Taiwanese electronics firm makes PH its production hub, adds 6,000 jobs

Taiwanese electronics company, New Kinpo, is investing additional 1.4 billion to further expand its operation in the Philippines as it aims to transform the country as its main production hub of consumer electronics for the export market and generating as much as 6,000 job opportunities.

The company made this announcement at the inauguration of its newest plant in Batangas, which will start commercial operation in the second quarter this year producing calculators and electronic keyboard for a known Japanese brand.

“The company’s focus now is to make the Philippines a main production base of consumer electronics products,” said Kinpo Chief Executive Officer Simon Shen.

Last year, New Kinpo invested $31.5 million or 1.4 billion for this new factory in Batangas which will be operated by its subsidiary Kinpo Electronics Inc. They also announced that they intend to invest another US$31 million for the factory’s expansion this year. These projects are expected to employ 4,000 to 6,000 workers.

With these new investments, the company is expecting to contribute around 10 percent to 30 percent of the New Kinpo’s total revenue this year.

“We are continuously bringing to fruition government’s efforts to boost Philippine economic relations with Taiwan as we welcome more inbound trade missions from Taiwan and enable businesses like New Kinpo to flourish in the Philippines,” the Department of Trade and Industry said in a statement.

With the growth of companies like the Kinpo Electronics Group in the Philippines, DTI said the country is becoming a major part of Taiwanese supply chain in the region. Taiwan is currently one of the Philippine's top trading partners and investment sources.

Kinpo is registered with the Philippine Economic Zone Authority (PEZA). The Kinpo Electronics Group has been able to set up and operate factories in the Philippines.

The group’s previous investments in the Philippines include its subsidiaries such as AcBel Polytech Inc. for the manufacture of light-emitting diode (LED) lighting and smart grid solutions, and CalComp Electronics and Communications Co. for the production of handsets, printers, and Liquid- crystal- display televisions (LCD TV).