The Penang government is optimistic that the Silicon Island project, once completed, will replicate the success of the Bayan Lepas Free Industrial Zone (FIZ).

Chief Minister Chow Kon Yeow said this is possible through a topside development plan for the project.

Chow, alongside Penang Yang di-Pertua Negeri Tun Ahmad Fuzi Abdul Razak and other state dignitaries, made a historic visit to Silicon Island since its reclamation started in September of this year.

“The topside development plan features the high-tech industrial park called ‘Green Tech Park’ (GTP) as well as digital technology infrastructure, e-commerce, and Business Process Outsourcing (BPO) facilities.

“The GTP is designed with environmental, social and governance (ESG) concepts that will be able to attract compliance-conscious investment that is now a global corporate focus.

“The location of the GTP and BPO also is strategic because it is close to the Bayan Lepas Free Industrial Zone (FIZ), Penang International Airport (PIA) and the Sultan Abdul Halim Muadzam Shah Bridge.

“As a result, this will guarantee the development and increase the competitiveness of Penang’s electrical and electronics (E&E) manufacturing sector, similar to what was achieved with the development of Bayan Lepas FIZ,” Chow said in his speech at the Region 1 Marine Police Base in Batu Uban yesterday.

Silicon Island, renamed from Island A under the proposed Penang South Islands (PSI) project, is located at the south end of Penang Island, measuring 2,300 acres in land size.

It is the only island to be reclaimed out of the proposed three islands after the state government decided to scale down the PSI project on the advice of the Federal government.

Silicon Island is expected to be fully reclaimed by 2032, with the entire development spanning 25 years.

The reclamation of PSI’s Silicon Island is undertaken by Silicon Island Development Sdn Bhd (SIDSB).

SIDSB is the project developer (PD) set up by PIC PD Sdn Bhd and SRS PD Sdn Bhd. PIC PD owns 30% of SIDSB while SRS PD owns the remaining 70%.

Chow said the development of Silicon Island is expected to generate a Gross Domestic Product (GDP) of RM1.1 trillion and an RM74.7 billion investment, apart from creating 220,000 job opportunities that will benefit Penangites and Malaysians.

“Silicon Island will also improve liveability and quality of life, increase household incomes, empower the people, especially local fishermen through the Social Impact Management Plan (SIMP), increase the built environment’s resilience to reduce carbon emissions, increase the use of renewable energy and face climate change challenges.

“Therefore, we are confident that Silicon Island will play its role as an environmental, social and governance (ESG) compliant project to attract investors, develop the state’s economy, and safeguard the well-being of the local community at the same time,” he said.

In a press conference later, Chow said since the reclamation of Silicon Island started in September, a total of five acres of land have been reclaimed so far.

“This is just preliminary work only. The project can be expedited based on the market demand.

“Starting next year, we will increase the number of ships to be used to ferry the sand and pump the sand to Silicon Island.

“We expect to reclaim around 300 to 400 acres per year. This does not include infrastructure works as they can only begin after the reclamation works are fully completed,” said Chow.

Arriving at the site at about 10am yesterday, Ahmad Fuzi, Chow and other distinguished guests were briefed on the progress by the officers from the Gamuda Berhad.

They spent about 30 minutes on the man-made island. Many of them were seen taking the opportunity to snap photographs around the vicinity.

The visit included tree planting as a symbolic gesture.

Source: Buletin Mutiara

Source: Google Street View

Ivory Properties Group’s unit Ivory Gleneary Sdn Bhd is divesting a piece of land in Georgetown, Penang to Chin Hin Group Property Bhd for RM40 million.

The land is about 1.218 acres within an existing project known as Penang Times Square.

Chin Hin Group plans to develop the land into a multi-storey serviced residence and has agreed that a company within the Ivory group of companies be appointed as the turnkey builder for the development.

In a filing with Bursa Malaysia Securities Bhd, Ivory Propertie said the disposal forms part of its regularisation plan, a critical corporate endeavour for Ivory, along with prospects for future dividend income from share of net profit of the development without actual cash flow as the initial cost of investment.

The turnkey builder work is anticipated to yield construction revenue.

The proposed disposal also entails granting Ivory an irrevocable exclusive right, allowing one of its subsidiary companies to subscribe to up to 20 per cent of the ordinary share capital of Chin Hin.

Source: NST Online

About Damai Springs

A small landed housing development by General Supreme Sdn. Bhd. (a subsidiary of Airmas Group) in Bukit Mertajam. Strategically located near Jalan Betek with direct access to Jalan Song Ban Kheng, diagonally opposite Harmoni Residensi gated and guarded community. This development comprises 26 units of 2-storey terrace and 4 units of bungalow houses.

Find out more about Damai Springs

The Fame, a serviced residence development by TF Land Sdn. Bhd. at Machang Bubok in Bukit Mertajam. It is located on 3.4 acres of land along Jalan Machang Bubok 1, right opposite TF 65 shop offices. It is just a stone’s throw away from Tropicale Residency gated housing scheme, less than 10-minute drive to Bukit Mertajam Town Centre via Jalan Kulim.

This is set to be one of the first serviced apartment developments in Machang Bubok, consisting of two residential towers, one with 17 floors and the other with 18 floors, and several retail and commercial units. The residential component will feature a total of 318 serviced apartment units, offering a choice of 6 different layouts, ranging in size from 850 sq. ft to 1,350 sq. ft.

Project Name : The Fame
Location : Machang Bubok, Bukit Merajam
Property Type : Mixed development
Total Units: 318 (residential), 20 (commercial)
Built-up Size: 850 sq. ft – 1,350 sq. ft.
Tenure: (to be confirmed)
Indicative Price: (to be confirmed)
Developer : TF Land Sdn. Bhd.

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.

MY EG Lodging (NC) Sdn Bhd, a subsidiary of MYEG Services Bhd, today signed a lease agreement with the Penang Development Corporation (PDC) to build a RM108 million foreign workers’ housing in Batu Kawan.

The workers’ village project, located at Batu Kawan Industrial Park 3 (BKIP3), is expected to house at least 8,000 foreign workers upon completion.

According to MYEG director Datuk Mohd Jimmy Wong Abdullah, the project is expected to complete by 2026.

“Along with this project, MYEG will offer other services such as application for work permits, provision of fully equipped facilities and amenities for the foreign workers including surau, sundry store and recreational areas,” he said in his speech at the signing ceremony at Jen Hotel here today.

He said all facilities will be in accordance with the standards set by the International Labour Organisation (ILO).

“This MYEG-PDC workers housing project is the first such project in Penang,” he said.

Later, in his speech, Penang Chief Minister Chow Kon Yeow said PDC called for a request for proposal (RFP) for the project between September 29 and November 29 last year.

He said PDC received three proposals and the proposals were presented to the PDC board and PDC Acquisition Board before MYEG was selected.

“This project will involve building a workers’ hostel in BKIP3 on a plot of land measuring around 8.3943 acres,” he said.

He said the workers’ quarters will resolve issues such as foreign workers being placed in existing residential areas, influx of illegal foreign workers and manage the drop in property prices due to certain areas being used as foreign workers’ housing.

He said PDC currently has four other foreign workers’ housing projects in the pipeline.

“These projects will be able to house between 30,000 and 35,000 workers,” he said.

MYEG today signed a 30-year lease agreement with PDC at a sum of RM20.4 million for the 8.3943 acres land.

The workers village will consist of eight blocks of five-storey workers’ accommodations with 445 hostels to house an approximate 8,000 workers.

Source: MalayMail.com