Kindly be informed that InvestPenang team continues to work from home and is reachable via emails. Please refer to our respective emails at https://investpenang.gov.my/about-invest-penang/.
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WHAT’S HAPPENING

View major news and upcoming events to explore Penang’s thriving key industries.

[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 […]

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 […]

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 […]

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 […]

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 […]

[Press Release] Jutze Interconnect Sdn Bhd Launches New Facility for Wire Harness and Cable Assembly

November 29, 2023 – Jutze Interconnect Sdn Bhd, a leading manufacturer of wire harness and cable assembly, has announced the launch of its maiden facility for wire harness and cable assembly in Bayan Lepas Industrial Zone, Penang, Malaysia.  Jutze Interconnect Sdn Bhd is equipped with the latest state-of-the-art facilities, advanced technology, and eco-friendly features designed […]