Ideal Property Group is excited to unveil the My Ideal Home Photo Contest Winners Exhibition at 1st Avenue Penang. This engaging three-month exhibition, which began last Saturday, is more than a showcase of award-winning photography—it is a celebration of the transformative properties of Ideal Property Group’s real estate developments.

Curated by Ideal Property Group, the exhibition features a selection of inspiring photographs that highlight the transformation of ordinary living spaces into exclusive enclaves. These photographs, taken by both professional and enthusiastic photographers, provide an intimate look at how Ideal Property Group’s developments blend architectural aesthetic with quality lifestyle to create welcoming, sophisticated environments.

Ideal Property Group’s development projects are characterized by their commitment to creating legacies through the values of creativity, as seen in their meticulously crafted living spaces. From the captivating Queens Residences Q3, inspired by Spanish artistry and featuring a pristine white hue and curvy feature wall reminiscent of Antoni Gaudi’s iconic creations; to the Lucerne Residences, which offer picturesque Swiss scene at every moment; and the Santorini-inspired I-Santorini at Tanjung Tokong, each project offers residents a unique and exclusive identity that transcends mere aesthetics. Through innovative design and attention to detail, Ideal Property Group elevates the concept of property development, crafting environments that not only provide comfort and luxury but also evoke pride and a sense of belonging. Their dedication to redefining standards in the industry ensures that their projects leave a lasting legacy, resonating with generations to come.

Dato’ Ng Tyan Ping, Chief Operating Officer of Ideal Property Group, highlighted the exhibition’s role in bridging communities, saying, “This exhibition is not just a platform to display remarkable photography; it’s an invitation to discover the warmth and sustainability that are hallmarks of our projects. We are thrilled to bring together a diverse group of photography enthusiasts to share how these spaces impact and inspire our daily lives.”

The exhibition is open to the public until July 31, 2024, offers visitors a chance to delve into the creative processes of the photographers.

In tandem with the exhibition, Ideal Property Group is excited to launch the My Ideal Home Photo Contest 7.0. Open to all Malaysians, this contest invites photographers to submit their best shots in two categories: Architecture Charm and Drone Shot. The contest is an excellent opportunity for aspiring and professional photographers to showcase their skills and compete for substantial cash prizes. The top prize is RM3000, with additional prizes for runners-up and commendations.

Submissions for the My Ideal Home Photo Contest 7.0 are open from April 20 to June 28. Interested participants can download the entry form from the Ideal Property Group’s website at www.idealproperty.com.my or their Facebook page at www.facebook.com/idealpropertygroup/.

For more information about the exhibition and the photo contest, kindly visit the company’s website or contact Ideal Property Group at +604-6456888.

Despite lower contributions to Akaun Sejahtera following the Employees Provident Fund’s (EPF) latest initiative, analysts are of the opinion that it won’t have a significant impact on the property sector.

Economists said this was because Akaun Sejahtera, formerly known as Account 2, only saw a decrease of 5% in contributions, and it will not have an adverse effect on a person’s plan to purchase a home.

Socio-Economic Research Centre (SERC) executive director Lee Heng Guei said that prospecon middle-income earners making about RM5,000 a month. tive homebuyers would not rely entirely on Account 2 savings to buy a home.

“I’m sure there are other savings in addition to Akaun Sejahtera that are going to supplement an individual’s plans to buy a house.

“I think it won’t have a significant impact on the property sector because, as a buyer, you have already made plans on the down payment amount,” he said. However, he said the reduced contributions to Akaun Sejahtera may have a more adverse effect

“Their income isn’t high, and they depend a lot on the EPF.

“They may have to save for a few more years (for their house purchase plans),” Lee said. He said it is entirely up to an individual whether or not to optin for an initial amount to their Akaun Fleksibel, also known as Account 3.

“The onus is on you. Account 3 will always be there, and if you decide to have 10% there, then let it be.

Otherwise, you can zerorise Account 3,” he said. Lee also stressed on the importance of having sound financial literacy and discipline if an individual decides to opt in for Account 3.

“For those who want to opt in for Account 3, make sure you know how to manage it because you don’t want to come to a point where you will have no extra account to resort to in a crisis,.

“Think carefully, because you have from May until August to decide,” he said.

Malaysian Institute of Economic Research (MIER) head of research and senior research fellow Dr Shankaran Nambiar said while Akaun Fleksibel may affect funds available for house purchases, education and healthcare, it may be necessary in the event of an emergency.

“While it may be necessary to cover emergencies arising from floods and unexpected events, given the lack of a system that covers such events and the low savings rate for certain segments of the population, there has to be a wayout,” he said.

“I think, taking the desperate situation people get into, the EPF has found it necessary to make this arrangement; reality gets the better of what’s prudent,” he said.

On another note, Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said the Akaun Fleksibel may not have much of an impact on retirement savings.

“Akaun Persaraan (Account 1) was previously at 70%, and now the ratio has gone up to 75%. I suppose that should help mitigate the impact of Akaun Fleksibel’s (AF) withdrawal,” he said.

“If they need it immediately, perhaps an opt-in for initial loading will be an ideal choice,” he said.

“Otherwise, they can just let the Akaun Fleksibel accumulate and make the necessary withdrawals as they deem fit. And the amount in Akaun Sejahtera will be the same as in previous years if the members do not opt in,” he added.

For research fellow Dr Muhammad Abdul Khalid, the new EPF initiative serves as a “middle ground” in the government’s measures to balance public pressure on rising financial challenges and the need to strengthen an individual’s retirement funds.

“With this approach, you retain the flexibility to access your cash (via Account 3) as needed while simultaneously improving your retirement savings,” said Muhammad of the Institute of Malaysia and International Studies at Universiti Kebangsaan Malaysia.

However, Muhammad said this initiative would have a limited effect on assisting the vulnerable because not all of such workers possess an EPF account.

“Only half of non-pensionable workers are enrolled in EPF, leaving a large portion of the Malaysian workforce without adequate social protection. This means that nearly half of Malaysian workers won’t benefit from the initiative,” he said.Muhammad said that even if a low-income wage earner does have an EPF account, their savings are way too small.

“For instance, among the B40 that are EPF members, half of them have savings of less than RM250 in Account 2, and for the bottom 10%, half of them have less than RM10.

“They do not have enough to transfer to Account 3 for immediate withdrawal,” he said. Therefore, Muhammad said it is important for Putrajaya to come up with a more effective approach.

The EPF has launched Account 3, with members given a one-time opt-in option to transfer funds from their Account 2 to the newly launched “Akaun Fleksibel”.

The funds will transfer into Account 3 within 24 hours if a member opts in.

Source: TheStar.com.my

Penang Chief Minister Chow Kon Yeow expressed his hopes for the Penang Development Corporation (PDC) to continue collaborating with state and federal government agencies to create an environment conducive to the industrial ecosystem. He aims to ensure the development of more industrial parks equipped with high-quality infrastructure, positioning Penang at the forefront of investment value and maintaining its status as a key driver of national economic growth.

Speaking at the Hari Raya Aidilfitri open house event organized by the Penang Development Corporation on Thursday, Chow emphasized the pivotal role of PDC as the primary development agency of the state, particularly in providing ample industrial land.

Under the recently launched ‘2024-2028 Strategic Blueprint’, a major focus is the anticipated RM3 billion investment to acquire 3,000 acres of land in Seberang Perai for the development of new industrial parks to meet the growing industrial demands.

Chow highlighted PDC’s commitment to enhancing the quality of its existing industrial parks, particularly the Batu Kawan Industrial Park Phase 3 (BKIP 3) and the Batu Kawan Technology Park (BCTP), adopting the concept of ‘Infrastructure Ready’.

In pursuit of this goal, PDC has closely collaborated with Tenaga Nasional Berhad (TNB) to realize this new concept of infrastructure readiness.

During the event, the Chief Minister also officiated the launch ceremony for the second phase of the Taman Cassia Cempaka project, featuring double-storey bungalow and semi-detached homes.

According to PDC Properties Sdn Bhd, the project includes the construction of one double-storey bungalow priced at RM1,786,076 and 26 semi-detached units ranging from RM941,043 to RM1,189,346.

About Iconic Regency

A mixed development by Iconic Development Sdn. Bhd. at Sungai Nibong. Strategically located along Jalan Sultan Azlan Shah, next to SK Sungai Nibong. It is only 10 minutes walk to two future LRT Stations – Sungai Nibong & Pesta Stations. Featuring a 42-storey serviced suites with 268 fully furnished residential units.

Find out more about Iconic Regency

Source: Buletin Mutiara

Printed circuit boards (PCBs), radio frequency (RF) components and RF microwave/microelectronic assemblies manufacturer TTM Technologies Inc has opened its first large-scale plant in Southeast Asia in the Penang Science Park here.

The state-of-the-art facility, built on 10.9 hectares of land in Simpang Ampat, currently employs more than 75 engineering and technical graduates from Malaysian universities.

The Nasdaq-listed company’s expansion in Penang is aimed at serving its global commercial markets, especially in networking, data centre computing, medical, instrumentation and industrial.

“As part of our expansion strategy, we are creating about 1,000 job opportunities for the local community while equipping these employees with the latest knowledge in cutting-edge PCB technology solutions,” said TTM Technologies Inc president and chief executive officer Thomas Edman.

He said the firm is ramping up production, and the Malaysian facility expected to generate a full run rate revenue of about RM855 million by 2025.

“We still have room in this facility to complete phase one and room for phase two to add 25 per cent capacity to the facility,” he said in a press conference after the official opening ceremony of the plant.

He said TTM Technologies will be pursuing phase two at the end of this year, driven mainly by customer interests and demands.

“We are confident that our strategic expansion plan will allow us to bolster our presence, capitalise on new customer opportunities, expand our footprint and drive our market growth while tapping into the region’s thriving economy and vibrant ecosystem,” he said.

Earlier, Penang Chief Minister Chow Kon Yeow said TTM Technologies’ decision to set up its plant here signifies the confidence that foreign investors have placed in the state.

He said Penang is now positioned as an advanced manufacturing hub and now houses more than 350 multinational companies (MNC) and 4,000 small-medium enterprises (SME).

He said American investments had a significant presence in the state with a total RM6.7 billion in investments in 2023.

“This signifies that US companies are important industrial investors to Penang,” he said.

He said TTM’s presence in Penang will create new and exciting opportunity for local suppliers and further develop a robust and efficient supply chain ecosystem.

Source: MalayMail.com