Kuala Lumpur, 20 March 2024 – The Malaysian Investment Development Authority (MIDA) and Enterprise Singapore (EnterpriseSG) had enhanced the jointly managed Malaysia-Singapore Business Development Fund (MSBDF) for Third Countries. Businesses are highly encouraged to tap into the fund, which was first established in 2004 to strengthen cooperation between the private sectors of both countries.

A significant enhancement to the provisions of the MSBDF agreement was agreed upon on 30 October 2023 between YB Senator Tengku Datuk Seri Utama Zafrul Aziz, Malaysia’s Minister of Investment, Trade, and Industry (MITI) and H.E. Gan Kim Yong, Singapore’s Minister of Trade and Industry. The fund facilitates both countries to jointly pursue opportunities in third countries and conduct joint pilots in each other’s country, especially in emerging areas such as green economy and digital economy.

Tengku Zafrul said, “Malaysia and Singapore’s unique relationship is underscored by our geographical, as well as long-standing economic and shared cultural ties. The joint business objectives MSBDF reflect the depth and breadth of those ties, making it easier to leverage on existing synergies for both nations’ private sectors to explore business and investment opportunities in third countries. The enhancements to MSBDF make it more conducive for future collaborative efforts. We strongly encourage businesses to tap into the MSBDF, another important platform through which we can create and deliver more tangible benefits for our people and businesses.”

Reinforcing this viewpoint, Datuk Wira Arham Abdul Rahman, the Chief Executive Officer of the Malaysian Investment Development Authority (MIDA), expressed his contentment with the ongoing collaboration. “Our partnership with Enterprise Singapore highlights Malaysia’s prominent role in fostering regional economic growth. We are committed to significantly expanding our economic cooperation, encouraging the private sectors of both countries to delve into the digital and green economies. Through initiatives like Joint Trade Missions, Joint Feasibility Studies, and Joint Pilots, we are dedicated to promoting economic expansion. Moreover, MIDA is poised to facilitate companies that are keen to explore these new avenues, ensuring a streamlined process for those looking to capitalise on the opportunities presented by the MSBDF.”

The MSBDF, administered by MIDA and Enterprise Singapore (EnterpriseSG), welcomes applications from Malaysian and Singaporean businesses and associations.

Malaysian SMEs can visit MIDA’s official website https://www.mida.gov.my/invest-in-malaysia/business-facilitation/ for further details on guidelines, eligibility criteria, application procedures and funding mechanisms.

***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:

Mr. Nazuki Abdullah
Director of Cross Border Investment Division Malaysian Investment Development Authority (MIDA)
Email: [email protected] / [email protected] | DL: +603-2267 6688

Companies Encouraged to Utilise Malaysia-Singapore Business Development Fund (MSBDF) to Tap Into Commercial Opportunities in Third Countries

PENANG, 18 MARCH 2024 – QES Group Berhad (QES), a global leader in the semiconductor industry, is advancing in its commitment to sustainable practices and innovation, aligning with Malaysia’s vision to be a front-runner in Environmental, Social and Governance (ESG) leadership in Southeast Asia.  This commitment is exemplified through its latest initiative; the establishment of RM40 million plant in Batu Kawan Industrial Park, Penang (QES 2@BKIP) and its adoption of solar energy as a renewable source to decrease reliance on conventional electricity.

QES 2@BKIP is designed to minimise its environmental impact and integrate with its surroundings, aiming to achieve green building certification by utilising eco-friendly materials and implementing renewable energy solutions. This project is expected to create 100 high-quality job opportunities within 3 years.

YB Senator Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz, Minister of Investment, Trade and Industry (MITI) remarked, “The New Industrial Master Plan (NIMP) 2030 has clearly laid out Malaysia’s industrial reform journey towards achieving higher economic complexity, technological prowess, sustainability, as well as economic inclusivity. The convergence of two or more of these objectives through NIMP’s target sectors will help speed up our industrial reform, and we see this in QES’s upcoming plant where innovative hi-tech semiconductor manufacturing meets sustainability. Such convergence will also help Malaysia’s manufacturing sector move up the global value chain more quickly, while creating better-paying jobs for our people, and contributing to our net zero future.”

Datuk Wira Arham Abdul Rahman, CEO of the Malaysian Investment Development Authority (MIDA), highlights the significance of the ESG theme in reshaping contemporary business practices, particularly within the semiconductor industry. He commends QES, stating, “QES’s sustainability goals dovetail seamlessly with the prevailing trend among companies and investors to prioritise ESG considerations. I am heartened to see their dedication to innovation and sustainability, evidenced by their prioritisation of renewable energy solutions and eco-friendly materials. With ESG now a top priority, collaborative partnerships are essential for semiconductor firms to make progress on decarbonisation. MIDA stands fully supportive of such endeavours, recognising their potential to not only generate high-quality job opportunities but also shape a more sustainable future for generations to come.”

“QES is committed and taking significant steps in achieving our ESG milestones as we recognise the undeniable importance of sustainable practices, therefore we prioritise achieving operational profitability whilst focusing on the ESG criteria as critical components in business sustainability. QES is confident that QES 2@BKIP will further reinforce our presence and foster our efforts for growth and success” said Chew Ne Weng, Group Managing Director of QES Group Berhad.

Simultaneously, QES 2@BKIP will be used to house the joint venture company, Applied Engineering Technology (M) Sdn. Bhd. (“AETM”) with its USA counterpart Applied Engineering Inc. This will double AETM’s factory space from its current rented facility of 18,000 square feet to approximately 30,000 square feet and doubling its manpower requirements over the next 3 years.

With a focus on ESG principles, QES is poised to lead the way towards a more sustainable future, positioning the company as a leader in the semiconductor industry and in Malaysia’s vision for a sustainable future.

– 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.

About QES Group Berhad
QES Group Berhad (“QES” or the “Group”) is listed on the Main Board of Bursa Malaysia Securities Berhad. Through its subsidiaries, QES Group is principally involved in the manufacturing, distribution, and provision of engineering services for inspection, test, measuring, analytical and automated handling equipment.

The Group serves customers from a broad range of industries primarily semiconductor, electrical & electronics, automotive & metal, petrochemical and mining industry.

QES is listed under the Industrial Products & Services Sector (Name & Code: QES & 0196).

For more information about QES Group Berhad, please visit https://www.qesnet.com/.

For more information, please contact:

MIDA
Ms. Zakiah Sajidan
Director of Machinery & Metal Technology Division
T: 03-2267 6769
E: [email protected]

QES Group Berhad
Ms. Alicia Chan
Sr. Personal Assistant to the Group Managing Director
Telephone: 03-5882 6668
Email: [email protected]

QES Group Berhad Empowers ESG via Its New RM40 Million Manufacturing Plant in Penang

• In Emerging and Developing Asia, Malaysia excels, especially in Financial Services and Institutional Framework, surpassing the regional average.

• Globally ranked 5th for Investors’ Rights, highlighting Malaysia’s dedication to securing a trustworthy investment environment.

• High rankings in Business Perception, Financial Services, and Institutional Framework categories underscore Malaysia as a comprehensive investment destination.

• Malaysia stands above the rest in Emerging and Developing Asia by exceeding the average in all GOI categories, showcasing its broad-based appeal.

• With solid investment conditions, Malaysia offers a relatively lower-risk environment, promising stability and growth potential.

Kuala Lumpur, Malaysia, 15 March 2024 – In light of the recent Global Opportunity Index (GOI) 2024 report by the Milken Institute, which distinguished Malaysia as the leading nation among Asia’s emerging and developing countries in terms of overall investment conditions, the Malaysian Investment Development Authority (MIDA) proudly acknowledges this landmark achievement. Malaysia’s commendable global rank of 27, surpassing regional competitors like Thailand and China, marks a significant milestone in the nation’s economic development journey.

Highlighted in the report, Malaysia emerges as a standout among the top ten (10) countries in emerging and developing Asia, boasting a strong institutional framework and balanced strengths across economic, financial, and regulatory domains. Surpassing its counterparts in all five (5) categories of the Global Opportunity Index, Malaysia offers a comparatively lower-risk investment landscape, setting it apart from other developing Asian markets.

This prestigious ranking is a direct reflection of the relentless efforts by the Malaysian Government, spearheaded by the Ministry of Investment, Trade and Industry (MITI), with MIDA playing a crucial role in enhancing the ease of doing business and smoothing out the investment process across the nation. From extensive trade and investment missions to forging international partnerships, Malaysia’s concerted efforts are bearing fruit, unlocking potential investments worth billions. Notably, the recent strategic Working Visit to Germany, led by the Prime Minister Dato’ Seri Anwar Ibrahim, together with the Minister of Investment, Trade, and Industry YB Senator Tengku Datuk Seri Utama Zafrul Abdul Aziz, marked a significant milestone with prospective investments amounting to RM45.4 billion. This venture, coupled with a similarly fruitful mission to Australia, which resulted in commitments from Australian companies to invest RM24.5 billion, underscores Malaysia’s adeptness in navigating the international investment landscape.

A Commitment to Excellence and Continuous Improvement

MIDA has been at the forefront of implementing strategies and initiatives aimed at improving Malaysia’s investment landscape. By focusing on reducing bureaucratic hurdles, enhancing transparency, and ensuring a competitive and supportive environment for both domestic and international investors, MIDA has contributed significantly to this international recognition.

“MIDA is dedicated to building upon this success by continually enhancing our services and support systems for investors,” said Datuk Wira Arham Abdul Rahman, Chief Executive Officer of MIDA. “Our goal is to not only maintain Malaysia’s position as a prime investment destination in Asia but also to elevate our standing on the global stage. We are devoted to making Malaysia the ultimate investment sweet spot by ensuring a more seamless and efficient investment process across the nation.”

In alignment with the sentiments expressed by the MITI Minister YB Senator Tengku Datuk Seri Zafrul Abdul Aziz, MIDA reiterates its commitment to addressing the key pain points along the investor’s journey and optimising the investment climate in Malaysia. Future initiatives will focus on digitalisation, sustainability, and innovation, ensuring Malaysia remains attractive to sectors that are pivotal for future economic growth, aligning with policies in place such as the New Industrial Master Plan 2030, the National Energy Transition Roadmap and the Twelfth Malaysia Plan.

MIDA’s strategic approach includes enhancing partnerships, both locally and internationally, to foster a collaborative investment environment. These efforts are part of a broader national strategy to secure Malaysia’s position as the gateway to Asia for investors seeking growth, innovation, and sustainability.The recognition by the Milken Institute underscores the effectiveness of Malaysia’s economic policies and the concerted efforts of all stakeholders, including government agencies, industry players, and the investment community. MIDA, in collaboration with MITI and other Ministries and Agencies at both federal and state levels, will continue to drive forward Malaysia’s investment agenda and ease-of-doing-business, leveraging the country’s strategic location, political stability, robust infrastructure, and dynamic workforce.

As Malaysia strides into the future, MIDA invites investors from around the globe to explore the diverse opportunities in the country that is not only strategically positioned but is also committed to fostering responsible and sustainable investments and building an inclusive economic landscape for the nation.

***THE END***

About MIDA

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

For media enquiries please contact:

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

MIDA Celebrates Malaysia’s Top Ranking in Global Investment Conditions by Milken Institute

Bukit Tagar, Selangor, 13 March 2024 – J&T Berjaya Alam Murni Sdn. Bhd. (JBAM), a collaborative venture among Berjaya Enviro Holdings, J&T Recycling Corporation of Japan, and JFE Engineering (M) Sdn. Bhd. is proud to announce the inauguration of its state-of-the-art Waste-to-Energy (SWTE) Plant at Bukit Tagar Enviro Park (BTEP). This cutting-edge SWTE facility, integral to the Sustainable Scheduled Waste Treatment Centre (SSWTC), features a highly efficient thermal scheduled waste treatment system in compliance with the standards set by the Department of Environment (DOE) Malaysia.

The opening ceremony was graced by YBrs. Dr. Norhazni Binti Mat Sari, Deputy Director General of Operation, DOE Malaysia, Ministry of Natural Resources and Environmental Sustainability. Among the distinguished guests were Mr. Sivasuriyamoorthy Sundara Raja, Deputy Chief Executive Officer, Investment Promotion and Facilitation, of the Malaysian Investment Development Authority (MIDA) and H.E. Katsuhiko Takahashi, Ambassador of Japan to Malaysia.

Datuk Wira Arham Abdul Rahman, Chief Executive Officer of MIDA, commended JBAM’s partnership on pioneering waste management solutions in Malaysia, stating, “This venture addresses growing need for comprehensive waste management facilities driven by our nation’s industrial growth. Waste management stands as a critical issue in the country, and the Malaysian Government is proactively enhancing the system to address environmental concerns and promote sustainable waste practices. The SSWTC plant exemplifies JBAM’s commitment to corporate responsibility, setting a benchmark for local businesses to address the scarcity of such facilities. In an era where environmental, social, and governance (ESG) principles are paramount, initiatives like these are crucial for promoting sustainable development and effectively tackling climate change challenges.”

In his address, Mr Koh Chee Yong, the Managing Director of JBAM, emphasised the successful realisation of the SWTE project is the culmination of efforts involving dedicated team members, crucial support from government authorities and various stakeholders. This includes DOE, MIDA, Malaysian Green Technology and Climate Change Corporation (MGTC), JFE Engineering, Amita Corporation and the project’s financier, Ambank Group.

The event marks an ultimate milestone in the strategic collaboration between Berjaya Enviro Holding, J&T Recycling Corporation and JFE Engineering (Malaysia) since the conceptualisation of the project back in 2017 and is looking forward to continue the collaboration with JFE in exploring future opportunities for the development of environmental related projects in Malaysia.

“We would like to thank Government Authorities, DOE Malaysia, MIDA, MGTC, Ambank and all our customers from industrial and private sectors for the continuous support and wish to reiterate that the SWTE plant is another significant step by BTEP towards the aspiration of effectively “Setting the Benchmark for Sustainable Waste Management”.”

“The SWTE plant is our newest facility within the SSWTC inside BTEP designed for thermal treatment of scheduled waste with a heat energy recovery system to increase the recycling rate of scheduled waste via our synergistic operations in BTEP.  It is also worth to note that 250 direct jobs have been created to support the management and operation and maintenance of the SWTE Plant,” he added.

BTEP stands as an integrated treatment centre for both municipal solid waste and scheduled waste in Malaysia, reflecting Berjaya Enviro Group’s commitment to advancing the circular economy. Aligned with the Cradle-to-Cradle concept promoted by the DOE, the modern facilities, including the 12 MW Landfill Gas to Renewable Energy plant and the 100% Scheduled Waste to Alternative Raw Material (ARM) Recycling plant, assume pivotal role in transforming waste into valuable resources and renewable energy.

These initiatives resonate with our nation’s sustainability agenda and green technology development goals. Notably, these projects have received significant supports from MIDA, through tax incentives and facilitation of collaborations with various government agencies.

The aspirations set forth in the New Industrial Master Plan 2030, particularly within Mission 3: Push for Net Zero, are significantly bolstered by robust waste management strategies. JBAM aims to foster sustainable economic growth and pave the way for a more environmentally conscious future in Malaysia. This project is particularly warmly embraced, aligning seamlessly with our promoted activities, as underscored by the enhanced tax incentives announced in the Budget 2024. The optimistic anticipation is for the actualisation of additional waste management facilities, fulfilling the objective of efficient waste management and the adoption of high technology and high value-added practices.

***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, Tik Tok and YouTube.

About J&T Berjaya Alam Murni Sdn Bhd (JBAM)
J&T Berjaya Alam Murni Sdn Bhd (JBAM) is a joint-company comprise of Berjaya Enviro, J&T Recycling Corporation of Japan and JFE Engineering (M) Sdn Bhd to undertake the development and management of Sustainable Schedule Waste Treatment Centre (SSWTC) located in Bukit Tagar, Hulu Selangor, Malaysia. The SSWTC is an Integrated Waste Management Facility approved by the Department of Environment that can receive, treat and disposed 76 out of 77 Scheduled Waste Codes, namely clinical, toxic and hazardous waste generated from medical facilities, small, medium and heavy industries.

For media enquiries, please contact:

MIDA
Mr. Nelson Samuel
Director of Green Technology Division
Tel:03-22673635
Email: [email protected]

J&T Berjaya Alam Murni Sdn Bhd
Mr. Peter Wong
Chief Executive Officer
Tel: 03-26886333
Email: [email protected]

JBAM Inaugurates Its RM172 Million New and State-of-the-Art Scheduled Waste-to-Energy Plant

Achieving over 60% Completion Towards Yielding Abundance Economic Spillovers Across Four States

Kuala Lumpur, March 8, 2024 – The Malaysian Investment Development Authority (MIDA) has organised the first-of-its-kind Seminar on the East Coast Rail Link – Economic Accelerator Project (ECRL-EAP) Business and Investment Opportunities together with our strategic partners, the Malaysia Rail Link Sdn. Bhd. (MRL) and PLANMalaysia. This milestone event marks a significant stride forward following the signing of the Memorandum of Understanding (MoU) between the MIDA and China Communications Construction Company Ltd. (CCCC) in 2019 in Beijing, China.

The seminar was officially inaugurated by YB Senator Tengku Datuk Seri Utama Zafrul Abdul Aziz, Minister of Investment, Trade and Industry (MITI), and witnessed the attendance of key figures Federal and State Governments such as Chairman of MIDA, Tan Sri Dato’ Seri Dr. Sulaiman Mahbob; CEO of MIDA, Datuk Wira Arham Abdul Rahman; CEO of MRL, Datuk Seri Darwis Abdul Razak; and Director General of PLANMalaysia, TPr Dr. Alias Rameli, as well as State Executive Council Members from Kelantan, Terengganu, and Selangor: YB Mejar (B) Dato’ Haji Md Anizam Bin Ab Rahman, YB Tuan Mohd Nurkhuzaini Ab Rahman, and YB Tuan Ng Sze Han; Deputy State Secretary (Development) of Pahang, YH Dato’ Ali Syahbana Bin Sabaruddin. This gathering of over 200 participants from GLICs, property developers, industry leaders, SMEs and business associations underscored the seminar as a vital platform for fostering networking, collaboration, and insight sharing.

In his keynote address, YB Senator Tengku Datuk Seri Utama Zafrul Abdul Aziz, Minister of MITI lauded, “The ECRL is poised to be a game-changer for Malaysia, linking us more closely to the Pan-Asia railway network and enhancing our connectivity with ASEAN and the EURASIA regions. Valued at almost RM75 billion, the ECRL – linking Kelantan, Terengganu, Pahang and Selangor – is also a cornerstone for socio-economic growth and is expected to increase Malaysia’s GDP by 3.78% by 2047.”

He highlighted that, as of February 2024, the project has reached an impressive completion rate of 62.4%, with the alignment in each state progressing steadily towards the finish line. This current completion rate underscores the ECRL-EAP’s crucial role in driving economic parity across Malaysia, in line with the New Industrial Master Plan 2030 agenda, especially Mission 4, which focuses on safeguarding economic complexity and security, to further promote inclusivity and shared prosperity.

Chairman of MIDA, Tan Sri Dato’ Seri Dr. Sulaiman Mahbob, expressed, “As we aim for a united, prosperous, and dignified Malaysia, it’s essential to focus on restructuring our economy towards innovation and high-value, knowledge-based activities. The ECRL project is a cornerstone of this vision, promising to generate business and employment opportunities, particularly in industrial parks, logistics hubs, and transit-oriented developments.”

The Chief Executive Officer (CEO) of MRL, Datuk Seri Darwis Abdul Razak said, “We anticipate the ECRL to accelerate the shift of cargo movements from road to rail to help ease congestion and environment-related concerns such as lower carbon footprints when it operates in less than three years’ time. Furthermore, the ECRL will be an electrified rail network that will be operated with renewable energy, thus, providing green logistics for Peninsular Malaysia and in particular the East Coast states.”

He further added, “The ECRL–EAP aims to maximise the potential of the 20 ECRL stations that will be featured along the ECRL corridor, consisting of 10-passenger only stations and another 10 stations combining for passenger & freight. This corresponds with the business model projection of the ECRL, wherein it anticipates that 70 percent of its revenue will primarily come from the freight sector, with the remaining 30 percent stemming from passenger services.”

A highlight of the event was the official handover of the ECRL Integrated Land Use Master Plan (PeGTaECRL) from Director General PLANMalaysia to the CEO of MIDA. This momentous occasion signifies a new chapter in Malaysia’s strategic development, with the PeGTaECRL, serving as a blueprint for development along the ECRL routes. Focused on the 20 strategically identified stations, the plan aims to attract investments and foster harmony between the country’s East and West Coast regions. The collaboration between PLANMalaysia and MIDA underscores a commitment to integrated planning, economic growth, and regional connectivity. By aligning land use planning with transportation infrastructure, the PeGTaECRL aims to optimise development opportunities, enhance connectivity, and promote balanced progress across the country’s east and west coasts.

MIDA, alongside its strategic partners, is committed to promoting the ECRL-EAP to its fullest potential. Local and international investors are invited to participate in these economic transformative projects, while stakeholders are encouraged to engage in capacity-building activities to drive the project’s success.

-END-

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

About MRL
MRL, a wholly-owned subsidiary of the Minister of Finance (Incorporated) [MOF (Inc.)], is the project owner of the ECRL. It is an electrified railway project by the Government of Malaysia linking the East Coast states (Kelantan, Terengganu, Pahang) to the Klang Valley region.  ECRL connects state capitals, major urban centres, industrials hubs, ports, airports, and tourism zones and it interchanges with existing railway line in Peninsular Malaysia. ECRL is poised to help boost Malaysia’s economy and is also part of the East Coast Economic Region (ECER) Masterplan to achieve equitable growth and development between the east coast and west coast of Peninsular Malaysia. The ECRL is scheduled for operation in January 2027 and expected to link Kota Bharu to ITT Gombak in 4 hours as compared to 7 hours by road transport or some 12 hours or more during festive seasons.

For more information, please contact:

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

MRL
Yong Min Wei
Tel.: +6012 3866 123
Email: [email protected]

The First-Of-Its-Kind Seminar on East Coast Rail Link – Economic Accelerator Project (ECRL – EAP) Business and Investment Opportunities

Kuala Lumpur, 8 March 2024 – The Ministry of Investment, Trade and Industry (MITI) and the Malaysian Investment Development Authority (MIDA) are taking proactive and positive steps in response to Goodyear’s decision to close its manufacturing facility in Shah Alam. It’s essential to highlight the ongoing strategic dialogue between MITI, MIDA, and Goodyear that precedes this announcement. This dialogue, a testament to our collective preparedness, has ensured that the closure aligns with broader strategic objectives and exemplifies the adaptability and strength of our partnership.

Importantly, Goodyear, alongside its shareholders, has been in close coordination with the Government well before this decision was publicised, working diligently to establish a support framework for the employees. This pre-emptive collaboration demonstrates our collective commitment to the well-being of the workforce, underlining that our efforts to assist the affected employees is undertaken with foresight and responsibility.

Approximately 550 employees will be directly affected by the shutdown. Goodyear emphasises its dedication to handling this transition with the utmost respect and transparency for all its employees and associates. This development is part of Goodyear’s global move aimed to achieve USD1.0 billion in annualised cost savings by 2025. The company has been operating at a loss since 2017, prompting a strategic shift towards optimising its operations. As part of its restructuring, Goodyear has indicated plans to transition from manufacturing to a distributor business model, focusing on premium profitable segments, building capability in sales and marketing, strengthening the distribution network, and improving the cost structure.

To mitigate the impact on the affected workforce of Goodyear, the Government, through initiatives led by MITI and MIDA, has mobilised specialised team to facilitate job placements, as well as offering upskilling and reskilling programmes. In helping affected parties for job placement, previous efforts have been shown effective, turning challenges into opportunities.Leveraging its experience, MIDA has actively engaged with PERKESO and Jabatan Tenaga Kerja through the newly formed Invest Malaysia Facilitation Centre to facilitate job placement assistance for employees from various sectors. This collaborative effort underscores the potential for similarly effective support mechanisms to be extended to those affected by the Goodyear’s Shah Alam plant closure, demonstrating a committed approach to workforce transition and resilience.

This intervention is a testament to our unwavering commitment to supporting our local workforce through transformative industrial changes, drawing on previous successful collaborations with companies undertaking similar rationalisation as part of their business plans for closure or downsizing, ensuring workers are well-positioned for new and fresh job opportunities. This situation underlines the importance of MITI and MIDA’s commitment to supporting affected workers and fostering resilience.  This also reflects our adaptability and determination to secure the well-being of the workforce and the economic vitality of the nation.

Building on this resilient foundation, Malaysia achieved a historic investment performance in 2023. With a remarkable RM329.5 billion of approved investments across various economic sectors, this is a testament to the strength of the country’s policies designed to foster growth and investment opportunities. Notably, within the manufacturing sector alone, which accounted for RM152 billion of the total approved investments, a significant portion—62.9%, or RM95.5 billion—originated from existing businesses expanding and diversifying their operations. This indicates a strong vote of confidence from established companies in Malaysia’s economic stability and growth prospects.

MIDA’s analysis of annual project implementation reveals a consistent and noteworthy trend: over 85% of approved manufacturing projects in 2021 and 2022 have been implemented. For approved projects in 2023, already 50.1% of these have reached the implementation stage. It is to be noted that this is highly encouraging, considering that manufacturing projects will generally take 18 to 24 months to complete, depending on the level of complexity of each project.

Such achievements reflect Malaysia’s substantial potential for delivering attractive returns amidst its journey towards becoming a developed and inclusive economy. Moreover, the nation’s notable improvement from 32nd to 27th in the 2023 IMD World Competitiveness Ranking serves as a clear testament to the confidence placed in Malaysia by the global investment community.

The Government, through MITI and MIDA, remains steadfast in our dedication to advancing our goals under the MADANI Economy Framework, driving quality job creation and economic benefits to our rakyat. Our emphasis on innovation and sustainability positions Malaysia as a global model of progress and environmental stewardship, ensuring a prosperous and responsible future for all.

***THE END***

About MIDA

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

For media enquiries please contact:

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

MITI and MIDA’s Proactive Response and Support Amid Goodyear’s Shah Alam Plant Shutdown

The new facility will serve as a hub for research and development (R&D), manufacturing and distribution of furniture fittings, catering to global customers’ demands

Penang, 5 March 2024 – Actiforce, a global leader in the furniture components industry originating from the Netherlands, has officially achieved a new milestone in Malaysia with the opening of its new state-of-the-art plant in Penang. The high-technology facility stands as a testament to Actiforce’s commitment to innovation, sustainability, and continued growth. The RM50 million manufacturing facility will be instrumental in the comprehensive production of integrated furnishing tools for ergonomic furniture designs and solutions, with a focus on using the finest raw materials, ensuring product quality control and meeting distribution targets.

Actiforce has been elevating work spaces since 2004, catering to international markets while constantly improving processes for sustainable manufacturing to meet customers’ demands in lifestyle improvement. As part of Germany’s Hettich Group, one of the world’s largest and most successful manufacturers of furniture fittings, Actiforce will be able to benefit from the Group’s extensive worldwide network. ‘Hardware manufacturer’, Hettich Group develops and produces innovative functional fittings and convertible platforms – from drawer and runner systems to hinges and foldings, and sliding door systems, combining intelligent technology, multifunctionality, comfort and design for homes, offices, industry, hospitality, education and healthcare needs.

Actiforce’s new plant will serve as the hub for R&D, manufacturing and distribution of furniture fittings to cater to international markets, namely Europe and The United States of America. It will be instrumental in Actiforce’s global expansion. The move to consolidate manufacturing capabilities in one area, creating a comprehensive one-stop centre, exemplifies Actiforce’s commitment to lean manufacturing and delivering better value to customers. The company aims to enhance the local economy, generate employment opportunities for the local community, and solidify its position as a key contributor to regional prosperity.

Actiforce is committed to smart manufacturing practices with its state-of-the-art facility equipped with the latest technology and cutting-edge machinery. Investments in special robotic welding and Trumpf machines are designed to revolutionise manufacturing processes, ensuring precision, speed, and adaptability. This will enable Actiforce to enhance productivity, reduce wastage, prioritise sustainability and workplace safety in an effort to manufacture exceptional and efficient products that are industry-relevant, and that distinguish itself in the market.

YAB Tuan Chow Kon Yeow, Chief Minister of Penang stated, “Often lauded for its well- developed industrial ecosystem, Penang is proud to host Actiforce as the State continues to showcase its capacities and capabilities to support the needs of industrial players in next- generation technologies and growth strategies. I am optimistic that Actiforce will continue to reap many benefits from its operation in Penang, the Silicon Valley of the East.”

Datuk Wira Arham Abdul Rahman, Chief Executive Officer of the Malaysian Investment Development Authority (MIDA) underscores Actiforce Mechatronic Technology (M) Sdn.

Bhd.’s commitment to Malaysia’s industry supply chain stating, “The Government affirms Actiforce’s confidence in Malaysia’s furniture parts and fittings sector, recognising its potential to meet global demand. The presence of premium components and skilled expertise not only enhances the nation’s competitiveness in furniture manufacturing but also stimulates growth across the value chain of various industries and consumer products.”

“The nation proudly boasting 2,600 established projects in fabricated metal-based products with investments over RM40 billion and supported by 170,000 skilled workforce to welcome more global manufacturers, like Actiforce leverage on Malaysia’s robust industrial ecosystem. With the increasing technological development and advancement of high-quality components by companies like Actiforce, Malaysia’s position as a global supply chain and distribution hub is further solidified,” he added.

The opening of the new plant will pave the way towards creating employment opportunities for local talents across various categories. Currently, Actiforce has over 50 high-quality talents. As the business expands, the workforce is expected to triple with job opportunities for a broader range of specialists and generalists. In addition to creating jobs, Actiforce is committed to equipping talents with the right skills as they immerse themselves in new technologies, and comprehensive training programmes in specialised fabricated tools. Experts and specialists from Hettich headquarters are also ready to guide and upskill the local talents. Actiforce has allocated 2,000 hours of employee training by German experts to introduce these new technologies. This reflects Actiforce’s commitment to not just create jobs but also invest in relevant programmes to boost their skills and expertise across different roles throughout the organisation.

The new state-of-the-art facility located at Bukit Minyak Industrial area, spans approximately 13,300 sq ft. Actiforce projects that the new plant will generate a revenue of RM148 million for the year 2024, with 99% contributing to the export market.

Mr. Harry Slingerland, the Chief Financial Officer of Actiforce commented, “We are thrilled to inaugurate our new facility in Penang, a significant milestone in our journey of global expansion. This state-of-the-art facility reflects our commitment to pushing the boundaries of innovation and delivering unparalleled quality in our products and services. Penang has proven to be an ideal location for Actiforce due to its strategic positioning, skilled workforce, and the supportive business environment provided by the local community and government. We are excited about the opportunities that this facility will bring, not only for Actiforce but also for the Malaysian economy.

“We appreciate our working relationship with MIDA and the Penang State government. Their invaluable support has paved the way for our growth, and we eagerly anticipate a fruitful and lasting business partnership as Actiforce extends its footprint in Penang,” concluded Mr. Slingerland.

-END-

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

About InvestPenang
InvestPenang is the Penang State Government’s principal agency for 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 i4.0 seed fund (a catalyst for the startup ecosystem). For more information, please visit https://investpenang.gov.my/ and follow InvestPenang’s social media channels: Facebook ; LinkedIn.

About Actiforce:
Actiforce Factory is our state-of-the-art manufacturing division located in Penang, Malaysia. The factory is responsible for the entire production process, from purchasing raw materials to product quality control to distribution. Since 2004, Actiforce has manufactured for all our international markets, creating a movement that provides solutions with constant focus and improvement on the processes for a more sustainable manufacturing to ensure we live up to people´s expectations and demands of a good partner for a better lifestyle. [www.actiforce.com]

Part of something bigger:
Actiforce is part of one of the world’s largest and most successful manufacturers of furniture fittings, Hettich [www.hettich.com], founded in 1888 with more than 8,000 employees in almost 80 countries. We work together towards the goal of developing intelligent technology for furniture.

The new facility in Penang marks a significant milestone in the company’s journey, solidifying its position as a key player in the global marketplace.

For more information, please contact,

MIDA
Manjit Kaur Balkar Singh
Director, Food Technology & Resource Based Industries
+603-2267 3509 | [email protected]

InvestPenang
Elaine Cheah / Arief Ferdaus Communication & Business Intelligence
[email protected] / [email protected]

Actiforce
Michael Woedd
Global Marketing Director [email protected]

Actiforce Establishes a RM50-Million, State-Of-The-Art Manufacturing Facility in Penang

Empowering Healthcare Innovation, Revolutionising Patient Care

Pasir Gudang, Johor, 5 March 2024 – Masimo Medical Technologies Malaysia Sdn. Bhd. (Masimo Malaysia), a mission-based medical device and technology company known for solving “unsolvable” problems in patient care, proudly announces the grand opening of its first facility in Pasir Gudang, Johor. This milestone event marks the culmination of months of meticulous planning, dedication, and collaboration, positioning Masimo as a leading player in advancing medical technology and patient care in Malaysia. In recognition of Malaysia’s essential role in fostering medical innovation and investment, the grand opening ceremony was attended by distinguished guests and dignitaries, including government officials from the Malaysian Investment Development Authority (MIDA).

Masimo Malaysia, stands as the sole manufacturer in the country, producing the “Pulse Oximetry Adhesive Sensor and Pulse Oximeter.” These testing tools used to measure the pulse rate and the level of oxygen (oxygen saturation) in the blood. The “Pulse Oximetry Adhesive Sensor” is a disposable, single-patient-use sensor designed for use with the Masimo system, particularly SET (Signal Extraction Technology – The technology that allows accurate monitoring of arterial oxygen saturation and pulse rate, even during motion). Meanwhile, the “Pulse Oximeter” is designed as a portable, handheld, and battery-powered continuous pulse oximeter monitoring device.

Strategically located near key seaports and international airports, the 133,000 square feet facility boasts cutting-edge production areas and warehouse spaces designed to facilitate the development and distribution of innovative medical solutions. With a total build-up area of 133,000 square feet, including a production area spanning 81,220 square feet and a warehouse area covering 46,631 square feet, the company is poised to enhance its manufacturing capabilities and meet the growing demand for high-quality medical devices.

Datuk Wira Arham Abdul Rahman, CEO of MIDA, expressed, “The opening of Masimo Medical Technologies Malaysia’s facility is a clear testament to the country’s growing influence in the global medical technology landscape. It is not only signifying a major leap for Masimo Malaysia but also strengthens the medical devices ecosystem in the Southern Region. It underscores the confidence in Malaysia’s business-friendly environment and the robustness of our medical device supply chain, affirming the country’s status as a preferred destination for high-value manufacturing and innovation-driven investments. This fully export-oriented project will be supported by Malaysian technical workforce with more than 27% of the total manpower ranging from managerial, technical, and supervisory category.”

“The initiative aligns with the New Industrial Master Plan 2030, aiming for a more integrated medical devices industry to enhance competitiveness through better resource use, cost savings, increased innovation, and advanced product development. MIDA is excited to support Masimo Malaysia’s growth, which complements our strategy to make Malaysia a leading hub for medical technology development and manufacturing.”, added Datuk Wira Arham.

“We are thrilled to celebrate the grand opening of Masimo Medical Technologies Malaysia Sdn. Bhd. and reaffirm our commitment to advancing medical technology and patient care in Malaysia,” said Mr. Jayakumar Krishnan, Plant Manager of Masimo Medical Technologies Malaysia Sdn. Bhd. “Our cutting-edge facility represents a significant investment in the future of healthcare, and we are excited to leverage Malaysia’s strategic location and robust infrastructure to drive innovation and growth in the region.”, he added.

Since its inception in September 2022, Masimo Medical Technologies Malaysia Sdn. Bhd. has made significant strides in establishing its presence in the region. From the commencement of the hiring process and site commissioning to the completion of production area renovations and commencement of direct labour hiring, the company has demonstrated unwavering commitment and determination in realising its vision of improving patient outcomes and reducing the cost of care.

As the company embarks on this new chapter of growth and expansion, it remains steadfast in its mission to improve patient outcomes and revolutionise the healthcare industry through innovation, collaboration, and excellence.

In 2023, the medical devices industry saw the approval of 26 projects, attracting investments totalling RM2.1 billion. Among these, nine new projects accounted for RM773.9 million (36.3%) of the investments, while the remaining 17 were expansion or diversification projects, contributing RM1.4 billion (63.7%).

– 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, Tik Tok and YouTube.

About Masimo

Masimo (NASDAQ: MASI) is a global medical technology company that develops and produces a wide array of industry-leading monitoring technologies, including innovative measurements, sensors, patient monitors, and automation and connectivity solutions. In addition, Masimo Consumer Audio is home to eight legendary audio brands, including Bowers & Wilkins, Denon, Marantz, and Polk Audio. Our mission is to improve life, improve patient outcomes, and reduce the cost of care. Masimo SET® Measure-through Motion and Low Perfusion™ pulse oximetry, introduced in 1995, has been shown in over 100 independent and objective studies to outperform other pulse oximetry technologies.1 Masimo SET® has also been shown to help clinicians reduce severe retinopathy of prematurity in neonates,2 improve CCHD screening in newborns,3 and, when used for continuous monitoring with Masimo Patient SafetyNet™ in post-surgical wards, reduce rapid response team activations, ICU transfers, and costs.4-7 Masimo SET® is estimated to be used on more than 200 million patients in leading hospitals and other healthcare settings around the world,8 and is the primary pulse oximetry at 9 of the top 10 hospitals as ranked in the 2022-23 U.S. News and World Report Best Hospitals Honor Roll.9 In 2005, Masimo introduced rainbow® Pulse CO-Oximetry technology, allowing noninvasive and continuous monitoring of blood constituents that previously could only be measured invasively, including total hemoglobin (SpHb®), oxygen content (SpOC™), carboxyhemoglobin (SpCO®), methemoglobin (SpMet®), Pleth Variability Index (PVi®), RPVi™ (rainbow® PVi), and Oxygen Reserve Index (ORi™). In 2013, Masimo introduced the Root® Patient Monitoring and Connectivity Platform, built from the ground up to be as flexible and expandable as possible to facilitate the addition of other Masimo and third-party monitoring technologies; key Masimo additions include Next Generation SedLine® Brain Function Monitoring, O3® Regional Oximetry, and ISA™ Capnography with NomoLine® sampling lines. Masimo’s family of continuous and spot-check monitoring Pulse CO-Oximeters® includes devices designed for use in a variety of clinical and non-clinical scenarios, including tetherless, wearable technology, such as Radius-7®, Radius PPG®, and Radius VSM™, portable devices like Rad-67®, fingertip pulse oximeters like MightySat® Rx, and devices available for use both in the hospital and at home, such as Rad-97® and the Masimo W1® medical watch. Masimo hospital and home automation and connectivity solutions are centered around the Masimo Hospital Automation™ platform, and include Iris® Gateway, iSirona™, Patient SafetyNet, Replica®, Halo ION®, UniView®, UniView :60™, and Masimo SafetyNet®. Its growing portfolio of health and wellness solutions includes Radius T°® and Masimo W1 Sport.

Additional information about Masimo and its products may be found at www.masimo.com. Published clinical studies on Masimo products can be found at professional.masimo.com/evidence/featured-studies/feature/.

MIDA

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

Masimo

Ms. Daphne Tan
PR Director, XIN° Communications
Email: [email protected]

Masimo Malaysia Unveils Its First Medical Device Production Facility in Johor

IPOH, PERAK, MALAYSIA, 1 MARCH 2024 – China-based manufacturer of solar encapsulant film, Zhejiang Sinopont Technology Co., Ltd. established its first manufacturing facility outside China in Ipoh, Perak today. The opening ceremony was officiated by the Menteri Besar of Perak State, Yang Amat Berhormat Dato’ Seri Saarani Mohamad.

The opening ceremony was also attended by Perak State EXCO for Tourism, Investment, Industry and Corridor Development YB Loh Sze Yee, Chairman of Zhejiang Sinopont Technology Co., Ltd. Mr. Xianglai Cao, Director of the Malaysian Investment Development Authority (MIDA) Perak Office, Mr. Mohd Fairuz Iqbal Mohd Akhbar and and other government officials.

Zhejiang Sinopont Technology Co., Ltd. through its fully-owned subsidiary in Malaysia, Sinopont Everthriving (Malaysia) Sdn. Bhd. will immediately commence its operation in Tasek Industrial Park, Ipoh, Perak, producing solar cell encapsulant film with production capacity of 85 million square meter encapsulants to cover about 10 GW demand. Sinopont’s investment in Perak will be implemented in a few phases, and expected to reach the production capacity of 300 million square meter encapsulants to cover about 30 GW demand. Perak State and Sinopont will continue to collaborate in planning for future potential expansion projects in Perak, including potential to establish a comprehensive ecosystem for solar industry in Perak.

During Perak Menteri Besar’s investment promotion mission to the People’s Republic of China (PRC) in October 2023, Perak Investment Management Centre (InvestPerak) has signed a Memorandum of Understanding (MoU) with Sinopont Everthriving (Malaysia) Sdn. Bhd. to reinforce cooperation between both parties in ensuring project implementation in Perak including future project expansion will be successfully realized.

The Perak Menteri Besar in his opening ceremony speech mentioned “Sinopont’s decision to invest in the state of Perak not only reflects the advantages of our state’s business environment, but also demonstrates our shared commitment to promote economic growth while preserving the environment for future generations. Perak is now an investment destination that is increasingly attracting the interest of various investors both from domestic and foreign investors, further strengthened by the rapid growth of infrastructure, skilled workforce, and active support from the government to industry players in line with the “Pelan Perak Sejahtera 2030” agenda, which focusing on investor friendly program. These factors make Perak an attractive choice destination for companies looking for a strategic location to start and expand their business operations.”

Datuk Wira Arham Abdul Rahman, Chief Executive Officer of MIDA expressed his support and excitement, saying “This collaboration between Zhejiang Sinopont Technology Co., Ltd. and Malaysia, facilitated by MIDA, reflects our commitment to reinforcing Malaysia’s stature as a central hub in the global renewable energy landscape. The establishment of Sinopont’s manufacturing facility in Perak not only positions Malaysia for a more influential role in the global solar market but also leverages our strategic advantages to spur innovation and sustainable growth within the renewable energy sector. This landmark investment is in line with the objectives of Malaysia’s New Industrial Master Plan (NIMP) 2030, aimed at focusing on advancing economic complexity and fostering innovation-driven growth.”

“I am confident that this venture of Sinopont will contribute to Malaysia’s ecosystem in developing the circular economy industry and will strengthen the resilience of our supply chains landscape,” added Datuk Wira Arham.

The CEO of InvestPerak, Mr. Mohamad Hashim Abdul Ghani highlighted “The investment made by the company is a testimony of strong confidence showed by foreign investors to Perak. The State government will assist, provide support, and facilitate any new investments coming to Perak. For strategic project, InvestPerak will issue a ‘fast-track letter’ to expedite approvals required by company from authorities to ensure smooth implementation of the project. InvestPerak will continuously working hand in hand with MITI and MIDA to promote Perak as the preferred investment destination in Malaysia.”

The investment by Sinopont Everthriving (Malaysia) Sdn. Bhd. is expected to create employment opportunities to about 300 Malaysian once it is running at full capacity. Through this project, Sinopont will strengthen the ecosystem of solar panel manufacturing industry in Malaysia, particularly within the Northern Region of Malaysia.

****

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.

About InvestPerak:

Perak Investment Management Centre (PIMC) also known as InvestPerak, was established in January 2006 to serve as the ‘First Point of Contact for Investors’ in the manufacturing and services sectors in Perak. It primarily acts as the principal investment promotion agency of the Perak State Government and reports directly to the YAB Menteri Besar Perak. Perak State Government have mandated InvestPerak as the secretariat for Centre of Investment (COI), which empowereds the function of InvestPerak as the facilitator in assisting investors to invest in Perak. To facilitate the implementation of investment projects in Perak, COI@InvestPerak have has the authority to issue ‘Fast-Track Letter’ for strategic projects, which put the investment projects as a priority for all relevant agencies in their approval process. Apart from that, InvestPerak complements the role that the Malaysian Investment Development Authority (MIDA) plays at the Federal Government level, in terms of investment promotion and relevant incentives offering. InvestPerak also works closely with other related government departments and agencies, business chambers and industrial associations to ensure that the industries in Perak continue to grow and flourish.

About Zhejiang Sinopont Technology Co., Ltd.:

Sinopont is one of the leading enterprises in encapsulant film in China. We are a solid national high-tech enterprise engaged in the research and development, production, and sales of unique polymer films. We are the only authorized manufacturer and distributor of 3M POE & EVA films worldwide. Since its establishment, the company has been committed to the research and development, production, and sales of high-end functional films, including pure POE, EVA, and white film. We are at the forefront of the industry in terms of product performance. Our products have passed the tests and certification of TUV, SGS, UL, and other professional institutions, as well as ISO9001 certification, 14000 environmental system certifications, and certification for the mark of manufactured products in Zhejiang. Since the company’s inception, the total number of employees has exceeded 1,200 and the size of the company continues to grow.

Media Contacts

MIDA
Ms. Siti Halimaton binti Mohd Rejab
Director of Chemical Division and Advance Materials
T: +603 2267 6701
E: [email protected]

InvestPerak
Mr. Mohamad Noor Arif Zakaria
Investor Relations Manager
T: +6013-4475312
E: [email protected]

Zhejiang Sinopont Technology Co., Ltd
Mr. Siyu Zhai
Assistant General Manager
Sinopont Everthriving (Malaysia) Sdn. Bhd.
[email protected]
05-5412255

Zhejiang Sinopont Technology Co., Ltd. Establishes Its First Manufacturing Facility Outside China in Perak, Malaysia