中低阶级难置业 高收入者独霸槟岛？

根据槟城研究机构(Penang Institute)的一项槟州产业房屋研究报告，槟岛人的“居住权”潜伏被高收入者占领的危机，预料2014年后，中低阶级者或被逼迁离外州，无法在槟岛置业。

去年10月，槟城研究机构(Penang Institute)的城市规划及环境研究主任史托麦丹奴，针对槟岛和威省从2006年至2011年10月的房产资料，进行一项研究和分析报告。

报告内容分两部分，首部分是研究槟房产市场供应和需求，及槟民的住房负担能力进行评估；后部分则研究导致槟州产业价格急速飙升的因素，及槟城未来房屋发展方向。《光华日报》针对摘录报告重点，即日起以文字报道，为槟城的“房事”把脉。

房产暴涨收入却保持

人人都在埋怨，房产价格暴涨的同时收入却没有相对提升，这种失衡状况导致大多数人，工作半辈子只有能力付得起房屋“首期”，一辈子沦为“房奴”。光华

MPPP offers properties

GEORGE TOWN: Seventeen properties and a piece of land belonging to the Penang Municipal Council (MPPP) on the island are to be sold through open tender at a reserved price of RM18.6mil.

State Local Government and Traffic Management Committee chairman Chow Kon Yeow said the land and properties had a total land area of 0.8ha.

The land is a 0.4ha site in Jalan Sultan Azlan Shah, while the rest are three retail lots in Prangin Mall and 14 pre-war landed properties in Jalan Hutton, Lebuh Kimberley, and Jalan C.Y. Choy.

High maintenance cost incurred for the retail and pre-war properties and the need to raise funds for land purchase were among the reasons for the planned sale, said Chow.

“The proceeds from the sale will go towards funds to acquire new land,” he said.

Chow added that MPPP planned to acquire two plots of land in Balik Pulau and Jalan Masjid Negri and a market-cum-hawker complex in Teluk Kumbar and in Batu Ferringhi totaling 7.89ha for RM40mil.

“The 956 sq m land in Balik Pulau is planned for a recreational park, while the 0.8ha site in Jalan Masjid Negri is for a road widening project,” he said.

Chow said seven plots of land in Lebuh Union, Jalan Burmah, Jalan Hamilton, Jalan Kuala Kangsar, Lebuhraya Batu Lanchang, Jalan Cheesemen and Jalan Free School, and two condominium units in Pesiaran Gurney totalling 3.6ha had been sold since 1990 for RM29.4mil.

“Some RM44.1mil has also been spent on acquiring six plots of land totalling 117.6ha on the island for the development of community parks, public markets, landfills, access roads, and car parking bays,” he said.

On state Barisan Nasional Youth chief Oh Tong Keong's recent statement that Penang Chief Minister Lim Guan Eng might one day sell off Komtar and that Penang land was not for cheap sale, Chow said the bulk of Komtar had already been sold off.

Chow said about 60% of the Komtar Urban Redevelopment Project had been sold to private developers since 1983.

Chow said the Penang Development Cor-poration (PDC) still owned 42.95% of Komtar Tower, and 37.59% of the Komtar podium.

“The rest of the Komtar Tower was sold to state and federal government agencies, and the remainder of the podium to retailing businesses.

“PDC also owns the 1.8ha site of Phase 5, which has been designated for the Penang Heritage Square project,” he added. - The Star

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Developers urge Government to bring down cost of doing business

PETALING JAYA: Property players are hoping that Budget 2013 would introduce encouraging policies or tax adjustments that allow businesses to thrive in the current local and global economic environment.

Mah Sing Group Bhd managing director Tan Sri Leong Hoy Kum hopes to see new financial incentives, tax breaks or even infrastructure projects that will directly and indirectly benefit the sector as it is a key growth pillar for the economy due to its impact on more than 140 industries.

“We hope there will not be any policies or requirements which will increase the cost of doing business. At the same time, we hope for measures to reduce compliance cost, ultimately promoting the property market,” he said in a statement.

Leong explained that by reducing compliance cost, it would directly reduce the cost of doing business and the savings passed on to buyers would improve the affordability of the properties.

He suggested some measures to increase affordability such as charging tariff-based utility fees, limiting the requirement of land to be surrendered to improve the efficiency of land use and applying plot ratio instead of density to encourage smaller, more affordable units and at the same time reduce land cost per unit of property.

He also suggested reducing stamp duty so that the cost of property and home ownership could be reduced.

“We propose that the stamp duty be reduced to 0.5% for the first RM300,000, 1% between RM300,000 and RM1mil and 2% in excess of RM1mil,” he said.

He added: “Property is acknowledged as the best hedge against inflation, and people buy properties as a form of wealth preservation and not speculation. We hope that the Government would balance its approach in stimulating the property sector which is an important engine of growth for the country.”

To minimise the Government's loss of income, Leong said that maintaining a favourable real property gains tax regime could potentially increase sales and stronger growth of property and housing industry, which in turn bring in higher stamp duties due to higher transactions.

To further stimulate the property sector, Leong recommended a tax relief extended to all interest incurred on end financing for the first home.

“Alternatively, the Government could consider providing grants of up to 10% of the purchase price of affordable properties, to first-time home owners,” he said.

Leong also hoped that the Government would further ease policies to encourage foreigners to buy properties in Malaysia.

“As foreign purchasers account for only 2% of property transactions in Malaysia, this will not be a big cost to bear, and at the same time, can project a pro-investment image to the world at large,” he said.

On another note, Leong said that with the escalating pressure of higher cost of goods, the Government could consider reducing the personal income tax rate or increase personal income tax relief to raise disposable income.

“As a business friendly measure to encourage economic growth and to be in line with regional practices, we hope to see a reduction in corporate income tax as well,” he said.

It was also reported that property and plantations group Tradewinds Corp Bhd had hoped for measures to sustain domestic economic growth in the wake of the uncertain world economy.

Chairman Tan Sri Megat Najmuddin Megat Khas said concerted efforts were needed for Malaysia's economy to continue to expand in order to cushion the impact of the current sluggish global economy.

He noted the bearish European economy and slowing growth in China has rubbed off on the local economy.

“We've to find our own solutions (to our own problems). We should not merely rely on other countries. Unfortunately, our country is still dependent on imported goods. Hence, we should improve on our competitiveness to produce more competitive products,” he said. - The Star

EPF others jointly buy London's Battersea site for RM2bil

LONDON: The Malaysian consortium comprising property developers S P Setia Bhd, Sime Darby Bhd and the Employees Provident Fundbecomes the official owner of the 39.5-acre Battersea Power Station site after paying £400mil (RM1.99bil) on Tuesday with a £300mil bridging loan from CIMB, said S P Setia president and CEO Tan Sri Liew Kee Sin.

The remaining £100mil was paid as per the equity stake of each of the three consortium partners, with both S P Setia and Sime Darby forking out 40% each and EPF the remaining 20%.

This will be the first and the largest property development for both Sime Darby and S P Setia in Britain with a gross development value of £8bil (RM39.8bil).

The completion of the purchase saw the boards of Sime Darby and S P Setia and a team from EPF descending on London along with analysts and the press.

Plans for site: Liew (second from right) giving a briefing on development proposals for the Battersea Power Station site. Also at the briefing in London are Tincknell (left) and Murphy (right). — Bernama

Minister in the Prime Minister's Department Datuk Seri Idris Jala and London mayor Boris Johnson gave speeches to mark the official cocktail held on Wednesday evening.

At an earlier press interview on Tuesday morning British time, Liew said “although the consortium may not have the experience in this side of the world, we have the British technical team to see to it while we provide the concept and the funding.”

A newly-minted British company Battersea Power Station Development Co Ltd has been formed “a few days ago” with a logo of the Battersea Power Station and its four chimneys. This team from Battersea Power Station Development Co comprises the technical, management and financial team from those previously involved in the Battersea Power Station when it was owned by Irish firm Real Estate Opportunities (REO) before the site was placed under administration last year.

The newly-formed company's chief executive officer Robert Tincknell, who has been employed by REO for the last 10 years, will manage the project.

“Now that the project is fully paid, the next step is to work out the financing structure, whether it will be in Sterling pounds, whether it will be issuing of sukuk and seeking the best rates among banks,” said Liew.

The financing team headed by Battersea Power Station Development Co chief financial officer Simon Murphy and those in Kuala Lumpur “will find the best structure going forward for the long term,” said Liew.

Malaysian project: SP Setia president and CEO Tan Sri Liew Kee Sin showing the Battersea power station site in London that will be developed by Battersea Power Station Co Ltd, a consortium consisting of Sime Darby Bhd, SP Setia dan Employees Provident Fund. — Bernama

“We will enhance the value of the site,” he said.

What is important at this juncture is that the site is purchased clean of liabilities and it comes with an approved planning consent. The master plan is being done by renowned award-winning architect Rafael Vinoly.

The master plan will feature 3,400 new homes, 160,000 sq m of new office space, 56,000 sq m of retail and 9 ha of public parks and spaces.

Besides the long-term financing structure, the next step is to plan the development of phase one.

This will comprise the development of the residential units next to the power station and the refurbishment of the power station itself.

The units will be officially launched next year with construction to begin in April.

On comments that the deal hinges on contributions to British infrastructures, Liew said that other than the purchase price of £400mil, the consortium had to contribute £211mil over the duration of the 10- to 15-year project for infrastructure works.

“This is to be paid on a staggered basis as we go along,” he said, The first portion of £38mil will be paid in two equal portions of £19mil each in 2014 and 2015.

A major portion of £203mil will be for the extension of the Northern Lines, which involves the development of two stations with one of them at the power station site itself and the remaining £8mil for other infrastructural works.

He said this contribution towards infrastructure works was not due only from the Malaysian consortium but from other developers whose projects would benefit from the extension of the Northern Line calculated at a certain rate in proportion to the land they own and planned for development.

Liew said the fact that planning consent was already given by the British authorities and that there were already plans to extend the Northern Line close to the power station by the local authorities were huge plus factors.

Other features which add premium to the site are the nearby 200-acre Battersea Park, River Thames frontage and Chelsea and Sloan Square located on the other side of the Chelsea Bridge.

The site is also part of Vauxhall Nine Elms' largest urban regeneration project in central London.

Sime Darby president and group chief executive Datuk Mohd Bakke Salleh said the support given by the British government was tremendous.

“The British are very keen to develop and regenerate the site and this support will work for all parties concerned,” he said.

On who would be the target purchasers, Bakke said the project would be sold to everybody.

“London has a huge global market. The fact that the eurozone is facing some challenges at the moment has also enhanced the safe haven aspect of British properties,” he said. - The Star

Affordable housing a Budget priority

PETALING JAYA: Affordable housing will be one of the highlights in Budget 2013, said Datuk Donald Lim Siang Chai.

The Deputy Finance Minister said among the initiatives being looked into was the enhancement of low-cost home development projects, particularly the My First Home Scheme.

Lim said the Government had proposed to increase the limit of house prices under the scheme from RM220,000 to RM400,000 to fulfill the needs of those earning below RM3,000.

“Over 70% of Malaysians live and work in urban areas and easing their financial constraints will be highlighted in the upcoming Budget,” he said.

In July, the ministry concluded discussions via 18 focus group meetings exploring areas like affordable housing, urban transformation plan, small and medium enterprises and green technology.

More than 84 memoranda and proposals from various groups, NGOs and individuals were handed to the ministry for the Budget.

Topping the wish list were affordable housing, lower taxes, cheaper food and better public transportation.

Budget 2013 will be tabled in Parliament on Sept 28.

Lim said Malaysians should not rule out the possibility of a second round of the 1Malaysia People's Aid (BR1M) programme.

“We respect Deputy Prime Minister Tan Sri Muhyiddin Yassin's wishes for a second BR1M and are looking at our financial standing before making a decision,” Lim said after launching myTRADELINK, a new trade facilitation portal.

The portal, an initiative by the Finance Ministry and operated by Dagang Net Technologies Sdn Bhd, acts as a platform where businessmen can exchange documents required to fulfil regulatory trade processes for import, export or transit via the Internet. - The Star

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3工程月杪竣工 敦林大道即将告别“塞车”

槟城4日讯）敦林苍祐大道3项提升工程将竣工，峇六拜工业区上班族在10月起，即可摆脱塞车之苦。

敦林大道于今年初进行提升工程，主要是疏解该大道在繁忙时间出现的交通阻塞状况。历经半年后，负责这项工程的怡保工程置地公司北马区总经理杜进良向《光华日报》证实，工程将于9月杪全面竣工。

他说，这3项提升工程包括：从牛汝莪高架公路及敦林苍祐大道交界处开启回转路线、加宽敦林大道峇都蛮路段（N-PARK前）的双向车道，从原本4个车道，增加至6个车道，以及重建该处的行人天桥。

“我们将于本周六（8日）移交 U 转路线的权限给大马大道局，由当局来决定几时启用该 U 转路线。承包商已安装上指示牌及完成美化工程，只要大道局开放，公众就可使用。” - 光华

Nomad unit buys Penang hotel

KUALA LUMPUR (Sept 5): Nomad Group Bhd's wholly-owned unit has proposed to pay RM25 million for 100% of Bella Varia Sdn Bhd, which undertakes hotel operations and rents commercial space in Grand Paradise Hotel in George Town, Penang.

"The proposed acquisition represents an opportunity for the group to increase its hospitality assets base and to expand its geographical location to include Penang," the company said in a statement on Tuesday, adding that the purchase price took into consideration the "comparable market value of similar properties".

Grand Paradise Hotel — a nine- storey two-star hotel with 96 rooms along Jalan Macalister — is built on a 13,278 sq ft land with a net book value of RM11.9 million, the company said.

Nomad's unit Nomad Properties Sdn Bhd will assume the RM9.04 million outstanding loan owned by Bella Varia to Bank Perusahaan. There are no other material financial commitments apart from the purchase price and renovation costs which are yet to be determined.

Bella Varia made a net loss of RM98,932 for the year ended March 31, 2011 and its net assets stood at RM2.64 million. The sellers are Datuk Pardip Kumar Kukreja Gurbachan Singh and Datuk Abdul Halim Abdullah, who own 40% and 60% of Bella Varia respectively.

The deal, expected to be completed by Oct 1, is not expected to have a material impact on earnings for the year ending Dec 31, 2012 but could boost future earnings, said Nomad. The deal will be funded with a mix of internal cash and borrowings.

This article appeared in The Edge Financial Daily on Sept 5, 2012.