The government has instructed banks to automatically approve applications to freeze loan repayments by applicants in the bottom 40% income group (B40) as well as micro-enterprises with debts of below RM150,000. Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz (pictured) announced this today during his winding-up speech on Budget ... Read More

Ivory Properties Group Bhd (IPGB) said it has received the shareholders’ approval for the acquisition of two pieces of adjoining freehold land, totaling 1.98 hectares (ha), located opposite Penang Queensbay Mall. The announcement was made following IPGB’s virtual Extraordinary General Meeting (EGM) today, in which shareholders and proxies participated in the meeting via ... Read More

The Penang government has reiterated that the projects under the Penang Transport Master Plan (PTMP) would only start after the respective projects obtained the approvals. State Transport and Infrastructure Committee chairman Zairil Khir Johari (PH-Tanjong Bunga) said the Penang government would not start any of the project without first obtaining the ... Read More

The Penang government will appoint a consultant for the landscaping works at the newly-reclaimed Gurney Wharf project next month, says Chief Minister Chow Kon Yeow. Chief Minister Chow Kon Yeow said the consultant would then have time to call for tender to appoint contractors for various stages of work on the ... Read More

The Penang Island City Council (MBPP) has announced its ‘Early Commencement Work’ initiative for the construction industry involving residential and commercial sectors. MBPP mayor Datuk Yew Tung Seang said the initiative was to stimulate the local economy which has been affected due to the Covid-19 pandemic. “The residential projects consist of ... Read More

For the second year running now, the Penang Island City Council (MBPP) has tightened its partnership with IBM Malaysia Sdn Bhd after a memorandum of understanding (MoU) was signed today. The collaboration would see both parties work closely to further enhance smart city initiatives to improve the delivery of public ... Read More

The loan repayment flexibility will be opened for application from Aug 7, 2020, Bank Negara Malaysia (BNM) (pictured) announced yesterday. In its media statement after Prime Minister Tan Sri Muhyiddin Yassin’s announcement yesterday concerning the extension of loan repayment moratorium, BNM noted that it has told banks to deliver a simplified ... Read More

Vortex Business Park 2 is the last phase of the light industrial component of a 35.3 acre mixed development strategically just next to Batu Kawan, the new industrial hotspot in Penang. Due to its close proximity to the new township of Batu Kawan, it is increasingly on the radar of ... Read More

Ivory Properties Group Bhd has acquired two pieces of adjoining land in Penang, for RM142.79 million where it aims to develop commercial space and service apartments. The Penang-headquartered property developer said the 19,800-sq-metre freehold land was located strategically in the established neighbourhood of Bayan Lepas directly opposite Queensbay Mall, the ... Read More

The Penang government will come out with an action plan to ensure that the low-income earners will still have access to affordable homes post Covid-19. State Local Government, Housing, Town and Country Planning Committee chairman Jagdeep Singh said it was undeniable that the property sector would face tough times ahead. “We ... Read More