[Press Release] TTM Technologies Celebrates the Grand Opening of its First Manufacturing Facility in Penang
The new facility is designed to meet the growing need to improve the resilience of the printed circuit board supply chain and expand geographic diversity April 25, 2024 – TTM Technologies, Inc. (NASDAQ: TTMI) (“TTM”), a leading global manufacturer of technology solutions including mission systems, radio frequency (“RF”) components and RF microwave/microelectronic assemblies, and quick-turn […]
[Press Release] Ultra Clean Holdings, Inc. Announces the Inauguration of its New RM250million Manufacturing Facility in Pulau Pinang
Ultra Clean Holdings, Inc. has opened a new manufacturing facility in Pulau Pinang, marking a major expansion in the semiconductor sector. Anticipated to generate an additional USD600 to USD800 million in revenue, significantly enhancing the local economy. From zero employees in 2020 to over 600 today, the facility boosts local employment and community involvement. The […]
[Press Release] LEM Inaugurates New High-Tech Plant in Malaysia
Electrical measurement technology specialist LEM has inaugurated a new €15.7m ($17m) state-of-the-art factory in Malaysia that combines environment-friendly design with advanced manufacturing technology. Setting up this new factory reflects LEM’s growth plan which is driven by increasing global demand for the company’s core products, current and voltage sensors. The need for decarbonization in mobility, industry, […]
Time is ripe for Malaysia to move upstream into designing chips
An employee inspects a printed circuit board at a production facility of automated test equipment designer Aemulus Holdings in Penang, Malaysia. © Reuters Wee Chian Koh is an economist with the ASEAN+3 Macroeconomic Research Office in Singapore. Marthe M. Hinojales and Hongyan Zhao are senior economists with the organization. April 11, 2024 — The increasingly […]
[Press Release] FinHero Welcomes NTT Data Corporation as a Stakeholder
March, 29 2024 – In a significant stride towards fostering financial inclusion, FinHero is honored to announce NTT Data Corporation’s stake in our journey. This collaboration, celebrated at Mercure Penang Beach Hotel, validates FinHero in the regional markets. FinHero (FinHero.asia) is a Penang based FinTech Startup, developing B2B financial solutions focusing primarily on Asian markets. […]
Malaysia: The Surprise Winner from US-China Chip Wars
March 11, 2024 — Tension between Beijing and Washington over access to technology has prompted many companies to open factories in south-east Asia Shortly after a Chinese company opened up nearby, employees at Malaysian contract manufacturer Kemikon walked outside their factory to find sheets of paper stuck to their car windshields. The flyers were from […]
[Press Release] Actiforce Establishes A RM50-Million, State-of-the-Art Manufacturing Facility in Penang
The new facility will serve as a hub for research and development (R&D), manufacturing and distribution of furniture fittings, catering to global customers’ demands March 5, 2024 – Actiforce, a global leader in the furniture components industry originating from the Netherlands, has officially achieved a new milestone in Malaysia with the opening of its […]
Prioritising Business-friendly Environment Key to Penang’s Success
March 1, 2024 — InvestPenang remains resolute in its commitment to enhancing the ease of doing business in Penang, says its chief executive officer Datuk Loo Lee Lian. Her comments came in the wake of Penang establishing itself as the top state in the country with approved investments of RM71.9 billion in 2023. Penang was […]
Malaysia’s Prime Minister Decries ‘China-phobia’ among US and Western Allies
Anwar Ibrahim says rivalry squeezes smaller countries as he courts investment for semiconductor supply chain Anwar Ibrahim at Greatech’s factory in Penang last week. The Malaysian premier has focused on resuscitating an economy battered by mismanagement and instability, prioritising manufacturing, energy and industry February 27, 2024 — Malaysia’s prime minister has condemned a rising tide of […]
[Press Statement] FMT’s Article “Emulate Kedah’s speedy approval process” dated 20 February 2024
With reference to the above article quoting NCIA’s Chief Executive Encik Harris Sultan’s comments that “businesses in other northern states, including Penang – would have to wait for up to two years for necessary approval”, the state would like to clarify that industrial projects in Penang are allowed to commence construction work once the Building […]
Penang On Track to Take the Lead in Manufacturing Sector, Says CM
February 19, 2024 — Penang is set to cement its status as the leading state for manufacturing in the country following the groundbreaking ceremony of its Batu Kawan Industrial Park III. Scheduled to be completed within the next few years, the park will complement the existing industrial parks around the state, especially the Bayan Lepas […]
BCVC Looks to Elevate Semiconductor Industry
February 13, 2024 – The Economy Ministry acknowledges the necessity of a collaborative effort involving both the government and the private sector to leverage the potential “tsunami” of investment opportunities, particularly within the semiconductor industry. Towards this end, its minister Rafizi Ramli invites venture capital (VC) firms and fund managers to contribute to Malaysia’s economic growth […]
Global Semiconductor Manufacturing Industry Poised For 2024 Recovery, Semi Reports
February 14, 2024 – The global semiconductor manufacturing industry recovery is taking hold with electronics and IC sales increasing in the final quarter of 2023 and more growth projected for 2024, SEMI announced today in its fourth quarter 2023 publication of the Semiconductor Manufacturing Monitor (SMM) report, prepared in partnership with TechInsights. In Q4 2023, electronics sales […]
[Press Release] Penang AgriTech & FoodTech Industry Council Spearheading Innovations Within Agriculture And Food Manufacturing Sectors To Cultivate A Sustainable Food System
February 1, 2024 – As part of the key initiatives to strengthen Penang’s position as an investment location for AgriTech, FoodTech, and other related sectors in Penang, InvestPenang has initiated the establishment of the Penang AgriTech & FoodTech Industry Council. The main objective of this council is to serve as a platform for collaboration and […]
MITI Sees Semiconductors as ‘New Oil’, Eyes Further E&E Development in Northern Peninsular Malaysia
January 25, 2024 – Given that semiconductors are now as central to world economies as oil has long been, it is time for Malaysia to build a world-class electrical and electronics (E&E) cluster in northern Malaysia, said Deputy Minister of Investment, Trade and Industry Liew Chin Tong. “Going forward, we are seeing Kedah, Penang, Perak […]
[Press Release] Advantech Officially Launched ASEAN Shared Service Center
Forming a Talent Development Ecosystem, Strengthening Regional Core Competencies and Localized Services, Achieving In-depth Industry Development and Implementation January 24, 2024 – Advantech (TWSE: 2395), a global leader in Industrial IoT, has officially established the ASEAN Shared Service Center (ASSC) in Penang, Malaysia, to enhance customer service in the Asia-Pacific region. The company initiated the […]
QES Group Invests RM40 Million In New Plant, Doubling Manufacturing Capacity
January 18, 2024 – QES Mechatronic Sdn Bhd, a prominent subsidiary of QES Group Berhad, has announced a groundbreaking new venture in Batu Kawan Industrial Park. The state-of-the-art facility, known as “QES 2@BKIP,” signifies a significant leap forward for the global semiconductor equipment manufacturer, showcasing an impressive RM40 million investment. The plant will be used […]
[Press Release] Nihon Handa Expands Operation in Penang to Cater for Growing Demand
January 16, 2024 – Nihon Handa Co., Ltd., a leading Japanese manufacturer of soldering and sintering materials, today announced the opening of a new factory and office location for its local subsidiary, Nihon Handa Manufacturing (Malaysia) Sdn. Bhd., in Batu Maung, Penang, Malaysia. This new factory is aiming to expand Nihon Handa’s solder supply capacity […]
Gartner Says Worldwide Semiconductor Revenue Declined 11% in 2023
Memory Revenue Poised to Record One of the Worst Downturns in History Intel Regained No. 1 Spot from Samsung Nvidia Made Debut in Top 5 Semiconductor Vendor Ranking January 16, 2024 – Worldwide semiconductor revenue in 2023 totaled $533 billion, a decrease of 11.1% from 2022, according to preliminary results by Gartner, Inc.“While the cyclicality […]
Penang’s Startup Ecosystem Receives Recognition with Georgetown as 8th Ranked City in Southeast Asia
Georgetown is 2nd highest-ranked city in Malaysia with KL at 4th spot Supporting startup ecosystem part of plan to attract high-tech industries Exabytes, a Penang based regional hosting company is widely considered to be the state’s most successful startup. Filepic shows it hosting students from Singapore’s Temasek Polytechnic in 2019. Piktochart is a respected […]
Govt to Establish Task Force to Grow Semiconductor Sector
Investment, trade and industry minister Tengku Zafrul Aziz said the Malaysian semiconductor sector currently contributed 10% to the global semiconductor market. January 9, 2024 – The government has decided to establish a national semiconductor strategic task force as a platform to grow the semiconductor ecosystem and draw in strategic investments, says investment, trade and industry […]