1818, a luxurious residential development by BSG Property located along Tingkat Permai within the established township of Gelugor, Penang. This development comprises 18 units of 3-storey terrace and 18 units of 3-storey semi-detached houses. it is within 10 minutes drive to Penang Bridge.

Property Project : 1818
Location : Gelugor, Penang
Property Type : 3-Storey Terrace & Semi-detached House
Tenure : Freehold
Indicative Price: RM1.8M onwards
Total Units : 36
Developer : BSG Property

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Avid cyclists can now have an enjoyable ride on the new eco-bike trail at the Balik Pulau Sports Complex in Penang.

Penang Municipal Council Recreation, Tourism and International Affairs director Mohamed Akbar Mustapha said the council spent approximately RM30,000 to put up 51 signboards for cyclists along the 20.5km bike trail.

“With the launching of the eco-bike trail, we expect the number of cyclists to increase as they can now enjoy a leisurely ride and admire the beautiful scenery safely without worries.

“The council will work with the Malaysian Association of Hotels (Penang Chapter) and the Penang Tourist Guides Association to promote Balik Pulau as a bicycle-friendly tourism spot,” he said at the recent launch.

The trail was launched by Penang State Assembly Speaker Datuk Abdul Halim Hussain at the complex.

“Cyclists will pass through padi fields and a mangrove forest.

“About 80% of the trail is off-road,” said Abdul Halim.

He said he made several suggestions to the council to improve the track such as installing lights along the stretch and building rest areas such as gazebos for the convenience of the cyclists.

“It is hoped that Penang will have the best bike trail in the country and become a bike-friendly city by 2015,” he said.

Source: The Star

Setia Greens – Citrus 1 & 2, is the latest addition to Setia Greens in Sungai Ara, Penang. This new development comprises 18 units of 3-storey semi-detached houses.

Property Project : Setia Greens
Location : Sungai Ara, Penang
Property Type : Semi-Detached
Land Area: 32′ x 78′ ft. onwards
Built-up: 3,136 sq.ft. onwards
Total Units : 18
Indicative Price : RM1,510,000 onwards
Developer : SP Setia (Kewira Jaya Sdn Bhd)
Other Types : 3-Storey Terrace (Cassis, Cordia, Dillenia, Ehretia)

Eastern & Oriental Bhd (Dec 1, RM1.41)
Maintain outperform at RM1.39 with revised target price of RM2 (from RM1.98): Although annualised 1HFY12 core net profit was only 30% of our forecast, it is in line as future quarters should be stronger. We make no change to our target basis of 30% realisable net asset value (RNAV) discount or "outperform" call.

But we adjust our target, RNAV and earnings per share for housekeeping and ICSLS conversion.

E&O sold RM380 million worth of properties during 1HFY12, 52% more than its RM250 million sales in 1HFY11. Unbilled sales leaped from RM650 million a year ago to RM880 million. The bulk of 1HFY12 sales came from Penang, with the remainder coming from unsold units of St Mary Residences in Kuala Lumpur. As expected, E&O did not propose a 2Q dividend, in line with last year's practice and our expectations.

Take-up rates for both the St Mary Residences and Phase 1 of the Penang Quayside condos have reached 80%. Phase 2 of the Penang condos will be launched this month and indications are that demand should be strong.

Although minority shareholders may be disappointed that there was no general offer, we view positively the recent emergence of Sime Darby Bhd as a 30% shareholder of E&O. This provides E&O with a strong parent which could come in handy for the upcoming Phase 2 of Seri Tanjung Pinang. Also, we would not discount the possibility of joint ventures between the two companies as Sime Darby has 37,000 acres of undeveloped land with an estimated gross development value of RM100 billion. E&O's expertise in high-end residential projects will provide a good fit with Sime, especially for its landbank in the Klang Valley. – CIMB Research, Dec 1

SOURCE: The Edge Property

Raffles Residence 199, another residential development by BSG property located along Jalan Bukit Gambier within the established township of Gelugor, Penang. This development comprises 199 units of 3-storey terrace houses and it is within 10 minutes drive to Penang Bridge.

Property Project : Raffles Residence 199
Location : Gelugor, Penang
Property Type : 3-storey Terrace House
Tenure : Freehold
Total Units : 199
Developer : BSG Property

Location Map