The robbery occurred as the workers were carrying the gold bars in a bag and walking towards a company vehicle parked in front of the factory premises. The gold bars were to be delivered to a factory in Kuala Lumpur.
The robbers however, suddenly pulled up in a red Perodua Bezza at 9.45am.
Penang police acting chief Roslee Chik said the three robbers threatened to hurt the two factory workers if they refused to surrender the bag, containing 11kg of gold bars.
One of the factory security guards, stationed on the first floor of the factory, fired four times at the robbers but the shots struck the car instead.
Roslee said the getaway car was found abandoned more than four hours later in Taman Ampang Jajar, about 5km away.
“The suspects had also left the clothes they were wearing during the heist, in the car.
“They are believed to have escaped in another vehicle,” he added.