GEORGE TOWN – Solaris Consortium Sdn Bhd and Ideal United Bintang International Bhd has withdrawn from plans to develop three warehouses on land at the Swettenham Pier Cruise Terminal, dealing a major blow to the Penang Port Commission (PPC).
The developer, a listed subsidiary of conglomerate Ideal United Bintang International Bhd, signed a memorandum of understanding in February to develop the land.
Construction was supposed to start in September.
The company cited the Covid-19 pandemic and its impact on the tourism sector as reasons for pulling out.
PPC, in a statement, acknowledged the withdrawal, but said it will issue a fresh request for proposal to develop the warehouses, as well as the disused Tg City Marina beside the Penang ferry terminal.
Ideal United Bintang chief executive Tan Sri Alex Ooi Kee Liang could not be reached for comment.
The MoU had been widely anticipated to turn Penang Port into one of Asia’s top hubs for the cruise industry.
The project would have seen the development of prime seafront land and restoration works in line with Unesco World Heritage Site guidelines, with the area to have duty-free shops, eateries, and stores offering locally made goods.
Penang Port Sdn Bhd (PPSB) chief executive Sasedharan Vasudevan said the development deal was reached between PPC and the developer, and the port operator will leave the matter to the parties concerned to sort out.
He said PPSB aims to revive the cruise business, and is studying the best ways to market it to locals.
It remains to be seen whether the proposed expansion of the pier will continue. – The Vibes, November 11, 2020
