Nasdaq-listed printed circuit boards (PCBs), radio frequency (RF) components and RF microwave/microelectronic assemblies manufacturer TTM Technologies Inc is investing US$130 million (about RM550 million) to set up a plant in Penang.

In a joint statement on Monday (April 25) in conjunction with the plant’s ground-breaking ceremony, Malaysian Investment Development Authority (MIDA), InvestPenang and TTM said the latter’s expansion to Penang is in direct response to customer requirements for advanced technology PCB supply chain resiliency and diversification in regions beyond China.

They said TTM selected Penang as the location for this new plant after an extensive review of multiple countries with careful consideration of investment and operating costs, customer proximity and supply chain support.

Penang is also attractive due to its well-established electrical and electronics (E&E) industry ecosystem.

The new plant will serve TTM’s global commercial markets including networking communications, data center computing, and medical, industrial, and instrumentation.

Penang Chief Minister Chow Kon Yeow said Penang is recognised as one of the major players in the global semiconductor industry, particularly in the areas of assembly and test as well as equipment manufacturing.

“The state, via InvestPenang, strives to bolster our efforts to outpace investors’ expectations by providing continuous facilitation and utmost support along the journey,” he said.

This state-of-the-art, highly automated plant will be built upon approximately 27 acres of industrial land at Penang Science Park.

Construction is expected to take 12 to 15 months followed by equipment installations in mid-2023.

Pilot production is targeted to begin in the second half of 2023, with volume production commencing in 2024 and gradually ramping up to full Phase 1 capacity in 2025.

TTM expects the new plant to achieve full run rate revenue of approximately US$180 million (approximately RM761.5 million) in 2025.

The factory has also been planned to support a 25% upside Phase 2 expansion.

TTM president and chief executive officer Thomas Edman said the plant marks the start of an important new chapter to support customers with differentiated high value-add engineering and PCB product solutions on a global basis.

“As an early-mover into Southeast Asia for the production of advanced technology PCBs, TTM is responding to our customers’ needs for supply chain resiliency, regional diversification and growth capacity,” he said.

Source: TheEdgeMarkets.com

A newly proposed serviced residence by DH Land Sdn. Bhd. at Permatang Pauh. Located on 1.68 acres of land along Jalan Permatang Pauh, diagonally opposite Caltex petrol station. It is only 1km to Butterworth/Kulim Expressway interchange, less than 5 minutes drive to Sunway Carnival Mall at Seberang Jaya.

This development comprises a 24-storey skyscraper, featuring 165 serviced residence units with a standard built-up size of 850sq.ft.. There will be 8 levels of car parking podium with 3 units of shop lot located at ground level.

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

Project Name : (to be confirmed)
Location : Permatang Pauh
Property Type : Affordable housing
Land Tenure: (to be confirmed)
Total Units: 165 (residence)
Built-up Size: 850sq.ft. (residence)
Indicative Price: (to be confirmed)
Developer : DH Land 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.

Buyers are going for more recreational facilities to be included in their housing projects.

“Environment and lifestyle now play a big part in their decision-making process.

“Gone are the days when home owners only want a roof over their heads,” said Malaysian Institute of Estate Agents president Chan Ai Cheng.

The top three facilities buyers would look for are a swimming pool, well-equipped gymnasium and games court, according to Chan.

In a gated and guarded community, buyers also want security, walk paths and cycling tracks, and extensive landscaping for that “resort feel”, she said.

Within a high-rise development, extensive facilities including rooftop gardens, car parks, impressive entrance statements and lift lobbies are much sought after.

To impress buyers, developers are building new and improved facilities.

“Developers are setting a new standard in terms of the number of facilities within a development.

“They are the key in attracting would-be home owners and as such, developers would go all out to impress buyers,” she said.

However, Chan said recreational facilities may not be enough, especially for teenagers who need more space for games and sports.

In the city, there is an issue of space due to high land cost, she said.

“This is where games centres could come into play.

“The centres could house tennis or badminton courts, swimming pools and other activities under one roof,” said Chan.

Real Estate and Housing Developers’ Association Malaysia (Rehda) acting president Datuk NK Tong said: “There is a trade-off between providing more facilities and making homes more affordable.”

Tong said the amenities have maintenance costs as well.

“We don’t want to put in something that is too expensive to maintain,” said Tong, adding that open green spaces have remained a popular requirement among homebuyers.

“Trends are changing all the time but for young families, open parks are still very popular,” he said.

For landed development, developers are required by the authorities to provide parks but there are also developers of bigger townships that go the extra mile by offering extra facilities, he said.

Source: TheStar.com.my

About Terraces Condominium

A highrise residential development by IJM Land at Bukit Jambul, Penang. Strategically located on 9.32 acres of land next to INTI International College. It comprises a 34-storey condominium tower, featuring 410 residential units with two different design types to choose from.

Find out more about Terraces Condominium

A proposed new law on tenancy of rented houses, which is to deal with racism in the housing market, has drawn two opposing views on when it should be taken to Parliament.

A representative of house buyers, Chang Kim Loong, says the government should focus on the economy instead as the law will not be able to reduce racial discrimination in the housing market.

However, James Raj, who is with a parliamentary group for sustainable development, says the law should be tabled in Parliament at its next meeting in July.

Chang, who is secretary-general of the National House Buyers Association, said the Residential Tenancy Act was unnecessary at this time. He disagreed with the stated objective of dealing with racial discrimination as stated by a minister two years ago.

“The focus should be on reviving the economy. Perhaps the proposed RTA should be revisited in five years’ time,” he said.

“Unfortunately, racism and racist practices are prevalent not only in the tenancy market but in other areas of life and society. Look around and you will arrive at your own conclusion.

“If I am to let out my property for rent, I don’t care about your skin colour. If you can pay, I will let it to you. Let’s say a Chinese person comes to me and offers RM2,000 in rent but the next person, who is Malay, offers me RM2,300. Obviously, I will accept the higher rent.”

Chang said that rather than using the new law to combat racism, it might be better to educate landlords and tenants on their shared roles and responsibilities.

He said the problem may lie in the perception that people of certain ethnic groups make for less palatable tenants, which might have been perpetuated by a lack of understanding or education of different cultures.

Penalties for racist landlords

Raj, who is an officer of the all-party parliamentary group on sustainable development, urged the government to table the Act at the next Dewan Rakyat meeting in July.

He said the Act could deal with the problem of racism if the law contained enforcement provisions, such as penalties on landlords who practise racial preferences in their advertisements.

He said prospective Indian tenants were placed at a disadvantage by such advertisements.

“The landlords should not mention the race at all when they want to rent out their property. We are talking about fostering inclusivity in Malaysia, a safe, equitable and affordable environment,” he said.

The proposed RTA has been the subject of a month-long consultation session organised by the housing ministry in February.

Its minister Reezal Merican Naina Merican was reported as saying recently that the ministry is seeking more feedback before the proposed law is tabled.

Source: FreeMalaysiaToday.com