PKT Logistics Group, a socially responsible company providing logistics services today celebrated its structural “topping-up” ceremony for its upcoming The Ship Campus.

The Ship Campus will be one of the nation’s few college campus located in an industrial park.

The top-up ceremony was graced by the presence of Chief Minister of Penang YAB Chow Kon Yeow who signed the final piece of glass panel which was later hoisted onto the roof of The Ship Campus.

“The Penang State Government is extremely pleased that PKT Logistics Group through their education arm, Peninsula College will be adding value in knowledge and talent development through their soon to be completed campus,” said Chief Minister of Penang YAB Chow Kon Yeow.

“Graduates today must be industry-ready-and-driven and be equipped with the skills to manoeuvre through the corporate world.

“It is, therefore, timely for the rise of international and world-class institutions of learning here in Penang as we aim to develop the future generations to stay abreast with the industrial revolution, he added.

Meanwhile, Dato’ Michael Tio, Group Chief Executive and Managing Director, PKT Logistics Group Sdn Bhd said The Ship Campus aims to bridge the gap between academia and industry.

“The Ship Campus will be the few education campus located in an industrial park.

“This was a deliberate decision as we felt the need for the academia to be close to the industry in order to produce graduates equipped with the skills and capabilities required in today’s demanding job market,” he said.

Construction of The Ship Campus started in 2017 and is expected to be completed by 2020.

Once completed, The Ship Campus will be home to PKT Logistics Group education arm Peninsula College which will be able to accommodate over 4,000 students.

The Ship Campus is expected to offer tertiary education course in logistics and supply chain management, maritime management, computer science, hospitality, accountancy and business studies.

The Ship Campus would also see the collaboration between Peninsula College and University of Plymouth, UK as its education partner.

Aside from bringing high quality UK education to Penang, The Ship Campus will also serve the start-up and SME community of Batu Kawan through its Entrepreneurs Growth Hub.

The Entrepreneur Growth Hub is a start-up incubator that aims foster the growth of SMEs in Penang.

Beyond a physical co-working space, those who register with this hub are able to enjoy the facilities at The Ship Campus which ranges from a gymnasium facing the Straits of Malacca, a state of the art library, and lifestyle amenities such as open air cafes and retail outlets.

The Ship Campus will also feature The Opera Theatre. It is a large auditorium with a 470 seating capacity and can be used to host seminars, business conferences and also concerts.

“We welcome industry players and the business community of Batu Kawan to join our Entrepreneurs Growth Hub and be part of a growing community of like-minded entrepreneurs,” added Dato Michael Tio.

Decent affordable housing is fundamental to the health and well-being of people, and to the smooth functioning of economies. Yet around the world, in developing and advanced economies alike, cities are struggling to meet that need.

In line with the country’s commitment to provide adequate and affordable housing for all income levels, particularly for the lower-income group, Bank Negara Malaysia (BNM) Governor Datuk Nor Shamsiah Mohd Yunus stressed that affordable housing is a shared responsibility and that the government is looking at how infrastructure providers could play their part in reducing the cost of houses.

“There are three components which make up the biggest proportion of the cost, namely land, construction and infrastructure,” she said in an exclusive interview with Bernama recently.

“There is a greater recognition now on the need to reduce costs. For land costs, the government is collaborating with the state government on mechanisms to reduce costs; and for construction costs — that is where the government is looking to leverage technology such as the IBS (Industrialised Building System) to bring down the cost,” she pointed out.

Explaining further, the governor said “more importantly is to adopt strategies to raise income levels of households to make housing more affordable to the rakyat.”

Over the period 2007-2016, growth in house prices have outpaced household income.

Based on the median multiple approach, a house is deemed to be unaffordable if it is priced more than three times the annual household income. Malaysia’s is at 4.8 times.

“Let’s take the B40 for example. With their median monthly income of RM3,000, they can only afford houses up to around RM108,000 — three times their annual income.

“If you look at the 68 per cent of total unsold residential units, they are above RM300,000. That is why we also have to address the supply-demand mismatch.

“While there is demand for affordable housing, the developers are building outside the affordable reach of the majority of Malaysians,” said Nor Shamsiah.

Recently, the central bank expanded the eligibility criteria for those seeking to purchase property under the BNM’s RM1 billion Fund for Affordable Homes.

Effective September 1, 2019, individuals planning to apply for financing to purchase affordable houses would be eligible to do so if they have a maximum monthly household income of RM4,360, up 86 per cent from the earlier threshold income level of RM2,300 per month.

Plus, the maximum property price will be increased to RM300,000 from RM150,000. These new terms would help buyers from this income group to obtain financing to purchase their first house.

Meanwhile, the governor reiterated the importance of the Guidelines on Responsible Financing.

“The Guidelines on Responsible Financing is still relevant because the main objective of these guidelines is to ensure that borrowers are able to afford the loan and can benefit from it.

“So, if a customer is taking the loan to buy a house, the customer should eventually own the house at the end of their loan tenure. Ultimately, the banks and the borrowers should also be responsible in the decision. It works both ways,” she added.

The central bank’s responsible financing guidelines are in place to protect the interest of borrowers by ensuring that those who borrow are within their capacity to honour the financial obligation until the end of the loan tenure and eventually own the property.

This is as opposed to merely buying the house upfront and then fall behind their obligations and end up losing the property.

On that note, the governor said a lot is being done to educate consumers on areas relating to credit and financial management, especially through the Credit Counselling and Debt Management Agency, or commonly known as Agensi Kaunseling & Pengurusan Kredit (AKPK), which has gained greater traction.

AKPK is an agency established by BNM to help individuals take control of their finances through prudent financial management and financial education.

Financial literacy is among the factors that can contribute to sustainable and inclusive economic growth. It is the first line of defence for consumers to protect their rights when dealing with unfair market practices.

At the same time, to alleviate the public’s burden in coping with the rising cost of living, particularly for the M40 and B40 groups, the governor said BNM has been emphasising the importance of improving technical skills, reforming the labour market and education system.

“There needs to be greater collaboration between training providers and the industry players to ensure Malaysia produces graduates with the right skills,” said Nor Shamsiah.

During the interview, the governor also explained at length several other key issues pertaining to the country’s economic growth, the banking industry, the vital need to increase consumer awareness, as well as the importance of education, reskilling and upskilling in order to stay relevant in a challenging and constantly changing economy.

Source: Bernama

The first phase of Penang’s RM6.34bil tunnel and roads projects is set to kickstart construction by end-October 2019, amid criticism on the project’s cost and the delay in completing the feasibility study.

Consortium Zenith Construction Sdn Bhd, which is the main contractor for the multi-billion-ringgit project, has clarified that a master agreement was signed on Aug 2 that indicated the Penang state government’s commitment to proceed with the construction of the infrastructure works.

The RM6.34bil project – owned by the Penang state government – will consist of three toll-free roads and a tolled tunnel. The first phase of the project is the 5.7-km Ayer Itam-Lebuhraya Tun Dr Lim Chong Eu bypass. The cost of the first out of three roads, where construction would start in October, is estimated at RM1.07bil.

Consortium Zenith chairman Tan Sri Azmi Khalid told StarBiz that a land acquisition agreement would be signed on Aug 31 between the company and the Penang state government.

“The first phase, or what we call Package 2, is targeted to commence on or before Oct 31 this year. The construction period is 36 months from commencement.

“The construction cost of the Ayer Itam-Lebuhraya Tun Dr Lim Chong Eu bypass will be RM851.04mil and the land acquisition will cost another RM220mil. So, that makes RM1.07bil in total.

“One year after the first phase has started, we will begin with the next phase, ” he said.

Azmi said there has been a misunderstanding on the progress of the feasibility study.

“The feasibility study for the three major roads was completed on Jan 26,2016 and the approval for the Detailed Environmental Impact Assessment was received on Nov 7,2017.

“As far as the three roads are concerned, the approvals are all settled. This is why we have received a payment of RM208mil from the total of RM305mil in the form of 5.67 acres of reclaimed land.

“What is still pending is the feasibility study for the undersea tunnel, which is only about 10% left. A major reason for the delay is because we were asked by the Penang state government to put the feasibility study on hold for more than a year, as they were negotiating with the-then Barisan Nasional federal government on whether to build a bridge instead of an undersea tunnel, ” he said.

Azmi also pointed out that another reason for the delay in completing the feasibility study was the slower pace in finishing the land reclamation, which will be used to pay Consortium Zenith.

“Going by the agreement, Consortium Zenith will receive 110 acres of reclaimed land progressively and a toll concession for the tunnel as payment for our role in the entire project. This includes payment for the feasibility study.

“Earlier, there was a delay in land reclamation and the land was not ready to pay us for the work, ” stated Azmi.

For context, the Penang state government will pay for the RM6.34bil project via a land swap of 110 acres of reclaimed land in Tanjung Pinang, and a toll concession for the tunnel of not less than 30 years.

The exchanged land has been valued at RM1,300 per square foot based on net developed area.

Of the total RM6.34bil price tag, a total of RM305mil is estimated for the feasibility study and detailed design, RM546mil for land acquisition and RM5.49bil for construction.

For the development of the first phase of the project, Consortium Zenith will receive 29.1 acres of land.

Source: TheStar.com.my

Ayer Itam – LCE Expressway bypass

Newly proposed landed residential development by Seni Bahagia Sdn. Bhd. within the established township of Batu Ferringhi. It is located along Persiaran Sungai Emas 1, only 10 minutes walk to Ferringhi Beach. Neighbouring upscale housing schemes include Ferringhi Park, Pearl Residences, Ferringhi Residence 1 & 2, The Marin and a few others.

This development will feature a mix of 3-storey terrace and semi-detached, bungalow houses, to be constructed in two phases.

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

Project Name : (To be confirmed)
Location : Batu Ferringhi
Property Type : Landed residential
Built-up Area : (to be confirmed)
Total Units : 29 (terrace), 2 (semi-detached), 1 (bungalow)
Land Tenure: Freehold
Developer : Seni Bahagia Sdn. Bhd.
Last Update:: Feb 2021

Location Map:

Iconic Point Preview Roadshow happening soon this coming Merdeka! Drop by to get first-hand information on the latest commercial hub Iconic Point & Soft Launch Event.

Line up of exciting activities for you and family such as Iconic Photogenic Contest and clown appearance!

See you soon! For more info please call 04-643 1888/ 012-739 7888/ 012-739 7999.

VINTAGE ROADSHOW

 

29 August – 2 September 2019
(Thursday – Monday)

10:30am – 10:30pm

Queensbay Mall (In front of Bonia)

Activities: Iconic Photogenic Contest, Balloon, Clown Appearance