Penang State is looking at new approach for its existing projects

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It will be a blessing if the Federal Government can come in with some funding for the LRT project.

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Bank top officials keen on investing in Penang major projects

HSBC Bank Malaysia has expressed its desire to meet up with investPenang to take part in the development of the state.

Its chief executive officer Stuart Milne expressed the bank’s interest in co-operating with the state government in its upcoming projects during a courtesy call on Chief Minister Chow Kon Yeow at the latter’s office in Komtar today.

“We hope to be able to work with the Penang government soon,” Milne said.

Other top HSBC corporate leaders present were country head of commercial banking, Andrew Sill, regional director, commercial banking (North) Teoh Soon Beng and associate director, MNCs Tan Yam Teck.

Also present were director, head of MNCs, Shreyas Krishna and director, Infrastructure Finance, Remi Degelce.

Chow, on his part, briefed the HSBC team on the projects the state and other stakeholders that would embark upon like the Penang Master Transport Plan, including the LRT, the Penang International Airport expansion and the Penang South Reclamation (PSR) project.

Chow said the state is also considering taking a different approach to oversee all the projects taking shape.

“Like the LRT project, it will be a blessing if the Federal Government can come in with some funding.

“We have to review the best compensation to be given to affected fishermen in the PSR project,” Chow said.

Story by Danny Ooi.
Pix by Ahmad Adil Muhamad