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Malaysia’s Medtech Sector Poised for High-Value Growth

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2 October 2024, Pulau Pinang – The Malaysian Investment Development Authority (MIDA) and the Association of Malaysian Medical Industries (AMMI) today unveiled the AMMI’s Medical Device Industry Status and Outlook 2024/2025 Report: Malaysia, A Medtech Success Story at the Malaysia Medtech Industry Summit 2024 in Penang. This report underscores Malaysia’s position as the leading medtech hub in Southeast Asia, boasting the highest concentration of multinational medtech companies in the region.

Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid, Chief Executive Officer of the Malaysian Investment Development Authority (MIDA), highlighted, “Malaysia’s medtech industry has witnessed impressive growth, and this report affirms our position as a key player in the global medtech landscape. As we look to the future, it’s clear that our professionals are not only masters of their technical craft, but also driven by a commitment to quality and compliance with global standards. This potent combination of talent and government support, as seen in initiatives such as the prioritisation of the medical device sector in the Twelfth Malaysia Plan and the New Industrial Master Plan (NIMP) 2030, has propelled Malaysia to the forefront of medtech innovation. MIDA is dedicated to supporting the sector’s continued expansion through strategic partnerships and proactive measures, and we’re excited to see what the future holds for this dynamic industry.”

AMMI Chairman, Mr. Andy Lee, expressed “Malaysia boasts the largest medical device market in Southeast Asia, with its market size reaching RM10.6 billion in 2023, and ranked among the top ten markets in Asia. Malaysia’s vibrant medical device ecosystem has been instrumental in attracting numerous investments to the country. It extends far beyond traditional manufacturing, offering robust capabilities in sterilisation, biocompatibility testing, packaging and conformity assessment. Malaysia hosts the largest sterilisation capacity in Southeast Asia, providing the most comprehensive range of sterilisation technologies in the region. These include Ethylene Oxide (EtO), Gamma, and Electron beam (E-beam) sterilisation. Furthermore, Malaysia stands as the first country in Southeast Asia to establish an X-ray sterilisation facility. Driven by its sophisticated infrastructure, adherence to international standards, and strong government support, Malaysia is well-positioned to remain competitive on the global stage.”

Demonstrating their confidence in Malaysia’s viability as a MedTech hub, AMMI members have steadily increased their investments. AMMI survey respondents plan to invest a collective amount of RM2.7 billion in expansion, RM927 million in new products and RM162 million in new research and development (R&D)/centre of excellence (COE) and Industry 4.0.

The report also highlights the significant contribution of AMMI to the local economy. Collectively, they sourced RM4.1 billion of raw materials and RM2.5 billion of services from local suppliers and small and medium-sized enterprises (SMEs). Additionally, contracts worth RM1.4 billion were outsourced to local suppliers, with 95% directed toward finished products.

Reflecting Malaysia’s long-term growth, MIDA will continue to collaborate with reputable associations like AMMI to ensure the nation remains attractive to investors. MIDA is committed to rolling out game-changing measures and attracting high-quality investments that generate high-income jobs, increase export value and strengthen Malaysia’s domestic supply chain ecosystem.

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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 Association of Malaysian Medical Industries (AMMI)
Persatuan Industri Perubatan Malaysia
马来西亚医疗器械行业协会

Since its establishment in 1989, the Association of Malaysian Medical Industries (AMMI) has been recognised as the voice of Malaysia’s medical device industry. AMMI’s vision is to make Malaysia the preferred global manufacturing and services location for medical technology. AMMI is represented by 91 members of reputable multi-national and local companies involved in developing and manufacturing medical device products, equipment, and services in Malaysia for the healthcare industry. Collectively, AMMI’s members account for more than half of the medical device export contributions, creating over 54,000 jobs.

Sejak penubuhan pada tahun 1989, Persatuan Industri Perubatan Malaysia (AMMI) telah diiktiraf sebagai suara industri peranti perubatan Malaysia. Visi persatuan adalah membina Malaysia sebagai salah satu pusat pembuatan dan perkhidmatan sedunia bagi industri teknologi perubatan.

AMMI mewakili 91 ahli syarikat bertaraf dunia termasuk multi-nasional dan syarikat tempatan dalam aktiviti pembangunan dan pembuatan peranti perubatan di Malaysia untuk dibekalkan kepada industry kesihatan sedunia. Eksport keseluruhan ahli AMMI mewakili lebih 50% eksport peranti perubatan di Malaysia dan menggaji lebih daripada 54,000 pekerja.

马来西亚医疗器械行业协会创会于1989年，是马来西亚医疗器械行业业者的代表。协会的目标是促进马来西亚成为全球医疗科技的制造与服务基地。
马来西亚医疗器械行业协会有91名会员公司，代表国际和本地的医疗器械厂商。会员公司的医疗器械总出口量超过马来西亚医疗器械一半的总出口量。马来西亚医疗器械行业协会的会员公司也为业界提供了超过五万四千个工作机会。

For more information, please contact:

MIDA:
Ms. Azlina Hamdan
Director, Life Sciences and Medical Technology Division, MIDA
Tel: +603-2267 3791
Email: [email protected]

AMMI:
Mr. CS Ching 庄骏雄
Executive Director
Tel: +6012 – 4766 558
Email : [email protected]

Malaysia’s Medtech Sector Poised for High-Value Growth

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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.

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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

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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.

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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 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

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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.

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About Malaysian Investment Development Authority (MIDA)

MIDA is the Government’s principal investment promotion and development agency under the Ministry of 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

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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.

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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

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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.

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About MIDA

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

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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.

***THE END***

About MIDA

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

Infographic (English)

Infographic (BM)

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

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

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

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

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

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

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

*****

About MIDA

About InvestKedah

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

About Zhuhai CosMX Battery Co Ltd

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

Media Contacts:

MIDA

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

InvestKedah

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

Zhuhai CosMX Battery Co Ltd

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

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

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

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

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

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

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

**The End**

About MIDA

About RIGOL Technologies, Inc

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

Media contacts:

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

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

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

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

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

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

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

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

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

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

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

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

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

Dikeluarkan oleh:

KOMUNIKASI KORPORAT MCMC & MIDA

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

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

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

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

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

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

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

**The End**

About MIDA

Media Contacts

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

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

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Kuala Lumpur, California, 8 August 2024 – Enovix Corporation (“Enovix”) (Nasdaq: ENVX), a global leader in high-performance battery technology, is proud to announce the grand opening of its first high-volume manufacturing facility (“Fab2”) in Malaysia. This state-of-the-art facility has already commenced the production of high-energy density batteries and is currently hosting visits from leading global customers. Enovix plans to invest a total of USD1.2 billion (RM5.8 billion) in Malaysia over the next 15 years.

YB Senator Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz, Minister of Investment, Trade, and Industry (MITI), stated, “Enovix’s Fab2 is a huge step for Malaysia in the global supply chain for advanced battery technologies, highlighting our country’s conducive investment landscape. It also fulfils our objective to attract the right high-tech industries to enhance the nation’s economic complexity, as outlined in the New Industrial Master Plan (NIMP) 2030. We welcome this new facility, which is a significant milestone for Enovix, and strongly supports our NIMP’s goals by fostering innovation, creating high-value jobs, and driving sustainable growth, while increasingly positioning Malaysia a global hub for cutting-edge technology.”

Present at the ceremony today were YB Jagdeep Singh Deo, Penang’s Deputy Chief Minister II as well as senior officials of the Malaysian Investment Development Authority (MIDA), extended a warm welcome to Enovix for selecting Malaysia as the location for its state-of-the-art facility.

YB Jagdeep Singh Deo stated, “Today’s opening ceremony for the establishment Enovix’s first high-volume manufacturing facility in Malaysia signifies the beginning of an exciting chapter for the company. The State is honoured to be selected to house this esteemed facility which will definitely bring positive technological and economic spillovers for not only Penang, but the northern region of Malaysia.”

Sikh Shamsul Ibrahim Sikh Abdul Majid, Chief Executive Officer (CEO) of MIDA, expressed, “Enovix’s significant investment in Malaysia will create jobs and enhance our workforce’s technological capabilities. MIDA is proud to support Enovix in their mission to revolutionise battery technology, and we believe that their cutting-edge expertise will have a multiplier effect on our local ecosystem. As a partner, we’re committed to providing Enovix with the support and facilitation they need to succeed, and we’re confident that their presence will have a positive impact on the nation’s economy and rakyat. We’re looking forward to working closely with Enovix to achieve their goals and make a difference in the industry.”

Dato’ Ajay Marathe, Chief Operating Officer of Enovix, said, “We are thrilled to open our doors at Fab2 and showcase our advanced manufacturing process of a cutting-edge batteries that we believe will usher in a new era of products for leading customers. We have been able to draw upon Malaysia’s deep pool of technical talent and are appreciative of the country’s business-friendly climate and close proximity to our customers and vendors.”

Enovix, headquartered in the United States of America, also operates in India, Korea and Malaysia. Enovix’s innovative battery technology is utilised across a diverse range of application, including internet of things (IoT), mobile phones, computing devices and vehicles.

-ENDS-

About MIDA

About InvestPenang

About Enovix

Enovix is on a mission to deliver high-performance batteries that unlock the full potential of technology products. Everything from IoT, mobile, and computing devices, to the vehicle you drive, needs a better battery. Enovix partners with OEMs worldwide to usher in a new era of user experiences. Our innovative, materials-agnostic approach to building a higher performing battery without compromising safety keeps us flexible and on the cutting-edge of battery technology innovation.

This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, about us and our industry that involve substantial risks and uncertainties. Forward-looking statements generally relate to future events or our future financial or operating performance. In some cases, you can identify forward-looking statements because they contain words such as “will,” “goal,” “prioritize,” “plan,” “target,” “expect,” “focus,” “look forward,” “opportunity,” “believe,” “estimate,” “continue,” “anticipate,” and “pursue” or the negative of these terms or similar expressions. Forward-looking statements include, but are not limited to, statements regarding our expectations regarding, and our ability to respond to, market and customer demand, commercialization and R&D activities. Forward looking statements also include the following: Enovix’s investment in Malaysia over the long term, the partnership with YBS, and the ability to realize tax incentives from Malaysia. Actual results could differ materially from these forward-looking statements as a result of certain risks and uncertainties, including, without limitation, our ability to improve energy density among our products, our ability to establish sufficient manufacturing and optimize manufacturing processes to meet demand, sourcing or establishing supply relationships, adequate funds to acquire our next manufacturing facility, market acceptance of our products, changes in consumer preferences or demands, changes in industry standards, the impact of technological development and competition, and global economic conditions, including inflationary and supply chain pressures, and political, social, and economic instability, including as a result of armed conflict, war or threat of war, terrorist activity or other security concerns or trade and other international disputes that could disrupt supply or delivery of, or demand for, our products. For additional information on these risks and uncertainties and other potential factors that could affect our business and financial results or cause actual results to differ from the results predicted, please refer to our filings with the Securities and Exchange Commission (the “SEC”), including in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of our most recently filed annual report on Form 10-K and quarterly report on Form 10-Q and other documents that we have filed, or that we will file, with the SEC. Any forward-looking statements made by us in this release speak only as of the date on which they are made and subsequent events may cause these expectations to change. We disclaim any obligations to update or alter these forward-looking statements in the future, whether as a result of new information, future events or otherwise, except as required by law.

For media enquiries, please contact:

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

InvestPenang
Elaine Cheah / Michelle Goy
Communications & Business Intelligence
Email: [email protected] / [email protected]
Tel: +604- 646 8833

Enovix Corporation
Charles Anderson
Email: [email protected]
Phone: +1 (612) 229-9729

Enovix Corporation Inaugurates Its USD1.2 Billion High-Volume Manufacturing Facility in Malaysia

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

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

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

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

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

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

From left: Mr. Mohamad Reduan Mohd Zabri, Director of MIDA Johor; Mr. Hu Aimin, Chief Executive Officer (CEO) of iMin Technology; YB Lee Ting Han, Johor State Executive Member and Chairman of Investment, Trade, Consumer Affairs and Human Resources Committee; Mr. Vinothan Tulisinathzan, Director of MIDA Singapore; and Mr. Richard Xu, Partner Imin Technology.

***The End***

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

For media enquiries:

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

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

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

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Penang, July 26, 2024 – Plexus Corp. (NASDAQ: PLXS), a global leader in partnering with companies to create products that build a better world, celebrated a significant milestone today with the groundbreaking ceremony of its sixth facility in Penang, Malaysia. The state-of-the-art facility, named “Plexus Bridgeview”, is located in the Bandar Cassia Technology Park and spans a sprawling 20-acre plot, encompassing an impressive 560,000 sq. ft. cutting-edge infrastructure. Plexus estimates an investment of RM1 billion over the next three years, signalling its commitment to growth in Malaysia and the Asia-Pacific region.

With a footprint established in Malaysia over 20 years ago, Plexus employs more than 10,000 team members across five manufacturing sites and one design centre in Penang. This new upscale facility will enable the expansion of their Semiconductor Capital Equipment business, supporting Malaysia’s New Industrial Master Plan (NIMP) 2030, and the ongoing growth of their business supporting leading Healthcare and Life Sciences companies. This expansion will also create approximately 1,800 new high-skilled job opportunities in the region.

The Minister of Investment, Trade and Industry (MITI), YB Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz congratulated the company, stated, “Plexus’ RM1-billion expansion clearly affirms Malaysia’s position not only as a preferred investment destination for tech-based MNCs, but also as a country that is serious about the swift implementation of investors’ commitments. In line with the targets of the New Industrial Master Plan (NIMP) 2030, this project will create a ripple effect by generating high-skilled job opportunities and developing our E&E supply chain ecosystem to serve a growing global semiconductor, and healthcare device markets. This also supports our efforts in positioning Malaysia as a regional manufacturing and services hub for ASEAN and Asia.”

Mr. Sikh Shamsul Ibrahim Sikh Abdul Majid, Chief Executive Officer of the MIDA, commented, “MIDA is thrilled to see Plexus’ trust and commitment to expanding its operations in Malaysia with the establishment of its sixth manufacturing plant. Our country’s robust electrical and electronics (E&E) ecosystem, the exceptional capabilities of our local talent, and our well-developed semiconductor supply chain provide the perfect foundation for investors like Plexus. We are buoyed by the opportunities this investment will bring for Plexus, the local community, and the industry, and we look forward to Plexus’s continued advancement in Malaysia.”

Mr. Victor Tan, Plexus’s Regional President APAC, stated “The establishment of the new Plexus Bridgeview facility demonstrates our commitment to growth within the region, and provides a strong opportunity to meet the growing needs of our valued customers. We are grateful for the facilitation and continued support of MITI, MIDA and Invest Penang to help enable these important milestones on Plexus’ growth journey.”

Plexus is committed to sustainability throughout its global business operations. The company continues to elevate the standards of business conduct and integrate sustainable and responsible business practices into its enduring strategy. Through focused efforts around product impact, environmental impact, social impact and sound corporate governance, the company is able to deliver differentiated value to various stakeholders.

As part of its commitment to being a sustainable and responsible business partner, Plexus contributes to non-profit causes within Malaysian communities and encourages employee volunteerism through charitable giving initiatives, STEM education sponsorships and collaborations. Notably, Plexus has installed solar panels at the Plexus Islandview and Seaside facilities and plans to continue this effort across all remaining facilities to reduce its carbon footprint.

Plexus is excited to embark on this ambitious endeavour of establishing a new facility and looks forward to contributing to the realisation of Malaysia’s NIMP2030, fulfilling the company’s vision of creating products that build a better world.

**END**

About MIDA

About Plexus

Since 1979, Plexus has been partnering with companies to create the products that build a better world. We are a team of over 20,000 individuals who are dedicated to providing Design and Development, Supply Chain Solutions, New Product Introduction, Manufacturing and Sustaining Services. Plexus is a global leader that specializes in serving customers in industries with highly complex products and demanding regulatory environments. Plexus delivers customer service excellence to leading companies by providing innovative, comprehensive solutions throughout a product’s lifecycle. For more information about Plexus, visit our website at www.plexus.com.

For more information, please contact:

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

Plexus
Media Contact in Penang, Malaysia
Yew-Choong Saw
+60.4.632.2080
[email protected]

Investor Contact
Shawn Harrison
+1.920.969.6325
[email protected]

Safe Harbor and Fair Disclosure Statement

The statements contained in this press release that are guidance or which are not historical facts (such as statements in the future tense and statements including believe, expect, intend, plan, anticipate, goal, target and similar terms and concepts), including all discussions of periods which are not yet completed, are forward-looking statements that involve risks and uncertainties. These risks and uncertainties include the ability to realize anticipated savings from restructuring or similar actions, as well as the adequacy of related charges as compared to actual expenses; the effect of inflationary pressures on our costs of production, profitability, and on the economic outlook of our markets; the effects of shortages and delays in obtaining components as a result of economic cycles, natural disasters or otherwise; the risk of customer delays, changes, cancellations or forecast inaccuracies in both ongoing and new programs; the lack of visibility of future orders, particularly in view of changing economic conditions; the economic performance of the industries, sectors and customers we serve; the outcome of litigation and regulatory investigations and proceedings, including the results of any challenges with regard to such outcomes; the effects of tariffs, trade disputes, trade agreements and other trade protection measures; the effects of the volume of revenue from certain sectors or programs on our margins in particular periods; our ability to secure new customers, maintain our current customer base and deliver product on a timely basis; the risks of concentration of work for certain customers; the particular risks relative to new or recent customers, programs or services, which risks include customer and other delays, start-up costs, potential inability to execute, the establishment of appropriate terms of agreements, and the lack of a track record of order volume and timing; the effects of start-up costs of new programs and facilities or the costs associated with the closure or consolidation of facilities; possible unexpected costs and operating disruption in transitioning programs, including transitions between Company facilities; the risk that new program wins and/or customer demand may not result in the expected revenue or profitability; the fact that customer orders may not lead to long-term relationships; our ability to manage successfully and execute a complex business model characterized by high product mix and demanding quality, regulatory, and other requirements; the risks associated with excess and obsolete inventory, including the risk that inventory purchased on behalf of our customers may not be consumed or otherwise paid for by the customer, resulting in an inventory write-off; risks related to information technology systems and data security; increasing regulatory and compliance requirements; any tax law changes and related foreign jurisdiction tax developments; current or potential future barriers to the repatriation of funds that are currently held outside of the United States as a result of actions taken by other countries or otherwise; the potential effects of jurisdictional results on our taxes, tax rates, and our ability to use deferred tax assets and net operating losses; the weakness of areas of the global economy; the effect of changes in the pricing and margins of products; raw materials and component cost fluctuations; the potential effect of fluctuations in the value of the currencies in which we transact business; the effects of changes in economic conditions, political conditions and tax matters in the United States and in the other countries in which we do business; the potential effect of other world or local events or other events outside our control (such as the conflict between Russia and Ukraine, conflict in the Middle East, escalating tensions between China and Taiwan or China and the United States, changes in energy prices, terrorism, global health epidemics and weather events); the impact of increased competition; an inability to successfully manage human capital; changes in financial accounting standards; and other risks detailed herein and in our other Securities and Exchange Commission filings, particularly in Risk Factors contained in our fiscal 2023 Form 10-K.

Plexus Breaks Ground on Sixth Manufacturing Facility, Part of RM1-Billion Expansion in Malaysia

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Kuala Lumpur, 25 July 2024 – The Malaysian Investment Development Authority (MIDA) and Invest Selangor Berhad (ISB) co-hosted the MIDA Invest Series – Selangor: Unfolding Its Business Potential, a collaborative event aimed at showcasing the state’s investment landscape and opportunities. The event held at the Kuala Lumpur Convention Centre, attracted 200 participants, featuring leaders from local and international industries, industrial developers, government representatives, entrepreneurs, and senior executives from a wide range of sectors, including the manufacturing and services sectors.

The event commenced with a warm welcome from Mr. Sikh Shamsul Ibrahim Sikh Abdul Majid, Chief Executive Officer of MIDA. This was followed by insightful remarks from YB Senator Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz, Minister of Investment, Trade and Industry (MITI), and a keynote address by YAB Dato’ Seri Amirudin Bin Shari, Chief Minister of Selangor.

Three dynamic sessions followed, each highlighting Selangor’s remarkable success stories, aspirations from key leaders at MIDA and Invest Selangor, and the future of industrial park development in the state. Esteemed speakers from relevant state agencies led these sessions, providing invaluable insights.

YAB Dato’ Seri Amirudin Bin Shari, Chief Minister of Selangor in his address, said “SPARK 2024 Expo and MIDA Invest Series: Selangor Edition forum are being done concurrently, to provide an opportunity for investors, to obtain pertinent information and to meet the federal and state government for consultation sessions on project implementations. I welcome (investors) to optimise your time in these three days to meet and discuss your projects with Invest Selangor and MIDA officials, as well as the relevant local authorities and technical agencies.”

YB Senator Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz, Minister of Investment, Trade and Industry highlighted, “Selangor has performed commendably, attracting RM12.4 billion of approved investments for Q1 2024. Through significant investments over the years, the state’s manufacturing and export industries have also grown steadily. Selangor now offers a variety of products and services, as it continues to establish itself as a hub of innovation and growth in Malaysia. All these bode well for Malaysia’s ambition to establish itself as a regional manufacturing and services hub, and Selangor plays a crucial role in helping us achieve this goal. As we move forward, we must build on this momentum and leverage Selangor’s strengths to drive Malaysia’s growth and development towards becoming a high-income economy by 2025.”

Mr. Sikh Shamsul Ibrahim Sikh Abdul Majid added, “Following the success of the first Invest Selangor series back in August 2019, we are excited to witness the growth and expansion of this initiative in 2024. This year’s event, in collaboration with the Selangor Investment Industrial Park Expo, or SPARK, represents a significant advancement in our efforts. The collaboration with Invest Selangor Berhad (ISB) is instrumental in broadening our outreach and strengthening Selangor’s position as an investor’s magnet. This expansion signifies our unwavering commitment to elevating Selangor’s status and creating an even more attractive proposition for investors.”

Selangor’s strength lies in its strategic geographical position, abundant natural resources, and well-developed transportation network. Home to three major ports and an international airport, Selangor serves as a crucial air and sea transport hub, attracting significant interest from investors. The state’s mature agricultural sector and monopolised trade fairs further enhances its economic appeal

In the first quarter of 2024, Selangor secured RM3.1 billion in approved investments, with contributions from 74 projects, poised to create 4,206 potential employments in the state. This early success indicates a promising year ahead, solidifying Selangor’s position as a top destination for both foreign and local investments.

As of 2023, the state of Selangor contributed 25.9% to the national GDP and exceeds the national growth rate. Selangor remains a vital contributor to Malaysia’s GDP, with its main trade flow accounting for 17.67% of national exports. The state’s economic contributions are driven predominantly by the manufacturing sector, particularly Electrical & Electronics (E&E) such as semiconductors, positioning Selangor as one of the major exporters in the country. Selangor’s impressive investment achievements underscore its strategic importance and economic resilience.

Recognising the need to boost output and income, the Selangor Government implemented the Selangor Development Plan 1 (RS-1) from 2002 to 2005. The plan aims for Selangor to become a Smart, Livable, and Prosperous state by 2025. This comprehensive initiative underscores the state’s commitment to sustainable and inclusive growth, emphasising high-tech industries and infrastructure development, such as a comprehensive highway network and a mature ICT industry.

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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 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 Invest Selangor Berhad:

Invest Selangor Berhad (ISB) is the state government agency responsible for promoting and facilitating investment in Selangor, Malaysia. With its commitment to providing investors with the ease of doing business, ISB ensures investors have a hassle-free investment journey. The agency offers a comprehensive suite of services, including site selection assistance, investment facilitation and aftercare services. ISB is dedicated to providing investors with a conducive business environment, which includes streamlined procedures, efficient services, and access to industry insights and networks. This commitment to investors ease of mind has made Selangor an attractive investment destination for local and international investors. With ISB’s support, investors can focus on their business operations and leave the administrative matters to the agency, giving them the peace of mind they need to grow their investments in Selangor.

FOR MORE INFORMATION, PLEASE CONTACT:

Malaysian Investment Development Authority (MIDA)
En. Sukri Abu Bakar
Director, Domestic Investment Division
Email: [email protected]
DL: +603-2267 3685

Invest Selangor Berhad
Nur Azyyana Abu Bakar
Senior Manager, Strategic Planning and Communications Division
Email: [email protected]
DL: +603 5510 205

Selangor Unfolding Its Business Potential At MIDA Invest Series 2024

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Kuala Lumpur, 23 July 2024 – The Malaysian Investment Development Authority (MIDA) congratulates Sarawak Petchem Sdn. Bhd.’s (Sarawak Petchem) for the launch of its cutting-edge Methanol Complex in Tanjung Kidurong, Bintulu, Sarawak. This significant project, with an annual production capacity of 1,750,000 metric tonnes, solidifies the company’s position as Malaysia’s second-largest methanol producer after PETRONAS Chemical.

With the commissioning of Sarawak Petchem’s methanol plant, Malaysia has emerged as the leading methanol producer in the Asia Pacific region. The availability of methanol in Malaysia, particularly in Sarawak, is expected to drive further investments and stimulate the production of other downstream products. Methanol is a critical raw material for the production of chemicals such as acetic acid and formaldehyde, which are essential in industries including adhesives, solvents, and foams.

YB Senator Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz, Minister of Investment, Trade, and Industry (MITI), lauded the company, highlighting, “The establishment of Sarawak Petchem’s RM7 billion methanol complex in Sarawak is a defining milestone in helping establish Malaysia as a leading methanol producer in the Asia Pacific region. This will not only advance Malaysia’s capabilities in the chemical industry, as envisaged by the Chemical Industry Roadmap (CIR) 2030, but also drive job creation and stimulate our economy by providing opportunities to surrounding industries and SMEs.”

Mr. Sikh Shamsul Ibrahim Sikh Abdul Majid, the Chief Executive Officer of the Malaysian Investment Development Authority (MIDA) stated, “This milestone achievement by Sarawak Petchem is a testament to Malaysia’s attractiveness as a destination for large-scale, high-impact investments. All of this is a prelude as we move forward with the New Industrial Master Plan (NIMP) 2030 and CIR 2030, we are committed to driving high-value addition and diversifying into higher value-added products that will propel our economy forward. We are confident that this project will encourage further growth and investment in the region. Rest assured, we will continue rendering the necessary facilitation to Sarawak Petchem in their journey to become a leading entity in the global petrochemical industry.

According to Sarawak Petchem Chairman, Tan Sri Datuk Amar (Dr) Haji Abdul Aziz Husain, “The project also served as a catalyst for more economic development in this region, driving job creation, fostering sustainable growth and strategically positioning Sarawak as a key player in the global petrochemical industry”.

“The establishment of Sarawak Petchem has also provided a platform for Sarawak to develop and attract skilled workforce to come and work in Sarawak. In fact, some Sarawakians have returned to work with Sarawak Petchem to complete this project,” he said.

This project is part of the Sarawak State Government’s effort to establish Bintulu as a Petrochemical Hub in the region. The plant will require skilled personnel, predominantly engineers, technicians, operators, and specialists, to oversee its operations. Additionally, there will be secondary opportunities stemming from the plant’s operation, including services and maintenance.

Malaysia hosts a significant petrochemical industry comprising over 100 companies that manufacture a diverse range of chemical products. Foreign investments in the country has increased in recent decades, driven by its access to oil and gas resources, extensive infrastructure, a strong services sector, and a strategically advantageous geographic location that serves important markets in Asia and the Middle East. Malaysia’s petrochemical production currently focuses on olefins, polymers, and aromatics, with ambitious plans to advance into more sophisticated specialty chemicals beyond basic commodities.

*****

For more information, please contact:
MIDA
Ms. Siti Halimaton Mohd. Rejab
Director, Chemical and Advanced Materials Division, MIDA
Email: [email protected]
Tel: +603-2267 6701

MIDA Congratulates Launch Of Sarawak Petchem’s Rm7 Billion Methanol Complex, Catalysing Bintulu’s Rise As A Petrochemical Hub

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Kuala Lumpur, 17 July 2024 – The Malaysian Investment Development Authority (MIDA) and the Sarawak State Government have successfully organised the first installment of the MIDA Invest Series – Sarawak: Unfolding Its Business Potential. This significant event aims to highlight Sarawak’s dynamic business landscape, presenting untapped business and investment opportunities, and facilitating engagement with key state agencies and stakeholders. Held at MIDA Sentral in Kuala Lumpur, the event has garnered over 200 participants, including industry leaders, government officials, entrepreneurs, and senior management from various sectors.

The event was graced by YAB Datuk Patinggi Tan Sri (Dr) Abang Haji Abdul Rahman Zohari Tun Datuk Abang Haji Openg, Premier of Sarawak, and attended by YB Senator Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz, Minister of Investment, Trade and Industry (MITI), YB Datuk Amar Haji Awang Tengah Ali Hasan, Deputy Premier/Second Minister Natural Resources and Urban Development/Minister for International Trade, Industry and Investment Sarawak, YBhg. Datuk Bahria Mohd. Tamil, Deputy Secretary General of MITI, YBhg. Tan Sri Dato’ Seri Dr. Sulaiman Mahbob, Chairman of MIDA, and Mr. Sikh Shamsul Ibrahim Sikh Abdul Majid, Chief Executive Officer (CEO) of MIDA. The event also saw the participation from heads of state and federal governments’ department and agencies.

YAB Datuk Patinggi Tan Sri (Dr) Abang Haji Abdul Rahman Zohari Tun Datuk Abang Haji Openg, Premier of Sarawak in his address, said “There are huge opportunities for investors to collaborate with Sarawak and grow the clean energy generation sector. We are currently prioritising key areas such as Large-Scale Solar, BioEnergy including Biogas and Biomass, Waste to Energy, Pump Hydro Storage to address the intermittency of Variable Renewable Energy, and many more clean energy generation technologies that can be commercially deployed in Sarawak.”

YB Senator Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz, MITI Minister highlighted, “The recent approval of the Green Investment Strategy (GIS) by the National Investment Council marks a significant milestone in our efforts to drive sustainable socio-economic development. The GIS aims to effect Malaysia’s energy transition and attract green investment in a more systematic way. In terms of targets, our aim is to attract roughly eight times the current value of green investments into Malaysia, guided by the seven low-carbon thrusts; as well as leveraging foreign investments in green technology and improving the green investment ecosystem. Sarawak’s ambitious green energy agenda, which aims to decarbonise its transport system and transition towards a low-carbon economy, is highly complementary to our national-level strategy on green investments, the NIMP and the NETR.”

YB Datuk Amar Haji Awang Tengah Ali Hasan, Deputy Premier/Second Minister Natural Resources and Urban Development/Minister for International Trade, Industry and Investment Sarawak said, “Sarawak offers a compelling value proposition across various economic sectors aligned with Sustainable Development Goals and ESG principles. These principles are integral parts of our development strategy. Therefore, unfolding a sustainable future for Sarawak is about showcasing balanced economic growth with environmental stewardship and inclusive future.”

Mr. Sikh Shamsul Ibrahim Sikh Abdul Majid, CEO of MIDA said, “One of the core reasons MIDA Invest Series events are held is to help all states achieve their full potential in bringing about development. MIDA organises such strategic promotional events to highlight each state and region’s unique comparative and competitive advantages. This programme aims to provide the business community with essential information on government facilities and initiatives designed to build and sustain the competitive edge of domestic companies. Additionally, we strive to keep everyone informed about the latest industry and investment developments. Today, we continue the momentum by spotlighting the business and investment opportunities in Sarawak”.

The programme featured three insightful sessions that highlighted Sarawak’s strategic initiatives and investment opportunities in key sectors, sustainable port infrastructure development, and the roadmap of digital economy and digital transformation in Sarawak, presented by esteemed speakers from relevant state agencies.

Sarawak stands at the forefront of investment potential, driven by its vast natural resources, strategic initiatives and recent advancements. In 2023, Sarawak achieved a significant milestone with a total approved investment of RM7.8 billion in manufacturing and selected services which are under MIDA’s purview, reflecting substantial growth of 387.5% compared to 2022. This upward trajectory is expected to continue in 2024, with Sarawak securing RM1.3 billion in approved investments under the same sectors in the first quarter (January to March), contributed by the foreign private investment, encompassing 8 projects expected to create 1,171 potential employments in Sarawak.

**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 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 Ministry of Industrial Development (MINTRED) Sarawak:

The Ministry of International Trade, Industry and Investment (MINTRED) Sarawak has been established since 1987. Headquartered in Kuching, it is Sarawak’s lead government agency to spearhead the development of industries and small and medium enterprises as well as promote international trade and investment. MINTRED aims to provide effective facilitation, coordination and support to make Sarawak the preferred investment destination and trading partner. For more information, please visit http://mintred.sarawak.gov.my.

FOR MORE INFORMATION, PLEASE CONTACT:

Malaysian Investment Development Authority (MIDA)
Mr. Sukri Abu Bakar
Director, Domestic Investment Division
Email: [email protected] l DL: +603-2267 3685

Ministry of Industrial Development (MINTRED) Sarawak
Ms Lo Sheau Sia
Deputy Permanent Secretary
Email: [email protected] l DL: +6082495748

MIDA and Sarawak State Government Unveil Landmark Investment Opportunities at MIDA Invest Series Event

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Kuching, Sarawak, Malaysia – July 10, 2024 – Melexis, a global microelectronics engineering company, has opened its largest wafer testing site worldwide in Kuching, Malaysia. This expansion signals Melexis’ commitment to meeting the increasing demand for semiconductors and strengthening its presence in the Asia-Pacific region.

The expansion of Melexis in Malaysia marks a significant milestone in the company’s 35-year journey to fulfil the growing global demand for semiconductors, which is expected to double in the next decade. It hosts 90 semiconductor wafer test equipment used to test Integrated Circuits (ICs). Melexis continues to innovate in edge sensors and edge drivers aimed at current and future applications in the mobility, sustainability, robotics, and health areas. The expansion will serve all of these applications.

Placing the facility in Kuching – Sarawak – Malaysia, member of the Association of Southeast Asian Nations (ASEAN), between Eastern and Western markets and next to X-FAB’s wafer foundry, one of Melexis’ key suppliers, is a strategic move to streamline logistics and help reducing the company’s ecological footprint. Additionally, Kuching boasts a diverse, multilingual, entrepreneurial and skilled workforce, further enhancing recruitment potential.

Sustainable and future-proof

The new 4-storey building, designed by award-winning Belgian architect Sebastian Mortelmans together with Sarawakian architects DNA, covers a ground surface of 4,500 square metres, making it the largest Melexis wafer testing site worldwide. The modern design referencing local longhouse architecture, incorporates advanced energy-saving systems, a solar installation that can generate 30,000 kWh per month, and minimises the environmental footprint.

Françoise Chombar, Chairwoman of the Board at Melexis, highlights the significance of the sustainable and future-proof building, stating, “Our continuous search for better solutions led us to this new, beautiful building that embodies the values of Melexis: innovation with heart, keeping in mind our people and the planet. We are proud of how sustainable the building is, having learned from previous experiences. This expansion will allow Melexis to serve the steadily increasing global demand for semiconductor solutions and signals our continued commitment towards our Asian customers.”

Additionally, like a longhouse, the facility is designed with future expansions in mind, ensuring adaptability and scalability to meet growing demands. It will foster the Research and Development activities that Melexis has recently started up in Kuching.

Most of all, the building respects local traditions and has been designed to promote the well-being of the people working inside, allowing natural light to flow throughout the spacious modular offices as well as the manufacturing areas, and with vista’s of the nearby Sarawak river and Mount Santubong.

Significance of Malaysia

To broaden Melexis’ presence in the Asia-Pacific market, Malaysia is an optimal choice geographically, culturally, and economically. Both the local Sarawak government and federal Malaysian government actively support initiatives to grow the semiconductor ecosystem.

YB Senator Tengku Datuk Seri Utama Zafrul Aziz, Minister of Investment, Trade, and Industry (MITI) stated, “The opening of Melexis’ largest global wafer testing facility in Sarawak reflects Malaysia’s strong execution of investment projects, while further strengthening the country’s position in the global semiconductor supply chain. As Melexis helps drive Malaysia’s technological advancement, it will also create significant socio-economic spillover that will benefit the surrounding businesses and communities, contributing to more inclusive and broad-based growth outlined in the New Industrial Master Plan 2030.”

Ministry of International Trade, Industry and Investment (MINTRED) Sarawak added “Melexis has made the right choice to invest in Sama Jaya High Tech Park, Kuching, Sarawak. With political stability, Sarawak is business friendly and welcomes investments that can create mutual benefits. Sarawak Government has always been very supportive of investors both foreign and domestic. It is among the most preferred destinations for investment in Malaysia. Sarawak possesses many comparative advantages for businesses to grow and prosper such as strategic location, availability of green energy, talented workforce, and suitable land for industrial activities.

Echoing these sentiments, Mr. Sikh Shamsul Ibrahim Sikh Abdul Majid, CEO of the Malaysian Investment Development Authority (MIDA), stated, “Melexis’ newest facility is a testimonial to Malaysia’s favourable value propositions for quality investments, while underscoring the Government’s role, through MIDA, in ensuring seamless support and collaboration with international investors. By providing comprehensive assistance, we aim to create a conducive environment for technological growth and sustainability. This includes facilitating access to necessary resources and streamlining administrative processes that align with our national vision. We assure to facilitate Melexis’ integration into our ecosystem, ensuring they have the support needed to thrive and contribute significantly to our technological landscape.”

Looking ahead: innovation and growth

Today’s grand opening, in presence of the Right Honourable Premier of Sarawak and Chairwoman of Melexis Françoise Chombar, marks the gratitude of Melexis towards all that have contributed to the fast-track expansion of Melexis in Kuching, and not in the least towards both the local Sarawak and federal Malaysian authorities.

Melexis is also pursuing further collaborations with universities and other partners to promote regional innovation and growth. One such initiative is the Local Pioneer Talent Program, a collaboration with universities and Sarawak Microelectronics Design (SMD), a government agency focused on research and development, which officially began in 2023.

The opening further emphasises the growth and innovation ambitions of Melexis. Marc Biron, CEO of Melexis: “With an investment of 70 million euros, this opening underscores the ambition of Melexis and will ensure future growth. With Melexis, we are at the forefront of innovation, and this opening will support us in the markets that we serve.”

-END-

About MIDA

About MINTRED

About Melexis

Melexis designs, develops, and delivers edge sensor and driver solutions with a heart for people and planet. Its mission is to empower engineers to turn their ideas into applications that support the best imaginable future, one that is safe, comfortable and sustainable.
Melexis specializes in powertrain, thermal management, lighting, e-brake, e-steering and battery solutions for the automotive sector. It also expands its presence in the emerging markets of sustainable world, alternative mobility, robotics, and digital health.

Founded in 1989 in Belgium, Melexis has grown to employ over 2,000 people in 12 countries, delivering cutting-edge technology to customers worldwide.

For more information, visit www.melexis.com or follow Melexis on LinkedIn, and YouTube.

For more information, please contact:

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

MINTRED
Ministry of International Trade, Industry And Investment
2nd, 12th, 13th & 14th Floor,
Wisma Sumber Alam, Jalan Stadium,
Petra Jaya 93050 Kuching, Sarawak.
93050 Kuching,Sarawak, Malaysia
Tel: (60)82-495777
Fax : (60)82-495790
Email: [email protected]

Melexis
Team Lewis
Email: [email protected]
Tel. (French, English): +32 472 31 69 04
Tel. (Dutch, English): +32 473 38 37 85

Melexis Opens Its Largest Wafer Testing Site Worldwide in Malaysia, Marking Strategic Expansion

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In Q12024, the plastic industry recorded RM565 million in approved investments, projected to generate 1,018 new job opportunities.
Emphasis on advancing towards a circular economy with increased recycling activities and new markets for advanced recycling technologies.
Continued partnership between MIDA and MPMA to drive innovation and sustainable practices in the plastics sector.

Kuala Lumpur, 26 June 2024 – The Malaysian Investment Development Authority (MIDA) and the Malaysian Plastics Manufacturers Association (MPMA) co-organised the MIDA-MPMA Conference on Government Facilitation and Assistance for Circular and Low Carbon Economy at Avante Hotel, Petaling Jaya today. With almost 100 participants, the Conference was successfully organised to provide insight into various government policies, facilitations and assistance for the manufacturing sector specifically the plastic industry.

The MIDA-MPMA Conference featured sessions by speakers from the Ministry of Investment, Trade and Industry (MITI), Ministry of Economy, Malaysian Investment Development Authority (MIDA), Malaysia External Trade Development Corporation (MATRADE), Bursa Carbon Exchange, Alliance Bank, and Argus Media.

The plastics industry, intricately linked with Malaysia’s economic growth, has evolved into a high-tech, capital-intensive sector. Its versatility is showcased in products across various industries, making it a cornerstone for sectors like E&E, automotive, aerospace, medical devices, and food packaging.

In 2023, the plastics industry attracted RM4.1 billion in investments across 81 projects, with RM3.21 billion (78%) from foreign sources and RM889 million (22%) from domestic sources. These projects are expected to create 4,249 job opportunities. In Q1 2024, the industry recorded RM565 million in investments, projected to generate 1,018 job opportunities.

MIDA Chief Executive Officer, Mr. Sikh Shamsul Ibrahim Sikh Abdul Majid, stated, “The growth and transformation of the plastics industry in Malaysia are remarkable, showcasing our nation’s commitment to innovation and sustainability. As we advance towards a circular economy, we see a significant increase in recycling activities, creating new markets for advanced recycling technologies. Our continued progress in this sector is a testament to Malaysia’s dedication to environmental stewardship and economic growth. Malaysia is committed to achieving net zero carbon by 2050. To this end, MIDA is working closely with MPMA to drive industry collaboration and understand the demand and supply of recycled plastic resources, which are crucial for many industry players in their decarbonisation efforts.

He added, “For companies that wish to partake in this journey but are unsure how to get going, they can take advantage of the Automation Capital Allowance, which has been extended until 31 December 2027 and enhanced to cover Industry 4.0 elements, with the capital expenditure limit increased to RM10 million. Additionally, MIDA has introduced the Domestic Investment Accelerator Fund (DIAF), a matching grant aimed at local SMEs and Mid-Tier Companies to foster automation, digitalisation, and ESG practices, and the Foreign Investment Accelerator Fund (FIAF) to facilitate the transfer of high-tech know-how through R&D and training initiatives.”

Speaking at the opening of the Conference, Mr. CC Cheah, President of MPMA said that the main challenge facing the industry is many of the plastics are disposed after used. Therefore, enhancing the recycling rate will help to reduce the plastics pollution issue in our country but this effort must be supported by a holistic approach, e.g. from product design to segregation at source, effective waste collection system and well-managed recycling plants. The development of these infrastructure facilities requires support from all stake holders from the resin producers to plastics convertors, the public at large and the Government.

“MPMA has recently proposed a Plastics Neutrality Masterplan which provides thought leadership to drive towards zero plastics to landfills by 2050. In Malaysia, achieving plastic circularity and neutrality poses several formidable challenges. The Masterplan addresses the challenges by promoting a multi-faceted approach, involving policy reforms, investments in infrastructure, public education campaigns, and collaboration among stakeholders across the plastics value chain. The Masterplan reinforces the industry’s commitment to address concerns related to plastics, by making plastics circular, driving lifecycle emissions to net zero, and fostering the sustainable use of plastics,” added Mr Cheah.

At the Conference, Mr. CC Cheah said that the plastics industry is fully supporting and committed to playing a vital role in contributing towards the country’s target of becoming a carbon-neutral nation by 2050. The plastics industry has started to use solar power as an input of its energy mix several years ago by installing solar panels on the factories’ rooftops to generate solar power. With the implementation of the targeted subsidy, electricity costs have increased substantially. This will encourage more plastics companies to increase their usage of renewable energy the industry is very fortunate to be able to learn from knowledgeable and resourceful speakers on the various types of Government assistance and facilitations. As such, plastics companies are looking for more green energy options such as participating in the Corporate Green Power Programme. MPMA hopes that the Energy Authorities could provide more options and channels in the future so that more green.

The ongoing collaboration between MIDA and MPMA is set to continue driving Malaysia’s advancements in the plastics industry, ensuring sustained progress and innovation.

**The End**

About MIDA

About MPMA

The Malaysian Plastics Manufacturers Association (MPMA), established in 1967, is a progressive trade association providing leadership and quality service to its members and the plastics industry. MPMA is the official voice of the Malaysian plastics industry, representing its members and the industry in Government interaction, spearheading the plastics industry’s growth and providing the platform to assist members in being globally competitive. MPMA currently has about 800 members comprising Ordinary members, which represent about 60 per cent of plastics manufacturers in the country and account for 80 per cent of the country’s total production of plastic products, as well as Associate members who are mainly raw material and machinery suppliers.

Media contacts:

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

MPMA
Mr. SC Chan
Manager, MPMA
Email: [email protected]
Tel: +603 78763027

MIDA – MPMA Conference on Government Facilitation and Assistance for Circular and Low Carbon Economy

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For January to March 2024 (Q12024), Malaysia attracted RM83.7 billion of approved investments in manufacturing (RM43.0 billion, 51.3%), services (RM39.3 billion, 47.0%) and primary (RM1.4 billion, 1.7%) sectors.
The overall approved investments recorded a notable 13% increase from the same period last year (Q12023).
Foreign investments (FI) contributed RM47.0 billion (56.2%), while domestic investments (DI) were RM36.7 billion (43.8%). Both categories have shown growth compared to Q12023 with FI notably increasing by 23.8%, while DI rose by a modest 1.6%.
Top five (5) sources of FI led by Austria (RM30.1 billion), Singapore (RM5.6 billion), The Netherlands (RM3.6 billion), The People’s Republic of China (RM3.4 billion), and The United States of America RM632.8 million).
Significant investments were approved in Kedah (RM31.3 billion), W.P. Kuala Lumpur (RM21.5 billion), Selangor (RM12.4 billion), Sarawak (RM4.2 billion), and Johor (RM4.1 billion).
A total of 1,257 projects approved, expected to generate 29,027 new jobs in the country. Total employment increased by 14.6% compared to Q12023.
Capital Investment per Employee (CIPE) and Managerial, Technical, and Supervisory (MTS) index for the manufacturing sector recorded higher levels at RM2.4 million and 44.2%, respectively, compared to Q12023.
Notably 77.2% of manufacturing projects approved between 2021 to March 2024 have been implemented.

Kuala Lumpur, 21 June 2024 –Malaysia has shown commendable performance for the period January to March 2024 (Q12024) with a total value of RM83.7 billion in approved investments across various sectors. This represents a solid 13% increase from RM74.1 billion in the same period last year (Q12023). These approved investments comprise of 1,257 projects, which are expected to generate 29,027 new job opportunities for Malaysians.

Foreign investments (FI) accounted for 56.2%, or RM47.0 billion of the total investments, while domestic investments (DI) made up the balance of 43.8%, valued at RM36.7 billion.

Austria topped the list of foreign investors by a very wide margin, with RM30.1 billion (64%) in approved investments, followed by Singapore (RM5.6 billion), The Netherlands (RM3.6 billion), The People’s Republic of China (RM3.4 billion), and The United States of America (RM632.8 million).

In terms of states, Kedah recorded the highest value of approved investments (RM31.3 billion), followed by W.P. Kuala Lumpur (RM21.5 billion), Selangor (RM12.4 billion), Sarawak (RM4.2 billion), and Johor (RM4.1 billion).

Target sectors stipulated by the National Investment Aspirations (NIA) contributed RM53.7 billion, accounting for 64.1% of the total approved investments across 252 projects, which are expected to create 17,056 new job opportunities. The NIA is built on five robust pillars: enhancing economic complexity, creating high-value job opportunities, expanding domestic linkages, developing new and existing clusters, and promoting inclusivity.

Of the total approved investments, RM47.5 billion, or 56.8%, fall under the jurisdiction of MITI/MIDA, covering 500 projects with 18,517 new job opportunities.

YB Senator Tengku Datuk Seri Utama Zafrul Aziz, Minister of Investment, Trade, and Industry (MITI) said, “Approved investments of almost RM84 billion for Q12024, up by 13% year-on-year, reflect how Malaysia has earned investors’ trust. Working closely with MIDA, MITI has delivered not just the investment numbers, but also their speedy realisation to quickly translate these investments into business opportunities for SMEs and jobs for Malaysians. While we acknowledge the usefulness of short-term indicators of our business landscape, the real proof of Malaysia’s competitiveness is in the actual, continuous inflow of investments into key target sectors outlined by NIMP 2030, including in high-growth industries such as semiconductors, data centres, renewable energy and electric vehicles. This is why we will also continue to focus on longer-term industrial reforms and other strategic policy efforts to nurture a conducive investment ecosystem, to drive productivity as well as sustainable, inclusive growth that will pave the way for Malaysia to be one of the top 30 largest economies globally by 2033.”

Malaysia’s Manufacturing Sector Thrives with Substantial Investment Growth

Malaysia’s manufacturing sector experienced significant momentum with approved investments of RM43.0 billion, registering a remarkable 174.9% increase compared to the first quarter of last year. A total of 252 projects were approved, which would create 17,991 new employment opportunities. Of these, 80.8% (14,528) are for Malaysians, with 50.6% in management, professional, technical, supervisory, and skilled labour roles.

Foreign investments (FI) accounted for RM38.2 billion or 88.8% of the total approved investments in the manufacturing sector. Domestic investments (DI) contributed RM4.8 billion or representing 11.2% of the total.

Key indices such as Capital Investment per Employee (CIPE) and Managerial, Technical, and Supervisory (MTS) index also recorded higher levels compared to the same period last year. The CIPE stood at RM2.4 million compared to RM1.3 million previously, indicating higher economic complexity in the approved projects. The MTS index also rose to 44.2%, up from 38.3%, reflecting the creation of higher-quality job opportunities.

The electrical and electronics (E&E) is the major industry underpinning Malaysia’s manufacturing economic growth with approved investments of RM34.3 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.

Despite continued geopolitical uncertainties, Malaysia has managed to position itself appropriately to capture more investments in semiconductors, contributing to a more secure and resilient global semiconductor supply chain. Further impetus for this would be provided by the recently unveiled National Semiconductor Strategy (NSS), which targets to attract at least RM500 billion in investments in the first phase of the plan.

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

● Transport Equipment: RM2.2 billion

● Chemicals and Chemical Products: RM2.1 billion

● Fabricated Metal Products: RM986.7 million

● Food Manufacturing: RM692.3 million

Notable Projects in the Manufacturing Sector:

A notable project contributing to this significant growth is the investment by Infineon Technologies (Kulim) Sdn. Bhd., a global semiconductor leader in power systems and IOT plans to expand with an additional investment of RM30.1 billion (Euro 5 billion) of the original Euro 2 billion investment in its facility in Kulim, Kedah, by building the world’s largest 200-millimetre silicon carbide power fabrication plant.

Other quality projects include:

Chery Corporate Malaysia Sdn. Bhd.: With an investment worth RM1.4 billion, Chery, a renowned automotive company, aims to boost its production capabilities in Malaysia.
NovaAir Industrial Gases Sdn. Bhd.: NovaAir specialises in the production of industrial gases. The company is investing RM241.4 million in producing Gaseous Argon, Nitrogen, Oxygen, Helium, High Purity Oxygen, Krypton, Liquid Argon, Liquid Nitrogen, Liquid Oxygen, Neon, and Xenon.
Industrial Concrete Products Sdn. Bhd. (ICP) : With an additional investment of RM250 million, Industrial Concrete Products Sdn. Bhd. (ICP), a subsidiary of IJM Corporation Berhad, will build its largest manufacturing facility at Bestari Jaya, Selangor. This fully automated smart factory will produce pretensioned spun concrete piles and other precast concrete products, incorporating sustainable practices and significantly reducing labour reliance.

Malaysia’s Services Sector Attracts Modest Investments in Q12024

The services sector recorded RM39.3 billion in investments across 994 projects, set to create 10,988 employment opportunities. Domestic investments (DI) accounted for RM30.6 billion (77.9%), while foreign investments (FI) contributed RM8.7 billion (22.1%).

DI’s robustness was driven by government incentives, a stable economic environment, strategic national initiatives for digital transformation and infrastructure enhancement, and supportive policies for local enterprise development.

The top-performing sub-sectors within the services sector are:

● Information and Communications: RM17.3 billion

● Real Estate: RM13.6 billion

● Global Establishments: RM3.4 billion

● Financial Services: RM2.3 billion

● Utilities: RM1.8 billion

Malaysia’s services sector continues to demonstrate its resilience and attractiveness to investors. The substantial DI underscores the country’s stable economic environment and the Government’s strategic initiatives for digital transformation and infrastructure enhancement.

With particular strength in the information and communications sub-sectors, especially data centres and cloud computing, as well as global establishments, Malaysia is integrating advanced AI technologies to drive sustainable and innovative growth.

Notable Projects in the Services Sector

Notable projects contributing to the sector’s growth include:

Kedah Cement Sdn. Bhd.: With an investment worth RM120 million, Kedah Cement is integrating sustainable technologies into its operations through an innovative 10MW Waste Heat Recovery System (WHRS) derived from the cement clinkering process. This pioneering system has significantly reduced the company’s carbon footprint and energy consumption.
Infinity Logistics & Transport Sdn. Bhd.: Infinity Logistics, a leader in integrated logistics services, is investing RM245.5 million to develop a smart warehouse in Malaysia.
Toyo Tyre Malaysia Sdn. Bhd.: Toyo Tyre, one of the leading tire manufacturers, is investing an additional RM32.8 million to integrate a 16-megawatt peak (MWp) rooftop solar photovoltaic (PV) system into its operations. This expected generation of 16 MWp of clean energy, allows Toyo Tyre to offset 12,195 tonnes of carbon dioxide annually.

GC Forwarding Service Sdn. Bhd.: GC Forwarding Service, specialising in freight forwarding and logistics solutions, is investing RM19.9 million to establish a new facility in Malaysia. This initiative will enable the company to offer comprehensive services, including freight forwarding, general warehousing, bulk-breaking, and transportation and distribution activities.

Primary Sector Remains Significant

The primary sector secured RM1.4 billion in approved investments across 11 projects, mainly in mining. The approved investments are expected to create 48 new jobs and are dominated by domestic sources with RM1.3 billion (88.7%), while foreign sources contributed RM161.1 million (11.3%).

Attracting Future Investments

Since beginning of the year, MITI and MIDA have executed nine (9) High-Level Overseas Investment Missions to key countries such as Germany, France, Australia, Italy, Singapore 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. These proactive efforts have helped Malaysia achieve a significant number of projects and approved investments. These missions are instrumental in exploring economic opportunities, attracting new investments, and fortifying bilateral trade and investment relations with Malaysia.

As of May 31 2024, MIDA is actively pursuing 1,775 proposed projects worth RM68 billion, comprising 1,709 in the services sector (RM44.7 billion) and 66 in manufacturing (RM23.3 billion). While negotiations are ongoing between MIDA and prospect investors for high-potential leads totalling RM60.4 billion.

Effective 1 June 2024, InvestKL has been absorbed under MIDA to streamline functions, reduce investor confusion, and enhance investment facilitation through cumulative expertise. Despite this consolidation, MIDA has guaranteed continued support to new and existing investors procured through InvestKL. Among MIDA’s fresh objectives include elevating Malaysia’s status as a premier global services hub. This rationalisation exercise embodies the MADANI Government’s principles on optimising public resources while also delivering superior services.

Mr. Sikh Shamsul Ibrahim, CEO of MIDA, remarked, “Our stellar Q12024 investment performance is a testament to MITI and MIDA’s tireless dedication to attracting investors and nurturing a fertile ground for growth and innovation. We are steadfast in our mission to propel Malaysia to unprecedented economic heights through strategic partnerships with MITI and other key ministries and agencies. Our vision is to shape Malaysia into a leader in technological prowess, sustainable practices, and a thriving investment landscape. With forward-thinking policies and bold initiatives, Malaysia stands as a premier destination for both global and local investors, driving prosperity for the rakyat, SMEs, and the wider business community. This united effort will steer us towards a future of unparalleled growth and innovation.”

Realised Investments for Manufacturing Sector

Between 2021 and March 2024, the National Committee on Investment has approved 2,638 manufacturing projects. Notably, 77.2% of these projects are already in various stages of implementation, ranging from production to factory construction and machinery installations. While 21.1% are in the planning phase, focusing on initial steps such as site selection and consultations with developers and consultants. A minimal 1.6% remain unimplemented.

Poised for Global Leadership in Key Sectors

Malaysia achieved a high ranking in the UNCTAD Technology and Innovation Report 2023, securing the 7^th position in the industry rank and placing 32^nd among 166 countries in the Frontier Technologies Readiness Index. By combining strategic initiatives, forward-thinking policies, and a commitment to excellence, Malaysia is poised to lead in the global economic landscape.

***THE END***

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

For media enquiries please contact:

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

Infographic (English)

Infographic (BM)

Q12024 Approved Investments Increased by 13 Per Cent to RM83.7 Billion, Creating 29,000 New Jobs for Malaysians

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Kuala Lumpur, June 13, 2024 – Malaysia’s economic growth hinges significantly on domestic investment. In a collaborative effort, the Malaysian Investment Development Authority (MIDA), together with the Federation of Malaysian Manufacturers (FMM) and its strategic partner, the Malaysian Industrial Development Finance Berhad (MIDF), successfully organised the National Investment Seminar: Re-Energising Domestic Investment at the Mandarin Oriental Hotel, Kuala Lumpur. The seminar served as a transformative platform, particularly empowering SMEs, to glean invaluable insights on facilitation, incentives, and business matching and networking opportunities across the manufacturing and services sectors.

Over 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; Government-Linked Investment Companies (GLICs); banks; private equity firms; venture capitals; academicians; and government officials.

During a luncheon session, YB Liew Ching Tong, Deputy Minister of Investment, Trade and Industry (MITI), delivered special remarks, engaging with industry leaders to foster collaboration and drive initiatives forward. Notable attendees included Tan Sri Dato’ Seri Dr. Sulaiman Mahbob, Chairman of MIDA; Mr. Jacob Lee, Vice President of Federation of Malaysian Manufacturers (FMM); Mr. Fadzlan Abu Bakar, Head of Marketing, Grant and Factoring Management Department, MIDF and Dr. Anthony Dass, Executive Director of the Malaysian Institute of Economic Research (MIER).

In his remarks, Deputy Minister of MITI, YB Liew Chin Tong, underscored the critical need for resilient and robust supply chains, which is the most important concern of firms post-Covid-19 and in the current challenging geopolitical environment. “The MADANI Government led by the Prime Minister YAB Dato’ Seri Anwar Ibrahim has a very ambitious agenda for industries: to grow exponentially, to tech-up, to green up and to share the fruits of growth better. We need to do more to break down the walls between MNCs and domestic firms through win-win localisation programmes to create and enlarge markets for Malaysian firms. We will also need to link the capital market, especially GLICs and GLCs, to invest in high-end manufacturing and R&D. The Government is committed to strengthening supply chain resilience and bring the technology levels of Malaysian firms closer to that of in South Korea, Taiwan, and Shenzhen.”

Chairman of MIDA, Tan Sri Dato’ Seri Dr. Sulaiman Mahbob in his keynote address emphasised, “Recognising the vital role of SMEs in Malaysia’s economy, MITI and MIDA are committed to empowering these businesses. We aim to boost productivity, encourage technology adoption, and enhance competitiveness in local and international markets. We remain steadfast in supporting SMEs on their growth journey.”

“Building on our current momentum and facing the challenges ahead, MITI and MIDA are poised to take on a more dynamic and engaging role in 2024. Our primary focus will be on the comprehensive implementation of all government initiatives and mandates to achieve the desired outcomes aligned with the national agendas. These include the Twelfth Malaysia Plan (12MP), the MADANI Economy Framework, the New Industrial Master Plan (NIMP) 2030, and the National Energy Transition Roadmap (NETR).” he added.

Mr. Jacob Lee, Vice President of FMM, highlighted “the impressive turnout today speaks volumes. It signifies our collective commitment and enthusiasm to “re-energise domestic investment” and at the same time, to help propel our SMEs into the global supply chain; towards the common aim of advancing the Malaysian manufacturing industry. More importantly, today’s event, the first joint investment seminar by MIDA and FMM, demonstrates both the industry and the Government’s joint effort and strong resolve to attract and re-energise domestic investment in priority sectors such as electrical and electronics; food and beverage; and pharmaceutical and medical device sectors”.

Dr. Anthony Dass, Executive Director of Malaysian Institue of Economic Research (MIER), presented insights on the World Economy: Challenges and Opportunities, providing valuable economic forecasts and analysis for policymakers and the private sector. Three breakout sessions covered crucial topics including The Industrial Linkage Programme (ILP), ECRL – Impacts on Regional Development and Economic Integration, and Funding and Financing Opportunities.

MIDA’s strategic collaborations with key partners such as FMM forge a strong backbone for local enterprises, fueling domestic investment and elevating Malaysia’s appeal to global investors.

-ENDS-

About Federation of Malaysian Manufacturers (FMM)
The Federation of Malaysian Manufacturers (FMM) has been the voice of the Malaysian manufacturing sector since 1968. Representing over 12,300 member companies (3,900 direct and 8,400 indirect) from the manufacturing supply chain, FMM is actively engaged with government and its key agencies at Federal, State and local levels. FMM is also well-linked with international organisations, Malaysian businesses and civil society. Apart from benefitting from FMM’s advocacy, FMM members enjoy value-add services, including training, business networking and trade opportunities as well as regular information updates.

For more information, please contact:

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

FMM
Han Mong Ying
Senior Manager, Corporate Affairs
Tel: 03-6286 7200 Email: [email protected]

MIDA-FMM National Investment Seminar Aims to Boost Domestic Investment, Supply Chain Resilience and Foster Innovation

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ANDOVER, Massachusetts, United States, KUALA LUMPUR, Malaysia [June 10, 2024] –– MKS Instruments, Inc. (NASDAQ: MKSI), a global provider of technologies that transform our world, today announced that it is set to build a Super Center factory in Penang, Malaysia to support wafer fabrication equipment production in the region and globally. The development plan is to construct the new facility in three phases, with groundbreaking expected to commence in early 2025.

YAB Tuan Chow Kon Yeow, Chief Minister of Penang, stated, “Often lauded for its well-developed industrial ecosystem, Penang has the capacities and capabilities to support the needs of industrial players in next-generation technologies and growth strategies. Aligning with Penang’s ambition to move up the global semiconductor value chain, MKS Instruments unlocks opportunities in semiconductor manufacturing, which creates more high-value job opportunities for the local workforce. I am delighted that MKS Instruments chose to locate its new facility here and I hope the company will be able to reap many benefits from its operation in Penang, the Silicon Valley of the East.”

Mr. Sikh Shamsul Ibrahim Sikh Abdul Majid, Chief Executive Officer of the Malaysian Investment Development Authority (MIDA) shared his excitement about the company’s expansion into Malaysia, stating, “MKS Instruments’ decision to build a new facility in Malaysia underscores our nation’s growing reputation as a premier destination for advanced technology investments. This new facility highlights Malaysia’s attractiveness as a strategic hub for innovation and manufacturing, reflecting the company’s confidence in our highly skilled workforce and favourable business environment.”

He added, “Malaysia is blessed with a rich stream of talent and resources, making it an ideal location for high-tech companies like MKS Instruments to expand their operations. MIDA believes the company’s activities in the semiconductor market will significantly enhance the capability of manufacturing processes in Malaysia, aligning with the New Industrial Master Plan (NIMP) 2030. MIDA is thrilled to welcome the company’s investment, marking a pivotal step in our work to build a stronger future for Malaysia’s advanced manufacturing sector. We look forward to a successful collaboration and invite other industry leaders to choose Malaysia as their preferred investment destination. Together, we will drive mutual growth and further enhance Malaysia’s rapidly expanding high-tech ecosystem.”

“MKS has a proud history of innovations and inventions that have shaped the evolution of the key industries we serve,” said Dr. John T.C. Lee, President and Chief Executive Officer of MKS. “With close proximity to our customers and suppliers and robust technology infrastructure, Penang is home to a strong semiconductor ecosystem. Expanding our business in Malaysia is an important milestone for our company as we seek to continue to enhance our capabilities as a leader across a broad array of semiconductor manufacturing applications.”

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About MIDA

About InvestPenang

About MKS Instruments

MKS Instruments enables technologies that transform our world. We deliver foundational technology solutions to leading edge semiconductor manufacturing, electronics and packaging, and specialty industrial applications. We apply our broad science and engineering capabilities to create instruments, subsystems, systems, process control solutions and specialty chemicals technology that improve process performance, optimize productivity and enable unique innovations for many of the world’s leading technology and industrial companies. Our solutions are critical to addressing the challenges of miniaturization and complexity in advanced device manufacturing by enabling increased power, speed, feature enhancement, and optimized connectivity. Our solutions are also critical to addressing ever-increasing performance requirements across a wide array of specialty industrial applications. Additional information can be found at https://www.mks.com.

Safe Harbor for Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 regarding MKS’ construction of a factory in Malaysia. Any statements that are not statements of historical fact should be considered to be forward-looking statements. Actual events or results may differ materially from those in the forward-looking statements set forth herein, including as a result of the factors described in MKS’ Annual Report on Form 10-K for the year ended December 31, 2023 and any subsequent Quarterly Reports on Form 10-Q, as filed with the U.S. Securities and Exchange Commission. MKS is under no obligation to, and expressly disclaims any obligation to, update or alter these forward-looking statements, whether as a result of new information, future events or otherwise, after the date of this press release.

Media Contacts:

MIDA

Ms. Zakiah Sajidan
Director, Machinery and Metal Technology Division
Email: [email protected]
Tel.: +603 22676769

Invest Penang

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

MKS Instruments

Mr. Bill Casey
Senior Director, Marketing Communications 
Email: [email protected]
Tel.: +1 630 995 6384 

Ms. Kerry Kelly
Partner, Kekst CNC
Email: [email protected]

MKS Instruments Set To Build A Super Center Factory In Malaysia

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Informa Markets unites the leading BESS companies to accelerate the ASEAN region’s energy transition.

Key Highlights of ENERtec Asia 2024:

300+ Exhibitors showcasing the latest in energy technology.
5 International Pavilions featuring global innovations.
10,000+ Visitors from around the world.
50+ Professional speakers delivering insightful presentations.

KUALA LUMPUR, 6 JUNE 2024 – ENERtec Asia 2024 is set to transform Southeast Asia’s energy landscape. Organised by Informa Markets, this premier event will enhance its focus on Battery Energy Storage Systems (BESS) with the introduction of a new segment – BATTERY & EV Tech (Energy Storage & EV Technology and Solutions).

Scheduled from 26 to 28 June 2024 at the Kuala Lumpur Convention Centre (KLCC), ENERtec Asia will be a one-stop hub for exploring the transformative power of battery technology. This event offers a unique opportunity to witness the future of energy and leverage the possibilities presented by BESS. Supported by The Battery Show and Electric & Hybrid Vehicle Technology Expo, this strategic addition underscores ENERtec Asia’s commitment to fostering innovation in the energy transition market and paving the way for a cleaner, greener future powered by renewable energy.

Mr. Sikh Shamsul Ibrahim Sikh Abdul Majid, CEO of MIDA, remarked, “The transformative power of BESS in Malaysia extends far beyond environmental benefits. It serves as a catalyst for cutting-edge advancements in smart grid technology and energy management systems, driving efficient energy use and substantial emission reductions. With incentives like the Green Investment Tax Allowance (GITA), we’re creating an enticing platform for both local and international renewable energy investors. The integration of BESS is a monumental leap forward for Malaysia, propelling us toward a future powered by green energy. We anticipate significant reductions in emissions, enhanced grid reliability, and a surge in green investments. Malaysia is on track to become a global hub of sustainable development and environmental stewardship.”

Aligned with Malaysia’s ambitious goal of becoming a net-zero emission nation by 2050, the Malaysian Investment Development Authority (MIDA) has formed a strategic collaboration with Informa Markets to drive innovation, attract investment, and position Malaysia as a leader in the region’s energy transformation.

“The inclusion of BATTERY & EV Tech marks a turning point for Southeast Asia’s BESS industry. This positions Malaysia as a leader in the region’s energy transformation by accelerating innovation and attracting investment in BESS solutions.” said Gerard Leeuwenburgh, Country General Manager of Informa Markets.

As the world transitions to sustainable energy, BESS is becoming essential across various industries. They provide grid stability, facilitate renewable integration, and enhance energy access and security. These advancements reduce greenhouse gas emissions, improve grid performance, and increase regional energy independence.

Chan Jian Wen, Country Manager of Eaton Malaysia, commented, “At Eaton, we recognise the immense potential of Battery Energy Storage Systems (BESS) to revolutionise Southeast Asia’s energy landscape. Our innovative solution – EnergyAware – has helped numerous critical operation facilities optimise energy consumption and avoid power interruption. We’re excited to meet organisations at ENERtec Asia 2024 to bring together insights and industry-leading technology.”

John Lewinski, Vice President of The Battery Show, emphasised, “We are thrilled to support ENERtec Asia 2024, reflecting our shared commitment to advancing the battery industry and fostering innovation in the Energy Transition market.”

Malaysia is strategically positioned to leverage BESS to achieve its 2050 target of 70% renewable energy. The country’s proactive approach aligns with BESS development, highlighting its commitment to green energy. The Malaysia Renewable Energy Roadmap (MyRER) outlines targets and investments for BESS projects as part of its energy transition plan.

Southeast Asia, particularly Malaysia, is experiencing a surge in demand for Renewable Energy (RE), Energy Efficiency (EE), and Electric Vehicles (EVs). Battery Energy Storage Systems (BESS) are crucial for ensuring a stable and uninterrupted electricity supply to meet this growing demand. By enabling the ability to store excess clean energy and releasing it when needed, BESS supports a more sustainable and secure energy future for the region.

ENERtec 2024 will unite the industry’s brightest minds, global solution providers, and innovators to showcase latest advancements in mechanical, electrical, energy technology, and battery solutions. The electrifying conferences is also co-organised with The Electrical & Electronics Association of Malaysia (TEEAM), the Energy Industries Council (EIC), and the ASHRAE Malaysia Chapter. For more information, please visit www.enertecasia.com.

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About MIDA

About Informa Markets

Informa Markets (www.informamarkets.com) creates platforms for industries and specialist markets to trade, innovate and grow. Our portfolio is comprised of more than 550 international B2B events and brands in markets including Healthcare & Pharmaceuticals, Infrastructure, Construction & Real Estate, Fashion & Apparel, Hospitality, Food & Beverage, and Health & Nutrition, among others. We provide customers and partners around the globe with opportunities to engage, experience, and do business through face-to-face exhibitions, specialist digital content, and actionable data solutions. As the world’s leading exhibition organiser, we bring adiverse range of specialist markets to life, unlocking opportunities and helping them to thrive 365 days of the year.

For more information, please contact:

MIDA
Mr. Nelson Samuel
Director, Green Technology Division, MIDA
Email: [email protected]
Tel: +603-2267 3635

Informa Markets
Ms. Angel Wong
Marketing Manager
Email: [email protected]
Tel: +60 16-217 7488

ENERtec Asia 2024 Ignites Southeast Asia’s Battery and EV Tech Revolution

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Effective 1 June 2024, Invest KL Corporation (InvestKL) is a subsidiary under the Malaysian Investment Development Authority (MIDA). This strategic decision by the National Investment Council (MPN) aimed to streamline and fortify Malaysia’s national investment agenda. MIDA, the nation’s premier investment promotion agency, continues to lead comprehensive, organised, efficient promotional and marketing activities at the federal level, enhancing the country’s attractiveness for global investments.

MITI Media Statement

Ease Investor’s Journey: Investment Promotion Functions Streamlined Under MIDA

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