THE INAUGURATION OF COMET MANUFACTURING FACILITY IN PENANG

SPEECH BY THE CHIEF MINISTER OF PENANG

YAB TUAN CHOW KON YEOW

FOR THE INAUGURATION OF COMET MANUFACTURING FACILITY IN PENANG

22 September 2022 | Comet, BKIP, Penang

YB Dato’ Ir. Haji Ahmad Zakiyuddin bin Abd Rahman

Deputy Chief Minister I of Penang

YB Professor Dr. Ramasamy a/l Palanisamy

Deputy Chief Minister II of Penang

YB Puan Kasthuriraani a/p Patto
Member of Parliament of Batu Kawan

YB Goh Choon Aik
ADUN Bukit Tambun

Yang Berbahagia Dato’ Azhar bin Arshad

Mayor of MBSP

Yang Berbahagia Dato’ Loo Lee Lian

CEO of InvestPenang

Mr. Ralph Stamm

Deputy Ambassador of Switzerland Embassy

Ms. Lim Bee Vian

Deputy CEO of MIDA

Mr. Heinz Kundert

Chairman of Comet Group

Mr. Stephan Haferl

Chief Executive Officer of Comet Group

Mr. Michael Kammerer

President of PCT Division

Distinguished guests

 

Members of the press

 

Ladies and gentlemen

 

Good morning, to all of you.

 

I am very pleased to be here this morning for the inauguration of Comet’s manufacturing facility in Batu Kawan Industrial Park, Penang. Comet is a globally leading, innovative technology group that enables customers with their RF power plasma control and x-ray technology to make a growing contribution to a safer, more efficient and sustainable world of manufacturing, communication and mobility.

Penang is excited and proud to welcome your presence here. My sincerest congratulations to the whole Comet team and all of you who were involved for your dedication and hard work in achieving this milestone.

Comet is a system critical partner for the semiconductor and electronics, automotive, aerospace and security industry. With more than 1,500 employees worldwide and with 14 locations in Asia, North America and Europe, Comet is a trusted and reliable supplier to the global top-notch players in these sectors.

Comet is delivering the building blocks for the manufacture and inspection of the micro-chips that we find in all electronic devices. Given the proliferation of digitalization that drives the heightened demand in both industry and society alike, I am confident that Comet is poised to unleash your potential in this fast-growing digital world.

Like many other industry leaders, Comet is decided to establish manufacturing facilities in Asia to meet the rapidly growing demand, with Penang being the preferred location. This will be the first Comet manufacturing facility in Southeast Asia, focusing on the assembly of so-called matching networks, a key product for the semiconductor industry.

Penang is pleased to be the location of choice for Comet, which is an acknowledgement of the skilled talent, well-developed infrastructure and resilient environment the state holds.

With this investment by Comet, we are expecting the creation of hundreds of high value jobs in the coming years, thus further enriching the local community in terms of the skills and opportunities in manufacturing, engineering and supply chain.

Ladies & gentlemen,

Over the years, Penang has evolved into a driving force in Malaysia’s economy and is a significant source of manufacturing investment and trade in the country.

I am happy to note that in the first half of this year (January – June), Penang is among the top contributors for the country, clocking in RM7.9 billion of approved manufacturing investments. This is following a record high of RM76.2 billion in total approved manufacturing investments in 2021, a record which significantly exceeds our past performances.

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. From January to July 2022, Penang’s export value climbed 27% year-on-year to RM251 billion, representing 29% of the country’s total.

Given our robust industrial ecosystem and proven track records, I am confident that the state will continue to inspire confidence in investors and advance the growth of our economy.

Celebrating the 50th anniversary of Penang’s industrialization this year, the State Government, via InvestPenang and other relevant state agencies, is committed in providing unwavering support to our investors, while pledging to hold sustainability as one of our key priorities to unleash greater potential for the next 50 years and beyond.

On this note, I am pleased to share that Comet has already been demonstrating its commitment and love for the local Penang community.

Notably, the company has demonstrated exemplary conduct in sustainable operations with activities held for a cleaner environment via plogging and contributing towards the welfare of orphanages. Such programmes are very much in line with the LovePenang initiative launched by the State Government in June this year.

I look forward to a long-lasting business relationship with Comet. Once again, my heartfelt congratulations to Comet on your new facility. And I wish you great success in Penang!

Thank you.