After a year of battling the Covid-19 pandemic, there does not seem to be an end in sight with many countries continuing to impose lockdowns, albeit of differing severity. In Malaysia, the third wave of the outbreak and the subsequent Movement Control Order (MCO) 2.0 have added to the uncertainties in the country’s economic outlook.
However, amid the current turmoil, there is some good news for Penang. In presenting the 4Q2020 Penang Housing Property Monitor, Raine & Horne International Zaki + Partners Sdn Bhd senior partner Michael Geh says data from the National Property Information Centre (Napic) shows that the state’s property market saw a major spike in terms of transaction volume in 3Q2020, and he expects this trend to have continued into 4Q2020.
GEORGE TOWN: Parti Gerakan Rakyat Malaysia urges the Penang government to explain four major doubts on the Penang Undersea Tunnel project raised by the party following the completion of the project s feasibility study.
Its deputy president Oh Tong Keong urged the state s Chief Minister Chow Kon Yeow to answer to the queries. The feasibility study report of the Penang Undersea Tunnel project by Consortium Zenith Construction Sdn Bhd is finally completed, as pointed out by Penang Work, Utilities And Flood Mitigation Committee chairman Zairil Khir Johari. First, where is the tunnel entrance and exit finalised in the feasibility report? he said.
GEORGE TOWN (Jan 6): The Penang Government is currently in discussion with concession company, Consortium Zenith Construction Sdn Bhd (CZC) to sign a sub-agreement for Package 2 of the Penang Transport Master Plan (PTMP).
Chief Minister Chow Kon Yeow said the sub-agreement would contain several matters including the construction, design and land swap details for highway construction. The State government is in discussion with CZC to sign a sub-agreement for Package 2 which involves the Tun Dr Lim Chong Eu Expressway-Air Itam,” he told a press conference here today.
Chow was commenting on a news report that said the tunnel project had been given a new lease of life with a Kedah-based developer taking over the project through the purchase of a majority share in CZC.
Monday, 21 Dec 2020 02:22 PM MYT
BY EMMANUEL SANTA MARIA CHIN
Lim Guan Eng (right) is seen with his lawyer Gobind Singh Deo outside the Kuala Lumpur High Court December 21, 2020. Picture by Hari Anggara
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KUALA LUMPUR, Dec 21 With trial dates set for June next year, the legal team of DAP secretary-general Lim Guan Eng have expressed their preparedness for his defence in court.
Lim’s lead defence counsel and Puchong MP Gobind Singh Deo, speaking to reporters after today’s proceedings, reiterated their position that the case lacks concrete evidence to prove any form of corrupt wrongdoing against Lim.
In Malaysia, the Covid-19 outbreak and subsequent Movement Control Order (MCO) badly affected many sectors, especially in the first half of the year. The current third wave of infections and further political turmoil have added to the uncertainties that the country is already facing.
For the property sector, with business being disrupted due to the closure of sales galleries, developers and agents have turned to online platforms to sell their properties and close sales. While developers have offered many packages and incentives, the performance of the property market continues to be impacted by Covid-19.
In presenting the 3Q2020 Penang Housing Property Monitor, Raine & Horne International Zaki + Partners Sdn Bhd senior partner Michael Geh notes that Penang’s property market performed poorly in the first half of the year. The Ministry of Finance’s Valuation and Property Services Department data shows that real estate transactions in the state experienced a sharp decline in the s