Iconic Penang Sdn Bhd will complete a RM180 million five-star hotel under the Marriott brand in Penang by the middle of next year.

The Iconic Marjorie Hotel will be a 298-room property near Sungai Nibong, touted to be the first five-star Peranakan-inspired hotel of its kind and scale, with designs borrowed from Penang’s cultural heritage.

Iconic Penang director Tan Kean Tet said the hotel would be part of Marriott’s Tribute Portfolio, joining several top properties under the range.

“Marriott International is the world’s largest hotel company and has consistently delivered the highest levels of service.

“I believe our partnership will further unlock the potential value of Iconic’s property and hotel assets, leveraging Marriott’s brand and presence,” he said at the signing of a franchise agreement between the company and Marriott here yesterday.

Marriott International Asia Pacific (excluding China) senior vice-president Kevin Chen said it was excited to have Iconic Marjorie onboard, which fits into its Tribute Portfolio hotel range and offers enjoyable stays for both leisure and business travellers.

Chief minister Chow Kon Yeow, who witnessed the signing, said the project would help Penang pivot further to high-end tourism and boost the local economy.

He said Marriott’s expanded presence is a testament to Penang’s position as Malaysia’s primary tourism gateway.

The hotel, which is 60% complete, will be the first in Penang to achieve the gold standard under the Green Building Index.

The Lone Pine at Batu Ferringhi had become the first local property to be included in Marriott’s Tribute Portfolio in Penang in July.

It was learnt that another Marriott property is expected to open near Gurney Drive this year, besides the Marriott Courtyard, which opened on Macalister Road two years ago.

The Iconic Marjorie is the company’s second foray into hotels, with the first one near Juru in 2016.

Source: FMT Online

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

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 (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

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.