GEORGE TOWN, Dec. 23 -- The Penang state government has agreed to offer a 50 per cent rebate on quit rate rates for 2026.

Penang chief minister Chow Kon Yeow said the state exco had agreed on December 10 to increase the rebate rate for 2026 from 32.5 per cent to 50 per cent.

"This decision was made as an additional measure to ease the financial burden of landowners and to ensure that the transition to the new rates can be implemented gradually and in a more controlled manner," he said.

He said the new rates will be in force for a minimum period of 10 years, as provided by law under the National Land Code (Act 828).

However, he added that the rebate is still subjected to the minimum quit rent rates.

"If the quit rent amount after the ...