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Tek Seng to acquire another three parcels of land in SPT

Property News/ 6 April 2023 No comments

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Tek Seng Holdings Bhd’s subsidiary, Wangsaga Industries Sdn Bhd (WISB), has recently entered into two separate sale and purchase agreements (SPA) to acquire three parcels of freehold land in Penang for a total cash consideration of RM33.96 million. The polyvinyl chloride (PVC) sheeting manufacturer announced the acquisition in a filing with Bursa Malaysia.

WISB has inked a SPA with Bagan Specialist Centre Sdn Bhd to acquire a land parcel in Seberang Perai Tengah for RM26.98 million, while another agreement has been made with Tan Chong Siang Sdn Bhd to buy two parcels of land in Seberang Perai Tengah for RM6.98 million.

Tek Seng stated that the purchase consideration would be funded by internally generated funds and/or bank borrowings. The acquisition is consistent with the company’s strategy of acquiring land banks near its current factories for potential investment and expansion purposes.

Tek Seng had purchased adjacent land parcels in 2021, and with the newly acquired land, the company’s total land holdings in that area will be 14 hectares.

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Outrage over 5-storey building plan at back of Penang’s oldest market

Property News/ 5 April 2023 1 comment

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In a move that has outraged heritage activists, the Penang Island City Council (MBPP) has approved plans for a five-storey building behind a 122-year-old market, the oldest in the city.

The Campbell Street market redevelopment project will include shophouses, parking lots and “studio rooms” to be built by the council itself. Public records show planning approval was given by the council in 22 days.

In its planning application submitted in February 2022, MBPP also proposes to “restore and retain” the front portion of the market. The council, in an immediate reply, said it would await Unesco’s feedback before proceeding with the project.

The decision has been met with opposition by George Town Heritage Action’s Mark Lay. He said the back portion of the market was an extension built in the mid-1900s, but currently not in use.

“While there might not be any use for it now, everything is sacrosanct,” he said. “It is unnecessary to have a five-storey building there, it is ridiculous.”

Lay said it was also shocking that the development site had been carved out as a Category II heritage site under the draft George Town Special Area Plan (SAP) and replaced with an “infill” or an earmark for possible redevelopment.

“It is upsetting that this was delisted, and a project is about to take off without any discussion with stakeholders. Unesco should take a look at the site before anything is built,” he said.

State heritage commissioner Rosli Nor said that based on the draft George Town SAP, the back portion of the market has been allowed for redevelopment, so as to improve the character of the site.

In a text message, he said the International Council on Monuments and Sites, which advises Unesco on World Heritage Site matters, will look into the proposed development.

Meanwhile, an MBPP spokesman said a technical review panel had approved the project last year, which included the restoration of the Campbell Street market.

“The development proposal has been referred to the national heritage department, which will consult the Unesco World Heritage Centre for further comment,” the spokesman said.

The Campbell Street market was built in 1901 on the site of an old Malay cemetery, known as “Hutan Mayat”. The cemetery was situated at the edge of the land that was provided to the Indian Muslim community for the construction of the Kapitan Keling Mosque in the 1800s.

The city council bought over cemetery land belonging to the mosque to build the market and a police station at the cost of 21,000 Straits dollars, a council handout from 2016 showed. The cemetery land was replaced with a piece of land at Perak Road. The central police station still stands behind the market today.

At the centre of the market lies the tomb of Sheikh Mustafa Wali of Afghanistan, a preacher and patron saint of poulterers. The British encountered trouble relocating the tomb and decided to keep it there enclosed in the walls. The site remains a Category I listed heritage.

The Campbell Street market was previously known as the Carnarvon Street market, as it was between the two streets. It is the second market in the city centre, after Chowrasta about 1km away.

Source: FreeMalaysiaToday.com

Blossom Suites

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Blossom Suites is a mixed development by Kobay Development Sdn. Bhd., located in the highly sought-after Tanjung Bungah area. Strategically situated along Jalan Tanjung Bungah, in front of The Waterfront Condominium, it is just a short drive away from the famous tourist belt of Batu Ferringhi.

The development will comprise a 42-storey building with two serviced residence towers, offering a total of 412 residential units and a 10-level multi-storey car park. The units range from single-bedroom units, measuring 506 sq.ft., to duplex units, measuring 2,852 sq.ft.

Project Name: Blossom Suites
Location: Tanjung Bungah
Property Type: Serviced residence
Built-up Size: 506 sq.ft. – 2,852 sq.ft.
Total Units: 412
Indicative Price: RM750,000 onwards
Developer: Kobay Development Sdn. Bhd.
Last Updated: Aug 2025

(This project first appeared in Penang Property Talk on 29/10/2016) 

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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.

RM16,000 cash prizes for My Ideal Homes 6.0 photo contest

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Executive Chairman of Ideal Property Group, Tan Sri Datuk Alex Ooi Kee Liang promotes creativity, community engagement, and appreciation for the art of photography through My Ideal Homes 6.0 photo contest.

Ideal Property Group, a leading property developer in Malaysia, is pleased to announce the launch of its latest photography contest, ‘My Ideal Homes 6.0’. The contest aims to encourage the public to capture and share their experiences at Ideal Property Group’s developments in Malaysia.

The contest, which runs from now until June 3, 2023, invites participants to submit their best photos under two categories, namely Architecture Charm and Drone Shot. Entries will be judged according to adherence to the theme, uniqueness, originality, and creativity.

Ideal Property Group has set aside RM16,000 in cash prizes for the winners, with a total of 8 consolation prizes up for grabs. The grand prize is RM3,000, second prize is RM2,000, and third prize is RM1,000.

“Through this photography contest, we hope to showcase the beauty and uniqueness of our developments while encouraging people to explore and appreciate them,” said Tan Sri Datuk Alex Ooi Kee Liang, Executive Chairman of Ideal Property Group.

Participation in the contest is simple and free. There is no limit to the number of submissions under each category, but each contestant is only allowed to win one prize. To enter the contest, participants to follow Ideal Property Group’s Facebook page and Instagram, snap some photos at Ideal Property Group developments, and submit their best photos to Ideal Property Group’s office at Bayan Lepas with both a print and a softcopy.

“We are excited to see the creative and unique photos that participants will capture. We encourage everyone, including our residents, to take part in the contest and stand a chance to win some fabulous cash prizes,” added Tan Sri Ooi Kee Liang.

PIA new multi-storey carpark is now open

Property News/ 3 April 2023 No comments

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The newly constructed seven-storey carpark at Penang International Airport (PIA) opens to the public on 1 April after obtaining the certificate of completion and compliance (CCC) from the relevant authorities.

Malaysia Airports Holdings Bhd (MAHB) managing director, Datuk Iskandar Mizal Mahmood said the new multi-storey carpark is anticipated to improve parking problems at PIA.

“We have been receiving numerous complaints about the congestion. Therefore, we are very pleased that we are now able to address the situation,” he said in a statement here today.

Iskandar Mizal said the new facility is able to provide 1,742 parking bays including 22 for the disabled, and 660 bays for motorcycles.

The facility is equipped with automatic plate number recognition and car finder application kiosk so that users can easily locate their cars.

Iskandar Mizal said the development of this facility was also in line with the airport’s future expansion plans and the first phase which is expected to commence soon would see the airport capacity increased to 12 million passengers per annum (MPPA) from 6.5 MPPA currently.

Source: Bernama

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