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Energy Commission, TNB raids uncover bitcoin mining operations in Hijauan Hills

Property News/ 24 February 2024 No comments
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Source: Bernama

A double-storey terrace house in Hijauan Hills and a nearby business premises was raided by the Energy Commission and Tenaga Nasional Berhad for suspected illegal electrical theft for bitcoin mining.

Nine machines were also seized from an upstairs room of the house which was the base for the bitcoin mining activities.

Energy Commission, area director for Penang, Kedah, and Perlis, Muhamad Azmi Ishak, stated that the raid was conducted following a two-month investigation and marks the first case in the northern region involving the illegal tapping of electricity for bitcoin mining.

“Previously, bitcoin operations were typically carried out on-premises, but now the syndicate has changed its modus operandi to residential areas to deceive the authorities.

“We don’t hear the noise of machines because the room is soundproofed,” he told reporters after the operation here on Thursday.

Muhamad Azmi cautioned that the syndicate’s actions of making illegal connections posed a danger to residents living nearby as the high electricity usage could lead to short circuits and fire hazards because the machines operated 24 hours without interruption.

In light of this, he urged the public, especially in residential areas, to report any suspicious activities to enable investigations and prevent such incidents.

According to Muhamad Azmi, both syndicates are believed to have been operating for the past six months, incurring TNB an estimated monthly loss of RM22,000.

The cases are being investigated under Section 37 of the Electricity Supply Act 1990 (Act 447), which pertains to the interference, tampering, or damage to electrical installations.

Source: Bernama

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PDC to offer maximum 60-year lease for BKIP 3 land

Property News/ 24 February 2024 No comments

bkip3-groundbreaking

The Penang Development Corporation (PDC) will lease industrial land to investors for a maximum duration of 60 years following the completion of Batu Kawan Industrial Park 3 (BKIP 3) construction, according to PDC chief executive officer Datuk Aziz Bakar.

On Feb 16, Prime Minister Datuk Seri Anwar Ibrahim officiated the groundbreaking ceremony of BKIP 3, the 10th industrial park under development by PDC, located in Bukit Tambun, Seberang Perai.

Spanning a net area of 407 acres, BKIP 3 is slated for completion in August 2031, with four development phases planned. Phase 1A, covering 60 acres, is expected to be finished in 2025.

“The development of BKIP 3 differs from BKIP and other PDC industrial parks in terms of land ownership.

“Due to the changes in technological advancements within a short period and the challenge of acquiring new industrial land in Penang, PDC will adopt a lease concept. Investors will be granted leases for industrial land for a maximum period of 60 years.

“PDC will also implement the ‘Infra Ready Concept,’ ensuring availability in terms of infrastructure. Close collaboration with Tenaga Nasional Berhad (TNB) is underway to realise this new approach.

“BKIP 3 will also be equipped with additional support facilities, such as employee housing and a logistics hub.

“PDC also emphasises sustainable development where the use of green energy, green buildings and recycling practices, particularly in water management, is encouraged,” Aziz told Buletin Mutiara when asked.

Through the development of BKIP 3, Aziz said PDC aims to sustain the growth of industries akin to BKIP, focusing on electronics and electricity (E&E), medical devices, machines and equipment, engineering and automation. These sectors will remain a priority for ongoing attention.

In addition, local companies that support Penang’s industrial ecosystem will also be given attention.

Asked about the challenges PDC faces in developing BKIP 3, Azis mentioned the increased development costs and the traffic congestion arising from the frequent trips for backfilling works. Furthermore, he noted the distant location of the quarry site poses an additional challenge.

“Another challenge we face is the unsuitability of the existing soil condition, necessitating soil treatment before commencing infrastructure development,” Aziz added.

Upon completion of BKIP 3, Aziz envisions Penang will further solidify its position as the ‘Silicon Valley of the East,’ creating high-income job opportunities.

“The successful completion of BKIP 3 will ensure Penang’s continued substantial contribution to the Malaysian economy through the attraction of high-impact investments.

“In addition, the positive impact on the development of Bandar Cassia, the third satellite city by PDC, is also anticipated.

“I am optimistic that Penang will emerge as the preferred choice for businesses, local and international, even in the face of stiff competition from other states like Selangor, Johor and Kedah,” Aziz said.

Source: Buletin Mutiara

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Central Residence

Jelutong/ 23 February 2024 No comments

central-residence-main

Central Residence, yet another residential development at Jelutong by Major Development Sdn. Bhd. Located on approximately 1.2 acres of land along Lorong Madrasah, right opposite Jelutong Palace apartment. It is just a short drive away from Jalan Ahmad Nor / Tun Dr. Lim Chong Eu interchange, about 5 minutes drive to Penang bridge.

This development will see the construction of a 35-storey condominium featuring 298 residential units, with 10 levels of car parking podium.

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

Project Name : Central Residence
Location : Jelutong
Property Type : Condominium
Tenure: (to be confirmed)
Built-up Size: (to be confirmed)
Total Units : 298
Indicative Price : (to be confirmed)
Developer : Major Development Sdn. Bhd. (VST Group)

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Rehda Malaysia warns against impostor developers to prevent illegal projects

Property News/ 22 February 2024 No comments

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Real Estate and Housing Developers’ Association (Rehda) Malaysia urged the government to remain vigilant and take measures to the full extent permissible by law against individuals masking as developers, to curb the country’s illegal projects that could lead to abandonment.

In a press statement issued by Rehda Malaysia president Datuk NK Tong on Tuesday, he stated that Rehda Malaysia was heartened that authorities including law enforcement are taking action to reprimand these individuals, to protect the rakyat from these unscrupulous activities.

However, he acknowledged that the Ministry of Housing and Local Government (KPKT) and the state authorities are still facing challenges in addressing this issue, including detecting individuals who may build housing units in rural and suburban areas, and in pocket developments where the scale of the project is small and may go undetected.

He added that there is also the possibility that the units are misrepresented and built under the pretence that they are for the builder’s self-dwelling purposes. In some cases, these individuals masking as developers are also operating without any advertising permit and developer’s licence (APDL), thus Tong said tracking them is understandably hard.

In addition, Tong stressed that these projects would not have progressed and would eventually be abandoned without the complicity of errant lawyers and loan officers.

“Legal services and loan financing offers should have been halted for projects without approved APDLs, and we believe that the responsibility should fall under these lawyers and loan officers to report such activities to the authorities. Their involvement should be investigated, and action should also be taken against them and others who play their part in abetting such crimes,” he said.

As this issue negatively affects the property industry’s stakeholders, Tong said Rehda Malaysia is keen to engage and work with KPKT, relevant state authorities and the police to curb illegal projects that could lead to further abandonment.

“We are confident [that] should all parties work together toward this effort, these illegal activities will no longer be a part of the property industry landscape, moving forward. Rehda will continue to encourage our members to uphold our nation-building role of providing quality, affordable homes for the rakyat in a timely manner,” Tong added.

Source: TheEdgeMalaysia.com

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Fera Courtyard Terrace & Senna Semi-Detached Homes @ Andaman Island

Tanjung Pinang/ 21 February 2024 No comments

fera-n-senna

Fera Courtyard Terraces & Senna Semi-detached Homes are the highly anticipated first release of landed homes on Andaman Island. These properties embody E&O’s vision for future living on Andaman Island, offering residents a well-connected and sustainable community. With Ferra & Senna, you can enjoy convenient access to lifestyle amenities and daily necessities within just 15 minutes. Plus, the seamless connectivity from Andaman to Seri Tanjung Pinang and Gurney Bay ensures easy access to the heart of Penang.

Featuring a total of 290 units of 3-storey terrace homes and 70 units of 3-storey semi-detached homes, these homes will be developed in phases. The terrace homes boast a generous built-up size starting from 3,615 sq.ft. for intermediate units, comprising a minimum of 4 bedrooms and 6 bathrooms. On the other hand, the semi-detached units offer a spacious built-up size starting from 4,637 sq.ft., featuring a minimum of 6 bedrooms and 8 bathrooms.

Project Name : Fera Courtyard Terraces & Senna Semi-Detached Homes
Location : Andaman Island, Off Gurney Drive
Property Type : Terraces and semi-detached homes
Tenure : Freehold
Built-up Size: 3,615sq.ft. onwards (terrace), 4,637sq.ft. onwards (semi-d)
Total Units : 290 (terrace), 70 (semi-d)
Indicative Price: RM3.6mil onwards (terrace), RM4.6mil onwards (semi-d)
Developer : Persada Mentari Sdn. Bhd. (a subsidiary of E&O Berhad)

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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.