THE SUCCESS of Penang's economic story revolves around the push to establish a vibrant ecosystem built under the foundation of small medium enterprises (SMEs), start-ups and tech transfers from multinational corporations (MNCs).
Together they establish strong economic growth for the island, said Chief Minister Chow Kon Yeow.
He was speaking at Affin Group's Lunar New Year dinner at the Penang Marriott Hotel.
The banking group which specialises in SMEs and start-ups is the first commercial group to host a Chinese New Year gathering this year.
“Affin has been a key player in the financial industry for over five decades, contributing significantly to Penang’s development,” Chow said.
He praised the group for its active support of Penang’s ecosystem with SME Financing Solutions as one of its niche areas.
“Affin’s customised financing solutions empower SMEs to expand their operations and drive innovation.
“Secondly, the group’s commitment to sustainability projects supports initiatives aligned with Penang2030, the state’s vision for a balanced and green economy,” he said.
As Penang aims to attract more investments and strengthen its leadership in high-value industries, Chow urged Affin and other stakeholders to continue contributing to a sustainable and thriving future.
Chow also pointed out that 2025 will be a pivotal year for Penang, with several transformative mega-projects set to launch or progress under Federal and state government initiatives.
These include the Penang Light Rail Transit (LRT) Mutiara Line, Penang International Airport (PIA) Expansion, Penang Silicon Island Project and the Penang Silicon Design @5km+ (a start-up area for smart chip designs).
Affin Bank Bhd president and chief executive officer Datuk Wan Razly Abdullah shared that 2025 marks a major milestone for Affin as it celebrates its 50th anniversary.
“Over five decades, Affin has grown with our customers, safeguarding deposits, creating liquidity, supporting businesses, and enhancing lives," he said. - December 9, 2025.
