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E&O, Kerjaya may consider merging in 5 to 10 years

Property News/ 12 May 2021 1 comment

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There are no immediate plans to merge construction services company Kerjaya Prospek Group Bhd and premier developer Eastern & Oriental Berhad (E&O), said the majority shareholder of both companies Datuk Tee Eng Ho.

Speaking at a press conference on the change in the board of E&O, Tee however, did not rule out a potential merger in the longer term.

“E&O will still be a pure developer but possibly in five to 10 years it (can happen), nobody knows,” Tee said.

Through Tee’s ownership of Amazing Parade Sdn Bhd, he now has an effective majority stake of 55.2% in E&O where he is its new chairman while he is also the single largest shareholder in Kerjaya Prospek.

E&O’s original founder Datuk Seri Tham Ka Hon and Kok Tuck Cheong will continue as executive deputy chairman and managing director of E&O respectively, the company said in its announcement.

Source: TheStar.com.my

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SITE PROGRESS: Granito @ Permai (May 2021)

Property News/ 11 May 2021 1 comment

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About Granito @ Permai

An affordable housing development by BSG Property in Tanjung Bungah, Penang. It is strategically located next to TAR College, adjacent to 2 Permai luxury residential scheme. This development featuring a 50-storey building with two residential towers and 12 levels of car park. There are 980 units of affordable homes with a standard built-up area of 864 sq.ft.

Find out more about Granito @ Permai

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42 road blocks throughout Penang during MCO 3.0

Property News/ 10 May 2021 No comments
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Road blocks reported in Waze as of 4pm today (10 May)

Penang police will mount 42 road blocks throughout the Movement Control Order (MCO) 3.0 period in several districts and sub-districts, beginning today until May 23.

Prior to this, only 15 road blocks were mounted at the state’s borders.

State police chief Datuk Sahabudin Abd Manan said the additional road blocks involved areas under the MCO to deter people from attempting to travel interstate and interdistrict as the country battles the Covid-19 pandemic.

“Yesterday, the government announced the implementation of the MCO in the northeast district on the island and Seberang Prai Tengah and Seberang Prai Selatan districts on the mainland. Three subdistricts were also placed under the MCO namely Mukim 12 in the southwest of the island, Butterworth in Seberang Prai Utara and Mukim 14 in Seberang Prai Utara.

“Following that, police will increase the road blocks from 15 to 42. Mobile road blocks will also be mounted at 10 ‘laluan tikus’ (rat lanes) which we have identified,” he said today.

Sahabudin said 3,500 out of 6,022 police officers and personnel would be involved in Covid-19 related duties.

He also said police would be more thorough when approving interstate and interdistrict travel applications to ensure those with inaccurate information would not be approved.

“There will be no more warning after this. Anyone found to have abused the travel permit will immediately be slapped with compound,” he added.

Sahabudin also said police would enhance checks at all locations and premises listed in the Hotspot Identification for Dynamic Engagement (HIDE) system.

Among the locations and premises under HIDE Include the Quensbay Mall, Gurney Pragon Mall, Lotus’s Penang, Aeon Quensbay and Toshiba Tec Malaysia Manufacturing Sdn Bhd.

Source: NST Online

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Slimhaus Technology to build 3-storey terrace houses from RM250,000 in Penang Island

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Would you believe that a three-storey house with a build-up area of 800sq ft or 1,500sq ft can be built within four weeks and come with a selling price of RM250,000 and RM395,000 respectively in Penang Island?

Well, that is what a housing developer, Slimhaus Technology Sdn Bhd, plans to do at the end of this year or beginning of next year.

Chief Minister Chow Kon Yeow, who attended the preview launch of the proposed affordable housing project, congratulated Slimhaus for going to use the industrialised building system (IBS) technology to build a total of 199 terrace units on a 7.2-acre land at Jalan Pantai Acheh in Balik Pulau.

“We had built affordable landed houses before but for affordable landed and IBS type, this is probably the first project in Penang. By using the IBS system puts Slimhaus Technology Sdn Bhd amongst other developers who have chosen to use this technology.

“This (technology) is not new. But to be able to build and complete a three-storey house within four weeks using prefabricated components is something we have not yet seen here. So, congratulations for achieving this milestone and revolutionising the construction industry.

He added that prefabricated concrete homes had been built in Rifle Range and Noordin Street Ghaut.

State Local Government, Housing, Town and Country Planning Committee chairman Jagdeep Singh Deo, who was also present, said he was delighted that Slimhaus was going to participate in building more affordable homes in the state.

“The provision of affordable housing is one of the priorities in the Penang2030 vision outlined by the chief minister some three years ago.

“The state has increased its target of building 180,000 affordable homes to 220,000 units by 2030.

“Until today, we have reached 117,000 units. Out of this figure, 40,000 units had already been built, 19,000 are being built and 58,000 have been approved to be built.

“I’ve been advising housing developers to build more affordable homes for Penangites.

“It’s not easy but from the overhang of 3,000 units in Penang, only 60 units were from the low-cost category.”

Slimhaus Technology chief executive officer Gerald Chin said his company has come a long way to realising his dream of building decent and affordable homes.

He said Slimhaus has plans to build 40 units (1,500sq ft) and 100 units (800sq ft) for the first phase and the remainder 55 units for the second phase. The three-storey terrace houses, he said, would be gated and freehold.

He expects the ground-breaking ceremony to be held at the end of this year or beginning of next year and the whole project would take eight months to complete.

So far, Chin said they have received 70% registration for the project which would be built first before the houses are sold. He said only those earning less than RM10,000 per month (or combined earnings) could only qualify for the affordable homes.

He said Slimhaus is the first company in Malaysia to use prefabricated steel frame for the project.

Also present at the preview launch ceremony were state Entrepreneurial Development, Trade and Industry Committee chairman Datuk Abdul Halim Hussain, who is also the Batu Maung assemblyman, Bayan Baru MP Sim Tze Tzin, and Slimhaus Technology directors Cheng Kwong Whee and Kua Soo Leong.

Source: Buletin Mutiara

MCO in six Penang areas (10 – 23 May)

Property News/ 8 May 2021 1 comment

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Senior Minister (Security Cluster) Datuk Seri Ismail Sabri Yaakob today announced that the government will be enforcing the movement control order (MCO) on three district and subdistricts in Penang.

Ismail said in Penang the areas affected are the districts of Timur Laut, Seberang Perai Tengah and Seberang Perai Selatan as well as the sub-districts of Mukim 12 in Barat Daya and Bandar Butterworth and Mukim 14 in Seberang Perai Utara.

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