Cochlear Malaysia spending up to RM10m to expand operations
18 Apr 2024
Cochlear Malaysia is undertaking an expansion exercise of up to RM10 million and is committed to continue grow and broaden its operations in the country.
“The current expansion we are going through is in the range of about RM10 million, excluding all the tools and equipment,” manufacturing and logistics vice-president Samuel Pooranakaran said at a press conference today after a site tour of Cochlear Malaysia’s manufacturing, servicing and corporate facility.
In terms of total investment to date, the company has invested close to RM50 million since 2016 for manufacturing-related activities.
Samuel said the company is mindful that it would need to expand its operations space from the current premises within the next few years. “There is growth but it will be driven by the market, but definitely we are committed and we are going to be here for a long time,” he remarked.
Meanwhile, Cochlear (Asian growth markets) general manager Amy Zheng said Cochlear’s investment into its local manufacturing facilities will have a spillover or positive impact on its overall business in Malaysia.
She pointed out that its first implant surgery involving its Cochlear product in Southeast Asia was performed in Malaysia.
“We have really worked hand in hand with the (local) healthcare professionals … we definitely want to work with the government and look into ways so that we can have more patients access it,” she said.
As part of its Australia-Southeast Asia Business Exchange programme, Australia’s assistant minister for trade and assistant minister for manufacturing Senator Tim Ayres led a delegation comprising 23 leading Australian businesses in the maritime, decarbonisation and renewable energy sectors to Malaysia and Singapore.
“There is a very strong record of two way investment and trade between Malaysia and Australia.
“Trade sits at about A$30 billion (RM92.5 billion) a year and our two-way investment is very strong, (with) Malaysian firms investing in Australian industrial capability and Australian firms like Cochlear announcing new expenditure and new expansions here but there’s enormous room for growth,” he said.
Source: The Sun
