Penang's millennium monument

This beautiful structure is the Millennium Monument at the Esplanade. It was constructed in 1999 or 2000 to coincide with the millennium celebrations in Penang. Within the conical dome is a time capsule holding artifacts from the 20th Century.

From the BHL Bank Annual Report 1999

What very few people know is that the Millennium Monument was sponsored to the tune of RM500,000 by Ban Hin Lee Bank Berhad in the last few months of its corporate presence in Malaysia. On 01 Jan 2000, this bank was assimilated into Southern Bank as part of a forced merger process initiated by Bank Negara Malaysia. Thus in a way, this monument represented Ban Hin Lee Bank's way of saying goodbye. Although it was never described as such, I looked at this gesture as the bank's parting gift to the people of Penang.

While the monument might have attracted a lot of derision from conservationists initially, it is my opinion that the structure blends in very well with the surroundings. Who says modernity or futurism cannot co-exist within a heritage enclave? This one does. Unfortunately, there's no sign board to say what it represents, which is a shame considering its prominent location.

I hope that once the Esplanade upgrading project is completed, the Penang Island City Council and the George Town World Heritage Incorporated will have plans to restore the monument to its former splendour and also give Ban Hin Lee Bank the recognition it deserved as Penang's once very own home-grown banking institution. It was, after all, an institution widely known to the older generation of people in Penang. Their services were much appreciated by their customers too.