Ideal Property Group inks agreement with AmBank to provide financing packages to end-buyers of Penang Technology Park

Ideal Property Group signed an agreement with AmBank Group on Tuesday (May 2) to provide high loan-to-value special financing packages to end-buyers of Penang Technology Park in Bertam.

The 880-acre sustainable industrial park development, which is partly financed by AmBank, comes with solar energy specialist services for all factory buildings and incorporates a rainwater and waste water management system.

Ideal Property Group Executive Chairman Tan Sri Alex Ooi Kee Liang said: “Ideal Property Group is committed to creating exceptional spaces that meet the needs and exceeds the expectations of our customers.

“Penang Technology Park @ Bertam is a testament to our unwavering commitment to excellence, innovation and sustainability. This partnership with AmBank helps us achieve our shared goal of driving economic growth and promote sustainable development in the region,” Ooi said.

Representing AmBank, the Group’s Managing Director (Business Banking) Christopher Yap said: “It is an honour to support this project by Ideal Property Group, as they have an impeccable track record of being one of Penang’s established developers. We are also excited to be the first bank to provide this distinctive end-financing package to Ideal Property Group’s customers, as more companies are looking to achieve resource efficiency and adopt sustainable business practices”.

This collaboration aligns with AmBank’s focus on environmental, social and governance (ESG) initiatives and demonstrates its commitment to promoting sustainable development and responsible investment practices.

  • Construction of customized / prefabrication of green technology manufacturing building and related manufacturing facilities.

READY CATCHMENT OF TALENTS

• Collaborations with top-notch institutions & agencies
• Population of more than 500,000 within a 15km radius

ATTRACTIVE GOVERNMENT INCENTIVES & SUBSIDIES

• Income tax exemption
• Investment tax allowance
• Exemption from stamp & import duties
• Wage subsidy*
     * Subject to individual company’s criteria & authority’s approval

COMPLETE LAND AUTONOMY (FREEHOLD)

• Higher appreciation value
• No state consent required for subsale / subletting
• No restriction in interest endorsement on land title

EASY CONSTRUCTION FACILITATION

• Fast-track Construction Permit Process with a 10-month project milestone expedites the building construction process

PROXIMITY TO SEAPORT, AIRPORT & NEARBY AMENITIES

• East connectivity to the rest of the world via Penang Port (23km) & Penang International Airport (42km)
• Readily available amenities within the vicinity for convenience and higher investment value

WELL-DEVELOPED INFRASTRUCTURE &
UTILITIES SERVICES

• Easy access to major routes & ports for seamless logistics and distribution networks
• Ready-to-go electricity, water supply & 5G high speed internet

WORKER DORMITORIES/
CENTRALISED
LABOUR QUARTERS (CLQ)

Malaysia Federal Government
• Malaysian Investment Development Authority (MIDA)
• Northern Corridor Implementation Authority (NCIA)
• Jointly promote, attract & facilitate investments in PTP
• Incentives & Subsidies

Penang State Government
• Fast track approval from state department & agencies.
• Fast track construction permit (E10)
• Grant of industry park name “Penang Technology Park @ Bertam”

SEAMLESS INDUSTRIAL &
PROPERTY SERVICES

• One-Stop Centre offers an exclusive range of services to assist investors in setting up their businesses
• Park Management oversees the operations of the Park & manages industrial lan, building & facilities

  • To provide all type of services to investors.
  • Laison with local authority.
  • Laison with investors on land & building matters
  • Fast Track Approval

Source: Tenaga National Berhad

  • Main supply 275/132kV
  • Features: reliable, stable, uninterruptible, near constant quality
  • Initial power supply capacity: up to 200 MVA
  • Investor may apply to TNB for higher power supply.

Source: Perbadanan Bekalan Air Pulau Pinang (PBA)

  • Capacity: up to 3.5 million gallons per day (MGD)

Source: TM Berhad / Maxis

  • Fiber optics: 24 core lines
  • 5G network
  • Broadband / mobile service providers
  • Attractive incentives, right and privilege offered by NCIA
  • Tax exemption.
  • Top-of-the-line CCTV
  • Main road surveillance system
  • Police beat base
  • Security control centre
  • Flexibility & alternative from non FTZ Zone.
  • Import & export tax exemption.
  • Fast track approval on business license from MIDA.
  • Solar as an ESG solution.
  • Solar system on dry detention pond. Initial power supply capacity: up to 26 MVA
  • Savings on energy costs & deliver long-term predictable financial returns.
  • Solar energy specialist services available for factory building.

GOVERNMENT SUPPORT TO BOOST INVESTMENT

• Federal Government (e.g. Malaysian Investment Development Authority [MIDA] & Northern Corridor Implementation Authority [NCIA]) to jointly promote, attract & facilitate investments, including the introduction of incentives & subsidies.
• Fast track approval from state department & agencies.
• Grant of industry park name “Penang technology Park @ Bertam”