Penang’s historic seafront stretching from Swettenham Pier Cruise Terminal (SPCT) to Tanjung City Marina (TCM) is set to undergo a major transformation under a long-term plan to create a commercial waterfront promenade, Transport Minister Anthony Loke Siew Fook said.

Speaking after the launch of the Penang Port Commission’s 70th anniversary at the E&O Hotel, Loke said the redevelopment aims to revitalise run-down areas including TCM, Church Street Pier and old godowns along the waterfront.

Under the vision, cruise passengers arriving at SPCT will be able to walk seamlessly along the seafront to Padang Kota Lama and onwards to TCM. The promenade will feature cafes, al-fresco dining, food and beverage outlets, galleries and other visitor-oriented uses, turning the area into an active public space.

Loke described SPCT as a “crown jewel”, noting that it is the only cruise terminal in Malaysia located within a city centre and heritage zone. He said the government intends to strengthen SPCT’s role as a home port for international cruise liners, while enhancing the surrounding area as a welcoming promenade for both tourists and locals.

The project, however, will require close coordination between multiple stakeholders, including the Penang state government, PPC, the Transport Ministry, Railway Asset Corporation (RAC) and Penang Port Sdn Bhd (PPSB).

While the state government has already completed the promenade at Padang Kota Lama, Loke said the next step is to extend the walkway to SPCT, and eventually to TCM and the ferry terminal to create a fully walkable waterfront. However, he cautioned that the section linking SPCT to the ferry terminal cannot proceed until the seawall is strengthened to ensure public safety, a process that will require significant capital expenditure.

Given the scale of investment needed, Loke said the federal government will only proceed if the project offers viable commercial returns. To that end, the private sector will be invited to develop the area, although no permanent structures will be allowed as the site must remain within a heritage zone.

Loke also revealed plans to redevelop the former Menara Kastam building opposite TCM, which is owned by RAC, into a boutique hotel. Describing the building as currently rundown, he said approvals have already been signed, with further announcements expected soon.

Image: Google Street View

Enforcement of newly designated no-parking zones in George Town has yet to begin, as studies on the identified locations are still ongoing, according to A. Rajendran.

The mayor of the Penang Island City Council (MBPP) said three areas have been identified so far, with the possibility of more locations being added after further assessment. The areas currently under study are Jalan Hutton between Jalan Transfer and Jalan Penang; Lebuh Chulia between Lebuh Pantai and Jalan Masjid Kapitan Keling; and the Air Itam Market area along Jalan Paya Terubong.

Rajendran said MBPP’s Engineering Department has been instructed to continue evaluating other potential locations and to incorporate feedback from relevant stakeholders before any enforcement takes place. He added that the council will engage assemblymen, business operators and residents in the affected areas as part of the consultation process.

He stressed that the studies are focused mainly on key roads used to enter and exit George Town, where congestion could significantly disrupt traffic flow. In the southern part of the island, major routes under review include Jalan Jelutong and Jalan Sultan Azlan Shah. In the central area, roads such as Datuk Keramat, Air Itam and Paya Terubong are also being assessed.

In the northern area, Rajendran said roads including Jalan Hutton, Jalan Larut, Jalan Sultan Ahmad Shah, Persiaran Gurney and Jalan Burma are among those being examined. These corridors serve as primary access routes into and out of the city, and even a single illegally parked vehicle could trigger serious congestion.

He said MBPP would only announce an enforcement date once all studies are completed and consultations concluded. Earlier, Rajendran witnessed the swearing-in of two new MBPP councillors, Mohamed Yusoff Mohamed Noor and Mohamad Khairani Abd Shukor.

Sunway Bhd has proposed a conditional voluntary take-over offer to acquire all shares in IJM Corp Bhd at RM3.15 per share, valuing IJM at about RM11 billion if the offer is fully accepted.

In a filing with Bursa Malaysia, Sunway said the offer covers 3.505 billion IJM shares in issue, excluding treasury shares. Sunway currently does not own any IJM shares.

Under the proposed structure, accepting shareholders will receive 10% of the offer price in cash, amounting to RM0.315 per IJM share, with the remaining 90% or RM2.835 to be settled through newly issued Sunway shares priced at RM5.65 each. For example, an IJM shareholder holding 1,000 shares would receive RM315 in cash and 501 new Sunway shares. Cash amounts will be rounded down to the nearest sen, while fractional Sunway shares will be rounded down to the nearest whole share.

The offer is conditional on Sunway securing acceptances that result in it holding more than 50% of IJM’s voting shares by the closing date. It is also subject to regulatory approvals, including Bursa Securities’ approval for the listing of the new Sunway shares and approval from Sunway shareholders at an extraordinary general meeting.

Sunway said the RM3.15 offer represents a premium of between 14.55% and 27.99% over IJM’s last traded price and selected volume-weighted average prices up to Jan 9. The group said the proposed acquisition would combine the strengths of both companies, creating a larger property and construction group with stronger scale and resilience amid challenging macroeconomic conditions.

If IJM fails to meet public shareholding spread requirements after the offer, Sunway may seek to delist the company. Should acceptances reach at least 90%, Sunway intends to invoke compulsory acquisition provisions under the Capital Markets and Services Act 2007.

Sunway said IJM would continue operating as a separate subsidiary, with no immediate plans for major restructuring or workforce reductions, while an integration committee would later assess potential operational synergies.

Taman Sinar Putra, a freehold landed residential development by IMG Incorporated Sdn. Bhd. (a subsidiary of Oriental Max Group) in Nibong Tebal. Located near the main federal trunk road connecting Penang and Perak (Route 1), less than 2km away from Penang/Perak border. It is surrounded by several mature communities, namely Taman Sinar, Taman Seri Acheh and Taman Fajar.

The development comprises 141 units of 2-storey landed houses with a community hall:

• 2-storey terrace (116 units)
• 2-storey semi-detached (22 units)
• 2-storey bungalow (3 units)

Project Name : Taman Sinar Putra
Location : Nibong Tebal
Property Type : Residential
Tenure: (to be confirmed)
Built-up Size: (to be confirmed)
Total Units: 116 (terrace), 22 (semi-d), 3 (bungalow)
Indicative Price : RM568,000 onwards
Developer : IMG Inforporated Sdn. Bhd. (Oriental Max Group)

About Avion Residence

Avion is a serviced residence project by Rackson Group in Bayan Lepas, located opposite Penang International Airport and part of the Penang Gateway development. It comprises a 36-storey commercial building with 608 serviced suites above an eight-level car park, with unit sizes ranging from 488 sq ft to 1,328 sq ft. The project includes a proposed link bridge to the future LRT station at the airport and will also accommodate a Le Méridien hotel within the same building.

*Photo taken in Dec 2025

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