CONVENTION tourism sector in Penang has recorded strong growth in recent years, with the industry generating an estimated economic impact exceeding RM1bil last year. Penang Chief Minister Chow Kon Yeow said the sector has become a vital lifeline for local industries, bolstering transportation, retail, hospitality and supply chains. He added that with the upcoming Penang Waterfront Convention Centre...
PETALING JAYA: Construction behemoth Sunway Bhd has proposed to acquire rival IJM Corp Bhd in a mega cash-and-shares deal worth in excess of RM11 billion. In its exchange filing today, Sunway said it had served notice of its conditional voluntary takeover offer on the IJM board to acquire all of the 3.5 billion IJM shares at RM3.15 a share. It said the offer price will be satisfied via cash totalling...
January 5, 2026 GEORGE TOWN: The new shopping centre at Penang Waterfront Convention Centre (PWCC) will complement the area's mixed-use development, supporting business and tourism without creating a retail glut. IJM Perennial Development director Datuk Tony Ling Thou Lung said the retail component is part of an integrated project including a convention centre, offices and hotels, and is not intended...
KUALA LUMPUR (Dec 26): Penang-based electronics manufacturing services provider NationGate Holdings Bhd (KL:NATGATE) is acquiring Valeo Malaysia CDA Sdn Bhd from French automotive supplier Valeo SE for RM60.89 million in cash. Valeo Malaysia is principally involved in the manufacturing of plastic injection-moulded components, printed circuit board assemblies, final testing and assembly of...
November 25, 2025 Polyplas Sdn Bhd, a Malaysian-owned precision injection moulding manufacturer, has launched a new high-tech manufacturing facility in Penang, backed by RM74 million in total investment for the plant and advanced machinery. The expansion aims to enhance operational efficiency, accelerate Industry 4.0 adoption and strengthen Malaysia’s position in innovation-driven manufacturing,...
Thu, 21 August 2025 GEORGE TOWN, Aug 21 — Penang said today that it has remained as a main medical tourism destination in Malaysia after recording RM888.7 million in revenue last year. Penang Chief Minister Chow Kon Yeow said the state recorded 412,944 foreign patients last year, according to figures collected from 17 members of Penang Centre of Medical Tourism. “As of August 18, Penang has...
August 15, 2025 CHIEF Minister Chow Kon Yeow has proposed a closer integration between the Penang State Structure Plan 2040 (RSNPP 2040) and the 2035 Local Plan (island) Draft (DRTPP2035), to ensure better alignment and more efficient development planning across the state. Speaking during a stakeholder engagement session hosted by the Penang Island City Council (MBPP) at JEN Hotel this morning, Chow...
State Infrastructure, Transport and Digital Committee chairman Zairil Khir Johari said the strategic plan aims to raise the digital economy’s contribution to 35 per cent of Penang’s GDP by 2030. Saturday, 09 Aug 2025 GEORGE TOWN, Aug 10 — Increasing Penang’s Gross Domestic Product (GDP) contribution from RM116 billion in 2023 to RM156 billion by 2030 is among the key success metrics under the...
Friday, 08 Aug 2025 PETALING JAYA: Skyworld Development Bhd had inked a sales and purchase agreement to acquire four adjoining parcels of land in Seberang Perai Tengah, Penang for RM82.7mil cash. The agreement was entered via its 70%-indirect subsidiary Prefab Master (Penang) Sdn Bhd, with Tan Tio Che @ Tan Chew Cheng. In a filing with Bursa Malaysia, SkyWorld said the 26.37-acres of land just...
Penang Chief Minister Chow Kon Yeow speaks during the AI Horizon 2025 conference at Spice Arena in George Town on Aug 8, 2025. Friday, 08 Aug 2025 GEORGE TOWN, Aug 8 — Artificial intelligence (AI) will be a key driver of Penang’s competitiveness and long-term economic sustainability, Chief Minister Chow Kon Yeow said today. He said that AI plays a crucial role in empowering digital...
Monday, 09 Jun 2025 PETALING JAYA: Econpile Holdings Bhd, which has secured its first contract for the Penang light rail transit (LRT) Mutiara Line, is poised to win more jobs as the RM10bil project gains momentum, analysts say. On June 5, Econpile announced it was awarded a RM42.8mil bored piling sub-package spanning three stations – from East Jelutong to Gelugor – out of the total 21 stations....
Tuesday, 18 Feb 2025 GEORGE TOWN: Sime Darby Auto ConneXion (Auto ConneXion), the sole distributor for Ford in Malaysia, has officially opened its latest and largest 3S (Sales, Service and Spare Parts) showroom in Penang, located at Jalan Baru, Seberang Perai Tengah. With an investment of RM16.6 million, this state-of-the-art facility strengthens Auto ConneXion’s network in the northern region,...
30-12-2024 TAXPAYERS usually do not pay attention to stamp duty unless there is a transfer of property that requires the title to be transferred, or transactions undertaken between third parties which may have to be litigated in the courts. Unless the document is stamped, it will not be accepted in the courts. At the moment, there is no compulsion for taxpayers to stamp their documents. Generally,...
October 29, 2024 WITH over 50 years of manufacturing and industrial expertise, particularly in the electrical and electronics (E&E) sector, Penang has firmly established itself as a premier hub for Global Business Services (GBS). This is demonstrated by the presence of more than 70 companies operating GBS facilities in the state, collectively employing over 17,000 professionals....
September 12, 2024 UNITED STATES-based Benchmark Precision Technologies has officially expanded its presence in Penang with the opening of its fourth manufacturing facility. The latest facility, located in Batu Kawan Industrial Park (BKIP), spans approximately 8,000 square metres and includes additional expansion space for future development. This complements the company’s other three...
September 8, 2024 PENANG has officially launched its Science, Technology, Engineering, and Mathematics (STEM) Talent Blueprint at Tech Dome Penang, Komtar, this evening. The blueprint was developed by the Penang STEM Working Group, a special committee comprising InvestPenang, Penang Institute, Penang Skills Development Centre (PSDC), Motorola Solutions, Pentamaster, and Intel. Penang Chief...
Tuesday, 06 Aug 2024 PETALING JAYA: Chin Hin Group Bhd has acquired substantial stakes in two data centre specialist firms totalling RM51.5mil. In a filing with Bursa Malaysia, the company said it had acquired 500,500 (65%) shares in Critical System Specialist Sdn Bhd for RM41.21mil and 195,000 shares (65%) in CSS Engineering and Construction Sdn Bhd for RM10.30mil. Chin Hin said it had entered...
Matrade reported that Penang was Malaysia’s main exporter in 2023, contributing 30.5% or RM434.74 billion of the country’s total exports. 22 Jul 2024 PETALING JAYA: Penang remains Malaysia’s top exporter from January to May, with a value of RM177.99 billion, said Malaysia External Trade Development Corporation (Matrade) chairman Reezal Merican Naina Merican. He said Penang was also the...
The facility is expected to generate monthly revenue of RM150 million at a maximum production of 750,000 copper-clad laminate sheets. Mass production will begin in the second quarter of 2025. June 21, 2024 GEORGE TOWN (June 20): Taiwan-based copper-clad laminate manufacturer Elite Material Co Ltd (EMC) is investing RM900 million to set up Penang Science Park North facility. EMC chairman and...
Thursday, 30 May 2024 KUALA LUMPUR: Google will invest RM9.4bil (US$2bil) to house its first Google data centre and Google Cloud region in Malaysia, which is expected to support 26,500 jobs across various sectors and have an economic impact of about RM15.04bil, said the Ministry of Investment, Trade and Industry (Miti). The project, the technology giant's largest planned investment in Malaysia, will...