3 semiconductor firms to invest in Penang
Chief Minister Chow Kon Yeow yesterday announced that three new semiconductor companies intend to make investments in the state.
They are China Wafer Level CSP Co, Ningbo SJ Electronics Co and Wuxi AMTE Inc.
Together, the three companies were expected to invest US$100 million, according to Blue Chip Venture Capital, which played a role in attracting these investments.
Chow said the three companies were set to bolster Penang’s growing integrated circuit (IC) design and advanced packaging ecosystem.
“Penang is indeed proud to be chosen as the location for these three semiconductor businesses, which also signifies the confidence that foreign investors have in the state.
“The landing of these three semiconductor companies is expected to create new and exciting opportunities for local suppliers.
“This move will develop a robust and efficient supply chain ecosystem,” he said.
Chow’s announcement came hot on the heels of his predecessor, Lim Guan Eng, asking him to explain how the state had lost a multi-million ringgit IC design project to Selangor.
Selangor had announced that the state would build an IC design park in Bandar Puteri, Puchong, in July.
Tech-related companies, such as ARM Limited and Phison Malaysia, had committed to set up operations in the park, the largest in Southeast Asia.
Lim said a post-mortem should be conducted to determine how Penang missed the opportunity when it was leading in the sector.
Chow said the companies brought in by Blue Chip Venture Capital also had IC capabilities.
“They can also do IC work. In Penang, there are, as I said in my earlier statement, many IC design companies with this capability.
“We may not have an IC park but we have a lot of IC-related companies and more will come.”
On if he was willing to meet Lim to provide an explanation, Chow said he welcomed it.
“Okay. We can meet. Don’t bother the press to report on our response. It is very puzzling for our investors.”
Meanwhile, on the three companies, Chow said they were starting the process to finalise investment plans.
He said the process would take a few months before the investments were realised.
“Right now, there are looking at suitable sites,” he added.
Blue Chip Capital Venture cofounder and chief executive officer Tim Chen said at least another 15 companies were looking at investing in the state.