This article first appeared in The Edge Malaysia Weekly on April 13, 2026 - April 19, 2026
AFTER 25 years of operations, Tokyo-listed Lintec Corp, a manufacturer of adhesive-related products, is putting its eight-acre leasehold land in Bukit Minyak Industrial Park, Penang, up for sale via tender.
Located about 11km from the first Penang Bridge, the land comes with a single-storey factory that has a combined built-up area of about 132,000 sq ft.
According to Raine & Horne International Zaki + Partners Sdn Bhd (Penang) partner Lee Wen Tat, the value of the property is estimated at RM45 million to RM50 million.
“Bukit Minyak Industrial Park is a major industrial hub located in Seberang Perai, developed by Penang Development Corporation. The park spans over 1,000 acres and serves as a critical centre for manufacturing, logistics and high-tech industries in northern Malaysia. Its growth is driven by its excellent connectivity to the North-South Expressway and it is also easily accessible via both the first and second Penang bridges. It is surrounded by Penang Science Park and Batu Kawan Industrial Park, with close proximity to Bukit Tengah Industrial Park,” says Lee.
Notable and prominent factories located within the industrial park include Flextronics Technology, Jabil Circuit, Amphenol TCS, Paramit Malaysia, UWC Holding, Le Nam Megasheet, Pensonic, Semarak Engineering, Chop Tong Guan and the recently opened MEP Enviro Technology. The industrial park is also located close to amenities such as AEON BiG Bukit Minyak, Lotus’s and IKEA Batu Kawan.
An online search shows the listing of two pieces of land up for sale in the area. The first is a 20-acre vacant parcel along the main road of Bukit Minyak with an asking price of RM80 million, or RM92 psf, while the second parcel measures five acres and has an asking price of RM22 million, or RM100 psf.
Lee adds that a recent transaction in July 2025 involved a single-storey factory in Jalan Perindustrian Bukit Minyak 19 with a land area of 105,078 sq ft, which was transacted at RM11.8 million, or RM112 psf. Meanwhile, transactions in 2024 were priced between RM92 and RM177 psf.
The agent for the deal is CBRE | WTW and the tender will end on April 23. The agent tells The Edge that the lease on the land will expire on Oct 29, 2061.
In September 2025, Lintec announced its decision to dissolve and liquidate its Malaysian subsidiary Lintec Industries (M) Sdn Bhd (LIM), owing to declining market competitiveness and a significant drop in orders. LIM was established in April 2000.
According to the notice, LIM manufactured and sold multilayer ceramic capacitor-related tapes used in large quantities in a wide variety of electronic devices to store and release electricity, with a focus on the Southeast Asian region and China. However, the emergence of Chinese manufacturers led to a decrease in the market value of Lintec’s products, prompting the company to withdraw from manufacturing and sales at its subsidiary.
The liquidation of LIM is expected to be completed by the end of March this year.
Lintec also has subsidiaries in Kuala Lumpur, Shah Alam and Kuching, where it also has a manufacturing plant.
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