2 days ago
TCL eyes Malaysia for new manufacturing base as South-East Asia sales soar
Li: The Malaysian market is among the most competitive and developed in Asean, and it has one of the highest purchasing powers.
KUALA LUMPUR: TCL, a leading global technology brand, is exploring the possibility of setting up a manufacturing base in Malaysia, as part of its strategy to deepen its presence in South-East Asia and localise its global operations.
Speaking during a visit to Malaysia, TCL founder and chairman Li Dongsheng said the company had dispatched project teams multiple times in the past six months to assess local opportunities.
'We are currently studying the possibility of setting up a manufacturing base in Malaysia,' Li told StarBiz in a language exclusive interview.
'The Malaysian market is among the most competitive and developed in Asean, and it has one of the highest purchasing powers. Products made here can serve not just local consumers, but also be re-exported to other global markets.'
TCL has already established more than 10 production bases worldwide over the past two decades, including in Vietnam, Indonesia and Mexico, as part of its broader strategy to internationalise operations.
Li said its first overseas foray within this region began in Vietnam in 1999.
Last year, TCL's revenue from South-East Asia surged by 30%. In the Malaysian market alone, the total revenue across all categories in 2024 saw a year-over-year increase of 467%.
After more than 40 years of transformation, TCL, through TCL Industries and TCL Technology, is now focusing on three core industries: consumer electronics, display technology, and clean energy.
From a global perspective, the group earned over RM82.3bil in overseas revenue last year, making up almost half its total revenue of about RM184.9bil.
'We have transformed our business model to move beyond just exporting products to building localised industrial chains and supply networks,' said Li.
'This creates employment, tax revenue, and stronger partnerships in host countries.'
In Malaysia, TCL already operates a research and development (R&D) centre focused on high-end products, which also serves its global customer base.
'This is also one of the reasons for my visit—to look into expanding our production and manufacturing footprint here,' he added.
Li said TCL is also leveraging its partnership with the International Olympic Committee (IOC) to boost its global brand image.
As an official worldwide Olympic and Paralympic partner representing the home audiovisual equipment and home appliances category, he said TCL will supply smart and green energy-saving products—including display panels, air conditioners and AR glasses—for use in Olympic venues. Through these intelligent products, the company aspires to present an extraordinary experience for both the athletes and global audiences, allowing billions of viewers worldwide to immerse themselves in the breathtaking audiovisual feast of the Olympic event.
'This collaboration is a major milestone,' said Li.
'It will allow us to expand the global visibility of our smart technologies and reinforce our brand through one of the most recognised platforms in the world. As a leading global technology brand with a sports gene and humanistic care, TCL consistently upholds the brand spirit of 'Inspire Greatness', which perfectly aligns with the Olympic ideal of pursuing excellence.'
Following on from the 'Inspire Greatness' activation, TCL also expanded its partnership with Arsenal in May this year, becoming the club's Official Global Consumer Electronics Partner.
Looking ahead, Li expressed confidence in TCL's ability to maintain strong momentum in Southeast Asia.
'Our growth in Malaysia will continue at a very high level. I hope we can launch our first manufacturing project in Malaysia within this year.'
"To put it simply, leading a company requires keeping up with the times,' he said. 'You must constantly adapt, learn, and grow. That's the only way to build a company that can thrive in a fast-changing world.'
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