Penang Recorded RM8.8 Billion of Total Approved Manufacturing Investment In Jan-Mar 2019
Penang, June 12, 2019 – Penang remained a favourable investment destination, amid the intensified trade and technology disputes between the United States (US) and People’s Republic of China (PRC) that created uncertainties on the global trade and economic outlook. According to MIDA, in Jan to Mar 2019 (1Q19), Penang successfully garnered 41 manufacturing projects amounting […]
Penang Attracts Rm129.1 Billion Worth of Approved Investments in the Manufacturing Sector as At 2018
16 May 2019, Kuala Lumpur – Penang has consistently ranked among the top investment destinations in the country over the last five decades. As of 2018, MIDA approved a total of 4,084 manufacturing projects with investments worth RM129.1 billion for Penang. These projects have created over 516,600 job opportunities, mainly in electrical and electronics products, […]
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 […]
Rockets and spacecraft models on display at Tech Dome Penang in July
YOU probably have read about China’s space missions or even seen them on television. Now is the chance to get a rare insight into its aerospace programme at the Space Exploration Gallery at Tech Dome Penang. The China Science and Technology Museum has brought space models worth about RM1mil for the gallery in July. They […]
Malaysia’s participation in trade pacts left hanging in the air
KUALA LUMPUR (May 22): Malaysia’s participation in pending trade agreements such as the Regional Comprehensive Economic Partnership (RCEP) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is left hanging in the air until a new trade minister is named. “The new (Pakatan Harapan-led) government will have to decide whether Malaysia wants to be […]
Continental plans RM32.7m plant upgrade
CONTINENTAL Automotive Components Malaysia Sdn Bhd, an automotive component maker, plans to invest approximately €7 million (RM32.7 million) to transform its Penang plant into an advanced Industry 4.0 smart factory. The investments will include the expansion of the warehouse space and the research and development (R&D) centre to accommodate more engineers. “We expect this smart […]
NTPM to spend RM50mil on expansion
GEORGE TOWN: NTPM Holdings Bhd, the manufacturer of Premier tissue paper, is spending RM50mil to expand its manufacturing facilities in Vietnam and Penang this year. Group managing director Lee See Jin told StarBiz that the expansion would increase the group’s total production capacity to 170,000 tonnes per year from 110,000 tonnes. “In Vietnam, the capacity would be […]
From a journalist to CM
Small-sized, bespectacled and quite unassuming, this sub-editor always wore a careful smile in The National Echo newsroom in Penang more than 30 years ago. In fact, some of us had even nicknamed him “Mr Nice Guy”. Chow Kon Yeow, the new Chief Minister of Penang, was such a perfect gentleman that none of us would have thought […]
Transport plan tops CM’s list
NEWLY sworn-in Penang Chief Minister Chow Kon Yeow says the state will be “pushing further” for the approval of the Penang Transport Master Plan (PTMP). “We may not get the approval in 100 days. “However, we want to push further so everything can be ready when the plan is tabled before the Federal agency. “Everything […]
Elected reps all geared up to serve constituents
THE expansion of Penang International Airport, implementation of Light Rail Transit (LRT) and securing investment top the agenda of newly elected Bayan Baru MP Sim Tze Tzin. He said the airport needs to be upgraded and expanded to cater to the influx of tourists. “I will also look into ways to secure investment for the […]
Malaysia’s 2018 exports and imports to see growth
KUALA LUMPUR, May 7 — Malaysia’s exports and imports are expected to grow at 7.3 per cent and 7.5 per cent, respectively, this year, as external trade is expected to maintain its positive momentum, says JF Apex Securities Bhd. It said external trade would be driven by the manufacturing sector, backed by strong global trade […]
Plexus expands presence in Malaysia with acquisition of new facility
EMS provider Plexus is increasing its presence in Malaysia with the acquisition of a new 432,000 square-foot manufacturing facility in Penang. The facility is adjacent to Plexus’ existing Riverside manufacturing facility in Penang, and when combined will result in a 37-acre Riverside campus, a press release reads. “As part of our ongoing strategic planning process, […]
ViTrox poised to win more market share
ViTrox Corp Bhd (April 30, RM5.17) Maintain hold with an unchanged target price of RM5.24: ViTrox Corp Bhd remains upbeat and guided for another record-breaking quarter for its second quarter of 2018 (2QFY18). However, we remain neutral and opine that this is reflected in the current rich valuation. All product lines are projected to experience solid […]