OFFICIAL OPENING OF NI MALAYSIA SDN BHD’S NEW SUPPLY CHAIN DISTRIBUTION HUB
SPEECH BY YAB TUAN CHOW KON YEOW
THE CHIEF MINISTER OF PENANG
OFFICIAL OPENING OF NI MALAYSIA SDN BHD’S NEW SUPPLY CHAIN DISTRIBUTION HUB
1 November 2022 | NI Malaysia Sdn Bhd, Penang
Yang Berbahagia Dato' Ar. Yew Tung Seang
Mayor of Penang Island City Council (MBPP)
Yang Berbahagia Datuk Wira Arham bin Abdul Rahman
Chief Executive Officer of Malaysian Investment Development Authority (MIDA)
Yang Berbahagia Dato' Seri Lee Kah Choon
Special Investment Advisor to the Chief Minister of Penang
YBhg. Dato’ Loo Lee Lian
Chief Executive Officer of Invest Penang
Yang Berusaha En. Muhammad Ghaddaffi bin Sardar Mohamed
Director of MIDA Penang
Yang Berusaha Tuan Hj Ismail Latiffi
General Manager of TNB Penang
Yang Berusaha Mr. Selvam Chinappan
Managing Director of NI Malaysia
Distinguished guests,
Members of the press,
Ladies and gentlemen,
A very good morning to all of you.
To begin, I would like to thank NI Malaysia Sdn Bhd for inviting me to this momentous occasion. I still recall being here in November 2019 for the announcement of NI’s expansion plans and groundbreaking ceremony. Then, in November 2021, for the commencement ceremony for its construction.
Today, I am glad to see the physical structure completed, and to be standing right on it. My heartiest congratulation to NI’s team and all involved for the hard work and dedication in bringing this to fruition.
NI has certainly come a long way from its humble beginnings in 2009 and grown from strength to strength here in Penang. NI Penang is the company’s third largest operational site and housing one of the largest R&D centres outside of its headquarters in Austin, Texas.
It is reassuring to know that, despite the unprecedented challenges posed by the Covid-19 pandemic over the past two years, NI's expansion plans in Penang have not been impeded. With the completion of this new building as NI’s global supply chain distribution hub, it is expected to create 250 new jobs across research and development, manufacturing and sales capabilities.
Penang is pleased to see an emergence of players along the semiconductor supply chain that have deepened their roots in the state. The increased robustness of Penang's well-developed industrial ecosystem has enabled industry players to use it as a springboard to thrive. And, the expansion plan of NI is a strong testament to Penang's viability as a sustainable location for high quality investments.
Ladies & Gentlemen,
Penang is the most important manufacturing base for electrical and electronic (E&E) products within Malaysia, and is among the most vibrant hubs globally, accounting for more than 5% of global semiconductor sales.
In 2021, the State demonstrated its stellar performance by securing an all-time high of RM76.2 billion in total approved manufacturing investments. Foreign direct investments (FDI) accounted for 98% of total investment inflows, making Penang the top manufacturing FDI recipient in Malaysia. Penang is also among the top contributors to the country from January to June 2022, with RM7.9 billion in 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. And, it has lately led the nation's list once again with a total of RM14.4 billion or 33.2% of the nation’s total exports in September 2022.
Ladies & gentlemen,
Penang has been successful in its transformation journey for the past decades. Celebrating the 50th anniversary of Penang's industrialization this year, I am particularly proud to witness the inflow of strategic investments from existing investors, like NI, who have been here with us for the past decade.
Taking this opportunity, I would also like to thank the Malaysian Investment Development Authority (MIDA), InvestPenang and Penang Development Corporation (PDC) for their synergistic efforts in engaging investors and facilitating project implementations.
We have been fortunate to have the advantage of being an industrialised state for the past 50 years, and I hope that by working together, we can continue to elevate Penang as a preferred state for high-value investments and future-proof talents.
I am confident that with such efforts, coupled with our ever-improving business ecosystem and infrastructure, Penang will be able to continuously cater to the needs of all investors, including the growth of NI in Penang and Malaysia.
Having said that, I hereby with great pleasure, officiate the official opening of NI’s new supply chain distribution hub. Once again, my heartiest congratulation to NI for this expansion in Penang.
Thank you.