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Thursday January 20, 2011

Penang tops total capital investment list for 2010

GEORGE TOWN: Penang attracted RM12.2bil worth of total capital investments in 2010, the highest in the country and a 465% increase from 2009.

Chief Minister Lim Guan Eng said the state’s total capital investments last year was a five-fold increase from the previous year’s total of RM2.2bil.

“Penang has moved up from its No 4 spot in 2009.

“This 465% increase reflects investors’ confidence in the energy, expertise and entrepreneurship of our human talent,” he said.

Lim said Penang contributed 26% of the country’s total investments of RM47.2bil in 2010, based on figures from the Malaysian International Development Agency (Mida)

“We are proud that Penang is No 1 in total capital investments in manufacturing projects.

“This is the first time in history Penang has topped the list of investments in the country,” Lim said.

He said the sum came from new investments of RM2.8bil and the expansion of existing investments of RM9.4bil.

Meanwhile, Lim said state exco members welcomed the move by the Public Accounts Committee (PAC) to look into Pulau Jerejak island resort development’s alleged losses of RM30mil.

“We hope for the investigations to be conducted immediately,” he said. It was reported yesterday that PAC wanted the Auditor-General to compile a special report on the financial losses.

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