batu kawan


Rehda expects better HOC-Mapex 2019 in Penang

GEORGE TOWN: The Real Estate and Housing Developers Association (Rehda) – Penang branch anticipates the upcoming Home Ownership Campaign – Malaysia Property Expo (HOC-Mapex), to be held from April 12-14, will be more successful than the previous edition.

Its chairman, Datuk Toh Chin Leong (pix) said during the last Mapex Penang, which was held from Feb 7-10 this year, many were still unclear about the stamp duty exemption for residential properties sold between Jan 1 and June 30, 2019.

He said residential properties priced between RM300,001 and RM1 million (before discount) were eligible for stamp duty exemption, while those priced above RM1 million would be charged a stamp duty of 3%.

“However, with the stamp duty exemptions being clearly announced, we now have more developers coming in to take part in the upcoming HOC-Mapex Penang to showcase their properties and offer attractive incentives,” he told a press conference yesterday.

Aside from the stamp duty exemption for residential units, Toh said the incentives include a minimum of 10% discounts for all properties, extra rebates, renovation packages and special packages by individual property developers.

Meanwhile, Mapex organising chairman Ng Chin U said 20 property developers would be participating in the upcoming event, showcasing more than 3,000 units of properties worth over RM3 billion in total.

He said that properties such as double-storey bungalows, double-storey semi-detached houses, larger double-storey terraces and condominiums on the island and mainland would be featured during the event.

“On the island’s side, the properties to be showcased are located in Balik Pulau, Teluk Kumbar, Georgetown and Jelutong.

“On the mainland, we have interesting projects such as the SP Setia’s integrated township in Seberang Perai, and some projects in Bukit Tambun, Batu Kawan, Sungai Bakap and Nibong Tebal,” added Ng.

Paramount aims to maintain RM1b sales for 2019

PETALING JAYA: Paramount Corp Bhd, which achieved a record sales of RM1 billion last year, is targeting another RM1 billion sales this year.

Property division CEO Beh Chun Chong said the bulk of the sales this year would come from projects such as Atwater, Berkeley Uptown, Bukit Banyan, Lakeside, Greenwoods and Utropolis Batu Kawan.

This year, the group plans to launch properties with a total gross development value of RM1.3 billion.

Last year, it achieved record sales of RM1 billion, which was 23% higher than the RM816 million achieved in the previous year.

Unbilled sales stood at a record RM995 million as at Dec 31, 2018, 63% higher than RM610 million in the previous year.

Gamuda touts Penang South Reclamation as the next ‘Marina Bay’

GEORGE TOWN, Feb 26 — The developer for three proposed man-made islands to the south of Penang could make the northern Malaysian state into the next Marina Bay — the popular artificial island in Singapore. Gamuda Bhd Deputy Group Managing…

Ikea to open first outlet in northern peninsula on March 14

BUTTERWORTH, Feb 15 — Swedish furniture brand Ikea will open its first outlet in the northern region of Peninsular Malaysia in Batu Kawan, Penang, on March 14. Ikea Malaysia store manager Arumugam Pathmalingam said the new outlet, the brand’s…

Aspen-Ikea JV invests RM2.6b in world-class metropolis in Penang

BATU KAWAN, Feb 2 — Aspen Vision City Sdn Bhd, a joint-venture (JV) company between Aspen Group Holdings Ltd and IKEA Southeast Asia, has invested more than RM2.6 billion to date in its 99.15-hectare (ha) master-planned metropolis in mainland…

FedEx opens RM17.6m integrated facility in Penang

GEORGE TOWN, Jan 10 ― FedEx Express launched its RM17.6 million FedEx Penang Gateway facility in Batu Maung today. The new facility is an integrated warehouse and sorting facility for both FedEx and TNT operations in the region. It will serve as a…

Knight Frank: Mixed outlooks for Penang, JB and Kota Kinabalu

GEORGE TOWN, Jan 8 — The general outlook for the property sector in Penang was positive but less so in Johor Baru and Kota Kinabaly, according to Knight Frank Malaysia’s Real Estate Highlights for the Second Half of 2018. The residential sector…

Bursa Malaysia ends higher on 11th-hour window dressing

KUALA LUMPUR: Bursa Malaysia rebounded from earlier losses to finish the last full trading week of 2018 higher, lifted by the eleventh-hour window dressing activities amid thin holiday season trading.

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) wrapped up the day 1.35 points or 0.08% firmer at 1,692.07 from Thursday’s close of 1,690.72.

The barometer index moved between 1,684.47 and 1,694.08 throughout the day, after opening 2.81 points weaker at 1,687.91.

Inter-Pacific Research Sdn Bhd head of research Pong Teng Siew said in tandem with the global stock markets, Bursa Malaysia was traded in a lacklustre mode today as many investors were away from their desks for holidays.

“I suspected the institutional investors were just doing a lukewarm window dressing by not purchasing the big-capitalised stocks like what they did over the past week,“ he told Bernama.

Total volume was slightly lower today, with 1.41 billion shares worth RM1.10 billion being traded from 1.60 billion shares worth RM1.21 billion yesterday.

Market breadth was positive with 385 gainers outpacing 343 losers, while 395 counters were unchanged, 764 untraded and 54 others suspended.

Among heavyweights, Maybank rose three sen to RM9.43, Public Bank and CIMB were unchanged at RM24.88 and RM5.78, respectively, while Tenaga was two sen lower at RM13.56.

Of actives, Hubline and Velesto inched up half-a-sen each to 4.5 sen and 18 sen, respectively, VS Industry added 1.5 sen to 72 sen, Bumi Armada gained one sen to 16 sen, while Sapura Energy eased one sen to 28.5 sen and Yong Tai was two sen lower at 36 sen.

F&N emerged as the top gainer, bagging RM1.04 to RM33.36, followed by United Plantations which rose 54 sen to RM25.64, PPB and KLK, which improved 50 sen each to RM17.70 and RM24.64, respectively, while Batu Kawan was 28 sen firmer at RM16.68.

The FBM Emas Index perked 13.66 points to 11,537.30, the FBMT 100 Index increased 11.82 points to 11,454.58 and the FBM Emas Shariah Index advanced 24.13 points to 11,509.42.

The FBM Ace Index was 22.54 points higher at 4,260.20 and the FBM 70 accumulated 24.96 points to 13,091.52.

Sector-wise, the Industrial Products and Services Index edged up 0.38 of-a-point to 166.81, the Plantation Index advanced 68.71 points to 6,897.74 and the Finance Index slid 5.36 points to 17,341.69.

Main Market volume slipped to 1.04 billion shares worth RM1.02 billion from 1.11 billion shares worth RM1.10 billion on Thursday.

Warrants turnover dropped to 216.53 million units valued at RM53.04 billion versus 328.38 million units valued at RM75.07 million.

Volume on the ACE Market retreated to 125.23 million shares worth RM23.17 million from 161.66 million shares worth RM28.24 million yesterday.

Consumer products and services accounted for 179.55 million shares traded on the Main Market, industrial products and services (183.12 million), construction (62.99 million), technology (101.50 million), SPAC (5.67 million), financial services (21.32 million), property (100.33 million), plantations (20.47 million), REITs (19.31 million), closed/fund (nil), energy (199.36 million), healthcare (19.32 million), telecommunications and media (23.83 million), transportation and logistics (102.10 million), and utilities (9.41 million). — Bernama

Micron’s new facility to offer 1,000 high-value jobs

GEORGE TOWN: Micron Technology Inc’s new centre of excellence for solid state drive (SSD) assembly and test in Batu Kawan is expected to create 1,000 high-value jobs in the electrical and electronics (E&E) sector once it is completed in 2021. Penang Chief Minister Chow Kon Yeow said Micron would invest RM1.5 billion in Penang within […]

Penang scores RM1.5b Micron investment

GEORGE TOWN, Nov 30 — US multinational Micron Technology announced today its plan to set up a plant in Batu Kawan with an initial investment of RM1.5 billion. Micron Technology senior vice president for backend operations Gursharan Singh said the…