THE SIGNING CEREMONY OF STRATEGIC PARTNERSHIP BETWEEN ASPEN (GROUP) HOLDINGS LTD & LG ELECTRONICS INC.
SPEECH BY CHIEF MINISTER OF PENANG
FOR THE SIGNING CEREMONY OF STRATEGIC PARTNERSHIP BETWEEN
ASPEN (GROUP) HOLDINGS LTD & LG ELECTRONICS INC.
18 JANUARY 2018
Salam Sejahtera and a very good morning to all who are present.
I would like to welcome everyone attending today’s auspicious Signing Ceremony of Strategic Partnership between Aspen Group and LG Electronics Inc. from Seoul.
This strategic partnership with Aspen Group, is seen as a stepping stone for one of the world’s biggest electronic company to set foot in Penang. I welcome LG again to Penang, joining other international names such as Hitachi, Intel, Jabil, Broadcom and Western Digital.
The electronics and electrical sector in the manufacturing industry of Penang has been one of the main economic drivers for the state. Investments is expected to exceed RM10 billion for 2017, and Penang is the largest magnet for FDI in Malaysia.
Being one of the most innovative local enterprises who just celebrated their fifth anniversary a few days ago, Aspen Group has managed to seal deals with global industry leaders such as Ikea South East Asia, IBM, Schindler, TM and now LG Electronics.
The Statistics Department said E&E products, which comprised 38% of total exports, grew 21% in November 2017. E&E exports rose 20.5% year on year to RM314.27 billion in the first 11 months of 2017, making up 36.7% of total exports.
We are also proud that Penang hosts the No.1 & No.2 single largest exporter in Malaysia, with Western Digital contributing RM20 billion of exports annually in 2017 or 2.3% of Malaysia's total exports and Broadcom contributing RM70 billion by 2018. Broadcom alone will contribute 8% of Malaysia total annual exports. Penang’s export contribution to the total national export is 23.5% in 2017 and is expected to exceed 30% this year.
I was told that LG will be setting up a flagship store in Aspen Vision City, the first of its kind in Batu Kawan, Penang. This store will house their latest in technology and the best in the premium products.
I also welcome the move to set up a learning and training centre by LG that will be based in Penang. A critical component for the continued and sustained success of Penang is embracing Industry 4.0 including Big Data Analytics, Cloud Computing and Internet of Things (IOT). We also seek convergence in the public, manufacturing and services sector to enable us to partake in the 4th Industrial Revolution.
The 1st Industrial Revolution happened with the invention of steam engines, the 2nd Industrial Revolution with the discovery of electricity of mass production and specialization of work, the 3rd Industrial Revolution with the invention of computers and internet. Finally the 4th Industrial Revolution revolves around the Big Data Analytics (BDA), Artificial Intelligence, Robotics, Fintech, Machine Learning, Cloud Computing and Internet of Things (IoT).
There is a need to adapt to Industry 4.0 by mastering STEM subjects of Science Technology Engineering and Mathematics. The Penang State Government is investing RM 6 million over 3 years to bring free coding classes to 120,000 primary and secondary school students. Artificial Intelligence is an important component, especially machine learning in our data driven world. Machine learning is the branch of AI that is most relevant because computers sift through data to recognise patterns and make predictions without being explicitly programmed do so.
Penang has also launched the implementation of an innovative dengue dynamic surveillance system, relying on AI and machine learning to provide real-time prediction and data analytics on exact geo-locations and timing of the next dengue outbreak. Using AI predictive analytics, this CAT or Crush Aedes Totally initiative hopes to reduce the number of dengue deaths in Penang.
Lastly, I congratulate the Strategic Partnership by Aspen Group and LG Electronics Inc. and I look forward to the development progress by these entities.
Thank you.