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RM8.85B of Manufacturing Investments; Hari Raya 正面看待 joy in 槟城2030 Penang 《珍珠快讯》 pg 6-8 第3版 JUNE 16 – 30, 2019 The achievement surpassed the full RM8.85b of year investment amount of RM5.78 billion last year manufacturing - CHOW US$300 billion of Chinese exports to the US. investments; “The meeting between Trump and China’s leader Xi Jin Ping later this month is crucial. “The superb 1Q19 investment figure may not repeat itself in 2Q19 10,000 new jobs in the offing or 3Q19 but Penang’s investment Story by Christopher Tan outlook is on the right track in the Pix by Darwina Mohd Daud medium to longer term,” he said. “The Penang government, A WHOPPING RM8.85 billion through investPenang, will continue in approved investments. to focus on bringing in high quality That is the figure Penang re- investments that suit the state’s in- corded of the total approved manu- dustry profile and those that can facturing investments in Malaysia create high value jobs. in the first quarter of this year - all “We cannot control the global this despite the challenging times macro risk, but we have been pro- faced by the global economy. actively introducing initiatives to According to the Malaysian In- mitigate the impact of the US-China vestment Development Authority trade war on the overall local (MIDA), Penang successfully gar- economy,” he said. nered 41 projects amounting to Some of the initiatives include RM8.85 billion (+ 768% year-on- the signing of Memorandum of year) from January to March this Understanding with China Chamber year. of International Commerce with the The figure represents 35% of objective of promoting bilateral Malaysia’s total approved manufac- investment and economic and tech- turing investments. nological cooperation; providing a Chief Minister Chow Kon Yeow subsidised rental rates scheme for Chow (third from right) together with investPenang chief executive officer Datuk Loo Lee Lian (third from said the achievement surpassed the left) and the state executive council members (from left) Soon Lip Chee, Dr Afif Bahardin, Jagdeep Singh local small and medium-sized en- full year investment amount of Deo, Yeoh Soon Hin and Phee Boon Poh showing the thumbs up after the press conference. terprises to rent industrial space at RM5.78 billion last year. the Penang SME Centre in Bayan “The total approved manufactur- manufacturing FDI (+ 1,360% year- He added that the optimal com- mid to long run, I am cautiously Lepas; offering micro-financing ing investments in the first quarter on-year) in 1Q19. It represented bination of robust supply chain, optimistic with the near-term out- option (Skim Pinjaman Harapan) to of this year (1Q19) is expected to 42% of Malaysia’s FDI,” he told a strong talent pool, well-established look due to the latest trade war de- assist small businesses and entrepre- create 10,073 new job opportunities press conference in Komtar on June infrastructure and the state’s support velopment. neurs in Penang; establishment of in the state. 12. services to investors made Penang “There was a truce in the trade the ‘Penang Strategic Investment “Penang is the key contributor to Chow said remarkable invest- the preferred destination for invest- war in 1Q19 but the situation has Advisory Council’; and providing Malaysia’s manufacturing foreign ments in Penang included projects ments. worsened since then. United States seed fund to technology start-ups direct investment (FDI). from Micron Technology and Jabil “While Penang could be a pre- president Donald Trump has threat- that require funding to grow their “We attracted RM8.47 billion of Circuit, among others. ferred investment destination in the ened to slap tariffs on another businesses and operations. 2 NEWS June 16 – 30, 2019 BULETIN MUTIARA Malaysia-China2 celebrate 45 years of diplomatic ties Story by Christopher Tan China continuously emerged as the Chow and Lu at the reception marking the 45th anniversary of diplomatic ties between China and Malaysia. Pix by Alvie Cheng most important trading partner for Malaysia. “The ties with Penang have now China,” Chow said in his speech “It has generated much eco- MALAYSIA was the first Asean “The close ties between our included Hainan Province, Zhong- during the reception marking the nomic growth for the state,” he country to establish diplomatic countries will only continue to be shan City and Chengdu City; in 45th anniversary of diplomatic ties said. relations with China in 1974. better with Pakatan Harapan now which they have formed friendship between China and Malaysia on Chow said Penang remained Since then, the close friendship at the helm. city relations with Penang. May 31. a popular tourist destination for between Malaysia and China has “The relationship between Pen- “A consulate-general office and “Penang is the economic hub the Chinese. generated much growth, benefit- ang and China is also profound. a China Visa Application Service of the northern region in Malay- He also spoke on the state’s ting both countries. “The sister city relationship Centre have also been established sia. Our cooperation and invest- Penang2030 vision. Chief Minister Chow Kon between Penang and Xiamen City in Penang, signifying the strong ments with China have increased “The Penang2030 vision is Yeow said for the past decade, has lasted more than 20 years. bilateral ties between Penang and tremendously in the recent years. the state’s ‘direction’ for the next “More than 40 Chinese cor- 10 years. It should be the com- porations are currently operating mon vision of each and every in Penang. The Chinese invest- person who lives, works and ments in the northern region invests in Penang,” he said. have exceeded RM3.8 billion The consul-general of the from 2013 to September 2018,” People’s Republic of China in he added. Penang Lu Shiwei said both “The Chinese investments in Malaysia and China have main- the northern region amounted to tained strong diplomatic rela- RM900 million during the first tions for the past 45 years. three quarters of last year. Of this “It is because of the mutual amount, RM750 million was in political trust and mutual re- Penang. spect,” he said. Taking Penang’s tourism to greater heights A performer entertains the crowd during the launching of Experience Penang Year 2020 event. THE Penang Tourism Devel- ety of quality tourism products opment, Arts, Culture and with the aim of raising house- Heritage office has introduced hold incomes,” he said after another product to promote the launching the EPY 2020 at state’s tourism sector. Hotel Equatorial Penang in The Experience Penang Bukit Jambul. Year (EPY) 2020 was launched State Tourism Development, on June 2 to position the state Arts, Culture and Heritage at the international travel mar- Committee chairman Yeoh ket which is deemed competi- Soon Hin said the tourism in- tive. dustry would contribute sig- Chief Minister Chow Kon nificantly to the state’s growth. Yeow said the EPY 2020 was “These efforts are in line crucial for the development of with our intention to explore the state’s tourism. new opportunities,” he said. “Our services sector has Yeoh pointed out that EPY overtaken the manufacturing 2020 would start off with a sector in Penang. national beauty pageant this “To boost our tourism in- October and a world pageant dustry, we need to incorporate next year. heritage, culture and arts in our “This will definitely boost tourism products. Penang’s image in the interna- “The EPY 2020 is also in tional arena through the par- line with the Penang2030 vi- ticipation of foreign countries sion, which is to create a vari- and media,” Yeoh said. BULETIN MUTIARA June 16 – 30, 2019 NEWS 3 PBAPP3 ensures water supply security Pix by Adleena Rahayu “Our water tariff review Ahmad Radzi proposal will be scrutinised by the Penang government, THE Water, Land and Natural the National Water Services Com- Resources Ministry is seeking the mission (SPAN) and the federal federal government’s approval for government before obtaining ap- its proposed Tariff Setting Mecha- proval. nism (TSM). “Reviewing the domestic water TSM is a guideline formula that tariff will automatically reduce calculates rational and forward- PBAPP’s domestic water subsidy looking water tariffs. It compels which will free up funds for PBAPP water operators to set tariffs that to undertake its future projects. cover operational expenditure “Presently, the most critical (OPEX) for day-to-day business water supply project for the activities and capital expenditure state’s future is the Sungai (CAPEX) for funding infrastruc- Perak Raw Water Transfer Jaseni speaking to the media as Zairil looks on. ture upgrading and new infrastruc- Scheme (SPRWTS),” Jaseni told a ture projects. press conference on May 30. compared with the national aver- they conserve electricity and fuel.” Kedah and Penang’s raw water PBA Holdings Berhad “Penang’s average domestic age of 201 l/c/d in 2017,” Jaseni Jaseni also stressed on the im- needs up to 2025. (PBAHB) and Penang Water Sup- water tariff for the first 35,000 litres said. portance of tapping a second major “As such, Penang needs the first ply Corporation (PBAPP) chief per month is the lowest in Malay- “Penang’s per capita domestic raw water resource soon. phase of the SPRWTS to be com- executive officer Datuk Jaseni sia, at RM0.32 per 1,000 litres consumption was 276 l/c/d in “Penang needs to tap a second missioned by 2025,” Jaseni said. Maidinsa said the corporation was compared with the national aver- 2017. major raw water resource soon Also present were Chief Minis- still awaiting the TSM approval age of RM0.69 per 1,000 litres. “We intend to review the water because it has become over-de- ter Chow Kon Yeow, Deputy Chief before formulating a water tariff “The state’s per capita domestic tariff to raise the value of water.
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