TT Vision signs RM25mil lease deal with PDC
'The proposed lease will allow for the construction of a new manufacturing facility mainly for the production of manufacturing equipment for semiconductor, solar and battery that will contribute a new revenue stream for the group.
'The setting up of the manufacturing facility will also contribute towards the improvements in the socio-economic environment by creating job opportunities for the employment market in Penang.'
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Free Malaysia Today
4 days ago
- Free Malaysia Today
Penang to receive treated water from Perak by 2031
Chief minister Chow Kon Yeow said more water is needed, especially when the Penang Development Corporation is opening up more areas for industries. (Johnshen Lee pic) GEORGE TOWN : Penang chief minister Chow Kon Yeow says negotiations for the Perak‑Penang water project will begin soon, with the cross‑border supply expected to be operational by 2030 or 2031. 'The negotiations with Perak will commence very soon, and then the project will be implemented. The target is 2030 to 2031,' he told reporters on the sidelines of the 'GBS by the Sea' launch here today. 'We will be able to receive a few hundred million litres of water supply per day, which is good news for the Penang Development Corporation (PDC), as it opens up more areas for industries,' he said. He noted that 'one or two big investors' require large tracts of land, which means the state must work harder to provide supporting infrastructure such as water, power, roads, and bridges. In July, it was reported that Perak had agreed to sell treated water to Penang under the project. The original plan involved transferring raw water from Perak, but the current proposal is for Perak to build a treatment plant and send treated water instead. Penang's main water source, Sungai Muda, is projected to dry up by 2030. On a separate matter, Chow urged Putrajaya to leverage Malaysia's Asean chairmanship to negotiate a better deal than the final 19% tariff imposed by the US on some Malaysian exports. 'Although all the details are not finalised yet, there is still an opportunity to negotiate better deals,' he said, adding that more clarity is expected by December.
The Sun
4 days ago
- The Sun
Penang launches RM296m GBS By The Sea in Technoplex Bayan Lepas
GEORGE TOWN: Penang continued to cement its status as a global business and technology hub with the official launch of 'GBS By The Sea', a landmark RM296 million development located in Technoplex Bayan Lepas. Penang Chief Minister Chow Kon Yeow hailed the project as a bold statement and a clear example of Penang's transition into a knowledge-based, innovation-driven economy. He said GBS By The Sea is the fourth project under the global business services (GBS) initiative, spanning 290,000 square feet (sq ft) of space. 'The GBS By The Sea facility is already fully occupied, with three global industry leaders, namely Advanced Micro Devices Global Services (AMD), Celestica Platform and Cloud Solutions Malaysia and the Microsoft Knowledge Capital Centre. 'These global companies are not only investing in Penang, but they are also creating over 1,000 quality jobs for our local talent in areas like research and development (R&D), engineering, digital services and more. These are the kind of high-value, future-ready jobs that we want for Penangites,' he said during the GBS By The Sea launching ceremony in Bayan Lepas today. Also present at the ceremony were State Infrastructure, Transport and Digital Committee chairman Zairil Khir Johari, Majlis Bandaraya Pulau Pinang (MBPP) Mayor Datuk A Rajendran and Penang Development Corporation (PDC) chief executive officer Datuk Aziz Bakar. Chow elaborated that the facility is not just a workplace but also equipped with a gym, cafeteria and a six-storey car park with 800 bays. He emphasised that GBS would play a vital role in Penang's next chapter, moving from being a manufacturing hub to becoming a knowledge-based and tech-forward economy. 'Projects like GBS By The Sea help us make that transition not just in words, but in real ways that matter to businesses and workers. 'With the announcement of 13th Malaysia Plan (13MP), which puts a strong focus on the transition to 'Made by Malaysia' and aims for higher growth and higher value creation, GBS By The Sea fits perfectly into this big picture - it's local, it's future-focused, and it brings value,' he said. Chow also announced that PDC is already working on its fifth GBS project, namely 'GBS at Technoplex', a RM500 million development offering over 400,000 sqft of space. He said that even though construction has not been completed, 16 per cent of the building has already been pre-booked by tenants, reflecting strong demand and high confidence in Penang's potential. - Bernama
New Straits Times
5 days ago
- New Straits Times
Penang CM: Business as usual at PDC amid MBI probe
GEORGE TOWN: It is business as usual at the Penang Development Corporation (PDC), the state's main development agency, Chief Minister Chow Kon Yeow said. He said this when asked if PDC's accounts had been frozen pending investigations into the into the Mobility Beyond Imagination (MBI) investment scheme. "Ask the police. Ask far as I know, PDC is still operating as usual. "For other details, please ask the police. I, myself, have no information. It is not my responsibility to answer," Chow, who is PDC chairman, told newsmen here today. Officers from the Bukit Aman Special Task Force on Anti-Money Laundering (AMLA) visited PDC headquarters on July 9, as part of a nationwide investigation into the MBI investment scheme. The visit was aimed at tracing financial flows possibly linked to the scheme. The transactions involved the Bayan Mutiara development, where a company linked to MBI became the major shareholder in 2018. Chow had repeatedly said that PDC was not the subject of the investigation, but assisting as a stakeholder involved in earlier commercial transactions that might be relevant to the probe. Home Minister Datuk Seri Saifuddin Nasution Ismail confirmed that enforcement efforts were discussed by Prime Minister Datuk Seri Anwar Ibrahim and Chinese President Xi Jinping during Xi's visit in April.
