PROPERTY developers should channel funds into a common pool for the Penang Municipal Council (MPPP) to appoint independent consultants for traffic impact studies.

MPPP councillor Dr Lim Mah Hui said that the studies up to now have been quite ineffective because consultants were appointed by individual developers.

“We should consider a new system for independent consultants to take an integrated rather than piecemeal approach,” he told a full council meeting yesterday.

Dr Lim said that Penang would end up like Hong Kong with high-density development and over-crowding without the public infrastructure to support it if high-rise buildings were conti-nually being approved and if developers continued to buy up every piece of available property to build to the maximum density ratio.

“I’m not against development. What we need to ask is what type of development — is it rampant and unbalanced, or is it sustainable and balanced?

“I’m afraid our concept of development is simply too property-centric,” he added.

Dr Lim also said that it was the responsibility of the state — politicians, councillors, civil servants and policy makers — to provide the checks and balances, to protect public interest and come up with sensible policies to ensure sustainable development.

Meanwhile, the MPPP financial management sub-committee proposed increasing compounds issued to offenders who were not civic-conscious.

Its alternate chairman Tan Hun Wooi said that the committee proposed to increase the compounds by 100%.

“Examples of errant behaviour include hawkers who smoke while cooking or those who throw rubbish into the drain,” he said.

MPPP Public Health standing committee alternate chairman Ong Ah Teong said the commit- tee approved a 30% reduction on stall rentals at the market complex at Lintang Macallum 2, Ocean View hawker complex and the stalls on the upper floor of the Bayan Baru market complex beginning this month until July next year.

SOURCE: The Star

RESIDENTS of Desa Green flats in Penang are frustrated with a fellow resident who has installed a flue outside his unit, causing smoke to travel to the other units.

Desa Green management committee chairman Krishnamoorthy Muthuveloo, who spoke on behalf of the residents, said they tried to get the owner to remove the flue without success.

?I have written to the Commissioner of Buildings (COB) from the Penang Municipal Council (MPPP) Valuation and Property Management department regarding this matter but they have not taken any action apart from issuing several warning letters,? he said.

Krishnamoorthy said the COB sent letters dated Jan 17 and March 8 to the flat owner asking him to remove the flue, each time giving him two weeks to do so, which he ignored.

?These letters were also forwarded to me,? he said.

?On March 29, the flat owner sent me a letter saying that he had permission from the previous committee and I would have to face the consequences if I removed the flue.?

Krishnamoorthy said he also wrote to the previous committee asking for details of the members and why permission was given, but received no reply.

?On April 14, the COB sent a reminder to the flat owner stating that flues are not allowed in flats under the Third Schedule of the Strata Titles Act 1985, and the management committee had the authority to enforce minor laws or rules with regard to their building.

?Later that day, I received a letter from his lawyers stating that the owner have permiss ion to install the flue,? he said.

Krishnamoorthy said he was elected by the residents to resolve the matter peacefully.

?If I remove it myself, it may cause ill-will among us as we live in the same area. I want to solve this matter amicably.

?A lady living in one of the units has also shown me a doctor?s letter confirming that she has a skin reaction resulting from the smoke from the flue. I hope this matter can be solved as soon as possible,? he said.

Penang MCA Public Services and Complaints Bureau deputy chief Lim Thoon Deong said that he had contacted the MPPP about the issue and was told that the council was ?looking into it? and needed to ?refer to higher authority?.

?I urge the COB to quickly resolve this matter. They should send some officers to visit this unit and inspect the matter themselves. It is not fair for the committee to remove the flue without the COB,? he said.

SOURCE: The Star

Kuala Lumpur: Conglomerate Sime Darby Bhd has agreed to buy 30 per cent of Eastern & Oriental Bhd (E&O), a developer with large projects on Penang island, sources said.

Sime will buy the shares from two parties, believed to be GK Goh Holdings Ltd and Puan Sri Nik Anida Nik Manshor, the wife of Tan Sri Wan Azmi Wan Hamzah.

Based on the latest Bursa Malaysia filings, Nik Anida has an indirect stake of 11.86 per cent while GK Goh Holdings Ltd holds another 11.23 per cent.

Sources said E&O will also issue new shares to Sime. In total, Sime is expected to own 30 per cent of the property developer.

"It is unsure how much the deal is worth. But rumour was that Sime wanted to buy at more than RM2, but the sellers then were not willing to sell. With the current global economic landscape, they may have changed their minds," said a source.

The deal will allow Sime to recognise part of E&O's earnings, but more importantly, it gives Sime the opportunity to take part in the much talked-about Seri Tanjung Pinang 2 project.

That project involves reclaiming 740 acres of land in Tanjung Tokong to develop two islands for mixed development projects. The project has an estimated gross development value (GDV) of RM12 billion.

Yesterday, trading in E&O and GK Goh Holdings Ltd shares were suspended. However, Sime shares were not halted.

Shares of E&O rose 1.4 per cent on Thursday to RM1.45. Over the past 30 days, its shares closed at a high of RM1.70 and a low of RM1.38. On average, it was traded at RM1.38, with a volume of 10.6 million shares daily.

Sime stocks ended unchanged at RM8.80.

Since May, major shareholders of E&O have been accumulating the stock. During the period, Nik Anida has expanded her indirect stake to 11.86 per cent from 9.09 per cent.

AmBank group chairman Tan Sri Azman Hashim had also been on a shopping spree during the period. He raised his stake to 6.25 per cent from 5.1 per cent.

SOURCE: Business Times

MAKING its mark as DNP Land’s first mega commercial project, the Impiana Commercial Hub is poised to revolutionise the developing township of Alma in Bukit Mertajam.

DNP Land Sdn Bhd senior marketing manager Joe Ang Kean Joo said that the 20ha commercial centre offers a diverse range of commercial properties ranging from terraced-shops to semi-detached show gallery and courtyard plazas.

Phase One of the project comprises of the Impiana Boulevard which consists of 72 units of two-storey shop offices with mezzanine floor and has a built up area of more than 371.6sq m (4,000sq ft).

The units are priced at about RM1mil each.

There is also the Impiana Avenue, which consists of 34 units of two and three-storey shop offices with land sizes measuring 111sq m (1,200sq ft), priced at RM868,000 each.

“Tesco hypermarket commenced their operations here last year and we recently entered into an agreement with Jusco to open up a new departmental store here in the future. This will provide an added crowd-pulling factor,” said Ang.

The remaining units of the project will be open for sale to potential buyers at the upcoming DNP Property Showcase 2011 held at the DNP sales gallery in Alma, Bukit Mer- tajam from 10am to 6pm from tomorrow to Wednesday.

The other two projects that will be on offer during the property showcase are the Jesselton Hill in Bukit Mertajam and BM Utama in Bukit Minyak.

Set for launch this year, Phase One of Jesselton Hill comprises 136 units of three types of semi-detached designs, priced from RM588,000 onwards and is now open for registration.

Ang said there will be an early bird promotion, offering a discount of RM15,000, as well as free legal fees and stamp duty on transfer and also free clubhouse membership and security services for 24 months.

As for BM Utama, the residential area, which spans 28ha of prime freehold land, is poised to be the premier address in the fast-growing precinct of Bukit Minyak.

Comprising over 700 landed residential units to be built in several phases, the project is targeted for completion in 2013.

Phase Three of the project comprises of two and three-storey link homes, with selling prices starting from RM408,000 onwards for the double-storey units while the triple-storeys are at RM498,000 onwards.

Ang also said that visitors may enjoy up to RM20,000 worth of rebate at the show-case.

“We hope that our three projects in Bukit Mertajam will receive excellent response from buyers at the showcase,” he added.

Source: The Star

GEORGE TOWN: The first phase of the RM450mil Gurney Paragon Mall will be ready by the end of this year.

Group executive chairman Datuk Khor Teng Tong said the 25 retail tenants in that phase would be Italiennes restaurant, Coffee Bean, Pacific Coffee, and TGIF.

The first phase has a net lettable area of 111,000sq ft. The second phase, comprising 599,000 sq ft, will have teants such as Hokkaido Ichiba Japanese restaurant, Urban Fresh supermarket, and TGV Cinemas Sdn Bhd.

“We are now negotiating with Valiram Group to bring in some of their fashion brand names for the second phase,” he said.

Khor said the group’s business model was to hold and manage this mall.

“We have experts from Singapore and Kuala Lumpur to advise on the mall’s operations.

“The rental income stream from the mall in the future will enable the group to have a strong base of recurring income.

“This will transform the group from a property developer into a real estate landlord,” he added.

On the Gurney Paragon RM480mil condominium project, located within the same premise as the commercial segment, Khor said about 70% of the 220 condominium units had been sold.

“We have also obtained the certificate of fitness for the project,” he said.

Khor added that about RM10mil was in the process of being paid in the form of rebates to some 100 purchasers of the condominium scheme for late delivery.

The condominium project was scheduled for delivery in mid-2010.

It was delayed because of the caving in of an access road in July 2009.

Source: The Star