DexCom to begin construction of facility in early February, says InvestPenang
26 Jan 2021
DexCom, Inc. will begin construction of its manufacturing facility on a 28-acre (11.33-hectare) site in the Batu Kawan Industrial Park, Penang in early February 2021 after missing its initial target of the second half (2H) of last year.
The delay was caused by the movement control order (MCO) and cross-border travel restrictions, said Datuk Datuk Loo Lee Lian, chief executive officer of InvestPenang, Penang government’s principal agency for promotion of investment.
Currently, she said Dexcom is also working closely with the Malaysian Investment Development Authority (MIDA), Immigration Department, Penang Development Corporation (PDC), and the local council to facilitate the execution of the project on ground.
“The progress is largely on track and the project plan remains unchanged.
“Typically, the construction is expected to take at least 12 to 14 months to complete,” she told Bernama.
In June 202, the state government announced that Dexcom will be building its third and newest facility, which will also be its first outside of the United States.
Dexcom develops, manufactures and distributes continuous glucose monitoring systems for diabetes management.
With a revenue of US$1.5 billion in 2019, Dexcom is a globally-recognised innovative medical technology cum data-driven company.
The S&P 500 constituent is a continuous glucose monitoring (CGM) system pioneer that is reshaping the industry landscape, bringing a profound positive impact to people living with diabetes.
In 2019, there are approximately 450 million diabetic adults globally.
Meanwhile, Loo said Penang recorded RM10.6 billion in total investments for the first nine months of 2020.
In 2021, she said Penang will continue to focus on strengthening its competitive edge to attract high-quality foreign and domestic manufacturing direct investments.
This include domestic direct investment (DDI) and foreign direct investment (FDI), particularly in the sectors of electrical and electronics (E&E), automation and E&E-related equipment, and medical technology.
“The availability of qualified talent is a critical factor in attracting FDI and DDI, and the state’s success in attracting strategic investments translates into thousands of new, high-quality job opportunities every year.
“This has made Penang the talent magnet in the northern region. The state will endeavour to identify, nurture and develop local talent, and the economy, to its fullest potential,” she added.