Applications are coming in for the RM40mil Penang SME Centre which is scheduled to open in June this year.

It has received enough to cover about 100,000sq ft of the floor area of the 166,874sq ft building.

Penang SME Centre management council chairman Datuk Seri Kelvin Kiew said about 10 small and medium companies from the electronics and semiconductor manufacturing sector were being considered for the four-storey building at the Bayan Lepas Industrial Park.

“The rental at the centre is very competitive at RM1.50 per sq ft for the second floor compared to RM2.50 per sq ft in the market for a similar level.

“The rental for the first floor at the centre is RM1.80 per sq ft,” he said in an interview.

Kiew added that during times of economic crisis, the centre could help local small and medium companies to expand as the cost to rent was at a very low rate.

The key business areas that the centre aims to promote are research and development, manufacturing activities for the light-emitting diodes (LEDs), solar power manufacturing, industrial electronics, and the semiconductor industry.

Meanwhile, investPenang general manager Loo Lee Lian said tenants at the centre could tap into investPenang and Penang Development Corporation’s industrial network to gain access to venture capitalists, research and development centres, and potential markets.

“The tenants will be promoted to local multinational corporations with the aim of becoming preferred suppliers.

“The centre will also serve as a local supply chain showcase to foreign and local investors,” she said.

Loo said the tenants would also be given priority to move into the proposed SME village in Batu Kawan.

Source: The Star