3REN Firms Up Partnership With InvestPenang On Penang Silicon Design @5km+ Initiative
GEORGE TOWN, July 18 (Bernama) -- 3REN Bhd's subsidiary, Sophic Automation Sdn Bhd, has signed an agreement with Invest-In-Penang Bhd (InvestPenang) to accept an incentive package aimed at enhancing its integrated circuit (IC) design and development capabilities, as well as transforming its ideas into IC products.
The automation solutions and engineering services provider said in a statement today that the agreement further strengthens the partnership between the two parties, following the memorandum of understanding signed in December 2024 to collaborate on the Penang Silicon Design @5km+ (PSD@5km+) initiative.
'The incentive package granted to 3REN includes monetary subsidies, grants, or payments for facilities and services provided by stakeholders under the agreement for a period of three years until May 2028.
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'The group intends to strategically utilise these incentives to contribute to and foster further innovation within Malaysia's semiconductor and IC design and development ecosystem,' it said.
Executive director and chief executive officer Koh Dim Kuan said the initiative offers valuable opportunities to collaborate with local fabless IC design firms, electronic design automation tool providers, and academic institutions, while improving access to cutting-edge IC design and development technologies.
'Having worked alongside reputable counterparties and global players in the IC industry, we are exceptionally proud to solidify our partnership with InvestPenang through the PSD@5km+ initiative.
'This collaboration further reflects our strong commitment to nurturing future talent, as the group strategically advances up the semiconductor value chain, building on its solid foundation in automation solutions and engineering services,' he said.
On Dec 7 last year, Prime Minister Datuk Seri Anwar Ibrahim launched the PSD@5km+ initiative and announced an allocation of RM50 million to support it.
The initiative is spearheaded by the Penang government through its agency, InvestPenang, to revolutionise Malaysia's semiconductor industry in line with the National Semiconductor Strategy.
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