KUALA LUMPUR, Malaysia [August 30 August 2024] – Zhuhai CosMX Battery Co Ltd, (SHH: 688772), a global manufacturer of consumer lithium-ion batteries and power lithium-ion batteries, has announced plans to build its first manufacturing plant in Kedah, Malaysia. The new facility under Unimx Technology Malaysia Sdn. Bhd. will be implemented in several phases at Kulim East Industrial Park, with groundbreaking expected to begin soon (in the last quarter of 2024). This substantial RM1 billion investment marks a significant milestone in the company’s global expansion strategy, towards enhancing its manufacturing capabilities to serve the increasing demand in the lithium-ion battery segment globally.

YB Senator Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz, Minister of Investment, Trade and Industry (MITI) congratulated the company, stated, “Zhuhai CosMX’s RM1 billion investment clearly affirms Malaysia’s position not only as a preferred investment destination for tech-based companies, but also as a country that is serious about the swift implementation of investors’ commitments. MITI and MIDA’s strong drive to creating the right environment for businesses to thrive have resulted in increased investment flows, more high-skilled jobs, as well as a stronger boost to our E&E supply chain and semiconductor exports. This investment also aligns with the mission of our New Industrial Master Plan (NIMP) 2030 to enhance our industries’ economic complexity, while helping to solidify Malaysia’s position as a key manufacturing and services hub for ASEAN and Asia.”

Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid, Chief Executive Officer of the Malaysian Investment Development Authority (MIDA), warmly welcomed the new investment from Zhuhai CosMX in Malaysia, stating “We’re excited about this project, which is set to create over 1,000 jobs and boost our nation’s skilled workforce and tech capabilities. Revolutionising battery technology is no easy task, but MIDA is proud to support and facilitate Zhuhai CosMX on this ambitious journey. Their cutting-edge expertise is going to have a big ripple effect on our local ecosystem. As a partner, we are committed to providing Zhuhai ÇosMX with the support and facilitation they need for the project to succeed, and we’re confident that their presence will have a positive impact on both the economy and rakyat.”

YB Dr. Haim Hilman bin Abdullah Kedah State Executive Council Members (Committee Chairman of Industry & Investment, Higher Education and Science, Technology & Innovation of Kedah Darul Aman) said as a pro-business government, Kedah State Government welcomes Zhuhai CosMX to set up their lithium-ion battery factory in Kulim, Kedah. There is a lot of potential for Kulim East Industrial Park to be the new hub for energy storage production in the northern part of Malaysia. This investment is a testament to the state’s economic potential and confidence in our investment climate. We hope this investment will result in economic growth, technology transfer and skill development, ultimately benefiting our workforce and society.

In addition, Mr. Noor Ikhsan Abdul Aziz, Chief Operating Officer of the Invest Kedah Berhad said “Alongside MIDA, Invest Kedah Berhad, as the state’s One-stop Center agency is here to provide assistance and facilitate a smooth investment process, all the way starting from pre-investment until post-investment stages. We understand that challenges may arise, and rest assured, we stand ready to address any concerns and provide the necessary support.”

Mr. Xu Yanming, Chairman of CosMX, said “On behalf of CosMX, I express immense joy and pride in the upcoming investment to construct a lithium-ion battery factory in Malaysia. This marks a significant step in our global strategic deployment and is a testament to our recognition and trust in Malaysia as an investment destination. We extend our heartfelt gratitude to MITI, MIDA, and Invest Kedah for their support and assistance. CosMX has always adhered to the concept of green development, committed to reducing environmental impact through technological innovation and industrial upgrading. We are looking forward to working together with our Malaysian partners and community to build this factory into a model project, achieving success not only economically but also setting a benchmark in promoting sustainable development.”

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About MIDA

MIDA is the government’s principal investment promotion and development agency under the Ministry of Investment, Trade and Industry (MITI) to oversee and drive investments into the manufacturing and services sectors in Malaysia. Headquartered in Kuala Lumpur Sentral, MIDA has 12 regional and 21 overseas offices. MIDA continues to be the strategic partner to businesses in seizing the opportunities arising from the technology revolution of this era. For more information, please visit www.mida.gov.my and follow us on X, Instagram, Facebook, LinkedIn, TikTok and YouTube channel.

About InvestKedah

Invest Kedah Berhad (IKB) is an Investment Promotion Agency (IPA) for the State of Kedah that acts as the first window or One Stop Centre for all investments into the State of Kedah. IKB was entrusted by The Kedah State Government to attract, facilitate and support business investments in Kedah. IKB plays the vital role of working with government agencies and local authorities to ensure a seamless setup process for local and international investors starting from pre-investment until post-investment stages. For the first quarter of 2024, Invest Kedah helped Kedah to secure the top spot with an investment of RM31.3 billion which is the highest among the states in Malaysia. For more information, please visit www.investkedah.com and follow us on our social media platforms.

About Zhuhai CosMX Battery Co Ltd

CosMX was established in 2007 and headquartered in Zhuhai. It has three main production bases in Zhuhai, Chongqing, Zhejiang and has established a factory in India. CosMX is one of the worldwide major suppliers of consumer Li-ion batteries, and has long served for world’s well-known customers in the field of PCs, notebooks, tablets, smart phones, smart wearables, power tools, drones and other fields.
In the field of power batteries, CosMX have been recognized as qualified supplier for many automotive manufacturers after years of accumulation. At present, CosMX has entered the fields of electric motorcycles, automotive start-up batteries, energy storage, and will proceed into BEV and high-voltage energy storage fields based on market trends and its own strategic position. Additional information can be found at http://www.cosmx.com/.

Media Contacts:

MIDA

Ms. Noor Suziyanti Binti Saad
Director, Electrical and Electronics Division
Email: [email protected]
Tel.: +603-2267 3575

InvestKedah

Mr. Noor Ikhsan bin Hj. Abdul Aziz
Chief Operating Officer
C Block, 3rd Floor,
Wisma Darul Aman,
05503 Alor Setar, Kedah
Email: [email protected] | Tel: (6) 04-702 7373 | Fax: (6) 04-702 7382

Zhuhai CosMX Battery Co Ltd

Mr. Li Junwei
Vice President
Email: [email protected]

Zhuhai CosMX Announces RM1 Billion Investment for First Manufacturing Plant in Kedah, Malaysia

Penang, 26 August 2024 – RIGOL Technologies Co., Ltd., a company specialising in design, development, production, and sales of electronic test and measurement instruments. RIGOL’s products are recognised globally for its high cost-performance ratio and innovative technology, and they are widely used in education, research, industrial manufacturing, and communications. The company today announced the establishment of its subsidiary company in Penang, Malaysia, which is the first overseas manufacturing plant, R&D centre, and service centre. The new facility RIGOL TECHNOLOGIES (MALAYSIA) SDN. BHD. is situated on 90,040 square feet of land with a factory footprint of 78,024 square feet.

With a total investment of over RM100 million, the new facility is divided into two main phases. The first phase, consisting of multiple production lines, has already commenced operations, focusing on the production of electronic test and measurement instruments. The second phase will erect additional production lines and concentrate on establishing an advanced R&D centre and a comprehensive overseas service centre to support RIGOL’s ongoing commitment to innovation and customer service.

The Chief Executive Officer of the Malaysian Investment Development Authority (MIDA), Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid, congratulated RIGOL on the opening of its new manufacturing facility, stating, ” We’re excited that RIGOL chose Malaysia for its first manufacturing plant outside of China! This investment not only creates high-value jobs, but it’s also a big opportunity for Malaysia to move up the supply chain ladder. The most important distinction here is how it aligns with the New Industrial Master Plan (NIMP) 2030, which is all about driving innovation and growth in the E&E sector. At MIDA, we’re fully committed to facilitating developments like this that take Malaysia’s manufacturing sector to the next level. We’re looking forward to a productive partnership with RIGOL and hope other industrial specialists will consider Malaysia as their investment destination. Together, we can drive mutual growth and continue to enhance Malaysia’s high-tech ecosystem.”

Dato’ Loo Lee Lian, Chief Executive Officer of InvestPenang, stated, “Penang, also known as the Silicon Valley of the East, has over half-a-century of industrialisation experience, making it a natural hub for attracting industry players within the E&E sector. Its established infrastructure, skilled workforce, and strategic location have consistently drawn leading global companies to set up and expand their operations here, reinforcing the state’s reputation as a premier destination for high-tech manufacturing and innovation. With that, I am confident RIGOL will be able to leverage on Penang’s robust industrial ecosystem to continue to uphold its mission of ‘enabling technology exploration, empowering possibilities and more’”.

Mr. Wang Ning, the Chief Executive Officer of RIGOL Technologies Co., Ltd., stated, ” RIGOL TECHNOLOGIES (MALAYSIA) SDN. BHD. not only represents a significant milestone in our global expansion strategy, but also underscores our dedication to delivering exceptional service to our international customers. By enhancing our service capabilities in overseas markets, we are positioning ourselves to better meet the growing demands of our clients, while simultaneously ensuring that we remain agile and responsive. Furthermore, this initiative allows us to maintain steady growth within the industry. By creating 150 job opportunities, RIGOL Technologies aims to nurture and develop a new generation of professionals in related technological fields. This is an exciting time for RIGOL, as we continue to build on our legacy of innovation and excellence.”

**The End**

About MIDA

MIDA is the government’s principal investment promotion and development agency under the Ministry of Investment, Trade and Industry (MITI) to oversee and drive investments into the manufacturing and services sectors in Malaysia. Headquartered in Kuala Lumpur Sentral, MIDA has 12 regional and 21 overseas offices. MIDA continues to be the strategic partner to businesses in seizing the opportunities arising from the technology revolution of this era. For more information, please visit www.mida.gov.my and follow us on X, Instagram, Facebook, LinkedIn, TikTok and YouTube channel.

About InvestPenang    
InvestPenang is the Penang State Government’s principal agency for the promotion of investment. Its objectives are to develop and sustain Penang’s economy by enhancing and continuously supporting business activities in the State through foreign and local investments, including spawning viable new growth centers. To realise its objectives, InvestPenang also runs initiatives like the SMART Penang Center (providing assistance to SMEs), Penang CAT Center (for talent attraction and retention), and Global Business Services (GBS) Focus Group (promoting and developing digital economy). For more information, please visit https://investpenang.gov.my/ and follow InvestPenang’s social media channels: Facebook; LinkedIn; WhatsApp Channel.

About RIGOL Technologies, Inc

Founded in 1998, RIGOL is a global leader in providing test and measurement solutions, dedicated to offering high-performance, high-quality products. The company continues to drive innovation, delivering superior technical support and solutions to customers worldwide.

Media contacts:

MIDA
Ms. Noor Suziyanti Saad,
Director, Electrical & Electronics Division
E: [email protected]
Tel.: +603-2267 3575l.: +603-2267 3575

InvestPenang
Ms. Elaine Cheah / Ms. Michelle Goy
Communications & Business Intelligence
Email: [email protected] / [email protected]
Tel.: +604 6468833

Rigol Technologies (Malaysia) Sdn. Bhd.
Plot 12 & 13, Hilir Sungai Keluang 3, Bayan Lepas Free Industrial Zone Phase 4, 11900
Bayan Lepas, Penang | https://int.rigol.com/
Mr. Lee Jun Holme
Technical Support Manager
E-mail : [email protected]
Tel.: +604-611 9929/+604-644 1181

RIGOL Strengthens Global Presence With RM100 Million Investment In Its First Manufacturing Facility And R&D Centre In Penang, Malaysia

KUALA LUMPUR, 4 Julai 2024 – Suruhanjaya Komunikasi dan Multimedia Malaysia (MCMC) menjalin kerjasama strategik dengan Lembaga Pembangunan Pelaburan Malaysia (MIDA) melalui pertukaran Memorandum Persefahaman (MoU) untuk menjalankan program serta inisiatif dengan memanfaatkan rangkaian 5G dalam sektor vertikal serta perusahaan kecil dan sederhana (PKS).

MoU ini juga meningkatkan akses teknologi dan infrastruktur 5G untuk sektor vertikal serta PKS menerusi manfaat pendigitalan. MCMC akan menyediakan sokongan teknikal dan latihan bagi integrasi 5G di samping menekankan kepentingan teknologi 5G kepada industri yang terlibat. MIDA pula mempromosikan kesedaran manfaat 5G kepada industri.

Majlis pertukaran MoU antara Pengerusi MCMC, Tan Sri Mohamad Salim bin Fateh Din dengan Ketua Pegawai Eksekutif MIDA, Sikh Shamsul Sikh Abdul Majid, disaksikan oleh Menteri Komunikasi, YB Fahmi Fadzil dan Menteri Pelaburan, Perdagangan dan Industri (MITI), YB Senator Tengku Datuk Seri Utama Zafrul Aziz.

Menurut Tan Sri Mohamad Salim, “Kerjasama antara MCMC dengan MIDA membuktikan pendekatan kolaboratif sebagai langkah terbaik untuk memacu inisiatif 5G sekali gus memastikan penerimagunaan 5G yang lebih efisien dan pantas dalam menghadapi pelbagai cabaran.”

Sikh Shamsul Sikh pula menyifatkan, “Kolaborasi ini menjadi salah satu pemangkin utama dalam memacu adaptasi teknologi 5G dan transformasi digital, terutamanya PKS di Malaysia. MIDA komited untuk mewujudkan persekitaran yang kondusif, terutamanya dalam memastikan liputan 5G tersedia di kawasan perindustrian. Integrasi teknologi 5G ini bukan sahaja akan meningkatkan produktiviti dalam sektor perkilangan dan perkhidmatan, malahan menjadikan Malaysia sebagai peneraju inovasi digital di rantau ini, sekali gus memacu pertumbuhan ekonomi serta meningkatkan daya saing negara di peringkat global.”

Pemeteraian MoU ini selaras dengan aspirasi Ekonomi MADANI dan merupakan langkah penting ke arah merealisasikan matlamat ekonomi digital Malaysia untuk menyumbang 25.5% kepada Keluaran Dalam Negara Kasar (KDNK) menjelang 2025.

Inisiatif ini juga bertepatan dengan matlamat yang digariskan dalam Pelan Induk Perindustrian Baharu 2030 (NIMP 2030), khususnya dalam misi Tech Up for a Digitally Vibrant Nation yang menekankan kepentingan untuk mengadaptasi teknologi digital bagi mewujudkan 3,000 kilang pintar di negara ini.

Hingga 31 Mei 2024, capaian liputan 5G di kawasan berpenduduk di seluruh negara telah mencecah 81.7% dan melibatkan sebanyak 14.1 juta langganan 5G.

Turut hadir Ketua Setiausaha Kementerian Komunikasi, YBhg. Datuk Mohamad Fauzi bin Md Isa, Ketua Setiausaha MITI, YBhg. Datuk Hairil Yahri Yaacob, dan Pengerusi MIDA, YBhg. Tan Sri Sulaiman Mahbob.

Dikeluarkan oleh:

KOMUNIKASI KORPORAT MCMC & MIDA

MOU MCMC – MIDA Bantu PKS Dan Sektor Vertikal Melalui Manfaat Rangkaian 5G

Kulim, 8 August 2024 – Recognising the rapid growth of power semiconductors driven by decarbonisation, particularly those based on wide bandgap materials, Infineon Technologies AG (FSE: IFX / OTCQX: IFNNY) (“Infineon”), a leader in Power Systems and IoT, is taking a significant step to shape the industry by expanding its Kulim 3 fab building on the investment announced in February 2022. Infineon will invest an additional RM30.1 billion (€5 billion) for Phase 2, on top of the original €2 billion for Phase 1, to construct the world’s largest 200-millimetre silicon carbide power fabrication plant. Both Phase 1 and Phase 2 will generate 900 and 600 high value jobs in Malaysia, respectively. In total, 4,000 jobs will be created. The Kulim 3 fab building incorporates advanced energy efficiency and sustainable practices.

The Minister of Investment, Trade and Industry (MITI), YB Senator Tengku Datuk Seri Utama Zafrul Aziz applauded Infineon’s decision to expand its presence in Malaysia, stating, “Infineon’s world’s largest 200mm silicon carbide (SiC) power fab being constructed in Malaysia highlights our nation’s growing credibility as a regional hub for cutting-edge technology and innovation in the semiconductor space. We warmly welcome long-term, committed partners like Infineon to, among others, enhance our economic complexity and push for net zero, as laid out in the New Industrial Master Plan 2030. Infineon’s additional RM30.1 billion investment in cutting-edge manufacturing technologies will not only drive innovation and our industrial reform agenda, but also create 1,500 high-skilled job opportunities for Malaysians. A robust industrial talent pipeline, ESG considerations and ecosystem development are key, and this is where our National Semiconductor Strategy will play its role towards attracting more high-quality investments that will drive Malaysia’s industrial reforms and sustainable growth.”

MIDA’s Chief Executive Officer, Mr. Sikh Shamsul Ibrahim Sikh Abdul Majid, who attended the event, remarked, “Infineon’s expansion significantly strengthens Malaysia’s position in the global semiconductor supply chain. As decarbonisation gains pace, this investment highlights the Government’s dedication to green technologies and sustainable development, in line with the Green Investment Strategy (GIS). Infineon has been a key partner in these efforts, and their growth in Kulim is a major step for sustainable socio-economic progress. By attracting foreign investments in green technology, we are enhancing our green investment ecosystem as well as the local supply chain. MIDA thanks Infineon for their innovative solutions and sustainability efforts, and we look forward to our continued partnership.”

“We have a clear vision at Infineon: Driving decarbonisation and digitalisation. Together. Infineon Kulim plays a significant role in fulfilling this vision”, said Jochen Hanebeck, CEO of Infineon Technologies AG at the opening ceremony. “When the second phase of the Kulim expansion is completed, this will be the largest and most competitive 200-millimeter silicon carbide power semiconductor fab in the world.” He added: “Today’s event is proof that we are not alone in our efforts to achieve a climate-neutral future. We have a strong network of customers, suppliers and partners that are working towards one common goal: We want to use innovative solutions to ensure that our planet remains a place worth living on.”

Malaysia assumes a pivotal role in the global semiconductor supply chain. In 2023, the electrical and electronics (E&E) industry secured RM85.4 billion in approved investments. E&E is the major contributor to the country’s GDP growth, and is the sixth (6^th) largest semiconductor exporter with a 7.5% global market share, as well as 13% of the global share for chip assembly.

With one of the most diverse semiconductor sectors in the Asia Pacific, Malaysia has seen impressive growth. In the first quarter of 2024 alone, the industry attracted RM34.3 billion in approved investments from 34 projects, creating 6,221 new jobs. This development aligns with the National Semiconductor Strategy (NSS), which has set a bold target to attract at least RM500 billion in investment for the semiconductor industry, in the first phase of the plan.

**The End**

About MIDA

MIDA is the government’s principal investment promotion and development agency under the Ministry of Investment, Trade and Industry (MITI) to oversee and drive investments into the manufacturing and services sectors in Malaysia. Headquartered in Kuala Lumpur Sentral, MIDA has 12 regional and 21 overseas offices. MIDA continues to be the strategic partner to businesses in seizing the opportunities arising from the technology revolution of this era. For more information, please visit www.mida.gov.my  and follow us on X, Instagram, Facebook, LinkedIn, TikTok and YouTube channel.

Media Contacts

Ms. Noor Suziyanti Saad
Director, Electrical and Electronics Division, MIDA
Email: [email protected] | DL: +60322673575

Infineon’s €7 Billion World’s Largest, Resource-Efficient 200mm SiC Power Fab in Kulim to Create 1,500 High-Value Jobs

Johor Bahru, 1 August 2024 – iMin Technology, the leading provider of Android-based Point of Sales (POS) hardware and platform provider in Southeast Asia, proudly announces the grand opening of its cutting-edge manufacturing facility in Johor, Malaysia. Operated through Neostra Technology Sdn. Bhd., this new plant marks iMin’s first production facility in Malaysia and represents a significant milestone in the company’s expansion strategy.

The opening ceremony was graced by YB Lee Ting Han, Johor State Executive Member and Chairman of Investment, Trade, Consumer Affairs and Human Resources Committee; Mr. Vinothan Tulisinathzan, Director of the Malaysian Investment Development Authority (MIDA) Singapore; Mr. Mohamad Reduan Mohd Zabri, Director of MIDA Johor; Mr. Hu Aimin, Chief Executive Officer (CEO) of iMin Technology; alongside other dignitaries.

iMin’s expansion into Johor enhances its manufacturing capabilities and strengthens its supply chain to meet the global demand from its fast-growing clientele. YB Lee Ting Han, in his speech, expressed that “iMin’s strategic decision to set up a production facility here (Johor) reflects a strong vote of confidence in our country’s robust economic policies, political stability and business regulations.” He also noted that Malaysia and Singapore have shared a robust and mutually beneficial economic and trade relationship, and this collaboration will serve to keep the positive momentum going, while creating jobs and fostering innovation between the two nations.

Mr. Sikh Shamsul Ibrahim Sikh Abdul Majid, CEO of MIDA, conveyed his gratitude and congratulatory wishes to Neostra Technology Sdn. Bhd. for establishing its first production facility outside China. He emphasised that the innovative technologies and products developed by Neostra, especially the intelligent hardware system for enterprises, will seamlessly integrate into the digitalisation of industries through the Internet-of-Things (IoT) and artificial intelligence (AI) which is imperative for productivity and efficiency. “Malaysia’s technology sector is on the brink of significant growth, propelled by strategic initiatives such as the National Policy on Industry 4.0 and the Digital Blueprint. Our vision is to empower Malaysians with digital skills, enabling digital powered business and driving digital transformation through AI, data analytics, cloud computing, IoT, cybersecurity, and robotics. MIDA as the principal investment promotion agency under MITI will continue to assume a pivotal role in fostering Malaysia’s technology sector.”

Mr. Hu Aimin, CEO of iMin Technology, also expressed his excitement about the inauguration of the new production facility and shared that the plant signifies iMin’s commitment towards continued investment in innovation and advancing the level of POS hardware globally across sectors. He shared positive sentiments about Malaysia’s business landscape and the company’s expansion: “Malaysia offers a conducive environment for business growth, with its robust infrastructure, skilled workforce, and supportive government policies. Our decision to establish a manufacturing facility here is a strategic move to tap into the vast opportunities that Malaysia presents. We are confident that our presence in Malaysia will not only enhance our production capabilities, but also contribute significantly to the local economy and community. We look forward to a successful journey ahead in this promising market.”

The opening of this facility in Johor marks the start of more than just an expansion; it begins a dynamic exchange of knowledge and expertise. iMin’s deep industry knowledge and advanced technological capabilities will facilitate a valuable transfer of information and skills to the local workforce and industry partners. The integration of global expertise with local insights will drive innovation and elevate industry standards, creating a collaborative environment that will benefit both iMin and the broader business community in Malaysia.

***The End***

About MIDA
MIDA is the government’s principal promotion agency under the Ministry of Investment, Trade and Industry (MITI) to oversee and drive investments into the manufacturing and services sectors in Malaysia. Headquartered in Kuala Lumpur Sentral, MIDA has 12 regional and 21 overseas offices. MIDA continues to be the strategic partner to businesses in seizing the opportunities arising from the technology revolution of this era. For more information, please visit www.mida.gov.my and follow us on X, Instagram, Facebook, LinkedIn, TikTok and YouTube channel.

About iMin Technology
iMin Technology is a Singaporean-based company that was founded in 2018. Dubbed the No.1 most trusted Android POS Hardware brand in Southeast Asia, iMin develops and manufactures a wide range of intelligent commercial hardware solutions, such as electronic cash registers (ECR), mobile POS devices, kiosks and more. Their global footprint covers over 100+ countries, and they are committed to deliver Android-based POS devices that boast superior performances and effectiveness across spectrums of commercial applications.

For media enquiries:

MIDA
Ms. Noor Suziyanti Saad,
Director, Electrical & Electronics Division
E: [email protected]
Tel.: +603-2267 3575

Neostra Technology Sdn. Bhd.
Mr.Lim Sow Wei
Deputy General Manager
E: [email protected]
Tel.: +607597 0504

Singapore-Based iMin Technology Enters Johor, Malaysia With New State-of-the-Art Production Facility

• A 14MWp rooftop solar PV system to be installed at Toyo’s main buildings facilities, the largest of its kind in Kamunting, Perak.
• This allows TTM to offset 12,195 tonnes of carbon dioxide annually.
• The allowable capacity for solar PV systems under the NEM and SELCO programme has raised from 75% to 85% of maximum demand, which encourage more companies to adopt solar energy.

Kuala Lumpur, 28 August 2023 – Clean energy expert, Solarvest Holdings Berhad (“Solarvest” or the “Group”) has secured a new contract from Toyo Tyre Malaysia Sdn. Bhd. (“TTM”) to install a 14 megawatt-peak (“MWp”) rooftop solar photovoltaic (“PV”) system at its tyre manufacturing plant in Kamunting, Perak, the largest of its kind in the area.

Under the contract, the Group will undertake the engineering, procurement, construction, and commission (“EPCC”) works for the installation of solar PV system at the main buildings facilities covering a rooftop area of 96,000 square meters (“sqm”). With the expected generation of 14MWp of clean energy, it allows TTM to offset 12,195 tonnes of carbon dioxide annually.

Datuk Wira Arham Abdul Rahman, the Chief Executive Officer of Malaysian Investment Development Authority (“MIDA”), highlighted the strong dedication of TTM in maintaining sustainable operations. He emphasised, “As the world transitions to a low-carbon future and a greener economy, MIDA is taking steps to help businesses overcome the challenges and capture the opportunities on the green transition. We applaud TTM’s RE100 initiatives, which underscore their firm commitment to Environment, Social and Governance (“ESG”) principles within their corporate framework by collaborating with Solarvest to establish a rooftop solar PV system. This commitment aligns with our National Investment Aspirations (“NIA”) and the New Investment Policy “(NIP”), as well as the recently announced National Energy Transition Roadmap (“NETR”) which are crucial in nurturing sustainable growth and forging a greener future for Malaysia and rakyat.”

Executive Director and Group Chief Executive Officer of Solarvest, Mr. Davis Chong Chun Shiong (张俊雄) said, “We are delighted to have been chosen by TTM to undertake this project and appreciate the confidence they have placed in our technical expertise. With our knowledge and experience, we are confident in our ability to assist TTM in achieving optimal energy efficiency for the plant while ensuring timely project completion.”

“There is a growing interest in clean energy adoption, especially among commercial and industrial (“C&I”) players as corporate sustainability initiatives gain momentum and in anticipation of carbon pricing mechanisms. Our job pipeline remains strong with a tender book of approximately 2.2 gigawatts (“GW”) comprising large-scale power plants, C&I, and overseas projects. As a decarbonisation partner, Solarvest is committed to promoting energy transition through efficient renewable energy solutions and innovative green technologies” Mr. Davis concluded.   

Following the Malaysian government’s commitment to encouraging energy efficiency and renewable energy transition, the allowable capacity for solar PV systems under the Net Energy Metering (“NEM”) and Self-Consumption for Solar PV Installation (“SelCo”) programmes had raised from 75% to 85% of maximum demand. TTM’s sustainability initiative is commendable as one of the first companies to adopt this new capacity limit, leading to the development of one of Perak’s largest rooftop solar PV systems.

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About Malaysian Investment Development Authority
MIDA is the Government’s principal promotion agency under the Ministry of Investment, Trade and Industry (MITI) to oversee and drive investments into the manufacturing and services sectors in Malaysia. Headquartered in Kuala Lumpur Sentral, MIDA has 12 regional and 21 overseas offices. MIDA continues to be the strategic partner to businesses in seizing the opportunities arising from the technology revolution of this era. For more information, please visit www.mida.gov.my and follow us on X, Instagram, Facebook, LinkedIn, TikTok and YouTube channel.

About Solarvest Holdings Berhad
Solarvest is a clean energy expert with a multi-national presence across Asia-Pacific. The Malaysia-based company started as a one-stop solar photovoltaic system solution provider for residential, commercial & industrial, and utility-scale solar farms. Today, Solarvest also owns renewable energy generation plants with a cumulative capacity of over 100MW (on-going and completed). The company is currently venturing into other clean energy solutions including, among others, energy efficiency, low-carbon mobility, and renewable energy certificates.

Solarvest is listed on the Main Market of Bursa Malaysia. For more information, log on to https://solarvest.my

Released on behalf of Solarvest Holdings Berhad by Capital Front Investor Relations

For media enquiries, kindly contact:

MIDA
Mr. Nelson Samuel Wilson, Director of Green Technlogy
(E) [email protected]
(T) +603-22673635

Solarvest Holdings Berhad
Ms Khai Min Lim, Investor Relations Executive
(E) [email protected]

Ms. Yvette Foo, Senior Digital and PR Marketing Executive
(E) [email protected]

Solarvest Advances Toyo Tyre’s RE100 Initiative with Largest Rooftop Solar PV System in Kamunting, Perak

Kuala Lumpur, 28 August – The Malaysian Investment Development Authority (MIDA) today announced the digitisation of three key certificates in the manufacturing sector: the Manufacturing Licence, Permit PDA Certificate and Pioneer Status Certificate. This initiative is part of MIDA’s ongoing digital transformation journey, which aims to streamline government processes and delivery systems as well as to improve the ease of doing business in Malaysia.

The digitised certificates will be available through the InvestMalaysia Portal (https://investmalaysia.mida.gov.my). This portal was launched in 2021 and has since assumed an important role in facilitating investments in Malaysia. The digitisation of these manufacturing certificates will further enhance the efficiency and accessibility of the InvestMalaysia Portal, making it easier for investors to obtain the necessary approvals and permits.

“The digitisation of manufacturing certificates within the InvestMalaysia Portal is a significant step towards modernising, rethinking and re-engineering public services. This improves the investor’s journey by offering a more inclusive, seamless, and personalised service, which is very much aligned to one of the objectives of the upcoming New Industrial Master Plan 2030. Through this digitalisation initiative, MITI, through MIDA are also aiming to contribute to improved accountability, transparency and cybersecurity, all of which will further reinforce Malaysia’s positioning as a digital hub for the region.” said YB Tengku Datuk Seri Utama Zafrul Aziz, Minister of Investment, Trade and Industry (MITI).

Datuk Wira Arham Abdul Rahman, CEO of MIDA said, “Through the implementation of an end-to-end automation application process, MIDA aims to achieve shorter processing time, improve our client charter commitment to investors, and complete our digital transformation goals in supporting the industry’s current and future needs. This is a statement of our ambition to better leverage data and harness new technologies, and to drive broader efforts to build a digital economy. It will allow MIDA to respond to investors’ needs more effectively. MIDA will continue to be innovative and lead the way with supportive facilitation that promotes ease of doing business.”

A standout feature of this initiative is the integration of the Digital Organisation Trustmark seal featuring both the renowned MITI Trustmark (featured in ML and Permit PDA certificates) and MIDA Trustmark (featured in Pioneer Status Certificate). These seals are seamlessly embedded onto the license certificates, strengthening the security of the document which aligns with the provisions of the Digital Signature Act (DSA) 1997 and the Digital Signature Regulation (DSR) 1998. Moreover, the digitally enhanced certificates will incorporate a secure QR Code, providing a means of verification that assures these documents’ authenticity, which users can scan using a verification tool.

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About MIDA

MIDA is the Government’s principal investment promotion and development agency under the Ministry of Investment, Trade and Industry (MITI) to oversee and drive investments into the manufacturing and services sectors in Malaysia. Starting operations in 1967 with a relatively small set up of 37 staff, MIDA has grown to become a strong and dynamic organisation of over 700 employees. Headquartered in Kuala Lumpur Sentral, MIDA today has 12 regional and 21 overseas offices. MIDA continues to be the strategic partner to businesses in seizing the opportunities arising from the technology revolution of this era. For more information, please visit www.mida.gov.my and follow us on X, Instagram and Facebook, LinkedIn, TikTok and YouTube channel. 

Media Contacts

MIDA
Mr. Norhizam Ibrahim
Director, Information Technology System Development Division
Email: [email protected]
Tel.: +603-2267 6611

MIDA’s Digitised Manufacturing Licence, Permit PDA and Pioneer Status Certificates to Enhance the Ease of Investors’ Business in Malaysia

Kuala Lumpur, 7 Aug 2023 – EVE Energy Co. Ltd., a leading global lithium battery manufacturer, today announced the groundbreaking ceremony for its new manufacturing facility in Kulim, Kedah, Malaysia. The new factory, which will be EVE’s 53^rd, will have an initial investment of USD422 million and will focus on the production of cylindrical lithium-ion batteries to support power tools and electric two-wheelers manufacturing in the country and across Southeast Asia.

The ceremony was attended by YB Dato’ Wira Dr. Ku Abd Rahman bin Ku Ismail, Senior State Exco of Industrial and Investment, Science, Technology and Innovation and Higher Education; Ms. Lim Bee Vian, Deputy Chief Executive Officer (Investment Development) of the Malaysian Investment Development Authority (MIDA); Mr. Noor Ikhsan Bin Abdul Aziz, Chief Operating Officer of Invest Kedah; Dr. Haji Nadzman Bin Mustaffa, President of Kulim Municipal Council (MPKK); Mr. Zhou Youbin, Chinese Consulate General in Penang; Mr. Joe Chen, Director of EVE Energy Malaysia Sdn. Bhd., as well as other distinguished guests.

In his speech, Yang Berhormat Dato’ Wira Dr. Ku Abd Rahman bin Ku Ismail, Kedah Senior State Executive Council Members (Industry & Investment), noted that the Kedah State Government through Invest Kedah Berhad as a One Stop Centre for investment is always ready to provide assistance and facilitate a smooth investment process, starting from pre-investment all the way through to post-investment stages. This hands-on or handholding approach is one of the ways we approach investors more friendly in order to provide the best service. He also hopes that EVE Energy will continue to expand its footprint in Kulim and achieve unparalleled success in its operations.

Ms. Lim Bee Vian, DCEO (Investment Development) of MIDA, said in her speech, “Today’s celebration marks a crucial milestone that not only benefits EVE but also paves the way for more companies to invest in Malaysia in EV industry and its ecosystems. By collaborating with industry leaders like EVE, we can foster an environment of innovation and technological advancement.” “This project aligns perfectly with our nation’s Twelfth Malaysia Plan (12MP) and the National Automotive Policy 2020 (NAP), as we are committed to achieving net-zero greenhouse gas emissions by 2050. By establishing this cylindrical battery manufacturing plant in Malaysia, we demonstrate our commitment to competitiveness in the international market”, highlighted Ms. Lim.

She further added, “Our robust ecosystem, supported by strong R&D and standards facilities (through agencies like SIRIM), along with a thriving components’ sub-sector, positions us to cater to the entire EV value chain.”

“Relying on EVE’s domestic advantages and operational experience, we will build a cylindrical battery production base in Malaysia to support the electric two-wheelers and power tools in Malaysia. This initial project will be constructed in phases, and the construction period will not exceed three (3) years. This is an important milestone for EVE to expand our global businesses, enhance our comprehensive competitiveness and to further grow our global market share. And most importantly, to let us contribute to the development of electrical power ecosystem in Malaysia,” said Mr. Joe Chen, Director of EVE Energy Malaysia Sdn. Bhd.

-ENDS-

About MIDA

MIDA is the government’s principal investment promotion and development agency under the Ministry of Investment, Trade and Industry (MITI) to oversee and drive investments into the manufacturing and services sectors in Malaysia. Headquartered in Kuala Lumpur Sentral, MIDA has 12 regional and 21 overseas offices. MIDA continues to be the strategic partner to businesses in seizing the opportunities arising from the technology revolution of this era. For more information, please visit www.mida.gov.my and follow us on Twitter, Instagram, Facebook, LinkedIn, TikTok and YouTube channel.

About EVE Energy Co. Ltd.

Established in 2001, EVE Energy Co., Ltd. (hereinafter referred to as EVE) was first listed on Shenzhen GEM in 2009. After 22 years of rapid development, EVE is now a global lithium battery company which possesses core technologies and solutions for consumer batteries, power batteries and energy storage batteries. More information about EVE’s products can be found at www.evebattery.com/en

Media Contacts

MIDA
Mr. Riduan Abdul Rahman
Director, Transportation Technology Division
Email: [email protected]
Tel.: +603-2267 6634

EVE Energy Malaysia Sdn. Bhd.
Mr. Joe Chan
Director
Email: [email protected]
Tel.: +852-2195 3966

EVE Energy Holds Grounbreaking Ceremony for Its Plant in Kulim, Kedah

KUALA LUMPUR, 3 August 2023 – Recognising decarbonisation greatly fuels the rapid growth of power semiconductors, in particular those based on wide bandgap materials, Infineon Technologies AG (FSE: IFX / OTCQX: IFNNY) (“Infineon”), a leader in Power Systems, is now taking a further step to shape the industry by significantly expanding its Kulim fab – over and above the original investment announced in February 2022. The company unveiled its plan to build the world’s largest 200mm SiC (silicon carbide) Power Fab. Infineon will invest additionally up to €5 billion over the next five years in Kulim in a second phase of the construction of module 3.

The Minister of Investment, Trade and Industry (MITI), YB Senator Tengku Datuk Seri Utama Zafrul Aziz said, “Infineon’s expansion of their world-class silicon carbide facility in Kulim represents a significant milestone in Malaysia’s journey towards developing advanced manufacturing capabilities. This expansion not only creates high-skilled employment opportunities, but also positions Malaysia as a frontrunner in driving green technologies, a crucial aspect of achieving our global sustainable development goals. We value the trust, confidence and recognition in Malaysia’s promising growth prospects shown by esteemed German corporations like Infineon. The cutting-edge power semiconductor technologies produced in Infineon’s SiC Power Fab is a milestone development towards elevating Malaysia’s position in the semiconductor industry, while also fostering a partnership focused on creating a more sustainable future for our nation and the world”.

Commenting on Infineon Technologies’ monumental achievement, the Chief Executive Officer of the Malaysian Investment Development Authority (MIDA), Datuk Wira Arham Abdul Rahman, expressed, “Infineon Technologies’ achievement in Malaysia is a source of great pride for MIDA. The company’s advanced manufacturing operations and continuous expansion in the country, along with its adoption of new digital capabilities, are truly commendable. MIDA reaffirms its commitment to facilitate industry players including Infineon Technologies to foster further growth in the electrical and electronics (E&E) industry. This investment reflects the nation’s commitment to fostering an inclusive and vibrant economy, generating various opportunities for local talents and industry supply chains.”

Jochen Hanebeck, CEO of Infineon, expressed appreciation to the Government of Malaysia, particularly MITI and MIDA, for their instrumental role in realising Infineon Technologies’ ambitious vision for significant expansion in Malaysia.

“The market for silicon carbide shows accelerating growth, not only in automotive but also in a broad range of industrial applications such as solar, energy storage and high-power EV charging. With the Kulim expansion, we will secure our leadership position in this market,” stated Jochen Hanebeck.

“With the industry’s leading scale and a unique cost position, we are leveraging our competitive position of best-in-class SiC trench technology, the broadest package portfolio and unrivaled application understanding. These factors are the areas of differentiation and success in the industry,” he added.

Malaysia assumes an important role in the global semiconductor supply chain ecosystem. Infineon Technologies’ further investments complement the National Investment Aspirations (NIA) and the New Industrial Master Plan 2030’s focus on attracting high-tech and high-value investments to support the country’s economic growth. The E&E industry is a significant catalyst for the Malaysian economy, playing a pivotal role in its growth and development, contributing nearly 7% of the country’s Gross Domestic Product (GDP). In the first quarter of 2023, the industry recorded RM2.06 billion worth of approved investments, initiated from 16 projects which would generate 1,729 higher-paying job opportunities. E&E exports for the same period were RM142 billion, a 3.3% increase compared to the corresponding period last year.

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About MIDA
MIDA is the government’s principal investment promotion and development agency under the Ministry of Investment, Trade and Industry (MITI) to oversee and drive investments into the manufacturing and services sectors in Malaysia. Starting operations in 1967 with a relatively small set up of 37 staff, MIDA has grown to become a strong and dynamic organisation of over 700 employees. Headquartered in Kuala Lumpur Sentral, MIDA has 12 regional and 21 overseas offices. MIDA continues to be the strategic partner to businesses in seizing the opportunities arising from the technology revolution of this era. For more information, please visit www.mida.gov.my and follow us on Twitter, Instagram, Facebook, LinkedIn, TikTok and YouTube channel.

About Infineon
Infineon Technologies AG is a global semiconductor leader in power systems and IoT. Infineon drives decarbonization and digitalization with its products and solutions. The company has around 56,200 employees worldwide and generated revenue of about €14.2 billion in the 2022 fiscal year (ending 30 September). Infineon is listed on the Frankfurt Stock Exchange (ticker symbol: IFX) and in the USA on the OTCQX International over-the-counter market (ticker symbol: IFNNY).

Further information is available at www.infineon.com

Follow us: Twitter – Facebook – LinkedIn

Media contacts:

MIDA
Ms. Noor Suziyanti Saad
Director, Electrical and Electronics Division, MIDA
Email: [email protected] | DL: +603-2267 3575

Infineon
Ms. Mazilifah Mohd Razak
Senior Communications Manager, Infineon Technologies (Kulim)
Email: [email protected] | Tel: +604-494 7224

Infineon to Build the World’s Largest 200mm SiC Power Fab in Kulim, Malaysia

PENANG, 1 August 2023 — Enovix Corporation (“Enovix”) (Nasdaq: ENVX), an advanced silicon battery company and YBS International Berhad (“YBS”) (MESDAQ: YBS:KLS), a Malaysia-based investment holding company with segments including electronic manufacturing and assembly, high-precision engineering, and precision machining and stamping, among others, came together today to mark a momentous occasion – the signing ceremony of the Manufacturing Supply Agreement (MSA). The event signifies the commencement of a strategic partnership between the two industry players and celebrates the establishment of a cutting-edge next-generation battery manufacturing facility in Penang Science Park.

Datuk Wira Arham Abdul Rahman, Chief Executive Officer of the Malaysian Investment Development Authority (MIDA) congratulates both Enovix and YBS on their partnership through the signing of this agreement. “The establishment of Enovix’s manufacturing hub in Malaysia marks a momentous step, bringing advanced silicon anode batteries technology to our shores. This presents a unique opportunity for local companies like YBS to collaborate and become an integral part of the global supply chain, benefitting from Enovix’s depth of expertise, economies of scale, and access to the latest technologies. Such alliances create a dynamic synergy, contributing to the robust growth of our nation’s economy, aligning perfectly with our National Investment Aspirations (NIA) and the New Investment Plan (NIP). Your partnership strengthens Malaysia’s position as an innovation-driven economy, and will allow us to continue creating new and exciting career opportunities for Malaysians.”

YAB Chow Kon Yeow, Caretaker Chief Minister of Penang stated, “Penang’s commendable performance speaks to the robust local ecosystem the state possesses, comprising of multinationals (MNCs), large local corporations (LLCs) and small-medium enterprises (SMEs). It is worth noting that the MNCs have played a significant role in developing the local capabilities, which translates to an increasing participation of the homegrown companies in the global supply chain. I am confident that the collaboration between YBS and Enovix today will follow similar path.”

Jackie Yong Chan Cheah, CEO of YBS International Berhad, expressed, “Enovix has an exciting battery technology. We believe Enovix will become a market leader and we look forward to supporting the company’s goals and sharing in its growth and success.”

Ajay Marathe, COO of Enovix Corporation, said, “We’re thrilled to announce this significant milestone in our journey to scale. In addition to working with YBS, we look forward to collaborating with MIDA, the Northern Corridor Economic Region and InvestPenang to secure investment incentive which will support our long-term goals in Malaysia. Malaysia, and especially the Penang region, is rich with semiconductor-trained engineers who have a manufacturing-excellence mindset. We’re pleased to advance our presence in the region to support our rapid growth.”

As part of the MSA, YBS, under the direction of Enovix, will provide the building and capital for equipment and labour for Fab2 and the Gen2 Autoline 1. Enovix announced earlier this year that it established Enovix Malaysia Sdn. Bhd. In addition, Enovix has hired over 30 people in Malaysia including the two leaders announced in March this year.

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About MIDA

MIDA is the Government’s principal investment promotion and development agency under the Ministry of International Trade and Industry (MITI) to oversee and drive investments into the manufacturing and services sectors in Malaysia. Starting operations in 1967 with a relatively small set up of 37 staff, MIDA has grown to become a strong and dynamic organisation of over 700 employees. Headquartered in Kuala Lumpur Sentral, MIDA today has 12 regional and 21 overseas offices. MIDA continues to be the strategic partner to businesses in seizing the opportunities arising from the technology revolution of this era. For more information, please visit www.mida.gov.my and follow us on Twitter, Instagram and Facebook, LinkedIn, TikTok and YouTube channel.

About InvestPenang

InvestPenang is the Penang State Government’s principal agency for promotion of investment. Its objectives are to develop and sustain Penang’s economy by enhancing and continuously supporting business activities in the State through foreign and local investments, including spawning viable new growth centres. To realize its objectives, InvestPenang also runs initiatives like the SMART Penang Center (providing assistance to SMEs) and Penang CAT Center (for talent attraction and retention). For more information, please visit https://investpenang.gov.my/ and follow InvestPenang’s social media channels: Facebook; LinkedIn.

About Enovix

Enovix is on a mission to power the technologies of the future. Everything from IoT, mobile and computing devices, to the vehicle you drive, needs a better battery. The company’s disruptive architecture enables a battery with high energy density and capacity without compromising safety. Enovix is scaling its silicon-anode, lithium-ion battery manufacturing capabilities to meet customer demand. For more information visit www.enovix.com and follow us on LinkedIn.

About YBS Internatational Berhad

YBS International Berhad (formerly known as LNG Resources Berhad) was incorporated in Malaysia as a public limited company in year 2002 under the Companies Act, 2016 as an investment holding company and was officially listed on the MESDAQ Market of the Bursa Malaysia Securities Berhad in year 2003.

Media Contacts:

MIDA
Ms. Noor Suziyanti Saad
Email: [email protected]
Tel.: +603 – 2267 3575

InvestPenang
Elaine Cheah / Michelle Goy
Email: [email protected] / [email protected]
Tel.: +604 – 646 8833

Enovix
Kristin Atkins
Email: [email protected]
Phone: +1 (650) 815-6934

YBS
Lim Ewe Huat
Email: [email protected]
Phone: +6013 – 420 0897

Enovix Joins Forces with YBS International Berhad to Unveil Its Next-Generation Battery Manufacturing Facility in Penang Science Park

Kuala Lumpur, 29 August 2022 – Ten Memorandums of Understanding (MOUs) were signed and exchanged between Ajlan & Bros Holding Group and prominent Malaysian companies within the fields of manufacturing, electrical and electronics, aerospace, e-commerce, construction, healthcare, technology, entertainment and cybersecurity today. The formalised partnerships are anticipated to collectively represent potential investments of USD7.5 billion or close to RM34 billion (USD7.5 billion; BNM exchange rate USD1 = MYR 4.47).

Among the MOUs signed include collaborations between the Saudi conglomerate with Dagang NeXchange Berhad (DNeX), Aerodyne Systems Sdn. Bhd., National Aerospace & Defense Industries Sdn. Bhd. (NADI), Twistcode Technologies Sdn. Bhd., CyberSecurity Malaysia, Malaysian Genomics Resource Centre Berhad, Meta Universe Sdn. Bhd., Light Up 7 Sdn. Bhd. and My Events Sdn. Bhd.

YB Dato’ Seri Mohamed Azmin Ali, Senior Minister and Minister of International Trade and Industry (MITI) remarked, “Malaysia is looking for new collaborations to grow together and such partnerships with Ajlan & Bros Holding Group reaffirm our aspirations. During the Round Table Networking Session on 24 June 2022 with the group, we explored potential investments for prominent Malaysian companies in various sectors and identified the vast prospects for both parties to exploit for mutual gain. Indeed, Malaysia is keen to explore new opportunities in the Kingdom’s ambitious Vision 2030. While Malaysia has achieved numerous economic milestones, we must step up efforts to leverage on the opportunities to achieve greater economic success and build stronger and meaningful bilateral relations with the Kingdom. Our home-grown companies must be well-positioned to emulate success stories like Ajlan & Bros Holding Group into their corporate transformation programme.”

“The Kingdom of Saudi Arabia has become a successful model for many countries around the world to develop entrepreneurship and economic diversification. Their prominent companies need no introduction, having won international accolades and prestigious awards. This fits well with our National Investment Aspirations (NIA) which encourages a sustained flow of quality investments in new and complex growth areas. Through this initiative, NIA aims to foster quality innovation and sophisticated projects in Malaysia,” added the Senior Minister.

Datuk Wira Arham Abdul Rahman, MIDA CEO said, “We are proud that Ajlan & Bros Holding Group will be partnering our local companies to access the wider market in the ASEAN region. MIDA has been working closely with Ajlan & Bros Holding Group and we are optimistic that this collaboration will be a stepping stone to provide more rewarding connections for both our business communities.”

He added, “Our players will also be leveraging this partnership to enlarge their footprint globally in the Kingdom. MIDA continues to empower and motivate the private sector through active communication channels and facilitating investor connections, creating a lucrative investment environment that characterizes the abundance of qualitative enablers and competitive advantages.”

Ajlan & Bros Holding Group is among the Forbes List of Top 100 Arab Family Businesses in the Middle East for 2021. The Group has been actively expanding its presence globally through partnerships and collaborations across a variety of industry sectors. The Chairman of the Group, Mr. Ajlan Bin Abdulaziz Al Ajlan is also the Chairperson of the Council of Saudi Chambers of Commerce and Industry (CSC) where he represents the Riyadh Chamber of Commerce and Industry.

“The move aims to strengthen existing economic relations between two countries by developing effective programmes and mechanisms for collaboration in efforts for all future projects of mutual interests and thereafter. Partners will co-operate and work together in the fields of trade, investment, knowledge exchange, and facilitate joint economic efforts during the next stage, thereby promoting sustainable economic development in both countries.” said Sheikh Mohammed Abdulaziz Al Ajlan, Vice Chairman Ajlan & Bros. Holding Group.

As of March 2022, Malaysia has recorded a total of 18 approved manufacturing projects with Saudi participation, amounting to RM5.13 billion (USD1.65 billion) of investments. These projects are anticipated to create 2,560 jobs across industries such as chemical and chemical products, food manufacturing, electronics and electrical products, textiles and textile products, plastic products, non-metallic mineral products, machinery and equipment as well as scientific and measuring equipment.

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ABOUT MIDA

MIDA is the government’s principal investment promotion and development agency under the Ministry of International Trade and Industry (MITI) to oversee and drive investments into the manufacturing and services sectors in Malaysia. Headquartered in Kuala Lumpur Sentral, MIDA has 12 regional and 20 overseas offices. MIDA continues to be the strategic partner to businesses in seizing the opportunities arising from the technology revolution of this era. For more information, please visit www.mida.gov.my and follow us on Twitter, Instagram, Facebook, LinkedIn, TikTok and YouTube channel.

ABOUT AJLAN & BROS HOLDING GROUP

Ajlan & Bros Holding Group is part of Ajlan & Bros Group of Companies, which is a multinational investment conglomerate and headquartered in Saudi Arabia with extensive global private equity, real estate and industrial investments.

For further information, please contact:

Mr. Faizal Jalaludin
Director, Foreign Investment Division, MIDA
Tel: 03-2267 6650 | Email: [email protected]

Dr. Abdul Khaliq Rasheed
Consultant, Malaysia/ASEAN, Ajlan & Bros Group
Tel: +966114665555 | M: +60189875941

Strategic MOUs Inked Between Ajlan & Bros Holding Group and Notable Malaysian Companies

August 29, 2022, Malaysia – A.P. Moller-Maersk (Maersk) has signed a Memorandum of Understanding (MOU) with the Malaysian Investment Development Authority (MIDA), to drive high-quality investments into Malaysia as one of the logistics hubs in ASEAN, creating better synergies and value-added services for customers, and contributing to the growth and development of the supply chain sector in the Malaysian economy.

The MOU has been signed by Sivasuriyamoorthy Sundara Raja, Deputy Chief Executive Officer (DCEO), Investment Promotion and Facilitation of MIDA and Rupesh Jain, Managing Director of Maersk – Thailand, Malaysia and Singapore today at MIDA Headquarters in Kuala Lumpur.

“Logistics is a cornerstone of Malaysia’s economy. By connecting suppliers to manufacturers, and consumers to businesses, we support the growth of various industries. I applaud Maersk for their continuous efforts in taking the lead on initiatives to uplift the logistics industry. The MOU with Maersk will bring in more targeted global investments into Malaysia through strategic and value-added engagement approach to multinational companies. By leveraging Maersk’s capabilities in integrated logistics, we can transform Malaysia into a regional logistics hub in ASEAN, further boosting infrastructure development and free trade,” says Sivasuriyamoorthy Sundara Raja, DCEO, Investment Promotion and Facilitation of MIDA.

Both parties will work together to attract high-tech and high impact investments in sectors including automotive, electrical and electronics (E&E), machinery and equipment, medical devices, aerospace, renewable energy, and consumer technology. Meanwhile, the two sides will build a mutually beneficial eco-system in focus markets to maximize FDI opportunities into Malaysia.

“As our customers are reconfiguring their supply chains to make them more agile, resilient & sustainable, Maersk is constantly growing our logistics footprints globally to support this transformation for our customers. With the ambition to provide truly integrated logistics to our customers, this collaboration with MIDA allows us to leverage our strengths and combine with Malaysia’s geographical advantage to mount solutions in the region,” says Rupesh Jain, Managing Director of Maersk – Thailand, Malaysia and Singapore.

“One of Maersk’s key focuses has been creating value to our customers in the geographies that we operate in. This MOU is a strong testament, and we expect that through our cooperation with MIDA, we can help position Malaysia as an attractive investment destination for potential investors. The country’s geostrategic position has made it a natural hub. By further enhancing Maersk’s logistics strength, we will contribute towards the growth and development of Malaysian supply chain sector,” adds Goh Hean Chun, Managing Director, Maersk Malaysia.

Maersk Malaysia commenced its operations in 1975. Today, Maersk employs more than 300 staff with representations in 12 locations throughout Malaysia and warehouse facilities in seven locations with a capacity of up to 68,000 sq metre. More locations and capacity are expected to be added in the near future.

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About MIDA

MIDA is the government’s principal investment promotion and development agency under the Ministry of International Trade and Industry (MITI) to oversee and drive investments into the manufacturing and services sectors in Malaysia. Headquartered in Kuala Lumpur Sentral, MIDA has 12 regional and 20 overseas offices. MIDA continues to be the strategic partner to businesses in seizing the opportunities arising from the technology revolution of this era. For more information, please visit www.mida.gov.my and follow us on Twitter, Instagram, Facebook, LinkedIn and YouTube.

About Maersk

A.P. Moller – Maersk is an integrated container logistics company working to connect and simplify its customers’ supply chains. As the global leader in shipping services, the company operates in 130 countries and employs approximately 100,000 people. Website: www.maersk.com

For more information, please contact: 

MIDA:
Ms. Habibah Binti Enok
Director, Oil and Gas, Maritime and Logistics Division, MIDA
E: [email protected]
T: +603-2267 3539

Maersk:
Bonnie Huang

Media Relations Manager, Maersk Asia Pacific[email protected]

MIDA And Maersk Enter Into Strategic Partnership To Promote Investments In Malaysia

Kuala Lumpur, August 25, 2022 — The Malaysian Investment Development Authority or MIDA hosted its Invest Series: Unfolding States ‘Business Potential’ on 25 August 2022 at Perdana Hall, MIDA Sentral, Kuala Lumpur, in collaboration with the Terengganu State Government through its investment promotional arm, Invest Terengganu. The event, which was previously held annually but had to be halted for the past two years due to the COVID- 19 pandemic, returns this year as an effort by the respective government agencies to highlight investment opportunities in Terengganu, drawing inspiration from Terengganu’s Chief Minister YAB Dato’ Seri Dr. Ahmad Samsuri Mokhtar’s slogan, “Your investment destiny starts here, Terengganu. We will transform your investment into reality”.

Datuk Arham Abdul Rahman, Chief Executive Officer of MIDA remarked “We are pleased to continue the momentum by presenting the first state, under the second round of the Invest Series programme, by highlighting the competitive advantage of investing in the Terengganu state. I applaud the state for its intensified efforts to focus on pursuing more high quality, capital-intensive projects and those that support the sustainable development agenda. This trajectory is aligned to the Shared Prosperity Vision (SPV) 2030 and the Twelfth Malaysia Plan (RMK12). The targeted investments by the state is also aligned well with Malaysia’s National Investment Aspirations (NIA) and Environmental, Social and Governance (ESG) principles.”

“Terengganu has been one of the preferred and selected states for investment by the business community. From 2017 to June 2022, there were 29 manufacturing projects approved and implemented in Terengganu with a total investment of RM2.3 billion. More than half of these investments were from foreign sources, recording a total of RM1.27 billion. These projects have been instrumental in creating over 1,727 job opportunities, mainly in the fields of petroleum products (including petrochemicals), chemicals and chemical products, non-metallic mineral products, wood and wood products, as well as machinery and equipment.” Datuk Arham added.

“The Kerteh Bioplymer Park, an East Coast Economic Region (ECER) hub for bio-economy and specialty chemicals that spans over 140-hectares is growing fast with both Phase 1 and Phase 2 fully taken up. The third phase of the park opened last year to accommodate growing demand from investors. To date, the total accumulated investment in Kerteh Biopolymer Park has increased to RM5.6 billion, with more than 5,000 employment created for the people of Terengganu” said Dato’ Haji Tengku Hassan Tengku Omar, Chairman of Terengganu State Committee for Trade, Industry, Regional Development and Administration Wellbeing.

“Terengganu has committed itself to increase economic growth by adding more industrial parks which are Kerteh Terengganu Industrial Park, Pulau Kerengga Industrial Park and Terengganu Silica Valley. This is another step towards making sure that there are good prospects not only now but into the future in Terengganu” Dato’ Haji Tengku Hassan added.

The potential for profit in the state is vast. With rich natural resources and incentives provided by both local agencies as well as federal ones, it would be hard not to see what’s     on offer when looking at investing here. The state currently has 25 industrial areas covering    4,158.26 hectares of land, located in one of the most vital maritime routes, offers competitive cost of doing business and excellent infrastructure. In addition, access to the East Coast Railway Link (ECRL) with a total length of 688 km and a route connecting Port Klang, Selangor, Pahang, Terengganu, and ending in Tumpat, Kelantan that will be completed by the year 2026 will also serve as a catalyst for significant economic  spill over benefits for Terengganu. With 12 flights to and from Kuala Lumpur, the deepest water depth port in Kemaman and 358 km of dual-carriage ways running from Kuala Terengganu to Gombak of the east coast highway makes them a vital and strategic link, promoting future growth of the state’s economy.

The State Government has identified a group of clusters that it will be focusing on in order to create sustainable and innovative industries. These include tourism, manufacturing, oil and  gas, biotechnology, communications, content, infrastructure and emerging technologies.

The tourism cluster presents a huge opportunity for investment in the industry. This cluster include   Urban, Eco and Island Tourisms as well 202 new or existing products which provide potential to grow exponentially with time. Meanwhile, the manufacturing sector has its sights set in two different areas: maritime or marine-based industries which cover shipbuilding/maintenance   repair and overhaul as well wood-based manufacturing needs for future development opportunities. With the focus towards onshore and offshore activities, the oil and gas industry spans a wide array of opportunities from extraction to distribution.

The biotechnology industry on the other hand focuses on producing products from renewable waste, agriculture and aquaculture projects while at the same time strengthening  supply chains in bio-technology through Bio Medical goods for pharmaceuticals or wellness purposes. Terengganu States’ goal is not just to become a hub for trade, but also educational  and entertainment centres with opportunities ranging from the family-oriented fun to edutainment content creation. Terengganu State is also taking advantage of Industry 4.0 to help grow and advance its economy while also making it more competitive in the international markets.

Participants can expect a comprehensive introduction to the Terengganu State’s business and investment opportunities and details on assistance and facilitation to companies and potential investors. This event is important to highlight and attract potential high-value and high-tech investment projects to the state of Terengganu from  both domestic and foreign investors,  thus creating quality employment for the local people.

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About MIDA

MIDA is the government’s principal investment promotion and development agency under the Ministry of International Trade and Industry (MITI) to oversee and drive investments into the manufacturing and services sectors in Malaysia. Headquartered in Kuala Lumpur Sentral, MIDA has 12 regional and 20 overseas offices. MIDA continues to be the strategic partner to businesses in seizing the opportunities arising from the technology revolution of this era. For more information, please visit www.mida.gov.my and follow us on Twitter, Instagram, Facebook, LinkedIn and YouTube.

About Invest Terengganu

The Invest Terengganu Unit is a division in Unit Perancang Ekonomi Negeri Terengganu that aims to resolve socio-economic issues and increase household income through new business opportunities, develop entrepreneurs, and promote economic activities across urban areas of the state. Its vision and mission is to be a major player in the country’s investment hub, working towards creating an attractive environment for investors and explore new opportunities along these lines.

For more information, please contact:

MIDA
Mr. Sukri Abu Bakar
Director, Domestic Investment Division, MIDA
Email: [email protected] | DL: + 603- 2267 3685

Invest Terengganu
Mr. Mohd Adzhar Bin Mohd Zahari
General Manager
T: +6012-693 2961

Unit Perancang Ekonomi Negeri Terengganu
Mr. Hanif Bin Sulaiman
Assistant Secretary of State, Trade, Industry,
Regional Development and Administration Wellbeing
T: +6014-8096299

MIDA Collaborates With Invest Terengganu To Highlight The State’s Investment Opportunities

Kulai, 25 August YTL Power International Berhad (‘YTL Power”), through its subsidiary, YTL Data Center Holdings Pte. Ltd. YTL DC and Sea Ltd. marked a milestone today with a ground breaking ceremony for the development of the Sea Data Center, the first phase of the 500MW YTL Green Data Center Park and a RM1.5bil investment into Johor, Malaysia. The first phase will be a Tier III certified facility equipped with best in class green power and connectivity which will be able to accommodate up to 72MW of capacity.

With YTL DC’s expertise and experience in building and managing data centers fibre infrastructure and renewable energy, the YTL Green Data Center Park will be the largest of its kind regionally, spearheading Johor’s position as a world-class data hub.

Menteri Besar of Johor, YAB Dato’ Onn Hafiz Ghazi, who officiated the event commented on how the Green Data Center Park will impact the state, “As Johor has grown exponentially over the past few years, we welcome developments such as these, particularly green and sustainable projects that will boost the state’s economy. The digital economy has thrived since the pandemic, and this project will provide employment opportunities that will attract diverse multiskilled talents to the state, making Johor attractive to foreign direct investments. Importantly, we are proud that Johor is gaining momentum in the regional data center market where YTL DC plays an important role in the value chain.”

Also present to witness the event was Ms. Lim Bee Vian, Deputy Chief Executive Officer (Investment Development) of the Malaysian Investment Development Authority ( She said, “Companies today are strongly encouraged to embrace digitalisation because such advances enable businesses to innovate and thrive in an increasingly digital world. The establishment of such data centers here will push industry aspirations further. Today’s event is a testament to Malaysia’s capability to host such projects due to our advancements in digital infrastructure and YTL DC and S ea Limited’s capabilities to drive such projects in this region.

“With the combined efforts from the Government through MyDIGITAL blueprint and the establishment of Digital Investment Office (DIO) it will allow Malaysia to realise our vision of being the digital capital of Asia, a vibrant and leading edge location for companies to meet their data management and analysis needs in a sustainable manner. As Malaysia embarks on its journey to become a smart nation, I believe that YTL DC will play a key role in building our digital infrastructure.” added Ms. Lim.

With Sea being the anchor tenant for YTL’s Data Center Green Park, the new three storey green facility will help reduce its carbon footprint and meet sustainability goals. Targeted to be completed by the first quarter of 2024, the green building will feature 24 data hall suites, M&E rooms, office space, storage, and parking facilities.

“This essentially means that YTL will be able to meet the infrastructure, power, and connectivity needs of our operations in the region, with Johor’s state government and MIDA as our key expansion partners. We are committed to investing in the growth of the digital economy in Malaysia, and in Johor in particular, and contributing to Malaysia’s Digital Economy Agenda.” said Ye Gang, Sea’s Co founder Group Chief Operating Officer.

Dato Yeoh Seok Hong, Managing Director of YTL Power added, “This marks a new phase of our partnership with Sea Ltd. We are excited to provide world-class, green infrastructure to our partners using our Group’s deep expertise in solar energy, data centers, telecommunications, construction and property development. With the overwhelming interest that we have received, it is our vision that the YTL Green Data Center Park will be the largest and most successful of its kind in Asia.”

The YTL Green Data Center Park is expected to be a catalyst of the digital infrastructure in Johor. Not only will it transform Johor’s economy by tapping into new high growth areas but it is also expected to spur the local economy by creating a conducive, productive and competitive business environment which will further improve the social well-being and quality of life for Malaysians.

Also present at the ceremony were representatives from various state and federal organizations, including the Iskandar Regional Development Authority (IRDA), Tenaga Nasional Berhad (TNB) as well as other distinguished guests.

Earlier this April, YTL DC had announced the development of the 275 acre data center campus in Kulai, the largest data center park in Malaysia.

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About MIDA
MIDA is the government’s principal investment promotion and development agency under the Ministry of International Trade and Industry ( to oversee and drive investments into the manufacturing and services sectors in Malaysia. Headquartered in Kua la Lumpur Sentral, MIDA has 12 regional and 20 overseas offices. MIDA continues to be the strategic partner to businesses in seizing the opportunities arising from the technology revolution of this era. For more information, please visit www.mida.gov.my and follow us on Twitter, Instagram, Facebook, LinkedIn, TikTok and YouTube channel.

About Sea Limited
Sea Limited (NYSE: SE) is a leading global consumer internet company founded in Singapore in 2009. Our mission is to better the lives of consumers and small businesses with technology. We operate three core businesses across digital entertainment, e-commerce, as well as digital payments and financial services, known as Garena, Shopee, and SeaMoney, respectively. Garena is a leading global online games developer and publisher. Shopee is the largest pan-regional e-commerce platform in Southeast Asia and Taiwan. SeaMoney is a leading digital payments and financial services provider in Southeast Asia.

About YTL Power International Berhad
YTL Power International Berhad (YTL Power) is an international multi-utility infrastructure group with a strong track record in developing greenfield projects and acquiring operational assets through competitive auctions. YTL Power is listed on the Main Market of Bursa Malaysia a Securities Berhad, the Malaysian stock exchange, and is active across key segments of the international utility industry. YTL Power, Malaysia’s first independent power producer, owns Wessex Water Limited, a water and sewerage provider in the United Kingdom, and YTL Power Seraya Pte Limited, owner of the electricity retailer Geneco, which has a total licensed capacity of 3,100 MW in Singapore. YTL Power has a minority stake in PT Jawa Power, the owner of a 1,220 MW coal-fired power plant in Indonesia. YTL Power is involved in communications and internet-based solutions and services through YTL Communications Sdn Bhd – the operator of the “Yes” telecommunications platform, the first telco to launch 5G services in Malaysia. YTL Power is also currently developing Brabazon, Bristol, a mixed-use residential and commercial property project in the UK.

About YTL Data Center Holdings Pte. Ltd.
YTL Data Center Holdings Pte. Ltd. (YTL DC) is the digital infrastructure subsidiary of YTL Power. Headquartered in Singapore, it enables digital technology leaders to utilise trusted infrastructure that can empower their success. The company offers data center services that enable scaling with agility and speed, delivering comprehensive customer centric solutions. For more details on YTL DC, please visit: http://ytldatacenters.com

For media enquiries, please contact:

MIDA
Ms. Rosedalina Ramlan
Director, Business Services and Regional Operations Division, MIDA
Email: [email protected] | DL: 603-2267 3515

SEA LIMITED
Investors/analysts: [email protected]
Media: [email protected]

YTL DC
Ms. Nina Jamil
Mobile: +60123874322
Email: [email protected]

Ms. Adriana Aris
Mobile: +60183093741
Email: [email protected]

YTL Data Centers and Sea Break Ground with the RM1.5bil First Phase of the 500MW YTL Green Data Center Park in Johor

Kuala Lumpur, 15 August 2022 – The Malaysian Investment Development Authority (MIDA) and PERODUA are gearing up through a strategic partnership to introduce the MIDA-Perodua Digital Transformation Ecosystem Programme that was held today at MIDA’s headquarters. The programme aimed to upgrade local automotive suppliers to the next level by using cutting-edge technologies and machinery and to digitalise their manufacturing processes through adoption of Industry 4.0.

“Local companies play a major role in building the nation’s industry ecosystem–geared to support large companies and MNCs. The initiation of the MIDA-PERODUA collaboration in 2020 was crucial to ensure a steady development of our local player’s capabilities in the automotive industry. Under MIDA’s initiative to facilitate these companies to adopt digitalisation and Industry 4.0, we have been successful to contributing immense growth in PERODUA’s manufacturing volume, through the empowerment of its industry partners and service providers.” said Datuk Arham Abdul Rahman, Chief Executive Officer of MIDA.

“The Government has undertaken concerted efforts to review existing policies and recalibrate investment strategies to ensure that Malaysian business environment remains conducive to global investors. The Government has also been persistently undertaking efforts to promote and facilitate local companies to scale up and accelerate their adoption of smart manufacturing and Industry 4.0 technology through various incentives and facilities.” added Datuk Arham.

For 2022, MIDA continued its initiatives through domestic investment seminars, engagement with national associations and chambers of commerce, industry linkage/supply chain programmes and domestic investment coordination platform commitments. MIDA will endure to coordinate business-matching sessions between anchor companies and potential local suppliers/providers within specific industries, from networking arrangements for companies and potential funders and technology providers. As of 30 June 2022, 238 Malaysian-owned companies were approved with business grants valued at RM138.5 million. The recipients were SMEs from labour-intensive industries such as plastics, wood, furniture and textiles, while the rest were from services-related industries.

Meanwhile Dato’ Sri Zainal Abidin Ahmad, PERODUA President and Chief Executive Officer said “The MIDA-PERODUA Digital Transformation Ecosystem Programme is aligned with the Government’s efforts to enhance local technology ecosystem development activities in terms of supply and value chains, research and development activities, and innovation and commercialisation.

The programme has shown a promising sign as the first group of participants had implemented their proposed projects. This event is to showcase the first group’s progress as well as to welcome the second group into the project as they too have presented feasible Industry 4.0 ideas to be implemented within their operations.”

He added “the implementation of Industry 4.0 is not only for the automotive supplier’s benefit, but the impact of this programme will contribute greatly to the national’s digital transformation agenda. The programme also can fast track Malaysia’s industries, from small to large, as it provides both funds and guidance. PERODUA’s role has always been to develop the automotive ecosystem and this programme is another example of our commitment towards this objective.”

The first phase of MIDA-PERODUA strategic partnership has brought forth three (3) potential PERODUA friendly partners, including LSF Technology Sdn.Bhd., J.K. Wire Harness Sdn. Bhd. and Autoliv Hirotako Safety Sdn. Bhd. These companies have also been granted Domestic Investment Strategic Fund (DISF) as part of the Government’s initiative to assist the local companies to embark into the global supply chain.

Under this similar programme, MIDA and PERODUA have identified five (5) new vendors that has shown much potential and growth opportunities. These includes Armstrong Auto Parts Sdn. Bhd., Ingress Aoi Technologies Sdn. Bhd., Namicoh Suria Sdn. Bhd., P.D. Kawamura Kako Manufacturing Sdn. Bhd. and Kumpulan Jebco (M) Sdn. Bhd.

MIDA, being the pivotal principal promotional agency of Malaysia, will be extending their support services to help more companies obtain growth in terms of productivity, talent and bridging financial and technology gaps. The agency is confident that through such facilities and empowerment measures, these automotive players will be able to increase their business offerings and expertise to innovate its products and services and climb the supply chain ecosystems.

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About MIDA
MIDA is the government’s principal investment promotion and development agency under the Ministry of International Trade and Industry (MITI) to oversee and drive investments into the manufacturing and services sectors in Malaysia. Headquartered in Kuala Lumpur Sentral, MIDA has 12 regional and 20 overseas offices. MIDA continues to be the strategic partner to businesses in seizing the opportunities arising from the technology revolution of this era. For more information, please visit www.mida.gov.my and follow us on Twitter, Instagram, Facebook, LinkedIn, TikTok and YouTube channel.

About PERODUA
Established in 1993, Perodua is Malaysia’s Leading compact car maker. The company designs car for local lifestyles and builds them to meet industry-leading quality standards. To learn more about the Perodua driving experience, please visit www.perodua.com.my.

Media contacts:

MIDA
Mr. Sukri Abu Bakar
Director, Domestic Investment Division, MIDA
Email: [email protected] | DL: + 603- 2267 3685

PERODUA
Mr. Ahmad Tamimi Omar
Manager,
Strategic Communications Department
Corporate Relations & Communications Division, Perodua
Email : [email protected] | +6019-262 0658

MIDA and PERODUA Geared Up Through Strategic Partnership in Enhancing Local Auto Suppliers to Embrace Digitalisation

Founded by local games industry pioneers, Virtuos Kuala Lumpur supports the growth of Malaysia as a regional game development hub through talent training and jobs creation

Singapore, 12 August 2022 – Virtuos, a leading global video game development company, today announced the official launch of its studio in Kuala Lumpur, Malaysia. Virtuos Kuala Lumpur delivers full game development, engineering, and art production services to some of the world’s biggest game developers and publishers. It is part of Virtuos’ global network of studios, which has contributed to iconic games including Assassin’s Creed, Call of Duty, Demon’s Souls, Final Fantasy, Horizon Forbidden West, and Medal of Honor: Above and Beyond for Meta Quest 2.

Helmed by Mufizal Mokhtar as General Manager, Virtuos Kuala Lumpur was founded by a team that includes veteran AAA game developers with over 20 years of experience each, and who have returned home to launch the studio. The team comprises Boon Yan Toh as Studio Operations Director, Ian Ng Siong Yoong as Studio Production Director, Noorazhar Mohd Noor as Senior Lead Artist, and Johaness Reuben as Technical Art Director. Since the studio’s soft launch in early 2021, its team has grown to 90 employees.

“I am pleased to return home to build Virtuos Kuala Lumpur alongside some of my closest friends and pioneers in the industry,” said Mufizal. “We are excited to play an active part in Malaysia’s game development industry and the growth of its digital ecosystem. Thanks to the support of the Malaysian Government and our global Virtuos network, we look forward to welcoming the best talent to our multicultural team and making games better, together.”

At the forefront of Malaysia’s growing games industry

The launch of Virtuos Kuala Lumpur will be a significant addition to Malaysia’s fast-developing video games sector. In collaboration with the Malaysian government, Virtuos will focus on further expansion and the training of new talent. 

Datuk Arham Abdul Rahman, CEO of MIDA, said, “The exponential growth of the global gaming industry has been remarkable as this industry presents many opportunities and a huge potential for growth. The establishment of a Virtuos studio in Malaysia is in line with our efforts to attract creative quality investments, which contribute to a rich and diverse digital media sector and create high-value job opportunities, allowing many young talent to pursue their passion for gaming by making a global impact with fun, creative and original IP conceptualized and developed in Malaysia”.

He added, “With the global gaming revenue projected to reach USD219.90 billion in 2022, continuous technological advancements in the gaming industry are significantly leveling up the way games are created and improving the overall gaming experience for the users. MIDA will continue to play an active role in promoting the gaming industry which will contribute to a sustainable digital ecosystem and position Malaysia atop the list of digital nations. We want to assure companies such as Virtuos that Malaysia can be your home, and we stand ready to support the growth of this industry.” 

Mahadhir Aziz, CEO of MDEC, said, “MDEC would like to congratulate Virtuos on their expansion to Malaysia. As a globally-renowned video game development company, their presence is evidence of the nation’s vibrant creative digital content ecosystem, and further proof of our role as the regional hub of choice. Virtuos’ commitment towards developing digital talent and creating high-value job opportunities is aligned to the goals of Malaysia Digital. MDEC is looking forward to collaborating closely with Virtuos in supporting their future endeavours”.

Gilles Langourieux, CEO of Virtuos, said, “With the launch of Virtuos Kuala Lumpur, we are excited to contribute to Malaysia’s digitalization and growth as a regional game development hub. We have ambitions to grow our local headcount to 300 by the end of 2025, and become one of Malaysia’s top studios that deliver full-cycle game development expertise and quality projects for our partners worldwide.”

Strategically located between Virtuos’ Singapore headquarters and its largest Asian studios in China and Vietnam, Kuala Lumpur is a natural expansion for Virtuos worldwide. The expansion also builds upon Virtuos’ launches in Lyon and Montreal, as well as its acquisitions of Glass Egg in Ho Chi Minh City and Volmi in Ukraine this year.

ENDS

About Virtuos
Founded in 2004, Virtuos is a leading global video game development company headquartered in Singapore with studios across Asia, Europe, and North America. With over 3,000 full-time professionals, Virtuos specializes in game development and art production for AAA consoles, PC, and mobile titles, enabling its partners to generate additional revenues and achieve greater operational efficiency.

For over a decade, Virtuos has successfully delivered high-quality content for more than 2,000 projects and its clients include 18 of the top 20 digital entertainment companies worldwide. More information at www.virtuosgames.com.

Virtuos Kuala Lumpur is actively hiring and welcoming applicants interested in embarking on this next phase of growth with the studio. For more information, please see open positions here or contact [email protected].

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About Malaysian Investment Development Authority (MIDA)
MIDA is the government’s principal investment promotion and development agency under the Ministry of International Trade and Industry (MITI) to oversee and drive investments into the manufacturing and services sectors in Malaysia. Headquartered in Kuala Lumpur Sentral, MIDA has 12 regional and 20 overseas offices. MIDA continues to be the strategic partner to businesses in seizing the opportunities arising from the technology revolution of this era. For more information, please visit www.mida.gov.my and follow us on Twitter, Instagram, Facebook, LinkedIn and YouTube channel.

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About Malaysia Digital Economy Corporation (MDEC)
Malaysia Digital Economy Corporation (MDEC) is a government agency under the purview of the Ministry of Communications and Multimedia Malaysia entrusted to lead Malaysia’s digital economy forward. Incorporated in 1996 to oversee the development of the MSC Malaysia initiative, MDEC’s primary mandate today is to accelerate the growth of digitally-skilled Malaysians, digitally-powered businesses and digital investments in Malaysia. MDEC is focused on creating inclusive, high-quality growth through the nationwide digitalisation initiatives that are in line with the Government’s Shared Prosperity Vision 2030 and firmly establishing Malaysia as the Heart of Digital ASEAN.

#MYMDEC #HeartofDigitalASEAN #SayaDigital

To find out more about MDEC’s initiatives, please visit www.mdec.my or follow: 

Facebook: https://www.facebook.com/MyMDEC/

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For media enquiries, please contact: 

Media contact for Virtuos
Zuhaili Marican
[email protected]
+65 8468 7182

Media contact for MIDA
Ms. Rosedalina Binti Ramlan
Director, Business Services and Regional Operations, MIDA
[email protected]
+603-2267 3515

Media contacts for MDEC
Hazel Hassan
[email protected]

Virtuos Bolsters Southeast Asian Presence With Launch Of Game Development Studio In Kuala Lumpur 

The work begins on a new facility aimed at expanding the Company’s position as a global leader in the manufacturing and assembly of cutting-edge materials in the semiconductor manufacturing equipment field.

Kedah, 9 August, 2022 — Ferrotec Holdings Corporation, a global supplier of materials, components, and precision system solutions, today announced the groundbreaking ceremony to begin construction of its new manufacturing facility at Kulim Hi-Tech Park, Kedah, facilitated by the Malaysian Investment Development Authority (MIDA). The plant which will be undertaking electromechanical assembly and advanced material fabrication for semiconductor equipment is designed to meet customer needs while also expanding the Group’s business globally.

The ceremony was attended by YB Dato’ Wira Dr. Ku Abd Rahman bin Ku Ismail, Senior State Exco of Industrial and Investment, Science, Technology and Innovation and Higher Education; Ms. Lim Bee Vian, Deputy Chief Executive Officer (Investment Development) of MIDA; YBrs. Mr. Noor Ikhsan Bin Abdul Aziz, Chief Operating Officer of Invest Kedah; Dr. Haji Nadzman Bin Mustaffa, President of Kulim Municipal Council (MPKK); YBhg. Dato’ Mohd Sahil Zabidi, Group CEO of Kulim Technology Park Corporation Sdn. Bhd.; Mr. Eiji Miyanaga, Chief Executive Officer of Ferrotec Manufacturing Malaysia Sdn. Bhd., and Mr. He Xian Han, Group Chief Executive Officer of Ferrotec Holdings Corporation, as well as other distinguished guests.

“Today’s event is a testament of Ferrotec’s reputation as a global leader in the manufacturing and assembly industry for the past 42 years. This project does not only demonstrate Ferrotec’s confidence in Malaysia’s long-term investment propositions, but also the thriving state of the manufacturing industry in Malaysia. We aim to distinguish ourselves from our competitors based on these intangible factors – competitive business environment and cost advantages, well-developed infrastructure and the availability of technical and management talents.” said Ms. Lim Bee Vian, Deputy CEO (Investment Development) of MIDA.

Ms. Lim also emphasized that despite facing competition from the low-cost production countries, Malaysian machinery and equipment (M&E) companies continue to thrive in producing high value-added products and integrated services, supporting the needs of the MNCs’ in their effort to serve their customers better. MIDA aims to facilitate such companies by facilitating continuous investment opportunities to expand their operation capabilities to improve output quality and volume.

“Ferrotec has seen increasing demand for our products and services in Asia. With the start of construction on this new production facility in Malaysia, Ferrotec is committed to continue driving its effort to fulfill the increasing capacity demands and improved business continuity that are vital to our customers success,” said Eiji Miyanaga, Chief Executive Officer of Ferrotec Manufacturing Malaysia Sdn. Bhd..

To continue transforming the industry, the Malaysian Government encourages investors to invest in state-of-the-art technologies that can support advanced manufacturing processes across supply chains.

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About MIDA

MIDA is the government’s principal investment promotion and development agency under the Ministry of International Trade and Industry (MITI) to oversee and drive investments into the manufacturing and services sectors in Malaysia. Headquartered in Kuala Lumpur Sentral, MIDA has 12 regional and 20 overseas offices. MIDA continues to be the strategic partner to businesses in seizing the opportunities arising from the technology revolution of this era. For more information, please visit www.mida.gov.my and follow us on Twitter, Instagram, Facebook, LinkedIn and YouTube.

About Ferrotec

Founded in 1980, on a technology core of Ferrofluid magnetic liquid and Ferrofluidic® sealing products, Ferrotec Holdings Corporation (6890 TSE Standard) is a worldwide leader in the supply of materials, components, and precision system solutions for industrial businesses. Ferrotec is a diversified world-class industrial organization with a global presence in a broad array of technology driven end markets (semiconductors, automotive, biomedical applications, smart phones, LEDs and FPDs). More information about Ferrotec’s products can be found at www.ferrotec.com

For more information, please contact:

Ms. Zakiah Sajidan
Director, Machinery & Metal Technology Division, MIDA
E: [email protected]
T: +603-2267 3628

Mr. Tom McKee
Marketing Communications Manager
E: [email protected]
T: +1 (408)-964-7700

Ferrotec Holds Groundbreaking Ceremony for Its New Factory In Kedah, Malaysia

Kuala Lumpur, 8 August 2022 – OCIKUMHO, Malaysian subsidiary of South Korean poly-si producer OCI Company Ltd. and South Korea-based Kumho P&B Chemical Inc has made an announcement on their partnership to manufacture Epichlorohydrin (ECH) at Samalaju Industrial Park, Sarawak. The production that has a capacity to produce up to 100 KTPA, announced that the construction of the facility will commence in the first quarter of 2023, with test operation to start in the first quarter of the following year.

Datuk Arham Abdul Rahman, Chief Executive Officer of MIDA said “Malaysia’s chemical industry presents many possibilities for growth and development. Companies are welcomed to partner and leverage Malaysia to move up the value chain and seize new opportunities. Malaysia is fortunate to host global companies like OCIKUMHO and facilitate their journey to explore opportunities across our economic sectors. This will benefit the nation with many new business opportunities for chemical companies where it will support and strengthen the industry ecosystem in Malaysia due to ECH availability.

We are committed to positioning this industry well for the future, targeting more strategic companies and high-technology companies. MIDA sees this project, with a potential investment of more than RM760 million, as a catalyst not just in creating new job opportunities for many Malaysians, but also for the development of the country’s clean energy industry.”

The manufacturing of ECH in Malaysia will strengthen the value chain of epoxy manufacturers both in South Korea and Malaysia. ECH is a compound mainly used to produce epoxy resins. Its main applications serve the clean energy market, such as wind, solar, tidal and electricity transmission, providing corrosion protection coatings. It is also used in the industrial, automotive and packaging industries and as composites in the aerospace industry.

Moreover, with the presence of OCIKUMHO in Malaysia, it will contribute to the Malaysian export market where OCIKUMHO will be exporting 95 per cent of its product from Malaysia to various countries around the world. Using bio-based raw materials (glycerine) and tapping into electricity from a hydropower plant in Sarawak, OCIKUMHO’s plant will be the first to manufacture ECH in Malaysia. This project is anticipated to create 40 per cent job opportunities in the managerial, technical and supervisory roles.

Under the Twelfth Malaysia Plan (12MP), the chemical industry has been identified as one of the high potential growth industries due to its strong linkages to other manufacturing subsectors as well as capabilities and potential to deliver more complex and higher value-added products, as aspired by the National Investment Aspirations (NIA). The manufacturing of ECH is expected to greatly contribute towards Malaysia’s aspiration especially in enhancing industry integration and increasing the
competitiveness of the chemical industry in Malaysia.

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About MIDA

MIDA is the Government’s principal promotion agency under the Ministry of International Trade and Industry (MITI) to oversee and drive investments into the manufacturing and services sectors in Malaysia. Starting operations in 1967 with a relatively small set up of 37 staff, MIDA has grown to become an active and dynamic organisation of over 700 employees. Headquartered in Kuala Lumpur Sentral, MIDA today has 12 regional and 20 overseas offices. MIDA continues to be the strategic partner to businesses in seizing the opportunities arising from the technology revolution of this era. For more information, please visit www.mida.gov.my and follow us on Twitter, Instagram and Facebook.

About OCI Company Ltd.

OCI Company Ltd. is a Korean chemical producer based in Seoul. The company is a leading producer of polysilicon, a starting material for solar PV. With its growing materials horizons, the company has recently shifted its focus towards its two core capabilities: electronic materials and green chemicals. It is accelerating its efforts towards ESG management and becoming an eco-friendly materials business entity. The company’s subsidiary in Sarawak, OCIM Sdn. Bhd. owns a facility that produces 30,000 MT of polysilicon annually for the global market. The company finds the ECH joint venture between OCIM and Kumho P&B is crucial in achieving its long term ESG goals.

About Kumho P&B Chemicals., Inc

Kumho P&B Chemicals., Inc (KPB) a member of Kumho Petrochemical Group, specialises in the manufacturing and distribution of phenols, acetones, Bisphenol A (BPA), and epoxy resins, which serve diverse industrial uses such as electric and electronics, pharmaceuticals, and paints. Maintaining strong ties with leading chemical producers worldwide, KPB has adopted advanced technologies and is continuously striving to expand its global network of product production and distribution.

For more information, please contact:

MIDA
Ms. Siti Halimaton Mohd Rejab
Director, Chemical and Advanced Material Division
Email: [email protected] | Tel.: +603 2267 6701

OCIKUMHO SDN. BHD.
Name: Mr. Jeong Seong Wook
Email : [email protected] | Tel.: +60-82-422-705

OCIM and Kumho P&B Venture to Produce Epichlorohydrin (ECH) In Sarawak, The First ECH Project in Malaysia

Kuala Lumpur, 2 August 2022 – The Malaysian Investment Development Authority (MIDA) today hosted an expert panel session to deliberate on Malaysia’s Environmental, Social and Governance (ESG) Agenda in line with the National Investment Aspirations (NIA). Bearing the theme ’Riding the ESG Wave’, the panel discussion highlighted the ESG adoption from global and ASEAN perspectives, the imperatives of bridging the gap in Malaysia towards the nation’s sustainable development, and facilitation measures to drive sustainable investments.

The interactive session was moderated by Mr. Patrick Tay, Partner, Economics and Policy, PwC Malaysia, and joined by panellist namely; Ms. Masni Muhammad, Executive Director, Investment Policy Advocacy (Manufacturing) of MIDA, Ms. Shanta Helena Dwarkasing, Director of Programs, United Nations Global Compact Network Malaysia and Brunei; and Mr. William Chua, Corporate Manager, Ramatex Textiles Industrial Sdn. Bhd. 

The global trends for ESG and commitments made as a nation trickles down to every sector in the country including investment facilitation. As global players move towards building a sustainable and compliant business environment, MIDA in aligning its strategies with the National Investment Aspirations (NIA), is looking to attract high-value, sustainable investment projects, be it new or expansion of existing investors in Malaysia.

Datuk Arham Abdul Rahman, Chief Executive Officer of MIDA, in delivering his welcoming remarks emphasised the importance of driving ESG and ensuring high standard of ESG practices in the investment journey. “Companies are encouraged to embrace ESG elements because they are an increasingly important factor in determining company valuation, investors’ and consumers’ confidence. The National Investment Aspirations (NIA), which guides MIDA’s investment strategies and initiatives, was developed to align with ESG principles and Sustainable Development Goals (SDG). Companies are encouraged to invest in harnessing renewable energy (RE) sources, including solar, biomass, biogas, and mini-hydro, to use energy efficiency (EE) equipment and qualifying green services.”

Commenting on ESG from a global perspective, Ms. Shanta Helena Dwarkasing, Director, Programms, United Nations Global Compact Network Malaysia and Brunei said, “Sustainability is imperative to a country that wants to be globally competitive and attractive. Many European and ASEAN countries showed their commitment to climate pledges with proactive measures, as ESG will be a value add that investors are looking for. Hence, we can expect Malaysia, especially with more companies such as SMEs embracing ESG standards while making its journey.”

The panel session was designed to ensure the conversations on ESG evolve locally to match the changes taking place globally, following the COP26 held in Europe in 2021. Malaysia as a member of the COP26 delivered on its mandates during its participation and in line with global sentiments. It is crucial to create awareness about ESG while engaging with companies to take the necessary measures towards adopting ESG practices. Companies need to place great emphasis on ESG practices in order to remain relevant in the industry. 

Ms. Masni Muhammad, Executive Director, Investment Policy Advocacy (Manufacturing) of MIDA, further reiterated, “Organisations are expected to have business strategies that are compatible and be able to contribute to sustainable development goals (SDG). Programmes, initiatives and legislations on human rights and environmental protection globally such as Withhold Release Orders (WRO) by the United States Customs Border Protection, and Carbon Border Adjustment Mechanism by the European Union will have a direct impact on Malaysian companies exporting to these markets. Hence, businesses must begin evaluating their operations and the value chain to ensure compliance with ESG principles.”

During the session, Mr. William Chua, Corporate Manager, Ramatex Textiles Industrial Sdn. Bhd., a textile manufacturer based in Batu Pahat, Johor that produces garments and textile for international brands shared their ESG journey and how it has benefited the company.

He commented, “We embarked on the ESG journey way back in 2011, and we are extremely pleased with our decision. Over the years, we have invested a total of RM350 million by adopting the relevant technologies to practice ESG for sustainability. We have re-engineered our efforts to be energy efficient and are experiencing great savings while contributing to the reduction of carbon emission footprint. Ramatex is committed to ESG obligations and will continue to invest in ESG practices in order to meet global supply chain demand.”

MIDA will continue to facilitate purpose-driven companies in building sustainable supply chains, taking actionable initiatives for net zero commitments, empowering talent management, and ESG reporting to the mainstream. While commitment and roadmaps have been drawn through the likes of the Twelfth Malaysia Plan, Budget 2022, IR 4.0 efforts, and Green Technology efforts, MIDA will pursue its engagement with existing investors, both local and foreign to encourage them to adopt and implement ESG practices.

From January to March 2022, the government, through MIDA, has successfully approved 212 green technology projects and services activities amounting to RM433 million. Companies are encouraged to continue embarking the green investments in the country by exploring the sustainable investment opportunities in the green technology areas i.e. renewable energy (RE) sources which includes solar, biomass, biogas, mini-hydro, and other green technology qualifying activities such as energy efficiency (EE), green building, green data centre and integrated waste management.

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About MIDA
MIDA is the Government’s principal investment promotion and development agency under the Ministry of International Trade and Industry (MITI) to oversee and drive investments into Malaysia’s manufacturing and services sectors. Headquartered in Kuala Lumpur Sentral, MIDA has 12 regional and 20 overseas offices. MIDA continues to be the strategic partner to businesses in seizing the opportunities arising from the technology revolution of this era. For more information, please visit www.mida.gov.my and follow us on Twitter, Instagram, Facebook, LinkedIn and YouTube channels.

Media Enquiries:
Ms. Fatmah Ahmad
Director, Corporate Communications Division, MIDA
Email:[email protected] | T: +603 2267 2428

Driving Sustainable Investments to Accelerate Socio Economic Transformation

Penang, Malaysia – August 1, 2022 – Jabil, a global manufacturing solutions provider, recently hosted an “Automation and Digitalisation Workshop” in Penang designed to strengthen its automation capabilities for greater operational and resource efficiencies.

The event, held at its Batu Kawan facility, showcased the benefits of automation and machine self-optimisation in augmenting human labour, thus driving manufacturing productivity. It was organised in partnership with leading equipment providers and supported by the Malaysian Investment Development Authority (MIDA).

This first-of-its-kind, two-day scenario-based workshop saw Jabil Penang project leaders submit automation and digitalisation proposals which were then put through simulations and demonstrations by equipment partners and subject matter experts. Raising awareness and building a greater appreciation of the advancements in Industry 4.0 (IR4), the application-based approach enabled interactive knowledge exchange sessions that produced action plans for potential future developments.

Datuk Arham Abdul Rahman, Chief Executive Officer of MIDA applauded Jabil Penang’s efforts and contribution to accelerating automation and digitalisation initiatives through its partnership with local vendors in Malaysia.

“Following Jabil’s lead, I hope to see more collaborations, within and across industries, to fully harness the potential of technology in optimising their operations. The digital economy is expected to contribute 22.6 per cent of Malaysia’s gross domestic product (GDP) and create over 500,000 jobs by 2025. Through innovations and contributions in the areas of IR4.0 technologies like artificial intelligence, robotics, virtual reality, the Internet of Things, and big data analytics, the manufacturing sector plays an empowering role in building a digitally driven, high-income nation and a regional leader in the digital economy,” said Datuk Arham.

Future-ready workforce is critical to building connected factories of the future

“Jabil Penang’s digital transformation journey began in May 2019. While automation and digitalisation enable Jabil to unlock new potential in the areas of operational excellence, people or human labour continues to be a critical element in our ability to deliver the most progressive factories. With proper upskilling, development, and training programs, our trained and certified automation engineers and technicians will continue to give us the edge in technical competencies, so we may deliver differentiated customer, supplier, and employee experiences,” said Tan Siew Jin, Managing Director, Jabil Penang.

Automation and digitalisation to offer multiplier-effect in operational excellence

The pandemic has created a community of engineering and operations leaders who are now armed with a greater understanding of modern enterprise solutions, collaboration tools, and cloud-based capabilities.

“We have seen the strengthened ability to enhance production systems and the manufacturing value chain since furthering our adoption of automation and digitalization. With a predictable operating environment where skilled talents work safely alongside machines that can learn, think, and act, I am heartened that our initiatives across manufacturing, industrial and test engineering are in line with MIDA’s push towards high-end manufacturing and services. Additionally, Jabil looks to continue playing a visible role in collaborating via public-private and academia partnerships, creating employment opportunities for Malaysians, and actively leveraging technology transfer opportunities across our global operations,” concludes Tan.

Attended by over 500 employees, the workshop focused on common process automation and digitalisation in the areas of soldering, screw fastening, transitional manual assembly, dispensing, and pick-and-place, following the recent implementation of an AutoStore solution last year.

The workshop is part of a series of curated, specialised programmes that empower the existing workforce to upskill and reskill to meet evolving market demands and establish digitally-led creative approaches to address common operational issues on the shop floor. Other initiatives include the “D2L Test Engineering” programme which trains and upskill production operators to move into technician roles.

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About Jabil

Jabil (NYSE: JBL) is a manufacturing solutions provider with over 260,000 employees across 100 locations in 30 countries. The world’s leading brands rely on Jabil’s unmatched breadth and depth of end-market experience, technical and design capabilities, manufacturing know-how, supply chain insights, and global product management expertise. Driven by a common purpose, Jabil and its people are committed to positively impacting their local community and the environment. Visit www.jabil.com to learn more.

About MIDA

MIDA is the government’s principal investment promotion and development agency under the Ministry of International Trade and Industry (MITI) to oversee and drive investments into Malaysia’s manufacturing and services sectors. Headquartered in Kuala Lumpur Sentral, MIDA has 12 regional and 20 overseas offices. MIDA continues to be the strategic partner to businesses in seizing the opportunities arising from the technology revolution of this era. For more information, please visit www.mida.gov.my  and follow us on Twitter, Instagram, Facebook, LinkedIn, TikTok, and YouTube channels.

Media contacts:

Jabil
Ms. Suchithra Krishnan
Email: [email protected]

MIDA
Ms. Rosedalina Ramlan
Director, Business Services and Regional Operations Division, MIDA
Email: [email protected] | DL: + 603- 2267 3515

Jabil Penang Expands Automation and Digitalisation Capabilities Through a First-Of-Its-Kind Workshop

Kuala Lumpur, 18 August 2021 – The Malaysian Investment Development Authority (MIDA) and HSBC Malaysia yesterday renewed its Memorandum of Understanding (MOU), reaffirming the strong partnership between both organisations to attract more global investments into Malaysia and to further facilitate the establishment and expansion of multinational corporations in the country.

The MOU focuses on revitalising and reforming Malaysia’s economy during and post-COVID-19 by maximising potential FDI opportunities into Malaysia, particularly in the manufacturing sector, namely the electrical and electronics, chemical, machinery and equipment, aerospace and medical devices industries. Despite the pandemic, these industries continue to play a critical role in propelling Malaysia towards strategic diversification to increase competitiveness, by focusing on complex, knowledge-intensive and high-end products and services.

Mr. Arham Abdul Rahman, Chief Executive Officer (CEO) of MIDA remarked: “This MOU echoes our National Investment Aspirations (NIA) framework to entice more higher quality investments, particularly in the areas of technology and innovation. Malaysia is, and will continue to be, a strategic business partner to businesses within ASEAN and beyond.  We boast of a robust pool of talent and a well-diversified economy resting on the back of strong economic fundamentals. Moreover, Malaysia’s established local supply chain that is well-integrated into the global value chain, supported by a strong and matured local engineering support industry, are an undeniable pull factors for investors seeking to expand their production capacity efficiently and with ease.”

“This renewal of partnership with HSBC Malaysia signals MIDA’s prevailing commitment to better assist our investors and provide a stronger support as we weather the current pandemic wave. HSBC’s vast expertise in cross-border trade and investment will continue to be an invaluable addition to MIDA’s stakeholders to make well-informed investment decisions while conducting their businesses across various markets. This will ultimately enable a continuous sustainable stream of quality investment activities in the country,” Mr. Arham shared.  

Mr. Stuart Milne, CEO of HSBC Malaysia said: “For more than 130 years, HSBC has played a pivotal role in Malaysia’s growth and development. Our history in Malaysia goes back to the very start of banking in this region. Then, as now, our role has been to foster the development of trade and investment between Malaysia and the wider world. As such, we value this significant partnership between HSBC and MIDA. Both organisations first stamped our long term partnership in 2016 showcasing the trust that MIDA places in HSBC as among the leading international banks in Malaysia.”

“As the impact of the pandemic continues to be felt across the globe and as businesses look to recover from the universal economic slowdown, we continue to remain committed to the nation’s agenda to make Malaysia a preferred destination for investment in Asia. With our international footprint, and access to key markets globally, we are eager to collaborate with MIDA on nation-building programmes to capture growth opportunities. We look forward to our enhanced partnership and exemplary collaborative accomplishments connecting global investors to MIDA,” added Mr. Milne. 

This strategic public-private partnership will leverage on MIDA’s marketing and trade exchange initiatives, such as trade and investment missions, while capitalising on HSBC’s global presence with access to more than 90 per cent of global GDP through trade and capital flows as well as connectivity to global corporate customers in more than 60 countries.

With these combined capabilities, HSBC and MIDA will be holding virtual roadshows, joint seminars, conferences and round-table discussions. In 2020, several virtual investment roundtable meetings in key markets such as Netherlands, Germany, China, ASEAN and Europe took place to explore and assist companies in these countries to invest in Malaysia.

HSBC will work with MIDA to provide banking and finance services including FDI Advisory to companies venturing into Malaysia. In addition, HSBC is keen to connect with MIDA’s local and oversea offices, to be among the ecosystem partners in active markets such as Netherlands, Germany, China, ASEAN, Japan, USA and UK in disseminating information on FDI opportunities into Malaysia.

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About MIDA

MIDA is the Government’s principal investment promotion and development agency under the Ministry of International Trade and Industry (MITI) to oversee and drive investments into the manufacturing and services sectors in Malaysia. Headquartered in Kuala Lumpur Sentral, MIDA has 12 regional and 20 overseas offices. MIDA continues to be the strategic partner to businesses in seizing the opportunities arising from the technology revolution of this era. For more information, please visit www.mida.gov.my and follow us on Twitter, Instagram, Facebook, LinkedIn and YouTube channel.

About HSBC Malaysia

HSBC’s presence in Malaysia dates back to 1884 when the Hongkong and Shanghai Banking Corporation Limited established its first office in the country on the island of Penang, with the permission to issue currency notes. HSBC Bank Malaysia Berhad was locally incorporated in 1984 and is a wholly-owned subsidiary of The Hongkong and Shanghai Banking Corporation Limited, founding member of the HSBC Group. In 2007, HSBC Bank Malaysia was the first foreign bank to be awarded an Islamic banking subsidiary licence in Malaysia, namely HSBC Amanah Malaysia Berhad. HSBC Malaysia offers a comprehensive range of banking and financial services including Islamic financial solutions. HSBC Malaysia has also led innovation in Malaysia by introducing Malaysia’s first ATM and Electronic Touch Banking in the early 1980s. Today, HSBC Malaysia has launched innovative solutions such as HSBCnet for secure banking for businesses, Trade Transaction Tracker and Facial Recognition on supported mobile phones.

For media enquiries please contact:

Manjit Kaur (Ms.)

Email: [email protected] | DL: +603-2267 3509

Joanne Wong (Ms.)

Email: [email protected] | DL: +603 2075 6169         

MIDA And HSBC Malaysia Renew Partnership To Attract More Global Investments Into Malaysia