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Wait, stop speculating. Reclamation for PTMP is NOT confirmed

As everyone has read and talked and even speculated about all the potential happenings in the Penang Transport Master Plan, the Gamuda-led SRS consortium finally said something. Earlier article here: Penang: PTMP, new airport, catalyst till 2050  Gamuda group managing director Datuk Lin Yun Ling said that the reclamation plan is still very far away. In fact the proposal for the reclaimed land as an asset for the state to raise funds for the timely delivery of the project may or may not happen. It said that the next thing is to get the public consensus first via a public display. SRS consortium is now starting a comprehensive impact studies on the society, environment and cost and this should be completed in the next 6 months. Once these are ready, it would be displayed for the public’s feedback.
After all these are done that the payment structure would be discussed. In other words, if risks outweighs the benefits and public is against it, perhaps the plan may be changed. “It will all depend on public support,” Gamuda group managing director Datuk Lin Yun Ling told the press after its AGM and EGM yesterday. Lin said that the company understood the perception of way too many reclamation and thus the company would practise great transparency in its studies and public engagement. Two reclaimed plots known as South Reclamation Scheme would include areas spanning 930ha and 445ha. There is a third plot of 323ha identified as well but is for future demand for land activities.
I like Lin’s brief explanation on the concept. “You will only need to expand on the light rail transit Pan-Island Expressway linking Bayan Lepas to Tanjung Bungah. This is supposed to take development away from the saturated Georgetown and make development on the island more sustainable, at least, in the next 50 years.”
I believe it’s time Penang has the next catalyst after the important second bridge and UNESCO Heritage city status. Besides with the jam getting worse, there’s not a lot of time to waste. The current Penang international airport is also nearing its maximum capacity and unfortunately, building an airport from scratch CANNOT take just 2-3 years when the land for it to be built has yet to even be reclaimed. I hope the public would weigh the benefits versus the impact to the environment carefully. I would rate some minor impacts as avery small ‘investment’ so that Penang can grow for the next 50 years. Happy investing.
written on 8 Dec 2015
Next suggested article: PTMP: Reclamation alone is RM7 – 8 billion

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Charles Tan The Founder The Writer Kopiandproperty
Charles Tan

Charles is Founder of kopiandproperty.com He writes from his investment experience for the the past 20 years in investments including property, stock, unit trust and more as well as readings and conversations with many property gurus in the industry. kopiandproperty.com is an independent property blog which is not affiliated to any media company, property developer or even real estate agencies.

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0 Responses

  1. Hi Charles,
    Thanks for the interest in Penang all the time. Truly I think Penang island itself has already reached its maximum capacity in term of land use.
    As a Penangite myself, I support the reclaimation land for the following reasons:-
    1. Land swap for transportation development – we are fortunate as Penang land is very valuable, if not, how to fund this project without federal gov support
    2. Potential industry expansion on the reclaimed land
    3. Potential expansion of airport
    4. Housing development in new reclaimed land – as Penangite, asking around, if got choice, priority will still be island, though most of my friends have started moving to mainland
    5. Can have proper town planning in new reclaimed land
    6. State government land bank increase – can use for education, prototype for testing out urban planning, recreation purpose etc
    7. LRT truly is a good investment, it saves cost in transportation next time – for Penang people
    I do not know the environment impact of such reclaimation, but I’m sure it will surely have, we Penangite has to weigh the pro & cons of such reclaimed. Really not merely object because others are objecting.
    I also aware the stance of DAP on the reclaimed issue, before & after become government. But what to do, we have to face reality. We cannot develop hilly area, we cannot reclaim land, we cannot develop transportation plan – eventually we will be left behind.
    Yup, we need catalyst. I do hope the project will be transparent enough and government will do the right thing for people future, not for people vote in short term period.
    P/S: We people must stand behind a pro people government, as this project still needs federal government approval. It’s not so easy as thought.

    1. Thanks Shuner. Good views with really strong supporting points too. I am always pro-development as long as it already comply with the impact assessments etc. Use facts, not political rhetorics. Anyway, as long as the people are objective, the government of the day has to do the right things. Hopefully, people start thinking of the nation and people instead of the political party. Today, when someone likes one particular political party, even if that party sends a totally useless guy as candidate during election, the people would still vote him. We still need to improve lots of stuffs for our country, Malaysia. Imagine if in the next election, we only vote for professionals from the corporate world and not the usual loyal party man, that would be WOW. Sorry, I am still dreaming.

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