THE OFFICIAL LAUNCH OF THE FUND-RAISING CAMPAIGN

Posted in Dari Meja Ketua Menteri

SPEECH BY CHIEF MINISTER OF PENANG
AT THE OFFICIAL LAUNCH OF THE FUND-RAISING CAMPAIGN

ON 23TH FEBRUARY 2019

A very warm Sat Sri Akal to all my Sikh brothers and sisters

YB Jagdeep Singh Deo,
Penang State Executive Councillor (EXCO),

Dato Mahinder Singh Dulku,
Chairman of the Conservation and Restoration Committee,

Mr Daljit Singh,
President of the Wadda Gurdwara Sahib,

YB Daniel Gooi,
ADUN for Pengkalan Kota,

Distinguished guests and the congregation of the Gurdwara

It is indeed a great pleasure to have been invited by the Conservation and Restoration Committee of the Wadda Gurdwara Sahib to officiate the launch of the Fund-Raising Campaign to raise funds for the conservation and restoration of this historic religious building.

This is my first official visit to the Gurdwara as Chief Minister and I take this opportunity to further strengthen my ties with the Sikhs and take warm memories with me.

I understand that this is one of the foremost and earliest Gurdwaras in the country having been first set up in Fort Cornwallis. The present Gurdwara was founded in 1901 in commemoration of the 60th anniversary of Her Majesty Queen Victoria’s reign.

For the present government administration, the significance of this building lies not only in its religious and heritage status but also in the fact that one of our own icons, the late Y.B Karpal Singh had walked, played and studied in this august institution during his formative years.

It is clear that the building has suffered the ravages of time and needs to be returned to its past glory. The present government of Penang is in total support of maintaining and enhancing the status of heritage buildings and will provide aid within its means to ensure that such buildings are restored, protected and gazetted.

The Gurdwara is now a Category 1 building and registered in the records of the City Council of Penang Island as such. I am also made known that the Jabatan Warisan Negara had paid a site visit last year and the Gurdwara is awaiting recognition for Heritage Status under the National Heritage Act.

I am informed that the cost of the conservation and restoration of this 120-year-old building will be in between RM2.5 to RM3 million. The completion period for the work is estimated to be 24 months and depending on what is discovered upon the skimming works, it may extend beyond the 24 months. I am sure the Committee under the able stewardship of Dato’ Mahinder will do an excellent job. There are many activities planned for fund raising and the committee’s motto is “fast and furious”.

I wish the committee and the congregation of the Gurdwara the very best in its noble endeavor.

Thank you.

 

The Official Opening of SAM Precision Engineering (M) Sdn Bhd

Posted in Dari Meja Ketua Menteri

Speech by Chief Minister of Penang
At The Official Opening of SAM Precision Engineering (M) Sdn Bhd

21 February 2019
Penang Science Park, Penang

 

YB Datuk Ignatius Darell Leiking
Minister of International Trade & Industry

Mr Philip Yeo
Chairman of SAM

Mr Tan Kai Hoe
Chairman of SAM EE

Board of Directors of Singapore Aerospace Manufacturing Pte Ltd (SAM)

Board of Directors of SAM Engineering & Equipment Berhad (SAM EE)

Dato’ Loo Lee Lian
CEO of InvestPenang

Distinguished guests

Members of the media

Ladies and gentlemen

Good morning.

I am pleased to be present today at the official opening ceremony of SAM Precision Engineering (M) Sdn Bhd, here in Penang Science Park. We are proud to join in congratulating SAM Engineering & Equipment Berhad (SAMEE), among the most notable players in the aerospace manufacturing industry in Penang and Malaysia, in this significant milestone of your company.

Penang – destination of choice for investors

Penang continues to maintain our robust economic growth. The manufacturing and services sectors are the twin engines of growth in Penang. In 2017, the manufacturing sector grew by 5.7% year-on-year. From January-September 2018, Penang recorded MIDA approved manufacturing investments of RM3.8 billion despite growing global macroeconomic challenges of trade war and rising protectionism. While Penang’s strong investment and economic vibrancy was built on the base as E&E and semiconductor hub, which BBC named Penang as a regional hardware manufacturing hub and Asia’s next Silicon Valley, Penang’s diversification into fast growing sectors such as avionics and medical devices have continued to strengthen Penang’s value proposition to investors. Singapore investors are among the top five largest inbound FDI countries for Penang, and SAMEE’s continued investments in Penang continue to strengthen the flow of investments.

SAM’s significant aerospace manufacturing in Penang

We are excited with SAMEE’s latest facility in Bukit Minyak is operated by SAM Precision (M) Sdn Bhd, a wholly owned subsidiary. I was informed that this 145,000 sq. ft. facility with investment value of RM140 million produces major nacelle structures for 2 Airbus aircraft, namely the A320neo with GTF engines and the A350 Family. The A320neo is the bestselling aircraft for Airbus, with annual delivery planned to increase to 480 aircraft by 2020. Meanwhile, the A350 is an important wide body aircraft for Airbus. This aircraft is fitted with the latest aerospace technologies that are light weight, low noise level, fuel efficient and its ultra-long-range version has the ability to reach up to 9,700 nautical miles.

SAMEE’s major aerospace customers are aero-engine Original Equipment Manufacturers (OEMs) such as GE Aviation, Safran Aircraft Engine, and Tier-One Integrators such as UTC Aerospace Systems. This also shows that Penang is involved in the global supply chain of the aerospace manufacturing industry.

Based on SAMEE’s Annual Report last year, the company invested RM134.5m in FY2018, of which RM113.7m was for the Aerospace business. The Group ended the year with a healthy projected order book of RM3.1 billion. More importantly, aerospace manufacturing which SAMEE is in, is also an important economic and investment agenda for Malaysia. YAB Tun Dr. Mahathir Mohamad, Prime Minister, commented that Malaysia needs more aerospace hubs to support the development of Malaysia’s aerospace industry, which is being identified as one of the sub-sectors to focus in the second half of 11th Malaysia Plan 2016-2020. Penang’s involvement in aerospace manufacturing is also synergistic with Penang2030 action plan to uplift our people towards higher income, higher value jobs.

I am delighted to note that our local talents are beneficiaries of SAMEE’s growth as well, with SAMEE spending approximately RM1.3mil annually to train its employees to equip them with necessary technical and soft skills. SAMEE’s engineers are sent overseas for on-the-job training and for engineering collaborations with its counterparts in Singapore and China. These initiatives will help to sharpen the engineers’ technical skills and will create a wider pool of highly skilled engineers in Malaysia.

This is in line with Penang’s focus - to place our strong emphasis in developing our talents. We understand that our pool of skilled and qualified talents remains a large competitive advantage in making Penang as a destination of choice for investors. As part of the State’s effort in retaining talents, the Penang Future Foundation awards merit-based scholarships to Malaysian undergraduates in local public as well as private universities studying in designated courses identified by the industry and services sectors. Upon completion of their studies, scholars would only be required to work in Penang in any company or agencies of their choice.

In our efforts to partake in the Industrial 4.0 revolution, revolving around interaction of machines, cloud computing and Internet of Things, the State has also established the Penang STEM Sdn Bhd. as the umbrella organization consisting of @CAT Penang (Accelerator for Creative, Analytics and Technology), Penang Skill Development Centre (PSDC), Penang Science Cluster (PSC), Karpal Singh Penang Learning Centre (KSPLC), Tech Dome Penang (TDP), and Penang Digital Library (PDL). It is a coherent and synergistic strategy to spearhead STEM, in line with our plan to establish Penang as the Centre of Excellence (CoE) for Science and Technology.

Closing Remark

In closing, I wish to once again congratulate SAM Precision Engineering (M) Sdn Bhd on your official opening here at Penang Science Park. Penang is proud to have over 45 years of cumulative industrial intelligence, and host to many MNCs in growing sectors of aerospace manufacturing, E&E and medical devices. State agencies such as InvestPenang and Penang Development Corporation will continue to facilitate and support the need of investors in Penang.

Thank you.

REHDA Penang’s Chinese New Year Gathering 2019

Posted in Dari Meja Ketua Menteri

Speech by Chief Minister of Penang

at REHDA Penang’s Chinese New Year Gathering 2019

20 February 2019

 

YB Dato’ Ir. Ahmad Zakiyuddin bin Abdul Rahman
Deputy Chief Minister I

YB Prof. Dr. Ramasamy a/l Palanisamy
Deputy Chief Minister II

Members of the State Executive Council

YBhg Dato’ Toh Chin Leong, Chairman, REHDA Penang

YBhg Dato’ Jerry Chan, Immediate Past Chairman REHDA Penang

YBhg Dato’ David Fong, Organising Chairman, REHDA CNY Gathering 2019

Distinguished guests

Members of the press

Ladies and gentlemen

Good evening to all.

Though Chap Goh Mei was already celebrated yesterday, this evening’s celebration of ushering in the Lunar New Year is an excellent reason for members of the industry to come together and I would like to thank Dato’ Toh Chin Leong, Chairman of REHDA Penang and committee members of REHDA Penang for extending an invitation for me to be part of this gathering.

After a barking year of the Dog which saw its share of triumphs and tribulations, the year of the Boar is considered auspicious by the Chinese community. Considering the many positive aspects of the boar which are said to attract success in all spheres of life, many are hopeful that this may just be the boost to tide over the current and challenging economic climate, as well as concerns of a softening property market.

Whether or not the Boar brings us good tidings, I am confident that Penangites and Penang developers in particular are well equipped to face future challenges. Although we are one of the smallest states in Malaysia, Penang’s main strength lies in her valuable human talent. We are constantly working to promote, nurture and retain these talents as a competitive asset in the state’s growth. One such effort is the State’s scholarship programme known as Penang Future Foundation, which provides outstanding Malaysians with opportunities to pursue their undergraduate degrees in selected fields in Malaysia. This programme thrives on contributions from public, and I hope the many developers here tonight will be persuaded to include this scholarship programme as part of their corporate social responsibility exercise. Penang is also synonymous with being an attractive location of choice for investors, destination of choice for tourists and certainly a desirable location of choice for those who desire to make Penang their home. In 2017, Penang recorded the largest FDI inflow of MIDA-approved manufacturing FDI among states in Malaysia, valued at RM8.5 billion. Penang is also the second top recipient of total manufacturing investment among states valued at RM10.8 billon. Domestic investment also grew steadily by 92% year-on-year to reach RM2.3 billion in 2017. I am sure it is our collective hope that year 2019 will bring in greater monetary feats for the state.

Nevertheless, an issue that is closer to heart for developers in Penang is the large property overhang. Several measures have been introduced by the Malaysian Federal Government as well as the Penang State Government to address this concern. The Minister of Finance and REHDA Malaysia had recently announced a six month Home Ownership Campaign (HOC) from 1st January 2019 to 30th June 2019 with the twin objectives of encouraging home ownership and well as reducing the large property overhang. Various incentives were introduced including stamp duty exemptions on instruments of transfer for residential units priced between RM300,001 to RM1 million. For residential units sold above RM1 million to RM2.5 million, stamp duty exemption applies to the first RM1 million while the rest will be charged at 3% during the six month period. Stamp duty on loan agreements up to RM2.5 million would also be exempted. At the same time, the Penang State Government had also given a waiver of the 3% levy on foreign purchasers for a limited period of one month starting from February 2019. Developers are similarly making the effort by offering a variety of incentives to buyers, which includes a minimum 10% discount on all residential properties and freebies.

Ongoing issues surrounding housing affordability and high compliance costs involved are matters to be addressed and reviewed but let us not forget that the working relationship enjoyed between the Penang State Government and REHDA continues in order to achieve ‘win-win’ solutions. While REHDA Penang has been playing an effective role in representing and protecting the interests of the state’s developers, ultimately we need to work hand-in-hand to deliver housing opportunities that would benefit all levels of society.

Ladies and gentlemen,

Coming back to this evening’s merriment, Chinese New Year gatherings as well as open houses for other celebrations such as Hari Raya Aidilfitri, Christmas and Deepavali continue to feature as an integral part of our uniquely Malaysian culture. Such occasions provide the opportunity for all communities in Malaysia, more so in Penang, to celebrate our beautiful diversity and to come together as one irrespective of our cultural backgrounds and religions.

I would like to take this opportunity to wish everyone here, Gong Xi Fa Cai, Xin Nian Kuai Le, Wan Shi Ru Yi and may the new year of the Golden Boar bring good fortune, peace and strength to all.

Thank you.