It was definitely a night to remember at the Hunza Group 45th anniversary celebration held at the Setia SPICE Convention Centre in Bayan Lepas yesterday night.

Hundreds of dignitaries, including government officials and special guests, attended a luxurious and delicious buffet dinner accompanied by various cultural performances.

The anniversary celebration also marked the joyous occasion of commemorating the 82nd birthday of Hunza Group founder and executive advisor Datuk Seri Khor Teng Tong.

The anniversary celebration was attended by Chief Minister Chow Kon Yeow and his wife Tan Lean Kee.

In his speech, Chow congratulated Hunza Group on its 45th anniversary in the property development industry.

“Alongside the upcoming infrastructure initiatives by the Penang government, such as the expansion of the Penang International Airport and the Tanjung Bungah – Bayan Lepas LRT, I am confident that we will propel Penang to unprecedented heights,” Chow emphasised.

Also present during the anniversary celebration were Deputy Chief Minister II Jagdeep Singh Deo, Penang Trade, Entrepreneurial Development and Rural Development Committee chairman Rashidi Zinol, state Social Development, Welfare and Non-Islamic Religious Affairs Committee chairman Lim Siew Khim and state Youth, Sports and Health Committee chairman Daniel Gooi Zi Sen.

Other notable figures include the Chinese Consul-General in Penang Zhou Youbin, Teng Tong, Siang Gin, and its executive director Khor Tze Ming.

Siang Gin highlighted the significance of reaching this anniversary milestone, underscoring the remarkable journey of Hunza Group from its inception when the founder acquired his initial piece of land in Penang in the late 1970s.

“After four and a half decades, Hunza Group has evolved into an award-winning property developer, boasting a portfolio of 16,000 residential and commercial units across Malaysia,” Siang Gin proudly stated.

Meanwhile, Teng Tong expressed that tonight’s dinner reception holds a dual significance, commemorating his 82nd birthday and the 45th anniversary of the company he founded in 1978.

“I commenced my entrepreneurial journey at the age of 15 with only a basic education. Unaware of the challenges that awaited, I faced a deluge of trials that, in the end, shaped the person I am today.

“Fueled by a commitment to excellence, I pushed myself relentlessly upward over numerous years. In the late 1970s, I made a pivotal decision to relocate my entire family to Penang in pursuit of better education for my growing children.

“That decision became a turning point in my career and life, as it was then that I took a leap of faith into the property industry. It marked my point of rebirth.

“This doesn’t imply that the journey since then has been without challenges. Quite the contrary, navigating these uncharted waters proved to be more formidable than any obstacle I had encountered before.

“Nevertheless, I persisted with a prudent approach, a spirit of compromise, and unwavering dedication, investing countless hours throughout our developmental journey.

“I firmly believe that embracing our core values and maintaining steadfastness in the face of external influences can amicably resolve any challenge. Our journey has taken us to various places, and reaching this point today fills me with immense pride for what we have accomplished thus far,” he said.

Teng Tong expressed deep gratitude to all the staff at Hunza Group, acknowledging their unwavering dedication and tireless efforts that contributed to the company’s success.

“Special appreciation goes to those who have stood by us through the various challenges over the years.

“I take great pride in being a pioneer in providing retirement gratuity to staff members who have remained dedicated to us for an extended period.

“Words alone can never fully convey my appreciation for each of them who consistently went the extra mile for the success of our corporation.

“As a result, I am confident in stating that our prospects are promising in our two main pillars of property development and property investment,” Teng Tong affirmed.

Source: Buletin Mutiara

About GEM Residences

GEM Residences, a commercial development by Belleview Group at Prai, Penang. It is part of the company’s 6 hectares mixed development along Jalan Baru, diagonally opposite Megamall Penang. Next to it will be the upcoming largest mall in the northern region – GEM Mall, the tenant mix include SOGO (first and largest departmental store in the northen region at 212,000 sq.ft.) and a supermarket (largest at 50,000 sq.ft.).

Find out more about GEM Residences

Penang’s ongoing infrastructure developments, including the Bayan Lepas light rail transit (LRT) and Silicon Island projects, are elevating the outlook for several companies in the construction and property development sectors. This is according to a research report by Maybank Investment Bank (Maybank IB) which identified beneficiaries including Gamuda Bhd, IJM Corp Bhd, and Sunway Construction Group Bhd within construction and S P Setia Bhd, among others in property development.

The bank’s researchers visited Penang and their observations on the ground backed up their positive perspective on the state’s potential, with major projects driving Penang’s attraction for foreign direct investment (FDI) and tourism. Gamuda has a substantial stake in the construction sector, partnering with the Penang state government on the Silicon Island development. While in the property sector, an array of developers, including S P Setia, Eco World Development Group Bhd and IJM are set to redraw the landscape of Penang.

The researchers noted other significant infrastructure developments underway or in planning. These include the Penang International Airport expansion, which could virtually double its capacity; the Bayan Lepas LRT that could provide a transport link between the island and the mainland; and Silicon Island, a project with enormous potential to attract FDI and generate employment. If the LRT project extends to the Penang mainland, Malaysian Resources Corp Bhd and Eastern & Oriental could also stand to gain. Maybank IB also hinted that a third bridge between the island and mainland could be included in the Penang Transport Master Plan.

Maybank IB believes that these developments will aid Penang’s long-term growth, luring more FDI, especially in high-tech manufacturing. The Bayan Lepas LRT, in particular, is forecast to be a game-changer for the property market, which could be partially funded by new transit-oriented property developments. This move is expected to receive substantial response.

In addition to Silicon Island, ambitious projects like The Light Waterfront Phase 2 and Andaman Island are set to transform the dynamics of Penang’s property market. Despite the introduction of a new industrial park in Perak, Penang’s industrial land demand remains unaffected due to its connectivity, infrastructure and skilled workforce, the report says.

About Ideal Residency

Affordable housing development by Ideal Property Group in Penang Island. This development is strategically located on Kampung Kastam land near the intersection of Jalan Bukit Gambier and Jalan Lembah, less than 2km away from University Science Malaysia (USM). It features 1,218 affordable housing units with a standard built-up size of 850 sq.ft.

*Photo taken in Oct 2023

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A-Park is a guarded light industrial park development undertaken by Ancubic Industries Sdn. Bhd., situated in proximity to Valdor Industrial Park. It is positioned along Jalan Perindustrian Valdor, adjacent to Khong Long Huat Chemicals Sdn. Bhd. Additionally, it is conveniently accessible, being just a 5-minute drive away from Batu Kawan Industrial Park, while being surrounded by several SME factories in the vicinity.

The development will consist of 50 units of semi-detached and detached factories, which will be completed in various phases. Security features include security service, advanced visitor management, and direct owner access control systems.

Project Name: A-Park
Location : Valdor, Simpang Ampat
Property Type : Light industrial
Total Units: 50
Built-up Size: (to be confirmed)
Land Tenure : Freehold
Indicative Price : (to be confirmed)
Developer: Ancubic Industries Sdn. Bhd.

DISCLAIMER: This article is solely based on research done using publicly available data. This is not an advertisement. Any claim, statistic, quote or other representation about a project or service should be verified with the developer, provider, or party in question.