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Setia SPICE Arena is a multi-purpose arena located in Penang, Malaysia. It was officially opened in November 2016 and features a seating capacity of 15,000. The arena is designed to host a wide range of events, including concerts, sports events, and conferences.

The arena was developed by SP Setia Berhad, one of the largest property developers in Malaysia. The project was part of the company's larger development plan for the area, which includes the construction of a shopping mall, hotel, and office buildings.

The arena is equipped with state-of-the-art facilities, including a large LED screen, an advanced sound system, and VIP seating. It has also been designed to be environmentally friendly, with features such as solar panels and rainwater harvesting.

References:

"SP Setia unveils Setia SPICE Arena" (The Edge Markets, 2016)

"Penang's Setia SPICE Arena a boost for tourism" (New Straits Times, 2016)

"Setia SPICE Arena: A new landmark for Penang" (The Sun Daily, 2016)

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How does the Setia SPICE Project relate to Sustainable Engineering?

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Setia SPICE Arena is designed to be an environmentally friendly building, incorporating sustainable engineering practices. Some of the sustainable features included in the arena are:

Solar panels: The arena is equipped with a solar panel system that generates electricity for the building's internal lighting, air-conditioning, and other systems.

Rainwater harvesting: The arena has a rainwater harvesting system that collects and stores rainwater for reuse in the building's toilets and irrigation systems.

Energy-efficient lighting: The arena uses LED lighting throughout the building, which is more energy-efficient than traditional incandescent or fluorescent lighting.

Green roof: The arena features a green roof, which helps to reduce heat gain in the building and improve air quality.

Natural ventilation: The arena has been designed to take advantage of natural ventilation, reducing the need for air-conditioning and improving indoor air quality.

Overall, these sustainable engineering practices help to reduce the arena's environmental impact, lower its energy consumption, and improve the comfort and well-being of its occupants.

References:
X. Liang-Pholsena. "Safety, spice and all things nice for sustainability | Meetings & Conventions Asia." Meetings Group | Meetings & Conventions Asia. https://www.meetings-conventions-asia.com/News/Venues/Penang-Setia-SPICE-raises-the-bar-for-safety-and-sustainability.

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Technology Investment Decision – Return on investment (ROI)

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Return on Investment (ROI) is a financial metric used to evaluate the performance of an investment. It measures the amount of return on an investment relative to the investment's cost. The ROI is typically expressed as a percentage and is calculated by dividing the gain from the investment by the cost of the investment. ROI is a popular metric used in finance and investing, as it provides a clear and simple way to evaluate the profitability of an investment. It can be used to compare the performance of different investments and to help make decisions about where to allocate resources.

The figure above depicts potential reasons why investing in the Setia SPICE Arena project would result in a high return on investment (ROI).

References:
https://elearning.usm.my/sidang2223/pluginfile.php/345827/mod_resource/content/3/2022%202023%20SEM%201%20EUP222%20Proect%20Finance%20Project%20Valuation%20%28LO3%29%20NOTES.pdf

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(Nischal Prasad 146353)          Lesson learnt on technology and sustainability of project financing.

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(Nischal Prasad 146353)          Lesson learnt on technology and sustainability of project financing.

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When assessing the feasibility and long-term viability of a project financing, technology and sustainability are crucial factors to take into account.

Lessons learned from previous projects have demonstrated that investing in cutting-edge technologies can have a positive impact on efficiency, cost, and environmental performance. However, it is crucial to carefully assess any risks and uncertainties connected to new technologies, including the accessibility of qualified personnel, regulatory compliance, and the possibility of technical malfunctions or failures.

Due to its close relationship to a project's long-term viability and profitability, sustainability is another important factor in project financing. This includes elements like social responsibility, resource efficiency, and environmental impact. Using sustainable technologies and methods can lower costs, reduce risks, and enhance a project's overall social and environmental performance.

In conclusion, it's critical to take sustainability and technology into account when assessing a project's long-term viability and feasibility. Although it might require a bigger investment, doing so will guarantee that the project is long-term economically viable and sustainable.

REFERENCES:
1) Asian Development Bank. (2021, February 18). Policy Dialogue on Infrastructure, Technology, and Finance for Sustainable and Inclusive Development in Asia Beyond the Pandemic. Asian Development Bank. https://www.adb.org/news/events/infrastructure-technology-finance-sustainable-inclusive-development-asia

2)Pcu, I. (n.d.). Building Sustainability:Partnerships and Finance.ppt. Slideshare.Net. Retrieved January 27, 2023, from https://www.slideshare.net/iwlpcu/building-sustainabilitypartnerships-and-financeppt

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Social cost-benefit analysis (SCBA) is a method used to evaluate the economic efficiency of a policy, project, or program. 

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(Nischal Prasad 146353) Social-Cost Benefits 

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(Nischal Prasad 146353) Social-Cost Benefits 

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REFERENCES

1) Social Cost Benefit Analysis. (2020, February 25). Decisio. https://decisio.nl/en/services/social-cost-benefit-analysis/

2) ELearn@USM sidang 2022/2023: Log in to the site. (n.d.). Usm.My. Retrieved January 27, 2023, from https://elearning.usm.my/sidang2223/pluginfile.php/343678/mod_resource/content/1/2022

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(Nischal Prasad 146353) How does Setia Spice Arena benefit the community?

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(Nischal Prasad 146353) How does Setia Spice Arena benefit the community?

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The establishment of Setia Spice Arena is truly beneficial in so many ways and many sectors which include of tourism, the growth of the country's economy, and also the education sector allowing more opportunities for the community to take part in.

References:
"Green convention centre raises the bar." The Edge Markets. https://www.theedgemarkets.com/article/green-convention-centre-raises-bar.