Business

Taiwan-based Elite Material invests RM900 mil in Penang manufacturing facility

The facility is expected to generate monthly revenue of RM150 million at a maximum production of 750,000 copper-clad laminate sheets. Mass production will begin in the second quarter of 2025. June 21, 2024 GEORGE TOWN (June 20): Taiwan-based copper-clad laminate manufacturer Elite Material Co Ltd (EMC) is investing RM900 million to set up Penang Science Park North facility. EMC chairman and...

Google commits RM9.4bil for Google data centre and cloud region in Malaysia

Thursday, 30 May 2024 KUALA LUMPUR: Google will invest RM9.4bil (US$2bil) to house its first Google data centre and Google Cloud region in Malaysia, which is expected to support 26,500 jobs across various sectors and have an economic impact of about RM15.04bil, said the Ministry of Investment, Trade and Industry (Miti). The project, the technology giant's largest planned investment in Malaysia, will...

Penang Street Food Fest in Bangkok a huge hit with food lovers

04 May 2024 BANGKOK (Bernama): The one-day Penang Street Food Festival 2024 held in Bangkok here on Saturday serves as a platform for Malaysian entrepreneurs in Thailand to expand their business. Malaysian ambassador to Thailand, Datuk Jojie Samuel, said there are many Malaysian entrepreneurs in Thailand, especially in the food and beverage industry, who operate small restaurants. "Besides...

Penang strengthens its IC design and advanced packaging ecosystem with arrival of new semiconductor players

April 27, 2024 AN investment of more than US$100 million is expected to be made in Penang by three prominent international semiconductor companies. The three companies – China Wafer Level CSP Co Ltd (WLCSP), Ningbo SJ Electronics Co Ltd (SJE) and Wuxi AMTE Inc (AMTE) are set to strengthen the integrated circuit (IC) design and advanced packaging sectors. WLCSP revolutionises the semiconductor...

Penang the surprise winner of US-China chip war – FT report

Malaysia is the surprise winner of the US-China chip war, with Penang being the largest benefactor, the Financial Times reports.By Business Times - March 14, 2024KUALA LUMPUR: Malaysia is the surprise winner of the US-China chip war, with Penang being the largest benefactor, the Financial Times reports. The state attracted RM60.1 billion (US$12.8 billion) in foreign direct investment...

Dutch company opens its second plant in Penang

March 5, 2024 ACTIFORCE, a renowned global leader in the furniture components industry hailing from the Netherlands, has marked a significant achievement by officially inaugurating its state-of-the-art plant in Penang. The new facility, located at the Bukit Minyak industrial area, spans approximately 13,300sq ft. This marks Actiforce’s second plant in Penang, complementing the first, which has...

Penang the breeding ground of successful startups, large local companies – MP

Saturday, February 17th, 2024 at Economy | News GEORGE TOWN – Penang, being the Silicon Valley of the East, is the breeding ground for successful stories of startups and large local companies (LLCs) that are at par with technology giants of the world. One great example is homegrown industrial automation solutions provider Greatech Technology Bhd that was set up by Tan Eng Kee and...

Penang remains Malaysia’s top exporter in Dec 2023

Monday, February 12th, 2024 at Economy GEORGE TOWN – Penang has successfully maintained its position as Malaysia’s top exporter in December 2023 despite being the second smallest state. Chief Minister Chow Kon Yeow said that Penang has consistently been in the top three positions in terms of contributing to the country’s economy, growth, and attracting investors. “In fact, the figures were...

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