SPEECH BY YAB TUAN CHOW KON YEOW

THE CHIEF MINISTER OF PENANG

INDIUM’S GRAND OPENING OF

MANUFACTURING FACILITY IN PENANG

22 OCTOBER 2022

INDIUM, BATU KAWAN INDUSTRIAL PARK, PENANG

YB. Dato’ Haji Abdul Halim bin Haji Hussain

Penang State EXCO for Trade and Industry and Entrepreneurial Development

YBhg. Datuk Wira Arham bin Abdul Rahman

Chief Executive Officer of Malaysian Investment Development Authority (MIDA)

YBhg. Dato’ Loo Lee Lian

Chief Executive Officer of Invest Penang

Mr. Ross Berntson

President and Chief Operating Officer (COO) of Indium Corporation

Mr. Pang Weng Fai

Managing Director of Indium Asia Pacific Operations

Mr. Mike McNamara

General Manager of ESM Operations

Mr. Tang Weng Lye

Organizing Chairman

Distinguished guests,

Members of the press,

Ladies and gentlemen,

Good morning.

I am pleased to be here this morning for the grand opening of Indium’s manufacturing facility in Batu Kawan Industrial Park, Penang. Penang is excited and proud to welcome Indium’s presence here. My heartiest congratulations to the whole Indium team and all those involved for their dedication and hard work in achieving this milestone.

US-based Indium is a is a premier materials refiner, smelter, manufacturer, and supplier to the global electronics, semiconductor, thin-film, and thermal management markets. Founded in 1934, the company has global technical support and factories located in China, Germany, India, Singapore, South Korea, the United Kingdom, the United States as well as Malaysia.

The company is strategically located in Batu Kawan Industrial Park, Penang, with the investment value of RM250 million. This new facility spans 37,500 square feet of building space and is designated to manufacture products such as solder pastes, thermal interface materials and material solutions for die-attach and power semiconductor applications.

In addition to the new manufacturing facility, Penang also houses the company’s Malaysia Tech Hub, which was established in 2014. Being a regional centre, Malaysia Tech Hub provides a convenient base for the Southeast Asian customers to access the development of electronics assembly expertise and customer service, as well as a logistics and manufacturing support services.

Penang is pleased to be the choice location for Indium’s new manufacturing facility. The company’s investment decision serves as an acknowledgement of the skilled talent, well-developed infrastructure and resilient environment that the state holds.

Being widely regarded as one of the major players in the global semiconductor industry, Penang’s robust electrical and electronics (E&E) ecosystem is believed to have paved the way for sustainable industry development, offering a competent platform for the players along the supply chain to participate and thrive.

Ladies & gentlemen,

Penang is the economic powerhouse of the country. The state’s commendable performance in investment inflows and external trade have greatly attested our resilient industrial ecosystem, that has always been the key factor that attracts investors’ interests.

In terms of investment performance, the state has garnered a record high of RM76.2 billion in total approved manufacturing investments in 2021, outperforming its previous records significantly. Foreign direct investments (FDI) in particular, accounted for 98% of the total investment inflows, making Penang the top manufacturing FDI recipient in Malaysia. Penang also remains one of the top contributors for the nation from January to June 2022, with RM7.9 billion of approved manufacturing investments.

 

On the trade front, Penang topped the nation’s list in 2021 with an all-time high export value of RM354 billion. Among which, E&E products and medical devices made up about 80% of the state’s total exports. In January to August 2022, Penang’s export value climbed 30% year-on-year to RM291 billion, representing 29% of the country’s total. The state also recorded trade surplus of RM75 billion for the said period, representing 48% of the country’s total.

Ladies & gentlemen,

Penang has been successful in its transformation journey, which began in 1972. The five decades of industrial excellence have laid the groundwork for Penang to unlock its limitless potential. And, holding on the tagline for Penang’s 50^th anniversary of industrialisation, “50 Years of Excellence and Beyond”, I am looking forward to witnessing our next leap.

 

Be assured that the state, via InvestPenang and other relevant state machinery, is committed in providing unwavering support to the investors, while we pledge to sustain a dynamic ecosystem equipped with the capacities and capabilities to support the needs of industrial players’ next generation technologies and growth strategies.

With that, I look forward to a long-lasting business relationship with Indium, and once again, offer my sincere congratulations on their new facility.

Wishing you a great success. Thank you.