FMM-OCBC HERITAGE WALK 2018

SPEECH BY CHIEF MINISTER OF PENANG

FMM-OCBC HERITAGE WALK 2018

1 July 2018, Beach Street, Penang

YBhg. Dato’ Dr Ooi Eng Hock, Chairman of FMM Penang Branch

YBhg. Dato’ Khoo Cheok Sin, Immediate Past Chairman, FMM Penang Branch

YBhg. Dato’ Jimmy Ong, Organising Chairman, FMM Heritage Walk 2018

YBhg. Dato’ Ong Eng Bin, CEO, OCBC Bank (Malaysia) Berhad (the main sponsor)

Yang Berhormat Jagdeep Singh Deo, State Exco Member of Local government, Housing and Urban & Rural Planning Committee

Yang Berhormat Yeoh Soon Hin, State Exco Member of Welfare, Caring Society and Environment Committee

Yang Berusaha AR. Yew Tung Seang, Mayor of City Council of Penang Island

Members of the Press

Ladies & Gentlemen,

A very good morning to all of you.

Congratulations, Federation of Malaysia Manufacturer (FMM) Penang Branch. You did it again! Look at the crowd! I was told that there are 3500 participants here. In 2016, the crowd was about 2500. This is really fantastic! Well done!

The State Government hopes that FMM Penang Branch together with their sponsors will continue to organise this worthy event in support of the under-privileged.

It is heartening to see the Rakyat of all walks of life coming together to participate in this worthy cause to financially help the under-privileged. I know many of the charitable organisations are facing many challenges to continue with their operations due to inflation and the high cost of living.

Penangnites are known for their generosities. Of course, I have heard of comments that Penangnites are “kiam siap”. But when it comes to helping others, Penangnites are not “kiam siap” at all. Look at the amount of funds raised. RM500K is a lot of money and it will be well spent. Twenty-three charitable organizations will be benefiting from this fund. The Penang Future Foundation which was set up by the State Government to provide financial assistance to the under-privileged students will be benefitting RM100K from this fund. This will enable more eligible students to further their studies and this will also further assist the State Government in talent building. Thank you FMM, OCBC and all other sponsors who have made this possible.

Ladies & Gentlemen, let’s give ourselves a big hand!

As all of us know, our beloved country is currently going through some tough times. There are many issues that the State and especially the Federal Governments need to critically address. Our national debt is our biggest concern. The figures are mind boggling. To many of us, we cannot imagine the amount of debt that Malaysians have to pay in the generations to come.

I fully agree with Dato’ Dr Ooi that the Rakyat must stand united in facing these crises together. In unity, we have strength to overcome the odds. In unity, we will function as one Malaysian race and regain our national pride in overcoming all the obstacles that are thrown our way.

The State Government will continue to implement some of the projects under the Penang Transport Master Plan. Projects like the paired roads from Jalan Kampong Pisang in Ayer Itam and connecting with the Tun Dr Lim Chong Eu Expressway in Gelugor, the LRT and reclamations of three islands in the Southern Coast of Penang Island will be implemented once they are approved by the relevant authorities and the Federal Government.

We are also looking into the flood mitigation measures like building barrages, constructing pump houses, retention ponds, collector drains along the river, deepening of rivers and the raising of bunds. These measures are expected to be completed in three and a half years.

Ladies & Gentlemen,

While looking into the measures to resolve the local issues, the State Government is also working hard with the Malaysian Investment Development Authority (MIDA) to attract more FDIs into Penang. In the MIDA's 2017 Annual Performance Report, Penang emerged as the second top recipient of total manufacturing investment among the states valued at RM10.8billion. However, Penang had the highest approved manufacturing Foreign Direct Investments (FDI) valued at RM8.5billion, which was an increase of 180% compared to 2016.

Again, in 2017, Penang recorded a continuous growth of domestic manufacturing investment, valued at RM2.3billion. An increase of 84%, compared to 2016. In the past 20 years that is from 1998 to 2017, our top three FDI sources came from the United States, Germany and Japan.

In addition, the State Government has developed the local entrepreneurial and tech-up ecosystem of USD1 million in the “Penang i4.0 Seed Fund”. The objective of this fund is to provide funding for qualified high potential early stage technology startups and to enhance the growth of Penang’s tech ecosystem.

Other initiatives are the Penang Automation Cluster where the large local automation companies will channel RM90 million of business to the SMEs. There is also the rental incentive of 50% for the SMEs at the Penang SME Centre.

Ladies & Gentlemen,

Now that Pakatan Harapan has captured Putrajaya, I urge you, the Penangnites, to assist and collaborate with the State Government to take our beloved Penang State to the next level.

I would like to encourage the FMM Penang Branch to continue playing the vital role in the growth of the manufacturing sector in Penang. I take my hat off to FMM for the many significant roles they play in the overall growth of Penang.

I also wish to congratulate FMM on your initiative to incorporate the “Plog Clean” programme into your Heritage Walk. Each of you who have participated in the walk will hopefully promote the “Plog Clean” to your families, your own neighbourhood and communities around you. If 80% of Penangnites are into “Plog Clean”, Penang will be known as the cleanest city in the world.

It is commendable for FMM and OCBC to collaborate in this CSR venture through the Heritage Walk. Both organisations share the same rich synergistic relationships so essential for the manufacturing industry and businesses to thrive and grow since the early 20th century.

OCBC Bank’s heritage in Malaysia can be traced back almost a century with its Penang branch having existed since 1917 as part of the then Ho Hong Bank. This bank later merged with Overseas Chinese Bank and Chinese Commercial Bank to become OCBC Bank in 1932. Today, I am pleased to note that OCBC Bank is poised to become even more entrenched in our local community.

With this, I congratulate all the participants for completing the 5km walk and to the organizers, once again, congratulations. This is a job well done.

Thank you.