Deputy Finance Minister Liew Chin Tong has proposed that Malaysia establish a one-stop centre for semiconductor and deep-tech financing, offering integrated financing solutions in the heart of the country’s technology cluster.

He said the move would help turn the technology cluster into Malaysia’s true Silicon Valley by bridging the gap between deep tech and capital.

“Our ambition is for Penang and its neighbouring Kulim to take their place alongside Silicon Valley, Taiwan’s Hsinchu, and the Netherlands’ Brainport Eindhoven as a premier global tech cluster,” he said.

Liew said the one-stop centre could support themes, and not only single names, inviting investors to back a well-governed national story built on trust in Malaysia’s regulatory framework.

“Therefore, I would like to invite industry and capital market players and regulators to share your thoughts on this,” he said in his opening address at The Edge-HSBC E&E Symposium 2026: The Value Chain Shift, yesterday.

Liew also called on the capital market to view Malaysia as a technology nation rather than just a trading nation and to take the country’s tech stocks more seriously.

“Therefore, a warm invitation to the venture and private capital community to come upstream and onwards with us, into design and intellectual property, where the greatest value is created.

“To our market institutions, help (us) deepen liquidity, extend ratings coverage, and fuel the growth of this (semiconductor) sector,” he added.

According to Liew, electrical and electronics (E&E) products account for 40 per cent of Malaysia’s national exports, the largest share of any category.

He said that, apart from China and Taiwan, around 13 per cent of global semiconductor assembly and testing is carried out in Malaysia.

Source: Bernama

M Amaya is a freehold serviced apartment development within the Southbay City township in Batu Maung. Developed by Vienna View Development Sdn Bhd, a wholly owned subsidiary of Mah Sing Group Berhad, the project comprises 833 residential units with built-up sizes ranging from 721 sq ft to 1,432 sq ft. Offering a selection of layouts designed for different household sizes.

Located at the southern tip of Penang Island, M Amaya enjoys proximity to key infrastructure and employment hubs in the Bayan Lepas corridor. The development is situated near the Penang Second Bridge and offers convenient access to the Penang International Airport, Bayan Lepas Free Industrial Zone, Sungai Nibong Bus Terminal, Pantai Hospital Penang and the upcoming Silicon Island. Educational institutions such as Straits International School are also within the surrounding area, while the Southbay waterfront setting places residents close to recreational and lifestyle amenities.

Residents will have access to a range of facilities catering to recreation and community living, including a swimming pool, children’s pool, gymnasium, multipurpose hall, family garden, event lawn, barbecue area, café and convenience store, as well as dedicated drop-off and parcel locker facilities. The development also incorporates practical features such as multi-tier security, EV charging provisions and shuttle bus services to Queensbay Mall, the LRT station and Penang International Airport.

Project Name : M Amaya
Location : Southbay City, Batu Maung
Property Type : Serviced residence
Tenure: Freehold
Land Area: (to be confirmed)
Built-up Size: 721 sq.ft. – 1,432 sq.ft.
Total Units : 833
Indicative Price : RM480,000 onwards
Developer : Mah Sing Group

The Seberang Perai Local Plan 2030 (Rancangan Tempatan Seberang Perai 2030) is expected to be gazetted by October this year, marking a significant milestone in guiding the mainland’s future growth and becoming Penang’s first gazetted local plan.

Chief Minister Chow Kon Yeow said the plan will provide a comprehensive framework for physical development, enabling more efficient land use while balancing economic growth with the needs of local communities.

Speaking after officiating the upgrading of the Taman Mangga public recreational park, Chow said the gazettement would serve as a key reference for future development, ensuring Seberang Perai evolves into a well-planned and sustainable urban area with orderly land use and balanced development.

He said the public exhibition process for the local plan has been completed, with the state government now entering the final stage before gazettement.

Once gazetted, applications for land use rezoning will be subject to a more structured and transparent planning process. While rezoning applications will still be permitted, they will no longer be considered on an ad hoc basis. Instead, proposals will have to comply with statutory procedures, including public exhibitions and public hearings.

Chow said the state also plans to review rezoning applications collectively, rather than individually as they are submitted. The reviews are expected to be conducted once every one or two years after a sufficient number of applications have been received.

According to him, the new approach will provide greater certainty and consistency in planning decisions while improving the overall management of development across Seberang Perai.

On the Draft Penang Island Local Plan 2030, Chow said the document is currently being revised after shortcomings were identified in an earlier draft. The revised plan will still need to undergo a public exhibition before moving to the next stage of the statutory planning process.

He expressed confidence that the Penang Island Local Plan would be completed well before 2030, possibly within the next year.

Chow described the completion and impending gazettement of the Seberang Perai Local Plan as a major achievement after years of planning, noting that it would provide greater clarity and confidence for developers, investors and the public while supporting more sustainable and coordinated development across the mainland.

Astaka Kota Selera at Fort Cornwallis has been named Building of the Year 2026 and received the Gold Award in the Commercial Low-Rise category at the Pertubuhan Akitek Malaysia (PAM) Awards 2026, highlighting the project’s success in blending contemporary public infrastructure with heritage conservation.

Chief Minister Chow Kon Yeow said the recognition underscores Penang’s commitment to delivering public developments that strike a balance between architectural excellence, environmental sustainability and community needs.

He noted that the achievement reflects years of planning under the North Seafront programme of the Strategic Master Plan George Town, which began in 2017. Despite a construction cost of about RM3.35 million, the project demonstrates how thoughtfully planned developments can deliver significant public value.

Redeveloped as part of the Fort Cornwallis Moat Restoration and Conservation Project, Astaka Kota Selera transformed a traditional public food court into a more organised, comfortable and accessible dining destination while preserving the historical character of its surroundings. The upgraded facility now accommodates 26 food stalls and up to 224 diners, with amenities including a surau, public toilets and barrier-free access.

According to Chow, the low-rise architectural design was carefully conceived to complement Fort Cornwallis and the surrounding George Town UNESCO World Heritage Site. The incorporation of red brick elements helps maintain the visual identity of the historic precinct, illustrating how new developments can coexist harmoniously with heritage assets.

The project also integrates a green roof under the Penang Nature-Based Climate Adaptation Programme (PNBCAP), led by Think City, as part of efforts to mitigate the urban heat island effect and enhance climate resilience in the city.

Chow said the award recognises the capabilities of local architects and industry professionals in delivering projects that combine functionality, aesthetics and environmental considerations. He expressed hope that Astaka Kota Selera would serve as a benchmark for future public developments across the state.

“I am confident that through close collaboration between the state, Chief Minister Incorporated (CMI), the Penang Island City Council (MBPP) and our strategic partners, more high-quality development projects can be realised to further strengthen Penang’s position as a progressive, liveable and sustainable state,” he said.

The project is owned by Chief Minister Incorporated (CMI) and was designed by EA Architects Sdn Bhd.

Proposed luxury residential development on a roughly 0.6-acre site along Jalan Kelawai, near Gurney Drive. The site, currently used as a car park, is located between Acacia and 99 Kelawai Apartment, directly opposite Gurney Paragon Mall. The area is surrounded by established upscale neighbourhoods and high-rise residences, one of Penang Island’s most mature and sought-after urban districts.

The development will comprise a 26-storey block featuring 50 condominium units, supported by a six-storey parking podium. This represents a relatively low-density residential component compared to other high-rise developments in the vicinity, despite being situated on a relatively small parcel of land.

The project is still pending approval, and further details will be made available upon its official launch.

Project Name: (to be confirmed)
Location : Gurney Drive
Property Type : Condominium
Land Area: 0.6 acres
Total Units : 50
Built-up Size: (to be confirmed)
Land Tenure : (to be confirmed)
Indicative Price : (to be confirmed)
Developer : (Follow us to find out more)

DISCLAIMER: This article is solely based on research done using publicly available data at the time of publication. This is not an advertisement. Any claim, statistic, quote or other representation about a project or service should be verified with the developer, provider or party in question.