The Penang Island City Council (MBPP) is planning to build an underpass at the Jalan Mount Erskine and Jalan Burma intersection next year to tackle traffic woes.

MBPP secretary Datuk Addnan Mohd Razali said the traffic flow at the Jalan Burma/Jalan Gottlieb/Jalan Bagan Jermal/Jalan Mount Erskine is now “messy during peak hours” as there are approximately 50,000 vehicles using these roads daily.

“The project for the underpass and road widening is estimated to cost RM30 million while the cost of land acquisition is estimated at RM25 million,” Addnan told a press conference today.

Also present were MBPP senior engineers Cheah Chin Kooi and Zainuddin Mohamad Shariff, MBPP engineer Yong Woo Soon and HST Engineers managing director Teh Hong Sen.

The land acquisition from Jalan Mount Erskine to Jalan Burma (till Adventist Hospital) covers a distance of 700m involving 20 lots of land (4,430sq m) – two from MBPP, two from the Federal Government and 16 from private owners.

Addnan said the process of land acquisition is being carried out by the northeast district Land Office, which is also engaged in an ongoing hearing for affected residents.

“We hope to begin work on the project next year or 2021, barring any legal matters,” said Addnan, adding that the road widening process at Jalan Brown, which is part and parcel of the project, had already been completed.

Source: Buletin Mutiara

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The Stardom, an upcoming serviced residence at Teluk Kumbar.  Located on a 1.8-acres land along Jalan Permatang Damar Laut, about 5 minutes drive from Penang International Airport. This development is just a stone’s throw away from Valencia Residence by Aman Setia Group and One Foresta affordable housing by Ideal Property Group.

This project comprises two 29-storey residential towers, featuring a total of 400 dual-key units with standard built-up size of 521 sq.ft. Indicative price starts from RM368,800 onwards for a fully furnished unit with 1 free carpark.

More details to be available upon officla launch.

Project Name : The Stardom
Location : Teluk Kumbar
Property Type : Serviced residence
Tenure: Freehold
Built-up Size: 521 sqft.
Total Units : 400
Indicative Price : RM368,800 onwards
Developer : (to be confirmed)

Location Map:

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JMR Conglomeration Bhd is focused on turning the group’s property development segment into the group’s core business.

Presently, the group’s asphaltic concrete plants in Juru and Langkawi generate 70% of JMR’s revenue, while the property division contributes the remainder.

Group managing director Dennis Chung Vui Ming told StarBiz after an AGM that the group planned to monetise the 90-acre land bank it owned in Seberang Prai.

“We are talking now to a few partners to build jointly 90 units of terraced and semi-detached houses in our SA65 scheme in Simpang Ampat, which will have an RM55mil GDV.

“Once the property glut in Penang has eased, we will plan the Marvel City in Juru, a mixed-development project with over RM1bil of GDV. We expect the oversupply of properties situation to continue in Penang for the next two to three years.

“JMR will conduct feasibility and viability studies for Marvel City and continue to explore suitable and profitable business opportunities locally and abroad, ” Chung said.

In Simpang Ampat, the group still has 33 acres of land bank left.

“We used to have 65 acres, of which 50% has been developed. We will continue to develop the rest of SA65 at Simpang Ampat through strategic partnerships.

“We are pleased to have a local private school set up its campus at our SA65 commercial shop lots since January 2019.

“There will be a multipurpose sports complex for the campus in time for 2021.

“Moving forward, we would like to transform our SA65 commercial area into a regional education hub by collaborating with strategic partners in the education industry, ” he added. According to Chung, the collaboration with strategic business partners at SA65 is expected to contribute positively to the Group’s revenue over the next three years.

Because the group is changing its business direction, Chung said its shareholders had approved the change of the company’s name to Jade Marvel Group Bhd.

It is now waiting for the green-light from the Securities Commission to put the change of name into effect.

“The JMR name reflects our road-building business, which we had stopped doing for a few years already. The name Jade Marvel Group creates awareness for the Project Marvel City and reflects more aptly the direction of our property road map, ” Chung said.

In the 2020 financial year ending March 31, 2020, the asphaltic concrete plants in Penang and Kedah will ensure continuity in supply, enhanced its production processes, response time and wastage reduction.

“In response to the challenging market conditions, the group would focus improvements on product quality and customer evaluation, ensuring our customers receive the best products and services at the best price, ” Chung said.

Source: TheStar.com.my