To lower the cost of a house, the government and state authorities need to cut red tape and fees associated with housing developments.

National Housing Buyers Association (HBA) honorary secretary-general Datuk Chang Kim Loong said cutting bureaucracy by 50% would help developers bring down costs.

He said whatever extended time developers take in getting approvals would translate to holding costs that would eventually be factored into the sales price, that is passed on to house buyers.

“What happened in Ukraine was unforeseen and beyond our control. But what is within control is reducing red tape and expediting projects. Otherwise, it would increase the cost for buyers.

“Some of the approvals take years. If we can cut it by half, developers can offer a better price,” he said.

Chang was responding to a new framework that will be set up by the National Affordable Housing Council to address the increasing cost of construction.

He said the build-then-sell concept would be more beneficial to the B40 and M40 groups, as it is effective in reducing abandoned projects.

He also questioned the need for more new projects as there are currently plenty of empty units in the city.

Penang Rehda chairman Tan Hun Beng echoed Chang’s view on the need to cut red tape to keep costs down.

“Not only red tape should be cut, but also other costs associated with housing development such as fees paid to the government. For example, when a developer wants to convert agricultural land to housing, there is a hefty premium involved.

“To top this off, different states have different formulas in calculating the conversion premium that needs to be paid.”

Tan said when a developer submits a change of title use application, it could take several months in some states and up to a year in others. He pointed out that all this adds to the holding cost for the developer.

He said a developer would have to take a bank loan while waiting for the conversion title. In the process, the developer will have to pay interest on the loan, which will add to the project cost.

“If the authorities can cut down on the waiting time and fees, it would help bring down the cost of a house.”

He said all developers are businessmen, and they need to make a profit. But this is not huge for housing projects.

Tan added that because housing development is a competitive business, no developer would price houses above what the people can afford as nobody would buy them.

“Time is money from the point of financing and for a developer, the faster the approval, the cheaper the house,” said Tan, adding that the government needs to cut the red tape and fees if it wants houses to be sold at a lower price.

Source: TheSunDaily.my

About Garden Superlink II @ Jesselton Hills

The second phase of Garden Homes Collection in Jesselton Hills, Alma by Wing Tai Asia. It comprises 75 units of two-storey superlink homes with extended size up to 26ft wide, surrounded by lush greenery and wholesome recreational amenities. The residential enclave is strategically located close to comprehensive public amenities for commercial and leisure.

(Photos taken in April 2022)

Find out more about Garden Superlink II @ Jesselton Hills

South Korean semiconductor giant, Simmtech Holdings Inc., through its Malaysia-based subsidiary, Sustio Sdn Bhd, has officially opened its new manufacturing facility in the Batu Kawan Industrial Park (BKIP) today.

Simmtech Southeast Asia managing director Jeffery Chun said it is the company’s first advanced manufacturing facility in Southeast Asia that is based in Penang.

“It is also our eighth factory along with other operations in Korea, China, and Japan.

“In May last year, Sustio broke ground on an 18-acre site at BKIP, investing more than RM600 million.

“Despite the lockdown caused by the Covid-19 situation, the practical construction work took only nine months to complete, and the factory is now fully equipped and ready to run mass production.

“This new factory has already employed more than 700 workforces and it will reach its full employment of more than 1,000 employees by next year.

“This new factory will also deliver the first ‘Made in Malaysia’ semiconductor memory chip packaging substrate and printed circuit board (PCB), bolstering Malaysia’s semiconductor supply chain even further,” Chun said in his speech at the opening ceremony today.

Also present were Bukit Tambun assemblyman Goh Choon Aik, Chief Minister of Penang special investment adviser Datuk Seri Lee Kah Choon, InvestPenang chief executive officer Datuk Loo Lee Lian, South Korea’s ambassador to Malaysia Lee Chi Beom and Malaysian Investment Development Authority (Mida) (investment development) deputy chief executive officer Lim Bee Vian.

According to Chun, the new factory in Penang would increase Simmtech’s total capacity of substrate and PCB by 20%.

“This will immediately contribute to improving the semiconductor industry supply constraint situation which can aptly address the needs among the industry players.

“We have already engaged with our key customers for the new site qualification programme and are expecting to start delivering a mass volume of substrate and PCB products to the customers from the second half of this year.

“At the same time, we are very grateful to Malaysia’s Federal Government agency through Mida and the Penang government agency, InvestPenang, for their tireless support of our project. We couldn’t have navigated our project under the challenging environment without them,” Chun added.

Chief Minister Chow Kon Yeow, who graced the ceremony, said the Penang government is pleased to see an emergence of players along the semiconductor supply chain.

“This has enabled the state to reap a myriad of benefits from the increased robustness of its well-developed industrial ecosystem.

“Being the first major Korean investor from the semiconductor industry in Penang and a critical supplier for memory module PCB and substrate, the presence of Simmtech, through its Malaysia-based subsidiary, Sustio, is poised to bring greater opportunities for supply chain resiliency.

“The state government via InvestPenang, and other relevant state agencies are committed to ensuring a versatile talent pool, supportive infrastructure, and resilient industry clusters.

“These are among the imperatives for effective supply chain management and sustained competitiveness, all of which are believed to add value to Sustio’s operation in Penang.

Source: Buletin Mutiara

A proposed luxury residential development by Crescent Consortium Sdn. Bhd. at Batu Ferringhi. Located on a 5.8-acres land along Jalan Batu Ferringhi, next to Bayu Ferringhi Condominiums. It is just a short drive to the famous tourist belt of Batu Ferringhi,  about 2km to Uplands International School.

This development will see the construction of two 37-storey condominium blocks, featuring 174 residential units with three different layout type to choose from:

• Type A – 114 units (1,781sq.ft.)
• Type B – 58 units (1,122sq.ft.)
• Type C – 2 units (2,349sq.ft.)

There will be six levels of car parking podium and the facilities will be located at level 7 and roof-top.

The project is still pending approval. More details to be available upon official launch.

Project Name: (to be confirmed)
Location : Batu Ferringhi
Property Type : Condominium
Total Units : 174
Built-up Size: 1,122sq.ft., 1,781sq.ft. & 2,349sq.ft.
Land Tenure : (to be confirmed)
Indicative Price : (to be confirmed)
Developer: Crescent Consortium Sdn. Bhd.

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.

With just three simple steps, four individuals walked away with their dream homes.

They took part in the ‘Vax to Win Campaign’ last year, initiated by Aspen Group to promote Covid-19 vaccination among Malaysians.

It required the participants to upload their digital vaccination certificate, answer a few simple questions and create a catchy slogan based on the theme ‘Emerge Stronger for the Nation’ in no more than 20 words online.

The campaign, which started in June last year and ended on March 31 this year, saw the participation of over 6,000 people nationwide.

Twenty-eight individuals were shortlisted as winners. The grand prize winner walked away with a unit of Aspen’s very own Batu Kawan Resort Home, called the Vertu Resort.

Meanwhile, the first to third prize winners bagged a unit of the Vivo Executive Apartment in Batu Kawan each.

The fourth to seventh prize winners took home RM15,000 worth of IKEA gift cards; while the remaining 20 consolation prize winners, brought home IKEA gift cards worth between RM5,000 and RM10,000.

The grand prize winner was Hong Siew Hong, while the first, second and third prize winners were Yazid Ismail, Lim Seng Huat and Ong Chee Beng respectively.

Yazid, who is a policeman from Seberang Perai, was glad to have won a Vivo Executive Apartment unit.

“I am happy to win this property but I do not have any plan as to when will I be moving into this unit yet,” he said.

Hong’s son Goh Sau Hong, 30, who was present, was equally delighted that his mother had won the grand prize.

“It was like a dream come true,” he said.

Aspen Group executive deputy chairman Datuk Seri Nazir Ariff said the nationwide campaign was launched in conjunction with the country’s 64th National Day last year when the Covid-19 vaccination drive was into its second phase and many controversies about the vaccine arose.

“Despite many uncertainties, many Malaysians took the courageous step of being inoculated to emerge stronger from the Covid-19 pandemic.

“That is the spirit with which we wanted Malaysia to forge ahead, with renewed vigour and a positive outlook.

“That was the sole reason why we launched this campaign nationwide. We played our part in accelerating the vaccination process while encouraging Malaysians to get vaccinated. In return, we gave them a deserving chance to be rewarded with these prizes.

“I wish to congratulate all the 28 lucky winners today. You are not only winners but also the representation of our nation’s resilience,” Nazir said in his speech during the ‘Vax to Win Campaign’ prize-giving ceremony at Aspen Vision City Sales Gallery in Batu Kawan today.

Meanwhile, Chief Minister Chow Kon Yeow applauded Aspen for spearheading such an initiative, which was vital during the time of many controversies surrounding the issue of vaccination.

“The state government is proud to see Penangites, especially eligible adults who have completed their two doses of vaccine.

“Nonetheless, the state will not let its guard down and will continue to spearhead its vaccination efforts.

“I hope that with initiatives not only from the state government but also from the private sector, Penang will be the first state to complete its vaccination process among its population.

“As for today, I must say, winning such prizes, which include one high-end condominium and three executive apartments, piqued my interest.

“These homes, as well as the gift cards, will undoubtedly mean a lot to the winners, and I am delighted for all of them.

“Having said that, I look forward to more visionary efforts from Aspen Group that will benefit the people,” Chow said during his speech.

Source: Buletin Mutiara