KUALA LUMPUR, January 28 – In a speech delivered during the first sitting of Malaysia’s 13th Parliament on 27 January 2026, Penang Chief Minister YB Tuan Chow Kon Yeow highlighted the importance of national unity, good governance, and adherence to constitutional principles.
He emphasized that recent territorial claims by the Kedah state government over Penang are unfounded both legally and historically, stressing that Penang’s sovereignty is firmly established under the Federal Constitution and reinforced by the Malaysia Agreement 1963.
As well as the Kedah-Penang Boundary Act 1985. Drawing parallels with historical disputes such as the Sulu claim over Sabah, he affirmed that constitutional authority and federalism must prevail over historical or political narratives.
Beyond addressing the dispute, Chow outlined Penang’s forward-looking economic agenda, particularly the vision to establish the Penang International Financial Centre (PIFC).
He clarified that the initiative aims to position Penang as a specialized financial hub focusing on digital assets, fintech, and finance services linked to high-tech manufacturing, complementing Kuala Lumpur’s role as the national financial centre.
Chow also noted that discussions with key regulators, including Bank Negara Malaysia, the Securities Commission, and the Labuan Financial Services Authority, are ongoing to ensure the PIFC is both innovative and compliant with existing regulations.
Concluding his speech, the Chief Minister called for a focus on economic development and improving the standard of living for Penangites, urging a move away from politically charged rhetoric that could disrupt harmony between states.
He reaffirmed Penang’s commitment to collaboration with the federal government and other states to strengthen Malaysia’s unity, competitiveness, and long-term prosperity.
