Penang Chief Minister Chow Kon Yeow expressed his hopes for the Penang Development Corporation (PDC) to continue collaborating with state and federal government agencies to create an environment conducive to the industrial ecosystem. He aims to ensure the development of more industrial parks equipped with high-quality infrastructure, positioning Penang at the forefront of investment value and maintaining its status as a key driver of national economic growth.

Speaking at the Hari Raya Aidilfitri open house event organized by the Penang Development Corporation on Thursday, Chow emphasized the pivotal role of PDC as the primary development agency of the state, particularly in providing ample industrial land.

Under the recently launched ‘2024-2028 Strategic Blueprint’, a major focus is the anticipated RM3 billion investment to acquire 3,000 acres of land in Seberang Perai for the development of new industrial parks to meet the growing industrial demands.

Chow highlighted PDC’s commitment to enhancing the quality of its existing industrial parks, particularly the Batu Kawan Industrial Park Phase 3 (BKIP 3) and the Batu Kawan Technology Park (BCTP), adopting the concept of ‘Infrastructure Ready’.

In pursuit of this goal, PDC has closely collaborated with Tenaga Nasional Berhad (TNB) to realize this new concept of infrastructure readiness.

During the event, the Chief Minister also officiated the launch ceremony for the second phase of the Taman Cassia Cempaka project, featuring double-storey semi-detached homes.

According to PDC Properties Sdn Bhd, the project includes the construction of one double-storey detached home priced at RM1,786,076 and 26 semi-detached units ranging from RM941,043 to RM1,189,346.

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Source: Buletin Mutiara

Printed circuit boards (PCBs), radio frequency (RF) components and RF microwave/microelectronic assemblies manufacturer TTM Technologies Inc has opened its first large-scale plant in Southeast Asia in the Penang Science Park here.

The state-of-the-art facility, built on 10.9 hectares of land in Simpang Ampat, currently employs more than 75 engineering and technical graduates from Malaysian universities.

The Nasdaq-listed company’s expansion in Penang is aimed at serving its global commercial markets, especially in networking, data centre computing, medical, instrumentation and industrial.

“As part of our expansion strategy, we are creating about 1,000 job opportunities for the local community while equipping these employees with the latest knowledge in cutting-edge PCB technology solutions,” said TTM Technologies Inc president and chief executive officer Thomas Edman.

He said the firm is ramping up production, and the Malaysian facility expected to generate a full run rate revenue of about RM855 million by 2025.

“We still have room in this facility to complete phase one and room for phase two to add 25 per cent capacity to the facility,” he said in a press conference after the official opening ceremony of the plant.

He said TTM Technologies will be pursuing phase two at the end of this year, driven mainly by customer interests and demands.

“We are confident that our strategic expansion plan will allow us to bolster our presence, capitalise on new customer opportunities, expand our footprint and drive our market growth while tapping into the region’s thriving economy and vibrant ecosystem,” he said.

Earlier, Penang Chief Minister Chow Kon Yeow said TTM Technologies’ decision to set up its plant here signifies the confidence that foreign investors have placed in the state.

He said Penang is now positioned as an advanced manufacturing hub and now houses more than 350 multinational companies (MNC) and 4,000 small-medium enterprises (SME).

He said American investments had a significant presence in the state with a total RM6.7 billion in investments in 2023.

“This signifies that US companies are important industrial investors to Penang,” he said.

He said TTM’s presence in Penang will create new and exciting opportunity for local suppliers and further develop a robust and efficient supply chain ecosystem.

Source: MalayMail.com

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