19 pandemic.”

To help spur the property market, the government introduced the HOC in June 2020 under the Penjana initiative.

The campaign ended on Dec 31, 2021. Many industry observers and property players believed that the HOC was indeed a huge help to the market and urged the government to extend the campaign period into 2022.

Following the conclusion of the HOC, Hong Leong Investment Bank (HLIB) Research says the “tables have turned” in favour of the affordable housing segment.

Comparative advantage

“Prior to the introduction of the HOC, the affordable housing segment enjoyed stamp duty exemption for property value up to RM500,000.

“With the introduction of the HOC, the affordable segment lost its comparative advantage as the stamp duty exemption was extended to property value up to Rm1mil,” it says in a recent report.

HLIB Research notes that in 2021, when the HOC was still in place, the percentage of residential transactions below RM500,000 had declined, likely due to home buyers rushing to take advantage of the HOC campaign before it ended on Dec 31.

“With the ending of the HOC, the tables have once again turned in favour of the affordable housing segment, as purchases in this category will continue to enjoy stamp duty exemptions.

“Even during the HOC campaign, the affordable housing segment was still the most demanded segment, comprising more than 75% of the number of residential transactions.”

Citing the Statistics Department, HLIB Research says as much as 20% or 580,000 households from the M40 households had shifted to the income limit of the B40 group in 2020.

“The broadening base of the lower-income group, coupled with the rising living cost from inflationary pressure, especially on the food cost, will bolster demand within the affordable home segment, as home buyers will likely opt for affordable housing due to income constraints.”

Meanwhile, RHB Investment Bank says inflationary pressures and the timing of the election could swing sentiment.

“On the macroeconomic front, we are also cautious on rising inflationary pressure, which may potentially dampen household disposable income.”

Apart from the expected increase in interest rates in the second half of this year, the research house points out that food and consumer product prices are also on the rise, which is in line with commodity prices.

“Given that the market has just recovered from last year’s lockdown, demand for property may be negatively affected if inflationary pressures worsen further, as property is deemed a big-ticket item that is considered non-discretionary.”

Given the conclusion of the state elections in Melaka, Sarawak and Johor over the last six months, RHB Investment Bank says some political parties are calling for the next general election to be held soon.

“Historically, the performance of most property stocks tend to be lacklustre six months prior to an election, possibly due to the uncertain outlook and potential policy changes after an election.

“As the next general election is due by July 2023, we think speculation will be rife in the coming months on the timing of the event.”

Rising building costs

HLIB Research notes that building materials costs have been rising persistently since 2021.

“From what we gathered, key raw materials such as steel and cement have risen more than 20% on a year-on-year basis.”

Under such a rising cost environment, the research house says property developers that will fare relatively better are those that outsource their construction work to third parties.

“This is as their construction cost will be locked in at a lower cost (amid the rising cost environment) when the job is outsourced.”

For new launches, HLIB Research says developers will likely be able to outsource the jobs at competitive prices.

Competitive job tenders

“This is because new job tenders among contractors will likely be very competitive (due to fewer job tenders available), as developers are more cautious in their launches due to the subdued property sentiment.”

In order to secure jobs to ensure positive cash flow, HLIB Research says contractors may be willing to sacrifice some margin to win job tenders from developers.

“Besides this, developers that enjoy high take-up rates in their launches are also those that are likely to have better pricing power, enabling them more flexibility to adjust selling prices to sustain their margins.”

RHB Investment Bank also acknowledged that major commodity prices, such as crude oil, steel bars, copper and aluminium saw significant price hikes.

“The resulting price increases in cement, sand, tiles and related products collectively added to the surge in total construction costs.”

Assuming the uptrend in commodity prices persists over the next six-to-nine months, RHB Investment Bank says developers will tend to be more prudent with their launches.

“Developers will likely resize or redesign, as well as maintain the selling prices and affordability of their products or look for alternative construction materials that are cheaper in an effort to mitigate cost pressure.”

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NAPIC: Property market expected to regain momentum in 2022