SPEECH BY YAB TUAN CHOW KON YEOW

THE CHIEF MINISTER OF PENANG

LUMILEDS PENANG GREEN ELECTRICITY TARIFF (GET)

AWARD CEREMONY

14 April 2022

Plant 2 Lumileds, Penang

YB Dato’ Haji Abdul Halim bin Haji Hussain

State Exco for Trade, Industry & Entrepreneur Development

YBhg Dato’ Loo Lee Lian

CEO of InvestPenang

Mr. Matt Roney

CEO of Lumileds

YBhg Datuk Ir. Megat Jalaluddin Megat Hassan

Chief Retail Officer of Tenaga Nasional Berhad (TNB)

Distinguished guests

Members of the press

Ladies & gentlemen

Good afternoon.

I am pleased to be here for the TNB Green Electricity Tariff (GET) Award Ceremony, recognizing Lumileds’ effort in fully powering both its manufacturing plants in Penang with renewable energy.

I understand that this effort is made possible by Lumileds’ subscription of 5.4 million kilowatt hour per month of Green Electricity Tariff offered by TNB. As a result, the company is expected to reduce emissions by more than 40,000 tons of carbon dioxide equivalent every year. Congratulations on this commending step in Lumileds’ green agenda!

Sustainability has always been the State’s utmost priority and we are making palpable inroads along the journey. Lumileds’ subscription to this program has certainly demonstrated its commitments towards the green economy.

Green economy is pivotal for Penang to elevate its resilience against future uncertainties. There are several pathways toward a green economy, which often buoyed by renewable energy and energy efficiency. On this note, Lumileds is a company that acts on both pathways, making energy-efficient LED lighting and turning to renewable energy in their operations.

In the face of climate change, the adoption of renewable energy is a critical component in reducing greenhouse gas emissions and the race towards zero-emission. Lumileds’ complete adoption of renewable energy in both its manufacturing plants not only exemplifies its outstanding corporate citizenship in leading the way on sustainable practices, but also concurs with the State’s aim in building a resilient and sustainable ecosystem.

Ladies & gentlemen,

Penang has undergone five decades of manufacturing excellence and is positioned as an advanced manufacturing hub, buoyed by its significant contribution in the industry.

In 2021, the State recorded its all-time high of RM76.2 billion in total approved manufacturing investments, a record which significantly outpaced Penang’s past performances. In particular, 98% of the total investment inflows were contributed by foreign direct investments (FDI), firmly placing Penang as Malaysia’s top FDI recipient, accounting for 41% of the country’s total FDI.

Penang’s stellar performance is also well-attested in its external trade, reaching RM354 billion exports in 2021, a record-breaking figure and represented 29% of the country’s total.

Being one of the country’s key focal points for investment inflows and external trade, Penang is cognizant on the importance of Environmental, Social & Governance (ESG) and remains staunchly committed in pursuing sustainable development.

Building on the Penang2030 vision to realise ‘A Family-Focused Green and Smart State that Inspires the Nation’, ecologically-sensitive design and operation are among the imperatives for us to forge ahead. My heartiest congratulation once again to the Lumileds team and we look forward for an increase in ESG uptakes among the industry players in Penang.

Thank you.