More than 500 fishermen today rallied against the proposal to reclaim land off the Permatang Damar Laut coast for the RM27 billion Penang Transport Master Plan (PTMP) project.

Spokesman Nazri Ahmad, 50, said reclamation will affect the livelihoods of fishermen from Sungai Pinang to Pulau Betong, the southwest coast of Penang island.

He said marine ecosystems will be affected thereby jeopardising their catch and their incomes.

“Reclamation will have massive repercussions on us and on the environment,” he said prior to leading the rally at the Sungai Batu Beach in Teluk Kumbar near here where 14 fishermen associations took part.

Rally organisers also managed to obtain more than 1,000 signatures from fishermen to oppose the reclamation where a 930ha plot and a 445ha are proposed to be reclaimed.

Nazri said the signatures will be sent in a protest memorandum to the state government and to the Department of Environment (DOE).

He rubbished suggestions fishermen were anti-development, noting development was not meaningful if their livelihoods were threatened.

“What is the use of development if we cannot maintain our traditions and daily lives,” he said adding the well-being of fishermen must be thought off.

Seri Jerjak Fishermen Association member Ooi Ah Lee, 67, urged the state to reconsider as reclamation will result in a the narrowing of the Penang straits.

“There will less sea for us to go out to catch fish,” he said while Rodzi Ahmad, 55, called upon the state government not to proceed.

Musa Shariff, 57, meanwhile said he did not want to be relocated from his home in Teluk Kumbar if such an alternative was offered.

“I want to remain where I am for the rest of my life to fish where I am at,” he added while Abdul Rasyid Yop, 63, stressed they were not against development but wanted their livelihoods should not be affected.

Source: TheSunDaily.my

In about 3 weeks’ time, we will be celebrating the New Year.

Each New Year comes with new resolutions and new goals. Some would plan to own big ticket items such as a house or a car as part of their resolution. If your plan is to own a new car, finish reading this article before nailing down that resolution.

Owning a car in Malaysia is expensive. In one of my previous articles, I highlighted that Malaysia was ranked second in the world where owning a car is expensive.

But what many do not know is by how much, relative to homes. Yes, homes in Malaysia are expensive too, but relative to Australian homes and cars, our cars are 10 times more expensive than those sold in Australia compared to homes. Let’s do some simple math together.

Khazanah Research Institute (KRI) reported that the median house price in Malaysia is about RM250,000. This is the cost of two Honda Civics (priced at RM110,000 per car).

In Australia, the median house price is A$660,000, while a Honda Civic costs about A$30,000. This means, a median-priced Australian house of A$660,000 can buy 22 Honda Civics, versus a median-priced Malaysian house of RM250,000 which can only buy two cars of the same model. Yes, our homes may not be cheap but our cars are more expensive in comparison.

I further compared Malaysia against the United States and United Kingdom. A median-priced house in US and UK can buy 12 and 16 Honda Civics respectively, which is still more affordable compared to the two which can be bought with a median-priced Malaysian house.

The story does not end here. In addition to the cost of purchasing a car, there are many other financial commitments that comes along with owning a car. These include petrol, parking, toll charges, maintenance, and repair costs. Then, there is the cost of depreciation which ranges from 10% to 20% per year. It does not help that most of these supplementary expenses are frequently being increased. Our cars are indeed costing us a lot.

It is undeniable that a car is a necessity to those who have limited access to public transportation. Until our public transportation system is good enough, people will still need private vehicles to move from one place to another.

Unfortunately our cars are so expensive that the rakyat, especially the younger generation, are forced to put off buying a home until they can afford it. In the meantime, that “wait” causes house prices to appreciate, thus making it even more unaffordable for these people to own a home. This vicious cycle will continue until the government has a permanent solution to address both public transportation and affordable housing.

Perhaps, it is also timely to revisit the rationale behind our National Car Project which was introduced in 1982 to bring a higher level of industrialisation in Malaysia. Since its inception, the price of national and non-national cars have progressively increased through increase in car taxes and excise duties.

The price of non-national cars in Malaysia generally cost 50% to 100% more than the price of the similar make of car in other countries. On the other hand, one of my managers came back from his Aussie trip and shared that a Proton Preve in Australia is RM11,000 cheaper than one that is acquired in Malaysia.

Originally, the National Car Project was a form of protectionism for the national car industry. After more than 30 years since its inception, it has now become a burden to the rakyat, by eating more and more into our disposable income. The National Car Project has served its original purpose, and it is time that we review it.

So now, instead of jotting down my resolution, my wish list for 2016 is for the Government to rationalise and reduce the taxes imposed on cars. This will put more money back into the rakyat’s pockets to start their home ownership journey much earlier. Concurrently, the Government can continue to channel and reinvest some of these funds to build a comprehensive and effective public transportation system in Malaysia which will greatly reduce the rakyat’s dependency on private vehicles.

And for those who still wish to buy a car, think twice as owning a car is too expensive and unaffordable – it may also cost you your home.

Datuk Alan Tong has over 50 years of experience in property development. He was the world president of FIABCI International for 2005/2006 and awarded the Property Man of the Year 2010 at FIABCI Malaysia Property Award. He is also the group chairman of Bukit Kiara Properties. For feedback, please email feedback@fiabci-asiapacific.com.

Source: TheStar.com.my

Sunway Property Penang will be organizing a Garden Fest on December 12, 2015, from 5pm to 9pm at its Sunway Wellesley Show Village in Bukit Mertajam.

The Garden Fest aims to offer a nature-rich, fun-filled, experience for families in Bukit Mertajam to enjoy the evening together as part of the “Living Sunway, Living Community” series of events. The festival will include a wide variety of exciting performances, such as live bands, magic shows, and jugglers. The Garden Fest follows the success of the “Christmas in Wonderland by the Lake” community carnival recently held in Sunway South Quay in Klang Valley which drew close to 2,000 visitors.

In addition to the performances, families will be able to participate in exciting games, give-aways, and a share and win contest while enjoying the refreshments which will be served.

Sunway Property’s partner, Astro, promises to delight everyone, especially children with appearances by “movie superstars” – the friendly Autobot warrior Bumblebee and Marvel’s invincible Ironman.

Sunway Wellesley is one of Sunway Property Penang’s most popular developments spanning over 82 acres of freehold land. With a gross development value (GDV) of RM 800 million, the strategically located development combines urban conveniences with lush green spaces, and features luxurious homes supported by a robust commercial component. The development is located 0.5 km to Bukit Mertajam Town Centre, 6 km to Butterworth-Kulim Expressway, 7km to North-South Highway, and 9km to the Penang Bridge.

Currently, Sunway Wellesley’s second phase is under development. The entire phase consists of 60 units of three-storey semi-detached homes and 154 units of three-storey townhouses, set in a gated and guarded community with lush thematic gardens.

Sunway Wellesley’s townhouse and semi-detached show homes will also available for public viewing. The townhouses are the first of its kind to be introduced in Penang and provides a great option to multigenerational living. The semi-detached homes are spaciously designed with generous ceilings, and family friendly layout and are located in a gateless compound that fosters community interaction.

“Sunway Property has been building communities in Penang for the past 23 years. With the Garden Fest, we would like to welcome our community to celebrate the year-end with us and enjoy a nature-rich evening out at Sunway Wellesley,” said Tan Wee Bee, Deputy Managing Director of Sunway Berhad, Property Development Division for Malaysia and Singapore.

Sunway Property Penang welcomes all to join in the fun time with families and friends. For more information about Garden Fest or to view the show units, please contact May at 012-476 5496 or Koay at 012-433 3636.

For more information on Sunway Property, please log on to www.sunwayproperty.com.

Some 1,000 acres of the land on the two islands that will be reclaimed to the south of Penang island as part of the state government’s land swap deal with SRS Consortium for the Penang Transport Master Plan (PTMP) have been earmarked for industrial development.

Recall that on Nov 27, SRS Consortium project manager Szeto Wai Loong said the two islands, measuring 1,300 acres and 2,100 acres, would be reclaimed at a cost of RM7 billion to RM8 billion respectively. An 800-acre island next to these islands had also been identified for further reclamation in future, pending the state’s needs.

Yesterday, Ideal Property Development Sdn Bhd (IPD) director Datuk Alex Ooi told reporters that the 1,000 acres earmarked for industrial development would feature sites for the electronic and electrical sector, as well as light industries.

“There is no other industrial cluster which is as big as this in Southeast Asia, so we want to provide that space,” he said.

He added that the RM27 billion PTMP is viewed as an economic transformation project for the state, with a five-time multiplier effect in terms of economic benefit from the project — which is easily RM135 billion — and as such, is Penang’s growth catalyst.

Ooi said the remaining acreage would be allocated for green area (1,000 acres), a dam, airport expansion, administrative buildings, sewage plant, offices and residential units.

IPD, a subsidiary of Ideal Property Group Sdn Bhd, is one of three players — including Penang-based Loh Phoy Yen Holdings Sdn Bhd — in the SRS Consortium, the appointed PTMP project delivery partner that is led by Gamuda Bhd.

Ooi said the consortium has spent more than RM10 million on preliminary studies for the land reclamation.

The reclamation, identified as a land swap model to finance the PTMP, is expected to take off in 2018 once federal and state approvals for the project component are attained.

It was previously reported that the cost of the detailed environmental impact assessments for the road, rail-based public transportation and the reclamation would amount to about RM300 million to RM400 million, and would be borne by the state.

A tender for the reclamation will be called once approvals from the authorities are completed and the detailed design for the rail-based segment is completed.

Meanwhile, Ooi said the Penang entities’ role in the project, including Loh Phoy Yen’s, is to provide local expertise for the project.

“Our job is to provide local expertise. We will liaise with the local authorities and carry out consultations with fishermen and other stakeholders. From feedback on the ground, about 90% of it was favourable,” he said.

Source: TheEdgeMarkets.com

Penang-based property player Ideal United Bintang Bhd (IUBB) plans to stick to affordable housing projects in the next two years, given the slowdown in the economy and property sector in the country.

IUBB’s executive chairman Datuk Alex Ooi Kee Liang said at present, the group will be concentrating on its maiden development, the I-Santorini located at Tanjung Pinang, Penang.

“The I-Santorini is an affordable housing development that consists of 2,155 residential units, as well as shop offices, with a price range of between RM300,000 to RM500,000 per unit. The total gross development value for the project is approximately RM900 million,” he told reporters, after the group’s extraordinary general meeting (EGM) today.

Property development is not unchartered waters for Ooi. His private vehicle Ideal Property Group is a renowned developer in Penang, with properties such as the Imperial Residences and the Solaria Residences in Bayan Lepas under its belt.

Ooi took over the reigns of heavy machinery importer and exporter United Bintang Bhd in October 2013, and subsequently in April 2014, the group announced that United Bintang was diversifying into the property development business. The group then changed its name to Ideal United Bintang in May 2014.

“At present, the undeveloped landbank for the Ideal Property Group in total is 250 acres, which we intend to develop over the course of the next 10 years. We will also look into developing more affordable housing projects and injecting these projects into IUBB,” he said.

He added that while I-Santorini would be the focus of IUBB at this juncture, the group is also looking at more affordable developments in the Bayan Lepas and Green Lane areas in Penang.

“We intend to allocate 75 acres or 30% of our 250 acre undeveloped landbank for affordable housing projects. This includes the allocation for the I-Santorini project,” said Ooi.

Besides its affordable housing development, the group will also be working on the renovation of 22 floors of the 26-floor Menara LA (previously known as Menara Liang Court) located on Jalan Sultan Ahmad Shah, Penang, and subsequently sell its floors by the first quarter of next year.

IUBB shareholders gave their approval for the group to acquire 10 floors of the building for RM15.04 million in November last year. At its EGM today, the group’s shareholders approved the acquisition of another 12 floors for RM19.5 million. The remaining floors of the building not owned or being acquired by IUBB are owned and occupied by AmMetLife Insurance Bhd.

“One of the interested buyers is a local, while the other is from Singapore. IUBB’s intention is to renovate the floors that we own and sell it. Two floors will be reserved for commercial use. The rest, we intend to convert into a hotel, somewhat like a three-four star express hotel concept, depending on the buyer’s specification.

“As for the selling price, that would again depend on the specification from the buyer [on the magnitude of renovations required],” he said.

IUBB shares closed unchanged at 92 sen today, for a market capitalisation of RM64.94 million.

Source: TheEdgeMarkets.com