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Elvina @ Balik Pulau

Balik Pulau/ 2 August 2021 No comments

elvina-balik-pulau-terrace

Elvina @ Balik Pulau, a small landed residential development by JKP Sdn. Bhd. at Balik Pulau. Located on 1.9 acres are land along Jalan Sungai Nipah 2, adjacent to Balik Pulau Vocational College. It is about 3km from Balik Pulau Town Centre, within 30 minutes drive to Bayan Lepas Free Industrial Zone. Other surrounding amenities include public schools, Mara College, sports center, wet market and eateries.

This development will feature 24 units of 2-storey terrace and 2 units of 2-storey semi-detached houses.

Project Name : Elvina @ Balik Pulau
Location : Balik Pulau
Property Type : Terrace and semi-detached
Built-up Size: (to be confirmed)
Total Units: 24 (terrace), 2 (semi-detached)
Indicative Price: (to be confirmed)
Developer : JKP Sdn. Bhd.

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DISCLAIMER: This article is solely based on research done using publicly available data. This is not an advertisement. Any claim, statistic, quote or other representation about a project or service should be verified with the developer, provider or party in question.

Underpass in Gelugor to close for maintenance

Property News/ 2 August 2021 No comments

gelugor-underpass

The Udini underpass in Gelugor, Penang, will be closed during certain hours for six days to undergo maintenance.

Penang Island City Council said in a statement that the underpass between Jalan Masjid Negeri and Jalan Tunku Kudin would be off limits to all vehicles from Aug 14 to Aug 19 from midnight to 5am.

“The underpass closure is to allow the appointed contractor to carry out maintenance, cleaning and repainting of the anti- carbonation layer.

“The closure will happen only at night.

“The underpass will be fully open during the day,” the city council said.

For enquiries on the closure, call Mohamad Luqman Hakim Mhd Nazari (04-259 2228, 018- 940 0734), Azhar Mohd (04-259 2193, 019-446 4460) or Siti Norhana Hashim (04-259 2193, 013-446 1322).

Source: TheStar.com.my

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UPCOMING: Sungai Bakap / Dutamas Warisan Sdn. Bhd.

Sungai Bakap/ 1 August 2021 No comments

proposed-by-dutamas-warisan.

Yet another proposed light industrial development at Valdor in Sungai Bakap. Undertaken by Dutamas Warisan Sdn. Bhd., the development will be located on a 22-acre land off Jalan Nafiri, adjacent to Nafiri @ Valdor light industrial scheme by GUH Realty Sdn. Bhd. It is only 5km to Batu Kawan Industrial Park, about 10 minutes drive to Penang Second Bridge.

This development will feature 53 units of single-storey light industrial factories with 2-storey of office space.

The project is still pending approval. More details are to be available upon official launch.

Project Name : (to be confirmed)
Location : Sungai Bakap
Property Type : Light industrial factory
Total Units: 53
Land Tenure: Freehold
Target Completion: (to be confirmed)
Indicative Price: (to be confirmed)
Developer : Dutamas Warisan Sdn. Bhd.

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DISCLAIMER: This article is solely based on research done using publicly available data. This is not an advertisement. Any claim, statistic, quote or other representation about a project or service should be verified with the developer, provider or party in question.

South Korea’s Simmtech to invest RM507.6mil in factory at Batu Kawan

simtech-batu-kawan

South Korean semiconductor giant, Simmtech Holdings Inc., has chosen Penang as the strategic location to build its ‘first in the region’ printed circuit board (PCB) and packaging substrate factory.

Simmtech’s Phase One investment in Penang, through its subsidiary Sustio Sdn Bhd, is US$120 million (RM508 million).

Simmtech Southeast Asia managing director Jeffery Chun said the construction of the factory on an 18-acre site in Batu Kawan, Penang, was currently ongoing.

“We have spent many years looking for the right location to expand our business. We are now operating in our home country Korea, as well as in China and Japan.

“Our future factory in Penang will enable us to bring our products closer to our customers in this region.

“The construction works are scheduled to complete by early next year. We hope to begin operating and making shipments from our new factory by the first half of next year,” he said in his speech during the investment announcement held virtually today.

Chun said Penang has a very well-established electronics industry ecosystem.

“We are able to access the resources and local businesses here. The state is full of great talents, and it has a strong customer base. Penang also has a dynamic and growing semiconductor industry.

“That was why we chose to invest in Penang,” he said.

Chun added the company recognised the current challenging pandemic period.

“We are in close communication with the local and Federal authorities, following the standard operating procedures (SOPs).

“However, we do not see major delays in our construction project,” he said.

He revealed that the Covid-19 pandemic brought more opportunities to the semiconductor market.

“There are increasing demands for data storages with the increase in online data transactions during this trying period.

“There are more demands for computer chips and mobile chips. This is a great period for the semiconductor industry as a whole,” he said.

On Simmtech’s investment in Batu Kawan, Chief Minister Chow Kon Yeow said the new facility could create 1,200 high-value jobs in engineering, manufacturing, and quality management.

“I am hopeful that with Simmtech’s arrival, this is the beginning of a new chapter with Korea – one of the prominent countries in the global technology sphere.

“The Penang government has placed emphasis on attracting companies with strong commitments in developing cutting-edge technologies and sustainable investing. Those commitments are part of our efforts to cement Penang’s position as a hub for advanced manufacturing.

Chow said that Penang continues to be the country’s leading Electrical and Electronics (E&E) hub and a key pillar of Malaysia’s external trade.

“In 2020, Penang recorded a commendable RM310 billion of exports and RM110 billion of trade surplus; contributed 32% and 60% of the country’s said total, respectively.

“Notably, Penang’s E&E exports were valued at RM231 billion in 2020, which formed more than half of the country’s total,” he said.

Source: Buletin Mutiara

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More homeowners selling property for cash flow

Property News/ 30 July 2021 1 comment

market recovery

Malaysia’s property supply growth in the market spiked by 34.53 per cent year-on-year (YoY) and 11.94 per cent quarter-on-quarter (QoQ) in the second quarter of 2021 (Q2 2021), driven by more homeowners selling property for cash flow, according to PropertyGuru’s latest Malaysia Property Market Index (MPMI).

In a statement, PropertyGuru Malaysia said the surge in property supply in the country in Q2 2021 is likely driven by an increase in the number of houses being put up for sale in the secondary market under the current economic climate.

The upward trend in property supply is observed across four key regions, namely Kuala Lumpur, Selangor, Penang and Johor, which saw a YoY increase of 16.91 per cent, 48.95 per cent, 40.32 per cent and 17.47 per cent, respectively.

In three of the four key markets covered by the MPMI, positive growth was observed for asking prices in Q2 2021, indicating some form of price stabilisation for Kuala Lumpur, Selangor and Penang.

Asking prices moved upwards by 1.56 per cent QoQ in Kuala Lumpur, 1.18 per cent QoQ in Selangor and 0.95 per cent QoQ in Penang, while Johor was the only state that registered negative growth, dipping slightly by 0.15 per cent QoQ in Q2 2021.

It said the prolonged COVID-19 situation has significantly impacted the property market, as reflected in the asking prices of primary and secondary property markets tracked by the MPMI.

The PropertyGuru Malaysia Property Asking Price Index has been on a declining trend since Q2 2020 with a YoY drop of 2.16 per cent.

Country manager Sheldon Fernandez said due to the COVID-19 pandemic, those, who are cash-strapped, might still resort to selling their properties even though a six-month moratorium on bank loan repayments was introduced.

“We may see more residential supply making its way into the secondary market, resulting from those who wish to cash out on their property investments to alleviate current financial burdens,” he said.

He said property supply volume from the primary market may also be affected in the coming quarter due to the recent implementation of a total lockdown nationwide in June 2021, which has disrupted the construction and property development sectors.

Fernandez believes that the property sector outlook will remain gloomy for the rest of the year unless any significant signs of recovery to the property sector can only be expected once the nation is better positioned to achieve herd immunity with the ramp-up of COVID-19 vaccination.

Source: Bernama

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