At that kind of size, you should tailor make it, hanging tv cabinet + feature wall.  It hides cable well.

Penang furniture shops are more expensive than KL. KL has tonnes of furniture shop especially Puchong where price can be competitive, while Penang is just scattered everywhere.

You can try those branded furniture first.. Cellini, Rozel, Lorenzo.

I think I recall seeing Rozel having sale now.

For that size, better you customize. Otherwise, you can try out the furniture shops at the furniture at Megamall at Perai. Its a lot cheaper there if yo compare to Island.

For Island,maybe you can try out Arredo, Mekio or Regent. If you want cheaper ones, then go to Modern Arts at Jalan Perak.

For beds/cabinets/chests, you can try out Living Delite at D'Piazza mall. They carry a lot of solid wood painted with white gloss furniture with a touch of western. The quality there is pretty good but its also quite expensive. Its a pretty small shop though.

Its not easy to shop in Penang compared to KL. The shops are all scattered all over the place and quite hard to bargain also. Lights and fans make you even  . The cheapest price I could bargain here in Penang island was 3x more expensive compared to the same thing I got from Top Ten in Puchong.

Ikea did had plans to expand to Penang (as reported by The Star a few years back) in Komtar, but apparently it had objections by "certain people" here so tak jadi. Not sure if this is true or not but everyone seem to say the same thing to as why Ikea did not get to come to Penang.

try rozzini & kamay at gurney plaza