Latest news with #3REN
The Sun
18-07-2025
- Automotive
- The Sun
3REN secures incentives from InvestPenang to boost IC capabilities
PETALING JAYA: 3REN Bhd, a provider of automation solutions and engineering services, announced that its wholly owned subsidiary, Sophic Automation Sdn Bhd, has signed an agreement with Invest-In-Penang Bhd (InvestPenang) to accept an incentive package aimed at strengthening its integrated circuit (IC) design and development capabilities. This agreement solidifies the partnership between the parties, following the signing of a memorandum of understanding in December 2024 to collectively collaborate on the Penang Silicon Design @5km+ (PSD@5km+) initiative. The incentive package awarded to 3REN includes monetary subsidies, grants and payments for facilities and services provided by participating stakeholders, effective until May 2028. The group plans to strategically leverage these incentives to make meaningful contributions to the growth of Malaysia's semiconductor and IC design and development ecosystem, while driving further innovation in the sector. 3REN executive director and CEO Koh Dim Kuan said having worked alongside reputable counterparties and global players in the IC industry, the company is exceptionally proud to solidify its partnership with InvestPenang through PSD@5km+. 'This initiative provides us with valuable opportunities to collaborate with local fabless IC design firms, EDA tool providers and academic institutions, and enhances our access to cutting-edge IC design and development technologies. 'It also connects us with like-minded, visionary organisations in a united effort to position Malaysia at the forefront of the global semiconductor landscape. '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.
The Star
18-07-2025
- Business
- The Star
3REN subsidiary to undertake Invest Penang incentives package
KUALA LUMPUR: 3REN Bhd's wholly-owned subsidiary Sophic Automation Sdn Bhd has inked a memorandum of understanding with regards to its acceptance of a financial incentives package from Invest-In-Penang Bhd for the development of integrated circuits designs into products. In a filing with Bursa Malaysia, the auomation solutions and engineering services group said the incentives period commenced on May 14, 2025, to be renewed on a year-to-year basis for a period of three years. Accordig to 3REN, it is expanding its capabilities in specialised IC design and development. "This includes IC development targeting hardware-level optimisation for Internet of Things (IoT) in industrial automation applications and silicon validation solutions to unlock greater value and long-term business returns," it said. With increasing geopolitical trade tensions and a global semiconductor supply chain shift to Southeast Asia, the incentives provided by Invest Penang will facilitate 3REN's enhancement of its IC design and development capabilities to strengthen the local ecosystem, competitive strength, supply chain resilience and technological independence. Additionally, the incentive package is expected to offer opportunities to collaborate with local fabless IC design firms, EDA tool providers and academic institutions, further enhancing its access to IC design and development technologies.
