PENANG is cautiously optimistic that it could do well again this year.
Chief Minister Chow Kon Yeow revealed that the state had recorded, what would be ‘the best total approved manufacturing investment record in 50 years’ last year (2019).
“Penang attracted RM13.3 billion of total approved manufacturing investment in January to September (up to the third quarter) last year.
“The final figure (including the fourth quarter of last year) has not been announced. I have the figure but it is embargoed, pending the announcement by the ministry and the Malaysian Investment Development Authority (MIDA).
“The investment figure shows the level of confidence of investors towards Penang.
“Investors are confident that Penang is able to grow, and there are many factors contributing to their confidence.
“It is possible that all of us here are part of the reasons why investors continue to have faith in this small state located up north of the Peninsula Malaysia,” Chow said in his speech during the Real Estate and Housing Developers’ Association Malaysia (Rehda) Penang Chinese New Year celebration at G Hotel today.
Themed ‘Rehda Penang CNY Gathering with Children from Homes’, the celebration also brought joy to 31 children from the House of Hope and the Children’s Protection Society.
Chow said Penang would continue to do well this year; in view of the many infrastructure projects that the state would be signing and begin implementation from the second half of this year.
“The projects will give a boost to the building and construction sectors. They will benefit the small and medium-sized enterprises (SMEs) and local supply chain, and make available more than 15,000 job opportunities for the rakyat,” Chow said.
Rehda Penang chairman Datuk Toh Chin Leong said a total of 4,890 units that were registered with Rehda Penang had been successfully sold during the Home Ownership Campaign 2019 (HOC 2019) last year. The total number of units sold amounting to RM3.1 billion in sales.
“For your information, there were 16,796 units registered with Rehda Penang for the HOC 2019, amounting to a total of RM15.2 billion.
“We are hoping that the Local Government and Housing Ministry can design a stimulus package in view of this challenging times for us to move forward,” he said.
State Local Government, Housing, Town and Country Planning Committee chairman Jagdeep Singh Deo said the state would continue with its efforts to ensure that there are adequate stock of affordable housing units in Penang.
Jagdeep said the two main concerns on housing issues were affordability and access to loans.
“I will review our state housing guidelines, particularly for affordable housing.
“Those of you who want to participate in (building) affordable housing, I’m telling you that there will be good news.
“But, of course, I cannot decide,” Jagdeep said.
Chow said he would be waiting for Jagdeep to present his proposals to the state executive council.
“I will extend my support towards the initiatives put up by Jagdeep and will also listen to the views of the stakeholders and Rehda,” Chow said.
Also present were Datuk Ooi Kok Seng, who is the special officer to the Finance Minister, Rehda Penang immediate past chairman Datuk Jerry Chan and the organising chairman Datuk David Fong.
Story by Christopher Tan
Pix and video by Alvie Cheng