Would you believe that a three-storey house with a build-up area of 800sq ft or 1,500sq ft can be built within four weeks and come with a selling price of RM250,000 and RM395,000 respectively in Penang Island?

Well, that is what a housing developer, Slimhaus Technology Sdn Bhd, plans to do at the end of this year or beginning of next year.

Chief Minister Chow Kon Yeow, who attended the preview launch of the proposed affordable housing project, congratulated Slimhaus for going to use the industrialised building system (IBS) technology to build a total of 199 terrace units on a 7.2-acre land at Jalan Pantai Acheh in Balik Pulau.

“We had built affordable landed houses before but for affordable landed and IBS type, this is probably the first project in Penang. By using the IBS system puts Slimhaus Technology Sdn Bhd amongst other developers who have chosen to use this technology.

“This (technology) is not new. But to be able to build and complete a three-storey house within four weeks using prefabricated components is something we have not yet seen here. So, congratulations for achieving this milestone and revolutionising the construction industry.

He added that prefabricated concrete homes had been built in Rifle Range and Noordin Street Ghaut.

State Local Government, Housing, Town and Country Planning Committee chairman Jagdeep Singh Deo, who was also present, said he was delighted that Slimhaus was going to participate in building more affordable homes in the state.

“The provision of affordable housing is one of the priorities in the Penang2030 vision outlined by the chief minister some three years ago.

“The state has increased its target of building 180,000 affordable homes to 220,000 units by 2030.

“Until today, we have reached 117,000 units. Out of this figure, 40,000 units had already been built, 19,000 are being built and 58,000 have been approved to be built.

“I’ve been advising housing developers to build more affordable homes for Penangites.

“It’s not easy but from the overhang of 3,000 units in Penang, only 60 units were from the low-cost category.”

Slimhaus Technology chief executive officer Gerald Chin said his company has come a long way to realising his dream of building decent and affordable homes.

He said Slimhaus has plans to build 40 units (1,500sq ft) and 100 units (800sq ft) for the first phase and the remainder 55 units for the second phase. The three-storey terrace houses, he said, would be gated and freehold.

He expects the ground-breaking ceremony to be held at the end of this year or beginning of next year and the whole project would take eight months to complete.

So far, Chin said they have received 70% registration for the project which would be built first before the houses are sold. He said only those earning less than RM10,000 per month (or combined earnings) could only qualify for the affordable homes.

He said Slimhaus is the first company in Malaysia to use prefabricated steel frame for the project.

Also present at the preview launch ceremony were state Entrepreneurial Development, Trade and Industry Committee chairman Datuk Abdul Halim Hussain, who is also the Batu Maung assemblyman, Bayan Baru MP Sim Tze Tzin, and Slimhaus Technology directors Cheng Kwong Whee and Kua Soo Leong.

Source: Buletin Mutiara

Senior Minister (Security Cluster) Datuk Seri Ismail Sabri Yaakob today announced that the government will be enforcing the movement control order (MCO) on three district and subdistricts in Penang.

Ismail said in Penang the areas affected are the districts of Timur Laut, Seberang Perai Tengah and Seberang Perai Selatan as well as the sub-districts of Mukim 12 in Barat Daya and Bandar Butterworth and Mukim 14 in Seberang Perai Utara.

Residents of a condominium in Sungai Ara today lost in their appeal to set aside the decision of the Penang Island City Council (MBPP) in granting planning permission to a property developer to develop a housing scheme on a hillslope.

In dismissing the appeal, Court of Appeal judge Datuk Yaacob Sam, who chaired a three-member panel, said the court agreed with the High Court’s findings and affirmed its findings and decision.

“We find there are no merits in the appeal which warrant us to exercise our appellate intervention. We unanimously dismiss this appeal,” he added.

Justice Yaacob said the court agreed with the submission by counsel Datuk Dr Cyrus Das, representing Sunway City (Penang) Sdn Bhd, that the structure plan prescribed general policies for development within the Penang state and is not to be treated as a piece of legislation.

He said the principle that the planning policies in the structure plan needed not be slavishly followed by MBPP, as a local planning authority, when dealing with the planning permission application.

Presiding with him were Justices Datuk Abdul Karim Abdul Jalil and Datuk Lau Bee Lan.

The residents of the Sunrise Garden Condominium, represented resented by lawyer Datuk Dr Gurdial Singh Nijar, was appealing against the Penang High Court’s decision in May 2017 which ruled in favour of Sunway City.

On May 29, 2017, the High Court allowed a judicial review filed by Sunway City and quashed the decision of the Penang Appeal Board in setting aside the planning permission given to Sunway City to develop the land into a gated and guarded housing scheme.

MBPP had approved Sunway City’s application for the proposed development in Feb 2012.

The land measuring a total area of 32.7 hectare is situated within the Sungai Ara area at an elevation of more than 76 metres above sea level with a gradient exceeding 25 degrees.

The residents appealed to the Penang Appeal Board against the granting of the planning permission by MBPP and in Jan 2016, the Appeal Board set aside the planning permission granted to Sunway City.

Being aggrieved and adversely affected with the decision of the Appeal Board as Sunway City would be unable to proceed with the proposed development on the land, the company filed a judicial review at the Penang High Court.

Sunway City named the board, MBPP and the residents as respondents in its judicial review.

In the judicial review, the developer, sought among others, to quash the Appeal Board’s decision and a declaration to maintain the planning permission granted by MPBB to Sunway City.

Source: Bernama

Golden Land Bhd’s industrial deve­lopment Golden Gateway in Batu Kawan, Penang, has achieved a take-up rate of 75% since its launch in 2018. According to the developer, the project has seen transactions during the Movement Control Order (MCO) period.

“So far, the development has attracted investors and small and medium enterprises (SMEs), mainly local owner operators,” says Golden Land Bhd CEO Stewart Yap.  “We are confident that Golden Gateway will continue to do well, especially with the growth in logistics and industrial segments today.”

Golden Gateway comprises 3-storey semi-detached and detached factories and is due to be handed over in June this year. The units have a unique design: four of their main components are a factory area, an area for unloading, a showroom and an office. They are a modern approach to modern enterprise and their multifunctional layout will create good workflow.

Sitting on a freehold, 21-acre tract to the southeast of Batu Kawan, Golden Gateway has a gross development value of RM180 million. It consists of 52 plots for 3-storey semi-detached factories and two plots for 3-storey detached factories.

The semi-detached and detached units have built-ups of 5,500 to 8,000 sq ft with prices from RM3.2 million.

Apart from its accessibility from the North-South Expressway and Juru Interchange, Golden Gateway has a toll-free route from Nibong Tebal/Jawi to Batu Kawan. Golden Gateway will be located next to future developments at Batu Kawan, such as IKEA, KDU University College, Columbia Hospital, theme parks and malls.

Source: TheEdgeMarkets.com

Bank Negara Malaysia (BNM) has kept the overnight policy rate (OPR) unchanged at 1.75%, as widely expected by economists, noting that global economies continued to strengthen, including Malaysia.

For Malaysia, BNM said the latest indicators point to continued improvement in economic activity in the first quarter of the year, and into April. “While the recent reimposition of containment measures in select locations will affect economic activity in the short term, the impact will be less severe as almost all economic sectors are allowed to operate,” said BNM in a statement after its Monetary Policy Committee (MPC) meeting today.

Reuters previously reported that all 13 economists it polled saw the central bank keeping the OPR at its record low to help support the economy’s recovery as coronavirus cases rise even as it had benefited from strong external demand.

In its statement, the central bank said the growth trajectory is projected to improve, driven by a stronger recovery in global demand and increased public- and private-sector expenditure amid continued support from policy measures.

“Growth will also be supported by higher production from existing and new manufacturing facilities, particularly in the E&E (electrical and electronics) and primary-related sub-sectors, as well as oil and gas facilities,” it said, adding that the progress of the domestic Covid-19 vaccine programme will also lift sentiments and contribute towards the recovery in economic activity.

On the global front, BNM said the global economic recovery continued to strengthen, particularly in major economies, supported by improvements in manufacturing and trade activity.

The ongoing roll-out of vaccination programmes and sizeable fiscal stimulus measures in the US, as well as policy support in other major economies, will further facilitate an improvement in domestic demand, it noted.

The growth outlook, however, remains subject to downside risks, it said, stemming mainly from ongoing uncertainties in developments related to the pandemic and potential challenges that might affect the roll-out of vaccines both globally and domestically.

It also cautioned that the recovery trajectory of some economies could be disrupted by tightening of containment measures to curb Covid-19 resurgences.

“The balance of risks to the growth outlook remains tilted to the downside, due mainly to uncertainty over the path of the pandemic as well as potential risks of heightened financial market volatility,” it said.

Headline inflation to average higher at 2.5%-4%
On Malaysia’s 2021 headline inflation, it is projected to average higher at between 2.5% and 4%, primarily due to the cost-push factor of higher global oil prices.

“In terms of trajectory, headline inflation is anticipated to temporarily spike in the second quarter of 2021, due particularly to a lower base from low domestic retail fuel prices in the corresponding quarter of 2020.

“However, this will be transitory as headline inflation is projected to moderate thereafter as this base effect dissipates,” it said.

Nonetheless, the underlying inflation, as measured by core inflation, is expected to remain subdued, averaging between 0.5% and 1.5% for the year amid continued spare capacity in the economy.

According to BNM, the MPC considers the monetary policy stance to be appropriate and accommodative.

“Given the uncertainties surrounding the pandemic, the stance of monetary policy going forward will continue to be determined by new data and information, and their implications for the overall outlook for inflation and domestic growth,” it added.

BNM slashed the OPR four times last year, totalling a cumulative reduction of 125 basis points (bps), to boost the pandemic-struck economy.

Source: TheEdgeMarket.com