Texchem’s 50th Anniversary Celebration
SPEECH BY THE CHIEF MINISTER OF PENANG YAB TUAN CHOW KON YEOW
Texchem’s 50th Anniversary Celebration
23 January 2024
Grand Ballroom, E&O Hotel Penang
Good evening to all of you.
It is indeed a pleasure for me to be here with all of you today to commemorate the 50th Anniversary of Texchem Group.
To begin, I would like to extend my warmest congratulations to Texchem for reaching this remarkable milestone. Since your establishment in 1973, Texchem has achieved significant international milestones under the founder, Tan Sri Dato’ Seri (Dr.) Fumihiko Konishi’s leadership. Started off as a textile chemical trader, Texchem has grown into a Malaysian multinational conglomerate with over 37 companies, spanning across 5 core business divisions – industrial, polymer engineering, food, restaurant and venture business.
Besides that, I am also deeply aware that Tan Sri Konishi’s efforts not only revolve around Texchem’s business, but also having a deep commitment to the community, including fostering ties between Penang and Japan by establishing the Penang Japanese Association.
Hence, I would like to extend my sincere appreciation to Tan Sri Konishi, for your unwavering commitment towards maintaining the relationship between Penang and Japan for the betterment of the State.
I would also like to take this opportunity to congratulate Texchem for your outstanding achievements over the past five decades. In 2016, Texchem received the Silver Award for Employer of Choice, thus highlighting Texchem’s commitment to a positive work environment, the Brand Awards for strategic positioning, and the recent Edge Centurion Award for exceptional performance, leadership and contributions to business landscape.
Ladies & Gentlemen,
Underpinned by over 50 years of industrial excellence, Penang continues to attract strategic investment into the State. In MIDA’s latest figures for the first nine months of 2023, Penang recorded RM38.9 billion approved manufacturing investment, representing 39 percent of the said total nationwide.
Notably, with foreign direct investments (FDIs) amounted to RM35.8 billion, up 634 percent year-on-year, Penang is the highest manufacturing FDI contributor to Malaysia, constituted 42 percent of the nation’s manufacturing FDI for the said period. All in all, Penang is placed as the top manufacturing contributor for the nation.
In addition, Penang also remains as the key pillar for Malaysia’s economy. In 2021, Penang topped the nation's list with an export value of RM356 billion recorded, and the external trade momentum in Penang has persisted into 2022 with a 30 percent year-on-year spike on the export value, reaching an all-time high of RM463 billion, which represents 30 percent of the country's total.
This success is a testament to Penang’s industrialisation journey, which marked its 50th anniversary last year, and the State Government is glad that Texchem has been by our side over the past 50 years of this journey.
We certainly look forward to Texchem continuing to drive the economic development of the state of Penang through its expansions, job opportunities and expertise.
Ladies and gentlemen,
In parallel to the rapid growth of Penang’s industrial ecosystem, a healthy talent pipeline is equally crucial to meet the heightened industrial demand. The Penang State Government, via InvestPenang and other relevant state agencies, has implemented multi-pronged approaches and initiatives to deepen and widen the talent pool in Penang.
I understand that Tan Sri Konishi also contributes to education through various initiatives such as the Texchem Scholarship Fund. Notably, Tan Sri Konishi also co-founded the Penang-Japan institutions including the Penang Japanese School. I hope that the synergy between Texchem and Penang will continue to flourish for the benefit of the economy and the community.
I am confident that such efforts and the good work done by Texchem will undoubtedly help to boost the country’s economy while bringing Penang to greater heights. I sincerely hope that you will keep up the good work and continue to serve as an inspiration for other industry players to follow suit.
Once again, my heartiest congratulations to Texchem for this remarkable milestone. May Texchem continue to strive in excellence with even greater success. I look forward to the continued partnership with Texchem, while the State advances towards becoming an inspiration for the nation. Hence, befitting Texchem’s tagline, “Together We Shine”.
My best wishes to all.