Image source: Google Street View

Malaysia Airports Holdings Berhad (MAHB) is working with its consultant to define the scope of work for the expansion of the Penang International Airport (PIA).

The scope of work will include elements and considerations for airports, such as 4.0 automation, optimisation of aircraft parking bays, carpark facilities and integration as a transportation hub.

“The airport currently has a capacity of 6.5 million passengers per annum (mppa) and the first phase of expansion will bring up the capacity to 12 mppa.

“The expansion for PIA will be guided by the Penang Airport Masterplan and Malaysia Airports’ ability to proceed with the development, which will depend on government approval of the new operating agreement.

“If the agreement is approved, it will allow Malaysia Airports to fund the development,” said MAHB in a statement to The Star.

Meanwhile, Penang infrastructure and transportation committee chairman Zairil Khir Johari said the completion of the airport’s carpark would be slightly delayed.

“The airport’s carpark was originally slated for completion in May but we are now expecting it to be completed this month.

“Currently, we are putting finishing touches to road and drainage work besides testing and commissioning them.

“The state government has no issues with the expansion project and we are waiting for a decision from Malaysia Airports to start it,” he added.

The PIA has the capacity to take in 25 million passengers a year in 30 years’ time, according to the Penang Airport Masterplan by MAHB.

MAHB chief executive officer Datuk Mohd Shukrie Mohd Salleh reportedly said the capacity would be analysed after the completion of the master plan next year.

“It is bigger than the earlier plan (12 million capacity) as according to a survey, we will reach this level by 2028 and will receive 16 million passengers in 2033.

“The expansion includes four phases and is expected to be completed in about 48 to 60 months,” said Mohd Shukrie during a briefing for the Penang government at Komtar.

The airport’s infrastructure expansion began in 1977. It was fully operational in 1979 with the capacity to accommodate 1.5 million passengers.

It was later expanded again and upgraded in 1998 to a 3.5 million passenger capacity and 6.5 million in 2013.

At present, the PIA expansion project is on hold, pending finalisation of the National Airport Strategic Plan (NASP).

The NASP study on airport development is expected to be completed in 2023 in line with the National Transport Policy.

Source: TheStar.com.my

The Seberang Perai City Council (MBSP) has urged the ratepayers to pay their second assessment tax this year and arrears in order to win five cash prizes.

Its mayor Datuk Rozali Mohamud said the owners of the premises could have the chance to grab the cash prizes at stake totalling RM19,888.

“They can pay through online platform, kiosks, or any collection agencies until Aug 31.

“We understand the plight facing the people during the current pandemic and we hope the Seberang Perai residents will take this opportunity to pay the tax to enjoy the promotion offered by us.

“After all, the collected payment from this tax will be used to maintain the basic amenities on the mainland.

“For instance, we need to to repair the streets’ lighting, carry out maintenance works and clean up the streets.

“Hence, we hope the ratepayers will carry out their responsibilities,” he said during a virtual briefing through MBSP Facebook page.

The top five cash prizes are RM8,888, RM5,000, RM3,000, RM2,000 and RM1,000.

The lucky draw winners will be announced in September.

Source: Buletin Mutiara

The Covid-19 vaccination centre (PPV) for the Construction Industry Vaccination Programme (CIVac) in the northern region will be in Penang, state exco Zairil Khir Johari said today.

He said registration for CIVac in the northern region is now open for all workers in the construction sector but it will be on a first-come-first-served basis.

The transport and infrastructure committee chairman urged employers in the sector to register their workers as soon as possible.

“The first phase of the CIVac will only vaccinate 25,000 workers but there are 47,950 workers registered with the Construction Industry Development Board in Penang, 40,347 workers in Perak, 29,062 in Kedah and 5,690 in Perlis,” he said in a joint statement with Penang Master Builders president Datuk Lim Chee Tong.

Zairil said clearly the demand for Covid-19 vaccines far surpasses the allocated vaccines for the first phase.

“The state government, along with the Penang Master Builders, wish to call on the federal government, especially the Covid-19 Immunisation Task Force to prioritise this sector in the other phases,” he said.

He added that he hopes the CIVac initiative will help to push Penang along towards achieving its aim of transitioning to Phase Three of the National Recovery Plan by August.

He said Covid-19 clusters are often found among the construction sector and this is mostly due to the working and living conditions of the workers in the sector.

Zairil said the construction sector is an important economic driver which involves a large ecosystem that covers labourers, suppliers and services such as architecture, engineering, lawyers and many more.

“Therefore, the state welcomes the move by CIDB Malaysia and the Ministry of Works to implement CIVac to speed up vaccination among construction workers,” he said.

Registration for CIVac can be done at https://vaccine.cidblink.com/ from today onwards. For enquiries, call 03-40428880 or email to vaksinpenang@cidbh.com.my.

Source: MalayMail.com

We can finally start applying for the six-month loan relief programme from banks which allows them to start making full payments again only in 2022.

But what do you need to know before deciding whether to take up the option?

If you are struggling with finances right now or expect to have difficulties paying your bank loans over the coming months this year, this six-month loan relief announced last month (June 28) under the Pemulih economic package may provide some temporary and near-instant financial relief.

But is this plan suitable for everyone?

Based on the FAQs and information published by several banks, here’s a quick summary of the main points you should know (on housing loans):

1. How does the loan payment assistance work?

Generally, you are given two options: a) A six-month moratorium on your loan, which means you will not pay for the installment of your house for six months and only resume the installment until after the six-month period ends; or b) A 50% reduction in monthly loan installments for six months.

Image source: CompareHero

2. Who can ask for the 6-month moratorium or 6-month half payment?

Individuals, SMEs and microenterprises can apply from July 7 through their respective banks to “opt-in” for either six-month moratorium or halved monthly installments. Your application will be automatically approved, without you needing to provide any supporting documents.

This is open to all individuals from all income brackets — B40 low-income category, M40 mid-income category or T20 high-income category.

3. Who is not eligible for the 6-month moratorium or 6-month half payment?

This repayment assistance is not open to borrowers who have been overdue in their payments for more than 90 days (which would mean owing payments for more than three months), or those undergoing bankruptcy or winding-up proceedings.

Loans approved after the six-month loan relief is announced will not be eligible for repayment assistance. You may want to check with your bank for additional details on the cutoff date.

4. The cost (or after-effect) of the loan moratorium

Before applying for the 6-month loan moratorium or 6-month halved monthly installments, you should bear in mind that interest will continue to be charged and accumulated, and your loan tenure or repayment period may get extended. However, there will be no compounding interest (interest on interest) during the six months.

Below is an illustration by Maybank on how the loan you took will become more costly as a whole,

In this example, the borrower has a remaining balance of RM137,499 to repay over the next 30 years.

Instead of paying interest of RM77,927 over 30 years with full monthly installment payments of RM598 in this example, a borrower will have eventually paid RM83,931 in interest (or about RM6,000 more) if no payment was made for six months using the moratorium option and if payments of RM598 were resumed from the seventh month onwards, with the loan to be fully-cleared 31.3 years later instead of 30 years.

If the borrower only paid half of the monthly instalments for six months before resuming full RM598 instalment payments, the additional interest of about RM2,970 accumulated will result in an eventual interest cost of RM80,897 paid over 30.7 years.

5. So should you ask for the loan moratorium or halved payments for six months?

If you are facing financial difficulties and need temporary relief until your financial situation improves, you can opt-in, after having read and understood all the necessary information such as the FAQ and terms and conditions. If you are unsure and need guidance or want to explore alternatives, you can consult AKPK which gives free advice.

Borrowers who can afford to continue their loan repayments should do so, as this would be in their best interest as resuming repayments would reduce the overall cost of borrowings.

Conclusion

If you are not sure where to start, visit Bank Negara Malaysia’s website where it lists the links to individual banks’ websites for details on repayment assistance plans. Or contact AKPK for free advice.

A newly proposed serviced residential development by Summit Methods Sdn. Bhd. in heart of George Town. Strategically located on a 0.82-acre land along Jalan Anson, adjacent to Penang Government Building that houses several government agencies which includes National Registration Department. Surrounding amenities and businesses within walking distance include Auto Bavaria, Sunway Property Sales Gallery, TNB office tower, KDU, Penang Plaza and a few eateries. The land is currently serving as a paid car park.

This development will see the refurbishment of the existing heritage building, and the construction of a 33-storey serviced residence building. It will offer 198 residential units with 8 levels of car parking podium. A wellness and healthcare centre will be located at levels 9 to 12.

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

Project Name : (to be confirmed)
Location : George Town
Property Type : Serviced residence
Tenure : (to be confirmed)
Land Area: 0.82 acre
Built-up Area: (to be confirmed)
Total Units : 198
Indicative Price: (to be confirmed)
Developer : Summit Methods Sdn. Bhd.

Source: OSC Portal

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.