News about Penang

Designated as Package CMC2, the tender is open to Malaysian contractors as well as foreign contractors, which must form a joint venture or consortium with Malaysian contractors holding at least 50% equity.

"From the list of 100-200 projects that we proposed, the federal government told us to present a shortlist of 10 priority projects.

Chief Minister Chow Kon Yeow said the state government is committed to making Penang a safe and attractive destination for tourists, further strengthening its position as a leading international tourism hub.

Transport Minister Anthony Loke Siew Fook: It’s only an allegation.

Penang Chief Minister Chow Kon Yeow said that although the land is not owned by the state but RAC, the lease that is expected to end in several years is subject to the state government’s consideration, and that any decision regarding the extension depends on the state government’s consideration, based on further discussions between MSM Prai and RAC.

Chief Minister Chow Kon Yeow said the percentage increase for the rural housing category was 127.

Under the SPA, Pharmaniaga Logistics has already paid a 10% deposit of RM3 million, with the remaining RM27 million to be settled in installments as stipulated in the agreement.

EdgeProp editorial and branding head Jacqueline Lim: Penang’s residential overhang steadily eased from 5,493 units in 2020 to 2,069 units in 2024, reflecting a gradual absorption of unsold stock.

“Developers often don’t even have dedicated bumi sales staff or marketers, so the message gets lost with prospective buyers.

Chief Minister Chow Kon Yeow: The amendment involves more than 210,000 land titles and 184,000 strata titles, which will be reclassified according to the new land status.