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PENANG (Feb 4): Mah Sing Group has been appointed as the financier to support the revival and completion of two Rumah Mutiaraku (RMKU) affordable housing projects in Balik Pulau, Penang, namely Pangsapuri Sri Bayu and Pangsapuri Quinton.
The appointment was announced by Penang Chief Minister Chow Kon Yeow today.
The two projects, comprising a total of 625 units, were initially launched for sale in 2017 but left incomplete, and will now be revived and remaining works completed.
“Mah Sing’s involvement in the RMKU recovery builds on nearly two decades of active development in Penang, underpinned by a consistent track record of delivery and responsible development,” stated the company in a media release.
Baker Tilly Insolvency PLT has also been appointed as the liquidator to manage the process.
The recovery of Pangsapuri Sri Bayu and Pangsapuri Quinton forms part of the Penang government’s commitment to affordable housing for the B40 and M40 communities, in line with Vision Penang 2030.
Through Lembaga Perumahan Negeri Pulau Pinang (LPNPP), the state has set a target to deliver 220,000 units of affordable housing by 2030 under Strategic Initiative A1.
Reinforcing Mah Sing’s strong track record and working relationship with the state, the group signed an agreement with Penang Development Corporation in December 2025 for the land acquisition of M Cora, a high-rise residential project in Sungai Pinang. This marked another important milestone in Mah Sing’s expansion in Penang.
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