The dredging of the Penang Port Channel that had been shelved during the mid-term review of the Ninth Malaysia Plan (9MP) will be made a priority under the 10th Malaysia Plan.
Deputy Prime Minister Tan Sri Muhyiddin Yassin said on Thursday, April 1, the dredging which had been estimated to cost RM1 billion under the 9MP would enable larger vessels to call at Penang.
Speaking at the official unveiling of the brand transformation of Penang Port Sdn Bhd (PPSB) here, Muhyiddin said the government fully recognised that the significance of the deepening of the channel.
"This would complement the RM1.1 billion investment pledged under PPSB's expansion and business improvement plan from 2008 to 2012 to cater for the development brought on by the Northern Corridor Economic Region [NCER], thus enhancing its attractiveness as the port of call for the northern region and possibly the Bay of Bengal. Therefore the proposed dredging project will be made a priority under the 10MP," he said.
Muhyiddin said PPSB's rebranding should set a higher bar in terms of consistent service delivery and promise more to its clients.
He stressed that brands are now at the heart of the intangible value that investors place on companies, which now find it paramount to re-examine their brands in terms of relevancy to consumers and the changing marketplace.
He added that due to the tremendous impact that rebranding a company could have, it was critical to take the clients through the process with great sensitivity in order to avoid alienating old customers, while aiming to attract new business prospects.
"There is no magic formula to rebranding however, and it involves strategic planning, memorable visuals and personal interactions, all of which must speak in unison for a customer to place full trust and invest their emotions in what is on offer.
"Therefore it is really important for PPSB's rebranding exercise to come up with a brand personality that it can commit to. Commitment translates into performance accountability, with clear rewards and consequences for deliverables," he added.
He said any port which dared to dream of regional success had to seize a window of opportunity and PPSB's rebranding and transformation exercise was very timely.
He said the economics of geography in terms of the Indonesia-Malaysia-Thailand growth triangle favoured Penang's high economic density and shorter distance to markets.
He called on the PPSB and Penang Port Commission to work together to reposition the port and take advantage of its location to insert itself into the global production chain.
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