January 9, 2023 – AEM, a global leader in test innovation, celebrates the grand opening of its new manufacturing plant in Penang. The new plant comprises a 365,000-square-foot area for assembly, quality assurance (QA), a warehouse, an R&D lab, and more, to develop advanced testing and handling equipment.
This expansion comes on the heels of AEM’s highest recorded nine-month revenue level in history for 9M2022 at SGD$747 million. The new plant will also allow AEM to tap into the region’s growth opportunities and talents and bring its operations closer to existing and new customers.
The plant was officiated by the Chief Minister of Penang, Right Honorable Mr. Chow Kon Yeow, the Deputy CEO Investment Development of MIDA, Ms. Lim Bee Vian, AEM’s Chief Executive Officer (CEO), Chandran Nair, and AEM’s Non-Executive Chairman, Loke Wai San. Guests included Penang State Exco for Trade, Industry & Entrepreneur Development, Yang Berhormat Dato Haji Abdul Halim Bin Haji Hussain, the Special Investment Advisor to the Chief Minister of Penang, Dato’ Seri Lee Kah Choon, the CEO of InvestPenang, Dato’ Loo Lee Lian, the Deputy High Commissioner to Malaysia, Mr. Shivakumar Nair, together with other dignitaries. This momentous ceremony also included an exclusive tour of the plant. Almost 400 employees of AEM joined the celebration with the company’s leadership team.
“AEM’s new manufacturing plant in Penang lends credence to our conduciveness as a global semiconductor hub. With half a century of industrialization in its DNA, Penang has navigated numerous up and down cycles, and has emerged stronger from each. Experiencing an upward trend in its exports, Penang contributed an average 29 per cent of Malaysia’s export, and 58 per cent of the nation’s trade surplus over the past five years. In terms of investments, Penang is among the top contributors to the country, garnering RM9.2 billion in approved manufacturing investments from January to September 2022. Particularly, investments from machinery and equipment industry amounted to a total of RM7.3 billion from 2020 to September 2022, represented 57 per cent of the country’s total,” said Right Honorable Mr. Chow Kon Yeow, Chief Minister of Penang, while congratulating AEM for bringing the expansion plan to fruition.
“Riding on the prolific growth of advanced technologies, I am confident that Penang will be benefitting from the semiconductor industry’s long-term outlook. The state, via InvestPenang, is looking forward to working with AEM in accelerating the region’s vibrant electrical and electronics (E&E) ecosystem development, anchoring our status as the Silicon Valley of the East,” added the Chief Minister.
Ms. Lim Bee Vian, Deputy CEO, Investment Development of MIDA said, “AEM’s footprint in Malaysia will be a strategic advantage to Malaysia’s E&E industry, as the company can offer customized testing solutions for the electronics and semiconductor industries.”
“I am certain that this project demonstrates not only AEM’s confidence in Malaysia’s long-term investment propositions but also the thriving state of the manufacturing industry and its ecosystem in Malaysia. The project is a parallel testament of the global investors’ confidence in Malaysia as the preferred investment destination and the local companies’ capability and readiness to support high-profile business ventures and activities,” she added.
Malaysia is an important market as it is strategically positioned in the heart of Southeast Asia. The E&E industry contributes significantly to Malaysia’s GDP growth, export earnings, investment and employment and plays a vital role in the country’s industrial development. From January to September 2022, Malaysia attracted a total of RM22.6 billion in approved investments for the E&E industry.
As a hub in the semiconductor global supply chain, Penang accounts for 80 per cent of the nation’s contribution to global backend semiconductor output, and over 5 per cent of the world’s semiconductor sales over the last few years.
MIDA is the government’s principal investment promotion and development agency under the Ministry of International 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 Twitter, Instagram, Facebook, LinkedIn, TikTok and YouTube channel.
AEM is a global leader in test innovation. We provide the most comprehensive semiconductor and electronics test solutions based on the best-in-class technologies, processes, and customer support. AEM has a global presence across Asia, Europe, and the United States. With manufacturing plants located in Singapore, Malaysia (Penang), Indonesia (Batam), Vietnam (Ho Chi Minh City), China (Suzhou), and Finland (Lieto), and a global network of engineering support, sales offices, associates, and distributors, we offer our customers a robust and resilient ecosystem of test innovation and support. AEM Holdings Ltd. is listed on the main board of the Singapore Exchange (Reuters: AEM. SI; Bloomberg: AEM: SP). AEM’s head office is in Singapore.
InvestPenang is the Penang State Government’s principal agency for 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 i4.0 seed fund (a catalyst for the startup ecosystem). For more information, please visit https://investpenang.gov.my/ and follow InvestPenang’s social media channels: Facebook; LinkedIn.
For more information, please contact:
Ms. Zakiah Sajidan
Director, Machinery and Metal Technology Division, MIDA
E: email@example.com I T: +603-2267 3628
On behalf of AEM
Ms. Deanna Nabilah
E: firstname.lastname@example.org I T: +65 8161 6864
Ms. Yeoh Bit Kun
Head of Communication & Business Intelligence
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