LONG-standing local enterprises remain a vital pillar of Penang’s identity and economic resilience, Chief Minister Chow Kon Yeow said during the launch of Heritage Brands of Penang at the Eastern and Oriental Hotel.
Chow said the publication arrives at a meaningful time as the state positions itself in a rapidly evolving regional and global economy.
“When we speak about Penang, we often refer to its diversity, culture and history. These are lived realities expressed through people, communities and businesses that have served generations of Penangites,” he said.
He noted that many of the brands featured in the book began as small, family-run enterprises and grew through resilience and adaptation.
“What stands out is their ability to adapt while holding on to a clear sense of identity. That balance requires discipline, courage and conviction,” he said, adding that heritage should not be viewed as something fixed in the past but as something actively carried forward.
Chow stressed that economic development must go beyond attracting new investments, and include strengthening long-standing local enterprises.
“Heritage brands contribute quietly but meaningfully to our economy. They support livelihoods, build trust and strengthen Penang’s identity as a place with depth and character,” he said.
He added that the stories documented in the book also serve as inspiration, particularly for young people to explore entrepreneurship.
“I would like to encourage more Penangites, especially our young people, to consider entrepreneurship. Be willing to take risks. Sometimes, you simply have to take that first step and just do it,” he said.
Chow shared that 1,081 micro, small and medium enterprises (MSMEs) in Penang have participated in capacity-building programmes to transition towards Industry 4.0, in line with the Penang2030 vision of building an advanced and innovative economy.
The publisher was Penang Institute, and its executive director Datuk Ooi Kee Beng, was also present during the event earlier.
Meanwhile, Entrepreneur Development and Cooperatives Minister Steven Sim Chee Keong highlighted Penang’s long-standing role as a commercial hub and the importance of evolving heritage businesses in today’s challenging global landscape.
He described the current environment as a “two-in-one global conflict” involving both conventional war and economic decoupling, which requires businesses to move towards higher value creation and innovation.
Sim noted that Penang accounts for about seven per cent of global semiconductor trade and 13 per cent of global semiconductor back-end production, underscoring the state’s strong economic foundation.
He also outlined the government’s commitment to support businesses through the “Power Up 10,000” campaign, which aims to mobilise up to RM15 billion in low-cost financing, train 100,000 entrepreneurs and help 10,000 businesses scale up.
“Heritage businesses should evolve using modern technology and value-added approaches. We invite SMEs and heritage brand owners to utilise government financing, training and programmes to scale and transition towards Penang 3.0,” he said.
Author of Heritage Brands of Penang, Datuk Tony Yeoh, said the book celebrates businesses that began with humble beginnings and grew into enduring institutions.
He expressed admiration for founders who built lasting enterprises and emphasised the responsibility of succeeding generations to continue their legacy.
“We salute businesses that have endured for over 50 years for their resilience, innovation and commitment to their founders’ values,” he said.
Tony also stressed the need for Malaysian companies to invest more in branding and move from being original equipment manufacturers to building their own global brands.
The book documents 59 heritage brands, highlighting their journeys and contributions to Penang’s cultural and economic landscape, while inspiring future entrepreneurs to continue building the state’s legacy.
Celebrated in a grand manner, the launch was attended by friends from afar and near, marking a meaningful moment in the most special way possible.
Story by Kevin Vimal
Pix and video by Alissala Thian