Penang recorded RM1.02b investments in Q1 of 2018, says chief minister
BUKIT MERTAJAM, July 7 ― Penang has recorded total investments of RM1.02 billion in the first quarter (Q1) of this year, comprising foreign direct investments (FDI) of RM580 million and domestic investments of RM438 million. Chief Minister Chow Kon Yeow said as reported by the Malaysian Investment Development Authority, Penang recorded the highest approved manufacturing […]
US firms in Penang to stay, envoy says after Najib court cases
GEORGE TOWN, July 5 — American companies based in Penang will not be returning home despite the US presidential tax break offer and the change of government in Malaysia. US Ambassador to Malaysia Kamala Shirin Lakhdhir gave an assurance that her country’s companies, especially in the electronics and medical devices industries, will remain here after […]
Trade war between US and China may be an opportunity for Malaysia, says MITI minister
KUALA LUMPUR (July 5): Newly-minted Minister of International Trade and Industries Darell Leiking said the looming trade war that might be happening between the U.S. and China may present an opportunity for Malaysia to be a more significant trading partner with China. “China is a huge importer of our goods and we import a lot […]
AirAsia strengthens Penang hub with two new routes
TRAVELLERS can now look forward to more flights with AirAsia, which marked another milestone with two inaugural flights from Hanoi, Vietnam, and Phuket, Thailand, into its Penang hub at the Penang International Airport. AirAsia Malaysia Head of Commercial Spencer Lee said the airline was pleased to strengthen its Penang hub further with the two new […]
11th MP review to focus on FDI
KUALA LUMPUR: The 11th Malaysia Plan’s (11MP) midterm review will focus on sustaining the flow of foreign direct investment (FDI) into the country and will be tabled on Oct 18, says Economic Affairs Minister Datuk Seri Mohamed Azmin Ali. “The focus is on ensuring we can sustain FDI and we want investors to retain Malaysia […]
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 […]