Penang tables RM1.074 billion budget for 2027

The Penang state government has tabled a RM1.074 billion budget for 2027, projecting a record-low deficit of approximately RM5.26 million. This represents a significant decrease from the RM19.92 million deficit targeted for 2026.

Chief Minister Chow Kon Yeow reported that land tax revenue surged by 44.41 percent, reaching RM167.59 million as of late October 2026, following the first land tax review in 32 years. Despite this increase, the state government has agreed to maintain a 50 percent land tax rebate for 2027, subject to specific eligibility conditions.

Key development priorities for the upcoming year include 514 projects focused on public infrastructure, community facilities, and strategic economic initiatives. Notable projects include land acquisition for the Light Rail Transit (LRT), the Airport Link Road, and access routes to Silicon Island. Additionally, the state is progressing with the Silicon Island land reclamation project, with 500 acres completed as of October 2026.