KUALA LUMPUR: Ideal United Bintang International Bhd’s sub-subsidiary Solaris Consortium Sdn Bhd has signed a memorandum of understanding (MoU) with the Penang Port Commission (PPC) to redevelop Swettenham Pier Cruise Terminal in Penang on a built-operate-transfer basis.
According to a filing with Bursa Malaysia, the development measures 2.38 acres on PPC’s land on part of Lot 53, Lot 36 and Lot 22, Daerah Timur Laut.
The project entails redesigning and refurbishing the three buildings – Godown 5, Godown 7 and Godown 8 located at the six-century-old seafront between the pier and Tanjung City Marina.
“Ideal will refurbish the three godowns to be converted into a seafront tourist-spot lifestyle destination including duty-free shops, F&B outlets, homegrown brands offerings, local made products and gift shops, ” it said.
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