Penang to become economic hub of the region

Sunday, 26 December 2010 20:03

THE FEDERAL government announced Penang is to become a regional economic hub through various projects and stimulus funds. Prime Minister Datuk Seri Najib Abdul Razak said the plans are in line with the government's aim of developing the Northern Corridor Economic Region.

"Ten major infrastructure projects have been identified, including expansions of the airport, Penang Port and Penang Bridge; construction of a second bridge; and the creation of a Multimedia Super Corridor in Penang," he said at the groundbreaking of Penang Airport's passenger terminal expansion. "These initiatives will not only facilitate economic activity, but also support our national objective to increase tourism revenue from RM53 billion in 2009 to RM168 billion by 2020." Read here and here.

Elaborating further, he said, “I believe Penang has unique advantages for it to become a hub for the Northern Corridor Economic Region (NCER) and Growth Triangle comprising Indonesia, Malaysia and Thailand." Read here.

In related news, Transport Minister Datuk Seri Kong Cho Ha said that cargo traffic for the Penang Airport has risen for the first eleven months of 2010, an increase of 12% over the same period the previous year. He added, "About 3,717,625 passengers used the terminal this year between January and Novermber placing the airport in fourth rank after the Kuala Lumpur International Airport, Kota Kinabalu and Kuching airports." Read here.

CapitaMalls buys Queensbay Mall

CapitaMalls Asia Limited announced that it will purchase Queensbay Mall, the largest mall in Penang, for RM658.3mil, or RM730 per square feet of net lettable land. This purchase makes Queensbay Mall CapitaMall's second mall in Penang, and fourth in Malaysia. Read here. "The acquisition of Queensbay Mall, the largest shopping mall in Penang, will substantially strengthen CapitaMalls Asia’s market leadership in the state," said CEO Lim Beng Chee. "This acquisition signals our ongoing commitment to invest in Malaysia’s retail sector for the long-term, following our listing of CapitaMalls Malaysia Trust in July this year.” Read here.

Other news

• Four die in fire: A pre-dawn fire destroyed a two-storey shophouse in Jalan Perak, killing four members of a family. "The fire spread quickly as there were a lot of flammable items in the house, but we manage to put out the fire within 15 minutes," said Penang Fire and Rescue Department deputy director Mohd Razam Taja Rahim. Read here and here. Some say that the tragic incident should highlight the importance of a volunteer firefighting brigade, citing the efficiency of a volunteer unit based in Paya Terubong. Read here.
• Waving goodbye to bad memories: To the thousands who drive by every day, enjoying the tranquil sight and the wind in their face, Pangsapuri Masjid Terapung is just another apartment complex by the sea. Read here.
• Penang: 25 buildings, forest possible heritage sites: The National Heritage Department has identified 25 buildings and a forest in Penang for possible listing as national heritage sites, pending consent from private owners and the state government. Read here.
• A lost era of music and harmony: Some 5,000 people recently converged under a starry Batu Ferringhi night sky for the Penang Island Jazz Festival, to find themselves being indulged with some of the most charming and idyllic live music to be heard on these shores for a while now. Read here.
• Educate public on 3Rs, say plastic manufacturers: Educating the public on the importance of the 3Rs (recycle, reuse and reduce) should take top priority instead of implementing the "No free plastic bags" initiative, said the Malaysian Plastics Manufacturers Association (MPMA). Read here.
• PMR: SMK Bukit Jambul is top in Penang: Sekolah Menengah Kebangsaan Bukit Jambul has emerged as the top school in Penang for the Penilaian Menengah Rendah (PMR) examination performance this year. Read here.

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