Sunway and PDC to jointly develop BKIP 2

Property News/ 28 September 2023 No comments


Sunway Bhd’s 70%-owned Umech Land Sdn Bhd has signed a joint development agreement with Penang Development Corp (PDC) to develop a 559-acre prime industrial land in Batu Kawan, Penang, in exchange for a land entitlement of RM646.02 million.

PDC will receive a land entitlement that consists of a RM64.6 million deposit, with the remaining RM581.42 million to be paid via four installments. Both parties will collaborate on the development of the land, which will be known as “Batu Kawan Industrial Park 2”.

“The proposed industrial park will comprise factories, industrial lots and commercial components with a gross development value (GDV) of at least RM3.5 billion,” said Sunway in a statement on Wednesday.

The entitlement will be fully funded via Umech Land’s internally generated funds and banking facilities, its bourse filing added.

“This investment signifies Sunway Property’s commitment to not only create a sustainable industrial park, but also to contribute to the economic growth and prosperity of the state of Penang by attracting investments and fostering technological advancements in the region,” said managing director Sarena Cheah.

“The strategic development aligns seamlessly with Sunway Property’s dedication to advancing innovation, technology, and sustainable development within the industrial sector, while accommodating the ever-changing requirements of businesses in the digital era.”

Sunway said it is set for growth with a total landbank of 3,312 acres and a potential gross development value of RM 53.9 billion over a period of more than 15 years.

Source: TheEdgeMalaysia.com


Key infrastructure projects underway in Penang

Property News/ 27 September 2023 1 comment


Chief Minister Chow Kon Yeow expressed the state’s commitment to advancing the major infrastructure projects that have been in progress for the past decade during his attendance at the Penang Master Builders’ 146th-anniversary dinner at St Giles The Wembley Hotel.

“Under the guidance of the current state government, we are confident that we will fulfill our electoral pledges, primarily centred on commencing and successfully concluding these significant infrastructure initiatives.

“This endeavour is aimed at reinforcing the groundwork for further development, solidifying Penang’s status as a crucial economic centre in Malaysia.”

“We firmly believe that Penang remains an attractive destination for investments,” he added.

According to Chow, the major infrastructure projects include the Penang Light Rail Transit (LRT), the expansion of the Penang International Airport (PIA) and the Penang South Island have officially commenced.

“Two weeks ago during the 12th Malaysia Plan (12MP) Mid-Term Review (MTR), the Prime Minister (Datuk Seri Anwar Ibrahim), who is also the Finance Minister, listed six major projects to be implemented.

“The list includes the Penang LRT project and the PIA expansion. We hope that the PIA expansion project can be implemented and completed in another three to four years.

“This is to ensure that, the expansion could cater to the ever-increasing passengers at the PIA,” he said yesterday (Sept 26).

Chow also shared that the PSI is expected to be completed in eight years and that its first phase, which includes the Green Tech Park, could be built in the next two to three years.

He hoped that by the middle of November, an official ceremony could be held on the reclaimed land (phase one) to mark the start of the project.

Discussing the Air Itam-Tun Dr Lim Chong Eu Expressway bypass (Package Two), a component of the three-highway and undersea tunnel project, Chow stated that it is anticipated to reach completion by mid-2025.

“The Penang Infrastructure Corporation will be working on the Tanjung Bungah-Teluk Bahang paired road (Package One) so that we do not have to wait for the Package Two project to be completed.

“This is to help alleviate the traffic congestions in some parts of the island,” Chow said, adding that the Gurney Drive-Bagan Ajam undersea tunnel project is awaiting approval from the Penang Port Sdn Bhd authorities.

Apart from that, Chow highlighted other projects which needed much attention, such as flood mitigation projects, 5G infrastructure projects, and the provision of affordable homes.

“We welcome more projects from the Federal Government,” he added.

During his speech, Chow thanked the Penang Master Builders for its unwavering commitment to the development of Penang and Malaysia.


Meanwhile, Penang Master Builders president Goh Teng Woo emphasised that the expansion of Penang’s industrial sector has ushered in fresh opportunities for players in the construction industry.

Source: Buletin Mutiara


Global Foundries opens its first office in Penang

Property News/ 27 September 2023 No comments


Global Foundries (GF), one of the world’s leading semiconductor manufacturers, has chosen Penang to open its first office in the country.

It is located at One Precinct building in Bayan Baru.

GF chief manufacturing officer Kay Chai Ang said the key feature of the new office is the new state-of-the-art ‘factory control tower’.

“It will enable the team to monitor key production processes, performance metrics, and tool uptime across all of Global Foundries’ global manufacturing sites.

“Our plans for the Penang office also include the use of Industry 4.0 solutions to enhance manufacturing processes for greater efficiency and productivity.

“We will also train our employees in the Penang office in the use of artificial intelligence (Al) and machine learning to further automate processes in semiconductor manufacturing,” Chai said in his speech before Chief Minister Chow Kon Yeow officiated the company’s office yesterday.

Also present were InvestPenang chief executive officer Datuk Loo Lee Lian and the Chief Minister’s special investment adviser Datuk Seri Lee Kah Choon.

Chai added that the new office would create 300 high-value manufacturing support roles, including technicians, engineers, and administrative support.

Chow was also proud that Penang was chosen as the location for the GF office, showcasing the confidence placed in the Penang ecosystem.

“As one of the world’s top three largest semiconductor foundry companies, I am pleased that Penang has been chosen to be a key part of your global hub strategy to augment your global manufacturing footprint in Singapore, the United States and Germany.

“At a time when business and supply chain resiliency are key priorities, Global Foundries global manufacturing footprint sets the company ahead of the pack.

“Particularly, the company’s emphasis on digital manufacturing also aligns with Penang’s goals and roadmap as we continue to anchor our position as the Silicon Valley of the East,” he said.

Chow added that the state, via InvestPenang, strives to provide steadfast support and facilitation to all investors so that Penang could continue to strengthen its position and relevance as a location for global businesses to set up their offices.

Source: Buletin Mutiara

Reclamation work for Silicon Island project has begun

Property News/ 26 September 2023 2 comments


In a recent Facebook post, the Chief Minister of Penang unveiled that the long-awaited Silion Island (also known as Penang South Island) reclamation project has officially begun. This momentous endeavor, which endured nearly a decade of legal and technical challenges along with extensive public engagement, marks a major step towards a prosperous and sustainable future for the region.

The primary goal of this project is to create land for a state-of-the-art Green Technology Park. This initiative aligns perfectly with global sustainability trends, making Penang a focal point for eco-friendly innovation. The park is expected to attract high-value investments and generate numerous employment opportunities, solidifying Penang’s position as a regional leader in green technology and sustainable development.

Beyond economic benefits, this project underscores Penang’s commitment to environmental conservation. Rigorous environmental impact assessments and mitigation measures are in place to preserve the region’s natural beauty and biodiversity.

The launch of the Silicon Island project signifies a bold step towards securing a prosperous and eco-conscious future. As the Green Technology Park takes shape, Penang anticipates a brighter and more sustainable tomorrow, setting an example for the region’s development. This project showcases the resilience and vision of Penang’s leadership and its people, marking the beginning of a transformative journey.

Klippa Shopping Centre extends a friendly invitation to all – Klippa Kan Kawan

Property News/ 26 September 2023 No comments /中文版

klippa-kankawan-RGB-A2-KV-VerticalKlippa Shopping Centre, Ikano Centres’ meeting destination in North Malaysia, is delighted to introduce its “Klippa Kan Kawan” campaign – an open invitation to the Batu Kawan community as well as Penangites, and neighbouring states to join the centre in creating meaningful connections and offering an exciting array of deals and promotions.

Klippa as your Welcoming Friend

Derived from a Swedish word that encompasses both ‘rock’ and ‘friend’, Klippa is more than just a retail destination; it embodies the spirit of a welcoming friend, reflecting the brand’s vision of building meaningful connections. As new families settle into their homes, students embark on their educational journeys, and professionals build their careers within the Batu Kawan Industrial Park, Klippa is committed to tailoring experiences for everyone in the community and beyond, including Penangites, and neighbouring states.

Klippa’s goal is to create fun, exciting, and convenient experiences on every visit. The centre offers a variety of snacking options, cosy hangout spots, and budget-friendly meal deals for students and working professionals at tenants like Kejap Food, XiXiang Kaya Kopitiam, Zus Coffee, and more. Klippa’s exciting F&B drive-thru concept caters to the convenience of busy professionals and families with drive-thru lunch options and effortless access to well-known food brands like Kenny Rogers Roasters, Coffee Bean & Tea Leaf, A&W, McDonald’s, KFC, and many others.

For families residing in the area, Klippa offers a variety of essential home-focused tenants, including Mr DIY Plus and Harvey Norman. Moreover, the centre houses a full-fledged supermarket, TMG Plus, known for its extensive selection of fresh groceries and dry goods, all priced affordably to meet the diverse needs of every shopper.

To enhance the experience for Klippa’s friends or ‘kawan-kawan’ from across North Malaysia, the centre strives to enhance their visits to IKEA Batu Kawan, ensuring that visitors can make the most of their day out.

Natasha Aziz, Head of Brand Experience & Communications of Ikano Centres said, “Klippa envisions itself to be more than just as shopping centre, we have the ambition for Klippa to become the hub of the growing Batu Kawan township. We first opened Klippa in 2019 with only 80,000 sq ft of gross leasable area (GLA). Since then we have expanded to 675,000 sq ft with 40 tenants and a healthy occupancy rate of 98%. We remain committed to growing together with our Batu Kawan communities, to introduce new offers that are relevant to our customers’ needs. Our end goal is to create a retail-anchored meeting destination where our visitors can shop, dine, connect, socialise and celebrate the uniqueness of our location.”

Exciting Updates at Klippa

Looking ahead to 2024, Klippa will welcome two significant additions to its retail line up. The first is a petrol station operated by Caltex, which is set to open in the first quarter. In the second half of 2024, Klippa will also open mainland Penang’s first Decathlon store, making a healthy lifestyle more accessible for North Malaysians.

Weekly Mega-Deals

For the last quarter of 2023, Klippa will introduce exclusive promotions, and special offers that will make shopping experiences at the centre even more rewarding. Stay tuned for exciting weekday deals across our many tenants.