THE Plenitude Penang International Dragon Boat Festival will be held at the Teluk Bahang Dam on June 11 and 12.

State Tourism Development and Culture Committee chairman Danny Law said Plenitude, a listed company involved in property development, was the sponsor of the event this year.

He said 12 teams from Australia, China, Hong Kong, Indonesia, Macau, Singapore, United Arab Emirates (UAE), Guam and the Philippines and 16 Malaysian teams from Kuala Lumpur, Putrajaya, Kedah, Perak, Penang, the police and the navy would take part in the more than 10 categories lined up.

Law added that three junior teams from schools would also be taking part in the event.

The dragon boat races will be held from 9am to 6pm on both days.

A photography competition, which is a new side event, will be introduced this year.

“The top three winners will receive RM500, RM300 and RM100 respectively,” he said.

“Participants are required to take photos on both days. Results will be announced a week after the event,” Law said.

He said those interested in taking part in the dragon boat races could call 04-6505136, the event hotline at 016-4110000 or visit www.penangdragonboat.gov.my.

Law said a school band carnival would be held on June 12 near the dam in conjunction with the race.

SOURCE: The Star

Caribea & Casuarina is the latest addition to the Isle of Conifer @ Setia Peral Island. This new development comprises 8 units of 3-storey semi-detached and 37 units 3-storey terrace houses.

Property Project : Isle of Conifer @ Setia Pearl Island
Location : Setia Pearl Island, Sungai Ara, Penang
Property Type : Terrace, Semi-Detached
Total Units : 37 (Terrace), 8 (Semi-D)
Indicative Price : RM988,000 onwards
Developer : SP Setia

KUALA LUMPUR: Property developer PJ Development Bhd (PJD) will build two new residences and a hotel for RM400 million to grow its hospitality business.

Swiss-Garden International Sdn Bhd (SGI) group general manager for sales and marketing Francis Lee said PJD will build the properties starting end of this year for completion in two to three years.

The residences will be located in Butterworth, Penang, and Kuantan, Pahang, and the hotel in Cameron Highlands, carrying the Swiss-Garden brandname.

"We are seeking to expand the hospitality business in line with the expected growth in the tourism sector. We are upbeat on the market and believe there will be strong demand for our products," Lee said.

SGI, the wholly-owned hospitality arm of PJD, currently owns and operates eight hotels, resorts and inns in Peninsular Malaysia and a lodge in Sydney, Australia. It also manages a resort in Sandakan, Sabah.

All the properties have an occupancy of more than 65 per cent per annum.

Lee was speaking to Business Times recently, in conjunction with the soft opening of the Swiss-Garden Residences Kuala Lumpur.

The residences in Kuala Lumpur, comprising two towers with 33 and 37 storeys each, were built for RM330 million.

They have 478 apartments ranging from 550 sq ft to 2700 sq ft, sold with leaseback options.

The property enables investors to buy the units with an annual guaranteed return of 7 per cent per annum for five years.

Lee said the residences in Butterworth and Kuantan will be built and sold with the same concept.

Swiss-Garden Residences group general manager for central region Rayan Komatt said he expects 63 per cent occupancy in the first year of operation, with an average rate of RM330 per room a night.

"We are targeting domestic and foreign travellers and corporate clients from Asia Pacific and Europe. We will operate three food outlets at the residences ourselves and therefore expect a gross operating profit of 45 per cent," he said.

SOURCE: Business Times

Seafront retail marina Straits Quay in Tanjong Tokong, Penang, plays host to The Nautical Lifestyle Show 2011 from today until Monday, featuring two magnificent Majesty Yachts — the Majesty 56 and Majesty 88.

Brought in by Pen-Marine Sdn Bhd, the “luxury bungalows on water” are regarded as among the best in their class of motor yachts.

Speaking to pressmen during a special media preview and boat ride yesterday, Pen-Marine managing director Oh Kean Shen said private viewing of the boats could be arranged by appointment throughout the event.

“This brand has been in Penang for over a decade, and so far, more than 100 ships have been bought by customers in Penang and Langkawi,” he said.

Manufactured by Gulf Craft Inc from the United Arab Emirates, the Majesty 56 and Majesty 88, measuring 17m and 27m and capable of top speeds of 31knots and 29knots respectively, fetch price tags of USD$1.25mil and USD$3.9mil.

Both models boast luxurious upholstery, hand-crafted wood finishes, marble top accents, quality fabrics, fly-bridge helms and ultra modern navigational equipment.

Displacing 22-tons, the Majesty 56 has three cabins, while the 70-ton Majesty 88 has four exquisite staterooms and two cabins. In the latter, there’s even a Jacuzzi and barbecue on the fly-bridge and spacious salon and bar area on the main deck.

As the boating lifestyle is still quite new here, Oh said continued governmental support was vital in expanding the market. But with facilities like the Straits Quay Marina, which he ranked among the best in the country, he saw a bright future for the industry.

Pen-Marine, which was established in 1988, is also pioneering a Boat Sharing fractional ownership concept for those who like boating but are not willing to invest so much in terms of time and cost.

“Instead of buying a vessel and leaving it idle, this concept allows people to use the boats only when they need to, and leave all the hassles of maintenance, cleaning and restocking to our management team.

“They just need to tell us when they want to use it, where they’re heading to, and how many people they’re bringing on board,” he explained.

Pressmen were also shown the PME26 Electric Boat, a prototype monohull vessel jointly developed by Pen-Marine and ETI Tech Corporation Bhd powered by solar-charged lithium batteries.

“It’s a prove-of-concept that a boat running on renewable energy is feasible. We should start looking into green energy sources to cut down emissions.

“Out at sea, there’s ample sun, and this saves cost on fuel,” said ETI Tech director Datuk Dennis Chuah, adding that the new generation solar panels could fully charge the boats batteries within five hours.

Visitors to the show will stand a chance to go on a 20-minute boat ride around the marina on a motorboat with purchase of RM30 and above of merchandise at the event on a first-come-first-served basis.

In conjunction with the event, an exclusive Gala Night will be held on May 7 that includes a charity auction for special items. Proceeds will be donated to the state’s Partners Against Poverty (PAP) fund.

There will also be a fashion show, violin and belly dance performances that night.

Viewing of the Majesty Yachts is available from today until Monday, from 10.30am to 5.30pm daily, by appointment only.

For further information, call Sam at 019-4511188 or Wendy at 012-5510797.

Source: The Star

PETALING JAYA: Malaysia is likely to see a record year for property transactions and home price appreciation could accelerate, said CIMB Investment Bank Bhd.

In its latest report for the Malaysian property sector, the research house said it remained particularly bullish on residential properties as house prices were likely to trend higher and volumes would scale new highs.

“Developers benefited from the increase in transaction values and rising house prices in 2010 and will continue to do so in 2011,” it said.

According to the 2010 Property Market Report (PMR) published by C H Williams Talhar & Wong, property transactions last year rebounded from 2009’s slump at 11% to 376,583, with transaction values rising 33% to a record RM107.44bil. Residential prices in all states also rose, gaining an average 6.7%, the quickest pace since the 1997/8 Asian Financial Crisis at 6.7%.

“While the authorities may fret about property bubbles and take measures to cool down the sector, history shows that such actions do not burst bubbles and merely slowed down the ascent of property prices and resulted in short term profit-taking on property stocks,” CIMB said, adding that it did not expect any major negative policies to be introduced for the property sector until after the general elections, widely expected to be held later this year or early next year.

While CIMB maintained a bullish stance on residential property sector, it said prospects for commercial properties in the country did not look promising due to the significant new supply coming onstream.

In that regard, it said, “property investment companies would continue to be weighed down by soft rental rates stemming from relatively high vacancy rates and substantial new supply.”

The PMR showed weak demand and rising supply were already weighing down occupancy rates for commercial properties, particularly office spaces in the Klang Valley, last year.

Source: The Star