M VISTA VIRTUAL TOUR
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M Vista @ Southbay is a low-density development in Penang Island, featuring only 237 units of comfort homes with spectacular views.  Strategically located within 5 minutes drive from Penang’s Second Bridge, about 10-minute drive from Queensbay Mall and Penang International Airport.

Do not despair if you are not able to travel to the M Vista show units during lockdown!

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Call Mah Sing at 04-2913128 for more details or you may register your interest via the form below.

Lenders cashed in on pandemic relief measures as strong purchases of residential properties and passenger cars helped expand household loans faster in the first quarter, according to data from the World Bank.

“Outstanding household loan growth increased to 6 percent in Q1 2021 (Q4 2021: 5.4 percent), mainly driven by loans for the purchase of residential properties and passenger cars,” the international institution said in the June edition of its Malaysia Economic Monitor.

“In part, this was driven by the tax exemption measures announced by the government in its economic stimulus packages,” the bank added.

However, growth in credit card loans declined, suggesting a drop in overall spending activity during the pandemic, the bank said.

The report was launched two days ago.

Malaysia’s domestic financial sector was well equipped to weather the second movement control order that lasted close to a month, with banks maintaining adequate capital and liquidity positions during the first quarter, the monitor said.

The banking sector’s overall return on equity stood at 8.5 percent against 9.2 percent in the fourth quarter of 2020, with return on assets estimated to stand at 1 percent, just a 0.1 percentage point lower than the previous October-December period.

“Liquid assets held by the banking system remained adequate to support financial activity, with a coverage ratio of 145 percent in Q1 2021 (Q4 2020: 148 percent), well above the minimum statutory requirement of 100 percent,” the report said.

“Furthermore, banks continued to maintain an adequate capital buffer, with the tier 1 capital ratio standing at 14.9 percent at the end of March 2021.”

Overall loan impairment ratio in March was stable at 1.6 percent in the same month despite higher impairments from households amid continued pressure on household income, the bank said.

Source: MalayMail.com

The Bukit Kukus paired road project has reached 95.91% for a section of the highway which is expected to be fully completed by the end of October this year.

Penang Transport and Infrastructure Committee chairman Zairil Khir Johari said the current full movement control order (FMCO) from June 1 to 28 has further delayed the project as construction work has to be halted temporarily.

“On top of that, the contractor cannot obtain the supply of building materials during this FMCO.

“If the FMCO is extended, it will definitely affect the project’s progress and completion,” Zairil told Buletin Mutiara via a WhatsApp reply yesterday.

For the record, the project was originally scheduled for completion in July 2020 but due to the Covid-19 pandemic and several other technical issues involved in additional work, the development of the project was extended to May 2021.

In the meantime, Zairil expressed hopes that the construction work of the project could resume soon so that it could be opened to the public at the end of October.

“When completed, it will be able to solve the problem of traffic congestion up to 30 percent,” explained Zairil, who together with fellow state executive councillor Yeoh Soon Hin, visited the site on April 28.

The 5.5km Bukit Kukus paired road project, costing RM545.6 million, consists of three sections connecting Paya Terubong and Relau.

The state government, through Penang Island City Council (MBPP), is responsible for the construction of 3.3km of the stretch that costs RM275.6 million.

Meanwhile, two developers, namely PLB Land Sdn Bhd and Geo Valley Sdn Bhd, are responsible for the remaining 1.4km (RM150mil) and 0.8km (RM120mil) stretches respectively.

It was reported that the two private companies might complete theirs in 2024.

Source: Buletin Mutiara

PropertyGuru Asia Property Awards, the region’s leading real estate awards programme, presents key dates and event formats for the 2021 Awards season.

In the past year, the programme has maintained the prestige of hosting successful awards celebrations albeit the global outbreak. By taking the pandemic situation and safety protocols into account, the organisers have set up a series of virtual, physical, and/or hybrid events specially curated for each country.

Now, as the vaccinations have begun to roll out and the number of infected patients has started to peter out across the region, the 2021 gala series moves forward with the formats adapted for each country.

PropertyGuru’s 2021 Awards season will commence with a virtual ceremony in Indonesia on 14 October, followed by Cambodia, Vietnam, Philippines, Singapore, Malaysia, Thailand, and Chinese territories (Mainland China, Hong Kong, Macau).

The highly awaited 16th PropertyGuru Asia Property Awards Grand Final Virtual Gala on 9 December will begin by presenting the final country awards to Sri Lanka, India, Greater Niseko, and Australia before crowning the best developers, developments, and designs in Asia Pacific.

Key dates and event details for the 8th PropertyGuru Asia Property Awards (Malaysia) :

• Nominations end: 27 August 2021
• Entries close: 27 August 2021
• Hybrid (virtual/physical) gala date: 25 November 2021
• Venue: The Majestic Hotel Kuala Lumpur
• Categories: asiapropertyawards.com/en/award/asia-property-awards-malaysia-2021/

Health and safety protocols mandated by each country will remain in place leading up to and on the day of the physical galas. Meanwhile, Jack Prinya and Kelly Jones-Purves will return as this year’s emcees for the virtual red carpet and gala presentations.

Jules Kay, Managing Director of the PropertyGuru Asia Property Awards, said: “The success of the PropertyGuru Asia Property Awards when we launched the region’s first online gala series last year, highlighted the resilience of the Asia Pacific real estate market, and the strength and determination of the companies and professionals behind the region’s many new developments.

This year, as we navigate the ongoing challenges brought about by the global pandemic, our regional gala events will continue to prioritise the health of judges, partners, guests, and production teams by integrating the same physical precautions and virtual benefits we applied in 2020 to keep everyone safe as we celebrate and share the property industry’s biggest success stories.”

Organised by Southeast Asia’s leading property technology company, PropertyGuru Group, the 16th PropertyGuru Asia Property Awards series is supported by platinum sponsor Kohler; gold sponsors Boysen, Hafele, JLL, Leading Real Estate Companies of the World®, and Mitsubishi; silver sponsors Dulux Professional and Jotun; official portal partners PropertyGuru.com.sg, PropertyGuru.com.my, DDproperty.com, Rumah.com, Batdongsan.com.vn; official cable TV partner History Channel; official magazine PropertyGuru Property Report; supporting association Green Building Consulting & Engineering; official charity partner Right To Play; official ESG partner Baan Dek Foundation; and official supervisor HLB. Penang Property Talk is one of the official media partners for this leading real estate awards series.

The 2021 PropertyGuru Asia Property Awards is currently open for nominations. Interested participants can register at awardentrysystem.com/register/. Companies looking to sponsor the events can get in touch at asiapropertyawards.com/sponsorship/.

For more information, email awards@propertyguru.com or visit the official website: AsiaPropertyAwards.com.

Those who miss the old Penang ferries that were retired earlier this year will get a chance to ride on them again this year – on pleasure cruises.

The Penang Port Commission, the federal government body that owns the ferries, said today several companies have been given a 10-year lease contract to manage the five vessels.

Of the five vessels, one will be a floating museum, two will be restaurants and the other two will be used for pleasure cruises.

PPC chairman Tan Teik Cheng said the companies were selected as part of a request for proposal exercise which began on Jan 29.

The companies were also given an option to extend their lease for another five years on top of their 10-year lease.

The ferries will be handed over to them from July 1.

“We would like to ensure that these five iconic Penang ferries continue to be seen in our waters and continue to be a tourism pull for Penang and stimulate the state’s economy,” he said when contacted.

Tan said there were originally six old ferries in the fleet, with one of them given up to the state government.

The old ferries were retired before the vehicular-cum-passenger ferry service was ended earlier this year to make way for fast boats.

Source: FreeMalaysiaToday.com