Penang will soon have an 8.5km monopole transmission tower next to the Penang Bridge, connecting the Perai Power Station (SJ) Main Inlet Substation (PMU) to the Light PMU in Penang to strengthen the electric supply here.

Tenaga Nasional Berhad, in a statement released recently, said the project would bring a direct connection of electricity supply from the national grid to Penang through overhead line transmission from the mainland to maintain the island’s electricity supply.

The RM500 million project, which is under the jurisdiction of TNB, will be able to generate 2,000 megawatts (MW) of electric supply to the state upon completion.

It is expected to be completed in 2024.

This project is expected to see the establishment of 31 monopoles, with six of them to be in betel nut design.

Chief Minister Chow Kon Yeow said this project would play a crucial role in the state’s development in various areas in the future, as well as existing ones.

“We can plan and strategise ideas for big projects here in Penang, but we certainly can’t carry them out without sufficient power supply to support the operations.

“Hence, this project will be a huge boost considering the rapid industrial growth we are currently experiencing here, as well as benefiting the people in their daily lives.

“I was also made to understand that this project will be decorated with ecstatic lights, which will become an iconic landmark here in Penang.

“The state conveys its heartfelt appreciation to TNB and the Ministry of Energy and Natural Resources for this initiative,” Chow said in his speech before officiating the launch of the project at The Light Hotel in Seberang Jaya on the mainland yesterday.

Meanwhile, Minister of Energy and Natural Resources Datuk Seri Takiyuddin Hassan said the launch of this project was a timely one considering the only existing supply system on the island, SJ Gelugor, is expected to end its service contract in 2024.

Chow then said this project would also be a major boost to support the Penang2030 vision for ‘A Family-Focused Green and Smart State that Inspires the Nation’.

In a related development, it was recently reported that physical works, which include the construction of the tower foundation, installation of the tower structure, as well as conductor spanning works, are expected to begin by the end of 2022.

Among others present during the event were state Transport and Infrastructure Committee chairman Zairil Khir Johari and TNB chief executive officer Datuk Baharin Din.

Source: Buletin Mutiara

Malaysia’s overall overhang situation improved in the first half of 2022 (1H2022), with a drop of 7.5 per cent to 34,092 units from 2H2021 in terms of volume and a drop of 4.6 per cent to RM21.73 billion in terms of value, according to the National Property Information Centre’s (Napic) semi-annual report.

Napic said the overhang situation for service apartments has improved with more than 22,000 units worth RM19.32 billion registered in 1H2022, a 6.7 per cent decrease in numbers compared to the second half of last year.

Roughly 89 per cent of the entire overhang was made up of units priced RM500,000 and above.

According to Napic data, Johor has the largest overhang in the country with 15,423 units, followed by Penang with more than 5,000 units.

Kuala Lumpur and Selangor have 4,279 units and 2,248 units, respectively.

To minimise mismatch and control the overhang situation in the near future, Datuk Indera Mohd Shahar Abdullah, the deputy finance minister, urged property developers and authorities to pay attention to the overhang data and ensure that houses built were in line with buyers’ demand and affordability.

To ensure that the choices made are the right ones and do not contribute to the overhang stock in the future, he also advised stakeholders in the property sector to consult Napic’s Unsold Property Enquiry System Malaysia portal before planning new developments and carrying out a comprehensive feasibility study.

Meanwhile, as of the end of June 2022, there were over 24 million square metres of purpose-built office space available countrywide, with an occupancy rate of 77.7 per cent – down from 78.5 per cent the previous year.

Mohd Shahar said the supply situation for purpose-built offices and shopping centres is increasingly challenging.

He advised building owners to consider more cost-effective use choices so that the utilisation of space may be maximised to present a more favourable picture of the country’s investment potential, particularly during the era of economic recovery.

The Napic data showed that the performance of shopping centres weakened in 1H2022, with the national occupancy rate falling slightly to 75.7 per cent from 76.37 per cent in 2H2021.

Overall, the local real estate market had over 188,000 transactions totaling RM84 billion in 1H 2022.

According to Mohd Shahar, both the number and value of transactions recorded in the first half grew by more than 30 per cent as compared to the same period the previous year.

He said, transaction activities and value increased across the board for all property subsectors, including residential, commercial, industrial, agricultural, and development land.

Roughly 116,178 transactions totaling RM45.62 billion were registered in the residential subsector. This represented year-over-year growth of 32.2 per cent in value and 26.3 per cent in transaction volume.

Penang, Kuala Lumpur, Johor, and Selangor accounted for 47 per cent of the overall transactions.

Johor also saw the newest residential launches, accounting for nearly 23.8 per cent of all units nationwide, or 2,509 units, with a performance rate of sales of 31.8 per cent. Johor was followed by Sabah (1,335 units, or 12.7 per cent share, with 10.6 per cent sales rate), and Perak (1,317 units, or 12.5 per cent share, with 19.4 per cent sales rate).

Terrace houses dominated the new debuts, accounting for 68.2 per cent of the total with a 22 per cent sales rate.

Source: NST Online

Mah Sing Group Bhd, one of the biggest property development companies in Malaysia by asset size, intends to use the money raised from the sale of an undeveloped plot of land in Penang to buy more land in the future.

Its fully owned subsidiary Klassik Tropika Development Sdn Bhd is selling a parcel of land measuring 13,695 square metres in Georgetown’s Pykett Avenue off Jalan Burma to Morningjoy Sdn Bhd for RM66.33 million in cash.

Mah Sing said in a stock exchange filing that Klassik Tropika bought the land in 2009 for a planned high-end condominium construction.

The land is now unencumbered save for being mostly flat and unoccupied. The land’s net book value as of June 30, 2022, is RM61.85 million.

After deducting all anticipated costs associated with the exercise, Mah Sing anticipates recording a gain of RM1.8 million following conclusion of the sale in the fourth quarter of this year.

Mah Sing said the disposal of the land is in line with the group’s strategy to focus more on its “M-Series” type of residential land for the development of affordable properties that are in line with current market demand.

“Disposal of the land and replacement with M-Series lands with faster turnaround time will help optimise efficiency of the group’s landbank. The proceeds unlocked from the monetisation of the undeveloped land will free up cash for utilisation by the group for future land acquisitions.

“As the loan facility for the land has been fully settled, the proceeds from the disposal are expected to enhance the cash and bank position of the group,” it said.

Source: NST Online

Several roads in Penang will be closed to make way for the 26th edition of the World Congress on Innovation and Technology (WCIT) 2022.

Penang police chief Datuk Mohd Shuhaily Mohd Zain (pic) said roads which will be closed from 5pm on Sept 15 are Jalan Tun Syed Sheh Barakbah, Lebuh Duke and Jalan Padang Kota Lama.

“We are expecting around 4,000 delegations during the congress from Sept 13 to 15, and 7,000 people during the closing ceremony.

“The locations involved are Setia SPICE convention centre, Eastern and Oriental Hotel and the Esplanade.

“Delegations from both international and local are expected to come to the state to participate in the launch, exhibition, dialogue and closing ceremony of the programme,” he added.

He said traffic congestion is expected to occur around the Setia SPICE convention centre and George Town during the event.

“We hope the public can give full cooperation and plan their journeys by taking alternative roads to avoid congestion that may occur in the areas involved,” Comm Shuhaily said during a press conference at the northeast district police station on Friday (Sept 9).

Penang Yang di-Pertua Negri Tun Ahmad Fuzi Abdul Razak, Prime Minister Datuk Seri Ismail Sabri Yaakob, Chief Minister Chow Kon Yeow are expected to attend the congress.

Comm Shuhaily added that the public who wished to join in the closing ceremony on Sept 15 can park their vehicles at the multi-storey parking building at Lebuh Union and Lebuh Pantai as well as Lebuh King, Lebuh Penang, Lebuh Downing, Lebuh Union, Pesara King Edward and Lebuh Pantai, which is near the Esplanade.

On a separate issue, Comm Shuhaily said the number of motorcycle theft cases in the state had increased, especially after the reopening of borders.

“Motorcycle thefts usually involve models that have been discontinued. I believe the thieves are aiming for motorcycle spare parts,” he said.

He added that most of the stolen motorcycles were non-luxury models.

Comm Suhaily added that the police will monitor the increasingly rampant prostitution activities within the state.

Source: TheStar.com.my

A proposed 70-acre residential development by Chen Yu Land Sdn. Bhd. (a subsidiary of IJM Land) at Nibong Tebal. Strategically just a stone’s throw away from the entry point of Jawi toll, about 12 minutes drive to the south of Penang Second Bridge. It is within close proximity to several public amenities and government offices namely Land & District Office, District Education Office, District Police Headquarter and a few others.

This development will be completed in a few phases:

• Phase 1A: Shop offices (16 units), drive-thru restaurant (2 units)
• Phase 1B: 2-storey terrace (100 units)
• Phase 2: 2-storey terrace (60 units), 2-storey superlink (24 units), 2-storey semi-d (8 units)
• Phase 3A: 2-storey terrace (40 units), 2-storey superlink (14 units)
• Phase 3B: 2-storey semi-d (36 units), 2-storey clustered semi-d (60 units)
• Phase 3C: Low cost apartment (152 units) & future development

The same piece of land was formerly proposed for a project known as Senjayu@Jawi. The new plan is now pending approval with more details to be available upon official launch.

Project Name: (to be confirmed)
Location : Jawi/Nibong Tebal
Property Type : Residential
Built-up Size: (to be confirmed)
Land Tenure : (to be confirmed)
Indicative Price : (to be confirmed)
Developer: Chen Yu Land Sdn. Bhd. (IJM Land)

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.