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...
04 May 2024 BANGKOK (Bernama): The one-day Penang Street Food Festival 2024 held in Bangkok here on Saturday serves as a platform for Malaysian entrepreneurs in Thailand to expand their business. Malaysian ambassador to Thailand, Datuk Jojie Samuel, said there are many Malaysian entrepreneurs in Thailand, especially in the food and beverage industry, who operate small restaurants. "Besides...
April 27, 2024 AN investment of more than US$100 million is expected to be made in Penang by three prominent international semiconductor companies. The three companies – China Wafer Level CSP Co Ltd (WLCSP), Ningbo SJ Electronics Co Ltd (SJE) and Wuxi AMTE Inc (AMTE) are set to strengthen the integrated circuit (IC) design and advanced packaging sectors. WLCSP revolutionises the semiconductor...
Malaysia is the surprise winner of the US-China chip war, with Penang being the largest benefactor, the Financial Times reports.By Business Times - March 14, 2024KUALA LUMPUR: Malaysia is the surprise winner of the US-China chip war, with Penang being the largest benefactor, the Financial Times reports. The state attracted RM60.1 billion (US$12.8 billion) in foreign direct investment...
March 5, 2024 ACTIFORCE, a renowned global leader in the furniture components industry hailing from the Netherlands, has marked a significant achievement by officially inaugurating its state-of-the-art plant in Penang. The new facility, located at the Bukit Minyak industrial area, spans approximately 13,300sq ft. This marks Actiforce’s second plant in Penang, complementing the first, which has...
Saturday, February 17th, 2024 at Economy | News GEORGE TOWN – Penang, being the Silicon Valley of the East, is the breeding ground for successful stories of startups and large local companies (LLCs) that are at par with technology giants of the world. One great example is homegrown industrial automation solutions provider Greatech Technology Bhd that was set up by Tan Eng Kee and...
Monday, February 12th, 2024 at Economy GEORGE TOWN – Penang has successfully maintained its position as Malaysia’s top exporter in December 2023 despite being the second smallest state. Chief Minister Chow Kon Yeow said that Penang has consistently been in the top three positions in terms of contributing to the country’s economy, growth, and attracting investors. “In fact, the figures were...