Latest news with #ChowKonYeow
Free Malaysia Today
10 hours ago
- Business
- Free Malaysia Today
Strong investor interest, but Penang land take-up modest, says Chow
Chief minister Chow Kon Yeow launching the Penang Industrial Master Plan 2030. (Bernama pic) GEORGE TOWN : Penang chief minister Chow Kon Yeow said despite the state continuing to attract investors amid a global semiconductor boom, demand for new industrial land remains modest, with just about 100 acres (40ha) taken up each year. The state government, however, has over 2,000 acres (800ha) of industrial land earmarked for development, including sites under acquisition, reclamation or request-for-proposal stages, to ensure long-term availability for future growth. Chow was responding to a question on the availability of industrial land in the state to cater to future investors. 'At 100 acres a year, 2,000 acres will last us for decades. For example, one of our industrial parks, which spans over 1,000 acres, took more than 15 years to complete since it was initiated in 2008,' he told reporters here today. Chow said not all investors want land, adding that Chinese investors, for example, are content with taking up idle factories so they have a quick turnaround. He said these Chinese investors would rather purchase or lease existing factory sites and repurpose them instead of waiting for new land to be made available. 'They want to start quickly, so they look for idle or underutilised factories. Sometimes, these are leased or bought from companies with excess capacity,' he said. He also said there are factories with enough land to expand within their compounds, and they build new facilities there. 'These count as fresh investments, too,' he said. He said Penang recorded RM13 billion in approved investments recently, but this figure covers various areas, including brownfield sites, digital economy initiatives and existing infrastructure. Earlier, Chow launched the Penang Industrial Master Plan 2030, which will help expand and improve industrial land supply, infrastructure, and human capital, with a total of 44 projects estimated to cost RM41.2 billion. The plan covers both physical and non-physical industrial development, including zoning of new greenfield sites, upgrading existing greyfield and bluefield industrial areas, and rehabilitating brownfield sites. Greenfield areas are untouched land meant for brand-new industrial parks, while greyfield zones are older, underused sites that can be upgraded. Bluefield areas combine new development with the revitalisation of existing spaces, and brownfield sites are former industrial areas that may be polluted or abandoned, targeted for clean-up and reuse. Penang currently has 54 industrial parks and more than 8,900 manufacturing-related establishments, the majority located in Seberang Perai. Key industries include machinery and equipment, electrical and electronics, basic and fabricated metal products, and food processing technology. The plan forecasts a total of 5,310ha of industrial land available by 2030, with new zones identified for future development in Batu Kawan, Bertam, and Penang South Island (reclaimed island).
Yahoo
10 hours ago
- Business
- Yahoo
Penang has enough land to meet industrial demand for next 15 years, CM says amid RM13b in Q1 investments
GEORGE TOWN, June 20 — Penang has sufficient land to meet industrial needs in the state for the next 10 to 15 years, according to Penang Chief Minister Chow Kon Yeow. He said today there was a perception that the state is short of industrial lands but in reality, the state still has lands that can be developed for use. 'Land is not an issue, currently, we have about 809.4 hectares (2,000 acres) of land in the pipeline in varying stages of completion,' he told reporters after launching the Penang Industrial Masterplan 2030 at Eastin Hotel here. He said the Batu Kawan industrial park that is about 404.7 hectares (1,000 acres) took about 15 years to be developed since 2008. Chow said the demand for industrial land was also not that high. 'On average, about 40.47 hectares of land are needed in a year,' he said. So the 809.4 ha of land will take a long time to be filled up, he added. He explained industrial lands do not only refer to new lands but included those being reclaimed, under request for proposal process and several other development stages before it can be used. He said not all new investments require new lands, as some are reinvestments by existing plants that are merely adding new facilities in the remaining sites of their plants. 'There were also other investors such as from China who prefer to start operations as soon as possible,' he said. He said these group of investors will buy existing unused plants or lease it from the previous owner. Additionally, he said there are private developers that are constructing new factories to be sold or leased to investors. 'So, not all investors need new lands, there are so many different types of investments that contribute to the state's economy,' he said. When asked about the revenue recorded by the state as a result of the sale of industrial lands, he said the revenue generated was minimum as it was not the state's main focus. 'What's important is the value of investments being brought in,' he said. He said in the first quarter of this year, Penang recorded investments totalling RM13 billion. Meanwhile, on the industrial masterplan, Chow said it is the way forward for the state to transform the state's industrial sector and strengthen its position as the Silicon Valley of the East. He said the masterplan considered important infrastructure projects such as the Penang International Airport expansion and development of a green and smart technology hub for the electrical and electronic sector.
Malaysian Reserve
12 hours ago
- Business
- Malaysian Reserve
Chow: Penang has enough industrial land for next 10–15 years
GEORGE TOWN — Penang still has 809.4 hectares of industrial land available to support the state's economic development for the next 10 to 15 years, said Chief Minister Chow Kon Yeow. He said in addition to new sites, the available land includes areas undergoing reclamation, sites in the request-for-proposal process, and others at various stages of readiness for long-term use. 'Although there is a perception that industrial land is running out, the reality is that Penang still has a sizeable land bank that can be developed. Land is not an issue. 'For example, the Batu Kawan Industrial Park, which spans over 404.7 hectares, has taken more than 15 years to develop since 2008,' he told reporters after launching the Penang Industrial Master Plan 2030 today. He clarified that the current demand is relatively moderate, averaging around 40.4 hectares annually, and not all new investments require new land, as many investors utilise remaining space within their existing factory sites for expansion. When asked about the state's revenue from industrial land sales, Chow said the returns were minimal and not the main priority. 'What matters more is the investment value generated. For instance, in the first quarter of this year, we recorded RM13 billion in total investments in various forms, including new land acquisitions, existing factories, digital investments and more,' he said. Meanwhile, Chow said the state government plans to establish Centralised Labour Quarters (CLQs) within industrial areas to accommodate demand for foreign labour, as part of the newly launched Penang Industrial Master Plan 2030. 'We're taking a holistic approach because industrial development goes beyond just land. It requires supporting infrastructure such as utilities, talent, ports, airports and also well-planned CLQs or worker dormitories within industrial zones,' he said. Chow described the master plan as a timely move to drive the transformation of Penang's industrial sector and strengthen the state's position as a preferred investment destination in the region. He said the plan also takes into account key infrastructure projects such as the expansion of the Penang International Airport and the development of green and smart technology hubs to support the electrical and electronics sector. The Penang Industrial Master Plan 2030 outlines three core pillars, supported by nine high-impact projects, as well as short-term initiatives that include seven quick wins and 28 supporting projects. — BERNAMA
Sinar Daily
14 hours ago
- Business
- Sinar Daily
Penang has enough industrial land for next 10-15 years
The available land includes areas undergoing reclamation, sites in the request-for-proposal process and others at various stages of readiness for long-term use. 20 Jun 2025 03:30pm Penang has 809.4 hectares of industrial land available for development over the next 10 to 15 years, ensuring the state can continue to support economic growth and attract new investments. - Bernama file photo GEORGE TOWN - Penang still has 809.4 hectares of industrial land available to support the state's economic development for the next 10 to 15 years, said Chief Minister Chow Kon Yeow. He said in addition to new sites, the available land includes areas undergoing reclamation, sites in the request-for-proposal process, and others at various stages of readiness for long-term use. With the launch of the Penang Industrial Master Plan 2030, the state is strategically preparing for future development by planning infrastructure like Centralised Labour Quarters and expanding the airport, aiming to solidify its position as a top investment destination. - Bernama file photo "Although there is a perception that industrial land is running out, the reality is that Penang still has a sizeable land bank that can be developed. Land is not an issue. "For example, the Batu Kawan Industrial Park, which spans over 404.7 hectares, has taken more than 15 years to develop since 2008," he told reporters after launching the Penang Industrial Master Plan 2030 today. He clarified that the current demand is relatively moderate, averaging around 40.4 hectares annually, and not all new investments require new land, as many investors utilise remaining space within their existing factory sites for expansion. When asked about the state's revenue from industrial land sales, Chow said the returns were minimal and not the main priority. "What matters more is the investment value generated. For instance, in the first quarter of this year, we recorded RM13 billion in total investments in various forms, including new land acquisitions, existing factories, digital investments and more,' he said. Meanwhile, Chow said the state government plans to establish Centralised Labour Quarters (CLQs) within industrial areas to accommodate demand for foreign labour, as part of the newly launched Penang Industrial Master Plan 2030. "We're taking a holistic approach because industrial development goes beyond just land. It requires supporting infrastructure such as utilities, talent, ports, airports and also well-planned CLQs or worker dormitories within industrial zones,' he said. Chow described the master plan as a timely move to drive the transformation of Penang's industrial sector and strengthen the state's position as a preferred investment destination in the region. He said the plan also takes into account key infrastructure projects such as the expansion of the Penang International Airport and the development of green and smart technology hubs to support the electrical and electronics sector. The Penang Industrial Master Plan 2030 outlines three core pillars, supported by nine high-impact projects, as well as short-term initiatives that include seven quick wins and 28 supporting projects. - BERNAMA
The Sun
14 hours ago
- Business
- The Sun
Penang has enough industrial land for next 10–15 years, says Chow
GEORGE TOWN: Penang still has 809.4 hectares of industrial land available to support the state's economic development for the next 10 to 15 years, said Chief Minister Chow Kon Yeow. He said in addition to new sites, the available land includes areas undergoing reclamation, sites in the request-for-proposal process, and others at various stages of readiness for long-term use. 'Although there is a perception that industrial land is running out, the reality is that Penang still has a sizeable land bank that can be developed. Land is not an issue. 'For example, the Batu Kawan Industrial Park, which spans over 404.7 hectares, has taken more than 15 years to develop since 2008,' he told reporters after launching the Penang Industrial Master Plan 2030 today. He clarified that the current demand is relatively moderate, averaging around 40.4 hectares annually, and not all new investments require new land, as many investors utilise remaining space within their existing factory sites for expansion. When asked about the state's revenue from industrial land sales, Chow said the returns were minimal and not the main priority. 'What matters more is the investment value generated. For instance, in the first quarter of this year, we recorded RM13 billion in total investments in various forms, including new land acquisitions, existing factories, digital investments and more,' he said. Meanwhile, Chow said the state government plans to establish Centralised Labour Quarters (CLQs) within industrial areas to accommodate demand for foreign labour, as part of the newly launched Penang Industrial Master Plan 2030. 'We're taking a holistic approach because industrial development goes beyond just land. It requires supporting infrastructure such as utilities, talent, ports, airports and also well-planned CLQs or worker dormitories within industrial zones,' he said. Chow described the master plan as a timely move to drive the transformation of Penang's industrial sector and strengthen the state's position as a preferred investment destination in the region. He said the plan also takes into account key infrastructure projects such as the expansion of the Penang International Airport and the development of green and smart technology hubs to support the electrical and electronics sector. The Penang Industrial Master Plan 2030 outlines three core pillars, supported by nine high-impact projects, as well as short-term initiatives that include seven quick wins and 28 supporting projects.
