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Kerjaya Prospek secures another contract in Seri Tanjung Pinang 2 project

October 22nd, 2020 No comments

stp2

Kerjaya Prospek Group Bhd has bagged an RM64 million contract to build a sewerage plant for the Seri Tanjung Pinang (Phase 2A) development (STP2) in Penang.

This is the group’s fifth contract in STP2, which is developed by Tanjung Pinang Development Sdn Bhd, an indirect subsidiary of Eastern & Oriental Bhd.

While works related to sewerage treatment plants are unorthodox for Kerjaya, the group said it expects to complete the job favourably, adding that it would be a beneficial experience.

In a filing yesterday, Kerjaya said it will work closely with experienced sub-contractors to implement the latest treatment plant system which has a softer ecological footprint on the environment.

The group’s first contract secured from STP2 involved dredging works back in 2016. This was followed by a construction work contract to build a marine bridge crossing the sea linking Jalan Seri Tanjung Pinang on Penang island in 2018.

Subsequently, Kerjaya Prospek bagged another two contracts for the STP2 project this year, which involved infrastructure works and building a temporary coastal protection structure for phases 2B and 2C of the project.

In a press statement, Kerjaya Prospek executive chairman Tee Eng Ho said upon the successful completion of the latest job, the group will be able to assert its capabilities of undertaking other types of jobs besides high-rise construction works.

“With Kerjaya’s strong outstanding order book at RM3.6 billion, this will provide earnings visibility for the group over the next few years,” he added.

Kerjaya Prospek’s share price closed down 0.5 sen or 0.54% at 92 sen yesterday, bringing a market capitalisation of RM1.14 billion. Some 390,300 shares were traded.

Source: EdgeProp.my

 

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UPCOMING: Kubang Semang / Diversified Enterprises Sdn. Bhd.

October 21st, 2020 No comments

proposed-development-by-diversified-enterprises

A newly proposed strata residential development by Diversified Enterprises Sdn. Bhd. at Ara Kuda in Northern Seberang Perai. Located on a 14.1 acres land adjacent to Taman Ara Kuda, only several steps away from the Penang-Kedah state border. It only takes less than 10 minutes to drive to Kulim Hi-tech Park, about 25 minutes drive to Penang Bridge during off-peak hours.

This development will feature a gated and guarded community, offering 58 units of 2-storey semi-detached houses and one unit of 2-storey bungalow.

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

Project Name : (to be confirmed)
Location : Ara Kuda, Kubang Semang
Property Type : Gated & Guarded
Land Area: 14.1 acres
Land Tenure: Freehold
Built-up Area: 
(to be confirmed)
Total Units 
58 (semi-detached), 1 (bungalow)
Developer :
Diversified Enterprises Sdn. Bhd.

Register your interest here, and we will keep you updated.

(This information will be used to keep you updated on the project and future development.)
*By submitting this Form, you hereby agree to our PDPA Consent Clause.

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.

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Penang to sell state land via open tender to increase revenue

October 20th, 2020 No comments

penang

Penang will sell state land at market price via open tender in order to raise revenue.

Chief Minister Chow Kon Yeow in his winding up speech at the state legislative assembly here today, said the move was to manage the deficit budget tabled for 2021.

With the move, he added, the state does not have to cut into its consolidated reserve funds.

“We can now consider selling state land through open tender unlike the current practice where the sale of state land is conducted directly by certain applicants and the sale price is based on the value of land set by the Valuation and Property Services Department.

“Through open tender, we can sell the state land to the highest bidder. This process will be done in accordance with land sale regulations,” he said.

Besides selling land, Chow said dormant state land would be transferred to the Penang Development Corporation (PDC) to be monetised.

Chow also said that another method was to reclassify rural land as urban land, this as development had changed the landscape of some rural areas, turning them into towns.

He also said it was unavoidable for Penang to have presented a deficit budget of RM403.8 million for 2021, adding that it had a choice to present a surplus budget but decided against it as it had allocated a large sum of the budget towards protecting the people’s welfare in facing a challenging economy.

“We have been presenting a deficit budget every year, but finally, we always record a surplus, except in 2018. The state’s revenue is also affected by the Covid-19 pandemic since one of the highest sources of revenue for the state is from the entertainment and tourism industriies,” he added.

Meanwhile, Chow has asked Putrajaya to allocate at least RM1 billion to the state annually for its contribution to the economy.

He cited last year’s contribution of RM94.7 billion, or 6.7 per cent of the gross domestic product, with Penang being the fourth highest contributor in the country

“As such, the federal government must reward Penang fairly,” he added.

He also noted that Penang only received RM241 million in federal funding this year, comprising annual per capita contributions based on population, a RM15.1 million Covid-19 aid grant, and road repair funds, among others.

Source: NST Online

 

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Redevelopment for PDC’s landed housing project at Pintasan Cecil and Pengkalan Weld

October 19th, 2020 No comments 中文版

george town

The State Government through the Urban Redevelopment Committee (URC)  is advised to implement redevelopment for housing projects owned by the Penang Development Corporation (PDC) around Pintasan Cecil and Weld Quay.

Pengkalan Kota State Assemblyman (ADUN), Danial Gooi Zi Sen said, the move is appropriate as the housing projects are developed with a less conducive design.

“It is known that these housing projects were developed during the development period of the Tun Abdul Razak Complex (Komtar) project and the design is not very conducive.

Since these projects are landed (landed), it make sense for the State Government to consider the implementation of redevelopment taking into account the density factor.

“Additional facilities should also be included if the development of stratified housing can be studied and considered,” he said when debating the Development Budget Bill 2021 during the 14th Penang State Legislative Assembly at Dewan Sri Pinang, last week.

Zi Sen added that the State Government is also advised to study the implementation of incentive schemes especially for the owners of dilapidated buildings around the George Town area, especially on the dilapidated and abandoned Victoria Street.

“This incentive is believed to help nurture and encourage maintenance, carry out business or residential activities can be carried out in the dilapidated abandoned buildings,” he added.

Source: Buletin Mutiara

 

Gurney Wharf project to start work in early 2021

October 17th, 2020 No comments 中文版

gurney-wharf-ready-2023

The construction works for the components of the Gurney Wharf project are scheduled to take place early next year.

Penang Local Government, Housing, Town and Country Planning Committee chairman Jagdeep Singh Deo said the construction works for the entire project would take about two years.

“We hope that the public can enjoy some of the components after the first year.

“We want to expedite the project for the people of Penang.

“The Penang government has appointed Tanjung Pinang Development Sdn Bhd (TPD) as the project management office (PMO) for the project, since the company is currently managing the land reclamation works of Seri Tanjung Pinang 2 (STP2) that has been approved by the Department of Environment (DoE).

“The state is in the process of appraising and appointing the consultants for the Gurney Wharf project,” he replied to the oral question by Lee Chun Kit (PH-Pulau Tikus) during the State Legislative Assembly in Dewan Sri Pinang today.

The Gurney Wharf project is a proposed seafront public park to be located on part of the 131.09 acres of reclaimed land, off Gurney Drive.

Out of the 131.09 acres of land, about 40 acres are allocated for public facilities.

Jagdeep said the state is committed to provide green and open spaces for the public to enjoy.

Among the components of the Gurney Wharf project, Jagdeep mentioned, are a promenade, a children’s playground, a viewing deck, a skate park, open space parking lots, and ramp facilities for the disabled.

Find out more about Gurney Wharf

Source: Buletin Mutiara

 

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