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No increase in electricity tariff for residential consumers until end of 2024

Property News/ 29 January 2022 No comments

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There will be no increase in electricity charges for residential consumers in the peninsula until Dec 31, 2024, the Energy Commission announced yesterday.

This followed speculation that a new tariff rate would be implemented from Feb 1.

The Energy Commission said domestic users in the peninsula will also receive a rebate of 2 sen per kWj with no surcharge imposed from Feb 1 to June 30.

However a surcharge of 3.7 sen/kWj will be imposed on all non-domestic users, such as commercial and industrial companies.

The Energy Commission said electricity costs had increased by 45% because of higher prices of coal, on which the peninsula is highly dependent.

It said the government had allocated RM715 million from the Electricity Industry Fund to cover the cost of the full rebate and surcharge for all domestic consumers.

Source: FreeMalaysiaToday.com

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VAT Group to set up second plant in Batu Kawan Industrial Park

Property News/ 28 January 2022 No comments

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Leading global developer, manufacturer and supplier of high-end vacuum valves, VAT Group AG, will be expanding its operation in Penang with the new facility located in the Batu Kawan Industrial Park (BKIP).

The first plant of VAT Manufacturing Malaysia Sdn Bhd is located at Persiaran Cassia Selatan 1 and the upcoming new second plant is located at Persiaran Cassia Selatan 6 in BKIP.

The new plant of the Swiss-based company costing RM600 million is introduced as the Factory 1b.

VAT Manufacturing Malaysia managing director Paraveen Singham said the new 39,200sq m plant is expected to be completed in 2024.

“This expansion project is expected to create 600 new jobs in the next five years, bringing VAT’s Malaysia total headcount in Penang to over 1,200.

“The new plant also will more than double the production capacity of VAT’s Malaysian operation, increasing factory output to over RM4.6 billion.

“Once completed and running at full capacity, the extension also is expected to contribute approximately 50 percent of VAT’s total global production capacity by 2028.

“In addition, VAT Malaysia will also set up a new apprentice training centre in Factory 1b to ensure that we are able to build up fresh talents in partnership with local vocational institutes.

“It aims to inspire young Malaysian graduates by offering both on-the-job training as well as employment after training,” he said in his speech before taking part in the ground-breaking ceremony of the new facility at Persiaran Cassia Selatan 6 in BKIP yesterday.

Also participating in the ground-breaking ceremony were Deputy Chief Minister I Datuk Ahmad Zakiyuddin Abdul Rahman, Chief Minister of Penang special investment adviser Datuk Seri Lee Kah Choon, InvestPenang chief executive officer Datuk Loo Lee Lian, Swiss Ambassador to Malaysia Andrea Reichlin and VAT Group AG chief executive officer Mike Allison.

Source: Buletin Mutiara

 

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Year of Tiger’s Property Expo 2022

Events, Property News/ 26 January 2022 No comments

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Roar into 2022 Chinese New Year by visiting the “Property Expo 2022” at Queensbay Mall and Gurney Plaza. Rejoice for making into another year and celebrate the Year of Tiger by shopping for a property of your dream.

All property purchasers and investors must be thrilled and grateful to Property Queen who has brought back this most popular property expo in Penang featuring prominent developers such as Mah Sing, Ideal, BSG, Ewein City of Dreams, Iconic and many more!

Block your calendars now!
It is all happening from 3rd February – 7th February 2022

This is also your chance to meet in person, the famous 988 radio deejay Chan Fong; well-known as one of the country’s most established deejays. Be delighted to get connected with the Mass Communication graduate who brings with him 28 years of broadcasting experience.

It is a necessity for every Chinese New Year event to showcase the God Of Prosperity as this Chinese deity is not just for wealth and good fortune but also for protection. For that, the appearance of God Of Prosperity at the Property Expo will make you HUAT all the way as you scout for your dream home!

During the last Chinese New Year, the pandemic has forbid us the opportunity to enjoy the Lion Dance performance. Worry no more as this Year of Tiger, the Lion Dance Performance will make its way to Queensbay Mall. The Lion Dance will bring everyone good luck and ONG while you check out the exclusive offers from the property developers at the Property Expo.

There are many more activities to be held at the Property Expo, namely China Changing Face Performance, Chinese Orchestra Performance and Chinese Yoyo Performance.

Do not miss this golden opportunity to meet up with the developers to grab your exclusive offers while you enjoy all the activities with your family members!

Date: 3 Feb – 6 Feb
Venue: Gurney
Participants: Ewein City of Dreams, Mah Sing, Kerjaya, Cosmo

Date: 3 Feb – 7 Feb
Venue: Queensbay
Participants: Iconic, GSD, BSG, Palmex, Bionic, Ideal, Nova

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SITE PROGRESS: Terraces Condominium (Jan 2022)

Property News/ 26 January 2022 No comments

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About Terraces Condominium

A highrise residential development by IJM Land at Bukit Jambul, Penang. Strategically located on 9.32 acres of land next to INTI International College. It comprises a 34-storey condominium tower, featuring 410 residential units with two different design types to choose from.

Find out more about Terraces Condominium

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.

Roaring Deals for GEM Residences during this CNY

Events/ 25 January 2022 No comments

Let’s have a ROAR-some and Prosperous Year of Tiger that comes with an Auspicious Angpow up to RM48,888! * 🐯

Book a unit during this CNY and get a Mystery Gift! *

 

Kindly contact Belleview at 016-422 6006 or click: https://wa.link/k9bsai for viewing appointment or visit GEM Sales Gallery from 2nd Feb onwards during this CNY:
Mon – Fri: 9am – 6pm
Sat – Sun: 10am – 6pm

*T&Cs apply, for a limited time only

GEM Residences consist of 978-unit condominium, four 38-storey residential towers 15-unit shoplots at Level 1; it is primed to bring a new standard of living to Prai, Penang by offering a range of well-designed modern living spaces for a wholesome lifestyle experience.

for PPT VT

Developing The New Heart of Seberang Perai, Penang
GEM Residences, GEM Shoppes, GEM Mall and 330-room 4-star Hotel

A 20-acre mixed development along Jalan Baru, Seberang Perai, consists of Gem Residences featuring 978 units of well-designed modern living spaces housed within four residential blocks of 38-storey each – Coral, Ruby, Sapphire and Diamond, and Gem Shoppes, a row of 15 commercial shops on the ground floor, GEM Mall touted to be the northern region’s biggest shopping mall with 1.2million sqft net lettable area is anchored by Sogo department store, a 20-screen Golden Screen Cinemas and an Olympic sized ice skating rink, and a 330-room 4-star Hotel.

Poised to be the new ‘Heart’ of Seberang Perai, the development is located along Jalan Baru with convenient access to the North-South Highway and Butterworth Outer Ring Road (BORR), and also the future public infrastructure LRT and Monorail under the Penang Transportation Master Plan (PTMP).

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Register your interest here

*By submitting this Form, you hereby agree to our PDPA Consent Clause.
(This information may be used by the developer or their appointed agent to initiate follow-up communications with you on the project.)