Penang has made the installation of fibre optic cable mandatory for all new housing schemes and buildings in a move to accelerate the development of its telecommunications infrastructure.

State Transport and Infrastructure Committee chairman Zairil Khir Johari said Penang has enforced fibre optic installation as a basic utility on par with water and electricity supply.

“Penang is the first state in Malaysia to do so. We are now in the process of replacing outdated copper cables and are expecting to complete this process by the end of next year.

“Fibre is to pave the way for faster internet. So, fibre is our focus. We want to fiberised as soon as possible,” Zairil told Buletin Mutiara in an interview recently.

Zairil said it is compulsory for developers of new housing development or buildings to instal fibre optic when seeking planning permission from the local council just like the need to provide water and electricity supply, without which the developers could not obtain the Certificate of Completion and Compliance (CCC) for their finished project.

He said the fibre optic installation, however, is not compulsory if you build a single house.

For old housing schemes, Zairil said the state has allowed telecommunication companies to lay fibre optic cables in existing ‘longkang’ (drains) to minimise cost.

The fiberasation process is part of the Penang Connectivity Master Plan (PCMP) which the state government has introduced in 2019 to develop its telecommunications infrastructure as well as to realise its aim of a gigabit city.

According to Zairil, the decision by the Penang government to make fibre optic installation mandatory has received recognition and praise from the Malaysian Communications and Multimedia Commission (MCMC) Minister Datuk Saifuddin Abdullah through a media statement late last year.

“This Covid-19 situation has shown us how important it is to have a stable and fast internet as people have to work from home and students have to embark on online learning during the lockdown. Now, we begin to appreciate and value the importance of a good telecommunications infrastructure,” said Zairil.

He said the PCMP is in line with the Penang2030 vision of ‘A Family-Focused Green and Smart State that Inspires the Nation’ that Chief Minister Chow Kon Yeow had launched in August 2018.

He added that on May 11, 2019, Chow had met the chiefs of seven major telcos and the MCMC in their first meeting to discuss the state’s desire to enhance its telecommunications infrastructure.

A special task force was formed with Chow as the chairman to coordinate, plan and implement all matters related to telecommunications in the state with the tagline, ‘Facilitated by the State, Guided by MCMC and Delivered by Telcos’.

“To date, the implementation of the PCMP is 48 percent complete, while another 20 percent are in progress and the remaining 32 percent will be implemented according to the set time period.

“As of the first quarter of 2021, Penang has achieved 99.68 percent of 4G LTE (Long Term Evolution) network in populated areas compared to the national rate of 93.77 percent.

“The target is to have only 4G by the end of next year, and get ready for 5G. 5G requires fibre; no fibre, no 5G. So, whatever it is, what we prepare for 5G today will help us to be 5G ready,” Zairil explained.

Source: Buletin Mutiara

EcoWorld announced its financial results for 2Q 2021 yesterday. EcoWorld hits 88% sales target for FY2021 in 7months. Declares 2sen interim dividend. Strong 2Q2021 results with steady sales momentum across all projects.

Amidst a challenging backdrop, EcoWorld is encouraged by the strong results achieved with continued steady sales momentum contributed by Klang Valley, Iskandar Malaysia and Penang projects.

EcoWorld will continue broadening their digitalisation efforts to enhance Team EcoWorld’s agility and competitiveness to emerge stronger post-pandemic. They are also positive of a robust recovery in consumer and business confidence when the current lockdown is lifted and travelling restrictions eased. Visit www.ecoworld.my/investor-relations to know more.

M VISTA VIRTUAL TOUR
[View in FULL SCREEN]

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!

Save your traveling effort by visiting M Vista Virtual Tour where it brings you the perfect view of the show units at the comfort of your current vicinity.

With a daily installment from RM68, grab your dream home now! Limited units left.

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