• In 2023, Malaysia attracted RM329.5 billion of approved investments in services (RM168.4 billion), manufacturing (RM152.0 billion), and primary (RM9.1 billion) sectors. This is a 23.0% increase as compared to RM267.7 billion approved investments last year.
• Foreign Investments (FI) accounted for a substantial 57.2% or RM188.4 billion of the total approved investments, while Domestic Investments (DI) contributed 42.8% or RM141.1 billion.
• The services sector emerged as the clear frontrunner, commanding a significant share of RM168.4 billion or 51.1% of the total approved investments. This is a 7.2% increase as compared to RM157.1 billion approved investments last year.
• The manufacturing sector, spearheading with RM152.0 billion or 46.1% of the total approved investments, witnessed an impressive growth of 80.3%, a substantial leap from the RM84.3 billion approved investments recorded last year.
• Top five (5) sources of FI¹ was led by Singapore (RM43.7 billion), The Netherlands (RM35.5 billion), The United States of America (USA) (RM21.5 billion), Cayman Islands (RM17.5 billion) and The People’s Republic of China (PRC) (RM14.5 billion).
• Five (5) states that have recorded highest approved investments include Pulau Pinang (RM71.9 billion), Wilayah Persekutuan Kuala Lumpur (RM58.3 billion), Selangor (RM55.3 billion), Johor (RM43.1 billion) and Kedah (RM28.7 billion).
• With an impressive number of 5,101 projects approved, a 12.9% increase as compared to 2022, these approved projects will generate 127,332 new jobs in the country.

Kuala Lumpur, 29 February 2024 – Amidst a backdrop of anticipated global economic challenges in 2023, including persistently high core inflation², Malaysia’s economy defied expectations with a significant surge. Achieving RM329.5 billion in approved investments across the manufacturing, services, and primary sectors, the nation’s economy not only thrived but showcased the effectiveness of its pro-business and growth-oriented policies. This remarkable performance, marked by a 23.0% increase over last year’s approved investments, reaffirms Malaysia’s position as a globally attractive investment destination.

The synergy of Foreign Investment (FI) and Domestic Investment (DI) reaching new heights exemplifies investor confidence and Malaysia’s resilience amidst a global economic landscape that, against the odds, presented pleasantly surprising outcomes. This achievement is indeed a testament to Malaysia’s strategic
maneuvering through potential economic hiccups, marking a year that, despite its challenges, started on a noteworthy of celebration.

YB Tengku Zafrul said, “These stellar results of RM329.5 billion in approved investments show that as a country with strong policies that support growth and investment prospects, Malaysia offers a huge potential for attractive returns alongside the nation’s clear vision to become a developed and inclusive economy. MITI and MIDA will continue to remain steadfast in our commitment to fostering an environment conducive to high-quality investments aimed at creating opportunities for our SMEs
and high-paying jobs for our rakyat.”

Of the remarkable RM329.5 billion in approved investments for 2023, 5,101 projects stand ready to generate 127,332 job opportunities for Malaysians, bolstering both economic growth and employment. The distribution of investments showcases a significant leaning towards FI, which represents 57.2% of the total, amounting to RM188.4 billion. DI contributed a substantial 42.8%, or RM141.1 billion, reflecting a
balanced and robust investment landscape.

The investment influx was predominantly led by five countries, with Singapore (RM43.7 billion), The Netherlands (RM35.5 billion), the United States of America (USA) (RM21.5 billion), Cayman Islands (RM17.5 billion), and the People’s Republic of China (PRC) (RM14.5 billion) together accounting for 70.4% of total FI, or RM132.7 billion. This diversification in foreign investment sources underscores Malaysia’s
global appeal and the confidence of international investors in its robust investment landscape.

Regionally, Pulau Pinang emerged as the leading beneficiary with approved investments totalling RM71.9 billion, followed closely by Wilayah Persekutuan Kuala Lumpur (RM58.3 billion), Selangor (RM55.3 billion), Johor (RM43.1 billion), and Kedah (RM28.7 billion). These five states collectively attracted RM257.3 billion, representing 78.1% of the overall approved investments in 2023. This geographic distribution of
investments not only highlights the strategic importance and economic vitality of these regions but also signifies the nationwide spread of economic development opportunities facilitated by these investments.

The Services Sector at the Forefront of Malaysia’s Investment Boom

The prominence of Malaysia’s services sector has grown steadily over time. This sector led the way in terms of approved investments, accounting for RM168.4 billion or 51.1% of the total approvals. Anticipated to generate 52,732 job opportunities from 4,143 approved projects, this reflects the sector’s attractiveness for investments.

A significant portion of the services sector’s investment comes from domestic sources, amounting to RM110.5 billion or 65.6%, with foreign investment contributing the remaining 34.4% or RM57.9 billion. This balanced mix underscores the sector’s appeal to both local and international investors.

The Information and Communications sub-sector stands out with RM63.7 billion in approved investments, leading the charge in the services sector’s growth. Other key contributors include real estate (RM61.0 billion), utilities (RM11.1 billion), distributive trade (RM11.1 billion), and support services (RM10.5 billion), each playing a vital role in the sector’s dynamism and diversity.

The year 2023 continues to showcase the attractiveness of Malaysia’s digital infrastructure investment landscape. GDS, a prominent data centre developer and operator in Asia, is establishing a hyperscale data centre campus in Johor, Malaysia, with the goal of transforming it into an AI innovation hub. This development highlights Malaysia’s rising significance in the digital economy, underscoring its strategic role as a gateway for technological advancements in Southeast Asia.

Other notable approvals in the services sector include Envico Enterprises Sdn. Bhd., aiming to become a central hub for retail expansion, and Worldwide Holdings Bhd.’s commitment to sustainable solid waste management in Jeram, Selangor, through waste-to-energy technology. These projects reflect Malaysia’s dedication to sustainable development and its position as a hub for innovation and investment in the
services sector.

The surge in investments within the services sector, particularly in digital infrastructure and sustainable projects, underscores Malaysia’s strategic direction towards a resilient and future-ready economy.

Significant Increase in Approved Investments in the Manufacturing Sector

The manufacturing sector in Malaysia attracted a total of RM152.0 billion in approved investments, accounting for 46.1% of the total approved investments across all industries. This marks a significant increase of 80.3% from RM84.3 billion recorded in 2022.

FI was a major force behind this surge, contributing RM128.5 billion or 84.5% of the total manufacturing sector investments, showcasing a striking 94.5% growth from the previous year, while DI, remained substantial at RM23.5 billion or 15.5%. This investment landscape highlights Malaysia’s capacity to attract significant foreign capital, reinforcing its status as a competitive manufacturing hub on the global stage.
The electrical and electronics (E&E) industry, a cornerstone of Malaysia’s manufacturing prowess, secured the lion’s share of investments with RM85.4 billion, representing 56.2% of the sector’s total. This nearly threefold increase from 2022, is a testament to the strategic expansion of global E&E companies in Malaysia, capitalising on the forecasted recovery in the global technology cycle and the projected 11.8% growth in global semiconductor sales by 2024³. This strategic positioning anticipates bolstering exports, especially in E&E products, affirming Malaysia’s role in the global technology supply chain.

Other industries contributing to the manufacturing sector’s growth include machinery and equipment (M&E) (RM22.6 billion), chemicals and chemical products (RM8.9 billion), non-metallic mineral products (RM8.8 billion), transport equipment (RM7.1 billion), and plastic products (RM4.1 billion). These industries collectively underscore the manufacturing sector’s diversification and its capacity for high-value production.

The surge in manufacturing investments is poised to create 73,939 job opportunities, with a significant emphasis on high-impact roles in management, professional/technical, supervisory, and skilled worker categories (MTS) amounting to 30,407 jobs, of which 91.7% are expected to be filled by Malaysians. The E&E, M&E, and non-metallic mineral products sectors are anticipated to offer the highest number of MTS positions, aligning with the Government’s commitment to generating high-quality, high-paying employment for the Rakyat.

A noteworthy aspect of 2023’s investment influx is the remarkable increase in the capital investment per employee (CIPE) value to RM2.1 million, up by 85.6% from 2022, propelled by the adoption of advanced automation technologies. This shift not only enhances companies’ production capabilities but also elevates Malaysia’s competitive edge in producing sophisticated products, laying a resilient foundation for sustained national competitiveness.

Highlighting the manufacturing sector’s evolution are significant projects by multinational corporations venturing into high-impact and high-technology industries, such as:

1. INV New Material Technology (M) Sdn. Bhd. – The upcoming factory in Penang Technology Park will mark the company’s pioneering establishment of a battery separator facility within the ASEAN region. The project’s total investment of RM3.2 billion for its first phase will create 2,032 local job opportunities with 32.6% of it at the managerial, technical and supervisory levels. This project will elevate Malaysia as a regional hub for the EV supply chain, further solidifying the country’s EV industry ecosystem.
   
2. EVE – EVE Energy Co., Ltd. (EVE), a China-based lithium battery production company, through its subsidiary EVE Energy Malaysia Sdn. Bhd. has set to build a cylindrical battery production base in Malaysia, with a substantial investment of RM1.924 billion. This project is set to support the electric two-wheelers and power tools manufacturing enterprises in the country and across Asia. The phased construction of the project, slated to be completed within three (3) years, marks a significant milestone for EVE, enhancing its overall competitiveness in the global market for electric two-wheelers and power tools.
   
3. OCIKUMHO Sdn. Bhd. – a joint venture between OCIM Sdn. Bhd. and South Korea-based Kumho P&B Chemical Inc. is set to produce epichlorohydrin in Sarawak. With a total investment of RM1.1 billion, creating high-value job opportunities with 36.1% in the managerial, technical and supervisory category. The manufacturing of ECH in Malaysia will strengthen the value chain of epoxy manufacturing, contributing towards Malaysia’s aspiration to enhance industrial integration and linkages ultimately increasing the competitiveness of the chemical industry in Malaysia. This project also complements Malaysia’s Chemical Industry Roadmap 2030 (CIR2030) emphasises enhancing industry integration and increasing value-added from building blocks in a sustainable way.
   
4. Benchmark Electronics (M) Sdn. Bhd. – In a strategic move towards further technological excellence in Malaysia, Benchmark has embarked on an ambitious expansion project worth RM802.7 million. The focus lies on high-tech front-end semiconductor machinery and equipment, particularly in areas such as lithography systems and plasma etcher systems. This move aligns with the company’s commitment to staying ahead in the fast-paced world of semiconductor technology.
   
5. Infinecs Systems Sdn. Bhd. – Infinecs is spearheading technological advancements in IC Design and Development services through substantial expansion of investment totalling RM47.15 million. With a workforce of 80 employees in Malaysia, predominantly consisting of 88% Malaysians, the company demonstrates a commitment to empowering the local talent pool. Notably, 70% of employees earn above RM5,000 and within the high-income category, 90% are skilled local workers, showcasing Infinecs’ dedication to providing knowledge-based job opportunities for Malaysian engineers.
   
6. X-Fab Sarawak Sdn. Bhd. – X-FAB’s significant presence for 18 years in  Kuching, Sarawak, Malaysia since its establishment in 2006 has contributed to the economic development and technological advancement of the region. And just last year the company continued to grow its capacity and presence in Sarawak with a significant expansion project offering 280 new job opportunities for our locals. The presence of X-FAB in Sarawak has been a source of pride for the local community, fostering technological growth in the area.
   
7. Sandvik Equipment Sdn. Bhd. – Sandvik Mining and Rock Solutions is a global leading supplier of equipment and tools, parts, service, digital solutions and sustainability-driving technologies. The company has been a pioneering force in mine electrification, leading innovation in electric equipment for more than 40 years. Sandvik Mining and Rock Solutions has chosen Malaysia as one of its global manufacturing facilities to produce battery-electric and conventional underground mining loaders and battery packs for underground mining equipment. This project marks a significant milestone as the first of its kind in Malaysia. In alignment with the country’s commitment to reducing carbon emissions, particularly in the mining and infrastructure sectors, Sandvik provides a sustainable solution to support this initiative.

Primary Sector Reflects Positive Opportunities

The primary sector registered approved investments of RM9.1 billion, constituting 2.8% of the total approvals. Driven by 75 projects, it anticipates creating 661 new jobs, with a focus on mining (RM8.8 billion), and plantation and commodities (RM0.3 billion).

Doubling Efforts for Quality Investments

Malaysia’s investment landscape presents bright prospects with a pipeline of proposed investments and lead projects overseen by MIDA. To date, MIDA’s pipeline boasts 1,710 projects, with proposed investments reaching RM87.8 billion. Of these proposed investments, a total of 1,648 projects are from the selected services sector (RM52.7 billion), while 62 projects are from the manufacturing sector (RM35.1 billion), all of which fall under MIDA’s purview. Additionally, a total amount of RM88.82 billion in high-potential investment leads are actively being negotiated by MIDA.

Realising Approved Manufacturing Projects

In the journey towards elevating Malaysia’s investment landscape, strategic initiatives and policies have paved the way for success. Key initiatives include the establishment of the National Investment Council; the Investment and Trade Coordination Action Committee; and the Invest Malaysia Facilitation Centre. These platforms stand as a testament to the nation’s commitment to fostering a conducive environment for investments.

MITI and MIDA have showcased exemplary dedication in engaging with stakeholders at both federal and state levels, significantly contributing to the facilitation and realisation of approved investment projects. Between 2021 and 2023, the National Committee on Investment has been instrumental in approving 2,386 manufacturing projects. Remarkably, 74.0% of these projects are already in various stages of implementation, ranging from production to factory construction and machinery installations. An additional 24.7% are in the planning phase, focusing on initial steps such as site selection and consultations with developers and consultants, while a minimal 1.0% are pending initiation, and another 0.3% have been abandoned. Annual project implementation performance observations show that more than 85% of approved manufacturing projects in 2021 and 2022 have been implemented. Notably, 50.1% of projects approved in 2023 have also commenced implementation—a positive trend, given that the completion timeline for manufacturing projects typically spans 18 to 24 months, subject to every project’s complexity.

The Chief Executive Officer of the Malaysian Investment Development Authority (MIDA), Datuk Wira Arham Abdul Rahman, expresses immense pride in achieving a significant milestone, stating, “With a record-breaking investment of RM329.5 billion, Malaysia showcases its strong commitment to high-tech, high-value sectors, aligning with our vision for a green, digital, and competitive economy. This remarkable achievement is a clear signal of global confidence in Malaysia as a top-tier investment haven in the region and a tribute to our visionary policies. At MIDA, we are dedicated to supporting our goals under the MADANI Economy Framework, driving quality job creation and economic benefits. Our focus on innovation and sustainability places Malaysia on a path to prosperity and responsible development, making it a global exemplar of progress and environmental stewardship.”

MIDA spearheads the charge towards centralising investment promotion and marketing for Investment Promotion Agencies (IPAs) and Regional Economic Corridors, a strategic move designed to refine and enhance the visibility of Malaysia. With MITI guiding the effort, this initiative promises a more coordinated and effective approach to investment attraction. By eliminating redundancies and boosting the quality of services, MIDA’s leadership is set to foster a streamlined environment. This focus on centralisation, especially within regional IPAs, aims to amplify the implementation rate, paving the way for a more conducive investment climate. This effort underscores Malaysia’s commitment to delivering a seamless and impactful investment journey, reinforcing its appeal as a premier and competitive investment locale.

This transformative journey marks not just a year of overcoming challenges but a leap into a future where Malaysia stands as a testament to resilience, innovation, and economic prosperity on the global stage.

______________________________________________________

¹ Compilation of foreign investments is based on immediate source country
² https://www.bnm.gov.my/-/monetary-policy-statement-02112023
³ https://www.wsts.org/76/103/WSTS-Semiconductor-Market-Forecast

***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.

For media enquiries please contact:

Ms. Fatmah Ahmad
Director of Corporate Communications Division
Malaysian Investment Development Authority (MIDA)
Email: [email protected] | DL: +603-2267 2428

Malaysia Resilient Ascent – Securing Historic RM329.5 Billion in Investments, Generating Close to 130,000 Jobs in 2023

Penang, 28 February 2023 – Greatech Technology Berhad (“Greatech”), through its subsidiary Greatech Integration (M) Sdn. Bhd., a Malaysia-based leading automation solutions provider, organised a groundbreaking ceremony for the construction of a new facility in Penang, Malaysia. The new additional facility, BK IV, with a built-up area of 500,000 square feet, will be constructed across 11.58-acre land in Batu Kawan Industrial Park, Penang. Upon the completion of BK IV, Greatech will have a total combined floor area of more than 1.2 million square feet. Greatech invested approximately RM1.3 billion for this expansion with an estimated capital expenditure of RM200 million and an estimated operating expenditure of RM1.1 billion. The Group strongly believes that this investment will open new horizons in meeting their ever-growing demands.

The ground breaking ceremony was officiated by the Chief Minister of Penang, the Right Honourable Mr. Chow Kon Yeow. Also present at the ceremony were YB Prof. Dr. P. Ramasamy, Deputy Chief Minister II of Penang, YB Mr. Liew Chin Tong, Deputy Minister of International Trade and Industry (MITI), Ms. Lim Bee Vian, Deputy Chief Executive Officer (CEO) (Investment Development) of Malaysian Investment Development Authority (MIDA), Dato’ Loo Lee Lian, CEO of InvestPenang, Dato’ Tan Eng Kee, CEO of Greatech, Tuan Mohamad Haris Kader Sultan, Chief Executive of Northern Corridor Economic Region and Ms. Ooi Hooi Kiang, the Board Chair of Greatech Technology Berhad.

The Right Honourable Mr. Chow Kon Yeow, Chief Minister of Penang applauded Greatech for the reinvestment decisions. “Penang’s homegrown companies held critical roles in promoting the growth of the machinery and equipment (M&E) sector in the state. We are proud of the involvement of local companies, such as Greatech, in creating a comprehensive supply chain for the state in the M&E and automation domains. I am confident that the growing strength of local companies will translate into more opportunities, anchoring our position as the Silicon Valley of the East.”

“I am pleased to also share that investments in the machinery and equipment (M&E) industry alone totalled RM7.3 billion from 2020 to September 2022, accounting for 57 per cent of the country’s total. This has placed us on the right trajectory to becoming a global front-to-backend equipment manufacturing hub,” he added.

Ms. Lim Bee Vian, Deputy CEO (Investment Development) of MIDA commended Greatech for the establishment of an additional new manufacturing facility in Batu Kawan, Penang.

“Greatech’s new plant is a testament to Malaysia’s long-term investment opportunities, the thriving state of the manufacturing industry, and its ecosystem. Its capabilities in developing factory automation systems; and related modules and components for electric vehicle (EV), solar and medical devices, will create employment opportunities for our local talent and boost the industry ecosystem’s growth.”

“The Government encourages all companies in Malaysia to incorporate Environmental, Social and Governance (ESG) practices into their operations. By doing so, they can maintain relevance, resilience, and preparedness for future uncertainties. Greatech’s investment in ESG practices is a shining example of a corporate responsibility that others can emulate,” she added.

Ms. Ooi Hooi Kiang, the Board Chair of Greatech said, “Greatech has grown rapidly in the last 5 years, broadening our customers base across the world. Furthermore, our headcount significantly increased from 350 in 2018 to 1,300 to date. This has contributed to the creation of high-impact job opportunities with 50 per cent of the total staff being design engineers and 98 per cent of them being local hires.” “We also envision building Penang into a world-class automation hub and becoming the global top 10 factory automation solutions provider in the next few years. Our key emphasis is that the equipment and systems are designed and made by Malaysian talents. In order to realise our ambition, we continue to invest in three key strategic pillars, first, expanding our production capabilities, second, attracting and retaining key talents and lastly, building an enduring culture that encourages open communication and innovation”, she concluded.

-ENDS-

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 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.

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 Greatech Technology Berhad

Greatech’s principal activity is investment holding, whilst its subsidiary companies are principally involved in the design, manufacturing, installation and commissioning of equipment that are used to automate processes in production lines. Greatech Group’s products range from single automated equipment up to a production line system which comprises multiple automated equipment as well as provision of parts and services. The Group’s corporate headquarter is in Bayan Lepas, Penang, with facilities in Bayan Lepas, Batu Kawan and USA.

For media enquiries, please contact:

MIDA
Ms. Zakiah Sajidan
Director, Machinery and Metal Technology Division, MIDA
T: +603-22676769
E: [email protected]

INVESTPENANG
Ms. Yeoh Bit Kun / Ms. Ooi Phei Wen
E: [email protected] / [email protected]

GREATECH TECHNOLOGY BERHAD
Mr. Adrian Ang
T: +604-646 3260 Ext 111
E: [email protected]

Greatech Technology Berhad Marks Major Milestone with RM1.3 Billion Investment in Batu Kawan IV (BK IV)

Malaysian Investment Development Authority (MIDA) and Malaysia Digital Economy Corporation (MDEC) Welcome the JV Partnership to Enhance Digital Infrastructure in Malaysia

23 February 2023, Singapore/Kuala Lumpur — Real estate private equity firm Gaw Capital Partners announced today that the firm, has formed a JV platform jointly with A3 Capital to invest into greenfield and under-performing data centre assets across key markets in the Southeast Asia region. The collaboration is aimed to create a portfolio of Tier-3 certified data centre assets. This JV platform will also launch the Infinaxis Data Centre platform with a focus on developing Internet Data Centre (IDC) assets across the Southeast Asia region. The data centre assets under the JV platform will be managed by Infinaxis, staffed by an experienced data centre team originally under A3 Capital. The JV platform’s first investment is located in Cyberjaya, Kuala Lumpur, Malaysia, with other pipeline opportunities in other neighbouring countries like Indonesia and Singapore.

Cyberjaya is one of the largest IDC hubs in Malaysia, housing 67 per cent of the Multi-Tenant Data Centre market in Malaysia as of Q2 2021. Considered as the “Silicon Valley of Malaysia”, Cyberjaya, spanning around 29 square kilometres, is the nucleus of the Multimedia Super Corridor in Malaysia. Cyberjaya houses over 2,000 businesses, including SMEs, startups and multinational companies such as IBM, Fujitsu, Panasonic and Huawei, as well as seven universities, turning it into a regional and global ICT hub. Located in Cyberjaya, the seed investment consists of two greenfield sites with a combined plot area of 12,490 square meters. The JV platform will develop a 12 MW IT load IDC facility on one of the plots. The IT capacity will potentially be doubled in the future, with the second plot to be developed as an expansion site. The data centre assets under the JV platform will be operated by Infinaxis, which consists of seasoned industry experts with decades long track records in data centre, real estate and technology industries.

Kok Chye Ong the Managing Director and Head of IDC Platform, Asia (Ex-China) of Gaw Capital Partners said “Gaw Capital Partners is honored to work together with Infinaxis Data Centre Holdings as the platform operator. By forming this strong partnership, we will develop, acquire or reposition four to five data centres in different locations throughout Southeast Asia. The data centre demand in Malaysia is underpinned by strong internet traffic and high amount of data consumption. In recent years, the internet data growth in these areas have been further accelerated by the continued digital transformation of enterprises and 5G penetration. Also, several government initiatives over the last decade have made Malaysia an attractive market for data centres. However, the supply of quality data centres has not caught up with the technical demand from customers. We look forward to exploring more investment opportunities in this market.”

Zahri Mirza, Chief Executive Officer (CEO) for Infinaxis further added, “The outlook for data centre demand in Southeast Asia is indeed highly positive and our collaboration with Gaw Capital will allow us to fast track the delivery of services for our customers. Indeed, through our Gaw Capital partnership, we have been able to gain support from MIDA and MDEC in processing the necessary regulatory approvals in a timely manner.”

The Malaysian Investment Development Authority (MIDA) and Malaysia Digital Economy Corporation (MDEC) welcome the JV partnership formed by Gaw Capital Partners and A3 Capital to launch the Infinaxis Data Centre platform, enhancing digital infrastructure in Malaysia. Data centre facilities are now at the forefront of innovation and have been supporting the demand for mission-critical digital infrastructures and the cumulative growth of data. Not only do businesses rely on data centres for storage, but for disaster recovery and data management too.

Datuk Wira Arham Abdul Rahman, CEO of MIDA said “My sincere compliments to Gaw Capital Partners and A3 Capital for launching the Infinaxis Data Centre platform. Malaysia is the location of choice for industry leaders to site their best-in-class data centres. These combined efforts will definitely play a key role in enhancing our digital infrastructure.”

“The Government is committed to growing Malaysia as a data centre hub by developing infrastructure, facilitating innovation and strengthening frameworks guided by the MyDigital Blueprint and National Investment Policy (NIP). Anchored by the National Investment Aspirations (NIA), the NIP will outline practical strategies to prioritise nurturing innovative, high-impact, high-tech investments that create high value jobs,” added Datuk Wira Arham.

Ts. Mahadhir Aziz, CEO of MDEC, said, “As the nation’s lead digital economy agency, we are pleased to have facilitated this expansion in raising the overall infrastructure capacities in the data centre sector. This will be crucial as we seek to continue accelerating the growth of our digital economy, guided by the new national strategic initiative, Malaysia Digital (MD). MDEC will strive to form more effective collaborations and drive further facilitation on this front to ensure that the nation remains competitive and attractive to investments, towards establishing Malaysia as the digital hub of ASEAN.”

The JV platform is committed to incorporating ESG principles. Infinaxis plans to apply a staged implementation of more advanced sustainability features over time, considering the availability of options and unique circumstances at the respective sites. The data centres will be more efficient and sustainable, fundamentally making them more competitive which will increase the platform’s long-term value.

Gaw Capital Partners was named ‘Alternatives Investor of the Year: Asia’ at the PERE Awards 2021 after receiving the largest number of votes in a public ballot of the real estate industry. In recent years, IDC has been a focus sector for Gaw Capital Partners as the data centre industry is one of the cornerstones of the digital economy, which is growing rapidly with broad prospects. The firm was also highlighted for launching two data centre platforms in China and two in Pan-Asia. In September 2020, the firm closed fundraising for its first IDC platform, which invested in a portfolio of projects in partnership with IDC developers and operators in China, bringing the total equity raised to approximately USD1.3 billion with the aim to build “green, efficient, innovative and recyclable” data centre clusters.

The Asia region represents as one of the geographic frontiers in the data centre space with greater opportunities. The Gaw Capital data centre platform will also comprise data centres located in China, Indonesia, Japan, South Korea, Vietnam and now in Malaysia.

-END-

About Gaw Capital Partners
Gaw Capital Partners is a uniquely positioned private equity fund management company focusing on real estate markets in Asia Pacific and other high barrier-to-entry markets globally. Specialising in adding strategic value to under-utilized real estate through redesign and repositioning, Gaw Capital runs an integrated business model with its own in-house asset management operating platforms in commercial, hospitality, property development, logistics, IDC and education. The firm’s investments span the entire spectrum of real estate sectors, including residential development, offices, retail malls, serviced apartments, hotels, logistics warehouses and IDC projects.

Gaw Capital has raised seven commingled funds targeting the Greater China and APAC regions since 2005. The firm also manages value-add/opportunistic funds in the US, a Pan-Asia Hospitality Fund, a European hospitality fund and a Growth Equity Fund, and it provides services for credit investments and separate account direct investments globally. Since 2005, Gaw Capital has commanded assets of US$33.6 billion under management as of Q3 2022.

About A3 Capital
A3 Capital is a privately held specialist Real Estate investment platform based in Singapore with origination and execution capabilities across Asia Pacific. The founders have over 80 years of combined experience in Real Estate investment management, capital markets and finance, having managed over US$4bn worth of AUM across different geographies. A3 Capital organizes its activities in the following areas: –
• Real Estate Fund Management – develop real estate fund strategies in partnership with global investment funds and private equity investors;
• Asset Management – execute real estate strategies on behalf of global funds and institutions;
• Syndication – source, structure and invest alongside partners in opportunistic/open ended real estate and other asset-based strategies.

About Infinaxis Data Centre Holdings
Infinaxis is a data centre developer and operator and positioned to build a Data Centre platform in Southeast Asia. The team has deep DC knowledge with extensive experience in execution across the entire data centre life cycle of investment, site acquisition, financing, development, operations and divestment. Headquartered in Singapore, Infinaxis is uniquely positioned to tap the growing demand for digital infrastructure and services in the region. Our mission is to help organizations grow in digital transformation by providing state-of-the-art facilities and best-in-class services.

About Malaysia 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 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 Malaysia Digital Economy Corporation (MDEC)
MDEC is the agency under the Ministry of Communications and Multimedia Malaysia leading the digital transformation of the economy for 26 years. We aim to enable a progressive, innovation-led digital economy. MDEC will continue to lead Malaysia towards becoming a globally competitive digital nation through the development and execution of Malaysia’s Digital initiative, which aims to create substantial digital tools, knowledge and income opportunities. Malaysia Digital is set to enhance Malaysia’s value proposition to attract digital investments, firmly establishing Malaysia as the digital hub of ASEAN. For more information, please visit www.mdec.my.

Media Contacts:

Gaw Capital Partners
Ms. Camille Lam
Tel: +852 2583 7717/+852 9884 9198
Email: [email protected]
www.gawcapital.com

A3 Capital Pte. Ltd
Mr. Amos Ong
Partner
Email: [email protected]
www.a3capital-asia.com

Infinaxis Data Centre Holdings Pte Ltd
Ms. Norzana Haniff
Director of Marketing & Business Development
Email: [email protected]
www.infinaxis.net

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

MDEC
Mr. Simon Yap
Strategic Communications, Corporate Affairs Division
Email: [email protected]

Gaw Capital Partners and A3 Capital Jointly Form a JV Platform with the Launch of the first Infinaxis Data Centre in Malaysia

Kuala Lumpur, 21 February 2023 – KL Wellness City hosted a media announcement today on the support of the Malaysian Government, particularly the Malaysian Investment Development Authority (MIDA), towards the KL International Hospital (KLIH) project, a new private hospital to be built within the mixed development of KL Wellness City in Kuala Lumpur with proposed investment of RM860 million. The 624-beds hospital, with potential expansion to 1,000 beds, will offer a fully comprehensive and integrated ecosystem of healthcare services including wellness and fitness facilities. The project, set to be in operation in the first quarter of 2026, will create over 3,000 job opportunities.

The event was officiated by YBhg. Datuk Wira Arham Abdul Rahman, Chief Executive Officer (CEO) of Malaysian Investment Development Authority (MIDA) and YBhg. Dato’ Dr Colin Lee, Managing Director of KL Wellness City.

The Government through MIDA has provided incentives for the healthcare sector, including tax deductions and support for selected hospitals, to make it more regionally competitive and appealing to investors. To date, MIDA has approved incentives to 86 private healthcare facilities with a total investment of RM11.2 billion, creating over 18,000 job opportunities.

Datuk Wira Arham Abdul Rahman, highlighted, “Malaysia’s healthcare sector remains a top priority and the government has allocated a significant budget for healthcare. For instance, in 2022, the Ministry of Health (MOH) received the second-largest budget amounting to RM32.4 billion after education, underscoring the government’s commitment to ensuring the well-being of its citizens. Malaysia operates a two-tier healthcare system where the public and private sectors complement each other in providing healthcare, particularly in urban areas where the private sector fulfills a critical need which includes oncology, cardiology and gene therapy.”

He also added, “MIDA is optimistic that the KLIH project will bring positive economic benefits to Malaysia, in terms of creating high-quality jobs with majority of 95 per cent Malaysians which includes 460 medical specialists and doctors 1,972 nurses, and 278 allied health professionals such as physiotherapists, radiographers, medical technologists, pharmacists and technicians as well as increasing supply for quality healthcare and medical expertise. Eventually, it will contribute towards making Malaysia a medical tourism hub in the region.”

The hospital will be equipped with cutting-edge technology and state-of-the-art medical equipment which includes 22 operating theatres (including Hybrid Angio and MRI OT), robotic surgery, 3T MRIs, 512 CT, Biplane and Single Plane Cath labs, MRI Linac and a Hyperbaric unit. It will cater to a full range of medical disciplines, providing sophisticated to non-complex surgeries as well as tertiary and secondary care services. This will attract multidisciplinary leading specialists to practice in a single hospital location, shortening turnaround time for both local and foreign patients, optimising patient care and experience.

Malaysia’s healthcare system is accessible to nearly all of the population due to the complementary existence of the public and private sectors. Investments in world-class facilities have resulted in both private and public hospitals providing specialist services. The country also projects significant potential in the medical tourism industry, growing at a compound annual growth rate of 17%, and becoming a leading choice for foreign patients seeking healthcare treatment.

Sharing in this vision of building a 360-degree wellness hub, the KL Wellness City community boasts The International Tertiary Hospital, Medical Suites, innovation laboratories, clinical R&D facilities, healthcare company office towers, a retirement resort, a Healthcare Hub, wellness-centric serviced apartments, a fitness-based Central Park, and more. Serving as a healthcare nexus, these pivotal elements collectively render KL Wellness City the ultimate one-stop oasis for the body and the mind.

-ENDS-

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 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.

About KL Wellness City

At the forefront of wellness and healthcare, KL Wellness City is the first in Southeast Asia to cultivate a lifestyle fully integrated with healthcare. Pioneering a comprehensive ecosystem embodying healthcare and wellness living, KL Wellness City’s concept is uniquely modelled by its declaration to redefining, strengthening, and broadening our experience of health and quality of life.

Sharing in this vision of building a 360-degree wellness hub, the KL Wellness City community boasts The International Tertiary Hospital, Medical Suites, innovation laboratories, clinical R&D facilities, healthcare company office towers, a retirement resort, a Healthcare Hub, wellness-centric serviced apartments, a fitness-based Central Park, and more. Serving as a healthcare nexus, these pivotal elements collectively render KL Wellness City the ultimate one-stop oasis for the body and the mind.

For media enquiries, please contact:

MIDA

Ms. Wahida Abdul Rahman
Director, Healthcare, Education and Hospitality Division, MIDA
T: +603-2267 6622
E: [email protected]

KL Wellness City

Mr. Wan Zamri Wan Hassan
T: 019-5762296
E: [email protected]

Kuala Lumpur’s Integrated Medical Wellness City to Welcome New KL International Hospital, Providing Unmatched Healthcare Services

Penang, 18 February 2023 – Elna PCB Malaysia Sdn. Bhd. (Elna PCB), one of the key printed circuit board (PCB) players in Penang, held a groundbreaking ceremony today for the expansion of its new plant in Seberang Perai Tengah, Penang. With an investment value of approximately RM1 billion for the equipment, plant, and machinery, the construction of the new plant has commenced in December 2022. Aiming to be completed within a year, the plant is expected to create an additional of 1,000 employment opportunities and begin production by 2024.

Spanning across 10,289 square meters land area, the new plant is designated to manufacture PCBs for the usage of automotive, server, networking, laptop, desktop and consumer electronic devices products to support the ecosystem with its increased growing capacity.

Officiating the groundbreaking ceremony, the Right Honourable Mr. Chow Kon Yeow, Chief Minister of Penang, congratulated Elna PCB on achieving this milestone, “With a presence of nearly 30 years in Penang, Elna PCB’s expansion decision has greatly attested Penang as a sustainable location for investment. I believe that our robust industrial ecosystem, strong talent pool, conducive business environment as well as the region’s growth opportunities are among the key factors for Elna PCB to deepen its roots here,” said the Chief Minister.

“With PCB and substrate being a promoting subsector in Penang, I am confident that the expansion of Elna PCB will further enhance the local talent’s capabilities in advanced PCB technology solutions and create greater opportunities for our local suppliers. The state government, via InvestPenang and other state agencies, will ensure smooth implementation of Elna PCB’s expansion in Penang. I look forward to establishing a strong relationship with Elna PCB in the years to come,” the Chief Minister added.

Commenting on Elna PCB’s significant milestone, Mr. Sivasuriyamoorthy Sundara Raja, Deputy Chief Executive Officer, Investment Promotion and Facilitation of the Malaysian Investment Development Authority (MIDA), said “We are honoured that Malaysia’s competitive traits are in tandem with PSA Group’s strategic approach in mitigating the impact of COVID and geopolitical disruption. At MIDA, our focus is on attracting high-quality investments that have tangible spillover effects on Malaysia, in line with our National Investment Aspirations (NIA) and New Investment Policy (NIP). Our aim is to create high-skilled job opportunities and develop our local supply chain capabilities to meet the evolving requirements of our core economic sectors while encouraging innovation in emerging ones.”

“We are optimistic that Elna PCB’s latest reinvestment will enhance the transfer of technology and knowledge, as well as foster more local supply chain partnerships, leading to an even stronger industry ecosystem in Malaysia,” he added.

“Elna PCB is optimistic that, upon completion of this project, we will be able to achieve a 5-fold business growth from our current business size. We chose Penang as our present and future home, as Penang’s competitive edge lies in its skilled workforce, robust market and supply chain. Our local suppliers have been very supportive and we wish to strengthen our ties with them by enabling more localisation activities. In addition, Penang’s top-notch infrastructure and the strong government support are also the key reasons for us to invest in Penang,” said Mr. Ian Yang, the President of Elna PCB.

Established in 1994, Elna PCB has become part of the PSA Group in Taiwan, following a joint venture between PSA Group and Japan-based Elna Printed Circuit in 2018. PSA Group, short for Passive System Alliance, belongs to Walsin Lihua Group, an international conglomerate headquartered in Taiwan with operations spanning wire and cable, stainless steel and renewable energy. Having more than 50 production bases globally, including Taiwan, China, Japan and Malaysia, PSA Group’s business entities focus on PCBs, passive components, electronic manufacturing services and assembly.

Also presented at the groundbreaking ceremony included YB Dato Law Choo Kiang, Speaker of the Penang State Legislative Assembly, YB Yeoh Soon Hin, Penang State Exco in Tourism and Creative Economy, Dato’ Loo Lee Lian, CEO of InvestPenang and Mr. Davis Lai, President of PSA PCB Business Group.

END

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 centers. 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/. Do follow us on InvestPenang’s social media channels: Facebook ; LinkedIn

About Elna PCB
ELNA PCB is a member of Passive System Alliance (PSA), one of the global leading groups for PCB and electronic component products. ELNA, being the Japanese arm within the PSA group, has been dedicating its products and services in manufacturing high quality PCB with advanced technology PCB for Automotive, Communication, Industrial and medical markets for years, and is now expending its product footprints to Server, high speed networking product applications. For further information, please visit https://epc.elnapcb.com

For media inquiries, please contact:
MIDA
Ms. Noor Suziyanti Saad
Director of Electrical and Electronics Division
Email: [email protected]
Tel.: 03 – 2267 3575

InvestPenang
Ms. Yeoh Bit Kun / Ms. Ooi Phei Wen
[email protected] / [email protected]

Elna PCB
Mr. Jeffrey Hsieh
Sales Director, Head of HR and Administration
E: [email protected]
T: +604-397 3934

Elna PCB Deepens Root In Penang With RM1 Billion Expansion Plan

It’s a significant step forward for Malaysia’s efforts in promoting the adoption of electric vehicles and showcasing the country’s capabilities in the EV industry.

KUALA LUMPUR, 14 February 2023 – The Malaysian Investment Development Authority (MIDA) and the Malaysia Automotive, Robotics and IoT Institute (MARii) have joined forces to organise the first national level Electric Vehicle (EV) Conference 2023 at MIDA headquarters today. With the theme “Gearing Up for EV Revolution: The Malaysia Story,” it is clear that the event highlighted Malaysia’s plans and progress towards a more sustainable and environmentally-friendly future. The collaboration between MIDA and MARii also highlights the government’s commitment to driving the EV industry forward and supporting the development of related technologies.

The strong turnout of over 300 attendees, both physically and virtually, suggests that there was a high level of interest in the EV industry and its potential impact on the country’s economy and environment.

Officially inaugurated by YB Senator Tengku Datuk Seri Utama Zafrul Bin Tengku Abdul Aziz, Minister of International Trade and Industry (MITI), the conference was also attended by YB Nik Nazmi Bin Nik Ahmad, the Minister of Natural Resources, Environment and Climate Change (NRECC); YB Liew Chin Tong, Deputy Minister of MITI; Datuk Wira Arham Abdul Rahman, Chief Executive Officer (CEO) of MIDA; Datuk Phang Ah Tong, Chairman of MARii; and Dato’ Ahmad Suhaimi Bin Endut, Undersecretary, Public Asset Management Division, Ministry of Finance Malaysia (MOF).

Officiating the conference, the Minister of MITI, YB Senator Tengku Datuk Seri Utama Zafrul Bin Tengku Abdul Aziz, said, “EVs are the intuitive solution for low carbon mobility and zero-emission vehicles, and the nascent global EV industry provides significant room for growth, particularly in ASEAN which has the potential to be both a manufacturing hub and market for EVs. Malaysia, as one of the leading electrical and electronics (E&E) manufacturing hubs in ASEAN, is already taking steps to strengthen her position by crafting supportive policy measures, leveraging on its existing EV ecosystem and ensuring a solid talent pipeline. All these bode well for investors looking to develop a viable and sustainable EV industry in Malaysia, while helping Malaysia achieve her net zero greenhouse gas emissions by 2050.”

YB Nik Nazmi Bin Nik Ahmad, the Minister of NRECC in response to the announcement said, “NRECC has taken into account the importance of balancing energy demand and reducing carbon emissions, and this includes the development of EVs and its ecosystems in Malaysia. The country aims to install 10,000 EV charging points by 2025 through the Low Carbon Mobility Blueprint, with up to 900 charging points at present. NRECC is also committed to increasing electricity generation from Renewable Energy sources (Renewable Energy) through the Electricity Supply Generation Development Plan 2021-2039 while strengthening the grid and developing the Electric Vehicle (EV) ecosystem.”

Datuk Wira Arham Abdul Rahman, CEO of MIDA, expressed, “We are optimistic that electric vehicles will increase in popularity and become more widespread, particularly with the growing demand for environmentally friendly transportation in the ASEAN region. Through proactive initiatives, MIDA is poised to position Malaysia as a prominent global value chain player and the preferred technology partner for electric vehicles, in line with the National Investment Aspirations (NIA) and the New Investment Policy (NIP), towards achieving low carbon mobility.”

“In this regard, I urge the industry players to take the initiative and increase the involvement of local companies in high-value-added activities in both the domestic and global supply chains. By working together, we have the potential to create positive economic spill overs, such as transferring technology, providing high impact jobs, offering investment opportunity, and increasing exports, all in line with our NIP,” he added.

Datuk Phang Ah Tong, Chairman of MARii, commented, “Today’s event is especially significant, on steering the growth of the EV industry in Malaysia and staying relevant to the global shift towards electrification, as the world is moving towards carbon emission reduction and producing cleaner air for the benefit of our beloved Malaysia, the planet and the future generation.”

Malaysia has pledged to become a nation with net-zero greenhouse gas emissions by 2050, as outlined in the 12MP. The government is also committed to driving the efforts of attracting investments in EVs and achieving the national target of 15 per cent of the total industry volume for EVs and hybrids by the year 2030. Currently, Malaysia has recorded more than 15,000 units of xEVs (plug-in hybrid, hybrid and full battery electric vehicles) on the road in 2022.

The conference covered a range of important topics related to the development of electric vehicles (EVs) in Malaysia. The first panel discussion was on Market Competitiveness in the EV industry and included prominent players such as, Volvo, Samsung, Proton and Eclimo.

The second panel discussion delved into the Emerging Infrastructural Challenges facing the widespread adoption of EVs. With a diverse group of participants from the public and private sectors, including government agencies and energy companies namely Suruhanjaya Tenaga Malaysia (ST), Malaysian Green Technology and Climate Change Corporation (MGTC), Tenaga Nasional Berhad (TNB) and Gentari, a clean energy solutions company wholly-owned by Petronas, the Conference provided a comprehensive overview of the current state of the EV industry in Malaysia and addressed the key challenges and opportunities facing its growth.

The business clinic session attended by over 30 companies, was a valuable addition as it allowed participants to network and engage with experts in the field, namely MIDA, MARii, Energy Commission and Tenaga Nasional Berhad, which will potentially lead to new partnerships and collaborations.

Overall, the conference was a positive step towards promoting the adoption of EVs in Malaysia and creating a sustainable future for the country.

*****

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 21 overseas offices. MIDA continues to be a 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, Tik Tok and YouTube channels.

About MARii

Malaysia Automotive, Robotics & IoT Institute (MARii), is an agency under the Ministry of International Trade and Industry (MITI). Serving as the focal point, coordination centre and think tank for the nation’s automotive industry, it functions to enhance technology, human capital, supply chain, market outreach and aftersales capabilities of all automotive stakeholders and ecosystems. MARii serves to spur the development of smart systems through the implementation of digital technologies with a special focus on big data analytics and artificial intelligence, including automotive and connected mobility ecosystem.

For media enquiries, please contact:

MIDA
Mr. Nazuki Abdullah
Director, Transportation Technology Division
Phone : +603 2267 6688
Email: [email protected]

MARii
Mrs. Norazrinawati Kamaruddin
Sr. Manager, Corporate Services Division
Phone: 017-9326907
Email: [email protected]

The Inaugural Electric Vehicle (EV) Conference In Malaysia Themed Gearing Up For EV Revolution: The Malaysia Story Is A Success

22 February 2022, Bangi – Ministry of Environment and Water (KASA), the Malaysian Green Technology and Climate Change Corporation (MGTC), Malaysian Investment Development Authority (MIDA) and Malaysia External Trade Development Corporation (MATRADE) successfully recorded business leads worth RM4.6 billion through Memorandum of Understanding and Memorandum of Cooperation agreements from the virtual 12th International Greentech & Eco Products Exhibition & Conference Malaysia (IGEM 2021), held over 6 months from July to end December last year.

The overall event themed “Redefining Sustainability” focused on delivering sustainable economic and social well-being in a planet-friendly manner. The region’s largest trade event for green technologies and eco-solutions achieved commendable results, recording over 15,000 policy makers, entrepreneurs, industry experts and other delegates, from over 50 countries, who explored the 195 booths and participated in the over 144 conference sessions.

Speaking to the media during the briefing, the Minister of Environment and Water, Yang Berhormat Dato’ Sri Tuan Ibrahim Tuan Man said, “KASA is very much committed to enhancing the action of addressing climate change. This effort was disclosed in the country’s statement in conjunction with the COP 26 conference held in Glasgow, United Kingdom in November 2021.”

“In addition to delivering commendable results, the ventures signed at IGEM 2021 cover future-ready sectors such as hydrogen, electric vehicles and low carbon cities. These sectors strongly support the government’s sustainable economy agenda while also ensuring the creation of long-term employment opportunities for the Rakyat,” he added.

In line with efforts to transition to an endemic phase in the national Covid-19 mitigation strategy, the Minister also announced that IGEM 2022 will take on a hybrid format. A physical exhibition is to be held for 3 days at the Kuala Lumpur Convention Centre from 12 to 14 October. Virtual IGEM 2022 will be held one month before the physical event. IGEM 2022 has set targets of RM3 billion in business leads and 30,000 visitors. It will feature 300 exhibitor booths, both online and across three exhibition halls at the Kuala Lumpur Convention Centre. IGEM 2022 will be a key focus among stakeholders in the implementation and coordination of more effective strategies on climate change in the country.

MIDA, confirmed its participation in IGEM 2022 and will continue to play an important role to facilitate inbound investments in the manufacturing and services sectors. IGEM 2021’s virtual booth have yielded a total of 71 project leads with potential investment of RM 2.52 billion in various activities.

MIDA’s Chief Executive Officer (CEO), Datuk Arham Abdul Rahman, said, “ As IGEM’s strategic partner, MIDA is privileged to continue playing an integral role in facilitating towards the nation’s Sustainable Development Goals (SDG). IGEM fits the country’s mission to collectively pursue economic and social well-being. We are honoured to be selected as strategic investment partners in such an esteemed event. Working together with KASA on IGEM, over the years we have been able to attract strategic projects that are aligned with the Sustainable Development Goals (SDG) and Environmental, Sustainability and Good Governance (ESG) policies for Malaysia.”

“These green – technology and environmentally conscious business models are crucial in positioning Malaysia as a sustainable and ESG complaint investment destination which is a key competitive advantage for global brands,” he added.

IGEM 2021 has succeeded in acting as a catalyst through forums such as the inaugural International Hydrogen Economy Forum and Strategic Lab, ‘Visioning a Hydrogen Economy for Malaysia’ in collaboration with KASA, the Ministry of Science, Technology and Innovation (MOSTI), MGTC and Nano Malaysia. This forum explored positioning Malaysia as a regional leader in the production of green hydrogen as a source of clean energy in power production and transportation, as well as an impetus for new economic growth and new employment opportunities.

Further afield, IGEM 2021 had also featured as part of KASA’s month-long programme held at the Malaysia Pavilion in Expo 2020 Dubai, providing an opportunity to promote IGEM’s exhibitors as well as Malaysian green technology innovation and expertise to a wider global audience.

MGTC’s CEO, Shamsul Bahar Mohd Nor said, “With the success of IGEM 2021, I am confident that the upcoming IGEM will once again surface new opportunities for greater deployment of green and sustainable technologies in the regional post-Covid economic recovery, enhancing climate change
mitigation and fast-tracking the roll-out of climate change adaptation technologies and strategies as we all build back better.”

“Thank you to our exhibitors, conference partners, strategic partners and visitors for their support and hope that they will reaffirm their commitment by joining us and being a part of IGEM 2022 as we focus our collective efforts to accelerate net zero,” he added.

To explore more green technology opportunities and to register in advance, please visit www.igem.my.

– END –

About Malaysian Green Technology and Climate Change Corporation (MGTC)
Malaysian Green Technology and Climate Change Corporation (MGTC) is an agency of the Ministry of Environment and Water (KASA) mandated to drive the country in the scope of Green Growth, Climate Change Mitigation and Green Lifestyle.

Three national policies, in particular, the National Green Technology Policy (NGTP), the National Climate Change Policy (NCCP) and the Green Technology Master Plan (GTMP), regulated MGTC’s role as a catalyst for green economic growth.

MGTC’s initiatives and programs provide specific details in achieving the long -term impact of the Nationally Determined Contribution (NDC) to reduce greenhouse gas emission intensity by 45% based on Gross Domestic Product (GDP) compared to emission intensity in 2005 by 2030, increasing the GDP rate from green technology of RM100 Billion and the generation of 230,000 green jobs.

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.

For media enquiries, please contact:
Zaid Karim Shaari
Director of Industry Development
Email: [email protected] || Mobile: +60 12-297 7625

MIDA
Wan Hashimah Wan Salleh (Ms.)
Director, Green Technology Division
DL: +603-2267 3540 | Email: [email protected]

IGEM 2021 Generated a Total of RM4.6 billion in Business Leads

Kuala Lumpur, 15 February 2022 – The Malaysian Investment Development Authority (MIDA) through its Domestic Investment Coordination Platform (DICP) with Bursa Malaysia and Capital Markets Malaysia (CMM), an affiliate of the Securities Commission Malaysia (SC) kickstarted their seminar series on ‘Business Growth through the Malaysian Capital Market’.

This inaugural seminar, held in Port Dickson, Negeri Sembilan, was jointly organised with Invest Negeri Sembilan and attracted 35 companies from Negeri Sembilan as well as Melaka. MIDA anticipates to organise more seminars throughout the country in 2022.

Recognising the financial challenges faced by the domestic industry players, particularly the SMEs and Mid-tier companies (MTCs) to execute their business expansion plans, MIDA looks to provide opportunities for businesses to learn, evaluate and consider raising capital through the public and private markets, as well as market-based financing options such as equity crowdfunding (ECF) registered with the SC.

During the event, Mr. Sukri Abu Bakar, the Director of Domestic Investment Division, MIDA remarked “Through MIDA’s proprietary services, we have enabled various scales of local businesses, including SMEs and SMIs. MIDA’s Domestic Investment Coordination Platform or DICP aims to bridge businesses, technologies and research capability with capital funding sourced from the public and private markets. We continuously work with local regulators, technology providers and financial institutions to drive business growth by facilitating business support services to SMEs and SMIs, crucial to domestic direct investments, which bring significant economic growth.”

Mr. Azhar Mohd Zabidi, the Director of Securities Market of Bursa Malaysia added,
“Bursa Malaysia is very pleased to support MIDA in the ‘Business Growth through the Malaysian Capital Market’ seminar with Invest Negeri Sembilan. This initiative is a great way to increase awareness and create better understanding among SMEs and MTCs throughout Malaysia to ultimately tap the Malaysian capital market through various channels including IPOs (initial public offerings). IPOs will not only facilitate the raising of capital to help fulfil growth strategies, but also open doors to new opportunities for the companies at different stages of growth.”

In supporting MIDA’s efforts in developing the growth of domestic businesses, CMM shared on its Elevate Programme, a bespoke executive leadership programme for Malaysian MTCs. The 12-month capacity development programme offers guidance on business redesign strategies, fundraising models and access to fund raising through the capital market. Companies that stand to benefit from this programme include business founders, privately-held family-run businesses in their second and third generations, entrepreneurs that are looking to leverage new investors for growth strategies as well as companies that are seek listing on the local bourse to expand their footprints.

The whole-day event featured panel presentations by MIDA, Capital Markets Malaysia and Bursa Malaysia Berhad; followed by one-on-one session between participants and private equity firms such as COPE and Bintang Capital; as well as equity crowd funding (ECF) platforms, 1337 Ventures and PitchIN.

*****

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 Bursa Malaysia
Bursa Malaysia is an Exchange holding company incorporated in 1976 and listed in 2005. It has grown to be one of the largest bourses in ASEAN today. Bursa Malaysia operates and regulates a fully-integrated exchange offering a comprehensive range of exchange-related facilities and is committed to Creating Opportunities, Growing Value. Learn more at www.bursamalaysia.com.

About Capital Markets Malaysia (CMM)
As part of its developmental mandate, the SC set up CMM in 2013 to spearhead both the local and international positioning and profiling of the Malaysian capital market with its wide range of conventional and Islamic products, supported by a strong governance infrastructure. CMM profiles the competitiveness and attractiveness of the various segments of the capital market to increase participation and enhance opportunities for capital market intermediaries, issuers and investors.

For more information, please contact:

MIDA
Sukri Abu Bakar (Mr.)
Director, Domestic Investment Division
[email protected] | +603 2267 3685

Bursa Malaysia
Muhammad Nizam Ashraff Mohd Taharim
Manager, PR & Media
[email protected] | +603 2034 7348

CMM
Farina Ahmad Farid (Ms.)
Head, Communication
[email protected] | +603 6204 8616

MIDA, Bursa Malaysia and CMM Encourage Local Companies To Explore Alternative Fundraising

Pulau Pinang, 10 February 2022 – Eclipse Automation Inc, a leading supplier of custom automated manufacturing equipment for the life sciences, energy, transportation, consumer electronics, and industrial industries, announced its first manufacturing facility in Asia to be based in Pulau Pinang. A groundbreaking ceremony for the new facility was held today at Batu Kawan, Pulau Pinang. The facility is set to serve its major customers across Asia Pacific and other regions and factory construction is expected to commence within the first quarter of 2022 with commercial operations targeted to begin in 2023.      

Eclipse Automation is headquartered in Ontario, Canada and has 20 facilities strategically located in the vicinity of Fortune 500 companies and manufacturing centres across Canada, United States and Central Europe. The latest expansion is part of the group’s commitment to increase manufacturing production capacity to meet global demands.           

“The new facility in Batu Kawan is expected to create approximately 150 new jobs by 2025 with about 80 per cent of the employees from the technical and engineering background. This project is timely and significant as it can contribute to the Malaysian economy in terms of high-income employment amidst the COVID-19 pandemic. This project which further strengthens Malaysia’s position as a strategic destination for global Machinery and Equipment (M&E) players that will create a multiplier effect within the domestic economy in terms of local supply chain usage and technology transfer,” shared Datuk Arham Abdul Rahman, Chief Executive Officer of Malaysian Investment Development Authority (MIDA).  

The Eclipse Automation Malaysia site will span three (3) acres of prime industrial land, with a production area of 55,000 square feet and an office area of 27,000 square feet designed to fully support the compliance needs of the customers within the life sciences sector, as well as serving the high-tech automotive, alternative energy, and consumer industries. This site will also act as a cost-effective and desirable strategic location for continued global growth, in collaboration with Eclipse’s current technology and manufacturing hubs in Canada, the U.S.A., Germany, Hungary and Switzerland.

Eclipse Automation CEO, Mr. Steve Mai, said “We celebrated the Year of the Tiger with a brave new level of expansion within our business. Eclipse Malaysia will further extend its reach, to bring customers’ expert regional support, service and fulfillment within Asia. The site in Pulau Pinang will provide exceptional, value-added manufacturing options to best support global programs, including replication line and outsourcing model platforms. Our Malaysian facility will also employ a large team of highly-qualified engineers, assemblers and other support teams to enhance our ability to provide solutions with a powerful follow-the-sun model of service. We appreciate MIDA for supporting us throughout our journey and Malaysia’s pro-business, pro-trade and business-friendly investment policies have played a key role in helping us make our investment decision.”

“With our Government’s business-friendly policies, investors such as Eclipse Automation can leverage on Malaysia’s strategic location, a vast network of infrastructure, strong support industries as well as talented workforce to become prominent players within the global value chain. I am also confident that Eclipse Automation’s investment will be another major step forward for Malaysia and their growth here will be beneficial for our local industry and people.” added Datuk Arham

In 2021, a total of 49 M&E projects have been approved with an investment value of RM1.3 billion. Of the total, 27 were new projects, with investments amounting to RM753.7 million (56.3 per cent). The remaining 22 were expansion/diversification projects worth RM584.4 million (43.7 per cent). Most of the investments approved were from foreign sources amounting to RM906.0 million or 67.7 percent, while the remaining RM432.2 million (32.3 per cent) were from domestic direct investment (DDI). These approved projects are expected to create 2,253 new job opportunities.

*****

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 Eclipse Automation, Inc

Founded in 2001 and with over 900 employees, Eclipse offers customized automation and manufacturing solutions from prototype to production for major MNCs across the globe in the field of machinery and equipment. Eclipse Automation had long been involved in Design & Manufacturing of factory automation systems and modules for a wide variety of industrial applications, and accelerator for innovation and invention in the automation industry. For its sixth consecutive year, Eclipse was recognized as one of Canada’s Best-Managed Companies for overall business excellence by Deloitte’s Best Managed Companies program. Eclipse was also a six-year recipient of the Growth 500 Award that celebrates Canada’s most dynamic and successful businesses. For more information about Eclipse Automation Inc, please visit www.eclipseautomation.com.

For more information, please contact:

Ms. Zakiah Sajidan
Director, Machinery & Metal Technology Division, MIDA
Telephone: 03-2267 3628
Email: [email protected]

Ms. Patty Atwell
Global Director,
Marketing & Communications
Eclipse Automation Inc.
Cambridge, Ontario, CANADA
Telephone: +1 519-620-1906 ext:734
Mobile: +1 519-635-1722
Email: [email protected]

Mr. Mathew Perera
General Manager
Eclipse Malaysia Sdn. Bhd.
Penang, MALAYSIA
Telephone: +604-589-9988
Mobile: +6016 419-5438
Email: [email protected]

Eclipse Automation’s Right Move to Establish Its Overseas Manufacturing Facility in Malaysia

Kuala Lumpur, 4 February 2022 – Malaysia’s pharmaceutical industry recorded RM397.67 million approved investment from January to September 2021, exceeding the highest full-year figure approved in 2017. The sector also achieved astounding export figures for 2021, amounting to RM2.42 billion, a 24 percent increase from 2020.

YB Datuk Lim Ban Hong, Deputy Minister of International Trade and Industry (MITI), commended the industry’s outstanding performance during his industry visit to Biocon Sdn. Bhd. in Johor on 26 January 2022. “MITI has always attached great importance to the development of the pharmaceutical industry, particularly as we progress into the new norm with COVID-19. The increasing demand for medical and healthcare services has further driven the rapid development of the pharmaceutical industry.”

YB Datuk Lim Ban Hong further mentioned, “The Malaysian Investment Development Authority (MIDA) has also been continuously attracting and targetting high-quality tech investments in the pharmaceutical industry to strengthen Malaysia’s position in the global value chain. Biocon’s establishment and growing footprint is a testament to our nation’s competitive advantages and commitment to deliver value to our investors in line with our National Investment Aspirations and Twelfth Malaysia Plan.”

Biocon, one of the top Asian biopharmaceutical companies, chose Malaysia to set up Asia’s largest integrated insulin manufacturing facility in 2010 at the Southern Industrial Logistics Park (SILC), Johor. The project valued at over USD350 million is among Malaysia’s highest foreign pharmaceutical investments, and the first and only facility for manufacturing of insulins in Malaysia.

The company’s Malaysian hub is its first overseas bio-pharmaceuticals manufacturing and research facility. The well-equipped, state-of-the-art manufacturing facility in Nusajaya has employed around 800 employees and is the country’s first US-FDA-certified sterile biologics facility. Over the last five years, Biocon has been supplying life saving insulin products to patients in Malaysia from its Johor facility.

YB Datuk Lim Ban Hong welcomed Biocon’s commitment to supporting the Government’s emphasis on local talent development. “We trust that Biocon will be instrumental in Malaysia’s effort to retain local talent and ensure the local pharmaceutical industry ecosystem continues to thrive for years to come. Besides creating high-value job opportunities, we are responsible for preparing our aspiring young innovators and leaders because they are crucial to nation-building in this technologically driven era. We hope to see more of our local players exploring the international pharmaceutical market beyond catering to domestic needs.”

He further added that the partnership between Biocon and Malaysia would bring forth new R&D activities to spur growth in product innovation and new career options. Biocon, during the visit also indicated plans for an expansion of the facility to make the facility a hub for insulin manufacturing for meeting patient needs across the globe. Since 2020, the Government has adopted policies that prioritise the public’s welfare, including raising healthcare expenditure and improving medical access to prioritise the healthcare needs of the high-risk segments. Such measures have increased manufacturing volume and brought new trade opportunities with other nations to meet global healthcare demands.

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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. 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.

For media enquiries, please contact:
Balkish Mohd Yasin (Ms)
Director
Life Sciences & Medical Technology Division, MIDA
[email protected] | DL: +603-2267 3458

Malaysia’s Pharmaceutical Industry Expanding Strongly Records Highest Approved Investment since 2017

Kuala Lumpur, 3 February 2022 – Further to the Budget 2022 announcement, the Finance Bill 2021 was tabled in Parliament and unanimously passed on 23 December 2021. The Finance Bill 2021 incorporates several announcements made in the Budget 2022 and contains proposed amendments, including to the Promotion of Investments Act 1986 (PIA). Effective from 1 January 2022, the definitions of “Contract Research and Development Company” and “Research and Development Company” under section 2 of the PIA require companies to be approved as a research and development (R&D) status company by the Minister of International Trade and Industry (MITI).

Companies in the business of providing R&D services namely, Contract R&D Company and R&D Company that wish to apply for R&D tax incentive will be granted R&D status (subject to MITI’s approval) for a period of five (5) years. Companies approved with this status may apply for extension to the Malaysian Investment Development Authority (MIDA). However, the granting of the approval is subject to consideration by MITI and the Ministry of Finance.

The Finance Bill 2021 further provides that existing Contract R&D Companies and R&D Companies which have been given approval as a R&D company prior to 1 January 2022 which intend to fall within the new definition of “Contract Research and Development Company” and “Research and Development Company” are required to notify MIDA within the grace period that is from 1 January 2022 to 30 June 2022 for consideration. For this purpose, companies are required to provide documents to prove that they are undertaking activities relating to R&D as defined under the PIA and complies with conditions imposed previously in their approval letters. Failure to do so will cause the companies to cease their status as approved companies fulfilling the definition of “contract research and development company” and “research and development company”.

The Finance Bill 2021 may also be referred at the following link:

https://lom.agc.gov.my/act-detail.php?language=BI&act=833

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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 and Facebook, LinkedIn and YouTube channel.

For more information, please contact:

Puan Rashidah Othman
Director, Advanced Technology and R&D Division, MIDA
Email: [email protected]
Tel : 03-2267 3431

Puan Zuaida Abdullah
Director, Strategic Planning & Policy Advocacy (Services), MIDA
Email: [email protected]
Tel : 03-2267 6675

Amendments to The Definition Of Contract Research & Development Company And Research & Development Company In The Promotion Of Investments Act, 1986 Including Application For Approval As A Research & Development Company

Kuala Lumpur, 26 February 2021 – Cabot Corporation will continue its strategic investments to expand its manufacturing as well as research and development (R&D) capabilities at its plant in Port Dickson, Negeri Sembilan, Malaysia.

The global speciality chemicals and performance materials company announced the launch of its Engineered Elastomer Composites (E2C™) solutions in 2020 as part of its efforts in raising the bar within the tire and industrial rubber industry. To further expand manufacturing of its E2C solutions, Cabot is increasing its staff strength by more than 30 per cent as well as installing enhanced digital controls and automation systems. The Company is also signing a long-term extension and expansion of its land lease in Port Dickson.

Cabot’s Port Dickson site has led the industry by developing the first industrial scale, continuous liquid mixing process for natural rubber latex. With Cabot’s expanded R&D capabilities, it will continue to lead and advance rubber technology through specific innovations such as new tools for modeling and optimisation of liquid mixing, novel methods for characterising elastomer composites as well as automation of continuous rubber processing.

Dato’ Azman Mahmud, Chief Executive Officer of the Malaysian Investment Development Authority (MIDA), welcomed the Company’s commitment and confidence in Malaysia, “This investment by Cabot, a global leader in the development and commercialisation of innovative elastomer composites, is even more recompensing in the backdrop of the current challenges surrounding the pandemic. It is a testament to Malaysia’s resilient business environment and promising returns to investors. MIDA is confident that Cabot will benefit from Malaysia’s solid chemical industry ecosystem, backed by investor-friendly business environment and policies as well as the availability of talented and skilled workers in the country.”

“Cabot has joined other industry players to choose Malaysia as their investment destination, particularly within the speciality chemicals sphere. As partners to investors, MIDA remains committed to drive high quality and knowledge-driven projects into Malaysia, in line with our national investment agenda for long term sustainable growth of the economy,” added Dato’ Azman.

David Reynolds, Vice President and General Manager at Cabot Engineered Elastomer Composites added, “Our plant in Malaysia has been a key asset for us as we have continued to develop and expand our portfolio of elastomer composites solutions. We are excited about the launch of our new E2C line of products and the sustainability benefits that they provide in a variety of customer applications. As such, we are committed to continuing to partner with MIDA to strengthen our investments in Port Dickson and support the growth of this high-performance product line.”

Cabot’s E2C solutions are a new category of performance rubber composites based on a proprietary liquid mixing process for natural rubber latex, including three commercially viable products for off-the road mining tire applications. Tires made with E2C solutions last longer and are more energy efficient, resulting in reduced raw material consumption, fewer end-of-life tires and lower carbon dioxide emissions.

Furthermore, during the rubber compounding process, E2C solutions require fewer mixing stages, shorter cycles and lower temperatures, translating into additional sustainability and economic benefits. As a result, E2C solutions support more sustainable mobility, a key element of Malaysia’s National Automotive Policy, designed to enhance the country’s economic competitiveness while reducing the negative impact on the environment.

Cabot’s E2CTM solution was also named in the European Rubber Journal’s inaugural Top 10 Elastomers for Sustainability List in July 2020. Learn more about the E2CTM solution at cabotcorp.com/e2c.

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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 Cabot Corporation

Cabot Corporation (NYSE: CBT) is a global speciality chemicals and performance materials company, headquartered in Boston, Massachusetts. The company is a leading provider of rubber and speciality carbons, activated carbon, inkjet colorants, master batches and conductive compounds, fumed silica, and aerogel. For more information on Cabot, please visit the company’s website at: http://www.cabotcorp.com.

Media Contacts:

MIDA
Manjit Kaur Balkar Singh (Ms)
Email: [email protected] | DL: +603-2267 3509

Cabot Corporation
Thirunavuc Karasu (Mr)
Email: [email protected]

Cabot Corporation, Producer of Engineered Elastomer Composites, Expands Investments in Malaysia for New Sustainable Rubber Technology

Kuala Lumpur, 25 February 2021 – The Malaysian Investment Development Authority (MIDA) organised a virtual Domestic Investment Webinar to urge domestic stakeholders to implement digitalisation values and adopt innovation in their business to remain resilient. The session themed “Innovation and Transition to New Business Models” was supported by the Department of Polytechnic and Community College Education (DPCCE) of the Ministry of Higher Education (MOHE), Malaysia Productivity Cooperation (MPC), SIRIM Berhad and AmBank.

Mr. Ahmad Khairuddin bin Abdul Rahim, Deputy Chief Executive Officer II, MIDA, in his opening address, highlighted that “In order to drive business growth and staying relevant in current norms, business leaders, especially the small and medium-sized enterprises/businesses (SMEs) must be able to think creatively and embrace innovation into their business models. A willingness to innovate should also go along with a solid understanding on how to cultivate the innovation into life. The focus will be on assisting Malaysian businesses to shift from old conventional growth models to build new growth through adoption of the digital system.”

He added, “Malaysia’s Industry4WRD policy is an excellent guide. The incentives of Industry4WRD Readiness Assessment and its subsequent Intervention Fund offered by the Government enable domestic companies to assess their capabilities and readiness to adopt Industry4.0 processes, understand their present capabilities and gaps, as well as prepare feasible plans to move towards effective adoption of Industry 4.0. This represents the first step for companies in Malaysia to align with the rapidly changing technological landscape while developing new growth areas by prioritising operational efficiency and resilience through digital and automation technologies.”

“The Automation Capital Allowance (Automation CA), introduced in the 2015 Budget is also a major initiative to motivate domestic companies to undertake automation and machine upgrading. Another critical enablers are the skilled talent and up skilling programmes to drive and sustain Malaysia’s economic growth. The availability of a skilled workforce will support the transition of all economic sectors towards knowledge-intensive activities. The Smart Automation Grant (SAG) under the RM100 million allocation approved within the National Economic Recovery Plan or PENJANA , is another initiative awarded to eligible Small and Medium Enterprises (SMEs) and Mid-Tier Companies (MTCs) on a matching basis or 50 per cent of total eligible expenditures, up to a maximum grant cap of RM1 million per company. SAG will not only improve Malaysia’s industrial competitiveness and capabilities but also reduce our reliance on low-skilled foreign workers while creating new job opportunities in high value-added sectors.” added Mr. Ahmad Khairuddin.

In his remarks, Mr. Ahmad Khairuddin also highlighted on the ‘Lighthouse Project’ an initiative undertaken by MIDA to enable MNCs and local corporations that have successfully gained from Industry 4.0 transformation to guide and support Malaysia’s local manufacturing industries to also implement the Fourth Industrial Revolution processes in gaining business traction. “As Malaysia aims to reposition among the top Global Manufacturing Nations, MIDA continues to identify and attract foreign and local companies that have successfully adopted the Industry 4.0 key pillars to invest here” he stressed.

The webinar has successfully attracted more than 300 participants, including manufacturers, service providers and other potential investors. The session featured presentations by experts from MIDA, Ambank, DPCCE and SIRIM.

Companies interested in seizing to leverage on the various initiatives offered by MIDA, including Automation Capital Allowance (ACA), Industry4WRD Intervention Fund and Smart Automation Grant (SAG), may refer to the official website, www.mida.gov.my.

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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.

Media contacts:

MIDA

Manjit Kaur Balkar Singh (Ms)

Email: [email protected] | Tel.: +603 2267 3509

MIDA Urges Domestic Companies to Adopt Digitalisation and Innovation in Their Business Models to Stay Competitive

BANGI, Malaysia (Feb. 24, 2021) – DENSO MALAYSIA A Sdn. Bhd. a subsidiary of DENSO Corporation, Japan, a leading global mobility systems and components supplier will be expanding its production capacity in Selangor, Malaysia . The RM160 million investment project has been approved by the Malaysian Investment Development Authority (MIDA) and is scheduled to commence in April 2021 DENSO MALAYSIA products range from air conditioning systems, radiators, engine control units, airbag electronic control units, electric power steering and other products.

In recent years, electronic controls have been increasingly adopted in various vehicle systems . T he semiconductors ’ performance evolves continuously to enhance the safety standards of growing demand s for semi conductors to full autonomous electric vehicles.

Dato’ Azman Mahmud, Chief Executive Officer of MIDA, expressed “We are honoured ” to be selected as the country outside Japan to produce the advanced product s as a result of continuous research and development (R&D). Moreover, we acknowledge the operational expenditure of over RM20 million in the next five years would benefit the local business ecosystem, from insurance, legal, banking, information and communication technologies (ICT) as well as transportation industries”.

DENSO ’s decision to further expand their presence in Malaysia has proven that the country continues to be a competitive investment location for high value operations amidst global headwinds . This is a nother testament to MIDA’s efforts in attracting quality investment into Malaysia Dato’ Azman stressed.

DENSO has more than 40 years of experience in manufacturing in vehicle semiconductors. Established in 19 80 DENSO MALAYSIA A possesses extensive experience, skill s and knowledge in the production of electronic parts. It was selected to be the only production centre of semiconductors in ASEAN outside of Japan backed by Malaysia’s strong suppliers’ network, well developed infrastructure and a business friendly environment said Tomoya Nakamura, Managing Director of DENSO MALAYSIA.

DENSO MALAYSIA A will be venturing into the production of automotive semiconductors, ASIC named “Exposed Package (Ex PKG ))”, which is superior and competitive in term s of high functionality, efficient high heat dissipation, miniaturisation and cost reduction. This project is also in line with the Government’s National Automotive Policy ( 2020 to develop critical components within Next Generation Vehicles, mobility technology and autonomous driving.

The investment will establish fully automated machine production lines with DENSO designed manufacturing equipment and unique processing techniques that emphasize on high efficiency and high quality. The transfer of the product knowledge will also develop the local engineering skills among its workforce, through the dedicated DENSO ’s Hitozukuri (human resource development )” concept. In addition, the introduction of fully automated production lines will accelerate the moving toward Industry 4.0 technologies, such as IoT deployment, big data management and factory
automation in Malaysia.

DENSO MALAYSIA continues serving as the manufacturing and distribution hub that supplies to DENSO in Japan and other DENSO group companies a cross North America, China, Europe, and other regions. DENSO will help promote the exporting of automotive parts out of Malaysia and contribute to the growth of t he automotive industry in the country.

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About DENSO

DENSO is a US $47.6 billion global mobility supplier that develops advance technology and components for nearly every vehicle make and model on the road today. With manufacturing at its core, DENSO ’s 200 global facilities produce thermal, powertrain, mobility, electrification, and electronic systems and create jobs that impact change s in world mobility . The company’s 170,000+ employees are paving the way to a mobility future that improves lives, eliminates traffic accidents and preserves the environment. Globally headquartered in Kariya, Japan, DENSO spent 9.9 percent of its global consolidated sales on research and development (R& in the fiscal year ending March 31, 2020. For more information about global DENSO, visit https://www.DENSO.com/global

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.

Media contacts:
MIDA:
Manjit Kaur Balkar Singh (Ms)
Email: [email protected] | Tel.: 603 2267 3509

DENSO
DENSO CORPORATION
Email: [email protected] | Tel.: 81 566 55 9752

DENSO Embarks on RM160 Million Advanced Semiconductor Production in Malaysia

Kuala Lumpur, 22 February 2021 – The Malaysian Investment Development Authority (MIDA) is partnering with CETIM (the French leading Technical Centre for Mechanical Industry), through a Memorandum of Understanding (MOU) to encourage, promote and facilitate cooperation in the niche engineering and manufacturing technology including in emerging fields such as Smart Manufacturing, Industry 4.0 and Circular Economy.

The MOU highlights the collaboration between MIDA and CETIM to further strengthen Malaysia’s technological ecosystem by attracting quality investments. Both parties will undertake joint initiatives such as applied research activities, training and attachment programmes; exchange technical information and expertise in the research and development of industrial technology; as well as facilitate collaboration with local higher learning institutes and research organisations in the field of industrial development.

In welcoming CETIM to consider setting up its Asia Pacific office here in Malaysia as their Regional Centre, Dato’ Azman Mahmud, Chief Executive Officer (CEO) of MIDA, iterated that this MOU is a direct reflection of the MIDA’s on-going initiative to enhance Malaysia’s technological landscape in line with the national Industry 4.0 agenda.
“MIDA has always been a conduit between entities such as CETIM, industry players and academia to create effective new collaborations in line with Malaysia’s investment aspiration agenda to develop high value-added, capital- and knowledge-intensive industries. Especially now, given how the pandemic has changed the way we live and do business, there are unprecedented vacuum and emerging opportunities within the technological sphere for our stakeholders to tap upon. We are optimistic that this initiative with CETIM will increase technology capabilities of our industries, and lead to further investments in new and emerging fields. Innovation through strategic collaborations in R&D activities and Center of Excellence are now more crucial than ever for businesses to adapt to the new norm, while remain resilient and competitive,” said Dato’ Azman.

Mr. Daniel Richet, CEO of CETIM, is very pleased to initiate this new cooperation to support MIDA and Malaysia in its ambitious technological development programme and eager to launch, through joint industrial and R&D collaborative projects, concrete actions on 4.0 cooperation, talent development and knowledge sharing.
“As MIDA has always been looking for international cooperation with major industrial countries, and therefore looking for a prominent French technology partner, it became logic to see CETIM and MIDA being in contact since 2013, and then further explore the best ways to handle the issues and challenges in implementing Industry 4.0 in the Malaysian industrial landscape. CETIM has a long history and experience in supporting R&D, innovation and development of all companies, including SMEs in the mechanical industry, in France first, through national programmes for robotics, additive manufacturing; and then internationally. We are proud to be associated with MIDA, as Malaysia is now embarking on important priorities such as industrial automation and digitalisation,” mentioned Daniel Richet.

As the leading French player in the fields of mechanical engineering innovation and R&D, MIDA is optimistic of CETIM’s reputation and capabilities to provide comprehensive services to Malaysia’s industry and to improve companies’ competitiveness through mechanical engineering, transfer of innovations and advanced manufacturing solutions.
This will ultimately contribute to the country’s shift towards advance manufacturing, knowledge-driven, higher value-added and industry-driven research activities. It will also promote a circular economy, whereby waste and leakages are systematically phased out through careful product design and management, coupled with efficient business models. It is hoped that this will lead to a more sustainable and productive business model in line with the greater agenda of the United Nation’s Sustainable Development Goals.

As the principal investment promotion and development authority in the country, MIDA has been consistently promoting investments in R&D, including undertakings within the Industry 4.0 drivers. The agency continues to step up its efforts to drive stronger R&D linkages between the industry and, tertiary and research institutions. As to date, MIDA has approved 195 R&D projects with total investments of RM3.0 billion. These comprise of approved companies of 46 In-House R&D facility, 79 Contract R&D Companies, 30 R&D Companies, 24 R&D Status Companies as well as 16 national strategic R&D projects. These R&D have spurred innovative technologies within the industries in Malaysia through enhancing of knowledge workers as well as the transfer of technologies.The Government continues to support the R&D framework in the country through various incentives and financial assistance. MIDA, in particular, offers tax incentives to manufacturers with in-house R&D facilities or research service providers. Investment Tax Allowance (ITA) incentive is offered to entities that are approved as R&D Company,

Contract R&D Company, or In-house R&D facility; where else Contract R&D companies may also opt for Pioneer Status incentives.
To further invigorate R&D activities, the firms that receive services from R&D status companies are eligible to claim for double deductions on eligible incurred expenditure to the Inland Board Revenue (IRB). This is an effective way to promote R&D services and pitch into the R&D ecosystem as a whole. MIDA hopes for more companies to leverage upon this support to build their long-term competitiveness and sustainability.

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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 CETIM
Since 1965, CETIM, the French Technical Centre for Mechanical Industry, has been supporting innovation and competitiveness of companies thanks to its multidisciplinary skills, digital expertise and unique R&D capacity. With its international subsidiaries, its 8,000 customers in more than 50 countries, CETIM has become a world leading player to overcome environmental and Industry 4.0 main challenges with innovative solutions and services. In addition, CETIM is part of the Carnot Institute Network, under the aegis of the French government to enlarge the scope of R&D and promote partnership research with SMEs. For more information, please visit www.cetim.fr and follow us on Twitter, Facebook, LinkedIn and YouTube channel.

For media inquiries, please contact:

Ms. Manjit Kaur
E-mail: [email protected] | Phone: +603-2267 3509

Mr. Jean-Francois Atgé
E-mail : [email protected] | Phone: 012 285 7088

MIDA and CETIM Inks MOU to Strengthen Malaysia’s Manufacturing Sector Towards Advance Engineering and Technology in line with Malaysia’s Investment Aspirations

Kuala Lumpur, 22 February 2021 – Leuze electronic GmbH + Co. KG, short: Leuze, one of the world class optical sensor producers, has identified Malaysia for its first production plant in Southeast Asia. During a virtual press conference held recently in January 2021, while presenting the company’s 2020 performance and its outlook for 2021, Leuze made the official announcement of the new manufacturing plant’s opening in Malaysia. The plant is currently under rapid construction phase.

Dato’ Azman Mahmud, Chief Executive Officer (CEO) of the Malaysian Investment Development Authority (MIDA) congratulates Leuze on their significant move to Malaysia for the business expansion. This decision speaks volumes of the confidence Leuze has in Malaysia. MIDA initiated the first contact with Leuze in December 2018. Since then the Malaysian Government through MIDA has been engaging with Leuze‘s team to facilitate the project’s provisions, especially in obtaining the necessary licence approval.

Dato’ Azman reiterates, “Malaysia has a mature and diverse ecosystem for the rapid development of sensor applications in the electronics industry. The milestone of Leuze’s activities in Malaysia is definitely in line with the Government’s aspirations to transform Malaysia into a high technology and knowledge-based economy. New era of electronics is emerging globally and MIDA is in the forefront of the technologies, as Leuze will bring in frontier sensor products and new technology into the country.”

Leuze, known as the specialists in the optical sensors, will be establishing its first production facility in the ASEAN region and second in Asia, after the opening of their factory in Shenzhen, China in 2006. To cater to the high demand in Asian market, Leuze decided to expand its international production locations, also to support the company’s multi-location production strategy. The company offers an extensive line of optical electronic sensor products for electrical automation. It is active in intralogistics, packaging, tooling, automotive and lab automation. Its group has more than 1,200 employees in 21 subsidiaries in the development, production, sales and services segmentations worldwide. In addition, more than 40 distributors are actively servicing Leuze’s five (5) existing production plants and soon, the upcoming plant in Melaka, Malaysia.

According to Sebastian Raible, Director of Global Projects Operations and Project Manager of Leuze’s construction project in Malaysia, “Melaka plant will primarily produce sensors for the lucrative market in Asia. The new production site will operate as Leuze Electronic Malaysia Sdn. Bhd. and will be a 100 per cent subsidiary of Leuze Electronic GmbH + Co. KG, Germany. The plant is being constructed on a site area spanning over 17,000 square meters and the first building stage of the plant is estimated to be completed by the first quarter of 2022. Besides some minor impacts in the construction works due to the MCO, the project runs as planned and the pilings as well as the groundwork are in process at the moment. With the great support of the local authorities in Melaka, Leuze expects no further impacts on the construction project.”

He added “One reason for selecting Melaka for the new Leuze production site was because of the excellent talent pool in the region. The well-established universities in Melaka as well as the thriving electronic industry played an important role in the site selection process.”

“With a total usable floor space just below 7,000 square meters in the first expansion phase, the new Leuze plant targets a demand of 150 to 200 qualified employees”, said Jochen Wimmer, Chief Operating Officer of the Leuze Group.

“In the medium-term, Leuze is also targeting for future partnerships with the local universities. With the support of MIDA, Leuze has successfully started hiring local graduates in engineering positions, in line to provide adequate training to the young talents prior to starting the production”, explains Jochen Wimmer.

Meanwhile, Dato’ Azman also emphasised “The Government will ensure Malaysia remains as the preferred investment location with a favourable environment for quality investments. Investors from Germany such as Leuze, acknowledge and benefit from the competitive advantages the nation has despite the unprecedented pandemic. We are at the vanguard to entice more new investments in the areas of technology and innovation to position Malaysia as a manufacturing powerhouse of Asia.”

Over the past 50 years, Leuze has evolved into a high-tech company and an innovation leader in industrial automation. The family-owned company was founded in 1963 in Owen, a small town in the state of Baden-Württemberg in Southern Germany, initially developing electronic sensors for textile sector, but soon after, expanding its product portfolio into various other industries. In 2020, during the global pandemic, Leuze achieved sales of 210 million euros, compared to 222 million euros in the previous year, which records only a five (5) per cent decline. “For a corona year we can be very satisfied with this result. That is why we rate 2020 as a successful business year, despite the small minus. Moving forward, Leuze is fully committed to its growth plans for 2021 and intends to double its sales again in the next few years.” said Ulrich Balbach, the CEO of Leuze.

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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 Leuze Electronics

With curiosity and determination, the sensor people from Leuze have been forerunners for innovations and technological milestones in industrial automation for more than 50 years. They are driven by the success of their customers. The technology leader’s high-tech product range includes a number of different sensors for the field of automation technology. Among these are switching and measuring sensors, identification systems, and data transmission and image processing solutions. As a Safety Expert, Leuze is also focused on components, services and solutions for safety at work. Leuze concentrates on its core industries, in which the Sensor People have extensive, specific application know-how and many years of experience. These include intra logistics and the packaging industry, machine tools, the automotive industry as well as laboratory automation. Leuze was founded in 1963, headquartered in Owen/Teck in Southern Germany. Today there are more than 1,200 sensor people around the world who are working with determination and passion for progress and transformation to make their customers successful in a constantly changing industry. Regardless of whether in the technological competence centers or in one of the 21 sales companies, supported by more than 40 international distributors. www.leuze.com

Media contacts:

MIDA:
Manjit Kaur Balkar Singh (Ms)
Email: [email protected]
Tel.: +603 2267 3509

Leuze:
Ms. Martina Schili (Ms)
Email : [email protected]
DL: +49 7021 573-116

Malaysia is the Preferred Location for German Based Leuze Electronic to Establish Its First Optical Sensor Production Plant in Southeast Asia

Kuala Lumpur, 8 February 2021 – The recent report by The Straits Times of Singapore on 5 February 2021 regarding foreign investors fleeing Malaysia is incorrect. The piece falsely indicates that the United Nations Commission on Trade and Development (UNCTAD) report confirmed what has been spoken of anecdotally.

The UNCTAD report estimated that Global Foreign Direct Investment (FDI) flow fell by 42 per cent to an estimated USD859 billion in 2020 compared to USD1.5 trillion recorded in 2019. Almost all regions reported lower FDI in 2020 which were mainly due to the impact of lockdowns and a drastic decrease in the economic activities during the COVID-19 pandemic. The FDI flows to developing economies decreased by 12 per cent. FDI into South East Asia contracted by 31 per cent due to a decline in investments to the largest recipients in the sub-region; inflows in Singapore fell by 37 per cent, Thailand by 50 per cent, Indonesia by 24 per cent, Vietnam by 10 per cent, and followed by Malaysia by 68 per cent. Notably, the computation of FDI flows by UNCTAD is based on Balance of Payment (BOP) statistics, published by respective countries in the context of net FDI flows.

Lower net FDI inflow is not an unfavorable signal. Malaysia continues to attract high levels of gross FDI

According to the data by the Department of Statistics Malaysia (DOSM) for the period of January-September 2020, the total Gross FDI inflow into Malaysia was valued at RM108.2 billion compared to RM102.3 billion in the same period in 2019, an increase of 5.8 per cent. This is a considerable achievement given the Movement Control Order (MCO) and Recovery Movement Control Order (RMCO) in Q2 and Q3 of last year, respectively. The Gross FDI inflow is also reflective of the high levels of FDI projects approved and implemented in the economy (manufacturing, services and primary sectors) over the last few years. It is noted that the total FDI approved throughout 2018 to September 2020 was valued at RM206.02 billion.

The UNCTAD report estimated the net FDI flow into Malaysia for the whole year of 2020 totalled USD2.5 billion (approximately RM10.1 billion), a decrease of 68 per cent from the previous year’s performance. Based on the data from DOSM, Malaysia registered net FDI outflows in Q3, driven by the outflows from debt instruments amounting to RM9.35 billion in the stipulated period. This was reflected in inter-company loan extensions and scheduled loan repayments, which are typical for multinational corporations’ (MNCs) operations; as well as the trade credits granted to manufacturing firms, in line with substantial exports, especially in the electrical and electronics (E&E) sector. Notably, Q3 2020 is an exceptional period for the first time since Q4 2009. Meanwhile, equities moderated to RM13.40 billion from RM17.33 billion in January to September 2019, a decrease of 23 per cent compared to the estimated global FDI drop of 42 per cent in 2020.

The net FDI flows are determined by many factors including abnormal disruptions in the global economy which could result in larger repatriations due to loan repayments and borrowings from their HQ and affiliates overseas for the particular year. The decline in 2020 mirrors the situation Malaysia experienced in 2009 after the subprime crisis in the US. MNCs in Malaysia were repatriating higher amounts of their profits for loans repayments and retaining earnings to help their HQ and affiliates faced with financial difficulties. The same can be said for 2020 when the world was hit by the pandemic.

Net FDI flows also indicates the maturity of Malaysia’s monetary policy which allows for the repatriation of capital, interest, dividends and profits, which is a prerequisite for a trading nation such as Malaysia. This business-friendly investment policy has also strengthened Malaysia’s position as a regional and global supply chain hub. A lower net FDI is not necessarily an unfavourable sign. For example, the E&E Industry which is one of the largest FDI recipients in Malaysia recorded a trade surplus of RM134 billion or 74 per cent of Malaysia’s total trade surplus of RM185 billion in 2020. It is the backbone of the manufacturing sector in Malaysia, contributing 39 per cent to total exports and 48 per cent to total manufacturing exports, not to mention the diverse ecosystem and supply chain the industry has created. The FDI stock in Malaysia is prominently high, totalled to RM689.1 billion as at end of September 2020.

Various factors affect business decisions of foreign investors

The Straits Times article highlighted news of Korean automaker Hyundai relocating its Asia-Pacific headquarters from Malaysia to Indonesia and the closure of Panasonic solar panel plants in Malaysia, hence insinuating that Malaysia is no longer an attractive investment location for MNCs. Taking a closer look at the reasons behind these business decisions will illustrate a different truth.

The ASEAN market has been targeted by Hyundai as an alternative market to China. As such, the roles of Hyundai’s Asia Pacific regional headquarters (HQ) in Malaysia have expanded and are classified as an incomplete form of HQ due to the absence of a production plant in Malaysia. However, with Hyundai’s new manufacturing plant in Indonesia, the new Hyundai HQ is expected to be a fully-formed space with increased production and sales. The lower demand for Hyundai cars in Malaysia also contributed strongly to their relocation decision.

As for Panasonic, the Group has been established in Malaysia for more than 30 years with 22 subsidiaries operating in the country. They are engaged in various activities ranging from manufacturing, research and development (R&D), sales and marketing. The recent announcement is on the closure of one of its subsidiaries in Malaysia producing photovoltaic (PV) or solar panels. This is due to Panasonic Corporation, Japan’s decision to discontinue the production of wafers, solar cells and solar modules at its factory, both in Japan and Malaysia. This corporate decision was driven by the declining price of global solar cell market and the increase of raw material costs arising from global expansion by Chinese companies, which would require higher capital investment for Panasonic to remain resilient in the solar business. Malaysia remains the third largest manufacturer of PV-cells and modules in the world, after China and Taiwan. Malaysia currently hosts a comprehensive photovoltaic ecosystem consisting over 250 companies in upstream (wafers and cells) and downstream (inverters and system integrators) activities. Among notable companies in Malaysia include First Solar and SunPower (USA), Hanwha Q Cells (Korea), Longi, Jinko Solar and JA Solar (China). MIDA has also recently approved a major integrated solar project that will further solidify Malaysia’s role in the global PV industry. An announcement on this project will be made soon.

For the whole of 2020, nine existing foreign-owned manufacturing companies with total investments of RM394.3 million in Malaysia had implemented business rationalisation measures. These companies have either closed their business operations in Malaysia or relocated to other countries due to technology disruption that transformed their business landscape and reduction in demand for their products. This investment is a fraction of the total approved investment in the economy for the period January-September 2020.

Growth through complementarity among ASEAN countries

In addition, the recent announcement of tech companies moving into competing countries in the region does not deter Malaysia. There are various factors underlying business decisions to choose an investment destination. This includes low labour costs, large size of the domestic market as well as the availability of mineral resources. While potential investors in the automotive industry are considering setting up their assembly plants in neighbouring countries, Malaysia remains a major producer of semiconductors and sensors for cars. In fact, Malaysia is still at the forefront of the new ICE age (Internal Computed Engine – ICE) that requires semiconductors as the driver of the Electric Vehicle (EV) Industry.

Malaysia being a major supply chain hub in the region would further encourage Malaysian companies and industries to undertake investments to supply technology, products and services to this MNCs investing in ASEAN countries. The FDI inflows into neighbouring countries should not be viewed negatively as Malaysia stand to benefits from the spillover effects of these investments. Malaysia has one of the most comprehensive ecosystem in the region in the electric and electronics (E&E), Machinery and Equipment (M&E), aerospace, automotive, and medical devices industries, to name a few.

Foreign Investors Confidence in Malaysia remains high

The Straits Times also quoted the viewpoint of the head of the EU-Malaysia Chamber of Commerce and Industry (EUROCHAM) on investors’ confidence in Malaysia. It is pertinent to note that the views of the CEO of EUROCHAM may not necessarily reflect the views of all its members. The Chamber also does not represent all foreign MNCs operating in Malaysia. As part of our on-going engagements, MIDA has been working very closely with all the International Chambers in Malaysia to assist and facilitate the concerns of their members.

The total approved investment for January to September 2020 and the announcement of major projects in the year signifies the foreign and domestic investors’ confidence in Malaysia. Despite the challenging global investment environment due to COVID-19, Malaysia recorded a total of RM109.8 billion worth of approved investments in the economy (manufacturing, services and primary sectors) for the first nine months of 2020. These investments involved 2,935 projects and will create 64,701 jobs opportunities. FDIs accounted for almost 40 per cent (RM42.6 billion). The manufacturing sector attracted the largest portion of approved investments for this period, contributing more than half (59.5 per cent) or RM65.3 billion, followed by the services sector (39 per cent/RM42.8 billion), and the primary sector (1.5 per cent/RM1.7 billion). Investments approved in the manufacturing sector for the period of January to September 2020 saw an increase of 16.6 per cent compared to the corresponding period in 2019. FDI in the manufacturing sector particularly saw an increase of 3.2 per cent to RM39.4 billion. The realisation of these investments over the immediate to medium-term will provide support to economic growth in 2021 and beyond.

In 2020, Malaysia attracted a fair share of multinational corporations including Fortune 500 companies in the high-end and high-technology industries. This includes LAM Research, a US global Fortune 500 supplier of innovative wafer fabrication equipment and services to the semiconductor industry that has chosen Malaysia to expand its global footprint by establishing its advanced technology production facility; a new project by Dexcom, a US company and leader in continuous glucose monitoring system will be producing their niche offerings in Malaysia; UCT (Ultra Clean Holdings Inc), a US-based Fortune 500 company, a leading developer and supplier of critical subsystems, ultra-high purity cleaning and analytical services, will be setting up their operations primarily for the semiconductor industry; Smith+Nephew from the United Kingdom that produces high-tech medical device products including knee and hip implants; LEM, a Switzerland-based electrical measurement company that will set up its new production plant in Malaysia to meet the growing demand of its customers in the industrial and automotive sectors; MusicTribe, a US-based multinational leader for professional audio products and musical instruments, on the other hand, is leveraging Malaysia to set up an Industry 4.0-driven, fully robotised manufacturing facility in addition to their Principal Hub activities; and the most recent announcement by SK Nexilis, a Korean copper foil manufacturer producing electric vehicle batteries.

Existing MNCs also continue to undertake major reinvestments into high-end products and activities in Malaysia, illustrating Malaysia’s on-going value proposition to investors. These include Western Digital, a US Fortune 500 company and the third largest computer Hard Disk Drive (HDD), Solid State Drive (SSD) and flash memory devices manufacturer in the world, announced their additional investments in Malaysia to design, develop and manufacture media and substrates for HDD; Intel, a US Fortune 500 company will bring the latest Advanced Assembly and Test technology to Malaysia, marking a new milestone in the company’s 48-year history of investing and partnering in Malaysia; Wistron, the Taiwan-based Fortune 500 company engaged in the R&D, design, manufacture of E&E products has acquired Western Digital’s Petaling Jaya factory to undertake new business activities; Bosch, an existing German Fortune 500 company is setting up a manufacturing facility park for testing of semiconductor components and sensors; B.Braun, a German based company, expanded its global test centre for medical devices due to strong talent capability in Malaysia; Nippon Electric Glass (NEG), a leading Japanese manufacturer of specialty glass has also expanded their production capacity of glass tubing for pharmaceutical use in Malaysia given the demand for its products following the vaccine roll-out; Eppendorf, a leading German life science company that established an integrated centre for their shared services hub, covering functions such as IT, HR as well as Finance and Controlling, for the Group’s operations in the Asia Pacific, Middle East and Africa; TF AMD, a joint venture between Advanced Micro Devices (AMD USA) and Nantong Fujitsu Microelectronics Co Ltd (Nantong Fujitsu) is expanding and offers Outsource Semiconductor Assembly and Test (OSAT) services and servicing front-end semiconductor manufacturing, namely Wafer Level Chip Scale Packaging; and NTT, a Japanese Fortune 500 and world’s 4th largest Telekom Company recently announced the launch of its fifth data centre in Malaysia. These reinvestments by existing companies are testaments of Malaysia’s continued success to retain and encourage high-value operations by MNCs in Malaysia.

MIDA adopts a cautiously optimistic outlook

Being located in the Asia Pacific rim and the centre of ASEAN, Malaysia remains an attractive investment destination, particularly with a favourable investment environment, including the availability of excellent infrastructure, telecommunication services, financial and banking services, supporting industries, skills and trainable workforce, as well market opportunities offered through the 16 Free Trade Agreements that Malaysia has signed. Malaysia maintained its strong position globally, ranking the second-highest in Southeast Asia and twelve (12th) out of 169 countries for trade connectivity in the DHL Global Connectedness Index (GCI) report in 2019. According to a recent joint study by KPMG and The Manufacturing Institute in the US entitled “Cost of Manufacturing Operations around the Globe”, Malaysia is ranked fourth among 17 economies in an assessment comparing the economy’s competitiveness as a manufacturing hub, which is ahead of countries in Asia such as China, Japan, Vietnam and India. Malaysia is also ranked high at 12th in the World Bank’s Doing Business 2020 and 27th in the IMD World Competitiveness 2020. The above rankings by various agencies further reinforce Malaysia’s position as a competitive and an attractive investment location.

Looking ahead, MIDA has identified 240 high-profile foreign investment projects including Fortune 500 companies in the manufacturing and services sectors, with a combined potential investment value of RM81.9 billion. These include on-going negotiations with a number of world-renowned companies from various sectors such as automotive, chemical, and advanced electronics and deep-tech to make Malaysia as high-value manufacturing and Global Supply Chain Hub as well as Services and Regional Operations hub. Supported by the rapid growth of adoption of digitisation, there are enormous opportunities for investors to explore emerging technologies such as Big Data Analytics, Cloud Computing, Artificial Intelligence and Internet of Things (IoT) to embrace new ways of doing business and create more technology collaborations. In this regard, MIDA is in negotiation with multinational companies for the establishment of Data Services. The investment on Data Services will accelerate Malaysia into the digital space that will move the country up the value chain in key economic segments, including the services sectors such as ICT, data analytics, design and development. Most of these projects are subject to Non-Disclosure Agreements (NDA), hence announcements will be made once negotiations are concluded.

Presently, MIDA has also received RM47.7 billion worth of potential investments into the country. These projects, once approved, are expected to be implemented within the year 2021 to 2022.

Despite the on-going international border closures and strict standard operating procedures (SOPs) in many countries to contain the spread of COVID-19, MIDA continues to be responsive in undertaking innovative and aggressive investment promotion initiatives to entice FDI through its established footprint of 20 overseas and 12 regional offices. MIDA actively organises various digital investment promotion programmes such as virtual webinars on local and international platforms.

The establishment of a One Stop Centre (OSC) in MIDA effective 2nd October 2020 to ease the movement of business travellers by expediting the approval of their entry into Malaysia, is a major initiative by the Malaysian Government. This Centre assumes a critical role in ensuring that Malaysia remains steady on the path of economic recovery and growth by enabling business travellers’ movement to do their business in Malaysia during the pandemic. As at 5 February 2021, a total of 5,861 Long Term and Short Term Business Travellers have been recommended for approval by the OSC. These business travellers include businessmen and technical experts who provide technical advisory services and installation commissioning of the machinery and equipment.

While inflows of FDI are crucial for the continued development of the economy, the role of domestic direct investments (DDI) is not to be underplayed, as outlined in the 11th Malaysia Plan. Domestic investments will continue to assume a leading role in the growth of the economy. Among the major strategies include creating Malaysian conglomerates by identifying potential companies to provide the necessary support; harnessing on outsourcing opportunities created by MNCs operating in Malaysia; enhancing the current incentive schemes to assist Malaysian companies to scale-up; and intensifying technology acquisition by Malaysian-owned companies. Notably, in the total investments approved for the period Jan-September 2020, DDI accounted for 61.2 per cent, or RM67.2 billion, while foreign direct investments (FDI) made up the rest.

Over the last five decades, MIDA has assumed the critical and pivotal roles in contributing significantly to Malaysia’s rapid industrial development particularly in the manufacturing and services sectors by promoting investments, both FDI and DDI. MIDA’s strategies have gone through various transformations, in-line with the changing dynamics of the global and domestic economic landscapes. Moving forward, the Government will continue to be at the forefront to entice more high-value investments in the areas of technology and innovation to position Malaysia as an alternative supply chain hub in Asia. The latest international ranking by KPMG has cemented Malaysia’s position as a competitive investment location for investors. Through policy reviews and targeted approaches, the Government will ensure that Malaysia remains as the preferred investment location with a favourable environment for quality investments in Asia

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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.

For more information, please contact:

Ms. Manjit Kaur Balkar Singh
Director, Corporate Communications Division, MIDA
Email: [email protected] | DL: +603-2267 3509

Malaysia Continues to be The Investment Destination for High-Value Manufacturing And Global Services in Asia

Kuala Lumpur, 4 February 2021 – The Malaysian Investment Development Authority (MIDA) congratulates CIMB on their recent launching of CIMB GreenBizReady, a one-stop sustainability solution for Malaysian Small and Medium Enterprises (SMEs). This is a contemporary platform to catalyse the transition of Malaysian SMEs towards the green economy. With an allocation of RM250 million, SMEs will be empowered through financial solutions and incentives such as sustainability-linked financing benefits, access to sustainability service providers, training and capacity building, certification and advisory services, and business matching with the support of industry leaders and related Government agencies.

Being the principal investment promotional partner to the business community in Malaysia, MIDA is eager to support this newly launched initiative in facilitating CIMB to bring in more investments in the green technology projects by providing the necessary assistance to the business stakeholders.

Starting from 2016 to September 2020, MIDA has approved 1,317 green technology projects of investments amounting to RM18.55 billion, apart from 63 green services companies with a total proposed operational expenditure of RM318.51 million, under the Green Technology incentives. These commendable figures indicate the potential of more substantial investment flows in green technology areas within the country.

Dato’ Azman Mahmud, Chief Executive Officer of MIDA said “The COVID-19 pandemic has compelled economies to revisit their business strategies and operations to hold business revenues while building a more sustainable future. The CIMB GreenBizReady, reflects the commitment to assume a vital role in boosting the socio-economic development and growth of the green technology sector in Malaysia. The SMEs especially, will be equipped with practical knowledge and tools to incorporate economic, environmental and social (“EES”) considerations into their businesses in helping them becoming sustainability-ready for long-term business resilience.”

“More importantly, this platform is timely launched to assist green industry players to contribute in economic recovery whilst advancing Malaysia’s green agenda and aspiration for sustainable growth, in line with the United Nation’s Sustainable Development Goals (SDG)” said Dato’ Azman.

The Government continues to prioritise green adoption to spur economic multiplier effects by extending the incentives of Green Investment Tax Allowance (GITA) for the purchase of green technology assets and Green Income Tax Exemption (GITE) for the use of green technology services and systems until 2023. These incentives which were introduced in Budget 2014, cover green technology activities in green energy, green building, green data centre, integrated waste management and supporting services activities. The GITE is also extended for companies undertaking solar leasing activity under the Net Energy Metering (NEM) scheme.

MIDA is optimistic that by encouraging more investments in green projects and services, there will be increasing demands for the overall green technology industry; spurring a more vibrant domestic economy.

The details on tax incentives for Green Industry are available in MIDA official website at https://www.mida.gov.my/forms-and-guidelines/tax-incentives-for-green-industry/. For more information about CIMB GreenBizReady, please visit https://cimb.com.my/greenbizready or email at [email protected].

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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. 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 and Facebook.

For more information, please contact:

Ms. Wan Hashimah Wan Salleh
Director, Green Technology Division
Email: [email protected] | DL: 603 2267 3540

MIDA and CIMB Cooperate in CIMB GreenBizReady – Sustainability Solution Platform for Malaysian SMEs

8 February 2018, Kuala Lumpur – “Kelantan is one of Malaysia’s vibrant destinations for investments, driven mainly in the services and agriculture sectors. Although the state is not usually associated with large scale industrial enterprises, the manufacturing sector continues to play a significant role in the overall state development, particularly in providing jobs and entrepreneurial opportunities towards increasing the living standards of people in Kelantan,” said Mr. Arham Abd. Rahman, Executive Director of Investment Promotion, Malaysian Investment Development Authority (MIDA) at MIDA Invest Series: “Unfolding States’ Business Potential” held today at its HQ. The event, third-of-its-kind, was a collaboration with the Kelantan State Economic Development Corporation (KSEDC).

As at September 2017, a total of 292 manufacturing projects have been approved in Kelantan with investments worth RM6.48 billion. Majority of these investments or 78% (RM5.04 billion) were from domestic sources, while the rest were from foreign sources. These projects have created over 38,500 job opportunities, mainly in the non-metallic mineral products, electrical & electronic products, wood and wood products, food manufacturing, machinery and equipment and basic metal products.

Notable foreign companies operating in Kelantan include CMNM Mining Group from Singapore, Esquel from Hong Kong, Manakas from Germany and Rohm Wako from Japan. These five companies have invested a total of RM1.1 billion and provided 2,872 jobs for Kelantan. While, our local players include Terang Nusa that manufactures surgical and examination gloves, Ain Medicare in the pharmaceutical industry, and Kompleks Perkayuan Kelantan that produces integrated sawn timber. These 3 local companies contributed total investments of RM336.0 million and provided 3,269 jobs for the state.

To unleash the untapped potential of Kelantan, YB Dato’ Sri Mustapa Mohamed, the Minister of International Trade and Industry (MITI) has established a Special Investment Committee in 2014, consisting of MITI, MIDA, ECERDC and State Government agencies, to further promote investments and enhance the required enablers in the state. This includes the specific development projects such as the Tok Bali Supply Base (TBSB) and Pasir Mas Halal Industrial Park (PMHP).

“MIDA has established a Task Force to facilitate and monitor the development of Tok Bali Supply Base (TBSB) and we have been actively promoting the area as a strategic oil and gas logistics hub. Today, we are pleased to see that this humble fishing port in Pasir Puteh has been transformed into a significant supply base to support offshore activities, in complementing the other supply bases in Kemaman and Labuan,” said Mr. Arham.

“MIDA is also collaborating with the ECERDC and KSEDC to attract more private investors to the Pasir Mas Halal Park (PMHP). Taking advantage of the growing demands for halal products, the Pasir Mas Halal Park concentrates on the production of high-value added additives and ingredients that has numerous applications, from food additives to raw materials for food and beverage industry. The project is expected to attract RM611 million in private investments and create more than 4,200 job opportunities by 2020,” he added.

More than 80 participants attended the event that featured Tuan Haji Mazli Zakuan bin Mohd Noor, Group Deputy Chief Executive Officer (Corporate Affairs) of KSEDC, who provided the latest development and investment opportunities available in Kelantan.

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For more information, please contact:

Mr. Ahmad Tajudin Omar

Director, Domestic Investment & Supply Chain Coordination Division, MIDA

Tel.: 03-2267 3627 | Email: [email protected]

Download:

Speech by Mr. Arham Abdul Rahman, Executive Director Investment Promotion – MIDA Invest Series Kelantan

 Slide Presentation by Kelantan State economic Development Corporation

Kelantan Attracts RM6.48 Billion Of Approved Investments As At September 2017

Norman Process Oils Malaysia Plant Sdn Bhd, a subsidiary of Orgkhim Biochemical Holding from Russia is building a USD50 million (RM200 million) facility at Tanjung Langsat, Pasir Gudang to manufacture petroleum-based extender oils used in tires, synthetic rubbers and rubber compounds

Johor Bahru, 12 February 2018 – Norman Process Oils Malaysia Plant Sdn Bhd, a subsidiary of Orgkhim Biochemical Holding from Russia is building a USD50 million (RM200 million) facility at Tanjung Langsat, Pasir Gudang to manufacture petroleum-based extender oils used in tires, synthetic rubbers and rubber compounds.

The Malaysian facility will supply markets in the Asia Pacific region with a particular focus on China as well as other established markets including Malaysia and Singapore. The 70,000 tons per annum unit will produce the company’s TDAE (treated distillate aromatic extract), TRAE (treated residual aromatic extract) and S-RAE (safe RAE, “green” analogue of traditional RAE) products.

The Groundbreaking Ceremony was attended by YB Datuk Tee Siew Kiong, Chairman of Johor State Tourism, Domestic Trade and Consumerism Committee, who represented the Chief Minister of Johor. Also present were Dato’ Azman Mahmud, Chief Executive Officer of Malaysian Investment Development Authority (MIDA), Mr. Nikolay Khodov, CEO of Orgkhim Biochemical Holding and Mr. Aleksandr Volkov, Director, Norman Process Oils Malaysia Plant.

Speaking at the event, Dato’ Azman said, “This investment does not only demonstrate your confidence in Malaysia’s long-term investment propositions, but also the thriving state of the chemical industry in the country. We are excited that upon completion of this project, Orgkhim will be the first company to produce carcinogen-free RPOs in Malaysia. It will strategically put Malaysia on the map as one of the few places in the world producing this premium specialty and eco-friendly chemical. Malaysia will certainly benefit from the sizeable patented technology transfer into the country.”

“The direct users of this specialty material, especially companies in the tire and rubber industry, will benefit much from the presence of Orgkhim here. They will be able to source for more cost-competitive raw materials and improve the quality of their output, resulting in safer and more EU compliant products that are fit for export purposes. When fully implemented, a total of 69 Malaysians will have the opportunity to work with this international company. Local vendors can also leverage on business opportunities arising from the many services required by the plant operation,” added Dato’ Azman.

Orgkhim Biochemical Holding is the top Russian and second worldwide producer of safe petroleum-based extender oils for “green” tires production around the world. Continental, Goodyear, Pirelli, Hankook and other big global tire makers have chosen Orgkhim’s NORMAN low-PCA processing oil made in the Russian town of Uren near Nizhny Novgorod area, and supplied to their production units in Europe, Africa and Asia.

“Today, we supply China and Korea and other Asian countries directly from Russia. Our volumes are growing so we will easily move production of these volumes to Malaysia,” said Orgkhim’s Head of Marketing.

According to MIDA’s record, as at September 2017, a total of 2,073 manufacturing projects in the chemical industry have been approved with investment worth RM96.5 billion. Out of the total, 59.5% (RM57.4 billion) was from foreign sources while the balance of 40.5% (RM39.1 billion) was from local sources. These projects have created a total more than 97,000 jobs for the country.

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For more information, please contact:

Ms. Doreen Yeo

Tel : +6012-2793493

Email: [email protected]

Ms. Umarani Muniandy

Director, Chemical & Advanced Materials Division, MIDA

Tel.: 03-2267 6678

Email: [email protected]

About ORGKHIM:

Russia’s ORGKHIM Biochemical Holding, a Nizhny Novgorod-based holding, plans to build a USD 50 million facility in Malaysia to manufacture petroleum-based extender oils used in tires, synthetic rubbers and rubber compounds.

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 a strong and dynamic organisation of over 700 employees. Headquartered in Kuala Lumpur Sentral, MIDA today has 12 regional and 23 overseas offices. Moving forward, MIDA continues to be the strategic partner to businesses in seizing the opportunities arising from the technology revolution of this era.

Download: 

CEO Speech at Orghkim Groundbreaking Ceremony

Orgkhim’s Johor plant to be the First Producer of Carcinogen-Free Rubber Process Oils (RPOs) in Malaysia

The East Coast Railway Line (ECRL) project, Malaysia-China Kuantan Industrial Park (MCKIP), Kuantan Port expansion and Tanjong Agas Oil & Gas and Logistic Industrial Park lend an air of optimism for the state of Pahang that sets to woo investments from both foreign and local investors into the state

23 February 2018, Kuala Lumpur – The East Coast Railway Line (ECRL) project, Malaysia-China Kuantan Industrial Park (MCKIP), Kuantan Port expansion and Tanjong Agas Oil & Gas and Logistic Industrial Park lend an air of optimism for the state of Pahang that sets to woo investments from both foreign and local investors into the state.

“These projects will be an impetus to attract more quality investments into Pahang, particularly in targeted sectors. With so much room available for new investment, expansion and diversification, we look forward to more companies taking advantage of the established ecosystem and facilities that Pahang has to offer,” said Mr. Arham Abdul Rahman, Executive Director of Investment Promotion, Malaysian Investment Development Authority (MIDA) in his welcoming remarks at the MIDA Invest Series event held this morning at MIDA Headquarters.

The ECRL project will be the game changer for industries and existing developments on the east coast region that will see the emergence of additional trade routes. The project, which is expected to be completed in 2024, will link several key east coast industrial hubs such Kertih Port, Kemaman Port and Kuantan Port directly to the west coast of the peninsular.

The MCKIP, Malaysia’s first industrial park with ‘National Park’ status will drive more investments in heavy industry as well as high end and high technology industry such as steel and non-ferrous metals; machinery and equipment manufacturing; clean technology and renewable energy; oil and gas; petrochemical; electrical and electronics as well as research and development. MCKIP will grow to become an important economic driver with the aim of creating 19,000 jobs by 2020.

The multi-cargo Kuantan port leverages on its strategic location facing the South China Sea to be expanded to include a New Deep Water Terminal (NDWT). This leading petrochemical hub port and container terminal in the east coast region will double its capacity to 52 million freight weight tonnes (FWT) and is expected to emerge as one of the fastest routes to major ports in China and Asia-Pacific markets, making MCKIP as a key investment hub in Asia Pacific.

The Tanjong Agas Oil & Gas and Logistic Industrial Park sets to become the supply base and marine services hub for modern and complete facilities for the oil and gas industry. It will help spur the economic development and attract additional investments in Malaysia’s maritime and oil and gas business sectors. The park is expected to contribute RM30 billion to the Gross National Income and create 30,000 jobs by 2020.

Mr Arham said, “Not only do these projects strengthen the state’s comprehensive ecosystem; but they also improve the production and logistical efficiency; reduce the cost of doing business, and support greater flow of trades and investments into the state. We trust that these projects will further stimulate Pahang’s economic growth and create high value jobs for its people.”

As at September 2017, a total of 698 manufacturing projects have been approved in Pahang with investment worth RM43.1 billion. Majority of these investment or 56% (RM24.0 billion) were from foreign sources, while the rest (44% or RM19.1 billion) were from domestic sources. These projects have created over 90,000 job opportunities, mainly in the petroleum products, basic metal products, chemical and chemical products, electronics and electrical products, and non-metallic mineral products. Notable companies operating in Pahang include BASF Petronas Chemical, RP Chemicals, Kinsteel Berhad, CSWind Malaysia (formerly known as Eco Tower), Straits Cement, Polyplastics Asia Pacific and Kaneka.

“Much of these successes are the direct result of the close working relationship between the federal and state Government to develop and improve the state’s standing in the country. These efforts, particularly in delivering the high-impact projects and public infrastructures, have been ongoing, big and strong,” added Mr. Arham.

MIDA Invest Series is an initiative undertaken by MIDA since early January 2018 to promote a competitive economy with equitable development among all states in Malaysia. The fourth run in this series featured a presentation by YH Dato’ Haji Ahmad Sabri bin Hussin, Deputy Chief Executive Officer, Operation of Pahang State Development Corporation on investment prospects of Pahang and its latest developments.

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For more information, please contact:

Mr. Ahmad Tajudin Omar

Director, Domestic Investment and Supply Chain Coordination Division, MIDA

Tel.: 03-2267 3627 | Email: [email protected]

Download:

Speech by Mr. Arham Abdul Rahman, Executive Director Investment Promotion – Pahang Special Briefing

Slide Presentation by PKNP

Pahang, A Big State with Big Opportunities for Investors

India continues to be one of Malaysia’s important sources of FDI, particularly in the manufacturing sector and remains to be among the top 20 investors in the country. As at September 2018, a total of 135 manufacturing projects with participation from India have been implemented. These investments, valued at RM5.5 billion have created more than 15,000 jobs for the country. Majority of these investments were in the textiles and textile products, chemical and chemical products, paper and printing, non-metallic mineral products, electronics and electrical products and basic metal products

14 Feb 2019, Kuala Lumpur – India continues to be one of Malaysia’s important sources of FDI, particularly in the manufacturing sector and remains to be among the top 20 investors in the country. As at September 2018, a total of 135 manufacturing projects with participation from India have been implemented. These investments, valued at RM5.5 billion have created more than 15,000 jobs for the country. Majority of these investments were in the textiles and textile products, chemical and chemical products, paper and printing, non-metallic mineral products, electronics and electrical products and basic metal products.

Notable Indian companies that have made Malaysia their manufacturing base include Reliance Group in textiles and textile products, RP Chemical in chemical and chemical products, Ranbaxy in pharmaceutical products and Tamco Switchgear in the electrical and electronics products industry. Indian firms have also ventured actively into the country’s services sectors. These include ICICI Bank Limited in the finance sector; Wipro, Infosys and Tata Consultancy in IT services; Sky Blue Media in the media advertising sector; and Manipal International in the education and healthcare sector.

“Despite the favourable account of Indian investments in Malaysia, MIDA believes that there is much more room for Indian investors to increase their footprints in the Malaysian economy. We have been intensifying our investment promotion efforts, which include identifying specific projects looking for foreign investors as well as leveraging on strategic partnerships with business associations. Today, we are happy to renew our partnership with the Confederation of Indian Industry (CII) through the signing of a Memorandum of Understanding (MoU). This will strengthen our engagements in providing rewarding exchanges to both our business communities, especially with CII’s 9,000 members including SMEs and MNCs in various areas,” said Dato’ Azman Mahmud, CEO of the Malaysian Investment Development Authority (MIDA).

The MoU was signed by Mr Arham Abdul Rahman, Deputy CEO of MIDA and Dr. Noushad Forbes, Chairman, International Council of CII at the MITI Tower, in conjunction with the 8^th Malaysia- India CEO Forum (MICEOF) today. Previously, MIDA has signed the MoU with CII back in 2000 and since then, both parties has undertaken many collaboration and programmes to strengthen Malaysia-India business opportunities. Among them include the CII Partnership Summit in 2014 and India-Malaysia Business Forum in 2017, as well as various networking and business matching sessions with Indian companies organised by MIDA and CII.

“As this MoU will bring a stronger commitment from both parties, I am confident that this collaboration will further drive quality investments into Malaysia in the years to come. Having CII members with experience in doing business with Malaysia will be beneficial in bringing relevant and interesting insights to other Indian investors. By working closely to achieve the deliverables contained in the MoU, MIDA and CII will indirectly contribute to the strengthening of bilateral relationship between both countries that has been growing over the past 62 years,” added the CEO of MIDA.

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For further information, please contact:

Mr. Nelson Samuel

Director, Foreign Investment Promotion, MIDA

Tel: 03-2267 3787 Email: [email protected]

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 a strong 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 CII

Confederation of Indian Industry (CII) is society registered under Societies Registration Act, 1860 and is a non-government, not-for-profit, industry-led and industry-managed organisation, playing a proactive role in India’s development process. Founded in 1895, India’s premier business association has around 9,000 members, from the private as well as public sectors, including SMEs and MNCs, and an indirect membership of over 300,000 enterprises from around 265 national and regional sectoral industry bodies. CII works to create and sustain an environment conducive to the development of India, partnering industry, Government, and civil society, through advisory and consultative processes.

Indian Investors to Capitalise on Business Opportunities in Malaysia

Negeri Sembilan continues to be one of the recipients of investments in the country despite the challenging global economic environment

21 February 2020, Kuala Lumpur – Negeri Sembilan continues to be one of the recipients of investments in the country despite the challenging global economic environment. As at June 2019, there were 901 manufacturing projects implemented in Negeri Sembilan, with total investments of RM37.2 billion. Majority of these investments were from the foreign source recording a total of RM25.3 billion or 68% while the rest were from domestic sources. These projects, which have created over 100,000 job opportunities, were mainly in the electrical and electronics (E&E) products, textiles and textile products, and rubber products industries. For January-September 2019, Negeri Sembilan attracted a total of 33 additional manufacturing projects worth RM2.6 billion.Notable companies operating in Negeri Sembilan include Samsung, On Semiconductor, Coca-Cola, Ajinomoto, Daihatsu, Safran and Kibing.

“Malaysia offers sound economic fundamentals and capabilities in providing the right mix of ingredients as a profitable destination for new companies to grow in the region. Malaysian Investment Development Authority (MIDA) also believes there is much more room for expansion or diversification for existing companies in Malaysia to reinvest, particularly in new growth areas. The Government has been persistently undertaking efforts to promote and facilitate local companies, particularly for SMEs, to scale up and accelerate their adoption of smart manufacturing and Industry 4.0 technology through various incentives and facilities. For example, the Industry4WRD Intervention Fund, managed by MIDA, is a good financial support facility for Malaysian SMEs in the manufacturing and related services sectors to embrace Industry 4.0. The fund is provided on a matching basis (70:30), based on eligible expenditures, up to a maximum grant of RM500,000.00. Approved companies will receive upfront, a maximum of 30% of the matching amount,” said Mr. Arham Abdul Rahman at the Invest Series Briefing: Unfolding States’ Business Potential organised by MIDA.

Mr. Arham also urged local and foreign companies to participate in the Economic Accelerator Projects (EAPs) along the East Coast Rail Link (ECRL) corridor. “The MIDA’s ECRL team is currently engaging with the respective states and interested parties to inform and promote the EAPs. With the inflows of Foreign Direct Investment (FDI) and Domestic Investment (DI) and potential growth for industrial, commercial and tourism sectors, the railway will contribute towards bridging the development gap between the east and west coasts of Peninsular Malaysia,” added Mr. Arham.

“The State Government would like to encourage more investors to invest in the Negeri Sembilan’s new growth area, namely the Malaysia Vision Valley (MVV 2.0). Spanning 153,411 hectares covering districts of Seremban and Port Dickson, the area has been earmarked to be the extension to the Greater Kuala Lumpur conurbation. Located at the south of the Klang Valley, MVV 2.0 is the natural destination and sponge for the spillover impacts of the Klang Valley where developments thrive,” said YB Dato’ Dr. Mohamed Rafie bin Abd. Malek, Exco Investment, Entrepreneurship, Education and Human Capital Negeri Sembilan during his briefing on the business opportunities and facilities available in Negeri Sembilan.

YB Dato’ Dr. Mohamed Rafie added that, “The investment in MVV 2.0 need to be in line with the four economic clusters highlighted in the Comprehensive Development Plan (CDP) of MVV 2.0. Through the MVV Secretariat, the state Government will facilitate the whole process with end to end handholding exercise in ensuring the smooth sailing of the investment realisation in the area.”

Today’s Invest Series briefing on Negeri Sembilan organised by MIDA has successfully attracted over 200 participants ranging from business chambers, associations and embassies as well as industry players from the services and manufacturing sectors. Since early 2019, MIDA has featured Selangor, Perlis, Kedah, Kelantan, Pahang, Terengganu, Sabah, Sarawak and Pulau Pinang in its Invest Series programmes.

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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 a strong 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, @OfficialMIDA.

For more information, please contact:

Mr. Nazuki Abdullah

Director

Domestic Investment & Supply Chain Division, MIDA

Tel.: 03-2267 3744

Email: [email protected]

Download:

Speech by DCEOI of MIDA: Invest Series Negeri Sembilan

NSIC Slides MIDA Invest Series Negeri Sembilan

Posted on : 21 February 2020

Manufacturing Projects Implemented In Negeri Sembilan Created Over 100,000 Jobs to the State

​The National Committee on Investment (NCI), co-chaired by YB Datuk Darell Leiking, Minister of the International Trade and Industry (MITI) and YB Tuan Lim Guan Eng, Minister of Finance (MOF) kick-started the year 2020 with five approved manufacturing and services projects worth RM4.6 billion on 30 January 2020. These projects will be located in Pulau Pinang, Kedah, and Pahang

The National Committee on Investment (NCI), co-chaired by YB Datuk Darell Leiking, Minister of the International Trade and Industry (MITI) and YB Tuan Lim Guan Eng, Minister of Finance (MOF) kick-started the year 2020 with five approved manufacturing and services projects worth RM4.6 billion on 30 January 2020. These projects will be located in Pulau Pinang, Kedah, and Pahang.

These approved investments were in the electrical and electronics, machinery and equipment, and automotive industries. Upon realisation, these projects will add over 6,000 job opportunities for the country. The majority of these investments came from foreign sources, which contributed 97.3% of the total investments. These investments are from Singapore, Hong Kong and the United States of America (USA).

The remaining approved investment was from a Malaysian Integrated Circuit (IC) Design company. This high value-added project involves IC design for application-specific integrated circuit (ASIC) products for Artificial Intelligence (AI) deep learning and high-performance computing.

“Foreign investors remain active in Malaysia’s manufacturing and services sectors. The investment spending, private consumption and trade will keep the nation’s growth on track. To enhance the attractiveness of Malaysia as a preferred investment destination, MITI and all its agencies will continue to be proactive to accommodate the needs of stakeholders in creating sustainable prosperity for the rakyat,” said YB Datuk Darell Leiking.

The announcement of Malaysia’s investment performance in the manufacturing, services and primary sectors for the whole year of 2019 will be made at the Malaysian Investment Development Authority (MIDA) headquarters on 3 March 2020.

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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. 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 and Facebook.

For media queries, please contact:

Ms Zalina Zainol

Director, Corporate Communications Division

03-2263 2437| [email protected]

Posted on : 07 February 2020

Malaysia Kick Starts 2020 with RM4.6 Billion Of Approved Investments

Lam Research Corporation (Nasdaq: LRCX), in collaboration with the Malaysian Investment Development Authority (MIDA) today announced that Lam has selected Batu Kawan Industrial Park in Penang, Malaysia as the location for a new advanced technology production facility

KUALA LUMPUR, February 4, 2020 – Lam Research Corporation (Nasdaq: LRCX), in collaboration with the Malaysian Investment Development Authority (MIDA) today announced that Lam has selected Batu Kawan Industrial Park in Penang, Malaysia as the location for a new advanced technology production facility.

“MITI and MIDA have been hard at work to entice more quality investments globally, particularly in the areas of technology and innovation to propel Malaysia to greater heights. This project, in particular, will ultimately create new opportunities for local businesses and vendors as well as high-value jobs for Malaysians.” said YB Datuk Darell Leiking, Minister of International Trade and Industry (MITI).

The new facility will be 700,000 square feet at the initial phase; with the opportunity to expand in the future. Construction is expected to begin in early 2020, with the first shipment by 2021. With the new facility, it is projected that there will be up to approximately 350 jobs added over the next three years, including roles in manufacturing, facilities and on-site shipping and receiving.

The Minister of Finance, YB Mr Lim Guan Eng, said, “The establishment of Lam Research’s new advanced technology production facility in Batu Kawan is a mark of confidence in the capacity and promise of sustainable growth of the Malaysian economy, especially in the manufacturing sector. We are confident that Malaysia’s attractive talent pool, facilitative investment environment, as well as its deep integration with the international supply chain, offers the right mix for the high-tech sectors.”

Lam’s global operations are essential to its success in quickly delivering innovative technologies to its customers worldwide. This expansion adds to Lam’s existing global production footprint with locations in the United States, South Korea, and Austria.

“We are excited to partner with the Government of Malaysia, specifically with the state of Penang, as we add to our global footprint,” said Kevin Jennings, Senior Vice President, Global Operations of Lam Research. “This facility is additive to Lam’s global operations and enables us to provide additional capacity, ensure business continuity for critical activities, and most importantly, improve our speed to solutions by being closer to customers and suppliers in the region.”

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About Lam Research

Lam Research Corporation is a global supplier of innovative wafer fabrication equipment and services to the semiconductor industry. As a trusted, collaborative partner to the world’s leading semiconductor companies, we combine superior systems engineering capability, technology leadership, and unwavering commitment to customer success to accelerate innovation through enhanced device performance. In fact, today, nearly every advanced chip is built with Lam technology. Lam Research (Nasdaq: LRCX) is a FORTUNE 500® company headquartered in Fremont, Calif., with operations around the globe. Learn more at www.lamresearch.com. (LRCX-B)

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. 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 and Facebook.

Caution Regarding Forward-Looking Statements

Statements made in this press release that are not of historical fact are forward-looking statements and are subject to the safe harbor provisions created by the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relate to, but are not limited: timing of construction and commencement of operations of the new facility, number and timing of new job opportunities, and benefits to Lam’s operations, business continuity and speed to solutions that may result from the new facility. These statements are based on current expectations and are subject to risks, uncertainties, and changes in condition, significance, value and effect, such as construction delays, regulatory requirements, risks related to recruiting and hiring, and other risks and uncertainties that are described in the documents filed or furnished by us with the Securities and Exchange Commission, including specifically our annual report on Form 10-K for the fiscal year ended June 30, 2019 and our quarterly report on Form 10-Q for the fiscal quarter ended September 29, 2019. These uncertainties and changes could materially affect the forward-looking statements and cause actual results to vary from expectations in a material way. The Company undertakes no obligation to update the information or statements made in this release.

For media queries, please contact:

Lam Research

Libra White Media Relations (510) 572-7725 [email protected]

Mr. Ram Ganesh Investor Relations (510) 572-1615  [email protected]

Malaysian Investment Development Authority (MIDA)

Mr. Jeyasigan Narayanan Nair

Director, Machinery and Metals Division

03-2267 6711| [email protected] 

Lam Research to Expand Global Footprint