GROUNDBREAKING CEREMONY FOR ICONIC MEDICARE’S PPE MANUFACTURING FACILITY

 

SPEECH BY CHIEF MINISTER OF PENANG

GROUNDBREAKING CEREMONY FOR ICONIC MEDICARE’S

PPE MANUFACTURING FACILITY

12 DECEMBER 2020

ICONIC MEDICARE SDN BHD, BATU KAWAN, PENANG

 

 

YB. Tuan Phee Boon Poh
Penang State Exco Member, Welfare, Caring
Society and Environment Committee Chairman

YB. Puan Kasthuriraani A/P Patto
Member of Parliament Batu Kawan

YB. Tuan Goh Choon Aik
Assemblyman of Bukit Tambun

YB. Jason H’ng Mooi Lye

Assemblyman for Jawi

YBhg. Dato’ Sr. Hj. Rozali bin Hj Mohamud

Mayor of Seberang Perai City Council

YBhg. Dato’ Seri Lee Kah Choon
Special Investment Advisor to Chief Minister of Penang

Ybhg. Dato’ Loo Lee Lian
CEO of InvestPenang

Ybhg. Dato’ Mohd Bazid Hj Abd Kahar
CEO of Penang Development Corporation

Tuan Lee Chong Chern

OCPD of Seberang Perai Selatan

Ybhg. Dato’ Tan Kean Tet
Managing Director of Iconic Worldwide Berhad

Distinguished Guests,

Esteemed partners and members of the media,

Ladies & Gentlemen,

A very good morning.

It is an honour to be here at the ground-breaking ceremony of Iconic Medicare’s new factory, which focuses on the manufacturing of Personal Protective Equipment (PPE), gloves and face masks. I am pleased to witness Iconic Worldwide’s venture into a new industry, and I wish to congratulate the Company and all those involved in making this great plan a reality today.

Iconic Worldwide Berhad is renowned for its achievements in the field of property development, hotel management and hospitality industry. However, being versatile and riding on current market needs, Iconic is astute to diversify and venture its business portfolios into manufacturing of PPE.

It is undeniable that the PPE market is gaining momentum as a result of the pandemic outbreak. The demand for gloves and face masks may persist over the long term as Covid-19 has spawned public awareness on personal-hygiene protection.

In fact, according to a report by Fortune Business Insights, the global PPE market size is projected to reach US$93 billion by 2027, exhibiting a Compound Annual Growth Rate (CAGR) of 7.4% during the forecast period from 2020 to 2027.

I am pleased that Iconic Medicare will be spending a total of RM155 million for this PPE manufacturing facility at Batu Kawan and is expected to commence operations by the end of 2021. With a total of 22 production lines, this upcoming facility will be equipped with an annual capacity of 3.3 billion pieces of gloves and 220 million pieces of medical face masks.

On top of that, I was told that Iconic Worldwide has plans to expand beyond that. With all facilities operating based upon world-class standards, alongside safety and hygienic compliances, I am hopeful that Iconic Medicare will become a leading PPE manufacturer and eventually, an established exporter of high-quality gloves and medical grade masks, emblazoned with a proud ‘Made in Malaysia’ logo.

Ladies & Gentlemen,

Against the backdrop of having numerous restrictions in place due to the pandemic, Penang still managed to garner RM10.6 billion of approved manufacturing investment in January to September 2020, which is expected to generate 9,137 new employment opportunities in the State.

Encouragingly, the Domestic Direct Investment (DDI) in Penang spiked 42% year-on-year and reached RM1.8 billion during the period, with Iconic Medicare being one of the eminent projects. In addition, Penang is the second highest (Foreign Direct Investment) FDI contributor to Malaysia, with RM8.8 billion of approved manufacturing FDI recorded in January to September 2020.

I am truly delighted with such achievements, which are in line with the Penang2030 vision. This is a testament to our robust industrial ecosystem that offers a competent platform for both local and foreign players to participate and thrive.

I am pleased to see that local companies are continuing to innovate and remain relevant in the currently challenging market landscape. Iconic Worldwide is a good example of how a local company can quickly adapt to changing circumstances, venturing into new opportunities to mitigate the setback on hospitality and tourism-related businesses.

I wish to reassure that the Penang State Government is staying vigilant in containing the spread of Covid-19. Concerted efforts are in place to ensure the State’s commitment in addressing the industry needs while safeguarding the well-being of the people.

The State Government, through InvestPenang, is committed to continuously facilitate and provide our utmost support for the on-the-ground implementation of Iconic Medicare in Penang. I look forward to seeing your new facility come to fruition and once again, my heartiest congratulation and best wishes to you.

Thank you.