After four years of transformation, the Penang Hill Gallery @ Edgecliff is finally open!

From its outdoor terrace and balconies, the impressive art deco-styled bungalow offers an amazing 270-degree view of Penang island.

Its interior features various artefacts, exhibits and stories of the hill. The Penang Hill Gallery @ Edgecliff is not just a gallery but an education centre that is surrounded by rich flora and fauna.

Penang Hill Corporation (PHC) senior manager Shahril Cheah said the gallery is divided into five sections – time tunnel, biodiversity, heritage, funicular, and culture.

“Each section allows us to embrace more than a century of Penang Hill’s history, as though we are travelling back in time.

“The journey starts from the time tunnel, followed by the biodiversity section for visitors to explore an ‘indoor forest’, and a sneak peak into the Penang Hill Biosphere Reserve that was recently listed under the Unesco’s Man and the Biosphere Programme.

“The heritage section offers visitors to discover stories behind each bungalow on the hill and to admire the engineering marvel and the construction of the funicular.

“Lastly, the historic culture and transformation of the Penang Hill Gallery @ Edgecliff are displayed at the culture section,” he read out the speech by PHC general manager Datuk Cheok Lay Leng, who was unable to be present, today.

Cheah said the corporation was proud to announce that Penang Hill Gallery @ Edgecliff was the first project in the country that had achieved certification under the Green Building Index Non-Residential Existing Building (NREB) Historic Building Tool.

“The gallery is equipped with sustainable features such as solar panels, a rain harvesting system and a motion sensor lighting as part of our efforts to conserve enerygy, in line with our environmental sustainability goal.

“Our special thanks go to First Solar Malaysia for the contribution of solar panels, in support of the Penang government and PHC’s green initiatives,” he said.

Chief Minister Chow Kon Yeow congratulated the PHC team, consultants, contractors, volunteers, and contributors for playing significant roles in restoring the heritage bungalow and repurposing it for educational and heritage use.

“The state government fully supports the effort of repurposing the Edgecliff premises for educational and cultural purposes.

“This heritage project involved the creation and reliving of the historic Edgecliff bungalow that was built by the architect J.C. Miller in 1937.

“And today, PHC has turned it into a gallery and education centre. This is definitely not an easy task that can be accomplished overnight.

“It requires relentless efforts, dedication and commitment to restore and revitalise this 85-year-old state-owned bungalow which is perched on a steep slope on Penang Hill and nestled within the Penang Hill Biosphere Reserve.

“Since the start of the Edgecliff bungalow project in 2019, the continuous works to strengthen the hill slopes and conservation of this Category II heritage building were carried out systematically by PHC,” he said before opening the gallery.

Chow said the Penang Hill Gallery @ Edgecliff would provide a great insight into rich diversity, history, traditions and funicular engineering of Penang Hill.

Source: Buletin Mutiara

About GEM Residences

GEM Residences, a commercial development by Belleview Group at Prai, Penang. It is part of the company’s 6 hectares mixed development along Jalan Baru, diagonally opposite Megamall Penang. Next to it will be the upcoming largest mall in the northern region – GEM Mall, the tenant mix include SOGO (first and largest departmental store in the northen region at 212,000 sq.ft.) and a supermarket (largest at 50,000 sq.ft.).

Find out more about GEM Residences

The monetary policy committee (MPC) of Bank Negara Malaysia announced today that it has raised the overnight policy rate (OPR) by 25 basis points, raising it to 2.25%.

This came amid rising food and energy prices.

“The ceiling and floor rates of the corridor of the OPR are correspondingly increased to 2.5% and 2%, respectively,” it said in a statement.

In May, the central bank raised the OPR to 2% from 1.75%, reportedly the lowest on record, following a 25 bps cut in July 2020, citing the severity of the global economic slowdown as a result of the pandemic and the contraction of Malaysia’s economic activity.

In a statement issued after the MPC meeting today, BNM noted that the reopening of the global economy and the improvement in labour market conditions continued to support the recovery of economic activity.

“However, these have been partly offset by the impact from rising cost pressures, the military conflict in Ukraine and strict containment measures in China,” it said.

The central bank noted that inflationary pressures have continued to increase mainly due to elevated commodity prices and strong demand conditions, despite some easing in global supply chain conditions.

Consequently, it expects central banks to continue adjusting their monetary policy settings, some at a faster pace, to reduce inflationary pressures.

“Going forward, the pace of global growth is expected to moderate, and will continue to be affected by the elevated cost,” BNM added.

BNM noted that in Malaysia, economic activity has strengthened in recent months as reflected in the growth momentum in exports and retail spending as the nation makes the transition into endemicity.

It said the unemployment rate also declined with higher labour participation and improving income prospects.

“Looking ahead, while external demand is expected to moderate, weighed down by headwinds to global growth, economic growth will be supported by firm domestic demand,” it added.

Year-to-date, inflation averaged 2.4% and it is project to be within the 2.2% to 3.2% range for the year but the headline inflation may be higher in some months due mainly to the base effect from electricity prices.

“Nevertheless, the extent of upward pressures on inflation will remain partly contained by existing price controls, fuel subsidies and the continued spare capacity in the economy,” it explained.

Moving forward, the committee said, the inflation outlook would hinge on global commodity price developments, mainly due to the conflict in Ukraine and prolonged supply related disruptions, as well as domestic policy measures.

“On the back of the positive growth prospects for the Malaysian economy, the MPC decided to further adjust the degree of monetary accommodation,” the statement said.

BNM also pointed out that the reopening of international borders on April 1, 2022 would facilitate the recovery of the tourism sector while investment activities and prospects would continue with the realisation of multi-year projects.

It cited a weaker-than-expected global growth, further escalation of geopolitical conflicts, and worsening supply chain disruptions as key downside risks to growth.

It said that at the current OPR level, the stance of the monetary policy would remain accommodative and supportive of economic growth.

Source: FreeMalaysiaToday.com

The Penang Waterfront Convention Centre (PWCC), which is set to be the largest convention centre in the state, will act as a catalyst for more events to take place in the state after its scheduled completion in the first quarter of 2025.

Chief Minister Chow Kon Yeow, who was present to inspect the work’s progress of The Light City project, expects the PWCC, measuring about 76,000sq ft, to be a key venue attraction for major events.

“We welcome the construction of PWCC to accommodate more huge events to take place in Penang as more business visitors will visit the state.

“Of course, we have the Setia SPICE Convention Centre in Bayan Lepas to cater to various events, but a bigger convention facility is needed as an alternative.

“The conclusion of the prestigious SEMICON Southeast Asia (SEA) 2022 in Setia SPICE Arena and Convention Centre last month has proven that a larger facility will be a boost for us.

“This is to ensure that more events can take place in Penang, rather than they are held in our neighbouring countries.

“We look forward to PWCC’s completion,” he said in his speech after visiting the project site this evening.

The ongoing construction works of The Light City project, which is located next to the Penang Bridge, is developed by IJM Perennial Development Sdn Bhd (IJMPD).

The shopping-centre component of the mixed development will feature a variety of retail tenants.

The RM4.5bil mammoth mixed development project has two phases. The first phase includes The Waterfront Shoppes, PWCC, hotel & office tower and Mezzo residences, while the second phase comprises The Waterfront Shoppes, Commercial Tower (future development) and Essence residences.

Both phases are expected to be completed in the first quarter of 2025.

IJMPD general manager Tan Hun Beng, who briefed Chow and the media personnel earlier on the project, noted the state’s needs to have a bigger convention hall to cater to more huge events.

“We will do our best to speed up the construction’s progress to ensure PWCC can be completed soon.

“It is our hope to assist the state in bringing in more exhibitions and conferences,” he said.

Also present was IJMPD director Datuk Toh Chin Leong.

Source: Buletin Mutiara

Tenaga Nasional Bhd (TNB) is investing RM500mil to strengthen the electricity supply in Penang.

In a statement published two weeks ago, TNB 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 8.5km monopole transmission tower project, connecting the Perai Power Station (SJ) Main Inlet Substation (PMU) to the Light PMU in Penang, was built in parallel with the Penang Bridge and is the second of its kind in Malaysia,” TNB said.

TNB chief grid officer Datuk Ir. Husaini Husin said the project, expected to be completed by the end of 2024, will be an iconic landmark of Penang due to the unique transmission line tower with a betel nut design.

He added the project would ensure that the capacity of the existing supply system is not affected when the only power station on the island, SJ Gelugor with a generating capacity of 300 megawatts (MW), is scheduled to end its service contract at the end of 2024.

“Peak load demand on the island recorded in January 2020 reached 777.85MW compared to the existing supply system capacity (firm capacity) of 1,130MW. We want to ensure this capacity is stable when SJ Gelugor ends its service,” Husaini said.

The first TNB’s monopoly overhead line project has been completed along 4.2km connecting Pantai Siring to Pulau Besar Melaka; the land survey work for the second project is being carried out in the sea area near the Penang Bridge.

Husaini said the project is part of TNB’s ongoing investment in developing and modernising the national grid into a stable and reliable smart grid in meeting the country’s energy transition needs.

“The reinvestment from TNB’s business results is a two-pronged approach, namely ensuring the efficiency and reliability of the electricity supply network for customers to enjoy, as well as creating activities that inject into the country’s economic recovery, especially in a post-Covid-19 pandemic,” he added.

Source: TheStar.com.my