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UPCOMING: Sungai Bakap / Dutamas Warisan Sdn. Bhd.

Sungai Bakap/ 1 August 2021 No comments

proposed-by-dutamas-warisan.

Yet another proposed light industrial development at Valdor in Sungai Bakap. Undertaken by Dutamas Warisan Sdn. Bhd., the development will be located on a 22-acre land off Jalan Nafiri, adjacent to Nafiri @ Valdor light industrial scheme by GUH Realty Sdn. Bhd. It is only 5km to Batu Kawan Industrial Park, about 10 minutes drive to Penang Second Bridge.

This development will feature 53 units of single-storey light industrial factories with 2-storey of office space.

The project is still pending approval. More details are to be available upon official launch.

Project Name : (to be confirmed)
Location : Sungai Bakap
Property Type : Light industrial factory
Total Units: 53
Land Tenure: Freehold
Target Completion: (to be confirmed)
Indicative Price: (to be confirmed)
Developer : Dutamas Warisan Sdn. Bhd.

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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.

South Korea’s Simmtech to invest RM507.6mil in factory at Batu Kawan

simtech-batu-kawan

South Korean semiconductor giant, Simmtech Holdings Inc., has chosen Penang as the strategic location to build its ‘first in the region’ printed circuit board (PCB) and packaging substrate factory.

Simmtech’s Phase One investment in Penang, through its subsidiary Sustio Sdn Bhd, is US$120 million (RM508 million).

Simmtech Southeast Asia managing director Jeffery Chun said the construction of the factory on an 18-acre site in Batu Kawan, Penang, was currently ongoing.

“We have spent many years looking for the right location to expand our business. We are now operating in our home country Korea, as well as in China and Japan.

“Our future factory in Penang will enable us to bring our products closer to our customers in this region.

“The construction works are scheduled to complete by early next year. We hope to begin operating and making shipments from our new factory by the first half of next year,” he said in his speech during the investment announcement held virtually today.

Chun said Penang has a very well-established electronics industry ecosystem.

“We are able to access the resources and local businesses here. The state is full of great talents, and it has a strong customer base. Penang also has a dynamic and growing semiconductor industry.

“That was why we chose to invest in Penang,” he said.

Chun added the company recognised the current challenging pandemic period.

“We are in close communication with the local and Federal authorities, following the standard operating procedures (SOPs).

“However, we do not see major delays in our construction project,” he said.

He revealed that the Covid-19 pandemic brought more opportunities to the semiconductor market.

“There are increasing demands for data storages with the increase in online data transactions during this trying period.

“There are more demands for computer chips and mobile chips. This is a great period for the semiconductor industry as a whole,” he said.

On Simmtech’s investment in Batu Kawan, Chief Minister Chow Kon Yeow said the new facility could create 1,200 high-value jobs in engineering, manufacturing, and quality management.

“I am hopeful that with Simmtech’s arrival, this is the beginning of a new chapter with Korea – one of the prominent countries in the global technology sphere.

“The Penang government has placed emphasis on attracting companies with strong commitments in developing cutting-edge technologies and sustainable investing. Those commitments are part of our efforts to cement Penang’s position as a hub for advanced manufacturing.

Chow said that Penang continues to be the country’s leading Electrical and Electronics (E&E) hub and a key pillar of Malaysia’s external trade.

“In 2020, Penang recorded a commendable RM310 billion of exports and RM110 billion of trade surplus; contributed 32% and 60% of the country’s said total, respectively.

“Notably, Penang’s E&E exports were valued at RM231 billion in 2020, which formed more than half of the country’s total,” he said.

Source: Buletin Mutiara

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More homeowners selling property for cash flow

Property News/ 30 July 2021 1 comment

market recovery

Malaysia’s property supply growth in the market spiked by 34.53 per cent year-on-year (YoY) and 11.94 per cent quarter-on-quarter (QoQ) in the second quarter of 2021 (Q2 2021), driven by more homeowners selling property for cash flow, according to PropertyGuru’s latest Malaysia Property Market Index (MPMI).

In a statement, PropertyGuru Malaysia said the surge in property supply in the country in Q2 2021 is likely driven by an increase in the number of houses being put up for sale in the secondary market under the current economic climate.

The upward trend in property supply is observed across four key regions, namely Kuala Lumpur, Selangor, Penang and Johor, which saw a YoY increase of 16.91 per cent, 48.95 per cent, 40.32 per cent and 17.47 per cent, respectively.

In three of the four key markets covered by the MPMI, positive growth was observed for asking prices in Q2 2021, indicating some form of price stabilisation for Kuala Lumpur, Selangor and Penang.

Asking prices moved upwards by 1.56 per cent QoQ in Kuala Lumpur, 1.18 per cent QoQ in Selangor and 0.95 per cent QoQ in Penang, while Johor was the only state that registered negative growth, dipping slightly by 0.15 per cent QoQ in Q2 2021.

It said the prolonged COVID-19 situation has significantly impacted the property market, as reflected in the asking prices of primary and secondary property markets tracked by the MPMI.

The PropertyGuru Malaysia Property Asking Price Index has been on a declining trend since Q2 2020 with a YoY drop of 2.16 per cent.

Country manager Sheldon Fernandez said due to the COVID-19 pandemic, those, who are cash-strapped, might still resort to selling their properties even though a six-month moratorium on bank loan repayments was introduced.

“We may see more residential supply making its way into the secondary market, resulting from those who wish to cash out on their property investments to alleviate current financial burdens,” he said.

He said property supply volume from the primary market may also be affected in the coming quarter due to the recent implementation of a total lockdown nationwide in June 2021, which has disrupted the construction and property development sectors.

Fernandez believes that the property sector outlook will remain gloomy for the rest of the year unless any significant signs of recovery to the property sector can only be expected once the nation is better positioned to achieve herd immunity with the ramp-up of COVID-19 vaccination.

Source: Bernama

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UPCOMING: Kubang Semang / Primutiara Development Sdn. Bhd.

Kubang Semang/ 29 July 2021 No comments

proposed-development-by-primutiara-development

A newly proposed mixed development by Primutiara Development Sdn. Bhd. (a subsidiary of Oriental Max Group) at Ara Kuda. Located on 19.5 acres of land along Jalan Ara Kuda, immediately opposite Desa Ara Permai housing scheme by the same company. It is less than 2km away from Penang-Kedah border, about 13km to Kulim Hi-tech Park, and less than 25 minutes drive to Penang bridge.

This development will feature a mix of 2-storey shop offices and terrace houses with part of the land reserved for future development:

  • 2-storey terrace (Type A – 17 units)
  • 2-storey terrace (Type B – 114 units)
  • 2-storey shop office (18 units)

The project is still pending approval. More details are to be available upon official launch.

Project Name : (to be confirmed)
Location : Ara Kuda, Kubang Semang
Property Type : Terrace house and shop offices
Total Units: 131 (terrace), 18 (shop office)
Land Tenure: Freehold
Target Completion: (to be confirmed)
Indicative Price: (to be confirmed)
Developer : Primutiara Development Sdn. Bhd. (Oriental Max Group)

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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.

Peacock Eco Park is expected to be ready in Penang by December

Property News/ 28 July 2021 No comments

peacock-park-construction

The construction works of the first-ever aviary or a mini zoo in Penang that specialises in raising peacock is expected to be completed in December this year.

Known as Peacock Echo Park, it is located at Taman Kimsar in Prai.

Seberang Perai City Council (MBSP) councillor David Marshel said once completed, the aviary would be home to plenty of peacocks from various species.

“The RM300,000 project is a joint collaboration between Prai constituency service centre, MBSP and Mr D. Parantpaman as the owner of the peacocks.

“He will contribute some of his peacocks to be put in the aviary. He will also be responsible for managing the place and its facilities once the project is completed soon.

“We choose Mr Parantpaman to manage the place because of his vast knowledge and experience as peacock consultant.

“There will be a memorandum of understanding (MoU) signing ceremony soon to legalise the matter between the three parties.

“The construction works of the Peacock Echo Park started four months ago and as of now, the project is 50 percent complete. And since we can operate at full force now, we are confident of doing our best to ensure that the project is completed within the stipulated time.

“Hopefully, when the aviary is fully operational soon, we can transform Prai as a tourist attraction on the mainland,” Marshel told Buletin Mutiara during his visit to the place recently.

According to Parantpaman who was also present during the visit, admission would be free of charge once it is open to the public.

“We will also open a souvenir shop and a small cafe inside the aviary to cover back the expenses.

“I also want to include a pond in front of the aviary, where giant Victoria lilies will be grown.

“Hopefully, when it’s open soon, the public will know more about peacocks and appreciate it.

Parantpaman said when the construction works are completed, he would put 50 peacocks from nine species at the aviary.

“Among the species are Indian metallic greenish-blue neck peacocks, the albino version of Indian peacocks and Javanese mix peacocks from Belgium, Pied and Black Shoulder peacocks from Spain.

“And what I like about peacocks the most is they are clean and quiet birds unlike chicken. Plus, they are beautiful too,” he added.

Parantpaman added that at the moment, he has a total of 200 peacocks from nine species including a variety of hybrid peacocks that are put in the small animal farm in front of his house at Taman Kimsar.

“I started with 10 peacocks about 10 years ago and the number has multiplied since then.

“The discussion to have the first-ever Peacock Echo Park started in 2018.

“And I am glad that it has materialised now. Once the aviary is ready, it will be a perfect opportunity for me to educate and introduce these unique and beautiful bird species to everyone,” he added.

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Source: Buletin Mutiara