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Transport Minister Anthony Loke today gave a commitment that the systems upgrade for the Penang ferry service, will begin next year.

The upgrading project to be undertaken by Prasarana Malaysia Bhd (Prasarana), the owner and operator of transportation services in the country, will include the introduction of catamarans apart from establishing a tourist ferry service by using existing ferries.

“I very much understand that existing ferries have sentimental value to Penangites, so our plan is to transform these ferries into tourist ferries such as those in Bangkok,” he said, adding that about two to three of the existing ferries would continue to be used to transport vehicles.

Speaking to reporters after the launching ceremony for Prasarana’s Mutiara Pass, Loke said the ministry had allocated RM90 million for the upgrading project but the disbursement of the funds was postponed until the legalities concerning the previous and existing ferry operators were settled.

In the meantime, Loke said Prasarana would source for funding internally to cover the cost of the upgrade and the purchase of the catamarans, as the ministry had given Prasarana its approval to go ahead with the project.

Loke had earlier launched the Mutiara Pass which provides for unlimited journeys on the Rapid Penang bus service and the Penang ferry over a 30-day period.

He said based on the successful reception of the My100 and My50 unlimited passes among commuters in the Klang Valley, the federal government had made arrangements to launch a second phase by introducing the passes to Penang.

The Mutiara Pass system will become effective on Sept 1, while the sale of the passes began on Aug 20.

The minister added that the pass system will be expanded to other states in the future, owing to the fact that transportation in the country was heading towards a cashless system.

Rapid Penang which receives a total of 16 million passengers on a yearly basis and an average of about 75,000 passengers every day based on statistics until July this year, operates with 404 buses plying a total of 71 routes.

Rapid Ferry in turn, which operates through six ferries stationed at two jetties, receives a total of 865,559 passengers and 762,498 vehicles every year, and until July this year, recorded a daily average of 3,696 passengers and 3,112 vehicles.

Source: Bernama

S P Setia, the leading property developer in Malaysia, will once again be making a record-breaking success in the established neighbourhood of Kepala Batas with their mega international township development, Setia Fontaines. Located at Bertam, Setia Fontaines encompasses an impressive prime land of 1,675 acres, with an exclusive 16 residential development phases where a total of 12,000 units residential homes will be built, including terrace, semi detached, linked semi detached and bungalow houses.

Setia Fontaines, the first ever township in Malaysia to feature a 63 acres man-made lake with 100m width musical fountain, capable of reaching a heights of 60m up-to-the-air along with 37-acres central park that offers its residents ample amount of green area, is assured to be the next eye-catcher development in Malaysia.

Setia International WaterFront Centre, the heart of Setia Fontaines, will features various upcoming commercial developments such as hotels, medical centre, shopping malls, office towers, conventions centres and more.  An al-fresco dining experience, overlooking the vast lake and the musical fountain, will also be featured.

Amansara South, the first phase residential development in Setia Fontaines, consists of 394 units of both single and double storey terrace homes. Exclusively crafted for those looking to own their first dream landed home, with a subtle touch of Nusantara elements.

Amansara South is set to be one of the most affordably priced landed home in Seberang Perai with spacious land area of 22ft x 70ft, and a minimum built-up area of 1,336 sq.ft. for the single storey terrace ; and 1,835 sq.ft. for the double storey terrace. The single and double storey home are competitively priced from RM320,000 and RM420,000 respectively.

Additional features that can be found in Amansara South includes-

1. 50 ft width access road ( standard housing development only has 40 ft width)
2. Underground cable facility for TNB & PBA
3. Fibre to home (unifi ready)
4. A total of 3.7 acres of green area, with 10 features and lifestyle facilities
5. Internal Courtyard (AS Joy) for better lighting and ventilation

Your dream to own a landed home of your choice is about to come true!!

The soft launching of Amansara South will be held on 24^th August 2019 at Setia Fontaines Welcome Centre in Bertam, from 11am to 5 pm.

• Sales Package include:-
  • 1 % low booking fees to own a landed home of your choice*
  • Enjoy BIG savings*
  • RM 10,000 move-in bonus*

*  Terms & Conditions apply

• Activities on that day include:-
  • Setia Lucky Spin & Lucky Draw, attractive prices awaits, including Starbucks Merchandises, Shopping Vouchers and the much awaited Grand Lucky Draw of RM 3k, 2k & 1k.
  • Sumptuous and mouth-watering foods and beverages
  • Exciting stage performances, kids activities and more

Setia Fontaines Welcome Centre
No. 65 & 67, Persiaran Seksyen 4/7,
Bandar Putera Bertam,
13200 Kepala Batas, Pulau Pinang.

Tel  : +604 576 2255
Fax : +604 575 0055

Bank Negara Malaysia’s easing of eligibility requirements for its RM1 billion Fund for Affordable Homes should lead to at least a 20% increase in home loan approvals for first-time homebuyers, said Finance Minister Lim Guan Eng.

He added that it will help first-time homebuyers see a 20% reduction in their monthly housing loan repayments amid an extended repayment duration to 40 years from the previous 30 years under the fund.

“We hope it will be easier for homebuyers to obtain a loan. If monthly repayment is reduced by 20%, more people will be able to purchase a home and I expect this will lead to a similar 20% increase in homeownership,” said Lim at a joint press conference with Housing and Local Government Minister Zuraida Kamaruddin after the Budget 2020 focus group meeting here today.

“But it also depends on the individual or household financial position,” he added.

The central bank said yesterday that it is increasing the maximum monthly household income requirement to RM4,360, while the maximum property price has been increased to RM300,000.

The increment is from the previously stipulated maximum monthly household income of RM2,300, while the maximum property price was RM150,000.

Successful applicants will also enjoy a concessionary interest rate of 3.5% per annum with a repayment duration of 40 years, along with full stamp duty exemption on sales and purchase agreement; and on the financing agreement.

The new eligibility criteria will take effect from Sept 1, 2019.

What is Affordable Homes Fund?

A housing fund by BNM to facilitate homeownership in Malaysia. The scheme is introduced to assist first-time house buyers and youths to purchase a home.

Eligibility (Sept 1, 2019)

• Individuals aged 18 years and above.
• Malaysian citizens only.
• First time home buyers only.
• Household gross income not exceeding RM4,360
• Property price of up to RM300,000

You may contact the participating financial institutions for further information:

• AmBank (M) Berhad (AmBank) 03-2178 8888
• Bank Simpanan Nasional (BSN) 1-300 88 1900
• CIMB Bank Berhad (CIMB) 03-6204 7788
• Malayan Banking Berhad (Maybank) 1-300 88 6688
• RHB Bank Berhad (RHB) 03-9206 8118 (West Malaysia); 082-276118 (East Malaysia)

Or contact BNMTELELINK at 1-300-88-5465 (LINK).

Source: EdgeProp.my

The Penang branch of the Malaysian Institute of Estate Agents (MIEA) has asked that the government extend the incentives under its Home Ownership Campaign (HOC) to encompass the secondary market.

MIEA Penang chairman Christina Choong said house buyers were given stamp duty exemption under the HOC but this only applied for the primary market.

“We hope the same incentive, stamp duty exemption, be extended to the secondary market which are existing properties being sold by owners instead of by developers,” she said in a joint press conference with state exco Jagdeep Singh Deo to announce its secondary property exhibition next month.

The secondary market refers to previously owned properties while the primary market refers to new properties by developers.

She said the stamp duty exemption under the HOC was mainly for the primary market and the exemption only applied for properties priced below RM300,000 in the secondary market.

She said some first-time homebuyers prefer to buy from the secondary market due to location and the immediate availability of property.

“They will have to fork out a higher deposit amount so we hope that there are incentives to help the secondary market too,” she said.

Choong said it is hard to determine the number of secondary units left unsold in the market.

“According to data from the Valuation and Property Services Department, there are about 3,000 overhang units priced above RM400,000 in the secondary market in Penang,” she said.

She also hoped the state would consider extending its approval fee exemption for foreign property buyers to the secondary market.

Jagdeep, who is housing development committee chairman, said he will bring up MIEA’s request for the approval fee exemption to be extended to second-hand properties.

In efforts to spur its property market, Penang had moved to exempt an approval fee of three per cent for foreign buyers who purchase properties in the state.

The exemption, initially until June, was extended until the end of the year and only applied for the primary market.

Choong also called on the government to tighten enforcement against unlicensed and unregistered real estate agents.

“The number of illegal agents is alarming so something must be done to stop them,” she said.

She also warned the public that these unregistered brokers do not have a governing body so there was no avenue for recource if the deal went wrong.

She added that homebuyers and sellers may lose their properties and money due to fraudulent transactions by these unregistered brokers who may not be easy to track down.

The Malaysian Secondary Property Exhibition (Maspex) Penang will be held from September 19 to 22 at Queensbay Mall.

Choong said thousands of second-hand properties including residential, commercial and retail will be for sale during the event.

Source: MalayMail.com

A proposed commercial development by Fenley Development Sdn. Bhd. at Butterworth. Strategically located off the ever-bustling Jalan Raja Uda, right next to the exit from Butterworth Outer Ring Road (BORR). It will only take 5 minutes drive to Penang Sentral, less than 15 minutes to Penang Bridge.

This development will see the demolition of existing factory building for the construction of a commercial tower, featuring 70 units serviced suites and 4 units of shop offices at ground level. Residents facilities will be located at the rooftop.

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

Project Name : (To be confirmed)
Location : Raja Uda, Butterworth
Property Type : Commercial
Built-up Area : (To be confirmed)
Total Units : 70 (suites), 4 (shop offices)
Developer : Fenley Development Sdn. Bhd.

Location Map: