04-08-2025
AmBank grants RM222.8mil for Penang green industrial park
KUALA LUMPUR: AmBank Group, via AmBank Islamic Bhd, has extended RM222.8mil in financing to Suling Hill Development Sdn Bhd.
The company is a 50:50 joint venture between Northern Industrial Park Sdn Bhd, a wholly-owned subsidiary of AME Elite Consortium Bhd, and Majestic Gen Sdn Bhd.
The financing supports the development of Northern TechValley @ BKE, a 175.6-acre freehold green industrial park in Suling Hill, Seberang Perai Tengah, Penang.
The project marks AME's entry into northern Malaysia, bringing its award-winning green industrial concept to the region.
With a projected GDV of RM1.3bil, Northern TechValley is set to be a next-generation integrated industrial ecosystem. Northern TechValley @ BKE integrates sustainability across its design, emphasising community well-being and environmental stewardship.
'This financing reflects our commitment to support Malaysia's industrial and economic growth, especially in key northern regions. We are proud to partner with reputable groups like AME and Majestic Gen – and to play a role in building future-ready infrastructure for the country,' AmBank managing director, business banking Christopher Yap said in a statement.
Meanwhile, Suling Hill Development director Dylan Tan said the joint venture marks a significant milestone for AME as the group strategically expands its presence into the northern region.
'Northern TechValley @ BKE extends AME's proven expertise in developing and managing sustainable industrial parks to Penang. The project will deliver a future-ready ecosystem that meets modern industrial demands and supports the growth of both local and multinational businesses,' Tan said.
