Source: Google Street View

Land 33 Berhad, formerly known as ACME Holdings Berhad, is acquiring a 4,287 sq m freehold property along Cantonment Road in George Town, for RM32.3 million as part of its plans to expand its property development portfolio.

In an announcement to Bursa Malaysia yesterday, the company said its wholly-owned subsidiary, Pacific Horizon Sdn Bhd, had entered into a sale and purchase agreement with Julian Lim Chung Yi, together with Pamela Ong Siew Im and Christy Toh Siew Teng as administrators of the estate of the late Lim Chung Ching, to acquire the property for RM32,301,418.80.

The property, located at No. 3, Cantonment Road, comprises a two-storey bungalow on freehold land measuring approximately 4,287 sq m.

According to the announcement, the property is currently rented out for use as a pre-school education centre operating under the name Tadika Sains Kreatif.

Land 33 said the acquisition would add the property to its existing land bank for future property development. The company cited the site’s location within an established residential area, with access to amenities such as schools, colleges, hospitals and shopping malls, as factors supporting its potential for future development.

The proposed acquisition is also expected to diversify the group’s income streams and potentially contribute to its future earnings and long-term growth, subject to prevailing market conditions and successful implementation.

The purchase consideration will be funded through a combination of internally generated funds and bank borrowings, with the final proportion to be determined later. A 10% deposit of RM3.23 million has been paid to the vendors’ solicitors as stakeholders, while the remaining RM29.07 million is payable in accordance with the terms of the sale and purchase agreement.

The transaction is subject to court approval for the sale and transfer of the deceased’s half share in the property. Land 33 expects the acquisition to be completed within six months, barring unforeseen circumstances.

The company said the acquisition is not expected to have a material effect on its earnings, net assets or gearing for the financial year ending March 31, 2027, although it is expected to contribute positively to the group’s earnings over time.

D’Harringttons is a proposed serviced residence development in Jelutong by JKP Jelutong Development Sdn. Bhd., a joint venture between JKP Sdn. Bhd. and GSD Land Sdn. Bhd. The project is located next to the Tun Dr. Lim Chong Eu Expressway, less than 500 metres from the Jalan Ahmad Nor exit. The site was previously earmarked for an affordable housing project known as Mutiara Rini more than a decade ago.

The development is planned as a 46-storey building comprising 584 serviced residence units. The building will include one lower-ground level and nine levels of car parking, while five levels will be allocated for recreational facilities at Levels 10, 11, 22, 40 and 45. The serviced residences will occupy 34 levels from Level 12 to Level 45.

Project Name : D’Harringtton
Location : Jelutong
Property Type : Serviced residence
Tenure: (to be confirmed)
Built-up Size: 1,065 sq.ft.
Total Units : 584
Indicative Price : (to be confirmed)
Developer : JKP Jelutong Development Sdn. Bhd.

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.

Construction of the Penang LRT Mutiara Line continues to progress, with the latest photographs taken at the end of September 2026 capturing the ongoing works along various sections of the alignment. The images show the latest site conditions at key locations, including station areas and elevated guideway structures, offering a closer look at how the project is taking shape.

Check out the latest photos below for a visual update on the construction progress of Penang’s first LRT line.

*All photos are taken in end-Sep 2026

Image Source: MRT Corp Mutiara Line Website (https://laluanmutiara.mymrt.com.my/)

Source: Google Street View

The federal government has approved RM5 million for a design study for the proposed widening of Jalan FT 006 Teluk Kumbar in Penang, according to a report by China Press. Bayan Lepas assemblyman Datuk Azrul said the approximately 3km project will cover the stretch from Sekolah Kebangsaan Sungai Batu to the Teluk Kumbar vehicle inspection centre. Selected sections are planned to be widened from two lanes to four lanes, while busier stretches may be expanded to five or six lanes to ease traffic congestion.

One of the proposed improvements is a free-flow lane at the Sungai Batu junction to reduce bottlenecks, alongside upgrades to roadside drains to improve drainage. Utility relocation works have begun, although land acquisition and adjustments to certain design proposals remain among the challenges.

The initial priority is the section between SK Sungai Batu and the area in front of Emerald Lagenda, involving nearby residential developments including Harmony Vista, Laguna Bay and Teluk Bayu. The road improvement works are required to be completed before the developers of Harmony Vista and Laguna Bay receive their Certificates of Completion and Compliance (CCC), with completion targeted within this year. However, the widening works along the riverbank near Taman Emas towards Emerald Lagenda are expected to take longer due to private land acquisition.

The next phase, extending from SK Sungai Batu towards Changkat Bukit Belah, will involve two developers with residential projects either underway or planned in the area. Azrul said the upgrades are intended to address longstanding traffic congestion complaints, particularly at the Sungai Batu junction, although implementation will take time.

An auction for a six-acre parcel of land near Gurney Drive, Penang, failed to attract any bidders on Wednesday, dealing a setback to efforts to raise funds for the long-delayed Ayer Itam road bypass project.

Representatives of the appointed auction agent, One Asia Property Consultants (PG) Sdn Bhd, waited an hour for potential bidders before closing the auction, according to a report by The Edge. The state government has yet to decide whether to hold another auction.

Known as Plot 7A in Tanjung Pinang Town, the land is located along Jalan Peter Paul Dason, which connects Gurney Drive with Andaman Island. The parcel carried a reserve price of RM313.632 million, equivalent to RM1,200 per square foot. Vacant land in the surrounding area is reportedly fetching more than RM1,000 per square foot in the open market.

The proceeds from the proposed sale were intended to help finance the completion of the Ayer Itam bypass, which links Ayer Itam to the Tun Dr Lim Chong Eu Expressway. Construction progress exceeded 90% as at the end of August, but the project has faced delays due to financing and site logistics issues.

The project operates under a land-swap arrangement, whereby land is transferred to the contractor, Consortium Zenith Construction Sdn Bhd, based on completed work claims instead of cash payments. The contractor had sought the state government’s assistance to monetise the land and improve cash flow, with completion targeted for April 2027.

Apart from the prevailing soft property market, uncertainty over the permissible plot ratio for a proposed mixed-development project on the site may have contributed to the lack of interest.

Plot ratios determine the maximum floor area that can be developed relative to the size of a land parcel. Development density on Penang Island is subject to state planning controls, given its limited flat land, environmentally sensitive hills and heritage considerations.

The absence of bidders leaves the state government to consider its next steps in unlocking the land’s value to support the completion of the bypass project.