The Monetary Policy Committee of Bank Negara Malaysia kept the Overnight Policy Rate (OPR) at 2.75 percent. Despite positive developments such as the reopening of China’s economy and better-than-expected growth in major economies, the global economy continues to be affected by elevated cost pressures and higher interest rates. Some central banks are expected to continue raising interest rates to control inflationary pressures, which could pose headwinds to the global growth outlook.

The Malaysian economy grew by 8.7% in 2022 due to the recovery in private and public sector spending after the economy fully reopened. In 2023, the economy is expected to moderate amid a slower global economy, with domestic demand continuing to drive growth. Tourist arrivals are expected to rise, while infrastructure projects and investment activity will be supported.

Headline and core inflation are expected to moderate in 2023, but will continue to be elevated due to demand and cost factors. The MPC will continue to assess the impact of the cumulative OPR adjustments, and will calibrate monetary policy settings to balance risks to domestic inflation and sustainable growth.

Almost five years after construction began, the Penang International Airport multi-storey car park is expected to begin operations next month.

The car park was supposed to be ready by the end of 2019.

According to Transport Minister Anthony Loke, works are progressing at 99.79 per cent and entering the final phase.

“This includes touch-up works as well as testing and commissioning of the mechanical and electrical (M&E) system.

“Malaysia Airports Holdings Bhd (MAHB) has given its assurance that the multi-storey car park shall be completed by the end of this month and will start to operate early next month.

“MAHB’s focus now is to complete the project so that the public will be able to use the facility soonest,” he told the New Straits Times when contacted.

Answering to an oral question at the state legislative assembly sitting back in May 2019, Chief Minster Chow Kon Yeow had then said that construction works for the car park building had begun in August 2018 and would take 14 months to complete.

The seven-storey car park, on the existing 650-bay open car park site, cost RM70 million to build.

The 2,200-bay covered car park will be able to cater to the needs of travellers who can now leave their vehicles at the airport when heading out on short trips.

The construction of the car park building was part of the airport expansion project mooted in 2008.

Loke said, prior to the pandemic, the project had achieved 88.8 per cent of work progress.

He said the Movement Control Order (MCO), construction material price hike post-pandemic, materials shipment disruptions, shortage of manpower as well as issues faced by the contractor had further contributed to the project delay.

“MAHB had carried out a recovery plan and has directly appointed the sub-contractors to complete the remaining works by the end of this month,” he added.

He was also asked if there was any truth to claims that the car park could not be used earlier due to construction issues.

Loke said, prior to the commencement, the multi-storey car park project had obtained approval from the Penang Island City Council (MBPP) for the planning approval and building plan approval.

He stressed that the Professional Architect had complied to the Uniform Building By-Laws (UBBL 1984) specifications and design.

“As such, the width of the ramp structure/flyover is sufficient for cars to enter.

“In addition, the ramp is also currently being used by cars and small lorries entering the project site (construction workers’ vehicles) without any problems,” he assured.

When tabling the 2023 Budget in Parliament recently, Prime Minister Datuk Seri Anwar Ibrahim had announced a project to expand the PIA and Subang Airport and halted plans to build a new airport in Kulim.

He had said that the expansion of the two airports, to be spearheaded by MAHB, would benefit the economy at a cost that was much lower than the cost of building a new airport in Kulim, which is estimated to cost RM7 billion.

During a recent visit here, Loke had said that expansion of the PIA will begin by the end of this year, and that he had directed MAHB to expedite the project.

The expansion will see the capacity of the airport, the third busiest in the country, increase to 12 million passengers annually from the current 6.5 million passengers. The floor space would also be increased by 100 per cent.

Source: NST Online

If you’re looking for a luxurious and spacious lifestyle, Eco Horizon is the perfect township for you. Spanning across 300 acres of freehold land in Batu Kawan, Penang, Eco Horizon is a unique blend of commercial and residential components with prominent landed properties.

Residential Component: Beldon Collection NEW PHASE Semi-D Product

The Beldon Collection New Phase Semi-D is the crown jewel of Eco Horizon’s residential component. It comes in two sizes, 34’x80′ and 34’x85′, with four (4) layouts to choose from. Each unit features a 10ft private garden, providing a tranquil escape from the hustle and bustle of city life.

With up to five (5) bedrooms and four (4) bathrooms, the Beldon Collection New Phase Semi-D Product offers ample space for growing families or those who love having extra room to move. Plus, each unit comes with one (1) maid room and one (1) maid bathroom, adding an extra layer of convenience for homeowners.

Gated and Guarded Community

At Eco Horizon, security is a top priority. That’s why we offer a gated and guarded community, providing a safe and secure environment for you and your loved ones. Our development is equipped with state-of-the-art security technology and highly trained personnel committed to ensuring that homeowners can enjoy complete peace of mind, knowing that their families and belongings are in safe hands.

Prime Location and Convenient Amenities

Situated in a prime location in Batu Kawan, Penang, Eco Horizon is surrounded by an abundance of convenient amenities, such as F&B outlets, Ikea, Klippa Mall, Design Village, and more. Everything you need is within arm’s reach, so you can enjoy the luxuries of modern living without sacrificing convenience.

Enjoy Facilities

Eco Horizon boasts a range of impressive clubhouse facilities that are worth noting. Despite residing in a landed property, homeowners can still enjoy the same amenities offered in high-rise developments. These amenities include an Olympic-sized swimming pool, a full basketball court, a state-of-the-art gym, a children’s playground, a family-friendly BBQ pit, and a fully-equipped event hall for hosting private parties. With these facilities, Eco Horizon is the ideal place for families and individuals seeking a fulfilling and active lifestyle.

Are you ready to experience the epitome of luxury living? The Beldon Collection New Phase Semi-D is open for registration, and you can book a show unit tour today! This is your chance to witness the breath-taking design and superior finishes that make Eco Horizon stand out from other developments in the area.

Don’t miss out on this opportunity – register now for a show unit tour and experience the luxury living that Eco Horizon has to offer!

WhatsApp https://bit.ly/PPTrobert for more information now!

E&O’s second serviced residence project at Andaman, Arica Executive Homes, follows the successful sales of The Meg, which is now fully sold out. Positioned adjacent to The Meg, Arica boasts similar benefits of convenient access to various commercial amenities in the future such as workplaces, educational institutions, hospitality, healthcare, wellness facilities, retail outlets, cafes, and restaurants. It is located just a short distance away from the waterfront promenades on Gurney Green, which provides an excellent venue for daily outdoor activities, coupled with stunning views of Gurney Wharf.

Arica comprises a 45-storey skyscraper with 380 residential units, featuring a built-up size ranging from 947 to 1,259 sq.ft. Every unit in Arica will come fully furnished with essential furniture and appliances inclusive of air-conditioners, TV, washer & dryer, fridge, oven and etc.

Project Name : Arica
Location : Andaman Island, Off Gurney Drive
Property Type : Serviced residence
Tenure : Freehold
Land Area: 2 acres
Built-up Area: 947sq.ft. – 1,259sq.ft.
Total Units : 380
Indicative Price: RM811k onwards
Developer : Persada Mentari Sdn. Bhd. (a subsidiary of E&O Berhad)

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.

The Penang South Islands (PSI) project is set to generate economic growth following the signing of the Project Development Agreement (PDA) between the state government and Silicon Island Development Sdn Bhd for Island A.

Chief Minister Chow Kon Yeow said Island A, measuring 2,300 acres, would be developed for the betterment of the people.

“This PSI project is a milestone for Penang as it will generate growth for the state.

“It is also considered a Penang Economic Transformation project to establish an internationally-renowned hub.

“We had in 2021 announced that the development of Island A will be implemented through a joint venture. This includes the public-private partnership between the SRS Consortium and the Penang Infrastructure Corporation (PIC),” he said in his speech during the signing ceremony at Dewan Sri Pinang.

Under this agreement, Chow said the state has permitted Silicon Island Development Sdn Bhd to develop Island A.

“SRS Consortium will bear the capital equity while the state will ensure Island A is developed accordingly,” he said.

Chow emphasised the project’s significance to Penangites in the future.

“PSI plays an important role in line with the state’s initiative to develop the electrical & electronics (E&E) sector.

“We plan to have a smart and green city that fulfils the Environmental, Social and Governance (ESG) concept,” added Chow.

He pointed out the project would generate 460,000 job prospects in various sectors.

“It can also address the brain drain issue in the state,” he said.

Chow said although the project would take a long time to materialise, the younger generation would benefit from the initiative.

“We hope to obtain a favourable Environmental Impact Assessment (EIA) report to ensure the project can kick start soon,” he added.

Source: Buletin Mutiara