Penang Finance:Strong Roots, Stunted Growth

By Ong Wooi Leng, Suresh Narayanan, Lim Mah Hui

December 2009 COVER STORY
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The modern history of Penang began when it was acquired by the British East India Company in 1786 to serve its expanding global trade. The island boasted a fine sheltered harbour, and was perfectly located at the northern end of the Straits of Malacca. It served the British well in business and as a military base. Penang’s many geographical advantages allowed it to function for over two centuries as a trading, administrative, travel and educational hub. And since the 1970s,...

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Ong Wooi Leng

heads the Socioeconomics and Statistics Programme at Penang Institute. Her work lies in labour market analysis and socio-economic development.

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Suresh Narayanan

PM
Lim Mah Hui

is an MPPP city councillor representing many of Penang’s NGOs. He was previously an international banker and academician, and the author of Nowhere to Hide: The Great Financial Crisis and Challenges for Asia.

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