Penang’s GDP may surpass national average: Guan Eng
GEORGE TOWN: Penang may surpass the national average of Gross Domestic Product (GDP) growth with at least a 6% rise for this year, said Chief Minister Lim Guan Eng. Lim said that the figure is an upgrade from what was achieved last year where Penang achieved a GDP growth of 5.6%. “Our growth has outperformed […]
Renesas celebrates 45 years in Penang
EMPLOYEES of Renesas Semiconductor (Malaysia) Sdn Bhd celebrated their 45th anniversary in style. At a party themed ‘Night of Colours’, the staff dressed up like celebrities including some in sarees and punjabi suits. Besides songs, there was also a laser display at the bash at the SPICE Convention Centre in Relau, Penang. Chief Minister Lim […]
Withholding Tax Exemption
As published by the Attorney General Chamber (AGC), Minister of Finance II has provided ministerial exemption on the recent changes to the Withholding Tax on services performed overseas. The effective the date for the relief is 6 September 2017. The exemption provides relief for services performed overseas, effectively rolling back the status to pre 17 January 2017. The law, […]
Penang tops in manufacturing with RM7.7b investments
GEORGE TOWN, Oct 20 — Penang topped the national list in approved investments of RM7.7 billion in the manufacturing sector for the first half of 2017. Penang Chief Minister Lim Guan Eng said the total approved investments for the first half of this year surpassed the total investments in the sector last year. “The RM7.7 […]
Toray sets up new unit in Penang
Toray Malaysia Systems provides IT services GEORGE TOWN: Toray Group (Malaysia), wholly-owned by Toray Industries Inc, Japan and one of the pioneers of Penang’s industrialisation programme, has expanded its business operations in Penang with the establishment of yet another company, namely Toray Malaysia Systems Solution Sdn Bhd (TMS). TMS was established on May 2 with […]
TORAY establishes IT excellence centre in SPICE
Source: Buletin Mutiara Posted by Buletin Mutiara on Thursday, October 12, 2017 “Toray has successfully established Toray Malaysia Systems Solution (TMS) Sdn Bhd with MSC status based in Penang to provide “Global Business Service” to its group of companies locally and abroad. “TMS is expected to create over 100 new jobs in the next 2 or […]
Vitrox investing RM130mil to expand ops
GEORGE TOWN: Vitrox Corp Berhad will invest RM130mil to expand its operations this and next year in view of the growing demand for its test equipment and systems. Group chief executive officer Chu Jenn Weng told StarBiz that about half of the capital expenditure would be for 2017, and the remainder for 2018. “The group has so far […]
Envoy: Penang has what it takes to lure MNCs
GEORGE TOWN: The US Ambassador to Malaysia is optimistic that the business climate in Penang will continue to attract more multinational corporations to the state, with some existing ones planning on expansion. Kamala Shirin Lakhdhir (pic) said Penang plays an important role in the smart technology era which has become a driving force for companies to […]
US Ambassador: More American companies looking to invest in Malaysia; existing companies to expand their businesses
GEORGE TOWN: Several prominent American companies, currently operating in Malaysia, are looking to expand their businesses with further investments on the cards soon. United States Ambassador to Malaysia, Kamala Shirin Lakhdhir, said new American companies have also expressed their intentions to invest in Malaysia in general and Penang in particular. She however did not provide […]
Broadcom launches RM59m global distribution warehouse in Penang
SEBERANG PERAI, Sept 19 — Leading semiconductor supplier Broadcom Limited opened a new RM59 million global distribution warehouse in Batu Kawan here today. The warehouse, which will complete the backend of Broadcom’s supply chain, will ship over 90 per cent of Broadcom’s products directly to its customers. “Broadcom’s estimated export revenue by 2018 will be around […]
Broadcom to become largest E&E exporter
NIBONG TEBAL: Leading global supplier of diverse analog and digital semiconductor connectivity solutions, Broadcom Limited, will be the biggest electrical and electronic (E&E) exporter in Malaysia next year. International Trade and Industry Minister Datuk Seri Mustapa Mohamed said Broadcom’s export value is expected to hit about RM65 billion, which is roughly 8% of the country’s total […]
IKEA breaks ground in Penang
KUALA LUMPUR (Sept 12): IKEA today held the groundbreaking ceremony for its fourth store in Malaysia located in Batu Kawan, Penang. The Swedish furniture chain said the store is set to open in 2019 and will be within a one-hour drive for more than 825,000 households in Penang. “It will be easy for millions of […]
Boston Scientific�s first Asian factory in Penang starts operation
KUALA LUMPUR: New York-listed Boston Scientific Corp has commenced operation at its new manufacturing plant in Batu Kawan Industrial Park, Penang. This is the 19th global manufacturing facility for the medical device giant, and its first in Asia. An official opening ceremony will take place in February next year. According to its vice-president and general […]
UST Global Malaysia Inaugurates New Facility in Penang, Malaysia
PENANG, Malaysia, September 8, 2017 /PRNewswire/ — UST Global Malaysia Intends to Boost the Company’s APAC Market Focus UST Global, a leading digital technology services company, today announced the opening of a new facility in Penang, Malaysia. This facility will be UST Global’s second centre in Penang. Commenting on the new facility, Amar Chhajer, Country Head of Malaysia, UST Global, said, “We […]
FOM Invests RM120 Mln On New Plant
GEORGE TOWN, Aug 29 (Bernama) — Federal Oats Mills Sdn Bhd (FOM), producer of homegrown Captain Oats, is investing RM120 million to build a new facility in an effort to expand its production capacity. Executive Director Michael Chew said the new plant would cater to growing demand for oat-based products, adding that the global oats […]
Swarovski to open Asia GBS centre in Penang
GEORGE TOWN: Austrian crystal and jewellery maker Swarovski will open its Asian Global Business Services (GBS) centre in Penang by the end of this year. The GBS centre will handle all finance and administration matters that require access to Asian markets. Swarovski executive vice-president of global operations (finance and administration) Marcel Angst said Penang was […]
Taiwanese firm reinvests RM1b into Penang
KUALA LUMPUR (June 16): Hotayi Electronics (M) Sdn Bhd, a Taiwanese-owned electronic manufacturing services (EMS) company, is re-investing RM1 billion to expand its vertical integration segment at the Batu Kawan Industrial Park on mainland Penang. Chief Minister Lim Guan Eng said phase one of the construction would involve a 250,000 sq ft facility, which is […]
Osram opens new R&D centre in Penang, creates 300 new jobs
GEORGE TOWN, June 8 ? Leading lighting manufacturer, Osram Opto Semiconductor, opens its first global solid state lighting (SSL) headquarters and research and development (R&D) centre today, opening up 300 new jobs in Penang. The new job openings, created for the SSL headquarters that was based in the old plant back in 2014, included 250 […]
Teleperformance Expands to Malaysia with New Site in Penang
Teleperformance (Paris:RCF), the global leader in outsourced omnichannel customer experience management, today announced its expansion into Malaysia. The site in Penang, opening in June 2017, will serve as another premium multilingual solutions hub for Teleperformance Asia Pacific. It will offer services in 25 languages from over 500 workstations. “Teleperformance’s award-winning Asia Pacific operations successfully delivers […]
Gold and jewellery cluster formed at Batu Kawan Industrial Park
GEORGE TOWN: Five goldsmith and jewellery manufacturing firms will invest RM49.6mil to start a gold and jewellery cluster at the Batu Kawan Industrial Park (BKIP). Penang Chief Minister Lim Guan Eng said the five companies that were part of the Penang Goldsmith Association would take up about 1.6ha at the BKIP. “Penang is the pioneer […]
International software company Luxoft sets up office in Penang
GEORGE TOWN: International software company Luxoft has set up an office in Penang. It will invest RM235mil investment in human capital and technology for the first five years. The locals will be able to benefit from the expected 500 job opportunities in IT and software development engineers that the company will create. Luxoft president and chief […]
Swedish Industrialized Building Systems to invest RM100mil in Penang
GEORGE TOWN: Industrialized Building Systems will invest about RM100mil in its production and research and development facility at the Penang Science Park to become the biggest Swedish investor in Penang so far. Managing director Erik Thomaeus (pic) said some 180 new jobs would be created when the factory is in full production. He said there […]
Penang announces RM63m Penang Automation Cluster
GEORGE TOWN, Feb 8 — The Penang state government today announced the formation of a RM63 million Penang Automation Cluster (PAC) in the Batu Kawan Industrial Park which is slotted to open by 2019. The small medium enterprise (SME) precision metal fabrication or automation cluster will be the first of its kind in Malaysia, as […]
Aemulus to invest RM25mil in R&D over next 3 years
PETALING JAYA: Aemulus Holdings Bhd plans to invest RM25mil in research and development (R&D) over the next three years following the purchase of a piece of land in the Bayan Lepas industrial estate, Penang. Aemulus, which designs and assemble automated test equipment and test and measurement instruments, said in a filing with Bursa Malaysia that it […]