Kulim, Malaysia & Mainz, Germany, 30 September 2024 – SCHOTT Glass Malaysia Sdn. Bhd. “SCHOTT”, a global leader in advanced optics and specialty materials, is proud to announce the successful completion of its state-of-the-art production facility in Kulim, Kedah. The milestone was marked by a celebratory event attended by the SCHOTT Board of Management, employees, customers, and representatives from the Malaysian Investment Development Authority (MIDA), highlighting SCHOTT’s continued growth and innovation in Southeast Asia.

The Kulim facility is expected to create approximately 400 skilled engineering and production jobs, providing valuable employment opportunities in the local economy. This new site will significantly enhance SCHOTT’s capacity to supply high-quality optical components to international high-tech industries, including Augmented Reality (AR), while complementing the existing facility in Penang, Malaysia, where SCHOTT has been producing specialty glass for consumer electronics, semiconductors, diagnostics, and other high-tech sectors for 50 years. The expansion underscores SCHOTT’s commitment to growth and innovation in the region.

“We are excited to see SCHOTT’s continued investment in Malaysia, aligning perfectly with the vision outlined in the New Industrial Master Plan (NIMP) 2030,” said Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid, CEO of MIDA. “NIMP 2030 aims to transform Malaysia into a high-income economy, and SCHOTT’s new facility in Kulim underscores the country’s appeal as a hub for high-tech industries. This expansion will not only create valuable job opportunities but also drive economic growth in innovation, technology, and entrepreneurship. With SCHOTT’s production of advanced optical components including waveguides for augmented reality, Malaysia’s leadership in AR technology is further cemented, and we’re confident this will attract more investment and talent to the region. We’re proud to have supported SCHOTT’s growth and look forward to the positive impact it will have on the local community.”

“This is a great achievement for SCHOTT,” says Dr. Andrea Frenzel, SCHOTT Board Member. “Half a century ago, SCHOTT established our first production site in Asia right here in Penang. Today, we are very thrilled to continue this journey by expanding and strengthening our presence in Malaysia.”

SCHOTT’s Advanced Optics business unit provides high-precision optical components as part of its global manufacturing network, which works with centres of excellence in Germany, North America, Switzerland, and China. As a leader in the AR market, SCHOTT offers innovative products that deliver exceptional user experiences.

The company’s first Asian production site, established in 1974, has evolved into an advanced facility employing over 1,300 skilled engineers and production workers, producing optical components and specialty materials for various high-tech applications. The new Kulim site further solidifies Malaysia’s position as a global manufacturing hub for high-end specialty glass solutions, enhancing SCHOTT’s regional capabilities and innovation in the optical components market.

– THE END –

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

About SCHOTT
International technology group SCHOTT produces high-quality components and advanced materials, including specialty glass, glass-ceramics, and polymers. Many SCHOTT products have high-tech applications that push technological boundaries, such as flexible glass in foldable smartphones, glass-ceramic mirror substrates in the world’s largest telescopes, and laser glass in nuclear fusion. With their pioneering spirit, SCHOTT’s 17,100 employees in over 30 countries work as partners to industries such as healthcare, home appliances, consumer electronics, semiconductors, optics, astronomy, energy, and aerospace. In fiscal year 2023, SCHOTT generated 2.9 billion euros in sales. In addition to innovation, one of its important corporate goals is sustainability, where it is pursuing climate neutral production by 2030. SCHOTT was founded in 1884 and is headquartered in Mainz, Germany. The company belongs to the Carl Zeiss Foundation, which uses its dividends to promote science. Further information at schott.com.

For media enquiries:

MIDA
Ms. Rozita Ibrahim
Director of Building Technology and Lifestyle Division
Email: [email protected]
Tel: +603-2267 3479

SCHOTT
Mr. Michael Müller
Head of Corporate Communications
Marketing and Communication
Email:[email protected]
Tel: +49 (0)6131 / 66-4088
M.: +49 (0)151 / 29223482

SCHOTT Celebrates Completion of New Production Facility in Kulim, Malaysia, Offering 400 Jobs

KUALA LUMPUR, 19 September 2024 – The Malaysian Investment Development Authority (MIDA) and the Malaysian Institute of Economic Research (MIER) today exchanged a Memorandum of Agreement (MOA) to establish a strategic partnership focused on enhancing Malaysia’s economic and investment climate through data-driven research, analysis, and collaboration.

The MOA was exchanged by Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid, CEO of MIDA, and Dr. Anthony Dass, Executive Director of MIER, witnessed by Tan Sri Dato’ Soh Thian Lai, Board Member of MIDA, and Tan Sri Dato’ Seri Dr. Sulaiman Mahbob, Board Member of MIER. This collaboration marks the first of its kind between MIDA and MIER, combining their respective expertise in investment promotion and economic research to promote sustainable economic growth in Malaysia.

In his opening remarks, Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid, Chief Executive Officer of MIDA, highlighted the significance of this collaboration, stating, “This landmark partnership between MIDA and MIER is a major step forward in our mission to enhance Malaysia’s economic landscape. By integrating MIDA’s extensive experience in investment facilitation with MIER’s comprehensive economic research, we are set to foster a more competitive and resilient investment environment. Our joint efforts will drive Malaysia’s economic growth by leveraging data-driven insights to attract and retain both domestic and foreign investors. This MOA aligns with our strategic objectives under the New Industrial Master Plan (NIMP) 2030 and reflects our commitment to positioning Malaysia as a premier investment destination on the global stage.”

Dr. Anthony Dass, Executive Director of MIER, echoed these sentiments and underscored the importance of a cautious yet optimistic outlook for Malaysia’s economic future in his presentation, stating “While the global economy continues to face geopolitical uncertainties and financial market turbulence, Malaysia is demonstrating resilience. With our GDP growth outpacing expectations—growing from 4.2% in Q1 2024 to 5.9% in Q2 2024 — and private consumption forecasted to rise by 5.6% in 2024, the outlook remains positive. Strong domestic demand and robust private investments with RM160 billion in approved investments in the first half of the year, show the confidence investors have in Malaysia. Our collaboration with MIDA will leverage these data-driven insights to guide investment strategies and promote sustainable growth. This partnership positions Malaysia to not only navigate global challenges but to seize emerging opportunities and enhance its global standing.”

As part of this partnership, MIDA and MIER also launched the MIDA-MIER Monthly Business Conditions Survey Report, providing key insights into Malaysia’s manufacturing sector. The survey, conducted in July 2024, reveals that the sector is expected to maintain its growth momentum, with over 70% of companies expressing optimism about current and future sales and production prospects.

This report, to be published monthly, will provide stakeholders with real-time data on key economic indicators. It will be accompanied by MIER’s Monthly Economic Review, which offers broader analysis on global and domestic economic trends, covering key markets such as the US, China, and Europe, along with forecasts on Malaysia’s economic growth and the performance of the ringgit.

The MOA sets the foundation for a strong alliance that will enhance Malaysia’s economic landscape through cutting-edge research and strategic initiatives to promote and attract investments.

-END-

About MIDA

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

About MIER

The Malaysian Institute of Economic Research (MIER) is an independent, non-profit organization established to conduct economic, financial, and business research, serving as a think-tank for both government and private sectors in Malaysia. Originating from discussions within the Prime Minister’s Economic Panel and subsequently promoted by the Council on Malaysian Invisible Trade (COMIT), MIER was formally incorporated as a company limited by guarantee on 30 December 1985, commencing operations on 2 January 1986. Governed by a Board of Trustees, MIER sets its strategic directions with guidance from an Advisory Panel, overseeing research planning. For more information, please visit  www.mier.org.my.

For more information, please contact:

MIDA
Ms. Hasfazuraina Hasbi
Director, Investment Statistics Division
Email: [email protected]
Tel.: +603-2263 2460

MIER
Dr Anthony Dass
Executive Director
Email: [email protected] / [email protected]
Tel.: 603 21425897

MIDA and MIER Forge Strategic Partnership to Strengthen Malaysia’s Investment Climate Through Research Collaboration

Kuala Lumpur, 18 September 2024 – As the world grapples with the pressing issue of climate change, Malaysia is taking a significant step towards a sustainable future. The Malaysian Investment Development Authority (MIDA) and Alliance Bank Malaysia Berhad (Alliance Bank) have successfully hosted the inaugural Carbon Border Adjustment Mechanism (CBAM) workshop, a groundbreaking event that brings together industry leaders, and an environmental expert from Riverstone Environmental Sdn. Bhd. to explore the potential of CBAM in revolutionising sustainable industrial practices.

CBAM is a carbon border tax designed to address the growing concern of carbon leakage by putting a fair price on the carbon emitted during the production of carbon-intensive goods entering European Union (EU) countries. This innovative mechanism encourages cleaner industrial production in non-EU countries, paving the way for a more sustainable future.

Datuk Bahria Mohd Tamil, the Deputy Secretary General (Investment and Management) of the Ministry of Investment, Trade and Industry (MITI), in her keynote address, stated, “MITI is actively engaging with international partners to promote a low-carbon economy. We’re working together to ensure Malaysia’s interests are represented in global climate negotiations and to facilitate trade for our exporters affected by CBAM.”

She added, “The transition to a low-carbon economy presents both challenges and opportunities for Malaysia. While it’s a new regulatory challenge, CBAM also incentivises sustainable practices and can enhance the long-term competitiveness of our businesses. With strategic planning and government support, we can navigate this transition successfully and drive innovation, improve our environmental credentials, and secure a leading position in the global market.”

While MIDA CEO, Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid highlighted in his remarks, “it’s crucial for everyone involved in the supply chain of European importers to understand the CBAM requirements thoroughly and start taking steps now to meet these new regulations. Being ahead of the curve is vital to maintaining our competitiveness in the global marketplace.”

“I would like to reaffirm MIDA’s commitment to supporting Malaysian businesses in navigating the challenges and seizing opportunities presented by CBAM. The shift towards greener practices is not just a regulatory hurdle, but a chance to innovate, to enhance efficiency, and to position Malaysian businesses at the forefront of sustainable trade,” he further added.

Approximately 75% of Malaysia’s exports to the European Union will be impacted by CBAM, albeit collectively accounting for about 8% of Malaysia’s total exports from 2021 to 2023. The new regulatory requirement will impose significant compliance costs and further drive the importance of sustainability in the global supply chain. Malaysian exporters, particularly those that are heavily reliant on exports to the EU and those that produce carbon intensive products from six groups being cement, iron & steel, aluminum, fertilizers, electricity and hydrogen will be impacted in the initial phase.

“We want to help local manufacturers and exporters build resilience and improve their competitiveness by providing them with the knowledge and guidance to prepare ahead for the implementation of this new regulation from the EU. Alliance Bank has developed a long-term relationship with the SME community, and we know that both financial and non-financial solutions are key to enable the growth of businesses. This partnership will help us reach out to more businesses, particularly local manufacturers and exporters who are most impacted by the CBAM policy, and aide them in preparing their business roadmap for it,” Alliance Bank Group Chief Strategy, Marketing and Business Development Officer, Dr. Aaron Sum.

The workshop was divided into three parts, focusing on CBAM’s impact on businesses, implementation timelines, compliance processes and strategies to navigate them. MIDA also presented the available incentives and grants to assist companies in adapting to the changes. Alliance Bank concluded the session by sharing its various green financing options, including the Sustainability Impact Programme, which offers pragmatic ESG advice and solutions to businesses transition towards more sustainable practices.

***THE END***

About Malaysian Investment Development Authority (MIDA)

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

About Alliance Bank Malaysia Berhad

Alliance Bank is dedicated to offering differentiated financial and non-financial solutions across consumer, SME, corporate, commercial, and Islamic banking sectors. Embracing its ‘The Bank For Life’ brand purpose, Alliance Bank is committed to meeting the ever-evolving needs of its customers, serving as a dependable banking partner throughout their lifetime.

With a vision of community-centric banking, Alliance Bank deeply engages with the community through an omni-channel approach. Customers can interact with Alliance Bank through an extensive network of retail branches, Privilege Banking Centres, Business Centres, and Digital banking services. The Bank aims to foster meaningful connections within the communities it operates in.

For media enquiries please contact:

MIDA
Mr. Syed Kamal Muzaffa Syed Hassan Sagaff
Director of Sustainability Division
Email: [email protected]
DL: +603-2267 3636

Alliance Bank Malaysia Berhad
Ms. Loh Wan Li
Assistant Vice President
Group Communications
Email: [email protected]
DL: 03-2604 1968

Navigating the EU’s Carbon Border Policy MIDA and Alliance Bank Host CBAM Workshop for Malaysian Businesses

Expansion Marks Company’s Fourth Facility in the Region, Boosts Capacity, and Creates 200 Jobs

TEMPE, Ariz. & KUALA LUMPUR, Malaysia, 12 September 2024 – Benchmark Electronics, Inc. (NYSE: BHE), a global provider of engineering, design, and manufacturing services, today marked a significant milestone with the grand opening of its new facility in Penang, Malaysia. This expansion, Benchmark’s fourth facility in the region, underscores the company’s commitment to growth and innovation. The new facility, spanning an impressive 8,000 sq. metres with space to further expand, significantly enhances Benchmark’s capacity and capabilities in the region. With this addition, Benchmark’s total footprint in Penang now exceeds 40,000 sq. metres. To support the ramp-up of this new facility, Benchmark will be hiring up to 200 positions.

The grand opening ceremony was attended by key customers, suppliers, local dignitaries, and community partners. The Malaysian Investment Development Authority (MIDA) assumed a pivotal role in facilitating the establishment of this new facility.

The Right Honourable Mr. Chow Kon Yeow, Chief Minister of Penang said, “With a long-standing reputation for innovation and technological excellence, Penang offers a robust industrial ecosystem that naturally attracts and retains investors. Benchmark’s expansion within the state serves as a testament to Penang’s status as a sustainable investment location. This move not only underscores Penang’s appeal to global industry leaders but also highlights the region’s capacity to support long-term growth and innovation.”

Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid, Chief Executive Officer of MIDA, expressed his enthusiasm, stating “We are proud to have partnered with Benchmark on this expansion. This development not only underscores Malaysia’s standing as a top choice for investment but also showcases the strong ecosystem we’ve built for advanced manufacturing. Benchmark’s commitment to local talent development and hiring aligns perfectly with our goals under the New Industrial Master Plan (NIMP) 2030, which focuses on empowering local talent and creating high-value jobs for Malaysians. We’re eager to see the positive impact this expansion will have on the local community — from new job opportunities to boosting the local economy. We also look forward to the groundbreaking products and solutions that Benchmark will bring to life here, which will advance Malaysia’s role in advanced manufacturing.”

“Expanding our footprint in Asia, especially in Penang where the community and government have been so supportive of Benchmark’s continued investment, aligns well with our strategic direction,” said Jeff Benck, president and CEO of Benchmark. “This facility will enhance our capabilities and capacity, enabling us to better serve our growing customers who are either already located in the region or intend to further expand their production in APAC. We’d like to thank MIDA for their support of this new investment bringing additional capabilities and innovation to the state, as well as the support of various other community partners who have helped us achieve this goal.”

This expansion was driven by the need to accommodate new and existing customer projects, many of which are slated to launch in 2025, and to vertically integrate with Benchmark’s existing Penang facilities to improve quality, efficiency and time-to-market for customer products. Benchmark is bringing key capabilities such as e-beam welding, large form factor 5-axis machining, type-2 cleaning, and is establishing one of the largest welding and frame manufacturing operations in the region.

In the first half of 2024, the machinery and equipment industry recorded an approved investment of RM2.8 billion, reflecting strong growth and continued confidence in Malaysia’s capabilities.

To learn more about the new Penang facility and Benchmark’s capabilities in the region, please visit www.bench.com.

***The End***

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

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

About Benchmark Electronics, Inc.
Benchmark provides comprehensive solutions across the entire product life cycle; leading through its innovative technology and engineering design services; leveraging its optimized global supply chain; and delivering world-class manufacturing services in the following industries: commercial aerospace, defense, advanced computing, next-generation communications, medical, complex industrials, and semiconductor capital equipment. Benchmark’s global operations include facilities in seven countries and its common shares trade on the New York Stock Exchange under the symbol BHE..

For More Information, Please Contact:

MIDA
Ms. Zakiah Sajidan,
Director, of Machinery & Metal Technology Division
E: [email protected] 
Tel.: +603-2267 6769

InvestPenang
Elaine Cheah / Arief Ferdaus
Communications & Business Intelligence
E: [email protected] /  [email protected]
Tel.: +604 6468 833

Benchmark Electronics, Inc.
Alec Robertson
Brodeur Partners on behalf of Benchmark
Email: [email protected]
Mobile: 585-281-6399

Benchmark Celebrates Grand Opening of New Facility In Penang

Penang, 10 September 2024 — ELNA PCB(M) SDN. BHD., a global supplier of printed circuit board (PCBs) and a subsidiary of Global Brands Manufacture under the PSA Group, today announced the opening of its second state-of-the-art plant in Penang, Malaysia. Representing an investment exceeding RM1 billion, the five-story PCB manufacturing facility is located adjacent to ELNA’s existing plant and is dedicated to producing high-quality advanced PCB.

The inauguration ceremony was graced by YB Chow Kon Yeow, Chief Minister of Penang; Dato’ Loo Lee Lian, CEO of InvestPenang; Mr. Muhammad Ghaddaffi Sardar Mohamed, Director of the Malaysian Investment Development Authority (MIDA) Penang; and Mr. Hsu Shang Chih, President of the Penang Standing Committee of Taiwan Chamber of Commerce and Industry in Malaysia.

YB Chow Kon Yeow, Penang Chief Minister, stated that, “The completion of ELNA’s new plant marks not only a significant milestone for ELNA but also for Penang, as we continue to strengthen our position as a global leader in the electronic manufacturing sector. The construction of this second PCB plant in Malaysia will not only expand production capacity but also transfer advanced manufacturing technology, foster local expertise in cutting-edge PCB technology, and create over 1,000 additional jobs.”

YB Senator Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz, Minister of Investment, Trade and Industry (MITI) said, “ELNA’s significant RM1-billion investment expansion is a clear vote of confidence in Malaysia’s policies to fostering innovation and growth in the semiconductor industry. This expansion is well-aligned to our New Industrial Master Plan (NIMP) 2030 and the National Semiconductor Strategy (NSS), both of which aim to strengthen the industry’s value chain from chip design to wafer fabrication, assembly, and testing. ELNA’s expanded investments in Malaysia is poised to be a catalyst for further industry growth and investment, and we are fully committed to providing the required support for their continued success.”

Echoing the sentiments, Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid, Chief Executive Officer of MIDA, said, “We are delighted to witness ELNA’s substantial expansion in Penang, which signifies a strong vote of confidence in Malaysia’s position as a key hub for advanced electronics and semiconductor manufacturing. ELNA’s investment aligns perfectly with our strategic initiatives to enhance the semiconductor ecosystem, from R&Dand innovation to full-scale production. MIDA is dedicated to working hand-in-hand with ELNA to drive sustainable growth, ensuring that our skilled workforce and supportive ecosystem continue to meet the evolving needs of the semiconductor industry.”

Mr. Ian Yang, President of ELNA, expressed, “The first phase of production will yield 300,000 square feet of PCBs, catering to the automotive, server, network equipment, personal computing, and consumer electronics sectors. As the demand for high-quality and advanced PCBs increase, the plant’s full production capacity is expected to reach 1 million square feet in the future. The existing facility will continue to manufacture double-sided and multi-layer PCBs, while the new plant will add advanced production capabilities to meet customers’ needs for diversified geographical manufacturing and supply chain flexibility.”

Mr. Lance Tao, President of PSA PCB Business Group, commented that “It is our honor to establish a new plant in Malaysia, the inauguration of the new ELNA plant is a significant milestone for PCB Division. PSA is committed to providing one-stop industry-leading solutions for customers worldwide, promising to deliver more diverse and high-quality products and services.”

As the world’s sixth-largest semiconductor exporter, Malaysia accounts for 13% of the global assembly, testing and packaging market. Penang, in particular, stands as a major hub for Malaysia’s semiconductor industry, boasting a well-established industrial ecosystem, a rich talent pool, and a favourable business environment. ELNA’s decision to build a new PCB plant in Penang is a strategic move that is expected to enhance the region’s electronics manufacturing supply chain.

The PSA Group continues its global expansion, with investments in Malaysia, Japan, and other locations through its subsidiaries. These include Global Brands Manufacture Technology, which is establishing EMS plants in Ipoh; Kamaya Electric, focusing on passive components; and SILITECH Technology, which is setting up innovative integrated design and manufacturing services plants in Penang and Negeri Sembilan.

– END –

About MIDA

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

About InvestPenang

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

About ELNA

PSA (Passive System Alliance) Group was founded in 1992 with the establishment of its first company, Walsin Technology. Utilizing strategies of industrial value chain integration and resource sharing, PSA Group quickly grew into an expert in electronic component services. The group comprises 10 listed companies and 5 overseas companies, including Walsin Technology (2492.TW), Prosperity Dielectrics (6173.TW), INPAQ Technology (6284.TW), SILITECH Technology (3311.TW), and Matsuo Electric (6969.T) for passive components; HannStar Board Corporation (5469.TW), Global Brands Manufacture (6191.TW), and Info-Tek Corporation (8183.TW) for PCB and EMS services; and Walton Advanced Engineering (8110.TW) for memory packaging and testing services. PSA currently has approximately 36 thousand employees, as well as more than 50 production bases worldwide located in regions such as Taiwan, China, Japan, and Malaysia. PSA has also established 17 service bases around the world to sell high-quality products, as well as to serve top-tier corporate customers internationally, aiming to provide the best one-stop solutions in the industry for customers in consumer electronics and specialized industrial applications.

ELNA joined PSA Group in 2018 and specializes in the design and manufacturing of printed circuit boards, with plants in Japan and Malaysia. Its products are widely used in automotive electronics, consumer electronics, communication devices, and industrial control systems. ELNA PCB(M) SDN. BHD., a Malaysian subsidiary under Global Brands Manufacture (6191.TW), has obtained quality management certifications including IATF 16949:2016, ISO 9001:2015, and environmental management certification ISO 14001:2015. The company is committed to pursuing quality, maintaining harmony with the environment, building strong trust with partners, and providing high-quality products.

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. Elaine Cheah
Head – Communication & Business Intelligence
Email: [email protected]
Tel.: 04 646 8833

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

PSA ELNA Inaugurates New PCB Manufacturing Facility in Penang, Representing Over RM1 Bil of Investment Expansion

• Malaysia attracted RM160.0 billion of approved investments in services (RM97.2 billion), manufacturing (RM60.1 billion), and primary sectors (RM2.7 billion). This is a 18.0% increase as compared to RM135.6 billionapproved investments in the same period last year.
• An estimated 79,187 new jobs will be created from 2,948 approved projects, a surge of 49.3% and 11.0%, respectively, year-on-year.
• Domestic Investments (DI) accounted for 53.4% or RM85.4 billion of the total approved investments, while Foreign Investments (FI) contributed 46.6% or RM74.6 billion, representing a double-digit year-on-year growth of 19.1%, and 16.7%, respectively.
• The services sector emerged as the clear frontrunner, commanding a significant share of RM97.2 billion or 60.7% of the total approved investments, an increase of 14.4% from the same period last year.
• While the manufacturing sector recorded 37.6% of the total approved investments, a significant increase by 34.1% from last year’s H1 2023.
• CIPE and MTS Index for the manufacturing sector recorded higher levels at RM1.8 million and 42.7%, respectively, compared to H1 2023. These indicate the investment projects are of higher economic complexity and churning quality jobs. 
• Top five (5) sources of FI were led by Austria (RM30.1 billion), Singapore (RM16.5 billion), The People’s Republic of China (PRC) (RM9.8 billion), The Netherlands (RM4.0 billion) and Taiwan (RM2.4 billion).
• Five (5) states that have recorded significant investment value to the total approved investments include W.P. Kuala Lumpur (RM37.6 billion), Selangor (RM35.0 billion), Kedah (RM31.9 billion), Pulau Pinang (RM13.1 billion) and Johor (RM12.9 billion).
• During this period, the National Investment Aspirations (NIA) sector contributed RM81.6 billion, which accounts for 51.0% of the total approved investments across various economic sectors.
• 76.6% of manufacturing projects approved between 2021 to June 2024 have been implemented.

Kuala Lumpur, 4 September 2024 – Malaysia has demonstrated its continued appeal to investors and resilience in the face of global economic uncertainty by attracting a substantial 18-per cent year-on-year increase in approved investments to RM160.0 billion across the services, manufacturing, and primary sectors from January to June 2024 (1H 2024).

This surge in investment is backed by a substantial 2,948 investment projects, which is expected to create a significant 79,187 new job opportunities.

Domestic Investment Leads the Way

Domestic investments (DI) have taken the lead for 1H2024, making up a significant 53.4% of the total approved investments, valued at RM85.4 billion. This is a clear sign of domestic businesses’ continued growth and confidence in the country’s economic policies.

In contrast, foreign investments (FI) accounted for 46.6% of the total approved investments, worth RM74.6 billion.

While both DI and FI play an important role in supporting Malaysia’s economy, the marked increase in DI contribution to the country’s growth is a clear indication of local businesses’ confidence, which bodes well for the country’s economic development.

Top States and Key Foreign Sources of Investments

The top five states that attracted the most investment in Malaysia are W.P. Kuala Lumpur (RM37.6 billion), Selangor (RM35.0 billion), Kedah (RM31.9 billion), Pulau Pinang (RM13.1 billion), and Johor (RM12.9 billion).

A stable MADANI Government and a robust business-friendly environment are among key value propositions for Malaysia to continuously attract foreign investments. Austria led the approved investments with RM30.1 billion, followed by Singapore RM16.5 billion, The People’s Republic of China (PRC) RM9.8 billion, the Netherlands RM4.0 billion, and Taiwan RM2.4 billion.

National Investment Aspirations (NIA) Sectors Drive Growth

It is significant to note that sectors aligned with the National Investment Aspirations (NIA) brought in RM81.6 billion, representing 51.0% of total approved investments from 562 projects, set to create 35,780 jobs. This reflects how clear efforts have been expended to attract NIA-aligned investments that enhance economic complexity, create high-value jobs, expand domestic linkages, foster new clusters, and promote inclusivity.

Under the stewardship of MITI and MIDA, 42.0% of the total approved investments, valued at RM67.2 billion from 978 approved projects, will create 35,499 new job opportunities.

YB Senator Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz, Minister of Investment, Trade and Industry (MITI), said, “Malaysia’s strong investment performance of RM160.0 billion, representing an 18.0% year-on-year increase in the first half of 2024 is a testament to our commitment to creating a pro-investment, business-friendly environment that fosters industrial transformation and economic growth. ASEAN is forecast to grow at 4.6% in 2024 and 4.7% in 2025 on solid improvement in both domestic and external demand, and Malaysia is determined to capture this growth. The 1H2024 approved investment figures reflect how investors appreciate Malaysia’s clear policies that provide a conducive landscape for companies to thrive. Driven by our robust frameworks, such as the New Industrial Master Plan 2030, the National Semiconductor Strategy and the Green Investment Strategy, more and more global businesses have begun to recognise Malaysia’s vast potential. MITI and MIDA will continue to market Malaysia’s increasing appeal as a regional manufacturing or services hub to attract high-quality investments and drive sustainable economic growth, while ensuring more business opportunities for our SMEs and higher-skilled jobs for Malaysians.”

THE SERVICES SECTOR’S RESILIENCE IN ATTRACTING INVESTMENTS

The services sector, a cornerstone of Malaysia’s economy, has not only weathered the storm but continues to thrive, underpinning the nation’s economic resilience. Its dominance in approved investments from January to June 2024, accounting for a substantial RM97.2 billion or 60.7% of the total approvals, is a testament to its enduring appeal to investors. It is expected to create 45,249 new jobs.

The growth was led by domestic investments, which made up 72.5% of the total approvals in the services sector at RM70.5 billion. This shows local businesses’ capability and strong confidence in the country’s economy. Foreign investments recorded RM26.7 billion, or 27.5% of the total, highlighting continued international interest in the sector.

The top-performing sub-sector under the services sector are:

• Information and Communications (ICT) – RM45.9 billion
• Real Estate – RM31.0 billion
• Transport Services – RM4.9 billion
• Utilities – RM4.0 billion
• Global Establishments – RM3.6 billion

Notable Ventures in the Services Sector

Notable projects contributing to the sector’s growth includes:

• Asiabina Solar Sdn. Bhd: The Malaysian company is investing RM200.4 million in a 50 MW Large Scale Solar (LSS) Project in Parit Buntar, Perak, as part of its expansion into the renewable energy sector.

• President Hotel Sdn Bhd: Part of the Pan Pacific Hotel Group, the company is investing upwards of RM150 million to upgrade and expand its portfolio of luxury accommodation in Kuala Lumpur via the simultaneous modernisation of PARKROYAL Collection Kuala Lumpur and introduction of Pan Pacific Serviced Suites Kuala Lumpur. This strategic investment aims to meet the growing demand for high-end hospitality services, underlining Kuala Lumpur’s emergence as a burgeoning location for luxury travel.
  
• NEDA Pekan Sdn. Bhd.: A RM129 million, 29.99 MW Solar Project under the New Enhanced Dispatch Arrangement (NEDA) Programme in Pekan, Pahang.

The concerted efforts and the whole-of-government approach, have fortified this sector, making it a lucrative avenue for discerning investors and business leaders.

MANUFACTURING SECTOR REMAINS THE COUNTRY’S ECONOMIC BACKBONE

Malaysia’s manufacturing sector has emerged as a bright spot in the country’s economic landscape, attracting RM60.1 billion in approved investments in the first half of 2024. This represents a significant 34.1% increase from the RM44.9 billion recorded in the same period last year, indicating a strong rebound in investor confidence.

The approved investments are spread across 519 projects, poised to generate an estimated 33,887 job opportunities with 80.0% of the jobs (27,121) reserved for Malaysians.

The majority of new jobs are in high-value fields, with 42.7% in management, professional, technical, supervisory, and skilled labour roles, indicating a focus on upskilling and reskilling the local workforce.

Foreign Investments (FI) take the lead, contributing RM47.6 billion or 79.2%, while Domestic Investments (DI) account for a respectable RM12.5 billion or 20.8%, a clear indication of the sector’s ability to attract and retain foreign capital while also nurturing domestic entrepreneurship.

The performance of approved investments in the manufacturing sector is also measured based on the five main pillars of the National Investment Aspirations (NIA), where the fifth pillar of the NIA is to enhance the development of underserved areas and communities to contribute to the socio-economic development agenda. To that end, focus has been given to six States which are Kedah, Kelantan, Perlis, Terengganu, Sabah, and Sarawak.

From January to June 2024, 49 manufacturing projects worth RM36.1 billion were approved for these states, marking a 94.4% significant increase compared to the same period last year. Kedah and Sarawak were among the top five states of approved investments in this sector. These investments are expected to create 6,066 new jobs.

The electrical and electronics (E&E) is the major industry underpinning Malaysia’s manufacturing economic growth with approved investments of RM36.9 billion. Malaysia is stepping up efforts to set standards with comprehensive business solutions spanning R&D, manufacturing, supply chain management, logistics, and even global HQ functions.

From the total of approved investments in the E&E industry, more than 90% is for the semiconductor subsector, supporting the National Semiconductor Strategy (NSS) agenda, which aims for at least RM500 billion in investments during the first phase of the plan.

The continued investments in the E&E industry further reflects Malaysia’s competitive advantage in this segment, based on Malaysia’s strong ecosystem and a track record built over the past 50 years.

Other key industries contributing to the performance of the manufacturing sector include:

• Transport Equipment: RM4.7 billion
• Non-Metallic Mineral Products: RM3.6 billion
• Chemicals and Chemical Products: RM3.1 billion
• Machinery and Equipment: RM2.8 billion

Notable Projects in the Manufacturing Sector

Notable projects in the manufacturing sector includes:

• Sena Diecasting Industries Sdn. Bhd.: Sena Diecasting Industries Sdn. Bhd. has established itself as the leading die casting company in the local market, with a huge presence in international market. The company is investing a substantial amount of investment to expand its capabilities in die casting, powder coating (clean room standard for high-gloss products for premium motorcycle manufacturers), and electroplating.

• Tengma Textile Sdn. Bhd.: Tengma Textile Sdn. Bhd. is set to invest RM458 million in developing and producing indigo denim as it aims to bolster its position in the textile industry. The company is also committing to advanced technology and sustainability, with green initiatives aligned with the national sustainable agenda.
  
• DELO Malaysia Sdn. Bhd.: DELO, a company specialising in industrial adhesives, is investing millions of Malaysian Ringgit to establish a new production facility in Malaysia. This project will cater to various high-tech industries, including the semiconductor, automotive, optoelectronics, and consumer electronics sectors.

PRIMARY SECTOR REFLECTS POSITIVE OPPORTUNITIES

The primary sector sees RM2.7 billion in approved investments, constituting 1.7% of the total approvals. Driven by 25 projects, it anticipates creating 51 new jobs, with a focus on mining (RM2.4 billion), and agriculture (RM0.3 billion).

Attracting High-Growth, High-Value Investments

Since beginning of the year, MITI and MIDA have executed 11 High-Level Overseas Investment Missions to key countries such as Germany, France, Australia, Italy, Singapore, India and Japan. This is in addition to the numerous official Overseas Working Visits led by the Prime Minister of Malaysia, YAB Dato’ Seri Anwar Ibrahim to meet key global business leaders.

As of 31 August 2024, MIDA is actively pursuing 1,562 proposed projects worth RM54.8 billion, comprising 1,493 projects in the services sector (RM44.8 billion) and 69 projects in the manufacturing sector (RM10.1 billion). While negotiations are ongoing between MIDA and prospect investors for high-potential leads totalling RM53.8 billion.

Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid, Chief Executive Officer of MIDA emphasised, “For the first half of 2024, we have witnessed a remarkable value of approved investments that underscore Malaysia’s commitment to inclusivity and national prosperity. These investments are not just figures on paper; they represent our dedication to creating a more equitable and thriving economy. The approvals recorded aligns with Q2’s GDP achievement of 5.9%, driven by enhanced investment activities, among others. The true measure of success lies in the implementation of these approved projects, which will drive positive macro-economic performance of the country and spill over effects across communities. MITI and MIDA’s focus remains on ensuring that every investment contributes to a more prosperous and inclusive future for all Malaysians, forging a path towards innovation and economic resilience, further strengthening our industrial ecosystem and domestic supply chains.”

Realised Investments for the Manufacturing Sector

From 2021 to June 2024, the National Investment Committee (NCI) approved 2,905 manufacturing projects, of which 76.6% or 2,224 projects have been implemented, including those in production, factory construction, or machinery/equipment installation. This is followed by 21.7% in the planning stage, covering projects in planning, site selection, and discussions with developers and consultants. Only 1.7% of the projects remain unimplemented.

The strategic platform of the Invest Malaysia Facilitation Centre (IMFC) at MIDA is instrumental in keeping track and following through approval processes for investment projects by cutting through red tape, while offering indispensable consultation and advisory services. Meanwhile, TRACK by MIDA offers end to end facilitation services for NCI-approved projects, ensuring smooth transitions from approval to implementation. The On-Track digital system enhances this process by providing real-time project tracking, promoting transparency and accountability. These diligent steps and strategic resource allocation ensure that approved investments transition from paper to reality swiftly. These efforts are pivotal, driving local employment and propelling Malaysia’s industrial and economic landscape to new heights.

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About MIDA

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

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 

Continued Investor Confidence Sees Approved Investments Up 18% To RM160 Billion for Malaysia, Generating Over 79,000 New Jobs For 1H 2024

New York, Kuala Lumpur, 20 September 2023 – Alton Industry Ltd Group (Alton), a US-based global supplier of consumer and commercial tools, appliances, and floor care, is expanding its manufacturing and R&D base into Malaysia. The CEO of Alton Group, Mr. David Lu laid out the company’s vision to invest over RM2 billion in the next 7 years during a meeting with YB Senator Tengku Datuk Seri Utama Zafrul Aziz, Minister of Investment, Trade and Industry Malaysia (MITI) in New York City. 

The construction of the new manufacturing facility has already begun. This new investment will also serve as a global R&D centre for the company’s new technology platforms. Once completed in 2024, Alton is poised for continuous expansion to bolster production capacity and cater to the diverse and ever-growing demand of its global customer base.

Tengku Zafrul warmly welcomed Alton’s significant global expansion, along with their Phase 1 investment commitment of RM500 million, “Alton Industry Ltd Group’s decision to expand its manufacturing and R&D base in Malaysia reflects their confidence in the country’s attractiveness as an investment destination. This commitment also perfectly aligns with the key targets of Malaysia’s recently launched New Industrial Master Plan 2030 (NIMP 2030), including the creation of an investment-friendly environment and the rapid embrace of technology to elevate our manufacturing sector’s tech ecosystem. It firmly establishes Malaysia as a global technology and innovation hub, underscored by new inventions and deeper collaborations between Alton and Malaysian SME industry players. We warmly welcome Alton’s investment and its potential for higher-paying, quality employment opportunities, particularly for Malaysians.”

Datuk Wira Arham Abdul Rahman, CEO of the Malaysian Investment Development Authority (MIDA) said “We are excited with Alton’s commitment to Malaysia, recognizing that their enduring presence in our nation will serve as a catalyst for fostering mutually beneficial collaborations with domestic industry players, particularly in the area of high value, high growth activities. As Alton established its roots in Malaysia, we anticipate it evolving into a pivotal industry partner for our country, contributing significantly to our economic growth and development. With this new partnership between MIDA and Alton, we stand ready to provide the necessary support to Alton, ensuring the seamless execution of their investment project in the country.”

Alton’s President and CEO, David Lu commented, “Alton is proud to expand its global footprint and to develop its operations in Malaysia with the planned opening of our new manufacturing facility in Johor Bahru. This new facility will enable us to support our global customers in all sectors we currently do business in and allows expand to other markets quickly. The incentives from federal, state and local governments we have in addition to the support of infrastructure make this a good investment for Alton.”

Alton produces a diverse range of commercial and consumer tools, hardware and equipment along with home appliances and floor care markets. Alton does business in over 75 different countries with offices in China, Japan, Hong Kong, Europe and the United States of America (USA).

*****

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, Tik Tok and YouTube.

About Alton

Alton is one of the world’s leading suppliers of tools and power equipment. With operations spanning three continents, Alton delivers Innovative Solutions for Everyday Tasks for retailer, brands and consumers. It has over 25 years of leadership and experience in the development, manufacturing and distribution of high quality and performance driven products. For more information on Alton and the products and services we provide please visit www.altoncorporate.com or at our Linked In at www.linkedin.com/company/altoncorporate/

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

Alton
Ms. Aimee Pachecco
Marketing
Alton Industry Ltd Group
Email: [email protected] Tel.: +1 (630)-389-1030

Alton To Invest RM2 Billion on State-Of-The-Art Facility, Expanding Footprint In Malaysia

Over 10,000 High-Impact Jobs to be in the Manufacturing Sector

• Malaysia attracted RM132.6 billion (USD28.4 billion) of approved investments in services (RM82.4 billion or USD17.6 billion), manufacturing (RM44.9 billion or USD9.6 billion), and primary sectors (RM5.3 billion or USD1.2 billion).
• Domestic Direct Investment (DDI) accounted for a substantial 52.2% or RM69.3 billion (USD14.8 billion) of the total approved investments, a commendable 58.2% increase year-on-year, while Foreign Direct Investment (FDI) contributed 47.8% or RM63.3 billion (USD13.6 billion).
• Out of the RM69.3 billion, the services sector emerged as the clear frontrunner, commanding a significant share of RM54.5 billion (USD11.7 billion) in DDI.
• Top five (5) sources of FDI led by Singapore (RM13.7 billion) (USD2.9 billion), Japan RM9.1 billion (USD2.0 billion), The Netherlands (RM9.0 billion) (USD1.9 billion) The People’s Republic of China (RM8.4 billion) (USD1.8 billion) and British Virgin Islands (RM7.1 billion) (USD1.5 billion).
• Five (5) states that have recorded significant investment value to the total approved investments include Wilayah Persekutuan Kuala Lumpur (RM31.7 billion) (USD6.8 billion), Selangor (RM29.7 billion) (USD6.4 billion), Kedah (RM14.6 billion) (USD3.1 billion), Johor (RM14.2 billion) (USD3.0 billion) and Sabah (RM9.0 billion) (USD1.9 billion).
• With an impressive number of 2,651 projects approved, an increment by 34.8% compared to the same period last year, the approved investments will generate 51,853 new jobs in the country.

Kuala Lumpur, 17 September 2023 – Malaysia has attracted a total of RM132.6 billion (USD28.4 billion) worth of approved investments in the services, manufacturing and primary sectors involving 2,651 projects from January to June 2023 and is expected to create 51,853 job opportunities in the country.

The investments are a vote of confidence in Malaysia’s economy and its offerings to investors, including:

1. A Government that supports and develops pro-business policies, and continuously enhances the ease of doing business in Malaysia;
2. A strategic location in Asia with strong growth potential;
3. A trusted hub for ecosystem, supply chain, capital, talent, flows of goods and data; and
4. Growing innovation capabilities.

YB Senator Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz, the Minister of Investment, Trade and Industry (MITI), said, “Despite global demand slowdown and a higher interest rate environment in key markets, Malaysia managed to attract approximately a similar amount of approved investments in 1H2023 year-on-year, reflecting confidence in the nation’s economic growth prospects. Notably, direct domestic investment increased by 58%, and represented over 52% of approved investments which, to us, is a clear vote of confidence in the MADANI Economy policies. The total approved investments are also set to create at least 50,000 jobs for Malaysians.”

“I am pleased with our achievement in 1H2023, securing RM132.6 billion, representing 60.3% of our annual target. This achievement closely mirrors our ten-year average of RM222.6 billion, emphasising our consistent efforts in attracting quality investments and driving economic growth. With stronger growth expected in the second half, I am confident we will be able to achieve our target for this year.”

“As various global supply chains shift to Asia, our key aim is to position Malaysia as a regional hub for both international companies and entrepreneurs seeking to expand their footprint in Asia. To that end, the recently unveiled New Industrial Master Plan 2023 (NIMP2023) represents a pivotal step in Malaysia’s journey toward sustainable industrial transformation and enhanced global competitiveness. NIMP2030 represents a whole-of- nation effort towards proactively integrating our SMEs into regional and global supply chains, as well as fostering improved economic cooperation with neighbouring nations. These are set to strengthen the investment ecosystem, fostering investor confidence and further edifying Malaysia’s position in the regional investment landscape,” added the MITI Minister.

Domestic Direct Investment (DDI) accounted for 52.2% of the total approved investment, or RM69.3 billion (USD14.8 billion). This is a remarkable surge of 58.2% from the same period in 2022, underscoring the competitiveness of local players. The strong performance of DDI was driven by investments in the services sector, particularly real estate and primary sector. The government’s commitment to ensuring quality housing for rakyat has been a major factor in this growth.

MITI and MIDA remain steadfast in their commitment to achieving a balanced blend of Foreign Direct Investment (FDI) and DDI. This balance is clearly demonstrated in the amount of FDI, which contributed 47.8%, or RM63.3 billion (USD13.6 billion) to the approved investments.

Singapore is the leading source of FDI with approved investments totalling RM13.7 billion (USD2.9 billion). The nation has also attracted quality investments from other countries, such as Japan (RM9.1 billion) (USD2.0 billion), The Netherlands (RM9.0 billion) (USD1.9 billion), the People’s Republic of China (PRC) (RM8.4 billion) (USD1.8 billion), and British Virgin Islands (RM7.1 billion) (USD1.5 billion).

Five states have recorded significant approved investments, namely Wilayah Persekutuan Kuala Lumpur (RM31.7 billion) (USD6.8 billion), Selangor (RM29.7 billion) (USD6.4 billion), Kedah (RM14.6 billion) (USD3.1 billion), Johor (RM14.2 billion) (USD3.0 billion), and Sabah (RM9.0 billion) (USD1.9 billion). Together, these top five states accounted for an impressive 74.9% of the total approved investments.

Malaysia’s Services Sector Led the Investment Wave with Diverse Sources

The services sector led the way in terms of investment approvals in Malaysia in the first half of 2023, with a total of RM82.4 billion (USD17.6 billion) approved, accounting for 62.1% of the total. A total of 24,747 new jobs are expected to be created in the services sector as a result of these investments.

The surge in investment in the services sector can be attributed to several factors, including Malaysia’s proactive efforts to diversify its economy beyond manufacturing, the robust growth of the digital economy, and the increasing demand for services such as logistics, healthcare, and education.

Of the total approved investments in the services sector, RM54.5 billion (USD11.6 billion) came from DDI, accounting for 66.1% of the total. The remaining 33.9% or RM27.9 billion (USD6.0 billion) were from FDI.

The real estate sub-sector was the largest recipient of investments in the services sector, with RM30.7 billion (USD6.6 billion) approved. Other major sub-sectors included information and communications (RM29.1 billion, USD6.2 billion) distributive trade (RM8.2 billion, USD6.2 billion), financial services (RM5.5 billion, USD1.2 billion), and utilities (RM3.8 billion, USD0.8 billion).

Datuk Wira Arham Abdul Rahman, CEO of MIDA stated, “Malaysia’s strong economic fundamentals and reputation for being stable, reliable and neutral allowed us to capture quality investments from diverse sources. The long-term prospects and outlook for the digital industry remains promising. Companies across a variety of industries continue to build capabilities in data, digitalisation and automation. There are also opportunities from the growing digital economy in Southeast Asia, including in fintech, cloud, cybersecurity and gaming. We anticipate a sustained demand for tech-related skills across all sectors in Malaysia.”

“Nevertheless, our journey towards the future also hinges significantly on our ability to align with global mega-trends, particularly in the context of environmental, social, and governance (ESG) practices. Implementing an ESG-based business model, especially by local SMEs, holds the potential to not only bolster competitiveness but also to amplify our presence within the global value chain, propelling the country into a future characterised by sustainable and responsible growth,” he added.

There was also a significant increase in investments in green technology, with RM1.3 billion (USD268.0 million) approved, reflecting a 21.9% year-on-year growth. These approved investments encompass diverse green technology initiatives, including renewable energy, energy conservation, waste management, green buildings, and services. This surge in green investments is poised for even further acceleration, aligning seamlessly with the objectives set forth in the National Energy Transition Roadmap (NETR).

Among the notable projects approved in the services sector, include GDS IDC Services (Malaysia) Sdn. Bhd., undertaking the establishment of a hyperscale data centre. Additionally, Seri Yakin Logistics Sdn. Bhd. is embarking on the development of a smart warehouse, inclusive of an e-fulfillment hub; and TNB Bukit Selambau Solar Dua Sdn. Bhd., advancing the renewable energy initiatives through their cutting-edge solar technology.

Malaysia’s Thriving Manufacturing Sector Performance

The manufacturing sector in Malaysia attracted a total of RM44.9 billion (USD9.6 billion) in approved investments in January to June 2023, accounting for 33.9% of the total approved investments across all sectors. This represents an increase of 2.5% from the RM43.7 billion recorded in the same period in 2022.

These investments are spread across 421 projects, set to generate an estimated 26,759 job opportunities. Of the total approved investments, RM33.9 billion (USD7.3 billion) came from FDI, with RM11.0 billion (USD2.3 billion) originating from domestic investments.

Notably, new projects accounted for RM22.9 billion (USD4.9 billion) of the total approved investments in the manufacturing sector, while RM22.0 billion (USD4.7 billion) stemmed from expansion/diversification projects. DDI was predominantly directed towards new projects, representing 59.6% of the total. FDI showed a balanced distribution between expansion/diversification and new projects, with 51.9% allocated to the former.

The majority or 58.1% of this expansion/diversification projects are in the electrical and electronic industry (E&E). The industry has taken a leading role, contributing a substantial RM10.9 billion (USD2.3 billion) to these projects. This aligns with preparations for the anticipated 2024 demand recovery, as projected by the World Semiconductor Trade Statistics (WSTS) Forecast of Global Semiconductor Sales¹.

A notable example is Texas Instruments Malaysia Sdn. Bhd., with an investment of RM7.4 billion in semiconductor devices and high-performance integrated analog circuits. Moreover, 48.1% of FDI consisted of new projects, reaffirming foreign investors’ confidence in Malaysia as a preferred investment destination.

Other top-performing industries within the manufacturing sector include machinery and equipment (RM10.5 billion) (USD2.2 billion), transport equipment (RM4.6 billion) (USD1.0 billion), non-metallic mineral products (RM4.2 billion) (USD0.9 billion), and fabricated metal products (RM3.8 billion) (USD0.8 billion).

The approved investments in the manufacturing sector is expected to create a total of 26,759 potential job opportunities. Among these, a total of 10,892 (40.7%) high-impact jobs will be for the positions in management, professional/technical, supervisory, and skilled worker categories. The remaining distribution includes 10,698 (40.0%) in machine operators and assembly workers, 1,533 (5.7%) in sales, clerical, and other roles, and 3,636 (13.6%) in general workers.

Primary Sector Reflects Positive Trend

The primary sector secured RM5.3 billion (USD1.2 billion) in approved investments, constituting 4.0% of the total across sectors for the period from January to June 2023. Comprising 42 projects, it’s poised to create 347 new jobs, primarily in the subsectors of mining as well as agriculture and commodities.

Remarkably, the primary sector’s investment performance has seen an impressive surge of 22.5% compared to the previous year. Of these investments, RM3.8 billion (71.3%) originated from domestic sources, while foreign investments contributed RM1.5 billion (28.7%). The mining subsector experienced substantial growth, increasing by RM3.0 billion (150.2%), largely driven by a prominent Malaysian Government-Linked Company (GLC) subsidiary specialising in oil and gas exploration and development activities.

Doubling Efforts in Attracting Quality Investments

As of July 2023, there are a total of 860 projects with proposed investments of RM89.9 billion (USD19.8 billion) within MIDA’s pipeline. Of this proposed investments, 812 projects are from the services sector (RM26.4 billion) (USD5.8 billion), while 48 projects are from the manufacturing sector (RM63.5 billion) (USD14.0 billion), all of which fall under MIDA’s purview. In addition, a total amount of RM163.1 billion high potential investment leads are actively being negotiated by MIDA.

These proposed investments and lead projects are driven by Malaysia’s thriving digital economy, conducive innovation ecosystem and research and development (R&D), attracting companies and creating growth opportunities.

Notably, Malaysia’s competitive prowess shines on the world stage, ranking 27th in the 2023 IMD World Competitiveness Ranking. Within ASEAN, Malaysia secures an impressive second spot as the Most Competitive Country in the 2023 IMD World Competitiveness Yearbook, underscoring its enduring appeal for businesses and investors.

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About MIDA

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

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

First Half 2023 Investments Inflow into Malaysia to Generate Over 50,000 Jobs

• Through a Collaborative Agreement, MIDA demonstrates significant support for ams OSRAM in Malaysia.
• ams OSRAM continues the already announced strong investment into the design, development, and manufacture of wafer fabrication using 8-inch microLED wafers, which is under construction at Kulim Hi-Tech Park in Kedah
• The cooperation between MIDA and ams OSRAM solidifies additional employment opportunities for Malaysians in the science and technical field for the region.
• ams OSRAM has been present in Malaysia for over 50 years, with a strong manufacturing base, research and development activities, sales and marketing functions, global business center and IT service centers.

Premstaetten, Austria and Malaysia (September 11, 2023) — ams OSRAM (SIX: AMS), a global leader in intelligent sensing and emitting, and the Malaysian Investment Development Authority (MIDA) announce mutual support for the continued investment and expansion in Malaysia. Through a Collaborative Agreement, MIDA demonstrates significant support for ams OSRAM’s initiatives in Malaysia.

In 2022 ams OSRAM announced an approximately EUR 1 Bn global investment in manufacturing and R&D facilities and activities for state-of-the-art emitting technology for LED and microLED. As a testament to their commitment to Malaysia, ams OSRAM embarked on the construction of its first state-of-the-art and fully-automated 8-inch microLED manufacturing facility in Kulim, Malaysia, making the company the world’s pioneer in this arena. This facility broke ground in 2022 and the build-out and installation is progressing as planned.

Recently, in August, high level officials from the Ministry of Investment, Trade and Industry (MITI) and MIDA visited CEO Aldo Kamper at the ams OSRAM headquarters in Premstaetten, to understand the technology development approaches and the construction progress on the first fully-automated 8-inch microLED manufacturing facility for mass production in Kulim, Malaysia. Datuk Seri Isham Ishak, Secretary General, Ministry of Investment, Trade and Industry Malaysia (MITI) and Datuk Wira Arham Abdul Rahman, Chief Executive Officer, Malaysian Investment Development Authority (MIDA) accompanied by government officials visited ams OSRAM.

The Collaborative Agreement between MIDA and ams OSRAM solidifies the investment in Malaysia and a substantial number of additional employment opportunities for Malaysians in the science and technical field for the region. It also facilitates and supports ams OSRAM to carry out innovation programs in the field of technology. With the support of MIDA, ams OSRAM will continue to closely collaborate with local public research institutes, universities, colleges, and vendor development programs to advance technologies and implement use cases for Industry 4.0.

Datuk Seri Isham Ishak, Secretary General of MITI, expressed gratitude to ams OSRAM for its vote of confidence in Malaysia, stating, “ams OSRAM’s investment stands as a testament to the excellent economic partnership between Germany and Malaysia. We deeply appreciate the trust investors place in us. Malaysia’s aspiration is to become a global hub for business, innovation, and talent in advanced manufacturing aligning with our recently launched New Industrial Master Plan (NIMP2030). Given the rapid pace of change in the electronics industry, we must continuously introduce new initiatives.  MITI and MIDA are actively targeting more wafer fabrication players and their supply chains to consider Malaysia as a viable site for production. We will continue collaborating with firms like ams OSRAM to achieve mutually beneficial outcomes.”

Echoing these sentiments, Datuk Wira Arham Abdul Rahman, CEO of MIDA, remarked, “MIDA eagerly anticipates collaborating with ams OSRAM to harness Malaysia’s capabilities as a strategic supply chain hub, catering to the global market’s industrial needs. OSRAM’s new facility aligns perfectly with the type of investment Malaysia aims to attract and anchor: highly sophisticated manufacturing at the cutting edge of technology, positioning us at critical nodes in global supply chains. ams OSRAM’s investment not only aids us in achieving economic growth and creating quality jobs but also fortifies Malaysia’s R&D ecosystem. This translates to more job opportunities for local talents, spanning engineers, managers, technicians, and researchers, benefitting Malaysians across the board. MIDA looks forward to a strengthened partnership with ams OSRAM in the years ahead.”

“Enabled by the Collaborative Agreement with MITI and MIDA and our own announced investment, we are able to continue our commitment to Malaysia, a country that offers a highly-skilled workforce, excellent technology understanding and a strong commitment to safety and environmental standards,” commented Aldo Kamper, CEO of ams OSRAM. “Together with the Malaysian authorities and the people of Malaysia, we are dedicated to continue the development of cutting-edge technology and the corresponding manufacturing processes to industrialize these technologies at scale.”

In 2022, ams OSRAM celebrated 50 years in Malaysia. Over the course of this time, the company has developed a strong manufacturing base, research and development activities, sales and marketing functions, a global business center and IT service centers.

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About MIDA

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

About ams OSRAM
 

The ams OSRAM Group (SIX: AMS) is a global leader in intelligent sensors and emitters. By adding intelligence to light and passion to innovation, we enrich people’s lives.

With over 110 years of combined history, our core is defined by imagination, deep engineering expertise and the ability to provide global industrial capacity in sensor and light technologies. We create exciting innovations that enable our customers in the automotive, industrial, and medical and consumer markets maintain their competitive edge and drive innovation that meaningfully improves the quality of life in terms of health, safety and convenience, while reducing impact on the environment.

Our around 21,000 employee’s worldwide focus on innovation across sensing, illumination and visualization to make journeys safer, medical diagnosis more accurate and daily moments in communication a richer experience. Our work creates technology for breakthrough applications, which is reflected in over 15,000 patents granted and applied. Headquartered in Premstaetten/Graz (Austria) with a co-headquarters in Munich (Germany), the group achieved over EUR 4.8 billion revenues in 2022 and is listed as ams-OSRAM AG on the SIX Swiss Exchange (ISIN: AT0000A18XM4).

Find out more about us on https://ams-osram.com

ams is a registered trademark of ams-OSRAM AG. In addition many of our products and services are registered or filed trademarks of ams OSRAM Group. All other company or product names mentioned herein may be trademarks or registered trademarks of their respective owners.

Join ams OSRAM social media channels: >Twitter  >LinkedIn  >Facebook  >YouTube

For further information:

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

Corporate Communications
Amy Flécher Hilary
Vice President
Tel: +43 664 881 62121
[email protected]
[email protected]
ams-osram.com

Media Relations
Hilary McGuinness Fernholz
Head of PR
Tel.: +49 151 27670184
[email protected]

Malaysian Investment Development Authority (MIDA) and ams OSRAM continue mutual support for advanced LED manufacturing in Malaysia

KUALA LUMPUR, MALAYSIA – 7 September 2023 – CPL Aromas, the world’s largest fragrance-only fragrance house, is delighted to announce the grand opening of its state-of-the-art production facility in Pulau Indah, Malaysia, strategically located within the Selangor Halal Hub. The ceremony was graced by the presence of distinguished guests, including officials from the Malaysian Investment Development Authority (MIDA), Halal Development Corporation (HDC), CPL Aromas’ global staff, suppliers, agents and customers.

CPL Aromas, with a global presence spanning 18 international locations and a customer base extending to over 100 countries, takes immense pride in holding the prestigious Platinum award from EcoVadis, the world’s leading provider of business sustainability ratings. This accolade firmly positions CPL Aromas among the top 1% of companies within its category, emphasising its dedication to sustainable business practices. The establishment of the new production facility reflects the company’s commitment to business sustainability, with substantial investment directed towards enhancing Production, People and the Planet.

Mr. Sivasuriyamoorthy Sundara Raja, Deputy Chief Executive Officer (DCEO) Promotion and Investment Facilitation of MIDA, stated in his opening speech, “CPL Aromas’ Perfumes Plant in Malaysia embodies the spirit of knowledge-intensive manufacturing activities that we are developing. This fully automated plant is not just a symbol of innovation in our industry; it showcases Malaysia’s commitment to embracing cutting-edge technology and becoming a hub for technological advancement in the region, aligning perfectly with the New Industrial Master Plan 2030 (NIMP2030).” He further added, “We aim for Malaysia to be Asia’s Lifestyle Lab – a location for consumer care companies to churn ideas, design, and develop solutions for consumers in Asia and beyond.”

Mr. Thomas Wan, CPL Aromas’s Regional Managing Director, highlighted, “The factory is equipped with the latest technology and top-of-the-line machines, equipment, and facilities. Fragrances produced meet the highest standards of quality and excellence. The state-of-the-art production facility design and streamlined process flow achieve high production efficiency. Automated Guided Vehicle (AGV)/Warehouse Management System (WMS) automated warehousing is installed to enhance the efficiency and safety of transport and storage of raw materials in the goods-in area.”

“Apart from the advanced production machines, the facility is commissioned to protect the environment and reduce carbon footprints with facilities such as solar panels, cold-storage insulated walls and ceilings, rainwater harvesting system, wastewater treatment plant, energy-saving heat pumps, LED lightings and Clean-In-Place (CIP) cleaning process,” Mr. Thomas Wan further added.

Construction of the new production facility was completed in August 2022, followed by machinery, equipment and facilities installation. Trial production started in early June 2023 with full-scale production slated for the year-end. With a land area of 20,000 square metres and a built-up area of about 10,500 square metres, the facility has reserved land for future expansion. Its strategic location near Port Klang enables seamless importation of raw materials and efficient exportation of finished goods to regional markets. All ingredients used and finished products are Halal-compliant, with ongoing efforts to attain ISO9001 accreditation and Halal certification, reinforcing the company’s unwavering commitment to exceptional quality and compliance.

Mr. Thomas Wan also highlighted that the production facility serves the Malaysian market while exporting to other ASEAN countries. Due to its high level of automation, the planned workforce for the facility is just about 50 people, with the majority in the semi-skilled and skilled workers categories. Priority is given to local talents for employment and intensive training will be provided to ensure their success in contributing to the company’s endeavours.

From left to right: Puan Azlina Hamdan (Director, Life Sciences & Medical Technology Division, MIDA), Mr. Nick Picthall, CPL Aromas, Chief Operating Officer, Mr. Thomas Wan, Regional Managing Director, CPL Aromas, Mr. Sivasuriyamoorthy Sundara Raja, MIDA, Deputy Chief Executive Officer (Investment Promotion and Facilitation), Mr. Chris Pickthall, CPL Aromas, Chief Executive Officer, Yang Berusaha Encik Hairol Ariffein Sahari, Chief Executive Officer, Halal Development Corporation, YBhg. Dato’ Mathialakan Chelliah, Advisor & Mr. Wong Chun Sin, Director, CPL Aromas (Malaysia) Sdn. Bhd.

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About MIDA

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

About CPL Aromas

CPL Aromas’ area of expertise is developing fragrances for Fine Fragrances, Personal Care, Fabric Care, Household Care and Air Care categories

Let’s Create Together

For further information, please contact: 

MIDA
Ms. Azlina Hamdan
Director, Life Sciences & Medical Technology Division
T: +603-2267 3791 | E: [email protected]

CPL Aromas
Mr. Kennedy Chua
General Manager, Malaysia Manufacturing
T: +603-3161 7128 I E: [email protected]

CPL AROMAS Announces the Grand Opening of its Fragrance Production Facility in Malaysia

Istanbul, Türkiye, 30 September 2022 – MIDA’s newest office in Istanbul is set to provide Malaysia and Türkiye new economic opportunities and drive the steady growth of Malaysia-Turkiye’s bilateral trade relations. MIDA Istanbul will serve as a gateway for aspiring Turkish investors who wishes to expand their businesses in Malaysia and vice-versa. Investors will be able to gain access to the latest information on investment policies and opportunities, joint venture partnerships or technological collaborations.

The launch of the MIDA Istanbul Office was officiated by the Malaysian Senior Minister and Minister of International Trade and Industry (MITI), the Honourable Dato’ Seri Mohamed Azmin Ali. Also present at the event were MITI Secretary General, Datuk Lokman Hakim Ali; MIDA Chief Executive Officer (CEO), Datuk Wira Arham Abdul Rahman; MATRADE CEO, Datuk Mustafa Abdul Aziz; Consul General of Malaysia in Istanbul, YM Tengku Mohd. Dzaraif Raja Abdul Kadir; President of Invest in Türkiye, Mr. A. Burak Dağlıoğlu and Mr. Catagay Ozden, Head of Department South Asian Countries, Ministry of Trade, Türkiye.

Many business opportunities await Turkish investors, particularly in the fields of machinery and equipment, aerospace, ICT, digital investment, food manufacturing including the Halal segment. Over the years, many factors have enabled Malaysia to attract quality investments, which include, its unmatched connectivity and business friendly policies. Furthermore, as Malaysia is centrally located within Southeast Asia, the country serves as the prime gateway for Turkish investors to penetrate the ASEAN market. Similarly, Türkiye is also strategically located at the crossroads of Europe, Central Asia, Middle East and North Africa. Malaysian companies could consider using Türkiye as a base to tap into the large European market as well as the emerging markets of Central Asia and the Middle East.

The Honourable Dato’ Seri Mohamed Azmin remarked,“The establishment of MIDA’s office in Istanbul serves two very fundamental and critical purposes. First, it plays an instrumental role as a gateway for businesses who wish to expand their commercial interests and investment horizons in Türkiye and beyond, including adjoining regions such as the Middle East and the European Union. This will be in tandem with Malaysia’s initiative in enhancing our cross border investments. Secondly, but no less significantly, this office will act as a magnet to draw greater investments from Türkiye and the region into Malaysia, and thereby leverage our position as a springboard for expansion in the ASEAN region and beyond.“

“Hence, the opening of MIDA’s office in Istanbul is most timely in order to fully exploit the potential upside for enhanced Turkish investments in manufacturing and services, particularly in the areas of advanced manufacturing, machinery and equipment, aerospace, digital investment, ICT and food manufacturing including the Halal segment. This is in tandem with our National Investment Aspirations (NIA). I would like to underscore that our growth policy also prioritises the imperative of ensuring that SMEs ride on the value and supply chain. These initiatives will also empower companies and businesses to automate their processes, and be cost-efficient in meeting industry demands while mitigating social and environmental impacts.“ added the Honourable Dato‘ Seri Mohamed Azmin.

In terms of Türkiye’s investments in Malaysia, as of June 2022, a total of 14 manufacturing projects were approved with total investments worth RM525.2 million (USD156.3 million). Among sectors of the approved manufacturing projects include scientific and measuring equipment, textiles and textiles products, chemical and chemical products, food manufacturing; and electrical and electronics products. Four manufacturing projects with Turkish investments worth RM377.93 million (USD111.6 million) have been implemented in Malaysia.

Meanwhile, MIDA CEO, Datuk Wira Arham Abdul Rahman in his welcoming speech, said, “Apart from helping MIDA to attract new investment opportunities into Malaysia, the country is looking for new collaborations to grow together and the launch of MIDA’s office in Istanbul will help us extend our outreach programmes with trading partners of Türkiye, which includes countries like Russia, Greece, Cyprus, Azerbaijan, Georgia and the 7 “Stan” countries in Central Asia. We also aspire to promote Malaysia’s culture, warm hospitality and other diverse elements of our country to new communities and societies.”

“I am confident that opening the MIDA Istanbul Office will further enhance bilateral trade between the two countries and cross-border investments between Türkiye and Malaysia. Turkish investors who are interested in seeking joint venture partnerships or technological collaborations with Malaysian businesses, can get all the necessary information from this office.” he also added.

In applauding the strategic partnership with MIDA, Mr. A. Burak Dağlıoğlu, President of Invest in Türkiye said, “Türkiye and Malaysia are regional business hubs for their respective regions. Over the years, Malaysian companies have invested approximately USD1 billion in Türkiye. These investments are mainly in energy, finance, infrastructure and transportation, retail, and healthcare. We also see investment potentials in technology entrepreneurship and Islamic finance. With the implementation of the Free Trade Agreement in August 2015, our total trade volume has doubled to USD3.5 billion in just six years. As we have an office operating in Kuala Lumpur, Malaysia, we are delighted to welcome our esteemed counterpart MIDA to open its office in Istanbul, Türkiye which will enhance our collaboration and partnership. This undoubtedly will contribute to the increase bilateral trade volume and investments between the two countries.”

Companies that have benefited greatly from the existing economic relations between Malaysia and Türkiye includes:

TUSAS (Turkish Aerospace Industries) Malaysia Sdn. Bhd. currently has 20 personnel and the numbers are expanding, which will hit 100 by the end of 2022. With its Malaysian office located in Cyberview, Cyberjaya, TUSAS aims to carry out new joint projects in the aerospace industry where the first project they started was the flight control computer for HÜRKUŞ Advanced Trainer Aircraft. TUSAS has also signed an MOU with UniKL and University of Malaya, where 10 students have already completed their internship programme at the Turkish Aerospace Headquarters at Ankara, Türkiye last summer.

“We have always been in contact with MIDA and they are helpful in every situation, and we are glad that they decided to launch an office in Istanbul, Türkiye. We are certain that this office will open new avenues for collaboration between Türkiye and Malaysia.” said Prof. Dr. Temel Kotil, President and CEO of TUSAS.

Meanwhile, Evyap Sabun Malaysia Sdn. Bhd. which was incorporated in 2011, is a wholly-owned subsidiary of Türkiye-based Evyap Group, a longstanding and well-established personal care product manufacturer with a strong market presence in Türkiye, Middle East and Commonwealth of Independent States (CIS) regions. Their vertically integrated oleochemicals manufacturing plant is located in Pasir Gudang, Johor Bahru.

“Evyap Group is continuing to undertake additional investments in Malaysia’s oleochemical and personal care industry, which includes specialty oleochemicals, oleic acid capacity expansion and crystal soap production line. We are also looking at potential additional investments in the region for which various options are currently being explored.” said Mehmed Evyap, Executive President of Evyap.

For the first half of 2022, Malaysia attracted a total of RM123.3 billion (USD28.0 billion) worth of approved investments in the manufacturing, services and primary sectors involving 1,714 projects for the period of January to June 2022 and is expected to create 57,771 job opportunities in the country. FDI remained the major contributor, at 70.9 per cent or RM87.4 billion (USD19.9 billion), while investments from domestic sources contributed 29.1 per cent amounting to RM35.9 billion (USD8.2 billion). With the newly launched MIDA Istanbul Office, Türkiye will no doubt contribute immensely to the socio-economic development and bring about new growth areas into Malaysia’s investment landscape.

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About MIDA

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

For more information, please contact:

MIDA

Mr. Faizal Jalaludin
Director, Foreign Investment Division, MIDA
E: [email protected] I T: +603 2267 6650

Ms. Meltem Şimşek
Investment Officer, MIDA Istanbul
E: [email protected] I T: + 9 0533 638 72 64

MIDA Launches Its Istanbul Office As A Gateway For Malaysia-Turkey Crossflow Investments

Penang, Malaysia – September 29, 2022 – Scandinavian IBS Sdn. Bhd. (SIBS), a Sweden-based Industrialised Building System (IBS) and one of SIBS Group’s five companies with more than 850 employees has undertaken an expansion with an additional 15 acres of land size at their new plant located in Penang Science Park, Simpang Ampat, Penang. This expansion project is anticipated to increase the production lines to approximately to four (4) more compare to the current production line and this is driven by the huge demand for SIBS production with an investment worth of RM500 million in few phases for the next five years. The project is expected to provide an additional 1,200 employment opportunities to the locals and the opportunity to deliver to more markets and product categories. The expansion project is also expected to create an additional value of RM552 million (USD120 million) in local sourcing of raw materials and components.

The Chief Minister of Penang YAB. Tuan Chow Kon Yeow said “This project will bring in investment, strengthen the socio-economy, increase job creation as well as provide opportunities for local talents to upskill. The investment will stimulate local businesses, thus contributing significantly towards the economy of Penang by maintaining and strengthening its local supply chains.” 

“I would like to congratulate SIBS on its new facility plant which is four times the capacity of the current factory. This will also create more engineering experts in Industrialised Building System (IBS) for Penang. I am glad that the company once again have chosen Penang for the IBS expansion” he added.

Datuk Wira Arham Abdul Rahman, Chief Executive Officer (CEO) of the Malaysian Investment Development Authority (MIDA) said “SIBS’ continued expansion demonstrates Malaysia’s strong economic fundamentals such as our vibrant innovation ecosystem particularly in IBS industry, as well as our reliable infrastructure and connectivity to the region and the world. The company’s presence will also encourage the growth of local companies within the IBS industry.”

“To serve investors better, MIDA has renewed its aspirations and aligned its facilitation and support services with the National Investment Aspirations (NIA) framework, which includes the elements of high value-added, high technology, knowledge and capital intensive, skills-intensive and provision of high-income jobs. MIDA will remain committed to growing the IBS industry in collaborative efforts with our strategic investors, such as SIBS. This is a key win for Malaysia in realising our aspiration to attract high-quality investments from reputable companies all around the world” added Datuk Wira Arham.

His Excellency Dr. Joachim Bergström, Ambassador of Sweden to Malaysia, said, “Sweden is a pioneer in innovation and industry. In the last few years, we’ve seen an incredible development of new methods and materials being developed within construction that are cost effective and enhances liveability and safety. SIBS is at the forefront of the development, and it brings me great joy to see that they are expanding their operations here in Penang, bringing in the leading global solutions within its field, sharing that knowledge and providing many jobs to the local community.”

“SIBS has put Malaysia on the map as the leading hub for manufacturing related construction industry. Using technology, company has revolutionised a very conservative industry. The investment is important for Malaysia not only directly but also indirectly in the thousands of jobs created in the supply chains around the country” says Erik Thomaeus, CEO of SIBS Group.

“Malaysia is devoted to technology and companies built around technical innovation, having the world’s leading ‘Construction Tech’ company in Malaysia. This is another proof of the genuine attractiveness of Malaysia as a hub for business and innovation. Our expansion in Malaysia will be divided in phases and eventually will achieve approximately RM500 million of total investment”, he added.

The manufacturing related construction sector has been playing a significant role in the aggregate economy of the country in term of its contribution to revenue generation, capital formation and employment creation which ultimately support the gross domestic product (GDP) and the socio-economic development of Malaysia.

YB. Dato’ Haji Abdul Halim bin Haji Hussain, Penang State Executive Councillor for Trade, Industry and Entrepreneur Development attended the event representing the Chief Minister of Penang. Also, in presence were His Excellency Dr. Joachim Bergström, Ambassador of Sweden to Malaysia and Ms. Najihah Abas, Executive Director Manufacturing Development (Non-Resource) from MIDA.

The Government provides both fiscal and non-fiscal incentives to the companies undertaking the manufacturing of IBS. A special incentive has been introduced for manufacturers for adopting any of the seven recognised systems which include Precast Concrete System, Formwork System, Steel Framing System, Block Work System, Timber Framing System, Innovative System and IBS Modular System/Components Modular. For the period of 2015 to June 2022, MIDA has approved a total of 95 IBS manufacturing projects, of which, 22 were related to the IBS Modular System.

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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, Tik Tok and YouTube.

About Scandinavian IBS Sdn. Bhd. 

Scandinavian IBS Sdn. Bhd. started in 2016 and the first factory was finalized in 2018. We are the manufacturer of a Sweden-based Industrialized Building Systems. We build homes, also known as prefabricated buildings, in a controlled environment to be assembled in the residential and commercial area. Our business produces residential buildings in a steel frame modular form: living room, bathroom, stairs, everything an apartment needs in a manufacturing setting. The plan from the beginning was to build a second factory after the first factory was fully established and producing at full capacity. We reached our max production capacity in the end of 2019. Hence, we launched our plan and after many years of negotiating with Penang state we purchased the second land in the beginning of 2020 for second factory. The new factory will be approximately 2 times the size of the current with 4 times the capacity. 

SIBS invest in a second factory to increase production capacity to meet the large demand from the market. We aim to present the full investment case to secure the financing of the land, construction, process machinery and increased working capital requirements. The second factory will provide an additional production capacity of around 4,000 apartments a year. When combined with the existing factory, this will increase SIBS’ total production capacity to around 5,000 apartments a year.

Intensive work has been ongoing on the building and installation of the process equipment, developed entirely by our local engineers. The factory will be operational in the third quarter of 2022 and its completion will be marked by an opening ceremony that should be attended by up to 2,000 people.

For More Information, Please Contact:

MIDA
Ms. Rozita Ibrahim, Director
Building Technology and Lifestyle Division, MIDA
Tel: 03- 2267 3479 | Email: [email protected]

SCANDINAVIAN IBS SDN. BHD.
Name: Mr. Lawrence Chua
Director
Tel: 04-506 2940 | Email: [email protected]

Scandinavian IBS Continues To Expand Its IBS Production Line In Malaysia

Kuala Lumpur, 22 September, 2022 — The Malaysian Investment Development Authority (MIDA) in collaboration with the Kedah State Government has successfully organised the Invest Series: Unfolding States ‘Business Potential’ – Kedah program today at Perdana Hall, MIDA Sentral, Kuala Lumpur. This programme was held to provide the business community with the latest updates on development and investment opportunities in the State of Kedah, as well as a platform for participants to  network with relevant State Government agencies.

A total of 300 participants were present at the event, covering various backgrounds such as captains of industry; business associations/organisations; senior managements from the manufacturing and services sectors; entrepreneurs; academicians; and government officials.

The programme began with a welcome address by Datuk Wira Arham Abdul Rahman, Chief Executive Officer (CEO) of MIDA, followed by remarks by YB. Dato’ Wira Dr. Ku Abd Rahman Ku Ismail, Senior Kedah State Executive Council (EXCO) Member (Industry & Investment, Higher Education, Science, Technology & Innovation), who addressed the Kedah State Government’s investment aspirations  based on the Kedah Development Plan 2035.

“Despite the challenging global economic environment, Kedah has been one of the top five (5) states for investment by the business community. From January to June 2022, there were 71 approved projects in Kedah with a total investment of RM9.7 billion. More than half of these investments were from foreign sources, recording a total of RM8.9 billion. These projects will be instrumental in creating over 3,209 job opportunities.” said Datuk Wira Arham Abdul Rahman, CEO of MIDA.

Datuk Wira Arham also highlighted, “While we have seen great success in the last 50 years, we are still resilient to achieve more because we aspire to discover new markets and empower communities. Like most countries around the world, Malaysia is restrategising its industrial policies to address some of the most pressing issues in socio-economics, like sustainability. As global players move towards building a sustainable and compliant business module, MIDA is aligning its strategies with the National Investment Aspirations (NIA) and environmental, social and governance (ESG) principles to attract high-value, sustainable investment projects and collaborate with partners that are focused on “impact investing.” We want to empower the local supply chain, help companies and businesses automate their processes, and be cost-efficient in meeting industry demands while mitigating social and environmental impact. FDI and DDI performance should not be seen as an opportunity to only unlock financial returns but also improve social and environmental impact as well.”

YB. Dato’ Wira Dr. Ku Abd Rahman, in his remarks said “In Kedah, all investment-related agencies work as a team with the same purpose and objective, which is to facilitate investment and attract more investments to the State of Kedah. Kedah has experienced tremendous economic transformation from agriculture based to a manufacturing based. For the manufacturing sector, Kedah is fortunate to have the Kulim Hi-Tech Park (KHTP) as a catalyst, which is already known as one of the well-established technology parks in the world. The key success of Kedah in attracting investments to the state is due to the state government’s focus on post investment activities, which prioritises taking care of investors’ needs since their first day of operation in Kedah.”

The programme then continued with a presentation by Mr. Muhamad Mahazi, CEO of Invest Kedah Berhad who presented on the ‘Introduction of Kedah and Investment Performance; Comprehensive 5PL Logistic and Digital Network in Kedah; Investment in Manufacturing and Services Sector; and Investment in Tourism and Agriculture Sector’. He also touched  on Kedah’s  upcoming infrastructure development, talent and human resource development, and current and new growth development areas.

In addition, a Business to Business (B2B) Session with the Kedah investment team was  held to provide  platform for all participants to learn more  about the current development in Kedah and the plethora of investment opportunities it has to offer. For many years, Kedah has been proven to be a prime choice for investment .

The State Government is also actively promoting an investment destination that are attractive to investors such as Bukit Kayu Hitam Halal and Logistic Centre, Bukit Selambau Industrial Area, Gurun Industrial Area, KHTP Smart SME Park, Kulim Industrial Corridor, Northern Technocity and Padang Meha Industrial Area.

In the Southern and central part of Kedah there are new growth areas such as Kulim Hi-Tech Park expansion, Development of Pulau Bunting and Kedah Aerotropolis consisting Sidam Logistics, Aerospace & Manufacturing Hub, Kulim International Airport, North Corridor Highway (NCH).

The Kedah State Government is also very committed to developing the new growth areas in the northern region of Kedah with projects such as Kedah Rubber City, Delapan Special Economic Border Zone (Delapan SBEZ) in Bukit Kayu Hitam under the Northern Gateway Sdn. Bhd., Kedah Science and Technology Park, Bukit Kayu Hitam Halal Hub and Logistic Centre under PKNK.

In the program, the Kedah investment team was represented by its investment agencies, namely Invest Kedah Berhad (IKB), Kedah State Economic Planning Division (BPEN), Northern Corridor Implementation Authority (NCIA), Kedah State Development Corporation (KSDC), Kulim Technology Park Corporation (KTPC), KXP Airportcity Holding (KXP), Northern Gateway Sdn Bhd (NGxSB).

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About MIDA

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

About Invest Kedah

Invest Kedah Berhad (IKB) is the first window or One Stop Centre to all investments into the State of Kedah. IKB entrusted to attract, facilitate and support business investments in Kedah. IKB plays the vital role of working with government agencies and local authorities to ensure a seamless set up process for local and international investors. In year 2021, IKB helps Kedah to attract investment of RM68.3 billion which is the highest in Kedah’s investment history. Invest Kedah can be contacted online at www.investkedah.com.my.

For more information, please contact: 

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

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

MIDA Collaborates with Kedah State Government to Highlight the State’s Investment Landscape and Its Potential

• The new plant is part of Mölnlycke’s sustainability strategic roadmap that is aimed at creating shared values for all stakeholders, including contributing significantly to Malaysia’s sustainability goals, such as energy usage reduction, economic growth and innovation in infrastructure.
• With the addition of the new plant in its pipeline, Mölnlycke is set to create about 400 new local jobs.
• Striving to design and supply quality medical solutions to enhance the performance of the healthcare industry, the company also has core businesses within the Wound Care, Operation Room Solutions (ORS), Gloves and Antiseptic segments.

Kulim, Kedah, 20 September 2022 – The world-leading medical product and solutions company, Mölnlycke of Sweden has just opened a new surgical glove plant in Kulim Hi-Tech Park, Kedah, with sustainable production as its backbone. With a total investment of EUR 50 million (RM233 million), the new facility is a major milestone and part of Mölnlycke’s sustainability roadmap – WeCare, to meet the healthcare manufacturing industry’s increasing demand sustainably, producing surgical gloves.

The new production site, which has a land area of 29,164 sqm and building footprint of 14,620 sqm, is fully equipped with the cutting-edge automated glove production and packaging line. With the addition of the new plant, Mölnlycke expects to create some 400 new job opportunities within the state. Mölnlycke will also increase their production capacity substantially to meet future demand on high-quality surgical gloves. 

The manufacturing plant is constructed in partnership with global sustainability solutions providers, ENGIE and Veolia Water Technologies. Veolia will be assisting in improving the plant’s wastewater management, effectively recycling water, and further improving the discharge quality. With Veolia’s digitalised system, water consumption is expected to be reduced to 50 per cent. Moreover, ENGIE will be supplying the plant with its energy source by installing solar panels to power the manufacturing production and operations. In the long run, Mölnlycke is turning its commitment to net zero Greenhouse Gas (GHG) emissions by 2050 into reality by running its operations in a less resource intensive way.

The new manufacturing plant was officiated by YAB. Dato’ Seri Haji Muhammad Sanusi Bin Md Nor, Chief Minister of Kedah, HE Dr. Joachim Bergstrom, Ambassador of Sweden and Zlatko Rihter, Chief Executive Officer (CEO) of Mölnlycke. Also present at the official launch were Dato’ Wira Dr. Ku Abd Rahman Ku Ismail, Senior State EXCO Member for Industry & Investment, Higher Education, Science, Technology & Education; Datuk Wira Arham Abdul Rahman, CEO of Malaysian Investment Development Authority (MIDA); Mohammad Haris Kader Sultan, Chief Executive (CE) of Northern Corridor Implementation Authority (NCIA) and Karl-Henrik Sundström, Chair of the Board of Mölnlycke.

In his welcoming address, YAB Dato’ Seri Haji Muhammad Sanusi bin Md Nor, Chief Minister of Kedah said, “The state of Kedah is very proud to be the host of Mölnlycke’s new state-of the art factory, and in that being recognised as a state providing the right prerequisites for sustainable production of high-quality surgical gloves, and in that enable Mölnlycke to live its vision to improve hand performance for health care professionals across the globe – because hands deserve better.”

Datuk Wira Arham Abdul Rahman, CEO of MIDA welcomed the launch of Mölnlycke’s new manufacturing facility saying, “Malaysia is very honoured that Mölnlycke, who has a long-term presence in Kedah, continues to expand in the Kulim Hi-Tech Park (KHTP). The establishment of Mölnlycke’s new production facility in Malaysia is a mark of confidence in the continuous sustainable growth of the Malaysian economy and will be a boon for Malaysia to maintain its leadership position in the glove manufacturing sector. Once implemented, the company’s state-of-the-art automated plant in Malaysia which has incorporated sustainable practices, would be exporting 100 per cent of its production for the global market, making Malaysia part of their key value chain internationally. We are committed to supporting industry leaders like Mölnlycke and we hope to see the company grow to greater heights in the years ahead.”

Mohamad Haris Kader Sultan, CE of NCIA further added, “NCIA is proud to facilitate Mölnlycke’s expansion in the medical devices sector as it will accelerate the development of high-technology and digitalisation ecosystem in KHTP, Kedah which is classified as NCER Special Promoted Area. Mölnlycke has been awarded with NCER Special Tax Stimulus Package in February 2022 and the company is committed to embark on Local Vendor Development in automation and digitalisation. Mölnlycke’s expansion on innovative and advanced products is in line with the government’s efforts to create 500 high-skilled employment opportunities in the science and technology field, for the benefit of the rakyat.”

JC Guillou, Vice President Global Operations of Mölnlycke Gloves said “We are beyond excited and thrilled about the opening of our new plant here in Kulim, Kedah. This is a significant milestone for Mölnlycke, as it is part of our transformative journey towards becoming a global leader in sustainable healthcare. We have chosen Kulim Hi-Tech Park, Kedah as the new location of our plant, as we believe the state has the right infrastructure, talent, and capabilities to meet the demands of the manufacturing industry. With the addition of this new facility in our pipeline, we are confident that we would be able to capture and capitalise on the industry’s demand, not only in Kedah or Malaysia but in the region in general.”

Dr. Joachim Bergström, Ambassador of Sweden to Malaysia, said, “Mölnlycke’s decision to continue and expand their operations here in Kulim Hi-Tech Park is a clear indicator of the successful story of Malaysian manufacturing and, in particular, here in Kedah. In return, Mölnlycke, a global leader within MedTech, will be able to increase their competitiveness on the global market. This is a story of successful cooperation, a win-win, between Mölnlycke – Kulim Hi-Tech Park, Kedah, which is also the story of our two countries. Sweden and Malaysia have a great history of producing win-wins and we will continue to do so.”

Malaysia has been actively promoting and implementing sustainable development initiatives aligning with the National Investment Aspirations (NIA) and Sustainable Development Goals (SDG) principles. In line with this, Mölnlycke through its shared value creation WeCare roadmap, aims to contribute towards Malaysia’s sustainability goals, such as energy usage reduction, wastewater management, economic growth, and innovation in infrastructure. WeCare is Mölnlycke’s sustainability roadmap for the company’s growth, innovation, and productivity drive.

With sustainability being a key aspect of the company’s strategic focus area, Mölnlycke endeavours to build a sustainable healthcare manufacturing ecosystem that would effectively meet the industry’s demand for high-quality surgical gloves, with minimum environmental impact.

Malaysia is core to Mölnlycke’s surgical gloves business. To date, the company has three other additional factories based in the country, two of which are for the manufacturing of surgical gloves and another for packing. With business in over 100 countries worldwide, Mölnlycke entered the Malaysian market in 1990 and currently employs over 2,500 Malaysians in their network.

To find out more information on Mölnlycke, please visit https://www.molnlycke.my/.

– 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. Headquartered in Kuala Lumpur Sentral, MIDA has 12 regional and 20 overseas offices. MIDA continues to be the strategic partner to businesses in seizing the opportunities arising from the technology revolution of this era. For more information, please visit www.mida.gov.my and follow us on Twitter, Instagram, Facebook, LinkedIn, TikTok and YouTube channel.

About Mölnlycke
Currently operating in over 100 countries worldwide, Mölnlycke is the owner of one of the leading brands in the surgical gloves segment – also known as Mölnlycke’s Biogel^® – among its other core businesses. Moving forward, Mölnlycke aims to meet the demands and equip healthcare professionals to achieve the best patient, clinical and economic outcomes, transforming the sector into a low carbon economy and achieving the ‘net zero’ targets by 2050 through their overall business operations. For more information on Mölnlycke, kindly visit https://www.molnlycke.my/.

For media enquiries, please contact:

MIDA
Ms. Azlina Hamdan
Director, Life Sciences & Medical Technology Division, MIDA
E: [email protected] I T: +603-2267 3791

Molnlycke
Elliot & Co (Representing Molnlycke)
Abigail Henry
Senior PR Consultant
+60 17- 383 3391
[email protected]

Mölnlycke® Pursues Sustainable Growth: Inaugurates new surgical glove plant in Kulim, Kedah with sustainability at core

Perak, September 8, 2022 – XP Power, one of the world’s leading developers and manufacturers of critical power solutions for the electronics industry, has begun construction on its latest manufacturing facility in Perak, Malaysia. The Asia III site will be the company’s largest facility, representing the biggest investment valued at RM228 million for Phase 1, over the span of 5 years. This expansion is vital in XP Power’s global growth strategy, increasing production capacity to support surging customer demand across regions.

Construction will begin in September, with the facility expected to be fully operational by second quarter 2024. The new factory complements the company’s existing sites in Vietnam, China, the US, and Germany, enhancing the resilience and flexibility of its supply chain. It will also create significant employment opportunities in the surrounding region. The factory, once completed, will employ approximately 1,200 people.

The momentous groundbreaking ceremony was graced by YAB Dato’ Seri Saarani Mohamad, Menteri Besar of Perak; YB Dato’ Shahrul Zaman Datuk Yahya, Perak State EXCO for Industry, Investment and Corridor Development; YB Khairul Shahril bin Mohamed; Perak State EXCO for Youth, Sport, Communication and Multimedia cum State Assemblyman for Bota Constituency; Ms. Lim Bee Vian, Deputy CEO (Investment Development), Malaysian Investment Development Authority (MIDA); Mr. Izran Abdullah, CEO of InvestPerak, and Mr. Oskar Zahn, CFO of XP Power.

Menteri Besar of Perak, YAB Dato’ Seri Saarani Bin Mohamad in his Keynote Address highlighted, “The State Government is focused on the needs of the rakyat. These high impact projects will bring in investments, strengthen the socio-economy and increase job creation. These investments will stimulate the local economy, thus contributing significantly towards the economic recovery of Perak after the COVID-19 pandemic.”

“Drawn by the stability and flexibility of the Malaysian business and investment policies, many MNCs have established their base operations here, including XP Power. Their presence here is a testament to their confidence in Malaysia’s vibrant electrical and electronics (E&E) ecosystem, which comprises players across the value chain, from equipment supplies to assembly and testing. XP Power’s investment in Malaysia will undeniably further strengthen our competitiveness and ensure our industries remain resilient and competitive. We welcome and look forward to have more XP Power’s industry counterparts and similar industries to emulate and leverage Malaysia as their regional supply chain hub.” said Ms. Lim Bee Vian, Deputy CEO (Investment Development) of MIDA.
Mr. Izran Abdullah, CEO of InvestPerak commented “Perak is strategically located at the midpoint between Penang and Selangor which are two economic focal points in Malaysia. We regard this as our advantage as we are able to gain economic spill over from both States and Perak is always ready to support industrial expansion from neighbouring states. Equipped with complete infrastructure, abundance of natural resources, sufficient high-skill talents and a matured industrial ecosystem, Perak is emerging as one of the focal destinations for new investments.”

“Our new facility in Perak is fundamental for XP Power in delivering XP Power’s ambitious growth aspirations over the next 5 to 10 years. The demand for XP Power’s products is strong across the entire power range driven by demand from healthcare, semiconductor and industrial customers. The demand is only increasing in the next decade. XP Power’s completed facility will employ around 1,200 employees and it will be our largest manufacturing facility globally complementing the existing sites in Vietnam, China, the USA and Germany. The company’s management is excited for the future of XP Power and see Perak as a critical stepping stone for the Group.” said Gavin Griggs, CEO, XP Power.

*****

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. The establishment of MIDA in 1967 was hailed by the World Bank as “the necessary impetus for purposeful, positive and coordinated promotional action” for Malaysia’s industrial development. Today, MIDA has grown to become a strong and dynamic organisation of over 700 employees. 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 InvestPerak
Perak Investment Management Centre (PIMC) or better known as InvestPerak, was established in January 2006 to serve as the ‘First Point of Contact for Investors’ in the manufacturing and services sectors in Perak. It primarily acts as the principal investment promotion agency of the Perak State Government and reports directly to the YAB Menteri Besar Perak. Perak State Government have mandated InvestPerak as secretariat for Centre of Investment (COI), which empowered the function of InvestPerak as facilitator in assisting investors to invest in Perak. In order to facilitate the implementation of investment projects in Perak, COI@InvestPerak have the authority to issue ‘Fast-Track Letter’ for strategic projects, which put the investment projects as a priority for all relevant agencies in their approval process. Apart from that, InvestPerak complements the role that the Malaysian Investment Development Authority (MIDA) plays at the Federal Government level, in terms of investment promotion and relevant incentives offering. InvestPerak also work closely with other related government departments and agencies, business chambers and industrial associations to ensure that the industries in Perak continue to grow and flourish.

About XP Power
XP Power is committed to being a leading provider of power solutions, including AC-DC power supplies, DC-DC converters, High Voltage power supplies and RF power supplies. With ISO9001:2008, XP Power offers total quality, from in-house design through to manufacturing facilities around the world. The company offers the widest range of power products available from one source and unrivalled technical and customer support, aiding both vendor consolidation and cost reduction programmes. XP Power has 24 sales offices throughout Europe, North America, and Asia.

XP Power Ltd (LSE:XPP), a London Stock Exchange FTSE 250 listed public company, has design centres in North America (Massachusetts, New Jersey and California) and Singapore, which also serves as the company’s headquarters. Manufacturing facilities are located in North America, Vietnam, and China. The design teams push back the boundaries of cost and technology, providing market leading power solution products. Local application teams provide expert technical support to help customers integrate and use XP Power products worldwide. Find more information about how XP Power is powering innovation at www.xppower.com

Media Enquiries:

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

InvestPerak
Mr. Mohamad Noor Arif
Investor Relations Manager
Email: [email protected] | Tel: +6013-4475312

XP Power
Maria Alonso, Publitek
Email: [email protected] | Tel: +44 1582390980

XP Power Breaks Ground Its Largest Global Manufacturing Facility To Support Rising Demand

NTT expands its hyperscaler footprint in Malaysia with its sixth data center facility, supporting the growing digital economy.

Cyberjaya, Malaysia – 05 September 2022 – NTT Ltd. a leading IT infrastructure and services company, and the first company to receive the Multimedia Super Corridor (MSC) status back in 1997,  today announced the commencement of its sixth data center construction in Cyberjaya, shortly after the completion of its fifth data center (CBJ5) in 2021.

NTT plans to initially invest over USD50 million for the new data center known as Cyberjaya 6 (CBJ6). It complements CBJ5 which covers just under 20 000 m² with a total facility load of 22MW when combined with CBJ6. The facility will cater to hyperscalers and high-end enterprises to accelerate digital transformation across industries in Malaysia as the nation ushers in the new digital era. With its global reach alongside local operational expertise, NTT’s data centers provide businesses in Malaysia with access to a wide portfolio of ICT solutions to support digital growth and needs, being the first company to receive Multimedia Super Corridor status back in 1997.

NTT showed its intent to support Malaysia’s digitalization during the meeting with the Trade and Investment Mission (TIM) delegation led by YB. Dato’ Seri Mohamed Azmin Ali, Senior Minister and Minister of International Trade and Industry (MITI) to Tokyo, Japan.

Dato’ Seri Azmin remarked, “MITI fully supports NTT’s investment plans in Malaysia and welcomes this latest move to develop a new data center and network infrastructure in Cyberjaya. Kudos to NTT’s vision of “NTT Green Innovation toward 2040”, in which NTT aims for carbon neutrality for its data centers by FY2030 and for the whole NTT Group by FY2040. This is certainly in tandem with Malaysia’s commitment to achieving net-zero emissions by 2050. This strategic investment will further support and drive Malaysia’s commitment towards ESG values and advancing green growth as outlined in the Twelfth Malaysian Plan.”

“The wave of digitalization is unstoppable. Companies today realize how important it is to harness the immense power of digital technology. We are honoured that Malaysia is the location of choice for industry leaders like NTT, to site their data centers.  The establishment of CBJ6 as part of NTT’s expansion plan is a strong testament to NTT’s confidence in Malaysia’s capability as a regional data center hub. We are confident that NTT’s efforts will contribute to the country’s goal of becoming a digital nation, helping it achieve a 22.6% GDP boost from the digital economy by 2025,” said Datuk Wira Arham Abdul Rahman, Chief Executive Officer of Malaysian Investment Development Authority (MIDA).

“Asia Pacific is a key growth region for NTT, and Malaysia has a prime position in its strategic investment plans. With this expansion through a new data center launch, NTT will drive business opportunities domestically and also across APAC. NTT’s investment will support Malaysia’s digitalization, and accelerate the growth of our domestic and APAC digital ecosystem” added Yasuo Suzuki, Executive Vice President, Data Center Service at NTT Ltd.

The optical submarine cable MIST¹ between Malaysia, Singapore, and India which is currently under construction, will enable connectivity between CBJ5 and CBJ6 to further enhance Malaysia’s network connectivity globally and build sustainable socio-economic impact. NTT will continue to expand its cable capacity.

Over the past 30 years, NTT has been expanding its footprint in Malaysia, making the nation’s vision a reality through public-private partnership. Moving forward, NTT will remain steadfast in its support for building Malaysia’s technological infrastructure, contributing towards the nation’s digital ecosystem and continually improving Malaysia’s position as a digitally-driven nation.

– Ends –

About NTT Ltd.
NTT Ltd. is a leading IT infrastructure and services company. With revenues of over USD 10 billion, we operate in more than 200 countries and regions, and serve 5,000 clients across multiple industries. Through technology and innovation, we deliver a secure and connected future that empowers our people, clients and communities. We lay the foundation for organizations’ edge-to-cloud networking ecosystem, simplify the complexity of their workloads across multicloud environments, and innovate at the edge of their IT environments, where networks, cloud and applications converge. On the journey towards a software-defined future, we support organizations with platform-delivered infrastructure services. As part of the global NTT Corporation, we serve 65% of the Fortune Global 500 and 80% of the Fortune Global 100.  We enable a connected future. Visit us at services.global.ntt.

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

Media Enquiries:

NTT Ltd.
JC Ting, Senior Manager, Marketing, Malaysia
Email : [email protected]
Tel : +60-12-504-9632

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

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¹ The MIST cable system will be available by mid 2023 and it is a strategic joint venture for international submarine cables in South East Asia, with Orient Link Pte. Ltd.. It will enable NTT Ltd. to expand its offerings into India and beyond, while the ASE and APG cable systems provide global connectivity from Asia to United States.

NTT Launches its Cyberjaya 6 (CBJ6) Data Center in Malaysia

The Malaysian Investment Development Authority (MIDA) is pleased to announce the appointment of Tan Sri Dato’ Sri Dr. Sulaiman Mahbob as the new Chairman of MIDA, effective 3 September 2022. This will be the second time that he has been elected as the Chairman of MIDA. He was first elected from 2009 to 2012.

Tan Sri Dato’ Sri Dr. Sulaiman Mahbob has had a distinguished career in the Public Service having served in various ministries and departments. Currently, he is the Chief Executive Officer of the National Recovery Council (NRC), member of the Board of Directors for the Institute of Strategic and International Studies (ISIS) and Perbadanan Tabung Pendidikan Tinggi Nasional (PTPTN). He is also the Chairman of the Malaysian Institute of Economic Research (MIER), a board member of Perbadanan Insurance Deposit Malaysia (PIDM) and Malaysian Communications and Multimedia Commission (MCMC). Being also active in academia, he is an Adjunct Professor at the University of Malaya (INPUMA) and University Tun Razak (UNIRAZAK) where he lectures in Economics and Public Policy.

Tan Sri Dr. Sulaiman graduated with an economics degree at the University of Malaya and obtained his PhD at Maxwell School, Syracuse University, USA. A veritable thought leader in the fields of Economic Policy, Public Finance and Development as well as on a broad range of subjects, he has regularly articulated his views via op-eds and lectures at home and abroad.

Commending Tan Sri Dr. Sulaiman’s appointment as MIDA’s new chairman, Senior Minister and Minister of International Trade and Industry YB Dato’ Seri Mohamed Azmin Ali said, “In facing the current geopolitical realities and landscape, MIDA’s role demands, more than ever before, a creative, innovative and comprehensive approach, in increasing competitiveness and resilience towards attracting quality and high-tech investments into the country. Indeed, Tan Sri Dr. Sulaiman’s appointment will provide a fresh perspective in contributing towards increasing the dynamism of MIDA, building on his invaluable expertise and vast experience, especially in the areas of economic planning, strategic business modelling, and global trend analysis.”

-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. 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 media enquiries please contact:
Ms. Normi Alias
Director, Corporate Management Division
DL: +603-2267 3789 | Email: [email protected]

Tan Sri Dato’ Sri Dr. Sulaiman Bin Mahbob Appointed as the New Chairman of MIDA

Malaysia Continues to be an Attractive Investment Destination for Both Foreign Direct Investments (FDI) and Domestic Direct Investments (DDI) to Drive Malaysia’s Economic Growth

• Malaysia attracted RM123.3 billion (USD28.0 billion) of approved investments in the manufacturing (RM43.1 billion or USD9.8 billion), services (RM78.0 billion or USD17.7 billion) and primary sectors (RM2.2 billion or USD0.5 billion).
• Foreign Direct Investments (FDI) remained the major contributor for the total approved investments at 70.9 per cent or RM87.4 billion (USD19.9 billion).
• The approved investments for this period will generate 57,771 new jobs in the country.
• Malaysia’s services sector secured projects worth RM78.0 billion (USD17.7 billion) for the first half of 2022, compared to the RM52.4 billion (USD12.6 billion) it gained for the same period in 2021, a major increase of 48.8 per cent.

KUALA LUMPUR, Sept 2 (Bernama) — Malaysia remained an attractive investment destination for global and regional business expansions as the total Foreign Direct Investments (FDI) and Domestic Direct Investments (DDI) continue to grow for the period of January to June 2022. The nation’s economy has been on a strong recovery path since the country reopened its borders last year. Supported by robust industrial ecosystem, increase in domestic demand and easing of containment measures, the Malaysian economy performance continues to normalise and grow in strength. 

Apart from the increasing number of MNCs’ presence in Malaysia, Malaysian companies have also leveraged their presence here by being persistent in building up their capabilities to provide products and services required by these global companies.

Malaysia has attracted a total of RM123.3 billion (USD28.0 billion) worth of approved investments in the manufacturing, services and primary sectors involving 1,714 projects for the period of January to June 2022 and is expected to create 57,771 job opportunities in the country. FDI remained the major contributor, at 70.9 per cent or RM87.4 billion (USD19.9 billion), while investments from domestic sources contributed 29.1 per cent amounting to RM35.9 billion (USD8.2 billion).

In this period, the services sector assumed a significant role towards driving the country’s economic recovery, accounting for 63.3 per cent of total approved investments with RM78.0 billion (USD17.7 billion). The stellar performance for the services sector exceeded expectations for January to June 2022, an increase of 48.8 per cent from the achievement attained in the same period in 2021. This is followed by the manufacturing sector at RM43.1 billion (USD9.8 billion) or 34.9 per cent and the primary sector at RM2.2 billion (USD0.5 billion) or 1.8 per cent.

FDI accounted for 70.9 per cent of the approved investments, valued at RM87.4 billion (USD19.9 billion). Of the total investments approved, the People’s Republic of China (PRC) dominated foreign investments for the period of January to June 2022, with investments totalling RM48.6 billion (USD11.0 billion). This is followed by Germany (RM9.0 billion) (USD2.0 billion), Singapore (RM6.0 billion) (USD1.4 billion), Brunei (RM5.1 billion) (USD1.2 billion), and The Netherlands (RM4.1 billion) (USD0.9 billion).

For projects approved by state, five (5) major states, namely Johor, Selangor, Sabah, Kedah and Pulau Pinang, contributed RM103.5 billion (USD23.5 billion) or 83.9 per cent of the total investments approved from January to June 2022. 

YB. Dato’ Seri Mohamed Azmin Ali, Senior Minister and Minister of International Trade and Industry (MITI) stated said, “Malaysia is on the right trajectory to secure more high-quality, high impact and capital-intensive projects, with the services sector being the key growth driver for the economy and the largest contributor for approved investments for the first half of this year. In maintaining the momentum, MITI will continue to strengthen the country’s competitiveness by developing economic complexity, nurturing a strong industrial ecosystem with innovation intensity, enhancing inclusivity by creation of high-income jobs and promoting opportunities to participate in the regional and global supply chains. Driven by the National Investment Aspirations (NIA), we will intensify our focus towards sectors such as digital economy, electrical and electronics (E&E), pharmaceutical, chemical and aerospace with significant economic potential and sustainable long-term growth.” 

The Malaysian Government has lined-up strategic and focused trade and investment missions (TIM) targeted to capture investments in high technology, innovation and research-driven industries that will complement and further strengthen the Malaysian industrial ecosystem.

Services Sector Takes the Lead 

Malaysia’s diversified services sector continues to embrace digitalisation to move up the value chain and boost operational efficiency when remote-working and automation trends have accelerated as we transition to the new era of endemicity. New services have materialised through the invention of the Internet of Things, Artificial Intelligence and the cloud network have redefined the service sector’s importance in Malaysia’s economy.

The Digital Investment Office (DIO), a fully-digital collaborative platform between MIDA and MDEC, was established to coordinate and streamline digital investments into the country while providing end-to-end facilitation to investors, thus helping investors to realise their business growth expansion in Malaysia. The office is committed towards attracting investments that embodies high-value, sustainability and technologies.

This is in line with the government’s aim to attract RM70.0 billion (USD15.6 billion) investments to accelerate digitalisation efforts by 2025. This initiative is 
timely and in line with the evolution of the global investment landscape towards digitalisation and Industry 4.0, creating unique and interesting value propositions for digital projects which involves digital infrastructure projects like data centres and submarine cables as well as digital technology projects that utilise IR4.0 technology such as cloud computing, artificial intelligence and big data analysis.

For this period, the services sector accounted for the largest share of the total approved investments, amounting to RM78.0 billion (USD17.7 billion) from 1,351 projects which contributed to the growth of the country’s economy. This is a significant increase as compared to the RM52.4 billion (USD12.6 billion) investments approved for the services sector in the same period last year. A total of 22,569 new jobs are expected to be created in the services sector.

Based on the total approved investments for the first half of 2022, foreign investments made up the largest portion, recording RM50.4 billion (USD11.5 billion) or 64.6 per cent of the total approved investments for the services sector, while the remaining 35.4 per cent or RM27.6 billion (USD6.3 billion) were from domestic sources.

In terms of top-performing sub-sectors for the period, information and communications sub-sector dominated the services sector, with approved investments valued at RM53.7 billion (USD12.2 billion) or 68.8 per cent. From the total approved investments of this sub-sector, three (3) data centre projects were approved with investments totalling RM51.1 billion (USD11.6 billion) or 95.2 per cent.

Among other performing sub-sectors which contributed to the significant amount of investments approved were real estate (RM11.0 billion) (USD2.5 billion), utilities (RM4.8 billion) (USD1.1 billion), distributive trade (RM2.1 billion) (USD0.5 billion) and hotels and tourism (RM1.8 billion)(USD0.4 billion).

Five (5) sub-sectors showed positive development in terms of percentage increment of approved investments namely information and communications, with an increase of 1,300 per cent. This is followed by other services with an increase of 153.4 per cent, hotels and tourism (15.3 per cent), distributive trade (14.3 per cent), and utilities (7.2 per cent).

Notable projects approved in services sector include PRC’s Bridge Data Centres Malaysia III Sdn. Bhd. and ByteDance System Sdn. Bhd., as well as Malaysian public listed company YTL Power International Berhad. All three (3) are data centre projects. These projects are testament to Malaysia’s readiness and attractiveness to host more digital investments projects in the near future.

Manufacturing Sector

Malaysia continues to attract high quality investments in the manufacturing sector for the period January to June 2022, reflecting the country’s competitiveness as a preferred location for investment in the region. The manufacturing sector accounted for RM43.1 billion (USD9.8 billion) (34.9 per cent) from the total approved investments in various economic sectors, as compared to RM75.8 billion (USD18.3 billion) for the same period in 2021. The approval of a megaproject was cited as the reason for the high total approved investments in the manufacturing sector for the first half in 2021.

Of the total approved investments in 1H2022 for the manufacturing sector, FDI amounted to RM35.5 billion (USD8.1 billion) (82.4 per cent), while domestic investments contributed to the remaining RM7.6 billion (USD1.7 billion) (17.6 per cent).

From the RM43.1 billion (USD9.8 billion) approved investments in the manufacturing sector, investments for expansion/diversification projects showed positive development with an increase of 31.9 per cent totaling RM26.0 billion (USD5.9 billion) for the first half of 2022, as compared to the same period in 2021. The remaining RM17.1 billion (USD3.9 billion) were recorded from new projects.

In terms of top-performing industries for this period, electrical and electronics (E&E) products lead the manufacturing sector (RM19.4 billion) (USD4.4 billion), followed by petroleum products (including petrochemicals) (RM5.1 billion) (USD1.2 billion), non-metallic mineral products (RM4.8 billion) (USD1.1 billion),scientific and measuring equipment (RM3.6 billion) (USD0.8 billion), fabricated metal products (RM2.8 billion) (USD0.6 billion), chemical and chemical products (RM1.5 billion) (USD0.3 billion), machinery and equipment (RM1.4 billion) (USD0.3 billion), as well as food manufacturing (RM1.1 billion) (USD0.3 billion). These industries made up RM39.5 billion (USD9.0 billion) (91.6 per cent) of total approved investments in this sector.

A total of 35,032 potential job opportunities are expected to be created in the manufacturing sector, where it will require 1,745 (5 per cent) managerial positions, 4,122 (11.8 per cent) professional/technical and supervisory roles, such as engineers in the field of E&E, mechanical, chemical and other disciplines, reflecting the higher value chain transition of the manufacturing sector. The approved manufacturing projects will also require 7,491 (21.4 per cent) skilled craftsmen, such as plant maintenance supervisors, tools and die makers, machinists, IT personnel, quality controllers, electricians and welders. 

Notable projects approved in the manufacturing sector for the first half of 2022 include:

• The ams OSRAM Group (SIX:AMS), a global leader in optical solutions, is investing in research, development and state-of-the-art manufacturing capabilities in its wholly owned legal entity Osram Opto Semiconductors (Malaysia) Sdn. Bhd at the Kulim Hi-Tech Park. The expansion will help ams OSRAM to set international standards in the fields of illumination, visualization and sensor technology through building a fully-automated manufacturing facility extension to its current factory at the Kulim Hi-Tech Park. This flagship facility, focused on wafer fabrication, will play an important role in future technology growth. ams OSRAM will continue to contribute to Malaysia’s domestic E&E ecosystem and the company anticipates employment opportunities locally. ams OSRAM is a multinational optical technology pioneer headquartered in Austria and Munich who established operations in Penang in 1972. 

• Petroventure Energy Sdn. Bhd. is a Special Purpose Vehicle (SPV) company based in Sabah and will be manufacturing petroleum products in Sabah, including gasoline, kerosene, benzene, liquefied petroleum gas, acrylic, sulphur, slurry, fuel oil and diesel. This project will help Sabah’s economy to spur as the products from the refinery will create a new supply chain that will benefit many businesses. Also, the project is anticipated to create between 500 to 1,000 potential job opportunities.

Primary Sector

The primary sector recorded a total of RM2.2 billion (USD0.5 billion) approved investments (1.8 per cent) of the total approved investments in the various economic sectors for the period of January to June 2022, as compared to RM6.5 billion (USD1.6 billion) approved investments for the same period in 2021. FDI dominated the primary sector with investments valued at RM1.5 billion (USD0.3 billion) (68.2 per cent), while the remaining RM0.7 billion (USD0.2 billion) (31.8 per cent) is contributed from domestic sources.

Two (2) sub-sectors showed a significant growth, namely agricultural sub-sector and plantation and commodities sub-sector. The agricultural sub-sector amounted to RM184.7 million (USD42.0 million) in total approved investments which is a 1,500 per cent increment from the previous RM11.5 million (USD2.6 million) investments for the same period in 2021. Meanwhile, the plantation and commodities sub-sector recorded RM109.1 million (USD24.8 million) of approved investments, an increase of 36.6 per cent from the previous RM79.8 million (USD19.2 million) investments for the same period in 2021.

Malaysia remains steadfast in its fundamentals as the pre-eminent preferred investment destination in the region and set to catapult the nation to stage its most robust recovery as we enter the stage of endemicity. As we forge ahead on the path of economic revitalisation supported by ongoing policy reforms and accelerated digitalisation, the government remains committed to prioritising the needs of our people and businesses.

As of August 2022, there are 276 projects with proposed investments of RM25.1 billion (USD5.6 billion) within MIDA’s pipeline; 198 projects are from the services sector (RM13.7 billion) (USD3.1 billion), while 78 projects are from the manufacturing sector (RM11.4 billion) (USD2.6 billion), all of which fall under MIDA’s purview.

According to the 2021 Global Services Location Index (GSLI) by global consulting firm Kearney, Malaysia is the world’s third most competitive Global Business Services (GBS) location, trailing behind India and China. This biannual index tracks the contours of the global landscape across 60 countries in four (4) major categories: financial attractiveness, people skills and availability, business environment, and digital resonance.

Moving forward, MITI and MIDA aspire to continue the momentum in securing new sustainable and inclusive investments to drive Malaysia’s economic growth. 

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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 enquiries, please contact: 
Ms. Fatmah Ahmad
Director, Corporate Communications Division
Tel: +603-2267 2428 | Email: [email protected]

Malaysia Attracted RM123.3 Billion (USD28.0 Billion) of Approved Investments For The First Half Of 2022

Malacca, 02 September 2022 – The Malaysian Investment Development Authority (MIDA) reaffirms its commitment to the country’s supply chain facilitation agenda by extending its support to Xinyi Energy Smart (Malaysia) Sdn. Bhd. (Xinyi Energy Smart)’s supply chain programme. Xinyi Energy Smart is the first overseas division of China’s leading integrated glass manufacturer, Xinyi Glass Holdings Limited.

Xinyi Energy Smart, located here at Elkay Industrial Park, Lipat Kajang, Jasin, is looking to expand its supplier base as part of its localisation plan. This supply chain programme seeks to establish a conducive supply chain ecosystem by partnering with local suppliers, vendors and service providers.  

MIDA, has played an instrumental role in helping Xinyi set-up its operations here, is supportive of the latter’s supply chain programme as it opens up opportunities for local suppliers to grow and develop their business. This is in tandem with the supply chain facilitation programme initiated by the Government of Malaysia, tasked to MIDA, to assist both domestic and foreign companies get the most out of their operations here.

“MIDA’s supply chain programme aims to create opportunities for domestic companies, narrow gaps in the supply chain, support multinational companies (MNCs) and Limited Liability Companies (LLCs) in outsourcing their manufacturing activities to domestic companies, as well as develop and upgrade the domestic companies. This in turn, will encourage the growth of domestic investments and encourage the adoption and adaptation of automation and the Fourth Industrial Revolution (4IR) by MNCs, LLCs and their vendors,” said MIDA Deputy Chief Executive Officer (Investment Development), Ms. Lim Bee Vian.

“MIDA is looking forward to the success of this programme in bridging the needs and opportunities between Xinyi and our local companies. Xinyi is also looking forward to building relationships with service providers, namely haulage and transportation services. MIDA welcomes industry players to explore our dedicated resources, wide range of facilities or consultation services to assist investors in expanding their operations here in the country. Xinyi has thus far invested approximately RM2.1 billion in Malaysia and created more than 1,900 job opportunities.” added Ms. Lim Bee Vian.

“MIDA continues to be vigilant in monitoring the dynamic changing landscape and work towards maintaining a resilient business environment which attracts quality investment, integrates local companies into global supply chains and creates high-value jobs and opportunities for Malaysians. Malaysia has managed to leverage on the strengths of its local value chain to fortify the country’s supply chain resilience in delivering critical goods at the height of the COVID-19 pandemic and will continue to remain resilient to minimise any future risks.” she added.

According to Xinyi Smart Energy Managing Director Datuk Sin Ket Hin, “Xinyi is appreciative of MIDA’s efforts to identify potential partnerships between foreign and local companies. The company is well aware that domestic investments are crucial for the growth of Malaysia’s industrial development and as such is delighted to collaborate in a win-win relationship.” 

“We are happy that the government has initiated the supply chain facilitation programme to assist investors to identify suitable local suppliers. This certainly will ease our efforts in sourcing for raw materials and transportation services as local suppliers sign up under our programme. We look forward to harness outsourcing opportunities offered by Malaysian companies particularly for our upstream and downstream needs,” he said.

-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 Malaysia’s manufacturing and services sectors. Headquartered in Kuala Lumpur Sentral, MIDA has 12 regional and 20 overseas offices. MIDA continues to be the strategic partner to businesses in seizing the opportunities arising from the technology revolution of this era. For more information, please visit www.mida.gov.my and follow us on Twitter, Instagram, Facebook, LinkedIn and YouTube channels.

About Xinyi

Xinyi Glass Holdings Limited, founded in 1988 and headquartered in Hong Kong, China, was listed on the main board of the Hong Kong Stock Exchange in February, 2005. As one of the world’s leading integrated glass manufacturers, Xinyi Glass is committed to the manufacturing of high-quality float glass, automobile glass and energy-saving architectural glass, and has a sales network covering over 130 countries and regions around the world.

Xinyi Glass actively promotes the globalisation of its business and continues to improve the global strategic layout. The company established its first overseas manufacturing base in Malacca, Malaysia to produce high quality float glass and coated glass. Xinyi Glass, with a market cap of over HK$56.5 billion and an annual revenue of over HK$ 30.4 billion, now has a total industrial area of over 7.37 million sqm and over 14,000 employees.

Xinyi Solar (Malaysia) Sdn. Bhd. was incorporated on 27 November 2014 to produce photovoltaic functional glass at Elkay Industrial Park, Lipat Kajang Jasin. Its second project in Malacca is Xinyi Energy Smart (Malaysia) Sdn. Bhd, producing float glass and float coated glass. The company also manufactures laminated glass windshields.  Xinyi’s investment in Malaysia is approximately RM2.1 billion, creating more than 1,900 jobs.

MEDIA CONTACTS:

MIDA:

Ms. Rozita Ibrahim
Director, Building Technology and Lifestyle, MIDA
Email: [email protected] | DL: + 603- 2267 3479

XINYI:

Mr. Abdul Hazim Bin Rahmat
Senior Manager, Public Relation, Xinyi Energy Smart (M) Sdn Bhd
Email: [email protected] | DL: + 6019-2555285

MIDA and Xinyi Energy Smart Partnered in Supply Chain Programme to Strengthen Domestic Resilience

TAIYO YUDEN ANNOUNCES EXPANSION OF MULTILAYER CERAMIC CAPACITORS PRODUCTION IN SARAWAK

Construction project by Taiyo Yuden valued at RM680 million commences in September 2021  

Kuala Lumpur, 21 September 2021 – Taiyo Yuden Co. Ltd., listed on the Tokyo Stock Exchange, announced today that one of its subsidiaries, Taiyo Yuden (Sarawak) Sdn Bhd, is expanding its multilayer ceramic capacitors manufacturing facility in Kuching as a strategic move to increase its production capacity in the ASEAN region. This marks another milestone for Malaysia as the preferred hub for global manufacturers and an ASEAN gateway.

The expansion of Taiyo Yuden’s facility in Sarawak was discussed during the Trade and Investment Mission (TIM) to Tokyo in April 2021 led by YB Dato’ Seri Mohamed Azmin Ali, Senior Minister and Minister of International Trade and Industry.

“Taiyo Yuden’s decision to inject RM680 million capital investments for their new facility reflects booming investors’ confidence in our ecosystem’s readiness to support global production. This achievement demonstrates the success of the Government’s aggressive and effective strategies to welcome and facilitate high-quality FDIs. MIDA has been working closely with Taiyo Yuden in ensuring the smooth implementation of their expansion project that will generate an additional 2,000 job opportunities,” said Dato’ Seri Azmin.

Mr. Shinji Masuyama, Director and Executive Vice President of Taiyo Yuden said, “The construction of this new plant is an important investment agenda under the Group’s Medium-term Management Plan 2025. More than ever, we will strive continuously to develop as a business enterprise that is trustworthy to all the stakeholders, including our customers, local communities in Malaysia, and employees.”

Taiyo Yuden (Sarawak) is a production site for multilayer ceramic capacitors, which are essential components for the creation of miniature and high-performance electronic devices. Since 1994, the company has employed 4,600 personnel in their manufacturing plant.

The company foresees a higher demand for multilayer ceramic capacitors in the future due to the advancement of technologies in automobiles, electrical and electronics, 5G smartphones and communications infrastructure. 

The Kuching facility spanning over 36,500 square meters, is expected to be in operation by March 2023. It will include the usage of high-tech equipment with state-of-the-art features, support high-energy conservation and incorporate solar-powered roof, in line with ESG Goals. This bodes well with the National Investment Aspirations (NIA) crucial in revitalising Malaysia’s investment climate, attract high-quality investments and create high-income jobs.

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About MIDA

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

About TAIYO YUDEN

Since Taiyo Yuden’s inception, we have achieved growth by undertaking the research, development, manufacture and sales of various types of electronic components. Our product lineup includes capacitors, as well as inductors and Film Bulk Acoustic Resonator (FBAR)/Surface Acoustic Wave (SAW) devices. The source of our strength comes from the undertaking of development starting from material development to product commercialisation. This approach enables us to continually provide products that respond closely to our customer needs in the markets we serve. We currently offer products used in such electronic devices, as smartphones and tablets. We also offer a wide range of fields such as automobile and IT infrastructure/industrial equipment, where the application of IT and electronics is accelerating. For more information, please visit https://www.yuden.co.jp/ap/ .

For media enquiries, please contact: 

Manjit Kaur Balkar Singh (Ms)

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

Taiyo Yuden Announces Expansion Of Multilayer Ceramic Capacitors Production In Sarawak

Kuala Lumpur, 15 September 2021 – The Malaysian Investment Development Authority (MIDA) and the Malaysia Semiconductor Industry Association (MSIA) hosted a webinar today on ‘Seizing the Next Wave of E&E Investment into Malaysia’. The webinar, which was broadcasted online, successfully attracted more than 350 participants, represented by manufacturers, service providers and potential investors.

Dato’ Seri Wong Siew Hai, President of MSIA welcomed the attendees and iterated that the webinar was important to emphasise that Malaysia is open-for-business, with continued and sustained discussions between the Government and electrical and electronics (E&E) companies to improve the ease of doing business in the country. This is part of the efforts to make Malaysia more competitive in the E&E sector and move up the global value chain.

Presently, Malaysia stands as a crucial global hub in the semiconductor global supply chain, with approximately seven (7) per cent of the total global semiconductor trade flowing through the nation. In 2020, the E&E exports recorded RM386 billion, accounting for 39.4 per cent of Malaysia’s total exports.

Mr. Arham Abdul Rahman, the Chief Executive Officer (CEO) of MIDA, in his Keynote Address highlighted the need for Malaysia to be in the forefront in seizing opportunities in the E&E, particularly the semiconductor segment. This is especially important as more global companies are seeking to capitalise on Malaysia to develop new technologies, venture into additional products and ramp up production capacities to meet the growing needs and demands of the industry.

“Malaysia welcomes investments of complex and high value-added products, intensification of R&D activities, adoption of digitalisation and new technologies. Malaysian companies are encouraged to participate in the greater E&E value chain, especially in closing the ecosystem gaps, such as in IC design, advanced IC packaging, engineering and testing services, as well as Electronic Manufacturing Services (EMS),” said Mr. Arham.

“Towards this, various stimulus packages, namely PENJANA were introduced to continue supporting new and existing industry players and promoting the development of industries in Malaysia. These massive allocations are necessary to help businesses and industries to retain workers, meet market demands and remain operational beyond the current economic climate. We are optimistic that these measures will solidify Malaysia’s position as a competitive and profitable investment destination in line with our National Investment Aspirations (NIA). In this regard, industry players are strongly urged to take the full advantage of all the packages available, particularly those offered through MIDA to facilitate investments and businesses.”

The webinar featured an expert forum between Mr. Arham; Mr. Gursharan Singh, Senior Vice President for Global Assembly and Test of Micron Technology; Mr. Ng Kok Tiong, Senior Vice President and Managing Director of Infineon Technologies Kulim Sdn. Bhd.; and Mr. Yogannaidu Sivanchalam, Country Managing Director of Texas Instruments Malaysia Sdn. Bhd. The panel was moderated by Dato’ P’ng Soo Hong, Vice President and Managing Director of Manufacturing Operations at First Solar Malaysia Sdn. Bhd.

Mr. Yogannaidu from Texas Instruments Malaysia remarked, “Given the long-term trend of semiconductors growth in electronics, and the fact that manufacturing is the main engine of Malaysia’s economic growth, the Government and industry players must seize this opportunity by improving Malaysia’s attractiveness as a global E&E investment destination.” Over its nearly 50-year history in Malaysia, Texas Instruments Malaysia has created thousands of jobs, including hiring graduates from local universities.

Drawing from Infineon’s 47 years in Malaysia, with activities comprising of wafer fabrication, assembly, test and R&D facilities, Mr. Ng Kok Tiong shared, “Malaysia has cost advantages and supportive economic environment, which continue to be very attractive for Infineon to expand its existing operations and R&D capabilities in new technologies. We are confident that our long-term presence will continue to position Malaysia in enhancing its global semiconductors supply chain hub.”

Mr. Gursharan Singh elaborated on Micron’s steady growth in Malaysia since 2018, “In the last decade, Malaysia has become critical to our global manufacturing footprint. Despite the pandemic, we have successfully established two facilities in two years in Seberang Perai (2019) and Batu Kawan (2020), Penang. With 99 per cent of our workforce recruited locally, Micron will continue to generate employment with our continued growth, and deeply engage in the communities where we operate.” Currently, with close to 4,000 team members, Micron, the global leader in memory and storage, plans to generate another 2,000 jobs over the next three (3) to four (4) years in Malaysia.

Companies interested to leverage Malaysia to establish their E&E operations may engage with MIDA’s E&E Division through www.mida.gov.my.

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About MIDA

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

About MSIA

Malaysia Semiconductor Industry Association (MSIA) is an industry association which cover individuals and companies incorporated in Malaysia who are involved directly or related to Semiconductor Industry (Electronics and Systems), Semiconductor Industry supply chain, institutions providing significant related services to semiconductor industry such as engineering, finance, legal and those societies, associations, chambers and government – linked agencies. For more information, please visit http://www.msia.org.my.

For enquiries, please contact:

Azlina Hamdan (Ms.)
Email: [email protected] | DL: +603-2267 3791

Nur Aliah Manshor (Ms.)
Email: [email protected] | DL: +019-2844759

Malaysia Remains an Attractive Location For Semiconductor And E&E Companies

MITI and MIDA Committed to Ensuring Success of National Investment Aspirations and Robust and Sustainable Economic Recovery

Malaysia achieved robust and impressive performance for the first half of 2021 with foreign direct investments (FDI) soaring by 223.1 per cent compared to 1H 2020, signaling the confidence of foreign investors in the country’s stable and conducive economic climate and business ecosystem. This augurs well for Malaysia’s path to vibrant and sustainable economic recovery.

The stellar performance also demonstrates that Malaysia’s strategy of positioning the country as an attractive investment destination of choice and a supply chain hub in ASEAN, particularly for manufacturing operations, is showing positive results. FDI drove the strong and vibrant performance of the manufacturing sector during the period, registering RM58.2 billion in approved investments. The remaining RM8.7 billion approved investments in this sector were from domestic sources.

In terms of total approved investments, Malaysia recorded RM107.5 billion of FDI and domestic direct investments (DDI) in the manufacturing, services and primary sectors, chalking up a massive jump of 69.8 per cent compared to the same period last year. Achieved amidst a very challenging global economic landscape, the investments involved 2,110 projects and are expected to generate 44,994 job opportunities in the country.

Leveraging on the positive progress on the National Recovery Plan (NRP), improvement in the overall public health situation, and gradual reopening of economic sectors, Malaysia continues to attract high-value and high-tech investments, bolstered by our capacity and capability in providing high-skilled talents and firm readiness in adopting advanced technology for value-added industries.

In tandem with our National Investment Aspirations (NIA), Malaysia consistently pursues more capital-intensive projects and those that support the development agenda of the nation, consistent with Environmental, Social and Governance (ESG) goals. This is reflected by the increasing number of capital-intensive projects approved by MIDA.
Simultaneously, there is an emphasis on creating jobs across a wide spectrum of skills for the rakyat. In this regard, the 367 manufacturing projects worth RM66.9 billion approved during the first half of 2021, will create 32,220 job opportunities in various positions and roles, leading on the path for high-value and skilled employment.

The workforce required for the approved investments include 1,367 managerial positions and 4,031 technical professionals such as engineers in the field of E&E, mechanical, chemical and other disciplines, reflecting the higher value chain transition of the manufacturing sector. The approved manufacturing projects will also require 4,144 skilled craftsmen. Meanwhile, domestic investments, leading in the services and primary sectors, totaled RM45.0 billion or 41.9% of the total approved investments.

Notable projects approved in 1H 2021 include Republic of Korea’s SK Nexilis project for a new copper foil manufacturing plant, Risen Energy’s proposed project to produce bi-facial technology solar products, and
OCIM’s proposed investment to expand the capacity of its solar grade polysilicon plant. These projects will not only further enhance Malaysia’s industry ecosystem but boost employment opportunities in the field of high-tech skills as well as enable local businesses to leverage on the global value chain.

Going forward, from the strategic vantage point of the NIA, we will continue to pursue high quality investments to bring value to the nation and people, not just in preserving jobs but in creating new high value-added employment. We are committed towards positioning Malaysia as the ideal partner for investors in the region, enhancing our economic complexity and propelling long term growth for Malaysia through the flow of sustainable quality investments in new and complex growth areas.

With the trajectory of Malaysia’s strong economic fundamentals, positive factors underpinning growth prospect as well as expected stronger external demand for our products, the Government is fully committed to ensuring robust and sustainable recovery, equitable economic growth and shared prosperity for Malaysia.

Dato’ Seri Mohamed Azmin Ali
Senior Minister
Minister of International Trade and Industry
13 September 2021

APPENDIX

Approved Investments in Malaysia Increased by more than 69 %, to Record RM107.5 Billion in the First Half of 2021

During the first half of 2021, Malaysia attracted a total of RM107.5 billion of foreign investments (FDI) and expanded domestic investments (DDI) approved in the manufacturing, services and primary sectors, representing an increase of 69.8 per cent compared to the same period of last year. The approved investments involved 2,110 projects and are
expected to generate 44,994 job opportunities in the country.

More than 58.1 per cent of the approved investments were from foreign sources, valued at RM62.5 billion. Singapore, Republic of Korea and the Netherlands were the top three foreign investment sources accounting for nearly 90 per cent or RM54.9 billion of the total approved FDI in the country.

Meanwhile, domestic investments totaled RM45.0 billion or 41.9% of the total approved investments. While FDI dominated the manufacturing sector, investments from Malaysian companies led in the services and primary sectors.

Five states – Kedah, Selangor, W.P. Kuala Lumpur, Sarawak and Johor – contributed RM85.0 billion (79.0%) to the total approved investments with a potential to create 31,395 jobs.

Manufacturing Sector

The manufacturing sector accounted for the largest share of the total investments in 1H 2021, amounting to RM66.9 billion (62.2%), followed by the services sector with RM34.1 billion (31.7%) and the primary sector with RM6.5 billion (6.1%).

A total of 367 manufacturing projects worth RM66.9 billion were approved in first six months of 2021, compared to RM36.4 billion in the same period last year. In terms of top-performing industries in 1H 2021, the electrical 5 and electronics (E&E) (RM47.1 billion), fabricated metal products (RM5.1 billion), chemicals and chemical products (RM3.8 billion), food manufacturing (RM3.7 billion) and rubber products (RM3.6 billion) made up 94.6 per cent of total approved investments for this sector.

The workforce required for the approved investments include 1,367 managerial positions and 4,031 technical professionals such as engineers in the field of E&E, mechanical, chemical and other disciplines, reflecting the higher value chain transition of the manufacturing sector. The approved manufacturing projects will also require 4,144 skilled craftsmen such as plant maintenance supervisors, tools and die makers, machinists, IT personnel, quality controllers, electricians and welders. The capital investment per employee (CIPE) ratio of the projects approved in 1H 2021
increased to RM2,077,245 from RM1,333,559 during the same period last year.

FDI drove the robust performance of the manufacturing sector during the period, registering RM58.2 billion in approved investments, soaring by 223.1 per cent compared to 1H 2020. The remaining RM8.7 billion approved investments in the sector were from domestic sources.

Notable projects approved in 1H 2021 include Republic of Korea’s SK Nexilis project for a new copper foil manufacturing plant, Risen Energy’s proposed project to produce bi-facial technology solar products in Malaysia, and OCIM’s proposed investment to expand the capacity of its solar grade polysilicon plant in Samalaju, Sarawak.

Services Sector

A total of 1,717 services projects were approved in 1H 2021. These projects are expected to create more than 12,400 job opportunities. The total investments approved in the services sector recorded an increase of nearly 30 per cent from the approvals recorded for the same period in 2020.

Domestic investments made up the larger portion, recording RM31.9 billion or 93.6 per cent of the total approved investments while the remainder, RM2.2 billion were from foreign sources.

The real estate sub-sector remains the largest contributor with RM14.9 billion, recording a 20.6 per cent increase from the corresponding period last year. Following the easing of restrictions on economic activities, the global establishments, support services, transport services, distributive trade, hotel and tourism, financial services and education services subsectors have also recorded increases during the period.

Primary Sector

The primary sector contributed RM6.5 billion or 6.1 per cent to the total approved projects in the first half of 2021. The mining subsector continued to lead with approved investments of RM6.4 billion, followed by plantation and commodities with RM79.8 million and agriculture with RM11.5 million. These investments are expected to create 278 job opportunities.

Investments from domestic sources took the lead in the sector with a total amount of RM4.4 billion or 66.9 per cent, while foreign investments contributed RM2.1 billion or 33.1 per cent.

Massive Jump in Approved Investments in Malaysia Signals Confidence of Investors

Kuala Lumpur, 8 Sept 2021 – The Malaysian Investment Development Authority (MIDA) and Citibank Berhad (Citi Malaysia) today inked a Memorandum of Understanding (MOU) for a partnership to extend a financial platform and a seamless provision of end-to-end banking services by Citi Malaysia to new and existing foreign investors in Malaysia.

The MOU was signed virtually by MIDA Chief Executive Officer, Mr. Arham Abdul Rahman and Citi Malaysia Chief Executive Officer, Mr. Usman Ahmed.  The ceremony was also attended by Citi Malaysia’s Head of Corporate Banking, Ms. Zuliana Tann, Head of Global Subsidiaries Group, Mr. Biplab Banerjee and Head of Treasury and Trade Solutions, Mr. Abdul Jalil Jalaludin; as well as MIDA’s Deputy Chief Executive Officer, Mr. Sivasuriyamoorthy Sundara Raja, and Director of Foreign Investment Promotion, Mr. Faizal Jalaludin.

Mr. Arham Abdul Rahman, CEO of MIDA, appreciated the collaboration to stimulate active business environment in the current economic recovery.  He added, “In response to the changing global business landscape, Malaysia is adopting bold and impactful initiatives to encourage existing as well as new investors and industry players to induce new investments into the country. The MOU with Citi Malaysia signifies MIDA’s continuous commitment in pursuing high technology and high value-added investment projects according to the National Investment Aspiration (NIA) framework and goals of the 12^th Malaysia Plan in driving further economic growth. I trust this partnership will also boost the Government’s on-going efforts to position Malaysia as the pre-eminent preferred investment destination in the region”.

Citi Malaysia Chief Executive Officer, Mr. Usman Ahmed remarked, “Citi Malaysia is very pleased to partner with MIDA as we expand our institutional business in Malaysia and continue to present Malaysia as an attractive investment destination to our clients across the globe. Despite the challenges posed by the Covid-19 pandemic, we have witnessed significant growth in flows across key investment corridors as Malaysia continues to stand out as an important and competitive investment destination. Our Global Subsidiaries and Commercial Banking businesses have been at the forefront in facilitating these flows and the collaboration with MIDA will help both organisations to complement each other’s efforts.”

“We thank MIDA for this opportunity to work together to promote FDI and trade flows. As the world’s most global bank, Citi has a presence in 96 countries and does business in over 160 countries and through this MoU we look forward to harnessing the full potential of our network, world-class products and digital banking capabilities to further deepen our commitment to the country.” he added.

Citi Malaysia’s multinational clients operate in various industries spanning across the high-technology manufacturing, industrials, energy (including renewables), consumer, health care, services as well as hardware and software technology sectors.

Citi Malaysia is also one of the largest market makers for Malaysian Government Securities and is among the top foreign banks in Malaysia for Corporate Foreign Exchange, cross border cash management and institutional investor transactions.

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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 Citi

Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services and wealth management.

Additional information may be found at www.citigroup.com | Twitter: @Citi |

YouTube: www.youtube.com/citi | Blog: http://blog.citigroup.com | Facebook: www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi.

Media Contact:

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

Citi Malaysia:
Sara Yasmine Mohamed
Email: [email protected] | Tel.: +6012 2160022

MIDA Inks MOU with Citi Malaysia on Business Financial Facilitation

KUALA LUMPUR, 8 September 2021 – K-One MediTech Sdn Bhd (K-One MediTech), a wholly-owned subsidiary of K-One Technology Bhd (K-One), is set to develop and manufacture the NASA Jet Propulsion Laboratory (NASA-JPL) licensed ventilators in Malaysia, in a bold determination to meet increasing demands and the changing global landscape of medical devices industry. The company’s research and manufacturing of enhanced models of ventilators will cater to a wider scope of applications for acute respiratory diseases, with add-on smart features such as Internet of Things (IoT), as well as value-add attributes to technological developments of medical devices industry.

Having secured the license to manufacture ventilators developed by NASA-JPL, K-One MediTech has also been awarded a matching grant by the Malaysian Investment Development Authority (MIDA). With MIDA’s facilitation, K-One plans for future development and manufacture of ventilators, perhaps under its own brand. The grant will also support to obtain international markings, such as the Food and Drug Administration (FDA) and the European CE approvals in meeting the American and European standards, which reflects as the gold standard certifications.

Mr. Arham Abdul Rahman, Chief Executive Officer of MIDA expressed, “K-One’s achievement in being the only Malaysian company licensed to produce NASA-JPL’s ventilators, represents a huge leap of the local technological capability towards the production of more complex and high technology medical devices to meet the global demands. Given the escalating demands for ventilators worldwide in managing the Covid-19 pandemic, it is certainly an admirable feat for the company to commit and produce affordable ventilators, making them more accessible, in the fight against Covid-19. With the growing presence of MNCs in Malaysia, domestic manufacturers in the medical device supply chain are also being recognised globally”.

Dato’ Martin Lim Soon Seng, Chief Executive Officer (CEO) of K-One, acknowledged, “We are honoured to be selected and awarded the grant in this challenging recovery period. We believe that the demand for ventilators is always there, even though the Covid-19 pandemic has boosted its requirements.”

He added that the Government support will catalyse and accelerate K-One’s efforts in achieving its aspirations to produce a novel Made in Malaysia ventilator of international standards. The Government’s strong backing will not only nurture the local companies to develop indigenous technology, but also facilitate in uplifting local talents, enhancing supply chain competencies and foreign exchange earnings via export growth.

K-One MediTech expects to benefit commercially from the enhanced ventilators production, while contributing to the domestic and global supply chains. The country should also aim to be self-reliant in ventilator supply through domestic production capacity, crucial in times of crisis. The development and manufacturing processes may also nurture specialised local technical expertise through collaborations with local universities and/or university hospitals, including trainings on specific medical protocols by medical device specialists.

The Government’s continuous commitment to attract high technology investment is reflected through a significant growth of the Malaysia’s medical devices industry over the last few years.  In 2020, the industry has contributed a total of RM6.1 billion worth of investments through 51 projects approved by MIDA. Today, Malaysia comprises over 200 manufacturers producing a broad range of products and equipment for medical, surgical, dental, optical and general health purposes. This has certainly made Malaysia an ideal investment destination, particularly as an outsourcing destination and a medical device manufacturing hub in ASEAN.

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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 K-One

K-One Technology Bhd, with subsidiary, K-One MediTech Sdn Bhd and other subsidiaries (jointly referred to as K-One), is a technology solutions provider driven by electronic manufacturing services (EMS) with focus on healthcare, own brand medical devices and cloud computing solutions. 

Media contacts:

MIDA:

Manjit Kaur Balkar Singh (Ms)

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

K-One:

Choi Keng Mun

Email: [email protected] | Tel.: + 603 7728 1111

K-One Embarks on Ventilator Production, The First in Malaysia