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Hotayi BK2 expansion project at Batu Kawan

Property News/ 16 October 2021 No comments

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Another milestone is on the way for Hotayi Electronic (M) Sdn Bhd as they celebrated the groundbreaking ceremony of a new plant called ‘Hotayi BK2’ in Batu Kawan today.

Founded in 1992, the company is hopeful of celebrating not one but two achievements next year, which is its three decades of existence and expected completion of the new plant in April.

It was learnt that Hotayi will be investing a total of RM300 million on this expansion project.

Chief Minister Chow Kon Yeow, who officiated the groundbreaking ceremony, commended Hotayi on their latest project and was impressed that the new plant would be equipped with smart, green and nature-friendly concept.

He also went down memory lane, recalling when he witnessed the opening of ‘Hotayi on the Hill’ project in 2019.

“Two years ago, I was here for the opening of ‘Hotayi on the Hill’, and today, I’m glad to be here again to be part of the next step in making this latest expansion project a reality.

‘I am also pleased to see Hotayi continue to flourish here in Penang and is now one of the global leading Electronics Manufacturing Services (EMS) companies in Malaysia.

“Following Taiwan’s new southbound policy, Hotayi made the bold decision in 2017 to expand its production here, creating new jobs and strengthening strategic partnerships with clients in this region.

“I understand that through this new expansion project, Hotayi is expected to create some 600 high value jobs upon completion in April 2022.

hotayi-speach“The company has been actively cultivating engineering talents and skilled workers, and this new expansion project will undoubtedly broaden this effort and further sharpen the competitiveness of the local workforce,” Chow said during his speech at the groundbreaking ceremony in Batu Kawan today.

Meanwhile, Hotayi chairman Datuk Seri Lee Hung Lung expressed his profound gratitude to the state government, contractors and relevant parties for making the expansion project a reality.

“It would not have been possible without the collective effort by all these groups of people.

“They made it happen.

“Despite the growing concerns and uncertainties due to the Covid-19 pandemic, the decision to expand was a tribute to the hard work of everyone”, Lee said during his speech.

Representative from the Taiwan Economic and Cultural Office, Dr Lien Yu-Ping, said that Malaysia and Taiwan have maintained a very strong economic relationship over the years.

“Today’s event is a proof that these two countries share a strong bond with one another.

“Penang is a popular hub filled with high-tech individuals, working and contributing immensely in the electrical and electronics industry.

“It is hoped that despite the current challenges in the form of Covid-19, may this new plant be a platform to hire high-performing individuals and may they all continue to flourish in their respective roles,” Lien said.

Separately, Chow also said Hotayi shares the vision of nurturing talent, particularly in the field of STEM (Science, Technology, Engineering and Mathematics).

“They have been very supportive of the projects that spur interest in STEM amongst the young generation by contributing to the Tech Dome Penang Project.

“In addition, they have also been actively involved in social charity activities, education and medical care, especially for those affected by this Covid-induced mayhem,” he added.

Also present during the ceremony were State Speaker Datuk Law Choo Kiang, Batu Kawan MP Kasthuriraani Patto, Bukit Tambun assemblyman Goh Choon Aik, Seberang Perai City Council (MBSP) mayor Datuk Rozali Mohamud, Penang Island City Council (MBPP) mayor Datuk Yew Tung Seang and InvestPenang chief executive officer Datuk Loo Lee Lian.

Source: Buletin Mutiara

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SITE PROGRESS: Wellspring Residences (Oct 2021)

Property News/ 15 October 2021 No comments

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About Wellspring Residences

A high-rise residential development by Airmas Group in Butterworth. Located near Jalan Telaga Air, next to Telaga Emas Apartment by the same company. It is about 500 meters away from the ever-bustling Jalan Raja Uda, and only a 5 minutes drive to Penang Sentral. This development comprises a 21-storey condominium, featuring 144 residential units with built-up sizes ranging from 1,070 sq.ft. – 1,260 sq.ft.

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MBSP and Think City sign MoU to create ‘20-Minute City’

Property News/ 15 October 2021 No comments /中文版

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One day, pedestrians or those cycling from one location to another around the city of Seberang Perai may only take less than 20 minutes, such as Melbourne (Australia) and several other famous cities in the world.

This was mentioned by the Mayor of Seberang Perai City Council (MBSP), Dato ‘Sr. Rozali Mohamud after signing a memorandum of understanding (MoU) with Think City, a subsidiary of Khazanah National Berhad to further rejuvenate Butterworth and improve the livability of the locals.

“Six projects have been planned to be implemented in 2022, namely the Public Realm Urban Design Guidelines (UDG) for 20-Minute City, community involvement in the design of concept plans in Taman Pantai, Butterworth and Sungai Perai programs.

“Other projects include the upgrading of Jalan Jeti Lama Market which cost RM4 million to be borne by MBSP, the upgrade of Pocket Parks and Rain Garden as well as the expansion of Butterworth Art Walk,” said Rozali in the brief event at MBSP Tower yesterday.

Also present were acting City Secretary, Baderul Amin Abdul Hamid; Council members for the relevant Local Authorities (PBT) and the Managing Director of Think City Sdn. Bhd., Hamdan Abdul Majeed.

Rozali added that the MoU signed for the period 14 October 2021 to 13 October 2026 is an extension of the memorandum of understanding previously signed for a period of five years, on 8 January 2016.

Commenting further on the previous MoU, Rozali explained that MBSP had successfully rejuvenated Butterworth through programs and projects such as Butterworth Fringe Festival (BFF), upgrading a pocket garden at Lebuh Bengal, Ria Apartment swimming pool, Butterworth Digital Library development, Butterworth Art Walk and development of bazaar MARA Bagan.

“In line with this MoU, an extension of cooperation in the implementation of the New Butterworth Program involving the Adopting 20-minute City Project in Butterworth will be held in January 2022.

“We plan to create seven neighborhoods with the concept of ’20-minute City ‘in Seberang Perai.

In ‘20 -Minute City ’, we will only talk about the cycling and walking lifestyle to access basic amenities such as school, daily equipment, hospital and leisure.

“Meanwhile, movement among several townships will use public transport within 20 minutes.

“So, with the development of ’20-Minute City ‘in the neighborhood and between townships, it will make Seberang Perai the first 20-minute city in Malaysia,” he explained.

In this regard, Rozali hopes that more private parties can come together to make the project a success by 2030.

Source: Buletin Mutiara

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Five-year plan RMMPg aims to supply 7,838 units of affordable homes

Property News/ 14 October 2021 No comments

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The Penang Housing Board has rebranded its five-year Penang Housing Board Development Master Plan for the year 2021 to 2025.

Penang Local Government, Housing, Town and Country Planning Committee chairman Jagdeep Singh Deo said the five-year master plan would now be named as Rumah Mampu Milik Penang (RMMPg).

In a media release, it was stated that the RMMPg would comprise nine affordable home projects and five urban regeneration projects.

After his visit to Fairview Residence in Sungai Ara today, Jagdeep told a press conference that the state Housing Board had planned to supply 7,838 units of affordable homes through these 14 projects.

“I would like to congratulate the Penang Housing Board for the initiative,” he said.

He added that the state would continue to monitor the supply of affordable homes for the people.

“We have a target of supplying 220,000 units of affordable homes (various types) under the Penang2030 vision. We strive to achieve our target by 2030.

“We have supplied almost 130,000 units of affordable homes (various types) so far, since 2008,” he said.

He also commended the developer for building low medium-cost and affordable units at Fairview Residence.

On a separate matter, Jagdeep said that the urban regeneration project at the ‘5 Point Blocks’ flats in Lorong Mahsuri 10 in Bayan Baru was scheduled to start by the end of this year.

Source: Buletin Mutiara

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HOC may extend to secondary housing market

Property News/ 14 October 2021 1 comment

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The government may extend the Home Ownership Campaign (HOC) benefits to the secondary market, the National Property Information Centre (Napic) said.

It may also freeze the development of stratified buildings to resolve the overhang in the various segments of the property market.

The HOC benefits include substantial savings in stamp duty and tax exemption in housing loans.

Deputy director of Inventory at the National Property Information Centre (Napic) Ari Adam said extending the HOC to the secondary market will create a level playing field in the residential segment.

The HOC benefits are currently limited to developers’ units but the extension to the secondary market will see house owners benefit when they sell their houses.

The HOC is expected to end on Dec 31, 2021.

Ari said a freeze on stratified buildings may resolve the overhang in the residential and serviced apartment segment, and in the purpose-built office space and shopping malls while extending the HOC to the secondary market will help to spur residential sales.

He was speaking at the association of valuers, property managers, estate agents and property consultants in the private sector Malaysia (PEPS) 14th Malaysian Property Summit 2021.

Ari hinted that the Budget 2022 may also reveal some news with regards the extension and the possible freeze on stratified buildings.

He said the government and stakeholders need to “think out of the box” as the government is expecting a surge in stratified units – mainly serviced apartment units – as developers try to maximise profits when the economy takes ginger steps towards reopening.

Ari, who was in Johor before the pandemic to see the situation there, said the overall overhang situation in the country “is quite alarming and we have to think out of the box” about how to resolve it.

The unsold completed units – overhang, in property parlance – in residential, serviced apartments and small office home offices (SoHos) totalled 57,154 units, with a ringgit value of RM41.54bil at the first half of 2021.

Ari said the issue of overhang has been there since before the Covid-19 pandemic but the pandemic “only amplified the scenario.”

“As I usually say, data speaks for itself. The question is: What do we do with overhang? Do we let prices come down?

“Perhaps if we had (made it mandatory) for developers (to have independent feasibility and market studies), there may be no overhang. Perhaps if developers consider what the people want or can afford,” Ari asked.

As for office and mall space, Ari said Malaysia has never seen such low occupancy rates for both which is about 70% as today.

“This is the lowest ever. I don’t know if it will get worse or better. We have to find ways to occupy all the space we have. There were ideas about making them into small office centres, data centres or starter homes,” Ari said.

Source: FreeMalaysiaToday.com

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