News about Penang

GEORGE TOWN (May 14): The Penang government today denied claims that Chinese nationals had bought hundreds of homes in the state below the minimum price threshold set under the Malaysia My Second Home (MM2H) programme.

GEORGE TOWN (May 13): The Penang Development Corp (PDC) will open a third round of bidding for the Batu Kawan Industrial Park 2 project (BKIP2) in Byram as its second request for proposal (RFP) failed to proceed.

PETALING JAYA (May 13): A Penang state assemblyman has proposed a 3% property transfer premium on buyers who are not from the state, in a bid to cool speculative demand and channel funds into affordable housing schemes for locals.

PETALING JAYA (May 6): Magni-Tech Industries Bhd has announced that its wholly-owned subsidiary, Magni Land Sdn Bhd (MLSB), entered into a Sale and Purchase Agreement (SPA) yesterday (May 5) with Neoh Choo Ee & Company Sdn Bhd for the acquisition of a freehold parcel of vacant land in Bandar Tanjong Bungah, Daerah Timur Laut, Pulau Pinang for a total cash consideration of RM133.

GEORGE TOWN (May 5): The Penang Development Corporation (PDC) and Malaysia Airports Holdings Bhd (MAHB) have approved the setting up of a joint venture company, Syarikat Usahasama PILA Sdn Bhd, to implement the Penang International Logistics Aeropark (Pila) project.

GEORGE TOWN (April 24): The Penang government is not involved in the selection of the company to be awarded the contract for Package 2 of the Mutiara Line Light Rail Transit (LRT) project, as it falls under the authority of the project owner, Malaysia Rapid Transit Corporation Sdn Bhd (MRT Corp).

PETALING JAYA (April 16): ECM Libra Group Bhd has completed the disposal of Tune Hotel George Town Penang to Wealthpro Holdings Sdn Bhd for a total cash consideration of RM51,888,000.

KUALA LUMPUR (April 15): Muhibbah Engineering (M) Bhd (KL:MUHIBAH) said it has secured a subcontract worth RM120 million from Gamuda Industrial Building System Sdn Bhd under the Penang LRT Mutiara Line project.

GEORGE TOWN (April 14): Penang is currently carrying out earthworks and soil treatment for the Penang International Logistics Aeropark (Pila) project, with the first phase of the free commercial zone-class air cargo warehouse expected to be completed and operational in 2029.

GEORGE TOWN (April 13): Only part of the Sungai Nibong Festival Site will be used for the Penang Mutiara Line Light Rail Transit (LRT) project depot, with the remaining area being maintained for community use.