BANK of China (M) Bhd will move its office from Pulau Tikus in Penang to its original location in the Beach Street financial district early next year.
It is expected to move into a RM20mil double-storey heritage building with a built-up space of 18,621sq ft.
Bank of China Penang branch manager Yap Chee Cheng said according to the bank’s old-timers, Bank of China used to operate at the premises where RHB Bank is currently located.
The Bank of China currently located in Wisma Prudential in Cantonment Road, Pulau Tikus
The bank was first established in 1939 before it ceased operation in 1959. It then made a comeback with its office in Cantonment Road, Pulau Tikus, in October, 2009.
Yap said there used to be more than 100 workers during its peak back in the early days.
“When we got wind that a double-storey building in Beach Street was up for sale, we immediately informed our head office in China and secured approval from them to make the purchase.
Yap said the manpower would double when they move to the new office, from the 14 staff currently manning the office in Pulau Tikus.
The Bank of China was first set up by the modern father of China Dr Sun Yat Sen, who was also the leader of the nationalist movement in 1912.