Penang Records RM12.5 Million In Parcel Rent Arrears
GEORGE TOWN, June 15 (Bernama) -- Penang recorded RM12.5 million in parcel rent arrears involving more than 70,000 strata parcels as of June 1, according to State Land and Mines Office director Dr Faizal Kamarudin.
He said the majority of the arrears dated back to 2019, when parcel rent payments were first introduced for strata development schemes in the state.
Faizal said the Timur Laut district recorded the highest amount of arrears, involving 32,000 accounts.
'Failure to pay the arrears immediately may result in the issuance of a Notice of Demand via Form 11 under the Strata Titles Act 1985 to the parcel owners involved,' he said in a statement today.
He added that if the strata parcel owner failed to settle the arrears in full within three months from the date the notice was issued, confiscation action could be taken under Section 23 of the same Act.
Faizal said the enforcement action could be carried out by the land administrator, and ownership of the strata parcel would be transferred back to the state authority.
Therefore, he urged all parcel owners involved to settle their parcel rent arrears immediately to avoid confiscation action.
Strata parcel owners with further enquiries may contact the Penang Land and Mines Office or the respective District and Land Offices.
--BERNAMA
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Barnama
19 minutes ago
- Barnama
Gold Futures Ease As Global Risk Sentiment Improves
By Nurunnasihah Ahmad Rashid KUALA LUMPUR, June 16 (Bernama) -- The gold futures contract on Bursa Malaysia Derivatives ended lower on Monday as global risk sentiments improved, said an analyst. SPI Asset Management managing partner Stephen Innes said gold traded softer throughout the day, even after the weekend's Israel-Iran escalation sent it higher at the open. He said the decline came as markets reassessed that the immediate threat - oil supply disruptions - now seems unlikely, so both gold and crude were unwinding some of that geopolitical risk premium. 'Risk-on flows have taken the edge off haven demand, and for now, gold is tracking oil more than US Treasuries. Still, with the US Federal Reserve meeting and the Group of Seven (G7) finance ministers gathering in Canada, this week's macro calendar is stacked, and volatility should stay elevated,' Innes told Bernama. He said gold is expected to swing within a wider band between US$3,375 and US$3,475 per troy ounce, with dips likely to find buyers amid US dollar weakness and persistent concerns around the ballooning US fiscal deficit. The spot-month June 2025 contract eased to US$3,425.2 per troy ounce from Friday's US$3,430.2, while the July 2025 note dropped to US$3,433.7 from US$3,438.7 previously. The August, September, and October 2025 contracts dipped to US$3,453.2 per troy ounce from US$3,458.2 on Friday. Trading volume fell to 25 lots versus 56 lots on Friday, while open interest improved to 61 contracts from 50 contracts. Physical gold was priced at US$3,435.35 per troy ounce, according to the London Bullion Market Association's afternoon fix on June 13.
Barnama
20 minutes ago
- Barnama
37 CEMI Applications Received As Of June 12
SANDAKAN, June 16 (Bernama) -- The Concert and Event in Malaysia Incentives (CEMI), a financial rebate initiative introduced by the Communications Ministry through MyCreative Ventures (MyCV) on May 15, has received 37 applications as of June 12, said Deputy Communications Minister Teo Nie Ching. She stated that the government had allocated RM10 million for CEMI to boost the local creative industry through strategic partnerships in concert and event management nationwide. 'I strongly encourage industry players, especially those in Sabah, to take this opportunity and apply for the incentive before the application deadline on July 10, 2025. 'CEMI covers two types of applications for concerts and events featuring international or local artistes. The incentive aims to support the organisation of large-scale concerts and music events for 15,000 people and more,' she told reporters after opening the 'Ask Me Anything' road tour for the 2025 Creative Content Fund (DKK) – Music Industry by MYCV here today. She noted that the growth of the concert industry in Malaysia has generated significant returns for the country, prompting the introduction of the incentive. 'In 2023, a total of 335 international concerts were held in Malaysia, contributing over RM498 million to the national economy. In 2024, this number rose to 408 international concerts, generating RM553 million in returns,' she said. Meanwhile, Teo urged the arts and creative community in Sabah and Sarawak to apply for the DKK provided by the government as part of efforts to develop a competitive and impactful music industry. 'The government has allocated RM6.3 million for DKK. Three DKK programmes are being actively implemented, including the Music Performance Fund, which is open for applications until June 30,' she said, adding the deadline for the International Marketing and Promotion Fund and the Domestic Marketing and Promotion Fund is on Dec 1.
The Star
26 minutes ago
- The Star
Ringgit rises against US dollar amid heightened uncertainties
KUALA LUMPUR: The ringgit ended higher against the US dollar, supported by a weaker US Dollar Index (DXY) which fell by 0.21 per cent to 97.979 points amid heightened uncertainties, an economist said. At 6 pm, the local note appreciated to 4.2370/2450 against the greenback from Friday's close of 4.2435/2480. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the ongoing military conflict between Israel and Iran continues to dominate market attention at a time when investors are bracing for the upcoming US Federal Open Market Committee (FOMC) meeting, scheduled for June 17-18. "Euro, British pound and Swedish krona were gaining against the greenback, while emerging market currencies were mixed with dollar-ringgit oscillating within a tight range. "The USD/MYR started off in the morning session at RM4.2513 but later in the day appreciated towards RM4.2450,' he told Bernama. He noted Brent crude oil is currently hovering around US$73.84 per barrel suggesting that the crude oil market is fairly calm today compared to last Friday where it hit around US$77 in the intraday session. "Expect market sentiments to be guarded as they observe how the military conflict would evolve,' he said, adding that the downside risks to growth are clearly visible. Mohd Afzanizam said that this week's FOMC meeting will be critical as to how the US Federal Reserve would navigate such challenges along with weak fiscal position by the US government and disruptive trade policies adopted by the current administration. At the closing, the ringgit traded higher against a basket of major currencies. It rose versus the Japanese yen to 2.9397/9455 from 2.9448/9482 at Friday's close, but weakened against the British pound to 5.7555/7664 from 5.7482/7543 and decreased vis-à-vis the euro to 4.9077/9170 from 4.8906/8958 previously. The ringgit was mixed versus its ASEAN counterparts. It improved versus the Thai baht to 13.0389/0696 from 13.0807/1018 at Friday's close and gained against the Philippine peso to 7.51/7.53 from 7.55/7.56. However, it fell against the Singapore dollar to 3.3102/3167 from 3.3077/3118 and edged down vis-a-vis the Indonesian rupiah to 260.4/261.1 from 260.2/260.6 previously. - Bernama
