Ideal United Bintang International Bhd (IUBIB) will develop RM828.6mil worth of property for the 1Malaysia People’s Housing or PR1MA programme in the fourth quarter. Dubbed Penang’s “Property King”, group executive chairman Tan Sri Ooi Kee Liang told StarBiz that the project is located in the sought-after neighbourhood of Island Glades ... Read More

Penangites heaved a sigh of relief as the state partially reopened its doors with its own adaptation of the conditional movement control order (MCO) called Gradual Recovery Strategy. Nearly all retail outlets, including department stores and malls, were allowed to reopen under the strategy Friday, but there were differing rules ... Read More

The Penang government has launched its second economic stimulus package of RM76 million to assist the people during these challenging times in view of the Covid-19 pandemic. Chief Minister Chow Kon Yeow said the stimulus package is an addition to the RM75 million aid package that was announced previously, making ... Read More

Bank Negara Malaysia (BNM) today reduced the Overnight Policy Rate (OPR) by 50 basis points (bps) to 2.00%. “The ceiling and floor rates of the corridor of the OPR are correspondingly reduced to 2.25% and 1.75%, respectively,“ BNM said in a statement today. The OPR has been reduced by a ... Read More

The demand for property in Penang remains robust despite the economic downturn brought on by the Covid-19 pandemic and the movement control order (MCO) enforced to curb its spread. International Read Estate Federation (FIABCI) president Michael Geh Thuan Peng said he is still receiving enquiries about property under the Malaysia ... Read More

There are no more active Covid-19 cases recorded in Penang. The last two cases were reportedly discharged as of 12 noon today, according to statistics from State Health Department. This is the first time Penang recorded zero cases while at the same time having zero patients admitted for Covid-19. Today ... Read More

The movement control order (MCO) in Penang will remain intact tomorrow, with the conditional movement control order (CMCO) to be enforced from May 8 onwards, Penang Chief Minister Chow Kon Yeow announced today. The Penang lawmaker said Penang will not enforce CMCO tomorrow as announced by the federal government, but ... Read More

Almost all economic sectors and business activities will be allowed to resume business, subject to conditions and standard operating procedure, starting May 4, announces the Prime Minister. Tan Sri Muhyiddin Yassin said the decision is made following advice from the Health Ministry and after lengthy discussions during the Economic Action ... Read More

The Malaysian property market is expected to remain resilient despite the economic headwinds this year due to COVID-19, with affordable housing and finding the right solutions to the property overhang continuing to be the main agenda of the government. Valuation and Property Services Department Malaysia (JPPH) in a statement today ... Read More

Plenitude Bhd is closing the operations of three hotels, namely Mercure Penang Beach and The Gurney Resort Hotel and Residences, both in Penang, and Travelodge Ipoh, Perak with immediate effect, and downsizing operations in the other hotels owned by it. This decision is a direct result of the Covid-19 pandemic ... Read More