CONGRATULATIONS TO ALL MALAYSIANS!!!

CONGRATULATIONS TO ALL MALAYSIANS WHO ALLEGEDLY THINK THEY ALREADY MATURED TO DECIDE IN RECENT ELECTION FOR THE SAKE OF NEW DAWN OF MALAYSIA. HERE ARE YOUR FIRST 'VERY GOOD' IMPLICATIONS. WELL DONE GUYS!!!!


Tuesday March 11, 2008

MARKET BOGGED DOWN BY CONCERNS
New Analysis by Joseph Chin

AS investors brace for more bad news from the United States over an imminent recession, Barisan Nasional’s shocking loss added more gloom to the market, sending the KL Composite Index (KLCI) to a 12-month low of 1,173.22 points.

The stock market suffered its biggest loss in its history yesterday, with the KLCI plunging 123 points, or 9.5%, in its worst one-day performance since the Asian financial crisis when the 100-stock index tumbled 95.59 points to 349.56 on Sept 8, 1998.

Of course, the weak Asian markets, which recorded losses of between 1.04% and 4.84% yesterday, also added to the pall over the local market.

Foreign selling on worries over the country’s political future triggered the broad sell-off on Bursa. The loss of Kedah, Penang, Perak and Selangor to the opposition also cast doubts over the fate of the major infrastructure projects slated to be implemented in these states.

There were concerns over whether the Equine Capital Bhd-initiated Penang Global City Centre and the Penang monorail project, led by Malaysian Resources Corp Bhd (MRCB) and Scomi Engineering Bhd, would be implemented. Equine lost more than half its value when its share price plunged 72 sen to 71 sen while MRCB fell 66 sen to RM1.27.

The projects are also part of the Federal Government-initiated Northern Corridor Economic Region, covering Penang, Kedah and Perak.

Investors sold down shares in Kumpulan Perangsang Selangor Bhd, JAKS Resources Bhd and also Puncak Niaga Holdings Bhd on worries that the Pahang-Selangor water transfer project could be affected by the impending change of government in Selangor.

Government-linked counters also came under selling pressure, with Sime Darby Bhd, Bumiputra-Commerce Holdings Bhd, Tenaga Nasional Bhd, Bursa Malaysia Bhd and Telekom Malaysia Bhd among the major losers.

Does the selldown offer any buying opportunities at current levels, especially after RM86.16bil was wiped out from the market capitalisation yesterday?

Fund managers believe the market is oversold, which could mean there are buying opportunities in plantation counters, given that crude palm oil prices are still above RM3,000 per tonne, and these companies are also well-managed and fundamentally strong.

They expect a mild rebound after the heavy sell-off, provided there are no untoward incidents.

However, the caveat is that Malaysia’s political scenario is still fragile while external issues including the US credit market crisis and imminent recession will keep investors on the sidelines at least for a few weeks.

As the head of institutional dealing at a local bank-backed brokerage puts it: “It's like a falling knife; you won’t know when to catch it.”

Source: The Star Online

Simbol Keangkuhan Golongan Elit di Pulau Pinang

Simbol keangkuhan golongan elit di Pulau Pinang

Gambar diatas adalah gambar pembinaan pondok keselamatan (guardhouses) yang dibina tanpa kebenaran pihak berkuasa oleh penduduk di kejiranan Jalan Jesselton dan Lengkok Jesselton iaitu sebuah kejiranan elit di Pulau Pinang.

Jalan tersebut merupakan laluan awam dan bukannya milik pihak atau golongan tertentu.

Menurut artikel yang keluarkan oleh NST, didalam buletin Persatuan Penduduk Jesselton mereka dinyatakan bahawa mereka ingin mengisytiharkan kawasan mereka sebagai 'zone selamat' untuk keselesaan mereka sendiri.

Sebelum ini mereka beria-ia melaungkan 'keprihatinan' mereka tentang akauntabiliti, ketelusan dan 'respect for the law' yang membabitkan projek pembangunan Penang Global City Centre yang kebetulan pula berhampiran dengan kejiranan mereka.

Nampaknya mereka bukanlah benar-benar 'prihatin' tentang projek tersebut. Sebaliknya mereka mementingkan diri dan status mereka. Mereka mahu kerajaan lakukan apa yang mereka mahu sebaliknya mereka sendiri tidak mempraktikkannya dengan baik.

Sumber:
http://www.nst.com.my/Current_News/NST/Wednesday/NewsBreak/20080123101726/Article
http://www.nst.com.my/Current_News/NST/Thursday/National/2140256/Article
http://www.nst.com.my/Current_News/NST/Saturday/National/2142049/Article

Top 9 Unique Structures Soon To Be Built

Top 9 Unique Structures Soon To Be Built

Obviously, construction technologies are advancing extremely quick. With multi-billionnaires/deep-pocketed companies trying to outdo each other in the quest for the next standout design and you have a near-future filled with mile-high skyscrapers and buildings that no longer look like buildings.

Below are 9 strange and unique structures which have either been approved or are in the final stages of approval. Some have already been partially constructed.

Welcome to the future landscape.

1. Aqua, USA (Website)

This skyscraper is to be completed in 2009 in chicago, will seem quite traditional. It’ll only be special when you get close and look up, then you will see the ripple/jelly effect created by variously sized balconies from top to bottom.

2. Chicago Spire, USA (Website)

The phenomenal chicago spire, when completed in 2010, will be the world’s tallest residential building and the tallest building of any kind in the western world. Seemingly modelled on the image of a giant drill poking through the ground, the 609m structure will dominate the chicago skyline.

3. CCTV Headquaters, China (Website)

At a modest 234m the CCTV building isn’t going to stand out from a distance. However the design and shape is a crowdstopper to say the least and will be another incredible addition to Beijing’s skyline in time for the 2008 Olympics. The shape, described as a ‘Z Criss-Cross’ results in a very high, seemingly unsupported corner at the front. Let’s hope there’s a glass floor up there.


4. Regatta Hotel, Jakarta (Website)




Taking on a nautical theme, the developers say the 10 smaller towers represent sailing boats whilst the larger building is ‘the lighthouse’. It’s the lighthouse that steals the show for me, possibly the most incredible looking structure I’ve seen for a long time. If it ends up looking anything close to these pictures I’ll be impressed.

5. Residence Antilia, India (Architects’ Website)



Construction has begun on Residence Antilia despite opposition from those who see it as an ‘excessive’ design in a city where more than 65% of the population live in slums. Politics aside and after you recover from the initial shock of seeing a skyscraper that resembles an IKEA CD rack, the building actually looks like it may succeed as a stunning, unique, green piece of architecture.


6. Russia Tower (Architects’ Website)




Topped with an observation deck over the city of Moscow, Russia Tower will become the tallest building in europe when completed in 2012 and twice the height of the Eiffel Tower. Construction has already started on this angular beast which was designed by foster & partners, also responsible for the gherkin and spaceport America, currently in development.


7. Penang Global City Centre, Malaysia (Website)




Following months of speculation and sturdy opposition, this humungous project is in the final stages of approval and apparently construction will start very soon. Even so, due to the size of the plan it will take at least 15 years to complete. resembling a sci-fi city, the area will be crowned by 2 x 200m towers and completely transform the small island of Penang.


8. Gazprom Headquaters, Russia (Architects' Website)

This gigantic, 300m tall glass flame of a building will house the Gazprom Headquarters in St. Petersburg, dwarfing all structures in its vicinity. It will apparently change colour up to 10 times per day depending on the position of the sun. The building has already been nicknamed ‘Corn On The Cob’ by unhappy locals.

8. Burj Dubai, Dubai (Website)

This is the big one. When completed next year it will be the tallest man-made structure in the world and the tallest building by a long shot with a predicted height of 818m. Note: Currently the tallest building on earth, excluding an antenna, is Taipei 101 in Taiwan which stands at 509m. the photo below is the building’s current state: The skyscrapers below the Burj Dubai used to look tall.

The picture below shows the proposed height of the Burj Dubai compared to some other well known tall buildings.



I wonder how tall a building can be, are there any limits? What human can build in the future? What can we see in the next 20 years? A building that can transform and move from one place to another? No one knows.

SOURCE

Abad Naluri promises to abide by directives

GEORGE TOWN: The developer of the RM25 billion Penang Global City Centre (PGCC) has pledged to abide by all government processes and directives outlined for the project.
Abad Naluri Sdn Bhd director Datuk Patrick Lim said the company would instruct its consultants to review the development plans and adhere to the recommendations and views of the Penang Island Municipal Council.

"We thank the Penang government for the prompt response to our plans to redevelop the existing Penang Turf Club site into the PGCC," he said in a statement. Lim, who is also Equine Capital Bhd executive chairman, said "it is our intention that the project not only complies fully with all statutory requirements but also that it will be beneficial to all stakeholders"."We value and respect the points of views raised by the public."

Meanwhile, the PGCC Campaign Group, a coalition of non-governmental organisations, welcomed the chief minister's statement to review and scale down the project.

Source

Reach for the skies

IF history is a reliable indicator of things to come, then Malaysia’s latest mega-project is off to a good start.

As with the Kuala Lumpur City Centre, the Penang Global City Complex is in the right place, in the heart of the Pearl of the Orient.

As with the KLCC in Kuala Lumpur, the land where Penang’s Turf Club now sits is among the most valuable on the island. And Penang, after all, has real limits on its physical expansion.

When the biggest consideration — location — is taken care of, the chances of success surge. Less well-placed comparisons abound. Take Cyberjaya, the KLCC’s counterpart at the other end of the Multimedia Super Corridor. Or Nusajaya, only now getting its second wind with the Iskandar Development Region after the letdown of the hype of the Second Link.

But let’s not compare with laggards, but benchmarks. The KLCC has been an astounding success; a showcase for the capital and the country, much of it probably due to securing Petronas in a central role as developer. It brought Malaysia to the world’s notice as the country with the world’s tallest buildings for more than seven years.
The cachet of the Petronas Twin Towers has made it the address in the country and propelled rental rates far above what most office building owners can dream of charging.

To live in the vicinity of the KLCC park means buying a million-ringgit luxury condominium. The surroundings and the facilities have made it an ideal place to work and play.

So the PGCC has big shoes to fill, and the promoters a big game to play. Inevitably, there will be detractors; those who will doubt it will succeed, who will ask if there is any corporation big enough to play Petronas’ role, who will ask if there will be enough demand for the floorspace.

Just as there were those who believed the Twin Towers would collapse under their own weight into the limestone cavern under the site; that it would not be finished on time; that its almost four million square feet of space would remain empty.

They were wrong — but only because KLCC did it right. Everything from the design to planning and engineering, management, and positioning, was exemplary. Being a mega-project did not mean that it could never succeed, just that they had to plan for it.

The ones that have failed did not have as sound a plan. Indeed, they ignored some of the most basic lessons in real estate.

Source

Assurance over global city project

By : Sharanjit Singh


Datuk Patrick Lim leaving the Penang Island Municipal Council building after a closed-door meeting with residents who had raised queries about the project.
Datuk Patrick Lim leaving the Penang Island Municipal Council building after a closed-door meeting with residents who had raised queries about the project.

GEORGE TOWN: The RM25 billion Penang Global City Centre (PGCC) project will abide by all guidelines, requirements and by-laws.

Equine Capital Bhd executive chairman Datuk Patrick Lim, who gave the assurance, said whatever concerns raised about the project by residents would be dealt in a systematic and proper manner.

He said the company had been transparent about the project right from the time it bought the Penang Turf Club land in 2002.

“I know that the PGCC is one of the most scrutinised projects and we have gone through every step of due process and further.

“We have nothing to hide and everything is on show. It is not like we are building a waste treatment or a nuclear plant at the PGCC,” he said.
Lim also allayed fears about the density of the PGCC project and said the company had engaged consultants to address the issue.

“We hear, understand and respect the concerns that have been raised.

“We will address them and not take the easy way out … This is our commitment,” he said, adding that the infrastructure and public amenities at the PGCC would be put in place from the beginning to deal with the density issue.

On concerns that many old trees in Jalan Scotland would have to be felled, Lim said he was mindful of Penangites’ love for trees and everything would be done to preserve them.

“We have planned for the expansion of the road in such a way that it will cut into our land to avoid felling the trees,” he said.

Lim was speaking after attending a two-hour closed-door meeting with some 16 representatives from the Residents Association of Jesselton (RAJ) and Penang Island Municipal Council (MPPP) president Datuk Zainal Rahim Seman.

The meeting was arranged following concerns raised by the residents, who would be directly affected by the project which will be right at their doorsteps.

Representatives from several non-governmental organisations (NGOs) here, including those from the Consumers Association of Penang, Penang Heritage Trust and Malaysian Nature Society, had also turned up at the MPPP building but did not attend the meeting.

The NGO representatives claimed that the project was being steamrolled through and imposed on Penangites without an open public consultation.

RAJ secretary Datuk Kee Phaik Cheen said while residents did not object to development, questions were being raised about the scale of the PGCC development.

The PGCC project will be carried out by Equine’s associate company, Abad Naluri Sdn Bhd.

It is being marketed as one of the world’s first zero-carbon cities where pollution will be kept to a minimum. The site will contain two iconic towers.

Source

Nod for RM25b plan soon

By : Phuah Ken Lin

GEORGE TOWN: The blueprint of the RM25 billion Penang Global City Centre (PGCC) is expected to be given the green light by the authorities next month.

Penang Island Municipal Council president Datuk Zainal Rahim Seman said the developer of the project had submitted the layout plans recently.

“In view of the size of the project, it will take some time for our building department staff to thoroughly vet the plans,” he said after attending the launching of the council’s new slogan “Excellence is Our Culture” and an information booklet on its operations.

In his speech, Zainal urged council staff to keep abreast on building guidelines of complex development projects such as PGCC and Penang Outer Ring Road.

Zainal also lauded the zero carbon emission concept of PGCC, adding that he planned to make it a pre-requisite for future projects.

“The idea of making the surroundings pollution-free should be emulated by developers of all massive projects,” he said.

The project, to be undertaken by Abad Naluri Sdn Bhd, will be built on the existing 104ha Penang Turf Club land in Batu Gantong here.

The land has been acquired by Abad Naluri, an associate company of Equine Capital Berhad for RM488 million from Penang Turf Club in 2002 and will take 15 years to complete the project.

It will house two iconic towers, a performing arts centre, upscale retail shopping outlets, a convention centre, high-end condominiums and parks.

Under the master plan, Abad Naluri’s proposed Central Park and Penang Hill will be linked by pathways to the existing Municipal Youth Park and Botanic Gardens to form an enlarged public park — the Penang Metropolitan Park.

The project was launched by Prime Minister Datuk Seri Abdullah Ahmad Badawi at the Equatorial Hotel here on Wednesday.

Source