Cayman Islands, the name of the country which has been popping up in the alleged billion-ringgit financial scandal involving 1MDB also has an investment in Penang.

The country invested a total of RM20.8 million in Penang in 2014, according to documents provided by Chief Minister Lim Guan Eng today.

Asked what was the investment for, Lim said he did not have details.

“The details are with the Malaysian Industrial Development Authority (Mida),” Lim told at a press conference in George Town today.

Lim ( photo ) expressed hope the investment had nothing to do with the RM42 billion debt-laden 1MDB.

Lim recalled the only business 1MDB had in Penang was investing RM1.38 billion in 234 acres (95ha) of land in Farlim before the 13th national polls in 2013.

The beleaguered GLC continues to be at the centre of the spat between Prime Minister Najib Abdul Razak and former premier Dr Mahathir Mohamad, the latter who has questioned 1MDB's US$1.103 billion (RM4 billion) investment in the Cayman Islands, the status of which remains a mystery.

S'pore biggest investor

The Putrajaya-funded investment company - the brainchild of Najib - has insisted that its investment in the Cayman Islands have been fully redeemed in cash and is allegedly parked at the BSI Bank Ltd in Singapore.

Meanwhile, Lim also announced that Mida had approved projects worth RMM8.2 billion in Penang last year

“This is a 100 percent increase from RM3.9 billion in 2013,” said Lim, who is also DAP secretary-general.

“The top three manufacturing sectors were electronics and electrical products (RM4.8 billion), machinery manufacturing (RM1.3 billion) and scientific and measuring equipment (RM507 million),” he noted.

“The countries with the biggest foreign direct investment in Penang last year were Singapore, Republic of Ireland and the United States of America,” he revealed.