Penang announces carrots for SMEs

Penang announces carrots for SMEs

4 April, 2018

GEORGE TOWN, April 4 — The Penang government introduced a new incentive programme today for local small-medium enterprises (SME) in a bid to drive up investment in the state.

Penang Chief Minister Lim Guan Eng said the Penang SME Centre will offer a 50-per cent discount for the rental of unfurnished units in the centre.

The discount is only for the first six months of tenancies signed between January 1 and June 30 this year.

“The incentive is only applicable for local companies and the eligible recipient is required to sign a three-year tenancy,” he said in his office in Komtar today.

He added that the state also offered other incentives to SMEs such as the free SME Market Advisory Resource and Training (SMART) Centre and a 150- acre SME Village.

Earlier, Lim witnessed the tenancy signing ceremony between Penang Development Corporation (PDC) and Togun Malaysia Sdn Bhd and Lleap Sdn Bhd.

Both companies took up lots in the Penang SME Centre.

“Both Togun and Lleap will be contributing to a combined investment value of about RM6 million and over 45 job opportunities,” Lim said.

Togun Malaysia produces hydrogen infused drinking water while Lleap is an IT company offering an e-Post system for single or large document volumes.

Penang SME Centre at Bayan Lepas Industrial Park is an enterprise space dedicated to support the establishment and growth of local SMEs through subsidised rental rates and international-class facilities.

Source: Malay Mail Online

Photo Credit: Penang SME Centre