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Pageant to promote Penang to the world ...

Latest News 21/06/2017 GEORGE TOWN (June 21) BEAUTY queens from 30 countries have ...

Pageant to promote Penang to the world

GEORGE TOWN: BEAUTY queens from 30 countries have confirmed their participation in the Miss Cosmopolitan World (MCW) 2017 beauty pageant in Malaysia..

Event founder Amelia Liew said she hoped the number would hit 38, with each representing one country.

She said the contest drew beauty queens from 18 countries when it debuted in 2015, adding that the main objective of the pageant was to promote Malaysia to the world.

“Last year, we had contestants from 28 countries,” she said during a press conference at Vouk Hotel Suites on Monday.

Liew, who is production director of Amelia Productions, said the grand final would be held at Hotel Istana, Kuala Lumpur, on Sept 16.

She said the finalists would come to Penang to visit places such as Fort Cornwallis and Armenian Street from Sept 8 to 10.

They will also join corporate social responsibility programmes while in Penang.

“With the support of our partner Zeon Properties, our MCW finalists will make special appearances.

“A lot of contestants will be in Malaysia for the first time.”

The event is supported by Tourism Malaysia and Penang State Tourism.

State Tourism Development Committee chairman Danny Law Heng Kiang said the contestants would be able to promote Penang and Malaysia when they return to their home country.

“We hope the MCW final will be held in Penang next year so we can promote our numerous attractions to the participants,” said Law.

For more details, visit www.misscosmopolitanworld.com or their Facebook page.

Registration for MCW is open until the end of July.

 

Source: www.thestar.com.my

 

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2017 COD Run....

Latest News 14/04/2017 Penang (April 14): 2017 COD RUN ...

2017 COD RUN

Penang (April 14):
Date: Sunday, 17th SEP 2017
Time: 06:00am
Venue: Fort Cornwallis, Esplanade, Penang
Distance: 11KM
Fees: Individual RM55 - 75 / Team RM50 - 70
Registration: https://event.howei.com/event/cod-run-2017
#CODRide
#CODRun
#CityofDreamsPenang

 

 

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PJK PKT Leon Lee representing Dato SK Ewe officiating AktifPenang Version 2....

Latest News 04/11/2016 Penang (Nov 4): PJK PKT Leon Lee representing Dato SK Ewe officiating AktifPenang Version 2 ...

PJK PKT Leon Lee representing Dato SK Ewe officiating AktifPenang Version 2.

Penang (Nov 4): PJK PKT Leon Lee representing Dato SK Ewe officiating AktifPenang Version 2. City of Dreams (Ewein-Zenith) is the sponsor for this event.

 

 

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Zeon Properties Group together with Ewein Zenith Sdn Bhd, organized 'CARING' ...

Latest News 15/10/2016 Penang (Oct 15) Zeon Properties Group together with Ewein Zenith Sdn Bhd, organized 'CARING' ...

Zeon Properties Group together with Ewein Zenith Sdn Bhd, organized 'CARING'

An Event where we will distributing food to the poor and needy at Penang's Landmark the Guan Yin Teng Temple. We at Zeon Properties believe in giving back to the society.

 

Source: www.eweinzenith.com

 

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Embracing Health and Awareness ...

Latest News 08/10/2016 GEORGE TOWN (Oct 8)Embracing Health and Awareness ...

Embracing Health and Awareness

DEVELOPER Ewein Zenith Sdn Bhd will be the main sponsor for The Star’s FitForLife Fun Run for the second year.

The consortium is sponsoring RM30,000 for the event, which is in line with its belief incultivating wellness in one’slifestyle.

 

Source: www.thestar.com.my

 

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Zeon Properties Group, Ewein Zenith-City of Dreams & Hairstory International at the Asean Outstanding Business Award 2016 ...

Latest News 10/9/2016 GEORGE TOWN (Sept 10) Zeon Properties Group, Ewein Zenith-City of Dreams & Hairstory International ...

Zeon Properties Group, Ewein Zenith-City of Dreams & Hairstory International at the Asean Outstanding Business Award 2016

Zeon Properties Group, Ewein Zenith-City of Dreams & Hairstory International at the Asean Outstanding Business Award 2016 — dengan Derick Tze Wei Ooi, Zeon Development dan City of Dreams.

 

Source: www.zeon.com.my

 

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Ewein eyes next Tanjong Pinang project ...

Latest News 13/4/2015 Company has high hopes of being chosen because of its current relationship with CZBUCG ...

Ewein eyes next Tanjong Pinang project

KUALA LUMPUR: Ewein Bhd, which is developing its first property project valued at RM800 million at Bandar Tanjong Pinang, Penang in a joint venture (JV) with Consortium Zenith BUCG Sdn Bhd (CZBUCG), is looking to bad the next parcel of land the latter will be offering for development there.

It expects the next project to be up for grabs in the second half of this year.

"We are now working closely with CZBUCG to explore the potential [developmen] of the next parcel of land measuring 4.29 acres (1.73ha). It will also require the approval of the Penang Island City Council on the planning permission for the proposed development," Ewein managing director Datuk Ewe Swee Kheng told The Edge Financial Daily in an interview last week.

He declined to reveal the details, but that it is likely to be another high-rise residential development.

It is understood that the second project will have a gross development value (GDV) of RM1 billion.

On March 31, 2015, Ewein (fundamental: 1.1; valuation: 1.4), through Ewein Zenith Sdn Bhd, a 60:40 JV between Ewein and CZBUCG, received planning permission from the penang island city council to develop luxury serviced apartment on a 3.67-acre piece of freehold land in Bandar Tanjong Pinang.

Dubbed "City of Dreams", the project features two blocks of 38-storey towers housing a total 572 units, with built-ups ranging from 1,100 sq ft to 2,350 sq ft.

Ewe said the sea-fronting serviced apartment will be priced from RM1,200 per sq ft, which is relatively lower than Eastern & Oriental Bhd’s high-end condominiums at Seri Tanjong Pinang nearby which are going for RM1,800 per sq ft.

Ewe pointed out that while Ewein Zenith was chosen to develop the City of Dreams project, it is not guaranteed that it will be the chosen developer to undertake the remaining parcels of land in Bandar Tanjong Pinang.

'Of course, we (Ewein) have high hopes to being chosen because of our current relationship with CZBUCG. That's why we must ensure that our first project (City of Dreams) is successful. If we do the project well, there is no reason why the relationship cannot continue," he said.

CZBUCG executive vice-chairman Datuk Lee Chee Hoe concurred, saying Ewein Zenith can then focus on property development while CZBUCG will focus on construction projects.

Bandar Tanjong Pinang entials 110 acres of reclaimed land in Tanjong Pinang that was given to CZBUCG by the Penang state government as compensation-in-kind for the building of the RM6.3 billion Penang Undersea Tunnel, which includes three road bypasses.

Lee said Bandar Tanjong Pinang is estimated to have a GDV of RM25 billion over the next 10 years.

According to Ewe, Bandar Tanjong Pinang will comprose a combination of residential and commercial perperties, but the proportion will depend on prevailing property market conditions.

"We have a masterplan [for Bandar Tanjong Pinang], but it is subject to change according to market conditions," he added.

Ewein, which is deversifying its revenue stream from manufacturing of precision sheet metal fabricated parts to include property development, expects moderate growth for the current financial year ending Dec 31, 2014 (FY15) as the sluggish demand from the electronics and electrical sector continues.

The group saw net profit for FY14 grow 110.3% to RM 3.46 million from RM1.65 million in FY13 on higher contribution from its investment holding activities.

However, revenue fell 14.2% to RM44.63 million from RM51.99 million due to a slowdown in orders caused by lower demand for home appliances electronics.

Ewe said the group expects “exciting times” come FY16 as earnings contribution from its property development starts rolling in.

Ewein Zenith will launch the City Of Dreams project in the middle of this year, with construction work to begin in the second half and completion within 48 months.

"We expect revenue contribution from the property development segment to outpace all other segment from FY16," said Ewe.

He sees Ewein Zenith reaping RM200 million in gross profit from the City Of Dreams project over four years starting from 2016.

"The land cost [for the 3.67-acre parcel] was RM133 million, while the total development cost is estimated to be more than RM400 million," he said.

Ewe is a substantial shareholder of Ewein, with a 43.05% stake.

Ewein shars closed unchanged at 60 sen last Friday, giving it a market capitalisation of RM126.56 million.

 

By Kang Siew Li & Chester Tay  Source: www.theedgemalaysia.com

 

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RM810mil GDV for Ewein’s project in Penang ...

Latest News 8/4/2015 It's the first property project on land alienated for massive Highway and traffic mitigation venture ...

RM800mil GDV for Ewein’s project in Penang

PETALING JAYA: The first property project on land alienated in relation to Penang’s massive highway and traffic mitigation venture will have a value of RM800mil.

Ewein Bhd and Consortium Zenith BUCG Sdn. Bhd. Will undertake the mixed development project on 3.67 acres in Bandar Tanjong Pinang.

In a filling with Bursa Malaysia yesterday, Ewein said that it was expected to start in the second half of this year.

Yesterday, the Penang Island City Council approved he building plans for the development on the parcel of land alienated to Ewein Zenith, a 60:40 joint venture between Ewein and Consortium Zenith.

The parcel forms part of the 110 acres of freehold land to be alienated by the Penang government to Consortium Zenith or its nominees as partial payment for construction works on the RM6.3bil mega project which includes a 6.5km undersea tunnel. Consortium Zenith is also allowed to collect toll for the undersea tunnel for 30 years.

Ewein did not reveal the specifics of the proposed development in its announcement yesterday, but it did mention broadly in a circular to shareholder dated June 12, 2014, that the development would be a combination of residential and commercial units.

The circular to shareholders named the consortium’s shareholders as Datuk Zarul Ahmad Zulkifli’s Zenith Construction Sdn Bhd with a 99.94% stake, China state-owned Beijing Urban Construction Group (BUCG)(0.02%), niche contractor Juteras Sdn Bhd (0.02%) and Sri Tinggi Sdn Bhd (0.02%). Past press reports had assigned different equity stakes to the consortium members, including a 10% stake each for BUCG, Juteras and Sri Tinggi.

Ewein Bhd, via unit Ewein Land, will pay RM79.8mil to Consortium Zenith for the 3.67acre land that has been valued at RM133mil (equivalent to 60% of the land value).

This marks the first property development project undertaken by Ewein, whose core business is precision and fabricated sheet metal manufacturing.

On the rationale for the diversification, Ewein said it was to mitigate any risk of dependency in its core business that fell within the electronics industry, "a competitive and rapidly evolving industry.":

The company said its proposed joint venture with Consortium Zenith was expected to result in a diversion of more than 25% of the net asset of the group to the property development business. According to the circular, the group envisaged that profit would be shared in accordance to the respective shareholding percentages of Ewein Land and Consortium Zenith in Ewein Zenith.

Consortium Zenith was awarded the feasibility studies and detailed design works for Penang’s largest infrastructure project following an agreement inked with the Penang government in October 2013. The project comprises a RM6.3mil integrated road transport and traffic mitigation project comprising 6.5km undersea tunnel, a 4.2km bypass from Gurney Drive to Tun Dr. Lim Chong Eu Expressway and Bandar Baru Air Itam, and a four-lane 12km road from Jalan Tanjung Bungah to Teluk Bahang.

 

By M. HAFIDZ MAHPAR  Source: www.thestar.com.my

 

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配合两岸三通计划, 明年建建筑工友大楼 ...

Latest News 13/2/2014 (槟城12日讯)配合耗资63亿令吉的"两岸三通"计划,Zenith BUCG 私人有限公司将于2015年 ...

配合两岸三通计划, 明年建建筑工友大楼

(槟城12日讯)配合耗资63亿令吉的"两岸三通"计划,Zenith BUCG 私人有限公司将于2015年初在槟岛兴建建筑工友综合大楼。

有关大楼占地万平方公尺,可为参与海底隧道计划的2000名工人,提供住宿及便利。

此外,Zenith BUCG 公司也于1月23日, 与大马建筑工业发展局属下的员工合作社,签署一项协议,为海底隧道及道路工程计划,提供劳工供应和管理服务配套。

这项协议由该公司主席拿督扎鲁与该合作社主席拿督海兹签署,由该公司执行董事李紫豪、合作社秘书拉祖基、大马建筑工业发展局主席祖丁阿都卡林见证。

扎鲁说,合作社在招聘及培训建筑工人方面,非常卓越。

"两岸三通计划需要一批高熟练和经验丰富的工人。"

他也说,Zenith BUCG公司已为两岸三通计划展开可行性调查和祥尽的工程设计,同时也进行环境影响评估工作。

 

Source: China Press

 

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Highlight - Consortium Zenith gets nine acres ...

Latest News 07/02/14 KUALA LUMPUR (February 7): Consortium Zenith BUCG Sdn Bhd has been granted some nine acres of land ...

Highlight - Consortium Zenith gets nine acres in STP1

KUALA LUMPUR (February 7): KUALA LUMPUR: Consortium Zenith BUCG Sdn Bhd has been granted some nine acres of land (3.64ha) on Seri Tanjung Pinang 1 (STP1), worth RM305 million, by the Penang government to finance the cost of the initial feasibility studies and detailed design (FSDD) works in the RM6.3 billion Penang undersea tunnel project.

Originally,the company was to get 110 acres for Seri Tanjung Pinang 2 (STP2) from the state government, plus a toll concession on the undersea tunnel, to fund the entire project. However, there has been a delay in the progress of STP2, which is to be reclaimed by developer Eastern & Oriental Bhd (E&O).

"We have spoken to E&O and they believe that the STP2 land will only be available two years from now. Thus, the state government is giving us nine acres on STP1 first," said Consortium Zenith's chairman Datuk Zarul Ahmad Zulkifli in a recent interview with The Edge Financial Daily.

He added that this is only a minor tweak to the original funding structure, as the company will still get about 100 acres for STP2, after the nine acres on STP1 were deducted from the amount.

According to Zarul, the nine acres on STP1 are worth about RM305 million, sufficient to finance the cost of the initial FSDD works for the mega-infrastructure project. The remaining RM6 billion is the estimated cost of construction, to build new roads and tunnels on Penang island, as well as the 6.5km undersea tunnel linking George Town and Butterworth which is the main component.

The RM305 million FSDD stage has been broken down into four phases. At each phase the consortium will inject 10% from its own money to fund the costs.

The first tranche of the FSDD will cost RM79 million, meaning Consortium Zenith will have to inject RM7.9 million from its own money. The capital injection was finalised last week, while the second tranche will be due in July and will require another round of capital injection of RM9.4 million (see chart for full timeline).

"For now we have no debts," Zarul said when asked how Consortium Zenith will finance the capital injection. "We will only start borrowing during the construction stage.".

The bulk of the RM305 million will be spent on the detailed design (DD) portion of the work - which is about 60% or RM180 million. Some 30%, or RM91.5 million, will go toward the feasibility studies (FS) while the remaining 10%, or RM30.5 million, will be used for the detailed environmental impact assessment (DEIA).

The FS is currently underway and Consortium Zenith expects to complete it in April. This is two months ahead of the expected completion in June.

"Once we have completed the FS we will present it to the state government that will have to endorse it. Only then do we call in the design team. The DD takes a long time and could easily take a year," said Zarul.

Consortium Zenith will then submit the DEIA which could take nine months to a year for approval.

At best, the consortium hopes to be able to begin construction on the major roads on the Penang Island at end-2015 or early-2016, said Zarul.

The first to be constructed will be a 12km dual carriageway from Tanjong Bungah to Teluk Bahang, followed by a 5km road and tunnel from Lebuhraya Tun Dr Lim Chong Eu to Ayer Itam, then a 4.2km road and tunnel from Lebuhraya Tun Dr. Lim Chong Eu to Persiaran Gurney Highway. The final phase will be the 7.2km George Town-Butterworth link of which 6.5km will be the undersea tunnel.

"For the RM305 million FSDD works, the state government has identified two parcels of land in STP1 for us," Zarul said.

"We are getting developers to come in and forward purchase [the STP1 land for us]. So what we are effectively doing is getting the developers to fund us (in the FSDD phase)," he added.

On Dec 24, Consortium Zenith entered into a joint venture (JV) agreement with Ewein Bhda's wholly-owned unit Ewein Land Sdn Bhd to develop the first 3.73-acre parcel of land on STP1.

"It is a 60:40 JV, so we will have to come out with 40% of the cash. For the first parcel, that is RM53.2 million on our part," said Zarul. This is based on the estimated value of the land at RM133 million.

The JV has proposed to undertake a mixed development on the seafront lot in Tanjong Tokong. The development will include high-end residential products, according to Zarul.

"The gross development value will range between RM700 million to RM1 billion for the 3.73-acre plot of land," Zarul said.

"We are providing a lot of comforts - dedicated lifts, accidents and emergency facilities, sky bar and limousine service among other things. We want to give five-star hotel service to the residents. In fact we are talking to a hotel operator to manage the project for us later on."

Consortium Zenith has yet to select a developer for the second 5.7 acre parcel on STP1, although it has already received proposals from a few developers.

The construction of the major roads and tunnels on Penang island, and part of the undersea tunnel is to be funded by the 100-odd acres Consortium Zenith is to receive on STP2. The undersea tunnel is also expected to be majority finance by the issuance of bonds backed by future toll revenue.

"We have already arranged to set up a Penang Real Estate Fund. This will be the anchor in which we have a host of local and international developers who will contribute funds for the development of the 100 acres," said Zarul.

According to him, instead of awarding smaller parcels to individual developers, the participating developers will collectively oversee its development.

"The fund will be managed by a local bank, which will disburse the money according to schedule," said Zarul.

Consortium Zenith plans to launch the fund at the end of the year

 

By Janice Melissa Thean Source: www.theedgemalaysia.com

 

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KoCiDB dipilih belak pekerja bina terowong bawah laut ...

Latest News 24/01/14 KUALA LUMPUR (January 24): KONSORTIUM Zenith BUCG Sdn Bhd, kontraktor bagi pembinaan terowong bawah ...

KoCIDB dipilih bekal pekerja bina terowong

KUALA LUMPUR (January 24): KONSORTIUM Zenith BUCG Sdn Bhd, kontraktor bagi pembinaan terowong bawah laut Georgetown-Butterworth dan jalan utama di Pulau Pinang bernilai RM6.3 bilion melantik Koperasi Staff CIDB (KoCIDB) sebagai pembekal pekerja dan pakej pengurusan projek.

Pengerusi Konsortium Zenith BUCG Datuk Zarul Ahmad Zulkifli berkata, KoCIDB dipilih membekal pekerja dan pakej pengurusan bagi projek tersebut kerana koperasi itu mempunyai kepakaran dan sistem berkesan terutama melatih pekerja, kebajikan dari aspek perubatan dan keperluan insurans.

"Kontrak itu sebahagian proses untuk memastikan projek pembinaan terowong bawah laut dan jalan utama berjalan mengikut jadual ditetapkan.

"Ketika ini Konsortium Zenith masih dalam proses melaksanakan kajian dan butiran mengenai reka bentuk projek dan ia dijangka diselesaikan April ini.

"Bagi mencapai status dunia, kita mesti bekerjasama dengan profesional yang mempunyai keupayaan diiktiraf serta mempunyai rekod baik dan kukuh," katanya.

Beliau berkata demikian pada majlis menandatangani perjanjian persefahaman antara Konsortium Zenith BUCG Sdn Bhd dengan KoCIDB di Kuala Lumpur, kelmarin.

Turut hadir, Ketua Eksekutif Lembaga Pembangunan Industri Malaysia (CIDB) Datuk Seri Dr Judin Abdul Karim dan Pengerusi KoCIDB Datuk Rohaizi Jusoh.

KoCIDB merupakan koperasi di bawah CIDB, iaitu badan ditubuhkan kerajaan untuk menyelaras keperluan industri, menangani dan menyelesaikan masalah industri serta mencadangkan dasar untuk industri pembinaan di negara ini.

Selain membekal pekerja dan pakej pengurusan, KoCIDB juga terlibat dalam pembinaan Kompleks Pekerja Bersepadu bagi projek itu. Kompleks yang bakal dibina itu menyediakan kemudahan lengkap untuk lebih 2,000 pekerja yang akan terlibat sepenuhnya dalam pembinaan terowong bawah laut sepanjang 6.5 kilometer.

Pembinaan kompleks itu dijangka dimulakan suku pertama tahun depan.

 

By Wartawan Sinar Harian Source: www.sinarharian.com.my

 

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Feasibility study on Penang undersea tunnel ...

Latest News 24/01/14 KUALA LUMPUR (January 24): Consortium Zenith BUCG Sdn Bhd expects to complete a feasibility study ...

Feasibility study on Penang undersea tunnel to be ready soon

KUALA LUMPUR (January 24): Consortium Zenith BUCG Sdn Bhd expects to complete a feasibility study on the controversial RM6.3 billion George Town-Butterworth undersea tunnel project in April, two months earlier than scheduled.

"We should be able to complete the feasibility study in April. We anticipate to start construction by end-2015 or early 2016," Consortium Zenith BUCG chairman Datuk Zarul Ahmad Zulkifli told reporters after the signing of a memorandum of agreement (MoA) between the consortium and Koperasi Staff CIDB (KoCIDB) here yesterday.

The study was originally due for completion in June.

Subsequently, the consortium will embark on a detailed design of the underground tunnel linking Penang island and the mainland as well as three major highway projects that will help ease traffic on the island.

The projects will involve a 12km dual carriageway from Tanjung Bungah to Teluk Bahang, followed by a 5km road and tunnel from Lebuhraya Tun Dr Lim Chong Eu to Ayer Itam and a 4.2km road and tunnel from Lebuhraya Tun Dr Lim Chong Eu to Persiaran Gurney Highway.

The final phase of the project will be the 7.2km Penang-Butterworth link, of which 6.5km will be the undersea tunnel.

Zarul said construction of the mega project will only begin after the consortium has obtained the Penang government's approval for the detailed environmental impact assessment on the project.

As part of preparations for the construction process, the consortium's MoA with KoCIDB is to supply and manage workers for the project. KoCIDB is a society under the Construction Industry Development Board.

While the value of the package was not disclosed, KoCIDB chairman Dr Rohaizi Mohd Jusoh said such labour supply and management packages usually cost about 25% of the total project value.

Based on the RM6.3 billion value pegged for the entire undersea tunnel plus major roads, the management package could be worth RM1.58 billion.

For starters KoCIDB will begin construction of the first Integrated Construction Workers Complex (ICWC) estimated to cost between RM10 million and RM15 million, by the first quarter of 2015.

We need the ICWC to be completed before we start construction [of the undersea tunnel project]," said Zarul.

The complex will span 14,164 sq m and will cater to a full range of amenities such as cafeteria, sports centre, clinic and supermarket for a 2,000-strong workforce.

Consortium Zenith BUCG, a special purpose vehicle established in July 2012, is a partnership between Zenith Construction Sdn Bhd, Sri Tinggi Sdn Bhd, Justeras Sdn Bhd, and two China state-owned conglomerates Beijing Urban Construction Group and China Railway Construction Corp.

 

By Janice Melissa Thean Source: www.theedgemalaysia.com

 

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Consortium Zenith to unveil Penang undersea tunnel ...

Latest News 23/01/14 KUALA LUMPUR (January 23): Consortium Zenith BUCG Sdn Bhd will annouce the results of the feasibility study ...

Consortium Zenith to unveil Penang undersea tunnel result project feasibility study

KUALA LUMPUR (January 23): Consortium Zenith BUCG Sdn Bhd will annouce the results of the feasibility study for the RM6.3bil George Town-Butterworth undersea tunnel and road projects by April, its Chairman Datuk Zarul Ahmad Zulkifli said today.

Consortium Zenith is currently undertaking the study and detailed design works concurrently with the environmental impact assessment, he told a media briefing after the signing of a memorandum of agreement (MOA) today with Koperasi Staff CIDB (KoCIDB).

KoCIDB is a cooperative under the Construction Industry Development Board, a statutory body established by the federal government.The MOA is for labour supply and a management package worth RM200 million to build the first local integrated construction workers' complex in Penang to house 2,000 workers who will be involved in the construction of the 6.5Km undersea tunnel project.

Construction of the complex is to begin by the first quarter of next year. - Bernama.

 

Source: www.thestar.com.my

 

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Undersea Project Feasibility To Be Known in April ...

Latest News 14/01/14 KUALA LUMPUR (January 14): Consortium Zenith BUCG Sdn Bhd expects to complete feasibility studies ...

Undersea Project Feasibility To Be Known in April

KUALA LUMPUR (January 14): Consortium Zenith BUCG Sdn Bhd expects to complete feasibility studies for the controversial RM6.3 billion Penang undersea tunnel infrastructure project and major roads in April this year, said its chairman Datuk Zarul Ahmad Zulkifli.

Consortium Zenith is a joint-venture between Zenith Construction Sdn Bhd and China Railway Construction Co Ltd, together with Beijing Urban Construction Group, Sri Tinggi Sdn Bhd and Juteras Sdn Bhd.

Zenith PMC Sdn Bhd, a unit of Zenith Construction, signed a joint-venture agreement with Astral Supreme Construction Sdn Bhd in September 2013 to carry out a feasibility study, design and environmental impact assessment (EIA) for the undersea tunnel.

"We should be able to complete the feasibility studies in April. At the moment, we're ahead of time. We're supposed to complete the feasibility studies by June but we're now bringing it forward," he told reporters after the signing a memorandum of agreement with Koperasi Staff CIDB Malaysia Bhd (KoCIDB) here yesterday.

He added that after the completion of the feasibility studies, it will also need to undertake the detailed design works.

"Things are still not defined until we complete the feasibility studies," Zarul added.

When asked if the undersea tunnel project is going to exceed its budget, he said it is a business risk that the company has to take but is being managed.

"Even if it (costs) overshoots, it would be the businessman's problem and not the state's problem. The state has capped it at RM6.3 billion, and we have to work within the RM6.3 billion," said Zarul, who remained mum on the financing of the RM6.3 billion project.

Consortium Zenith was awarded the contract for the mammoth project by the state government in March 2013. A contract to seal the deal however was only signed in October 2013 after protests from the public brought into question the viability of the project.

Earlier, Consortium Zenith signed a memorandum of agreement with KoCIDB for a labour supply and management package, estimated at some RM200 million, for the construction of the Penang undersea tunnel infrastructure project and major roads.

It is expected to start construction of the first local Integrated Construction Workers Complex (ICWC) by the first quarter of 2015, which will accommodate for an estimated 2,000 workers who will be involved in the construction of the 6.5km George Town-Butterworth undersea tunnel project.

Zarul said the construction of the complex is to be completed by end of 2015 or early 2016. The construction of the first phase of ICWC is estimated at RM10 million to RM15 million.

"ICWC will be working hand in hand with a consortium of KoCIDB which is financially sound and has the experience at building complexes of similar kind in the country," he said.

The complex is spread across a land area of 14,164 sq meters in Penang. It will provide a full range of amenities including housing, business conference centres, cafeteria, sports centre, recreational facilities, mosque, clinic and supermarket.

He said this is the first time KoCIDB, a society under the Construction Industry Development Board (CIDB), is participating in the supply of workers to a construction company and hopes this will be a template for other companies to follow.

KoCIDB has credentials and experience in recruiting and training certified labour for the construction industry. It has the resources, expertise, efficient systems and capacity to recruit and manage labour, and coordinate work permit, medical and insurance requirements.

 

Source: www.thesundaily.my

 

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Lim: Expressway to be completed before undersea tunnel is ready ...

News Release 07/10/13 GEORGE TOWN (October 07): Three expressways to ease traffic flow in the state ...

Lim: Expressway to be completed before undersea tunnel is ready

GEORGE TOWN (October 07): Three expressways to ease traffic flow in the state will be completed before the 6.5km undersea tunnel is ready.

This was revealed by Chief Minister Lim Guan Eng after the signing of a preliminary agreement for the construction of a few major traffic-related projects yesterday.

Under the state's comprehensive package of traffic management projects totalling RM6.3bil, the 12km Tanjung Bungah-Teluk Bahang paired road is scheduled to be ready by 2018, followed by the 4.6km bypass connecting the Tun Dr Lim Chong Eu expressway with Bandar Baru Air Itam by 2019, and the 4.2km bypass connecting Gurney Drive to Tun Dr Lim Chong Eu Expressway in 2022.

The tunnel connecting Gurney Drive and Butterworth's Bagan Ajam will be completed by 2025.

Lim said these projects would not only improve Penang's economy, but also benefit all Malaysians.

"Apart from the multiple job opportunities, the contractors are committed in awarding contracts to Malaysians, especially Pe--nangites," he said after inking the agreement with Consortium Zenith BUCG Sdn Bhd, China Railway Construction Corporation Inter-national (CRCC), and Beijing Urban Con-struction Group.

During the ceremony, Zenith also separately signed two agreements with CRCC related to detailed project design, engineering, materials procurement and construction of the tunnel and the three toll-free expressways.

Lim emphasised that although the agreement has been signed, these projects must comply with the recommendations for construction im-pact mitigation following detailed environmental impact assessments (DEIA).

For this, Penang would appoint an independent company to conduct the DEIA on the four projects.

Meanwhile, Lim added that Barisan Nasional must accept Pakatan Rakyat's offer to set up a three-person committee to implement reforms that will stop the abuses highlighted in the annual Auditor-General's Report.

According to him, only a high-powered committee, with the Deputy Prime Minister as chair, as well as the Opposition leader and the Auditor-General, would be able to "put fear into the hearts of those who betray the public trust given to those acting as a custodian of public funds".

 

By winnie yeoh Source: www.thestar.com.my

 

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Agreement on integrated road projects signed ...

News Release 07/10/13 GEORGE TOWN (October 07): It is all systems go for Penang's RM6.3 billion integrated road transport project ...

Agreement on integrated road projects signed

GEORGE TOWN (October 07): It is all systems go for Penang's RM6.3 billion integrated road transport project. The preliminary agreement for feasibility studies and detailed design (FSDD) works, which was signed yesterday, marks the beginning of a "long journey" for the state and concessionaire Consortium Zenith BUCG Sdn Bhd.

After much criticism and praise during the proposal stages early this year, the 12-year project marks a "long journey" that Chief Minister Lim Guan Eng hopes will end successfully.

"We have created history ... We hope the sweat and tears preceding the agreement will translate into success in 2025. Whether we fail or succeed, we will rely on Penang's ‘can do' spirit. We may not be here in 2025 but if this project succeeds, we hope our children will remember us," he said.

The concessionaire comprises China's largest government-linked company China Railway Construction Company (CRCC), construction powerhouse Beijing Urban Construction Group (BUCG), Juteras Sdn Bhd and Sri Tinggi Sdn Bhd which have teamed up in a joint-venture with Kuala-Lumpur based Zenith Construction Sdn Bhd to form the consortium led by chairman Datuk Zarul Ahmad Mohd Zulkifli.

It won the tender to build a 12km paired road between Tanjung Bungah and Teluk Bahang, a bypass each between Air Itam and the Tun Dr Lim Chong Eu expressway, and Gurney Drive and Tun Dr Lim Chong Eu expressway, and the 6.5km undersea tunnel connecting the island and the mainland.

The signing of the agreement was delayed till after the general election in May in order to obtain a mandate from voters.

Following the FSDD works for the three road projects, which will be carried out in the next 18 months, a state appointed consultant is expected to conduct a detailed environmental impact assessment (DEIA) on the entire project.

"These projects are subject to full compliance with the DEIA, failing which the FSDD will just end there. Of course we would not go ahead with a project that was found to be non-compliant. The DEIA consultant is answerable to us, therefore we will ensure that the projects are compliant. The fee for the appointment of the consultant has been factored into the project cost," Lim said.

On criticisms that DEIA was allegedly done in favour of the client, he said it was based on hypotheses, adding that the state will ensure the projects are compliant.

Earlier this year, several non-governmental organisations and Penangites had criticised the project, saying it would have a negative impact on the environment.

Lim, who attracted his share of brickbats, said the project would resolve the burgeoning traffic congestion on the island. He said mainlanders in Seberang Perai Utara would also be able enjoy an alternative route to the island via an undersea tunnel instead of the first and second Penang Bridge.

"The undersea tunnel project is not new. It was also proposed by the previous government. As for the roads, Penangites are generally supportive particularly where the bypasses are needed," he said.

Doubts were also raised as there would be no exchange of cash and traffic guarantees but a 44.5ha tract of land in Tanjung Pinang will be given to the consortium as a trade-off.

The consortium will also be allowed to collect toll on the undersea tunnel for 30 years, at a rate similar to the second Penang Bridge.

Lim said the land, that has yet to be reclaimed by Tanjung Pinang landowner Eastern and Oriental Bhd (E&O) based on a previous government deal, is subject to a separate DEIA conducted by E&O.

"It is a freehold land based on an agreement made by the former government. However, any development carried out on the land is subject to state and local authority regulations," he said.

(E&O will reclaim the remaining 299ha of land from Tanjung Tokong to Gurney Drive after the previous government is said to have sold the land at RM1 per sq ft in 1999. It has so far reclaimed and developed 97ha. According to the deal, E&O was required to handover 44.5ha to the state.)

During a press conference after the sigining ceremony, Lim was asked whether building roads is a solution to reduce congestion. He said it is an alternative as improving public transport is a federal matter.

He said the state is "willing" to continue engaging with the public but "still feels" the project is necessary to find a solution to traffic congestion, and the state government will not "sit down and do nothing".

Consortium charman Zarul, who said he put in "blood, sweat and tears" to secure the project and later endured heavy criticism from the public and the media, said: "We will accede to the state's requirements to train local companies and provide jobs in the course of the project so a Malaysian company will one day be able to bid for a tunnel project overseas."

The three agreements for the FSDD with the consortium, and engineering, procurement and construction with CRCC, and BUCG, builder of the "Bird's Nest" Olympic stadium in Beijing, were signed with the state.

 

By Sangeetha Amarthalinga Source: www.theedgemalaysia.com

 

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两岸三通一檳燧道工程檳与3方签初步协议 ...

News Release 07/10/13 (檳城6日訊)檳州政府今日和由本地及中國公司組成的財團Zenith BUCG有限公司簽署初步協議書 ...

两岸三通一檳燧道工程檳与3方签初步协议

(檳城6日訊)檳州政府今日和由本地及中國公司組成的財團Zenith BUCG有限公司簽署初步協議書,在未來1年半內為耗資63億令吉推行的"兩岸三通,一個檳城"計劃,展開可行性研究及工程詳細設計。

檳州首長林冠英今日在州財政司拿督莫達陪同下,和Zenith BUCG有限公司主席拿督扎魯阿末簽署協議。

他在簽署協議儀式上說,這項涉及3條大道和一座海底隧道的計劃,70%建築工程由中國鐵建負責,30%由北京城建集團負責。

他說,若此計劃順利展開,3條高速公路將從2018年起陸續竣工,海底隧道則在2025年落成。

他說,由于州政府以坐落在丹絨檳榔的110英畝填海土地(填海工程未進行)交換這項基建計劃,因此無需支付任何經費。

扎魯阿末說,儘管中國公司是總承包公司,但將選擇本地公司作為次承包商,藉此達到技術轉移和帶動本地公司成長。

與會者有Zenith BUCG有限公司執行董事李紫豪、中國鐵建國際集團(CRCC)主席卓磊、中國鐵建馬來西亞公司董事經理趙光明、北京城建集團(BUCG)大馬董事經理楊洪林,和一眾行政議員。

 

Source: www.chinapress.com.my

 

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"兩岸三通一檳"隧道工程-檳與3方簽初步協議 ...

News Release 07/10/13 (檳城6日訊)檳州政府今日正式與Consortium Zenith BUCG私人有限公司、中國鐵建國際集團有限公司(CRCC International Co.Ltd)、...

"兩岸三通一檳"隧道工程-檳與3方簽初步協議

(檳城6日訊)檳州政府今日正式與Consortium Zenith BUCG私人有限公司、中國鐵建國際集團有限公司(CRCC International Co.Ltd)、北京城建集團共同簽署初步協議書,讓總值63億令吉的"兩岸三通一個檳城計劃"公路隧道基建工程,展開可行性的研究與詳盡設計工作(FSDD)。

這項無涉及任何現金交易的計劃擁有4項龐大的基建工程。

110英畝填海地作交換

檳州首席部長林冠英在簽署儀式的新聞發佈會上說:"州政府雖然承諾以一塊110英畝的填海土地作為交換工程,但若任何一項工程無法符合環境評估的要求,州政府有權收回土地,並向有關工程喊停。"

他說,一旦研究報告獲得通過,州政府將根據施工比例撥給土地,"兩岸三通一個檳城計劃"也可以付諸施行。

他說,州政府在環境評估方面會嚴格把關,並委任獨立咨詢公司負責環境評估報告,並強調4項工程雖屬一個体制,但先符合要求的工程即先獲准施工。儘管如此,州政府尚未委任有關獨立咨詢公司。

他也說,這110英畝的填海土地隸屬州政府土地,而非中央,將來將以混合發展模式繼續運行。

他說:"主要基建工程將改善檳威兩地的連接,並協助威北的發展。"

中國鐵建負責70%工程

負責70%建筑工程的中國鐵建國際集團董事長兼總經理卓磊說,該公司是全球最大的工程承包商,每年完成的隧道工程長達1千300公里,及平均年入800億美元,中國第一條海底隧道也是該公司一手包辦,他對該項工程信心十足。

此外,Zenith BUCG公司主席拿督拿督札魯則承諾,將讓更多的本地承包商參與該項計劃。

出席者尚有檳州財政司拿督莫達、檳州交通及基本設施委員會主席林峰成、Zenith BUCG私人有限公司執行董事李紫豪、馬來西亞北京城建集團總經理楊洪林。

 

Source: news.sinchew.com.my

 

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"两岸三通一槟城"工程开跑 ...

News Release 07/10/13 (槟城6日讯)备受争议的"两岸三通一槟城"工程起步了! ...

"两岸三通一槟城"工程开跑

(槟城6日讯)备受争议的"两岸三通一槟城"工程起步了!

槟州政府周日正式与Consortium Zenith BUCG私人有限公司、中国铁建国际集团有限公司(CRCC International Co.Ltd),以及北京城建集团共同签署初步协议书,以进行可行性研究及详细工程设计(FSDD),这也意味着,堪称槟州史上最大型的计划已经跨出象征式的第一步。

耗资63亿令吉的"两岸三通一槟城"共有4个部份,计有3条主干公路及一条连接新关仔角及北海峇眼亚占的海底隧道,该隧道也是东南亚第一道海底隧道。

有关计划由本地及国际银行资助,承建资金方面则以"抵销"方式进行,即,州政府以斯里丹绒槟榔处依恩奥有限公司的110英亩地段来偿还。

另外,隧道的过桥费则与槟城第二大桥相同的过桥费方式经营,惟,仅30年的特许经营权。

尽管如此,Consortium Zenith BUCG私人有限公司主席拿督再鲁阿末祖基菲里表示,FSDD及环境评估报告等最初阶段工程得耗时1年半进行,一旦获得批准后工程才会动工。

出席见证的槟州首长林冠英也指出,工程将依据现有的条例下落实,其中落实与否也得依据环境评估报告为准。

据早前报道,中国铁建将会负责70%的建筑工程,而北京城建集团将负责30%的工程。据了解,中国铁建国际集团有限公司除了被评选为全球500强公司的第100强外,更是全球首承建工程排名中的第一名,每年在全球打造1300公里的隧道外,年收入也达800亿美元。

出席仪式的尚包括中国铁建国际集团有限公司董事长兼总经理卓磊,以及中国铁建(马来西亚)集团有限公司董事经理赵光明、Zenith集团执行董事李紫豪、北京城建集团执行董事杨洪林、代表州政府签署的州财政司拿督莫达,以及一众槟州国州议员。

 

Source: www.nanyang.com.my

 

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槟海底隧道签初步协议 ...

News Release 07/10/13 (槟城6日讯)槟州政府周日与Consortium Zenith BUCG私人有限公司签署"两岸三通 ...

槟海底隧道签初步协议

(槟城6日讯)槟州政府周日与Consortium Zenith BUCG私人有限公司签署"两岸三通,一个槟城"计划初步协议书,以进行可行性研究及详细工程设计,初步工程计划预计需要1年半完成。

2015年初才有结果

若 从现在推算起,初步计划会在2015年初才有结果。一旦获得批准,承包商将展开海底隧道及公路的初期工程。"两岸三通,一个槟城"计划包括12公路4条车 道的丹绒武雅至直落巴巷平行公路,预计2018年竣工、4.6公里亚依淡至敦林苍佑医生大道的快速大道和一条绕道,预计2019年竣工、4.2公里新关仔 角至敦林苍佑医生大道的快速大道,预计2022年竣工、6.5公里的海底隧道,预计2025年竣工。

再鲁:可行性是最重要环节

Consortium Zenith BUCG私人有限公司主席拿督再鲁阿末祖基菲里在签署初步协议书仪式上说,可行性研究及详细工程设计是整个工程计划最重要的环节,以确保能够达到相关要 求。他说,唯有完成初步工程后,并在环境评估被批准,建筑工程才会开始。再鲁说,该公司将努力确保这项工程的环境、社会及经济影响,将队槟州经济在促进投 资方面起着积极影响。

配合Consortium Zenith BUCG私人有限公司与州政府签署初步协议书,该公司也与中国铁建国际集团有限公司和北京城建集团签署两份协议书。中国政府拥有的跨国公司将负责详细工程 设计、工程、原料采购、海底隧道及高速公路建筑,上述两家中国公司与州政府签署协议书,为将于2025年竣工的4想高速公路和海底隧道工程的第一步。

中国2承包商将提供竣工保证

中国铁建将负责70%的建筑工程,北京城建集团将负责30%的工程,2家承包商将会提供整个工程的竣工保证。

贯穿槟岛北岸和威北地带

林冠英说,为公平对待威北民众,州政府决定兴建海底隧道,贯穿槟岛北岸和威北地带。

 

报道: 林英翰 Source: www.kwongwah.com.my

 

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檳政府與中國公司簽署 "一檳兩岸三通"協議 ...

News Release 07/10/13 (檳城6日訊)檳州政府週日與Consortium Zenith BUCG私人有限公司與中國鐵建國際集團有限公司(CRCC International Co.Ltd)...

檳政府與中國公司簽署 "一檳兩岸三通"協議

(檳城6日訊)檳州政府週日與Consortium Zenith BUCG私人有限公司與中國鐵建國際集團有限公司(CRCC International Co.Ltd)、北京城建集團共同簽署"兩岸三通,一個檳城"初步協議書,以針對63億令吉的高速公路及交通紓緩工程,進行可行性研究及詳細工程設計(FSDD),這項工程涉及3條主幹公路,以及一條連接新關仔角及北海峇眼阿占的海底隧道。

簽約儀式在檳州首席部長林冠英與中國鐵建國際集團有限公司(CRCC International Co.Ltd)董事長兼總經理卓磊的見證下完成。

Zenith BUCG私人有限公司主席拿督再魯阿末祖基菲里說,可行性研究及詳細工程設計(FSDD)是整個工程計劃最重要的環節。確保我們能夠達到相關要求。

"最初階段的工程計劃,預計將需要1年半,一旦獲得批准,我們將展開海底隧道及公路的初期工程。唯有完成可行性研究及詳細工程設計(FSDD),並在環境評估被批准後,建築工程才會開始。"

再魯說"我們將努力確保這項工程的環境、社會及經濟影響對檳州經濟在促進投資方面起著積極的影響。"

配合Consortium Zenith BUCG與檳州政府簽署初步協議書,該公司也與中國鐵建國際集團有限公司簽署兩份協議書。中國政府擁有的跨國公司將負責詳細工程設計、工程、原料採購、海底隧道及高速公路的建築。

上述兩家中國公司與檳州政府簽署協議書,為將於2025年竣工的四項高速公路及隧道工程的第一步。

中國鐵建將會負責70%的建築工程,而北京城建集團將負責30%的工程,他們將會提供整個工程的竣工保證。

"我們堅信,這項工程不只會改善檳州的經濟,也會讓全國人民受惠。"

林冠英說,除了無數的工作機會,承包商也承諾將工程合約頒給檳城人及大馬人。長期來說,我們也將從得獎及信譽良好的公司學習科技轉移,這將讓本地的承包商提昇他們的水平,競標本地、本區域及國際工程。

他說,這些主要的基建工程將能夠改善檳威兩地的連接,並協助威北的發展,這項平衡發展是為了讓威北有一個連接點,目前威中有檳城大橋連接,而威南有檳城第二大橋連接,實現"兩岸、三通、一個檳城。"

長達6.5公里的海底隧道,連接喬治市及北海,是東南亞第一個海底隧道,估計2025年完工,而檳島包括上述海底隧道及三條公路全長30公里,將重整交通。這項工程必須符合環境影響評估要求,三條高速公路將不會徵收過路費。

這項工程由本地及國際銀行資助。至於承建資金,檳州政府將以斯里丹絨檳榔2依恩奧有限公司的110英畝地段,以及30年的特許經營權,用與檳城第二大橋相同過路費,來經營海底隧道。

出席者尚有檳州財政司拿督莫達、Zenith BUCG財團私人有限公司執行董事李紫豪、馬來西亞北京城建集團總經理楊洪林、行政議員林峰成、彭文寶、章瑛,以及EWEIN有限公司創辦人兼董事經理拿督尤瑞慶。

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同時簽約4工程個別展開

林冠英受詢時說,這四項工程合約雖然是同時簽署,但它們的操作是個別的。

"若其中一項工程的"詳細環境影響評估報告"不通過,其他通過的工程,一樣可以個別展開。"

他說,州政府將以土地取代建造費,在以地交換道路的條件下,該公司要求以110畝土地,交換一條隧道和3條道路;州政府將會依據他們的進度進行交換,若其中一條道路不通過或沒有執行,也只會以比例同等的土地交換。

他提及,檳州政府會委任獨立的咨詢公司來進行環境評估報告,此工作目前還在進行中。

林冠英強調,建道路並不是新概念,但卻是需要的,而且人民也會支持。

"我們希望看到它實現,使檳城更蓬勃發展,不管成敗與否交由人民來評估。"

他說,在還未進行計劃前,州政府需確保參與工程的承包商是有能力、可信賴及有信用的,因為工程涉及63億龐大費用。

他強調,他瞭解再魯指展開這項計劃是有血有淚的,包括他受到某西報的誹謗,指他觸犯種種罪名,這是對他個人名望和家庭帶來很大的打擊,最終在他起訴對方後,已拿回清白。

"檳州政府在簽署前要確保他們誠實和廉潔,以最高的宗旨和標準來完成任務。"

 

Source: 光明日報

 

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Penang launches transport masterplan ...

News Release 25/03/13 GEORGETOWN (March 25) - The Penang state government has officially launched the Penang Transport Masterplan ...

Penang launches transport masterplan

GEORGETOWN (March25) - The Penang state government has officially launched the Penang Transport Masterplan.

The state government mooted the masterplan in 2009 to look into an integrated and holistic public transportation and road system involving the whole of Penang, including Seberang Perai.

In May 2011, the state had appointed AJC Planning Consultants Sdn Bhd, Halcrow Consultants Sdn Bhd and Singapore Cruise Centre to study the matter and some RM3.2 million, through the Nothern Corridor Implementation Authority, was funded into the research.

This resulted in the finalised Transport Master Plan Strategy, which comprises several suggestions to be implemented – short term (between now and 2015, medium term (2015-2020) and long term (2020-2030).

Recommendations listed in the masterplan include upgrading of existing highway networks, building new highways, works on the Georgetown Outer Bypass, improving pedestrian and cycling lanes, upgrading ferry services, introducing water taxis and a third sea crossing.

State Local Government Committee chairman Chow Kon Yeow said that with this masterplan, the state's public transportation system can be upgraded and made more efficient.

"It will enable Penangites to utilise public transportation and slowly migrate commuting from using private vehicles to using public transportation," he said.

Chow added that these efforts need to be carried out from now, as such efforts take time to bear fruit.

He said this in his speech during the launch of the masterplan by Penang Chief Minister, Lim Guan Eng.

Lim said that the proposed undersea tunnel, which is part of the RM6.3 billion project comprising of the 6.5km Pesiaran Gurney-Bagam Ajam undersea tunnel, the 4.2km Pesiaran Gurney-Tun Dr Lim Chong Eu Expressway bypass, the 4.6km Tun Dr Lim Chong Eu Expressway-Bandar Baru Air Itam bypass, and a four-lane 12km road linking Tanjung Bungah and Teluk Bahang, is timely to disperse traffic in the northern part of Penang.

"This link will act as a bypass, so that road users do not need to use the Penang Bridge or the Second Penang Bridge to get to the mainland," he said, adding that traffic congestion could be relieved during peak hours as well.

Lim also expressed hope that the masterplan would be able to facilitate achievement of the state's aim of 30% usage of public transportation by 2030.

"We hope that these recommendations can be carried out by all quarters, including the federal government and the Land Public Transportation Commission (SPAD) to make Penang an icon and an exemplary city in the eyes of the world," he added.

Copies of the masterplan can be obtained at the state local government office on Level 56 of Komtar at the price of RM30 each.

 

Source: The Sun

 

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Ewein acquires Menara IJM Land for RM50mil to diversify activities ...

News Release 23/09/11 GEORGETOWN (September 23) - Ewein acquires Menara IJM Land for RM50mil to diversify activities ...

Ewein acquires Menara IJM Land for RM50mil to diversify activities

GEORGETOWN (September 23) - EWEIN Berhad is buying Menara IJM Land for RM50mil from IJM Properties Sdn Bhd, a subsidiary of IJM Land Berhad.

In its announcement to Bursa Malaysia yesterday, Ewein said the expected total gross income per annum from the renting of the units and car parks comprising Menara IJM Land was about RM4mil per annum.

"The proposed acquisition will widen and diversify the business activities as well as provide an additional recurrent regular income stream for the group," according to the announcement.

Menara IJM Land, located on Lebuh Tunku Kudin, next to e-Gate commercial centre and Tesco hypermarket along the Tun Dr Lim Chong Eu Expressway in Penang, has a net lettable area of 94,413sq ft.

Of the total, 91,496sq ft is currently occupied, representing an occupancy rate of 97%.

Menara IJM Land, comprising a 16-storey building and a seven-storey car park, is located on a 46,823sq ft freehold site.

The acquisition is proposed to be funded through a combination of internally generated funds and bank borrowings.

The acquisition of the property is expected to be completed within three months from the unconditional date of the agreement as stated in the announcement.

Upon completion of the acquisition, Ewein will rent to the vendor the office units currently occupied by IJM Properties, as stated in the agreement, for a period of 10 years.

 

By David Tan Source: www.thestar.com.my

 

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EWEIN斥5千万 购槟IJM Land大厦 ...

News Release 22/09/11 (槟城22日讯)马交易所主板上市公司EWEIN有限公司 (7249,工业产品组)宣布以5000万令吉代价 ...

EWEIN斥5千万 购槟IJM Land大厦

(槟城22日讯)马交易所主板上市公司EWEIN有限公司 (7249,工业产品组)宣布以5000万令吉代价,收购IJM置地属下子公司IJM Properties的IJM Land大厦。

EWEIN 在9月22日提呈给马交易所的建设书指出,从包括IJM Land大厦在内的单位及停车场的出租中,预料每年将可带来约400万令吉的租金。

位于东姑古丁路的IJM Land大厦,与e-Gate商业中心及特易购霸级市场隔邻。它具有9万4413平方尺净可出租空间,其中9万1496平方尺目前已有租户,因此其出租率约达97%。

IJM Land大厦具有一幢16层高的建筑物及一座7层停车场,坐落在一片面积4万6823平方尺的永久地契土地上。

EWEIN宣布说,建议中的收购将扩大及多元化公司的业务,同时提供额外的固定循环资金给该集团。

该公司将通过内部融资及银行贷款来进行有关收购,预料收购行动将在3个月内完成。

完成收购后,EWEIN 将根据合约,把IJM Land大厦的部分办公楼单位出租给IJM Properties,为期10年。

上述收购尚有待EWEIN 在近期内召开股东紧急大会核准,以及政府当局批准转让地产。

 

Source: Kwong Wah Jit Poh and Quang Min

 

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Penang, China ink deal on Butterworth tunnel link ...

News Release 28/04/11 KUALA LUMPUR, April 28 — China signed a memorandum of understanding (MoU) with Penang ...

Penang, China ink deal on Butterworth tunnel link

KUALA LUMPUR, April 28 — China signed a memorandum of understanding (MoU) with Penang today on the possibility of building three road and tunnel projects in the island state that will alleviate traffic congestion there.

Penang Chief Minister Lim Guan Eng said today that a 6.5km tunnel linking Penang Island to mainland Butterworth is among the proposed projects with the Chinese state-owned contractor that built the iconic National Stadium in Beijing, popularly known as the Bird's Nest due to its design.

"We need to alleviate the traffic congestion as well as to improve links so you'll make the two halves of Penang into one," Lim told reporters today.

He signed the MoU this morning with Beijing Urban Construction Group Co Ltd (BUCG) chairman Liu Longhua. It was witnessed by Prime Minister Datuk Seri Najib Razak and Chinese Premier Wen Jiabao.

BUCG constructed the iconic stadium that hosted the Olympics in 2008, which is now slated to become a shopping and entertainment centre.

The construction conglomerate is one of the top 500 Chinese enterprises and has a total assets value of US$5.3 billion (RM15.9 billion) and an annual turnover of US$5.7 billion.

"This will be a major infrastructure project for Penang," said Lim.

The proposed Penang-Butterworth tunnel, which will be the third link between the island and mainland, stretches from Gurney Drive in the island's northeast to Butterworth on the mainland.

He said the other two proposed road projects are a 4.2km by-pass between Gurney Drive and the Tun Dr Lim Chong Eu Expressway, and a 4.6km by-pass between that expressway and Bandar Baru Air Itam.

The Penang CM declined to reveal the cost of the projects, saying: "I need to get permission before I release the memorandum."

He added that the projects would have to go through an open tender that will be called at least six month at the earliest. "We want other companies to bid for the proposed projects too," Lim told The Malaysian Insider.

Wen, who is on a two-day visit to Malaysia, and Najib witnessed the signing of eight bilateral agreements between the two countries today.

These include mutual recognition of higher education qualifications and strengthening economic and trade co-operation, as well as the MoU with BUCG.

BUCG specialises in the design and construction of industrial and civil works, metro, expressway, deep foundation, airport, long-distance pipeline works, and real estate development and capital operation.

This is Wen's second visit to Malaysia after he attended the first East Asia Summit and the ninth Asean-China Summit and Asean Plus Three Summit in 2005.

 

By Boo Su-Lyn Source: themalaysianinsider.com

 

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