The state government is planning to impose a new water tariff for households in the state.

Chief Minister Chow Kon Yeow said the state administration would submit an application to the Federal Government to increase the water tariff for households.

“The state needs to impose a new water tariff as other states have begun to do it,” he said after launching the state’s Affordable Housing and Real Estate Expo 2023 at Butterworth Arena, here on Saturday (Dec 23).

Chow said Penang currently imposed the same tariff rate since 2015 and introduced a new tariff for non-domestic, or commercial, users last year.

He said a business plan needs to be submitted to the federal authorities every three years on the estimated tariff rate that would be implemented.

He said the water supplied in the state currently was heavily subsidised.

“The Penang Water Supply Corporation (PBAPP) has spent more than RM1 to treat every 1,000 litres of water but only sells them at around RM0.30” he said.

He said the state government has spent more than RM100mil per year despite not having increased the (water) tariff.

He said the matter (to increase the new water tariff) will be announced to the public soon.

Source: TheStar.com.my

The Penang government is committed to providing affordable homes through diverse schemes, assured Chief Minister Chow Kon Yeow.

He announced an extension of the ‘Home Ownership Campaign’ to a new phase, termed ‘Home Ownership Campaign 3.0 Plus,’ from January 2024 to December 2024.

He also highlighted a 10% reduction in the prices of affordable homes under the campaign.

“On the island, the maximum ceiling price of RM300,000 would be lowered to RM270,000, and on the mainland, the ceiling price of RM250,000 would decrease to RM225,000 for units with a minimum of 850 sq ft,” he said.

Stressing the importance of expos like this for both potential buyers and developers to understand market demands, Chow affirmed the government’s role in promoting homeownership.

“This is an initiative by the state government to help promote homeownership in the community,” Chow said during the Penang Affordable Homes and Property Expo at the Butterworth Arena today.

Meanwhile, Penang Housing and Environment Committee chairman Datuk Seri Sundarajoo Somu urged affordable home applicants to update their details through the Penang Housing Board’s housing information system.

Sundarajoo introduced a new affordable housing category for B40 families earning between RM3,500 to RM5,000, specifically targeting youths.

During the event, 20 applicants received offer letters as a symbolic gesture out of the 300 successful applicants for various affordable home schemes.

Sundarajoo also highlighted the establishment of the HOPE (Housing Outcome Performance Committee) to facilitate the process of offering affordable housing units.

source: Buletin Mutiara

London Pavilion, a high-rise residential development by M Summit Premium Sdn. Bhd. (a subsidiary of M Summit Group) in Bayan Lepas. Located along Jalan Permatang Damar Laut, right opposite SMK Bayan Lepas. This development is close to the Bayan Lepas Free Industrial Zone, Penang International Airport, upcoming LRT stations, Silicon Island and Penang Second Bridge. Residents will benefit from seamless connectivity and easy access to a wide range of amenities.

The development comprises a 46-storey building, featuring 527 residential units with 12 levels of car parking podium. The facilities and recreation area will be located on the 13th and top floor.

Project Name : London Pavilion
Location : Bayan Lepas
Property Type : Apartment
Tenure: Freehold
Built-up Size: 982sq.ft. – 1,510sq.ft.
Total Units : 527
Indicative Price : RM418k onwards
Developer: M Summit Premium Sdn. Bhd.

SITE PROGRESS

SITE PROGRESS: London Pavilion (June 2025)

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.

Source: Buletin Mutiara

According to a news report in Buletin Mutiara, the Penang Hill Upper Station Upgrading Project (Phase Four) is on the cusp of completion, with the final touches expected to conclude next month. According to the Penang Hill Corporation (PHC) general manager, Datuk Cheok Lay Leng, the corporation aims to unveil the new upper station to the public before the Chinese New Year celebration next year, marking a pivotal moment in the RM9.3 million project initiated on March 20, 2021.

Cheok Lay Leng conveyed his excitement, highlighting that the project is now at an impressive 95% completion. The primary objective of this initiative is to significantly enhance the visitor experience on Penang Hill, with plans to increase the upper station’s capacity from accommodating 250 visitors to an expansive 700 visitors at a time.

The expansion encompasses the transformation of the current 800 sq m space, a single floor, into a more extensive 1,422 sq m area spread across two floors. The upgraded upper station will feature improved facilities, including a ticketing counter, escalators, a lift, restrooms, a dedicated mothers’ room, and a distinctive featured wall paying homage to Arnold Robert Johnson (1879 – 1966), the engineer credited with designing the historic Penang Hill railway.

Cheok emphasized PHC’s commitment to sustainability, revealing that the corporation is working towards achieving the Green Building Index (GBI) Gold rating for this project. The new upper station is designed with senior-friendly and disabled-friendly facilities, reflecting the aspiration to transform Penang Hill into an authentic, family-friendly destination that fosters a close connection with nature.

In addition to upgraded facilities, the upper station will feature a smart queue management system, ensuring a seamless journey for Penang Hill visitors. Through an e-boarding system, visitors will be assigned batch numbers and provided with estimated boarding times for the funicular train, enhancing the overall efficiency of the experience.

Cheok encouraged visitors to utilize their waiting time by enjoying the amenities at David Brown’s Restaurant and Tea Terrace or the Astaka Bukit Bendera. This strategic use of time allows visitors to explore the hill’s attractions and maximize their overall experience. A similar system is already operational at the lower station, promoting a more productive use of visitors’ time on the hill.

Cheok underscored the main objective of the upgrading project, emphasizing PHC’s role in finding innovative ways to enhance people’s experiences. The corporation is also actively bringing businesses to traders on the hill through digital infrastructure.

Chief Minister Chow Kon Yeow highlighted that these developments align with the fundamental guidelines outlined in the Penang Hill Special Area Plan (SAP) 2016 and Penang Hill Special Area Plan (Substitution) 2020, aimed at preserving the aesthetic value and natural attractions of the hill. As Penang Hill approaches this significant transformation, it is poised to solidify its status as a premier destination in Malaysia, offering an unforgettable experience for locals and tourists alike.

The recent overhaul of Malaysia’s My Second Home (MM2H) program, aimed at attracting a larger pool of foreign residents, has sparked optimism in the country’s property sector. The three-tiered structure and updated financial requirements introduced by the Tourism, Arts, and Culture Ministry aim to make Malaysia an even more appealing second home destination.

While the revised MM2H program is viewed as an improvement over its predecessor, concerns linger about its overall attractiveness and impact on the economy. Professor Geoffrey Williams, an economist and Provost for Research and Innovation at Malaysia University of Science and Technology, believes that despite the changes, the program still appears more as a revenue-raising initiative for the Immigration Department than a genuine effort to encourage expatriate residents.

Williams notes that the MM2H program might primarily attract high-income individuals seeking tax avoidance strategies rather than those genuinely interested in contributing to the local economy. The lowered minimum age requirement and expanded range of eligible dependents may not be sufficient to position Malaysia competitively against neighboring countries with similar programs.

The introduction of the Premium Visa Program (PVIP) in September 2022 reflects the government’s attempt to attract wealthy foreigners through a “Residency Through Investment” concept. However, Williams argues that this approach may not be enough to repair Malaysia’s reputation, as other countries offer better schemes and lower living costs.

The MM2H program, initially launched in 2002 to attract retirees, was suspended in 2019 and relaunched in 2021 with more stringent conditions. According to RHB Research, the stricter criteria led to a significant decline in MM2H applications, representing only 2.8% of the residential transaction volume.

PVIP, designed to raise funds quickly, faced challenges due to its high upfront processing fees. Williams emphasizes the need for a positive sentiment and a welcoming environment, suggesting that the government should focus on creating an attractive long-term option for foreigners.

While analysts from research houses like RHB Research and HLIB Research see potential benefits for key property developers like UEM Sunrise Bhd, Sunway, and Eastern & Oriental Bhd under the new MM2H program, concerns about competition from neighboring countries persist. Thailand and Indonesia have launched similar programs in recent years, intensifying the competition for attracting foreign residents.

TA Research, maintaining an “overweight” stance on the property sector, anticipates positive effects on the real estate market but suggests the removal of the high monthly income requirement to enhance the program’s appeal. Comparisons with other countries like the Philippines, Indonesia, and Cambodia, which do not impose stipulated minimum income requirements, highlight potential areas for improvement.