Bintai Kinden Corporation Bhd has proposed to diversify into the property development and management business to reduce its reliance on the mechanical and electrical engineering business. Under the proposal, the company will undertake two mixed property development and management projects, namely “Holistica Melaka” and “Holistica Penang” with healthcare facilities and wellness services in Melaka and Penang.

Holistica Penang, with an estimated GDV of RM83.7 million is a lifestyle condotel development project in the heart of George Town. It is strategically located on a 0.6-acre land along Burma Road, adjacent to The Penang Chinese Chin Woo Athletic Accociation.

The proposed project will feature a 21-storey building with 98 condotel (condominium operated with hotel services) units.

Project Name : Holistica Penang
Location : George Town
Property Type : Hotel residence
Total Units : 98
Developer : Bintai Kinden Corporation Bhd

Location Map:

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.

A law to stop landowners from evicting tenants or raising rentals indiscriminately will be tabled next year, says housing and local government minister Zuraida Kamaruddin.

She said the Residential Tenancy Act, which will also seek to protect the rights of landowners, is expected to be tabled in Parliament in the first quarter of 2022.

She said the Act, which was originally slated to be tabled this year, will take into account the interests of both landowners and tenants while ensuring that owners do not raise rental rates or evict tenants at their whims and fancies.

“The Residential Tenancy Act is now at the preparatory stage. This Act will offer protection to tenants,” she told FMT.

This follows an FMT report highlighting the plight of young workers living in “storeroom-like” conditions in the Klang Valley as a result of high rental rates.

Salkukhairi Abd Sukor, president of Persatuan Guaman Hartanah Malaysia, had urged Putrajaya to speed up the introduction of the Act to prevent landlords from imposing unreasonable rates.

In August last year, Zuraida’s deputy, Ismail Muttalib, said the government was expected to table the much-anticipated Act this year.

Source: FreeMalaysiaToday.com

Penang’s Butterworth port will be turned into a free trade zone (FTZ) from Feb 1, federal port regulators Penang Port Commission (PPC) announced today.

PPC chairman Tan Teik Cheng said finance minister Tengku Zafrul Aziz had consented to gazette the North Butterworth Container Terminal as a FTZ.

Tan said this would elevate Penang to the next level as more global players can head to Butterworth to reap the benefits of the FTZ.

“With the help and push of transport minister Wee Ka Siong and the finance minister, Penang’s glorious free trade era is set to come back,” he said.

Tan said the FTZ would have two sections, one being for trade and commercial purpose, while the other would be set aside for factories.

“Since the FTZ would have commercial facilities such as logistics service and warehousing, we expect more break bulking, grading, repackaging, relabelling, transit and re-exporting works to be carried out by players from around the world.”

Tan said the significance of having a free port was that more foreign investors would be able to tap into the duty-free market.

“Foreign companies can use the facilities at the FTZ and later re-export to another country. Since they are exempted from Customs and excise duties, sales tax or service tax, except for a few products and services, they can expect the exported items at a cheaper rate,” he said.

Tan said PPC would now focus on attracting more foreign investors to Penang. Penang was a free port until 1967 when the status was removed.

Source: FreeMalaysiaToday.com

Managers of condominium or apartment buildings have the power to require residents to undergo Covid-19 testing, senior minister for security Ismail Sabri Yaakob said yesterday.

In response to a question about such a requirement at several condominium buildings recently, he said: “Yes, this is to protect the health of the residents. The condominium or apartment management are allowed to make such a rule. So we do not stop them.”

He said that although the National Security Council had not laid down such a policy, “we do not prohibit condos or any residential areas from issuing such orders to protect their residents”.

Lembah Pantai MP Fahmi Fadzil later questioned whether joint management bodies at condominium and apartment buildings would be able to legally set such a requirement.

He said new house rules must be approved at an extraordinary general meeting of the joint management board, but current movement control order rules disallowed meetings to be held.

Fahmi also questioned whether low-income families could afford the cost of a private Covid-19 test in order to enter their homes.

Source: FreeMalaysiaToday.com

About Queens Residences

Luxury waterfront development by Ideal Property Group at Bayan Bay with gross development value (GDV) of RM600mil. This development is located in front of BayStar Condominium, just stone’s throw away from Queensbay Mall.

Find out more about Queens Residences