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Established on the 5th of November, 2004, investPenang is a non-profit entity of the State Government with the sole purpose of promoting investments within Penang. investPenang aims to sustain, rejuvenate and further promote business activity through continued investments and at the same time explore new growth areas which are profitable....more

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Penang embarks on RM27b transport masterplan with MRT, trams, water cabs PDF Print E-mail

The Malaymailonline, 25 July 2014 

GEORGE TOWN, July 25 — Penang is looking for a partner to roll out its massive RM27 billion transport master plan that will integrate both land and sea networks, including an MRT system, to link both the island and mainland halves of the state.

The state will call an open tender from August 15 to December 16 for the project, which it hopes to start next year and complete it by 2030.

“The Penang state government intends to achieve for both Penang Island and Seberang Perai a well-defined and fully connected road network and dispersal system and a well-integrated and sustainable public transport systems (both land and sea mode).

“In other words, this will combine buses, trams, MRT and water...

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Anti-dumping duty boost for Chin Well PDF Print E-mail

The Star, 19 July 2014 

INTEGRATED fasteners and wire rods manufacturer Chin Well Holdings Bhd has seen its European sales more than double following the anti-dumping duty imposed on China-made fasteners since 2009.

Executive director Tsai Chia Ling says that with another five-year extension on the cards, the company hopes to grow its current European sales market to a maximum of 60%, with the remainder from its Asian customers.

She says Europe had accounted for around 26% of its sales in...

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Cashing in on creative content PDF Print E-mail

The Star, 18 June 2014 

 

PENANG-based digital interactive entertainment companies are positioning themselves with expansion plans and new products to tap into the growing market of the local creative multimedia industry, which is projected to grow to US$9.35mil (RM30mil) by 2016.

According to Kamil Othman, vice-president of the creative multimedia division in the Multimedia Development Corporation (MDeC), local consumers are expected to spend about US$6.4mil this year for creative...

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High productivity driven by automation PDF Print E-mail

The Star, 19 June 2014 

 

AUTOMATION is increasingly more important in Penang’s manufacturing industries.

Deputy Chief Minister I Datuk Mohd Rashid Hasnon said the state was suitable for capital and technology-intensive industries involving a high-level of automation.

He said trade shows like Nepcon Malaysia were excellent means for foreign investors to come and see for themselves the investment and business potential of Penang.

He was speaking at the launch of Nepcon Malaysia...

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PIE banks on new technology for growth PDF Print E-mail

Focus Malaysia, 13 June 2014 

The expansion of a new multinational company (MNC) customer of PIE Industrial Bhd’s and the growth of its new satellite set-top-box decoder business have fuelled the latter’s sharp 64.75% jump in net earnings to RM9.12 mil for the first quarter ended March 31, 2014. For Q1, the Penang-based company’s revenue almost doubled to RM157.37 mil from RM81.59 mil a year earlier.

In FY13, the company posted a higher net profit and revenue of RM38.03 mil and...

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MDeC plans to woo more quality investments PDF Print E-mail

New Straits Times, 19 June 2014

KUALA LUMPUR:  Multimedia Development Corp (MDeC) wants to woo more domestic direct investments (DDIs) from government-linked and large local companies into the Multimedia Super Corridor (MSC Malaysia).

MDeC chief executive officer Datuk Badlisham Ghazali said the focus is to woo more quality, instead of low-end investments.

“We will look at the quality of the investments. We are cognisance of the type of investments we would like to pull in,” he told...

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Ire-Tex set to penetrate LED market PDF Print E-mail

The Star, 18 June 2014 

PETALING JAYA: Ire-Tex Corp Bhd is set to penetrate the light-emitting diode (LED) market having recently completed its acquisitions of Zoomic Automation Sdn Bhd and Zoomic Technology Sdn Bhd.

To this end, the Penang-based company which paid some RM16mil for both companies is believed to have obtained a contract worth more than RM100mil from a local firm, to produce energy-saving LED lights for overseas markets.

The contract, is likely to have been awarded to...

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EIU: Malaysia the 19th best country to do business in PDF Print E-mail

The Star, 17 June 2014 

PETALING JAYA: Malaysia has been ranked among the top 20 investor-friendly countries for the period between 2014 and 2018, according to The Economist Intelligence Unit (EIU)’s latest Business Environment Rankings (BER).

The report, released in May, ranked Malaysia 19th out of 82 countries as the best places to do business in.

Malaysia came in ahead of countries like the United Kingdom, France, South Korea, and Japan, showing an improvement of five places after...

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Penang LED tester device makers' charged up PDF Print E-mail

 The Star, 16 June 2014

GEORGE TOWN: The order book of light-emitting-diode (LED) test equipment manufacturers in Penang is already filled to the brim for the nine months of the 2014 fiscal year.

Elsoft Research Bhd group chief executive officer C.E. Tan told StarBiz that so far it had attracted between RM25mil and RM30mil worth of orders since January, which it was now in the process of delivering to the customers in Asia Pacific and Malaysia.

“We have yet to receive orders for...

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