November 29, 2023

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New Manufacturing Plant Opens in Penang

A global leader in test innovation announced the opening of its new manufacturing plant in Penang. The new plant is a 365,000-square-foot area for assembly, quality assurance (QA), a warehouse, an R&D lab, and more, to develop advanced testing and handling equipment.

This expansion follows the firm’s highest recorded nine-month revenue level in history for 9M2022 at SG$747 million. The region’s growth opportunities and talents will be tapped into to bring the firm’s operations closer to existing and new customers.

The plant was officiated by the Chief Minister of Penang; the Deputy CEO Investment Development of MIDA; the firm’s Chief Executive Officer (CEO); and the firm’s Non-Executive Chairman.

The Chief Minister of Penang, while congratulating the firm on the expansion stated that the new manufacturing plant in Penang is a testament to the region’s conduciveness as a global semiconductor hub.

With fifty years of industrialisation in its DNA, Penang has navigated numerous up and down cycles, and has emerged stronger from each. Experiencing an upward trend in its exports, Penang contributed an average 29 per cent of Malaysia’s export, and 58 per cent of the nation’s trade surplus over the past five years.

With regards to investments, Penang is among the top contributors to the country, garnering RM9.2 billion in approved manufacturing investments from January to September 2022. Particularly, investments from machinery and equipment industry amounted to a total of RM7.3 billion from 2020 to September 2022, represented 57 per cent of the country’s total, he added.

The Chief Minister also stated that riding on the prolific growth of advanced technologies, Penang is expected to benefit from the semiconductor industry’s long-term outlook. The state, via InvestPenang, is looking forward to working with working with the company to accelerate the region’s electrical and electronics (E&E) ecosystem development, anchoring its status as the Silicon Valley of the East.

The Deputy CEO, Investment Development of MIDA said that the firm’s footprint in Malaysia will be a strategic advantage to Malaysia’s E&E industry, as the company can offer customized testing solutions for the electronics and semiconductor industries.

The project demonstrates both the company’s confidence in Malaysia’s long-term investment propositions as well as the thriving state of the manufacturing industry and its ecosystem in Malaysia. The project is a parallel testament of the global investors’ confidence in Malaysia as the preferred investment destination and the local companies’ capability and readiness to support high-profile business ventures and activities, she said.

The firm’s CEO stated that the new plant will also for the scaling up of testing and handling capabilities to meet the growing demand for new semiconductor devices. Customers’ success will be ensured by the firm continuing to grow its capabilities to deploy quickly at scale. Together with its centre of excellence in Singapore, the aim is to solidify its position as a hub in the region.

Malaysia is an important market as it is strategically positioned in the heart of Southeast Asia. The E&E industry contributes significantly to Malaysia’s GDP growth, export earnings, investment and employment and plays a vital role in the country’s industrial development. From January to September 2022, Malaysia attracted a total of RM22.6 billion in approved investments for the E&E industry.

As a hub in the semiconductor global supply chain, Penang accounts for 80% the nation’s contribution to global backend semiconductor output, and over 5 per cent of the world’s semiconductor sales over the last few years.


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