Canada-based Eclipse Automation Inc is setting up its first Asian manufacturing facility in Batu Kawan, Penang, which is anticipated to create approximately 150 new jobs by 2025.

In a statement on Thursday, the Malaysian Investment Development Authority (Mida) said about 80% of the employees will be from technical and engineering backgrounds.

“The facility is set to serve its major customers across Asia Pacific and other regions and factory construction is expected to commence within the first quarter of 2022 with commercial operations targeted to begin in 2023.”

Mida chief executive officer Datuk Arham Abdul Rahman said the project was timely and significant, as it could contribute to the Malaysian economy in terms of high-income employment amid the Covid-19 pandemic.

“This project further strengthens Malaysia’s position as a strategic destination for global machinery and equipment players. It will also create a multiplier effect within the domestic economy in terms of local supply chain usage and technology transfer,” he added.

Eclipse Automation is a leading supplier of custom automated manufacturing equipment for the life sciences, energy, transportation, consumer electronics and industrial industries.

It has 20 facilities strategically located in the vicinity of Fortune 500 companies and manufacturing centres across Canada, the United States and Central Europe.

The Batu Kawan plant, meanwhile, will span three acres of prime industrial land and have a production area of 55,000 sq ft.

There will also be an office area totalling 27,000 sq ft that will be designed to fully support the compliance needs of the customers within the life sciences sector, as well as serve the high-tech automotive, alternative energy and consumer industries.

The site will also act as a cost-effective and desirable strategic location for continued global growth, in collaboration with Eclipse Automation’s current technology and manufacturing hubs in Canada, the US, Germany, Hungary and Switzerland.

Eclipse Automation chief executive officer Steve Mai said the Malaysian facility will allow the group to extend its reach and bring customers’ expert regional support, service and fulfilment within Asia.

“The site in Penang will provide exceptional, value-added manufacturing options to best support global programmes, including replication line and outsourcing model platforms.

“Our Malaysian facility will also employ a large team of highly-qualified engineers, assemblers and other support teams to enhance our ability to provide solutions with a powerful follow-the-sun (FTS) model of service.”

FTS is a global workflow system where tasks are distributed between work sites within different time zones.

With the Malaysian government’s business-friendly policies, Arham said investors such as Eclipse Automation could leverage on the country’s strategic location, vast network of infrastructure, strong support industries as well as talented workforce to become prominent players within the global value chain.

Source: TheStar.com.my

This is yet another affordable housing development proposed within the established township of Sungai Ara. Undertaken by OIB Properties Sdn. Bhd., the project will be located off Changkat Sungai Ara 1. It is just a stone’s throw away from TreeO affordable condominium by Hunza Group, less than 5 minutes drive to SJKC Chong Cheng.

This development will see the construction of a 52-storey building featuring two residential towers with 12 levels of car parking podium. It will offer a total of 973 affordable units and facilities will be located above the podium.

The project is still in the planning stage. More details to be available upon official launch.

READ MORE ABOUT AFFORDABLE HOUSING:

• Full list of affordable housing in Penang
• Eligibility and the requirement of buying affordable housing

Project Name : (to be confirmed)
Location : Sungai Ara
Property Type : Affordable housing
Tenure: Freehold
Built-up Size: (to be confirmed)
Total Units : 973
Indicative Price : RM300,000 onwards (estimated affordable housing price)
Developer :OIB Properties 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.

Bank Negara will need to review its financing model to make home ownership much easier for the B40 (Bottom 40 income) and M40 (Middle 40 income) groups in line with the “One Family One Home” target, said Prime Minister Datuk Seri Ismail Sabri Yaakob.

He said this was among decisions taken at a National Affordable Housing Council meeting, which he chaired yesterday, to discuss the direction taken and the coordination and monitoring of affordable housing plans nationwide under the campaign.

“This is to ensure financial institutions allow easier financing for the B40 and M40 groups to own units in People’s Housing Projects (PPR) and other affordable homes. The focus will be on direct purchase and rent-to-own (options),” Ismail Sabri said in a statement yesterday.

He added that the council agreed to set a new direction for PPR housing by taking into account current needs as well as the inclusion of new components to realise the “Liveable Malaysia” agenda.

He said new PPR projects will look into elements such as connectivity and internet access, including “fibre to the home”, public transport network and designs that are more economical and comfortable.

Ismail Sabri said the meeting also discussed strategies for the implementation of 500,000 affordable housing units nationwide under the 12th Malaysia Plan, involving the federal and state governments as well as private housing developers.

“The government is committed to ensuring the provision of adequate and quality affordable housing to meet the needs of a growing population.

“As such, the Housing and Local Government Ministry has introduced the Home Ownership Programme to ensure a more comprehensive ecosystem for housing development and financing as well as initiatives that can help Keluarga Malaysia own homes.”

Ismail Sabri said the government was committed to having more affordable housing units for the younger generation and developing affordable housing projects in the suburbs and smaller towns to allow more from the M40 group to own homes.

“The concerns raised at the meeting were rising cost of construction materials such as iron and steel as well as cartels controlling the construction industry.”

He said Housing and Local Government Ministry and the Real Estate and Housing Developers’ Association Malaysia have been directed to look into these concerns, Bernama reported.

Source: TheSunDaily.my

Eco Horizon, Penang’s largest gated & guarded community, comprises three residential collections named Ashton, Beldon and Camdon and one commercial-use shoplot named Borealis. The residential collections evoke a classic English elegance with luxurious living spaces characterised by British Colonial architectural design and open concept.

Whether you’re a first-time homebuyer or looking for a bigger space for your growing family, Eco Horizon has the right home that suits all needs. Visit Eco Horizon’s Show Village today and see for yourself how living in a lush, elegant sanctuary is a dream come true when you own an Eco Horizon home.

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Purchasing a property based on the buyer’s personal needs and financial ability and not from other people’s opinions is the fundamental rule in investing in property, the Malaysia Institute of Estate Agents (MIEA) said.

President Chan Ai Cheng said potential purchasers, therefore, should rent instead of buy a property if they are not sure of their job and financial stability.

“They must understand that property is a medium- to long-term investment and not one based on speculations. Purchasing or renting are both great options.

“Renting gives you flexibility and purchasing builds equity and hedges against inflation,” she said in a statement on Tuesday (Feb 8).

She said based on 20-year data collated by the National Property Information Centre/Finance Ministry’s Valuation and Property Services Department (NAPIC JPPH), the house price index has showed rising values over the years.

“Property prices have adjusted due to the pandemic and barring any unforeseen circumstances, we don’t envisage the prices going down further,” she said.

She said the building materials cost index (BCI) has gone up by 0.3% to 3.1%, pushing up the cost of construction and coupled with the shortage of labour, would pressure the increase of prices.

“Our members are already experiencing this in the landed residential homes sector. It is a known fact that property prices go up and fluctuate over periods of time and it is now at one of its lowest points.

“It’s our view that it’s an opportune moment to purchase if you have the need and ability to do so. The longer you wait, the higher the price will be — then it will be out of reach for many,” she said.

She said besides that, as the Malaysian economy is expected to strengthen, it would give confidence to potential buyers to purchase property.

“We foresee that many new purchasers will enter the market as they have waited for two years now (since pandemic hit the country), many have saved money for this purpose and most importantly, they have a need for a roof over their heads,” she said.

Chan also urged purchasers to reach out to MIEA members who are registered estate agents, probationary estate agents and real estate negotiators to acquire information on their property of interest to determine the right price to enter the market.

Source: TheEdgeMarkets.com