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Think Tank Meets Deal-Maker: MIDA-MIER Budget Insights Forum – A New Era of Collaboration and Growth

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KUALA LUMPUR, 3 December 2024 – Malaysia’s premier investment promotion agency, the Malaysian Investment Development Authority (MIDA), joined forces with the economic think-tank, the Malaysian Institute of Economic Research (MIER) to co-host the Budget Insights Forum: Moving Towards 2025, a half-day event that brought together business leaders, investors, and policymakers to discuss Malaysia’s economic outlook heading into its 2025 ASEAN Chairmanship.

The event held at MIDA Sentral saw CEOs, investors, and policy leaders engage in open and dynamic discussions about Malaysia’s economic future. The distinguished line-up of moderators and panellists, comprising industry thought leaders and economic experts, delivered insightful presentations and impactful discussions that provided a comprehensive 360-degree view of Malaysia’s economic landscape, offering attendees a unique perspective on the country’s prospects and opportunities for growth.

Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid, CEO of MIDA, emphasised the importance of today’s forum, stating, “Hosting the inaugural MIDA-MIER Budget Insights Forum is an exciting milestone for us. This platform unites key thought leaders to delve into pressing macroeconomic and industrial trends that will shape Malaysia’s future. As we set our sights on 2025, the insights shared here today are more critical than ever. They spotlight the need for strategic foresight in a world of constant change – perfectly aligning with MIDA’s mission to cultivate a resilient and innovative business ecosystem. I am confident the ideas and conversations we spark here today will help businesses and policymakers tackle challenges head-on while uncovering exciting new opportunities for long-term success.”

Dr. Anthony Dass, Executive Director of MIER, highlighted that the MIDA-MIER Budget Insights forum set a new standard for economic cooperation in Malaysia, marking a crucial milestone in the country’s efforts to achieve more inclusive and sustainable growth. “By fostering a culture of collaboration and open dialogue between the public and private sectors, the event became a driving force for Malaysia’s economic progress. With a distinguished lineup of industry leaders and economic experts, the forum offered valuable insights and practical recommendations that will help shape Malaysia’s economic strategy and pave the way for a prosperous future in 2025 and beyond.”

The first panel session, “Macroeconomic Overview and Implications,” featured an in-depth analysis of global economic dynamics where experts examined the potential impact of the U.S. Presidential Election, Malaysia’s upcoming ASEAN Chairmanship, and evolving USA-China relations. The session highlighted Malaysia’s strategic position within ASEAN and its growing influence in the BRICS economic sphere.

Professor Dr. Yeah Kim Leng, the Director of the Economics Studies Programme, Sunway University highlighted, “The US tariff threats not just against China but other nations as well are expected to intensify when President-elect Donald Trump takes office in January 2025. As evidenced by the surge in FDI inflows, Malaysia has gained from the China Plus One strategy adopted by global multinational companies in response to the escalation of US-China trade disputes during Trump’s first term and continued through the Biden administration. With Trump’s threats of higher tariffs made during his campaign speeches, Malaysia will need to prepare for a more uncertain and turbulent global trade environment in the coming years. Besides derisking its supply chains, Malaysia could leverage on free trade agreements such as the Regional Comprehensive Economic Partnerships (RCEP) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) to mitigate any adverse impact on its economy should a new round of US-China trade war materialise”

The second panel session, “Industrial Growth and Investment,” focused on practical strategies for business development and economic resilience. Key topics included supply chain optimisation, talent development initiatives, and sustainable business practices. Particular emphasis was placed on Malaysia’s digital economy transformation and innovation ecosystem.

Mr. Jacob Lee Chor Kok, the Vice President of the Federation of Malaysian Manufacturers (FMM) cited, “The Malaysian manufacturing sector has demonstrated resilience in the first half of 2024, maintaining stability amid global challenges. Looking ahead, the sector is poised for continued growth, driven by a recovering global economy and supportive domestic policies. Manufacturers are strategically expanding operations to meet rising demand while prudently managing costs and workforce expansion. This balanced approach positions the sector for sustainable growth and innovation.”

This forum set a new benchmark for economic cooperation in Malaysia, paving the way for a more inclusive and sustainable growth trajectory by fostering a culture of collaboration and dialogue between the public and private sectors.

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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. Surayu Susah
Director, Strategic Planning & Policy Advocacy (Manufacturing) Division
Email: [email protected]
Tel.: +603-2267 6773

MIER
Isnani Binti Ismail
Information Officer
Email : [email protected]
Tel.: +603-2142 5897

Think Tank Meets Deal-Maker: MIDA-MIER Budget Insights Forum – A New Era of Collaboration and Growth

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JOHOR BAHRU, 28 November 2024 – BMW Group Malaysia today commemorated the 20th Year Anniversary of the BMW Group Regional Parts Distribution Centre in Malaysia, marking this significant milestone with a landmark expansion of the cutting-edge facility, located at the Free Industrial Zone of the Senai International Airport in Johor Bahru.

The BMW Group Regional Parts Distribution Centre, established in Malaysia in 2004, has expanded its state-of-the-art facility to 65,000 square meters, from its initial 45,000 square meters. This expansion reinforces BMW’s commitment to the region and solidifies its position as one of the largest such facilities in the Asia Pacific.

Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid, Chief Executive Officer of the Malaysian Investment Development Authority (MIDA), congratulated BMW on its 20th Anniversary and the launch of Phase 2 of its Regional Parts and Distribution Center in Senai, Johor. Highlighting the significance of this milestone, he remarked:

“BMW’s growth journey in Malaysia over the past 20 years is not just a story of business growth; it is a testament to shared vision, technological advancement, and exceptional performance. This expansion is a powerful affirmation of Malaysia’s position as a strategic gateway to the region, where innovation and opportunity converge. This facility is more than an operational hub; it symbolises BMW’s trust in our ecosystem while reinforcing Malaysia’s role as an integral part of its Asia Pacific supply chain, serving a dual purpose of supporting BMW’s after-sales operations and functioning as a strategic base for their regional supply network. With our excellent connectivity, skilled talent pool, and forward-thinking policies, MIDA remains committed to paving the way for BMW’s continued success and inspiring others to invest in Malaysia’s boundless potential.”

Meanwhile, Benjamin Nagel, Managing Director of BMW Group Malaysia said, “As we celebrate 20 years of our Regional Parts Distribution Centre in Malaysia, we reflect on the significance of this facility, not only in terms of the success of the BMW Group as the leading premium automaker in Malaysia, but also in reinforcing the status of Malaysia as a strategic logistics hub for the group in the Asia Pacific region. Since the beginning, the facility and its capabilities has stood as a symbol of operational excellence, having evolved into a state-of-the-art facility that is recognised regionally and globally.”

The recent expansion of the BMW Group Regional Parts Distribution Centre introduces several notable improvements, including a purpose-built High Voltage (HV) Battery Storage Area and a modern Very Narrow Aisle (VNA) racking system. The facility’s two-story configuration provides opportunities for future expansion, while the integration of a solar panel roof supports BMW Group’s broader sustainability initiatives.

Financial Milestones and Operational Excellence

Since its establishment at the Free Industrial Zone of the Senai International Airport in Johor Bahru, the BMW Group Regional Parts Distribution Centre has demonstrated sustained growth in its annual turnover, growing its business capabilities from EUR 141 million in 2017 to EUR 277 million in 2023, over 97% and almost double from when the facility first began operations.

Underscoring its financial milestones, the facility handles over 100,000 lines of inventory in and out monthly, maintaining around 90% service level to over 20 diverse markets in the region, reflecting its robust capability of meeting varying market requirements. The facility manages on stock nearly 52,000-part numbers, around 30 of which are High Voltage Batteries, while maintaining an on-time picking and packing rate of over 99% and a rate of 99.5% on items delivered in excellent condition. 15 units of 40-foot containers to BMW Group’s sea freight markets are dispatched weekly, while 33,000 cubic metres of airfreight delivery are made each week. Closer to home, the facility manages 42 trucks for outbound deliveries to Malaysia, Singapore, and Thailand each week.

The expanded BMW Group Regional Parts Distribution Centre not only strengthens the BMW Group’s logistical capabilities but also positions the facility to support the region’s evolving automotive landscape. The BMW Group’s continued investments in Malaysia ensures it remains at the forefront of operational excellence, reinforcing the country’s pivotal role in the Group’s success for years to come.

**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.

About BMW Malaysia Sdn. Bhd. 

BMW Group Malaysia is the representative of Bayerische Motoren Werke (BMW) AG in Malaysia with activities that cover the wholesale of BMW, MINI and BMW Motorrad vehicles, spare parts and accessories as well as the overall planning of sales, marketing, after-sales, and other related activities in Malaysia. The organisation’s presence in the country includes its National Sales Centre (NSC) in Cyberjaya and BMW Assembly Facilities at the Kulim Hi-Tech Park, Kedah which supports the Malaysian region as well as the BMW Group Data Centre (GDC), BMW Group Regional Training Centre (RTC) in Cyberjaya and BMW Group Parts Distribution Centre (PDC) at the Free Industrial Zone of the Senai International Airport in Senai, Johor which supports 22 markets in the Asia-Pacific region. BMW dealership network covers 39 outlets in various cities in Malaysia.    

Website:          www.bmw.com.my     
Facebook:       http://www.facebook.com/BMW.Malaysia    
Instagram:      http://www.instagram.com/bmwmalaysia   
YouTube:        http://www.youtube.com/bmwMYS   

Issued by:   
BMW Malaysia Sdn Bhd  

Sashi Ambihaipahan   
Director of Corporate Communications and Sustainability, Malaysia   
Telephone: +60123817182, Fax: (+603) 8887 3801   
Email: [email protected]   
Media Website: www.press.bmwgroup.com   

Chan Ai Ling    
Corporate Communications Assistant Manager, Malaysia   
Telephone: +6016 2763488, Fax: (+603) 8887 3801   
Email: [email protected]   
Media Website: www.press.bmwgroup.com   

For more information, please contact:

MIDA
Ms. Noorzita Binti Mohamad Nor
Director of Business Services and Regional Operations Division, MIDA
T: 03-22632438
E: [email protected]

VoxEureka
Sarah James / Alaynna Sta Maria / Yeong Wen Joe / Thanuj Kuhen Sivaganesan
T: +6012 246 1506 / +6016 244 6610 / +6017 870 6252 / +6017 304 9975
E: [email protected] / [email protected] / [email protected] / [email protected]

BMW Group Malaysia Expands Regional Parts Distribution Centre in Johor, Marking 20 Years of Growth and Excellence

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– Strengthening of ASEAN Manufacturing Base in Kedah, Malaysia –

Kedah, Malaysia, 21 November 2024 – CKD Corporation (CKD, Head Office: Komaki City, Aichi Prefecture, President and CEO: Katsuhito Okuoka) today has unveiled construction of its state-of-the-art manufacturing facility in Kulim Hi-Tech Park, marking a significant milestone in Malaysia’s industrial development. The facility spans 80,000 square meters, with 16,000 square meters dedicated to advanced manufacturing operations.

The strategic investment aims to strengthen CKD’s production system for component products across the ASEAN region, enabling rapid response to expanding global demand in general manufacturing industries. The new facility incorporates advanced manufacturing technologies and sophisticated supply chain management systems, ensuring timely delivery capabilities for customers worldwide.

The opening ceremony drew distinguished guests including the Chief Minister of Kedah, Dato’ Seri Haji Muhammad Sanusi Md Nor and senior officials from the Malaysian Investment Development Authority (MIDA), highlighting the strategic importance of this investment for the region.

Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid, CEO of MIDA, emphasised the investment’s strategic significance, “Today’s inauguration of CKD’s state-of-the-art facility represents a significant milestone in our journey toward achieving the New Industrial Master Plan 2030 vision. This investment embodies the kind of high-technology, future-ready manufacturing capabilities that Malaysia seeks to cultivate. CKD’s commitment to establishing advanced manufacturing operations in Kedah not only validates Malaysia’s position as Asia’s preferred investment destination but also accelerates our transformation into a regional technology hub. MIDA remains committed to facilitating such strategic investments that will shape Malaysia’s industrial future.”

CKD Chairman Kazunori Kajimoto said, “In 1984, we expanded into Malaysia with our first overseas base, and on the 40th anniversary year, we are pleased to be able to open this new plant. Through this new plant, we will work together with government officials, customers and our employees to realise the further development of Malaysia and the future we are aiming for.”

-END-

About Invest Kedah
Invest Kedah Berhad (IKB) is the Investment Promotion Agency (IPA) for the State of Kedah, serving as the primary point of contact and One-Stop Centre for all investments into the state. Entrusted by the Kedah State Government, IKB’s mission is to attract, facilitate, and support business investments in Kedah. The agency plays a vital role in coordinating with government agencies and local authorities to ensure a seamless setup process for both local and international investors, from pre-investment through post-investment stages. In the first half of 2024, Invest Kedah helped the state secure RM31.9 billion in investments, ranking among the top 5 states in Malaysia. For more information, please visit www.investkedah.com and follow us on our social media platforms.

About CKD Corporation
CKD is a comprehensive machinery manufacturer engaged in development, production, sales and service of automated machinery and equipment products for industrial use. Based on automation and fluid control technologies, CKD supports a wide range of manufacturing sites producing a wide variety of products. CKD will continue to contribute to the protection of the global environment and the creation of an affluent society through our business, and work towards the realization of a sustainable society. For more information about CKD, please visit https://www.ckd.co.jp/en/.

For more information, please contact:

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

Invest Kedah Berhad
Corporate Communication Department
T: +604-7027373 | E: [email protected]

CKD Corporation
Sustainability Promotion Dept., Public Relations and Branding Group
Email address: [email protected]　
TEL: +81-568-74-1234

CKD Corporation Inaugurates State-of-the-Art Manufacturing Plant in Malaysia

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Penang, 18 November 2024 — Keyto MY Sdn. Bhd., a subsidiary of Shenzhen Keyto Fluid Technology Co. Ltd., today officially inaugurated its cutting-edge fluid technology manufacturing plant in Batu Kawan, Penang. This significant investment underscores Malaysia’s growing importance as a global manufacturing hub. Keyto MY’s new facility will enhance the country’s industrial capabilities and diversify its high-tech manufacturing sector. The plant is expected to generate projected sales revenue of RM65 million over the next three years, reflecting robust growth potential.

The grand opening ceremony was attended by key dignitaries, including YAB Tuan Chow Kon Yeow, Chief Minister of Penang; Mr. Muhammad Ghaddaffi Sardar Mohamed, Director of the Malaysian Investment Development Authority (MIDA) Penang; Dato’ Loo Lee Lian, Chief Executive Officer of InvestPenang; Mr. Zhou You Bin, Chinese Consul General in Penang; and Mr. Zhang Cheng, Chairman of Shenzhen Keyto Fluid Technology Co. Ltd.

YAB Tuan Chow Kon Yeow, Chief Minister of Penang, stated, “With a legacy of five decades of industrialisation and a reputation for innovation and technological excellence, the state offers a thriving industrial ecosystem that naturally attracts investors.” He further added, “It is with great pride to note that Keyto MY marks not only the company’s first presence in Malaysia, but also Keyto’s first overseas manufacturing plant, located in Southeast Asia.”

Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid, welcomed Keyto MY’s investment, highlighting the critical role of foreign investment in driving Malaysia’s industrial development. He stated, “The launch of Keyto MY’s facility marks a significant milestone for Malaysia’s economy at large, aligning with the strategic vision of the New Industrial Master Plan (NIMP) 2030 to drive industrial growth and technological advancement. By focusing on high-precision components and fluid technology, this investment will not only attract additional foreign investments, but also fosters innovation, creates high-quality job opportunities for Malaysians, and strengthen our position in the global value chain. MIDA remains committed to supporting companies like Keyto MY to solidify Malaysia’s position as a global leader in fluid technology manufacturing.”

Mr. Zhang Cheng, Chairman of Shenzhen Keyto Fluid Technology Co. Ltd., emphasised the strategic importance of the Batu Kawan facility in Keyto’s global expansion strategy. “This new plant marks a significant milestone in our global growth,” stated Mr. Zhang. “Malaysia’s strategic location, coupled with its skilled workforce and business-friendly environment, provides us with the ideal platform to deliver advanced fluid technology solutions to customers worldwide.”

The long-term impact of Keyto MY’s presence in Penang goes beyond industrial growth. “Our investment is not just in physical infrastructure; it’s about empowering Malaysia’s next generation of engineers and professionals,” noted Mr. Zhang Cheng. “We are committed to nurturing local talent, fostering innovation, and contributing to the development of a sustainable high-tech ecosystem.”

The new 3,540 square metre manufacturing facility will produce fluid management systems and precision components vital for medical devices, life science instruments, and environmental monitoring. The first phase of the facility will focus on manufacturing a range of fluid management solutions, including high-performance pumps, valves, and fluid systems, positioning Keyto MY as a key player in the region’s fluid technology supply chain to meet rising demand across multiple industries.

As a subsidiary of Shenzhen Keyto Fluid Technology Co. Ltd., a company with a solid international presence, Keyto MY Sdn. Bhd. brings extensive expertise, industry knowledge, and a global perspective to drive both local and international business success. The plant will feature innovative technologies aimed at maximising production efficiency, maintaining rigorous quality control, and ensuring sustainable manufacturing 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 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 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; TikTok.

About Keyto MY Sdn. Bhd.
Keyto MY Sdn. Bhd., a subsidiary of Shenzhen Keyto Fluid Technology Co. Ltd., is a leading manufacturer and supplier of high-precision microfluidic control components and advanced fluid management systems. The company specializes in providing innovative solutions that are crucial in medical devices, life science instruments, and environmental monitoring systems—industries where precise fluid control is essential for optimal performance and reliability.

With a robust engineering foundation, Keyto MY designs and manufactures fluid management systems that ensure the accurate and efficient handling of liquids in complex and critical applications. The company’s product range includes high-performance pumps, valves, and fluidic components, which are integral to ensuring the functionality and safety of equipment in various fields.

Dedicated to innovation, sustainability, and quality, Keyto MY employs advanced manufacturing techniques and stringent quality control to deliver solutions that meet the highest standards. The company is committed to advancing fluid technology and supporting the growth of high-tech industries worldwide.

As part of Shenzhen Keyto Fluid Technology Co. Ltd.’s broader global strategy, Keyto MY Sdn. Bhd. aims to expand its influence as a regional leader in fluid technology. By combining cutting-edge technologies with a strong focus on customer-centric solutions, the company is poised to meet the increasing demand for reliable, high-precision fluid control systems in critical sectors.

For more media inquiries, please contact:

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

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

Keyto MY Sdn. Bhd.
Mr. Teoh Kee Hock
Director
Email: [email protected]
Tel: 019-717 5661

Keyto MY Boosts Malaysia’s High-Tech Manufacturing with New Advanced Fluid Facility

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JOHOR BAHRU, 15 November 2024 – The Johor Economic, Tourism, and Cultural Office (JETCO), in collaboration with the Malaysian Investment Development Authority (MIDA), Invest Johor, and esteemed industry partner Philip Morris (Malaysia) Sdn. Bhd., the Malaysian affiliate of Philip Morris International proudly hosted the Malaysia Electronics Supplier Summit at the Renaissance Johor Bahru Hotel on 13 November 2024.

This summit, supported by the Johor State Government and corporate partners KPMG in Malaysia, OCBC Bank Malaysia, EcoWorld, and ZiLin Properties, showcased the state’s unwavering commitment to enhancing the global electronic device manufacturing ecosystem, particularly in the Electronics Manufacturing Services (EMS) sector. The event also spotlighted the government’s continuous efforts to create an environment conducive to investment and innovation.

Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid, CEO of MIDA, articulated the summit’s significance with fervor, stating, “The Malaysia Electronics Supplier Summit is a testament to Malaysia’s relentless pursuit of excellence in high-tech industries. By providing a dynamic platform for dialogue and forging strategic partnerships, we are resolute in our mission to bolster Malaysia’s competitive edge on the world stage. These transformative events not only fuel sustainable growth but also empower our local suppliers, cementing Malaysia’s pivotal role as a premier global supply chain hub driving innovation and success.”

Datuk Seri Hasni Mohammad, Executive Chairman of JETCO, in his closing remarks, emphasised JETCO’s pivotal role in connecting and facilitating arrangements between stakeholders in Johor. He highlighted the agency’s commitment to fostering strategic partnerships that contribute to the continued success of Johor’s economic development initiatives. Following his remarks, a Letter of Intent (LOI) signing took place between Datuk Seri Hasni Mohammad and Professor Antonio Scialletti, MBA Program Director & Strategy Professor of Rome Business School (RBS). This collaboration aims to select high-performing individuals and further upskill them through RBS’s programs, with the initiative set to commence in 2025.

Philip Morris (Malaysia) Sdn. Bhd., the Malaysian affiliate of Philip Morris International, praised Johor’s highly skilled workforce, advanced infrastructure, and world-class expertise in high-end electronics manufacturing, noting that Johor, with its business friendly initiatives and innovative ecosystem, is an ideal location for foreign and domestic investment by companies aiming to access Southeast Asian and global markets.

The Malaysia Electronics Supplier Summit showcased Johor as a premier investment destination for the electronics sector, emphasising its strategic location, skilled workforce, robust infrastructure, and strong government support. The event brought together industry leaders and stakeholders, highlighting Johor’s pivotal role in the global supply chain and its potential for sustained growth and innovation.

**The End**

About MIDA

About JETCO

Johor Economic, Tourism & Cultural Office Singapore (JETCO) is Johor State Government agency that is responsible in linking Johor agencies to various stakeholders in Singapore.

JETCO which started operating in Singapore in 2022, plays a pivotal role in highlighting economic opportunities, promoting tourism, and showcasing Johor’s rich cultural heritage to Singapore and beyond.

Through various initiatives and events, JETCO aims to facilitate collaboration and partnership between agencies in Johor and Singapore, in line with recent key development such as Johor-Singapore Special Economic Zone. For more information, visit our website at jetcojohor.com and our social media account.

For more information, please contact:

MIDA

Mr. Mohamad Reduan bin Mohd Zabri
Director of MIDA Johor
T:+6072245500 E: [email protected]

JETCO

Miss Adibah Izah binti Zamani
Assistant Manager
Johor Economic, Tourism and Cultural Office Singapore (JETCO)
176, Orchard Road
05-05 The Centrepoint, Singapore 238843
E: [email protected]

JETCO and MIDA Collaborate in Electronics Supplier Summit, Forging Innovation and A World-Class Ecosystem in Johor

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PENANG, 12 November 2024 – Dexcom Malaysia Sdn. Bhd. (Dexcom), a renowned global leader in continuous glucose monitoring for people with diabetes, today celebrated the opening of its new state-of-the-art facility at Batu Kawan Industrial Park (BKIP), Penang. The facility will house Dexcom’s Trinity North and South Campus operations on a 28-acre plot, spanning approximately 887,510-square-feet.

The inauguration of the new facility was attended by YAB Tuan Chow Kon Yeow, Chief Minister of Penang, ADUN Bukit Tambun; Dato’ Aziz Bakar, Chief Executive Officer of Penang Development Corporation; Dato’ Loo Lee Lian, Chief Executive Officer of Invest Penang; Ms. Norbaya Kamaludin, Director, MITI, Pulau Pinang; Mr. Faizal Jalaludin, Executive Director, Investment Promotion, MIDA; along with Mr. Jake Leach, Chief Operating Officer; Mr. Barry Regan, Executive Vice President of Global Operations; Mr. Columba McGarvey, Managing Director and Vice President of Operations, Dexcom Malaysia; YB Tuan Goh Choon Aik, and representatives from government agencies, industry partners, Dexcom’s senior leadership, key customers, suppliers and employees.

YAB Tuan Chow Kon Yeow, Chief Minister of Penang stated, “The establishment of this new facility highlights Dexcom’s continued commitment to take control of health through innovative continuous glucose monitoring (CGM) systems. It also reaffirms Penang’s reputation as a global hub for advanced technological industries, reinforcing its position as a preferred destination for high-quality manufacturing and innovation.”

He added, “Leveraging on over 50 years of industry excellence, Penang is on the right path towards becoming the MedTech Hub of Southeast Asia. Housing the largest amount of MedTech companies nationally and regionally, Penang remains a highly attractive location for its infrastructure availability and ecosystem that meet the needs of the MedTech industry.”

Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid, Chief Executive Officer (CEO) of MIDA highlighted the transformative impact of Dexcom’s investment, stating, “Dexcom’s establishment in Malaysia signifies a pivotal moment for our medical devices sector. This state-of-the-art facility will drive advancements in our point-of-care segment, leading to the creation of high-value job opportunities and facilitating technology transfer. This project aligns with the objectives of our New Industrial Master Plan 2030, particularly in fostering economic complexity through innovation and nurturing a skilled talent pool. MIDA is confident that the country’s supply chain resilience will further bolster Dexcom’s growth trajectory in Malaysia by enhancing the local supplier ecosystem.”

“It’s a proud day for all of us here at Dexcom Malaysia as we unveil this new facility, an investment that speaks to our commitment for both our world-class continuous glucose monitoring technology and for Malaysia, and Penang specifically, as a premier location for advanced medical device manufacturing. We’re investing not only in facilities and high-volume automation – but also in people and the power of local talent,” said Mr. Columba McGarvey, Managing Director and Vice President of Operations, Dexcom Malaysia.

“Today’s ribbon cutting represents a meaningful step forward in our journey of innovation and impact,” added Dexcom Chief Operating Officer, Mr. Jake Leach. “Dexcom was founded 25 years ago with the mission to facilitate and improve the health of people with diabetes. Today, we can proudly say that we have done just that and much more, pioneering an entire industry that has transformed how people with diabetes manage their health.”

Dexcom’s new facility will be instrumental in meeting the growing demand for its technology in the Asia-Pacific region. This investment reinforces Dexcom’s commitment to quality, community, and growth in Malaysia.

**The End**

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 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; TikTok.

For more information, please contact:

MIDA

Ms. Azlina Binti Hamdan
Director of Life Sciences and Medical Technology Division, MIDA
T: 03-2267 3791
E: [email protected]

InvestPenang

Elaine Cheah / Arief Ferdaus
Communications & Business Intelligence
T: +604-646 8833
E: [email protected] / [email protected]

Dexcom Celebrates the Inauguration of Its New Facility in Penang, Boosting Malaysia’s Medical Technology Ecosystem

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Leading Agri-Commodity Company and Dairy Industry Giant Join Forces to Invest in Eco-Friendly Protein Production in Johor Bahru

Johor Bahru, Malaysia, 5 November 2024 – A new chapter in sustainable food manufacturing has begun with the groundbreaking ceremony for a state-of-the-art facility in Tanjung Langsat, Johor, held yesterday, dedicated to producing plant-based protein from environmentally-friendly pulses. This project, a joint venture between Agrocorp International and Megmilk Snow Brand, marks the formation of Agro Snow, a partnership poised to revolutionise the plant-based food sector with innovative, sustainable production methods. By harnessing the power of pulses, such as lentils, chickpeas, and beans, the facility will produce high-quality plant-based protein with a significantly lower carbon footprint and water usage compared to traditional protein sources.

Renowned for their low environmental impact and high nutritional value, pulses will be the primary ingredient driving the environmental benefits of this facility’s production. Once operational, the factory is expected to become a major source of affordable, sustainable protein for food manufacturers across Asia, fuelling the growth of the plant-based food industry and supporting the region’s transition to more sustainable dietary choices.

YAB Dato’ Onn Hafiz Ghazi, the Menteri Besar Johor expressed the State’s appreciation, “We are delighted to welcome this new investment in Johor, which underscores our commitment to fostering sustainable economic growth in the region,” said Y.A.B. Dato’ Onn Hafiz Ghazi, Chief Minister of Johor, “The Johor-Singapore Special Economic Zone offers a unique advantage for businesses, providing seamless cross-border collaboration and access to resources. This project not only strengthens our economic ties with Singapore but also enhances Johor’s position as a hub for sustainable food manufacturing in Asia.”

Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid, CEO of the Malaysian Investment Development Authority (MIDA), emphasised the project’s alignment with national objectives, “This groundbreaking venture exemplifies the high-impact, future-forward investments MIDA seeks to attract to Malaysia. The Agro Snow facility aligns with our New Industrial Master Plan (NIMP) 2030, advancing Malaysia’s position in the alternative protein segment while strengthening our reputation as a premium food ingredients hub. The facility’s focus on functional food, health-conscious trends, and halal certification opens new global opportunities, while its advanced technology and sustainable processes align with our goals for safer, efficient, and eco-friendly production. This investment represents exactly what we envisioned: a perfect blend of advanced technology, environmental responsibility, and economic growth.”

The plant is expected to be completed by the first quarter of 2026 with a production capacity of 6,000 metric tonnes of pulse protein isolates a year and will employ approximately 80 people from the local community, contributing to economic growth and job creation. This joint venture sets a strong example of how collaboration and innovation can drive positive change, paving the way for a more sustainable food system.

“We are thrilled to break ground on this project, which represents a significant step for Agrocorp as our aim is to be at the forefront of nourishing a changing world,” said Vishal Vijay, CEO, Agrocorp International. He added, “We are grateful to Megmilk for giving us their trust and partnering on this venture. It is our hope that the pedigree of our two companies, as well as the competitive advantage we gain from being in Johor, will allow Agro Snow to become a leading supplier of plant-based ingredients to the region.”

Takashi Mori, managing executive officer, Megmilk Snow Brand, added, “With growing global demand for diverse, sustainable food sources, plant-based ingredients are emerging as a key solution. Leveraging our expertise and quality control from the dairy industry in Japan, we aim to revitalise the global plant-based food market and continue offering new, sustainable options through the production and sales from this project.”

According to MarketsandMarkets Research Pvt. Ltd. (June 2024), the global plant-based protein market is projected to reach USD20.5 billion by 2029, fuelled by shifting consumer preferences towards healthier, more sustainable dietary choices. This market encompasses a diverse array of products derived from plants, including soy, pea, wheat, and rice, offering alternatives to traditional animal-based proteins. With the rise of vegetarian, vegan and flexitarian lifestyles, demand for plant-based protein products has surged across various food categories, ranging from meat substitutes to dairy alternatives and beyond.

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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 Agrocorp International

Agrocorp is a global agri-commodity firm specialising in the sale and processing of staple food products such as wheat, pulses and rice to leading food manufacturers in the Asia Pacific and Middle Eastern regions. Headquartered in Singapore, Agrocorp started trading agri-commodities in 1990 and has since grown to achieve over USD3 billion in turnover, handling more than 30 agri-commodity products across 50 countries. Agrocorp is also one of the leading traders of pulses in the world and operates plants in Australia, Canada and the US that process pulses into value-added products like protein and starches. In 2023, the company announced a joint-venture with one of Japan’s largest dairy companies, to operate a pulses protein extraction facility in Johor Bahru, Malaysia, to serve the plant protein needs in the region by 2026. In addition, the company has also launched its downstream plant-based food brand, HerbYvore, all part of its vision to better nourish a changing world through responsible and sustainable sourcing and food production. Agrocorp is the recipient of the 2022 EY Family Business Excellence Award. For more information, please visit: www.agrocorp.com.sg or follow along on LinkedIn and Facebook.

About Megmilk Snow Brand

One of MegmilkSnow Brand’s predecessors was the Hokkaido Cooperative Creamery Association. Inheriting the pioneering spirit of those who strove to create a new foundation for dairy farming through the strength of cooperation, we have been involved in Japan’s dairy farming industry for over 90 years. In 2011, Snow Brand Milk Products Co., Ltd. and Nippon Milk Community Co., Ltd. merged to develop our business centered on milk and dairy products. Since the founding of Snow Brand Milk Products, our main products aredairy products such as butter and cheese, which boast the top market share. In recent years, yogurt and functional foods have also become pillars of growth. In research and development, we conduct research on milk and lactic acid bacteria that can contribute to the maintenance and improvement of consumer health. We aim to resolve social issues through the business of dairy farming, preserve a healthy and rich environment, and grow our business sustainably.

About Agro Snow

Agro Snow is a joint venture between Agrocorp International and Megmilk Snow Brand, two industry leaders committed to sustainability and innovation. This joint venture seeks to leverage the strengths of both companies and will see the setting up of a factory in Malaysia to manufacture soy-free plant protein extracted from climate-friendly pulses that can be used in a variety of plant-based food applications in plant-based beverages. The factory, located at Tanjung Langsat, Johor Bahru, is expected to be operational in early 2026, with a production capacity of 6000 metric tonnes of pulse protein isolates a year.

For Media Inquiries, Please Contact:

MIDA
Ms. Manjit Kaur Balkar Singh
Director, Food Technology & Resource Based Industries Division
Tel: +603-22673509
Email: [email protected]

Agrocorp International
Lena Tan
Head of Corporate Communications
Tel: +65 9665 1690
Email: [email protected]

Agro Snow’s Groundbreaking Ceremony Marks a Major Step Towards a Sustainable Future with Joint Venture Plant Protein Facility

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GDS and MIDA highlight key partnerships to accelerate the growth of Malaysia’s data centre supply chain ecosystem

Key Highlights of the Data Centre Supply Chain Ecosystem Summit:

MOU Exchange between GDS and SIRIM to boost quality and standards of data centre industry
MOU Exchange with global suppliers forging stronger connections in Malaysia’s data centre supply chain
GDS launches talent programs to train skilled digital professionals
400 attendees from the data centre supply chain ecosystem attended the summit, showcasing the latest in trend technology

KUALA LUMPUR, 27 OCTOBER 2024 – GDS International, a leading developer and operator of high-performance data centres, with Malaysian Investment Development Authority (MIDA) as the strategic partner has successfully hosted the Data Centre Supply Chain Ecosystem Summit in Johor today. The event gathered over 400 attendees across the data centre supply chain, as well as industry leaders and key government agencies, showcasing the latest technology trends, reaffirming Malaysia’s position as a key player in the global digital economy.

The summit featured the exchange of a significant Memorandum of Understanding (MOU) between GDS and SIRIM to improve quality and standards in the data centre industry. Additionally, GDS also exchanged MOUs with global suppliers, further strengthening Malaysia’s data centre supply chain. These partnerships will bring an estimated RM1 billion investment for integrated factories and service centers, contributing over RM5 billion annually to the economy and creating up to 5,000 local jobs.

YB Liew Chin Tong, Deputy Minister of Investment, Trade and Industry (MITI), commended the collaboration between MIDA, GDS, and key industry stakeholders, stating, “The partnerships established today exemplify the government’s commitment to cultivate an ecosystem that nurtures technological advancement and innovation, strengthening the foundation and development of the country’s digital infrastructure.

The five key considerations for the data centre industry should be:

Creation of meaningful job opportunities
Localisation of its supply chain
Water consumption
Power consumption
Prevention of speculative build

I am glad to note that GDS, a key player in Malaysia’s data centre industry, has hosted this summit in alignment with our goals to empower local companies for active participation in the data centre supply chain.”

Witnessing this momentous occasion, Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid, CEO of MIDA, stated, “Positioned at the heart of the region, Malaysia’s expanding network of data centres and cloud infrastructure is crucial for facilitating cross-border data flow. Beyond data storage and processing, these data centres provide a veritable goldmine of opportunities for our small and medium-sized enterprises to plug into the global value chain. And, this in turn fosters the development of our local talent, drives technological innovation, and fuels economic growth within the ecosystem.”

GDS’s leadership expressed their continued commitment to advancing Malaysia’s digital landscape. “The success of this summit reflects the strength of Malaysia’s data centre supply chain and our shared vision to build a sustainable digital future. Malaysia is a land of opportunity and innovation, and we are dedicated to harnessing this potential by fostering collaboration across the industry and with key stakeholders. Together, we can drive significant growth, enhance our capabilities, and position Malaysia as a leading hub for data centre services in the region,” said William Huang, Chairman of GDS.

Malaysia is making remarkable strides in its digital economy, with an approved RM185.3 billion in digital investments from 2021 to June 2024. Data centre and cloud investments accounted for the lion’s share of these total approved investments, at RM131 billion. This serves as a testament that Malaysia is on the right track towards becoming a leading digital hub in the region.

**The End**

About MIDA

About GDS

GDS is a leading developer and operator of high-performance data centers in Asia. Our facilities are strategically located in primary economic hubs where demand for high-performance data center services is concentrated. With a track record spanning 23 years, GDS has successfully delivered services to some of the largest and most demanding customers in need of outsourced data center solutions. Recognizing the potential for growth in Asia, GDS established its international headquarters in Singapore in 2021.

For more information, please contact:

MIDA
Ms. Noorzita Mohamad Nor
Director, Business Services and Regional Operations, MIDA
Email: [email protected]
Tel: +603-2267 3635

GDS
[email protected]

Setting the Stage: GDS Summit Showcases Data Centre Supply Chain Ecosystem, Further Strengthening Malaysia’s Digital Infrastructure

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PENANG, 26 October 2024 – Amphenol DC Electronics Malaysia Sdn. Bhd. (Amphenol), a global provider of engineering, design, and manufacturing services, celebrated the grand opening of its new 70,000 sq. ft facility in Penang today, with the potential for an additional 60,000 sq. ft in Phase 2. This expansion significantly increases the company’s footprint in the region to over 130,000 sq. ft, demonstrating its commitment to growth and innovation in Malaysia while greatly enhancing its capacity and capabilities.

The inauguration of the facility was attended management and staff of Amphenol, government officials including Mr. Muhammad Ghaddaffi bin Sardar Mohamed, Director of MIDA Penang, as well as the company’s key customers, suppliers and community partners.

Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid, Chief Executive Officer (CEO) of MIDA congratulated the company, affirming, “I extend my warmest congratulations to Amphenol on the launch of their new manufacturing facility in Malaysia. We’re committed to attracting high-tech, high-value investments that drive innovation and create skilled job opportunities for Malaysians. Amphenol’s decision to establish a presence here underscores Malaysia’s strong reputation in the global electrical and electronics (E&E) industry. I’m confident that this partnership will make a significant contribution to our nation’s continued economic growth and technological advancement.”

Meanwhile, Mr. Ruben Macias, General Manager of Amphenol DC Electronics (United States HQ), remarked, “We are thrilled to expand our operations in Malaysia, particularly in Penang, which has long been recognised for its strategic importance in the semiconductor sector.”

“This new facility will enable us to meet growing demand, accelerate innovation, and further contribute to Malaysia’s economy. The Penang Facility is fully in charged by Local Management” Mr. Chan Chee Wey, Amphenol DC Electronics Sdn. Bhd. Plant Director.

Located at Penang Science Park, the new facility equipped for Cable Assembly and Box Build, will serve as a major hub for manufacturing, creating 300 jobs and fostering local talent in Malaysia’s semiconductor industry. This state-of-the-art facility underscores Amphenol’s commitment to innovation, sustainability, and regional growth.

To learn more about the new Penang facility and Amphenol’s capabilities in the region, please visit https://www.dcelectronics.com.

**The End**

About MIDA

About Amphenol DC Electronics

Amphenol DC Electronics, Inc. (ADCE) is a custom cable assembly and wire harness manufacturing company specializing in the design, engineering, and manufacturing of custom wire harnesses, cable assemblies, and integrated electronic mechanical devices. Established in 1979 and acquired by Amphenol in 2013, ADCE has built a reputation for uncompromising quality, innovation, and delivery excellence. For more information, visit our website.

For more information, please contact:

MIDA

Ms. Noor Suziyanti Binti Saad
Director of Electrical and Electronics Division
T: 03-2267 3575
E: [email protected]

Amphenol DC Electronics

Mr. Chan Chee Wey
Site Operations Manager
T: 04-5456611
E: [email protected]

Amphenol Opens New Facility in Penang, Strengthening Commitment to Growth and Innovation

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New Factory in Penang to Create 1,000 Jobs and Boost Malaysia’s Manufacturing Sector

ANDOVER, Massachusetts, United States; Kuala Lumpur, Malaysia., 24 October 2024 – MKS Instruments, Inc. (NASDAQ: MKSI), a global provider of technologies that transform the world, celebrated the groundbreaking ceremony of its super center factory in Penang, Malaysia to support the growing needs of semiconductor equipment for wafer fabrication in the region and globally. The state-of-the-art facility will be located on a 17-acre plot, spanning approximately 500,000 square feet. and will employ approximately 1,000 people. The new factory will be built in multiple phases, with the first phase scheduled for completion in the first half of 2026.

ADUN Bukit Tambun and Director of InvestPenang, YB Goh Choon Aik stated, “Penang, renowned as the Silicon Valley of the East, has cemented its position as a preferred global destination for electronics and electrical investments in Southeast Asia. With a legacy of five decades of industrialisation and a reputation for innovation and technological excellence, the state offers a thriving industrial ecosystem that naturally attracts investors. MKS Instruments’ expansion into Penang is a testament to the state’s appeal as a preferred investment destination, supported by its robust ecosystem.”

YB Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz, Minister of Investment, Trade and Industry (MITI), welcomed MKS Instruments to Malaysia, stating, “This groundbreaking super center factory is a resounding affirmation of Malaysia’s speedy implementation of the New Industrial Master Plan 2030, and MITI’s firm commitment to expedite targeted, high-tech investments with the support agencies like MIDA and InvestPenang. More importantly, this will create opportunities for better integration of local SMEs into global companies’ supply chains, while creating high-skilled, higher-paying jobs in cutting-edge sectors for Malaysians. I am confident MKS’s investment will help strengthen our semiconductor sector, supporting MITI’s positioning of Malaysia as a regional manufacturing and services hub for high-tech industries.”

Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid, CEO of the Malaysian Investment Development Authority (MIDA), lauded MKS Instruments’ milestone, stating, “This momentous occasion presents a golden opportunity for our machinery and equipment (M&E) companies to showcase their prowess in producing high-value products and integrated services that meet the exacting standards of multinational corporations (MNCs). MIDA remains steadfast in its commitment to supporting and facilitating investments that enhance operational capabilities, ultimately catalysing the meteoric rise of Malaysia’s manufacturing sector, a true ‘industrial powerhouse’ in the making.”

“Penang offers an attractive and rapidly growing semiconductor ecosystem, and building a significant presence here is part of our strategic and long-term capital planning,” said Dr. John T.C. Lee, President and Chief Executive Officer of MKS. “Adding Penang to our global footprint puts us closer to our customers, suppliers and a robust technology infrastructure, including a deep and talented labour pool, as we continue to spur innovation and enhance our capabilities as a leader across a broad array of semiconductor manufacturing applications.”

MIDA reported that for the first half of 2024 (1H2024), the Machinery and Equipment (M&E) sector saw promising growth, with a total of 64 projects approved, amounting to investments valued at RM2.8 billion. These projects are anticipated to create significant opportunities, generating over 3,500 new jobs and contributing to the sector’s continued development and expansion in Malaysia.

*****

About MIDA

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 www.mks.com.

For more information, please contact:

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

InvestPenang
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]

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, as amended and Section 21E of the Securities Exchange Act of 1934, as amended, regarding MKS’ construction of a factory in Malaysia and the projected timeline. 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.

MKS Instruments Breaks Ground on Super Center Factory in Malaysia

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Kuala Lumpur, 16 October 2024 –In response to the growing demand for skilled talent in Malaysia’s rapidly advancing manufacturing sector, the Malaysian Investment Development Authority (MIDA) and the Malaysian Technical Universities Network (MTUN) today announced a strategic partnership aimed at developing high-skilled talent through Technical and Vocational Education and Training (TVET).

Speaking at the event, Datuk Sikh Shamsul highlighted the importance of such partnerships in ensuring Malaysia’s competitive edge in the global economy. “This collaboration exemplifies the synergy between MIDA and institutions of higher learning. By joining forces, we will cultivate a new generation of high-skilled professionals who are perfectly attuned to the evolving needs of Malaysia’s thriving industrial landscape We aim to create high-skill job opportunities and build a competitive workforce ready to drive economic transformation in line with the New Industrial Master Plan 2030 and the MADANI Economy Framework.”

Professor Dato’ Ts. Dr. Zaliman Sauli, Vice Chancellor of UniMAP, expressed “”At UNIMAP, we aim to create industry ready skilled graduates who can innovate and lead. Our collaboration with MIDA will enhance our programmes to meet the challenges of the modern E&E workforce.”

Professor Datuk Ts. Dr. Massila Binti Kamalrudin, Vice Chancellor of UTeM, commented “Collaborating with MIDA to align education with industry needs is a great way to ensure that graduates are equipped with the skills and knowledge necessary for careers in advanced manufacturing and computing technologies. This kind of partnership can significantly enhance job readiness and drive innovation in the field.”

Profesor Dato’ Ir. Ts. Dr. Ruzairi Abdul Rahim, Vice Chancellor UTHM, emphasised, “UTHM is committed to shaping future leaders in engineering and technology. Our collaboration with MIDA will empower our students with the essential skills to thrive in high-tech industries.”

Professor Dato’ Ts. Dr. Yusserie Zainuddin, Vice Chancellor UMPSA stated, “These partnerships highlight the importance of strong university-industry relations in fostering a dynamic and agile educational ecosystem. Today’s ceremony represents a major milestone in developing programmes that align directly with the skills required by sectors such as manufacturing, engineering and technology. MTUN serves as a crucial bridge between academia and industry, ensuring that our graduates are not only academically proficient but also technically skilled—qualities that are in high demand in today’s fast-paced industries.”

The MoU outlines several key focus areas, including aligning labour market supply with industry demand, developing human capital through TVET talent development programmes, and strengthening collaboration between academic institutions and industries. The partnership will also facilitate the transfer of knowledge from industry to academia, particularly in talent development.

As part of the event, Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid, CEO of MIDA, was conferred the title of Adjunct Professor under the CEO@Faculty programme, recognising his leadership and contribution to bridging industry and academia. The event also featured several MoU exchanges between MTUN and key industry players, underscoring the collaboration’s broad impact.

– THE END –

About MIDA

For media enquiries, please contact:

MIDA

Ms. Azrina Binti Hashim
Director, Industry Talent Management and Expatriate
Email: [email protected]
Tel.: +603-2267 3454

MIDA Inks Partnership with Technical Public Universities, Driving Growth Of Malaysia’s High-Skilled Workforce

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Pioneering Collaborations and Approved Green Projects Highlight MIDA’s Commitment to Boosting Green Investments in Malaysia

Seven companies participated in the MoU exchange, including five involving Solarvest Group and its partners, with a total investment exceeding RM1.0 billion.

MIDA announced four quality green projects from January to June 2024, totaling to an amount of RM1.8 billion, focused on Renewable Energy (RE) and Green Mobility.

Chery Corporate Malaysia is investing RM1.4 billion to build a cutting-edge manufacturing plant and R&D centre for energy-efficient vehicles (EEVs).

Asiabina Solar, NEDA Pekan, and Sand Town Solar are making significant investments in large-scale solar photovoltaic (LSSPV) plants in Perak and Pahang, supporting Malaysia’s renewable energy and carbon reduction goals.

Kuala Lumpur, 10 October 2024 – Malaysia’s drive towards a sustainable future took a significant step forward as the Malaysian Investment Development Authority (MIDA) successfully hosted a Memorandum of Understanding (MoU) exchange ceremony at the International Greentech & Eco Products Exhibition and Conference Malaysia (IGEM) 2024. This milestone event marked a major milestone in the country’s journey towards achieving its Green Investment Strategy (GIS) goals, which were launched by the government on 19 August this year.

A total of (7) seven companies participated in the MoU exchange, with (5) five exchange involving Solarvest Group and its partners. These MoU exchanges, with a cumulative investment value exceeding RM1.0 billion, are poised to make a significant impact on Malaysia’s green technology landscape.

The MoU exchange ceremony was witnessed by Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid, Chief Executive Officer of MIDA, and Ir. Ts. Shamsul Bahar Mohd Nor, Group Chief Executive Officer of the Malaysian Green Technology and Climate Change Corporation (MGTC).

Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid, CEO of MIDA, remarked, “Since MIDA’s first participation in IGEM in 2010, we have successfully generated substantial business leads, making this event pivotal to Malaysia’s green investment landscape. We continue to be a strategic partner, as we work towards attracting more green investments into the country. Now in our 15th year, MIDA aims to generate RM2.5 billion in investment leads over the three (3) days. Every handshake here, every discussion, every agreement brings us one step closer to realising Malaysia’s net-zero vision.”

Solarvest Group Partners include Vista Contracting & Investment Global Pte. Ltd., a subsidiary of Samsung Group, Greenrock Energy Co. Ltd, Alliance Bank Malaysia Berhad, UKM Pakarunding Sdn. Bhd., and Chailease Holding Co. The collaboration aims to advance sustainable energy solutions in Malaysia, focusing on the development of solar photovoltaic projects including the Corporate Renewable Energy Supply Scheme (CRESS), the deployment and operation of Battery Energy Storage Systems (BESS), enhancing academic and research cooperation in renewable energy, and providing green financing for renewable energy project development. These strategic partnerships are set to significantly boost the growth of Malaysia’s renewable energy sector.

Meanwhile, the remaining (2) two MoUs involve Green Quarter Sdn. Bhd. and its partners, Wezmart International Berhad and Crex Private Limited. These collaborations shall focus on enhancing sustainability initiatives and providing consultancy services related to ESG and carbon emissions reduction.

Ir. Ts. Shamsul Bahar Mohd Nor, Group CEO of MGTC, further reiterated, “Through collaboration, stakeholders can leverage their respective strengths and resources to push the boundaries of green technology adoption in Malaysia. This partnership will help our country achieve its sustainability targets and position it as a frontrunner in the global green economy. With its role in promoting investment and industrial development, MIDA can facilitate the integration of green technologies into various sectors of Malaysia’s economy.”

The event also featured the announcement of four quality green projects approved by MIDA for the period from January to June 2024, totaling to an amount of RM1.8 billion. These projects, approved under the Renewable Energy (RE) and Green Mobility levers as identified in the Green Investment Strategy (GIS), underscores MIDA’s commitment in promoting sustainable development in Malaysia, and driving the nation’s ambitious goal of attracting RM300 billion in green investments by 2030, as outlined in GIS.

The quality projects announced include:

Chery Corporate Malaysia Sdn. Bhd.: Chery Malaysia is making a significant investment of RM1.4 billion to establish a cutting-edge manufacturing plant and R&D centre in Malaysia. This facility will focus on producing Energy Efficient Vehicles (EEVs), including a range of electric passenger vehicles, reinforcing the company’s commitment to sustainable mobility and innovation.

Asiabina Solar Sdn. Bhd.: Asiabina Solar is investing RM200 million in the development of a Large Scale Solar Photovoltaic (LSSPV) plant located in Parit Buntar, Perak. The facility is expected to generate 50 MW of green energy. Additionally, the plant is expected to reduce carbon emissions by 100,000 tonnes annually, significantly supporting the nation’s environmental goals.

NEDA Pekan Sdn. Bhd.: NEDA Pekan, a strategic joint venture between Gamuda Berhad and ERS Energy Sdn. Bhd., is investing RM121 million to develop and manage a Large Scale Solar Photovoltaic (LSSPV) plant in Pekan, Pahang. The plant is projected to reduce carbon emissions by 43,700 tonnes annually, further enhancing Malaysia’s environmental sustainability.

Sand Town Solar Sdn. Bhd.: Sand Town Solar, a wholly-owned subsidiary of Gading Kencana Sdn. Bhd., is investing RM113 million in a Large Scale Solar Photovoltaic (LSSPV) plant located in Bidor, Perak. This state-of-the-art facility will generate 29.99 MW of green energy under the NEDA framework, underscoring the company’s commitment to a greener future. This plant is expected to reduce carbon emissions by 25,900 tonnes annually.

This year’s IGEM also featured MIDA moderating the 2^nd Annual National Conference on Energy Efficiency, as well as presenting at the Innovation Stage, focusing on the incentives that are currently offered by MIDA. Additionally, networking and B2B consultation sessions were also held with Canadian companies, an initiative led by the High Commission of Canada in Malaysia.

Recognising the growing importance of green initiatives across all sectors, the Green Incentives have been extended until 2026, as outlined in Budget 2024. This extension includes enhancements based on a tiered and outcome-based approach. Under the enhanced incentives, the qualifying activities for the Green Incentives have been expanded to include emerging green technologies such as green hydrogen, EV charging stations, and wind energy. These initiatives demonstrate the government’s proactive approach in driving the adoption of cutting-edge green technologies, paving the way for a more sustainable and environmentally responsible future for Malaysia.

-ENDS-

About MIDA

For media enquiries, please contact:

MIDA

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

MIDA Drives Green Investments Momentum with Strategic MOU Exchange and Announcement of Quality Green Projects at IGEM 2024

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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.

– THE END –

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.

– THE END –

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.

-END-

About MIDA

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.

***THE END***

About Malaysian Investment Development Authority (MIDA)

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

About Alliance Bank Malaysia Berhad

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

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

For media enquiries please contact:

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

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

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

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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.

***The End***

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

About 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.

– END –

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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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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