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Penang SME Centre Eyeing Full Occupancy By End 2015

[ 08-04-2015 ]
Penang SME Centre Eyeing Full Occupancy By End 2015
GEORGE TOWN, April 7 (Bernama) -- Penang SME centre, an incubator for budding Small and Medium Enterprises (SME), is aiming for full occupancy by year-end.

SME Centre Management Council Chairman Datuk Seri Kelvin Kiew said the centre which now has 40 per cent occupancy, has a larger number of applicants from electric and electronics support companies in the waiting list.

"We will review all the applicants' business model and in most cases, it is their research and development content which will be the deciding factor.

"We don't want to take in companies that relies on imported resource or do not have revenue to sustain their business," he told reporters at the centre's open day here today.

Kiew said the centre wanted to develop the competencies of SMEs in Penang and nurture them to move up the value chain.

"We want the local SMEs to become global suppliers with their own brand name," he said, adding that all applicants would be subject to the approval of the Department of Environment.

Kiew said with subsidised rentals ranging from RM1.50 per sq ft to RM1.80 per sq ft for local companies, the centre provided a favourable location for SMEs that were supporting industries such as light emitting diodes or solid state lighting, medical devices, aerospace or avionics, semiconductors and photovoltaic.

"Currently, four engineering companies are located in phase four of the Bayan Lepas Industrial Park where tenants enjoy 24-hour security service, daily cleaning and landscaping," he added.