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View major news and upcoming events to explore Penang’s thriving key industries.

Penang to press Putrajaya on airport expansion

GEORGE TOWN, June 29 — The Penang state government has arranged for an official meeting with the Transport Ministry in a bid to expedite the expansion of the Penang International Airport (PIA). Tourism development, heritage, culture and arts committee chairman Yeoh Soon Hin said he spoke informally with Transport Minister Anthony Loke about the matter. […]

Alibaba founder Jack Ma invited to Penang

GEORGE TOWN, June 27 — Penang Chief Minister Chow Kon Yeow has invited Alibaba founder Jack Ma to visit the state so that he might consider investing there. He said Finance Minister Lim Guan Eng had suggested to Ma to do so when they met recently. “I am following up to that by officially sending […]

Hong Leong Bank allocates RM2.5b for SMEs

KUALA LUMPUR: Hong Leong Bank Berhad has allocated RM2.5bil for the development of small and medium enterprises (SMEs) for its next financial year starting July 1. Hong Leong Group Managing Director and Chief Executive Officer, Domenic Fuda said SMEs played a huge role in contributing to Malaysia’s gross domestic product (GDP) and this is expected […]

Dream chance to start tech business

IF you have a cool tech idea, Penang may fund you up to RM250,000 as long as you have proof of early traction. The Penang i4.0 Seed Fund, a pilot programme initiated by the state government through investPenang and @CAT Penang, offers funding to startups incorporated in Malaysia that have a working minimum viable product […]

Common Ground raises US$20mil to fuel regional expansion plans

KUALA LUMPUR: Malaysia’s co-working industry leader, Common Ground, has raised a US$20 million Series A funding to fuel its regional expansion plans, triple its number of venues in Malaysia and advance its technological interface by the year-end. This is in line with the brand’s efforts to grow its roster of corporate clients and partners as […]

PIE embarks on biggest expansion plan

SEBERANG JAYA: PIE Industrial Berhad is embarking on its biggest expansion exercise ever. The move is in response to growing interest in the group’s printed-circuit-board assembly (PCBA) products and box-built equipment. Group managing director Alvin Mui told StarBiz PIE is now in negotiations for several new major contracts. “We are also getting feedback that our orders will […]

Special master plan to develop southwest district

THE state government will ensure that development in each district is enjoyed by the people, said Chief Minister Chow Kon Yeow. Chow said for that purpose, he suggested that a special master plan for each district be developed especially the southwest district. According to him, the state government does not have a special master plan […]

New growth area for chipmaker

Manufacturer looks at new products to stay competitive as new players start crowding out the industry PENANG may become a key site of high-powered radio frequency integrated circuits (RFICs) production for unmanned vehicles as Mini-Circuits Technologies (Malaysia) considers a proposal to make such chips here. The company, a subsidiary of New York-based Scientific Component, plans […]

‘Time to recognise and elevate TVET’

PETALING JAYA: A holistic im­­provement of education in Malaysia includes the recognition and en­­hance­­ment of Technical and Voca­tional Education and Training (TVET), says PKR vice-president Nurul Izzah Anwar (pic). TVET should be elevated to a status equivalent or superior to traditional tertiary education, she added. Nurul Izzah, who chairs a newly set-up TVET task force to […]

Mi Equipment debuts on Bursa

PETALING JAYA: Mi Equipment Holdings Bhd shares closed up 12 sen at RM1.54 on its debut on Bursa Malaysia with nearly 74 million shares changing hands as the rally in technology stocks benefited the counter’s entry on the stock market. The Main Market wafer level chip scale packaging (WLCSP) sorting machine manufacturer is the first […]

Taiwan, Malaysia most affected by US tariffs on Chinese goods, says Schroders

KUALA LUMPUR: Taiwan, Malaysia and Singapore are among the top 10 markets most affected by US tariffs on Chinese goods via the supply chain as US President Donald Trump raised the rhetoric in the trade war against China, says Schroders. In a report issued on Wednesday, Schorder said tariffs on Chinese exports are much more […]

Malaysia could extend tax breaks for key foreign investors

KUALA LUMPUR (June 19): Malaysia could extend new tax incentives for foreign investment in areas such as technology if companies promise to create better-paid jobs for Malaysians, Prime Minister Tun Dr Mahathir Mohamad said on Tuesday. His comments could reassure investors in Southeast Asia’s third biggest economy after Dr Mahathir started a review of major […]

Chow hopes LRT project is implemented within five years

GEORGE TOWN: Penang Chief Minister, Chow Kon Yeow is targeting for the Light Rail Transit (LRT) project under Penang Transport Master Plan to begin during his tenure. Chow said the LRT project would take a longer time to complete in Penang but he hoped to see the project commence within five years. “The LRT project […]

Penang aims to have more direct flights by end of this year

GEORGE TOWN (June 14): The Penang Government aims to have more direct flights by year-end, specifically from East Asia countries. Penang Tourism Development, Heritage, Culture and Arts Committee chairman Yeoh Soon Hin said there was an increase in direct flights to Penang, as well as an increase in flight frequencies for this year. “Starting from […]

Inari’s new plants seen to boost earnings

Inari Amertron Bhd (June 12, RM2.26) Maintain buy with a higher target price of RM2.80: We are positive about Inari Amertron Bhd’s aggressive floor space expansion to 1.35 million sq ft (120,000 sq m) [+34%] by end 2018. For this, we now impute job win assumption for P21 and P34 worth RM150 million and RM300 million […]

PGA: Zero-rated GST a boon to gold jewellery export

GEORGE TOWN: The Penang Goldsmith Association (PGA) is projecting the export of Malaysia’s gold jewellery at an estimated RM6.7bil this year, up from an earlier forecast of RM4bil in March. PGA adviser Joeson Khor told StarBiz that the zero-rated goods and services tax (GST) would help to boost the value of gold jewellery export this year. When […]

Global semicon sales projected to hit US$463.4b in 2018, says SIA

KUALA LUMPUR (June 7): The semiconductor industry’s worldwide is projected to reach US$463.4 billion in 2018, according to the U.S.-based Semiconductor Industry Association (SIA). Global sales of semiconductors rose 20.2% year-on-year in April to US$37.6 from US$31.3 billion a year earlier. In a statement on its website yesterday, SIA said the April sales was 1.4% […]

New reservoir costing RM9.3mil the answer to future water demand

THE latest Bukit Dumbar Reservoir 4 (BDR4) will benefit about 315,000 people plus the Bayan Lepas Free Trade Zone, Penang International Airport and southern parts of Penang island. The BDR4, costing RM9.3mil, is part of three projects valued at RM140.4mil undertaken by Penang Water Supply Corporation (PBAPP). Chief Minister Chow Kon Yeow said the water […]

Tatt Giap plans RM140mil project

GEORGE TOWN: Tatt Giap Group Berhad plans to develop a RM140mil light industrial project in Valdor Industrial Estate in Sungai Bakap soon. Group chairman Datuk Thomas Liang told StarBiz after the company’s EGM that the plan was to turn the 12-acre site of the project into an industrial park. Tatt Giap intends to develop 38 three-storey semi-detached […]

Mi Equipment positioned for bigger growth

KUALA LUMPUR: In the semiconductor business, things are changing so fast that no one can afford to miss any new technology or critical development, lest one gets left far behind the curve. Mi Equipment Holdings Bhd group chief executive officer and executive director Oh Kuang Eng is cognisant of this fact. “When you miss certain […]

CSA increases flight frequency between Guangzhou and Penang, offering cheap fares for June

GEORGE TOWN: China Southern Airlines (CSA) has announced that it will increase the frequency of its direct flight from Guangzhou to Penang, to cater to the overwhelming demand of tourists in both countries. CSA Penang general manager Liu Zhen Hua said that the flight frequency from Guangzhou, which is currently at one trip daily, would […]