Prime Minister Datuk Seri Anwar Ibrahim has assured that the proposed Urban Renewal Act will protect homeowners by providing them with revitalised properties, compensation, and living benefits throughout the redevelopment process.

Speaking through his senior press secretary, Tunku Nashrul Abaidah, during the Prime Minister’s Office (PMO) daily briefing on Wednesday, Anwar emphasised that the renewal project must be conducted with homeowners’ consent, ensuring their agreement before proceeding.

A key aspect of the bill is its compensation framework, which ensures homeowners retain their rights to the redeveloped site. Compensation will be based on the future market value of their property rather than the current value, allowing owners to regain ownership of their upgraded homes.

“This is different from the current system, where compensation is based on present market value, making it difficult for homeowners to afford new properties,” Anwar stated.

To support residents during the reconstruction phase, the bill proposes various benefits, including transit housing rental payments, ex-gratia payments for home renovations, and additional financial aid.

Addressing concerns, Anwar dismissed claims that the bill would displace Malays and Bumiputera from urban areas or solely benefit developers. He affirmed that the legislation aims to uphold the dignity of urban residents, particularly Malays, allowing them to continue living in their communities with improved living conditions.

The bill also sets a consensus threshold for redevelopment. Projects involving buildings less than 30 years old require 80% resident approval, while those over 30 years old need 75%. For abandoned or derelict housing, only a simple majority of 51% is needed.

“This bill offers a solution to the long-standing struggle between homeowners and developers,” Anwar concluded.

The Penang Island City Council (MBPP) has announced a Request for Proposal (RFP) for the redevelopment of the Batu Ferringhi Market Complex, a MBPP-owned property.

MBPP Councillor Nicholas Theng Jie Wey stated that the complex, strategically located on Jalan Sungai Satu, directly opposite Pinang Emas Apartments, was originally designed as a wet market when it was built in 2017.

“However, due to low demand and a lack of business activity, the complex was returned to MBPP.

“Hence, MBPP intends to open a tender process for the complex’s redevelopment, inviting proposals for commercial and community-based uses,” he said during a press conference at the EOC Building, Jalan Kampung Jawa Baru on Thursday.

Several other MBPP councillors, including Mohamad Khairani Abdul Shukor, Nur Hidayah Che Rose, R. Hari Krishnan, Mohamed Yusoff Mohamed Noor, Benji Ang Ming Quan, Chen Wooi Teong, and Ooi Mei Mei, were also present at the press conference.

Aiming for Maximum Utilization

Theng highlighted that the two-story complex is equipped with modern facilities, including an elevator, a hall, multipurpose rooms, and parking spaces for cars and motorcycles.

“We want to ensure that this asset is fully utilized—not just for business purposes but also to benefit the local community through meaningful activities.

“MBPP hopes this tender will attract qualified applicants with innovative and competitive concepts to revitalize the complex, ultimately adding value to the community and the state’s economy.

“Proposals should be practical, high-value, and capable of enhancing socio-economic activities in the area. We believe this project can create a positive impact for the local community,” he added.

The tender will be advertised on 24 March 2025, and will close on 5 May 2025. Interested parties must attend a briefing and site visit at the complex on 7 April 2025, at 10:30 AM to qualify for submission.

Penang continues to strengthen its position as a leading industrial hub with the groundbreaking of Hotayi BK3, the latest expansion of Hotayi (M) Electronics Sdn Bhd in Batu Kawan. The ceremony, officiated by Chief Minister Chow Kon Yeow, marks a significant milestone for the Taiwanese-owned electronics manufacturing company.

Chow expressed his gratitude to Hotayi for its long-term commitment to Penang, acknowledging the company’s role in shaping the state’s economic landscape. Since its establishment in 1992, Hotayi has been a key player in the Electronics Manufacturing Services (EMS) industry, specialising in advanced manufacturing solutions for sectors such as data centres, automotive, communications, and consumer electronics.

“This Phase 3 expansion will introduce smart manufacturing across 380,000 square feet, backed by an investment of RM500 million. The new facility is expected to create 1,000 high-value jobs upon completion,” Chow said.

As Malaysia’s top contributor to the electrical and electronics (E&E) sector, Penang plays a crucial role in the global semiconductor supply chain. Chow highlighted that the state accounts for over 5% of global semiconductor exports and hosts leading semiconductor companies alongside strong homegrown industry players.

“With over 50 years of industrial excellence, Penang has established itself as a premier destination for high-tech manufacturing and innovation-driven investments,” he added.

In 2023, Penang was among the top three states in Malaysia for approved manufacturing investments, securing RM17.3 billion. Of this, RM13.8 billion—or 80%—came from foreign direct investments (FDI). The electronics and electrical products sector led the way, attracting RM7.8 billion, or 45% of the total approved manufacturing investments in 2024.

Beyond business growth, Hotayi is also giving back to the community. The company contributed RM500,000 to the Penang Future Foundation (PFF), a state government-backed scholarship programme that supports outstanding Malaysian students in STEM-related fields. Chow encouraged more private sector participation in developing local STEM talent to meet industry demands.

Hotayi chairman Datuk Seri Lee Hung Lung expressed pride in the company’s achievements and attributed its success to the dedication of its employees. “Our team is the driving force behind Hotayi’s growth. With this expansion, we aim to create more employment opportunities and achieve even greater milestones,” he said.

Echoing similar sentiments, Hotayi managing director Datuk Goh Guek Eng noted that the company has undergone multiple expansions since 2017, reflecting its steady growth and confidence in Penang’s industrial ecosystem.

The groundbreaking ceremony for the Rumah Mampu Milik (RMM) Bakat Baru MADANI housing project in Seberang Jaya is scheduled to take place at the end of April 2025.

Chief Minister Y.A.B. Tuan Chow Kon Yeow previously announced that the ceremony was initially planned for March 2025 but was postponed due to additional requirements that needed to be fulfilled following planning approval.

“The groundbreaking is now scheduled for the end of April and will mark the launch of the project’s first phase in Seberang Jaya,” he said during a press conference yesterday.

This project is part of the government’s initiative to attract more talent to work in Penang by providing affordable housing. The Prime Minister has also expressed hopes that the project can be expedited to meet housing demands.

Over the next 10 years, a total of 38,000 housing units will be developed in phases, starting in Seberang Jaya and later expanding to Bandar Cassia, Batu Kawan. The project will also utilize the Industrialized Building System (IBS) to accelerate construction timelines.

Dato’ Aziz Bakar, CEO of the Penang Development Corporation (PDC), highlighted that RMM Bakat Baru MADANI is the first scheme of its kind in Penang, requiring technical adjustments to comply with regulations.

With a gross development value (GDV) of RM13 billion, the project will feature facilities such as a swimming pool, gymnasium, multi-purpose hall, and playground.

The Penang state government has issued a strong call for action against developers delaying affordable housing projects. State Housing and Environment Committee chairman Datuk Seri Sundarajoo Somu emphasized the urgency of completing these projects to meet the growing demand for affordable homes in the state.

Sundarajoo revealed that while over 160,000 affordable housing units have been completed, are under construction, or are in the planning phase, more than 70,000 units remain stalled at the planning stage with no visible progress. To address this issue, the Penang Island City Council (MBPP) and the Seberang Perai City Council (MBSP) have been instructed to summon the developers responsible for these delays.

“If this issue persists, we will not approve new planning permissions for these developers unless they commence construction on their pending projects first,” he warned, stressing the need for strict measures to prevent further setbacks.

The state government remains committed to its goal of delivering 220,000 affordable housing units by 2030. Sundarajoo reiterated that ensuring access to affordable housing is a priority, as many Penangites cannot afford high-priced properties. He urged developers to fulfill their obligations, ensuring that those in need are not deprived of housing opportunities.