Latest news with #MIDA
Malaysian Reserve
2 days ago
- Business
- Malaysian Reserve
Vivax-Metrotech invests RM48m in new Penang facility, creating 175 high-skilled jobs
VIVAX-METROTECH Corporation (VXMT), a global leader in advanced utility locating and inspection technologies, has established a new RM48 million manufacturing facility in Penang, which will create 175 high-skilled jobs and enhance production capacity to meet accelerating global demand. The facility houses 16 assembly production lines and specialised clean room operations to manufacture a range of precision technologies used in telecommunications, water, gas and electrical utilities. The expansion strengthens Vivax-Metrotech's global supply chain while reinforcing its presence in Southeast Asia. 'This investment by Vivax-Metrotech Corporation comes at the perfect time as Malaysia strengthens its high-tech manufacturing capabilities,' said Malaysian Investment Development Authority (MIDA) CEO Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid. 'Their commitment aligns with the 13th Malaysia Plan, supporting the goals of the New Industrial Master Plan 2030. Beyond the RM48 million investment, what excites us most is how Vivax-Metrotech will create 175 quality jobs for Malaysians while helping build our advanced electronics ecosystem. MIDA will continue to facilitate Vivax-Metrotech's growth in Malaysia, ensuring they have the support needed to expand their operations and contribute to our industrial development,' he added. Meanwhile, Vivax-Metrotech Corporation CEO and chairman Christian Stolz said, 'Malaysia's proven track record in attracting leading high-technology companies combined with its forward-looking talent pool, exceptional commitment to quality and a strategic location made it a well-suited choice for expanding our manufacturing operations in South-East Asia.' Its president Mark Drew added, 'Expanding manufacturing plays a crucial role in supporting our sales growth and strengthens our global supply chain resilience.' Vivax-Metrotech Shanghai Factory GM Liming Zhang noted, 'Our priority is to ensure the Malaysian site operates seamlessly alongside our existing regional operations. With shared expertise, aligned processes and a strong foundation in precision manufacturing, this expansion reinforces our ability to deliver consistently and operate with the reliability our customers expect.' — TMR
BusinessToday
4 days ago
- Business
- BusinessToday
MIDA, MUFG Bank To Drive High-Value Investments In Malaysia
The Malaysian Investment Development Authority (MIDA) and MUFG Bank (Malaysia) Bhd have signed a memorandum of understanding (MoU) to attract high-value global investments into Malaysia's key growth sectors, marking a pivotal step in the nation's bid to become Southeast Asia's leading innovation hub. MIDA CEO Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid said the MoU will deepen Malaysia-Japan economic ties and promote bilateral investment opportunities. 'By leveraging our extensive business networks, we aim to foster joint ventures and strategic partnerships between Malaysian and Japanese companies, positioning Malaysia as a welcoming destination for Japanese investors,' he said. He then emphasised that the partnership targets strategic industries including semiconductors, speciality chemicals, aerospace, pharmaceuticals, medical devices, electric vehicles, digital technologies and green solutions. Meanwhile, MUFG Malaysia CEO and Country Head Motohide Okuda said the bank is committed to drive Malaysia's sustainable growth. 'This MoU reflects our shared vision to bring high-quality inbound investments from our global and Japanese clients, contributing to Malaysia's long-term economic success,' he said, noting MIDA's proactive engagement through MUFG-led initiatives, including the MUFG Net Zero World forum in Sarawak and the Semiconductor Seminar in Penang this year.
Malay Mail
5 days ago
- Business
- Malay Mail
Hunan Yuneng picks Malaysia for its South-east Asian lithium battery production hub
SEREMBAN, Aug 8 — Leading Chinese battery manufacturer Hunan Yuneng New Energy Battery Material Co Ltd (Hunan Yuneng) has officially announced the establishment of its first South-east Asian manufacturing facility in Malaysia. The new state-of-the-art manufacturing facility, located at SPD Tech Valley, Senawang, will be dedicated primarily to producing lithium battery cathode materials. The is Hunan Yuneng's first project in Malaysia, which is expected to create over 200 new job opportunities. Malaysian Investment Development Authority (Mida) chief executive officer Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid stated that the signing of a memorandum of understanding (MOU) by the company with Invest Negeri Sembilan and SPD Tech Valley Sdn Bhd represented a significant milestone in Malaysia's efforts in the development of its clean energy sector. 'This MOU marks a significant milestone that aligns perfectly with Malaysia's long-term industrial transformation plans under the 13th Malaysia Plan (13MP) and the New Industrial Master Plan 2030. 'We've identified sustainability, innovation, and advanced technology as key pillars driving our nation's growth, and this investment by the company aligns strongly with all these priorities. MIDA stands ready to support this project with our full range of facilitation services and ecosystem development initiatives,' he said in a statement here today. The MOU was signed between Invest Negeri Sembilan chief operating officer Datuk Najmuddin Sharif Sarimon, Hunan Yuneng Deputy CEO Liang Kai and SPD Tech Valley CEO Ten Wee Seong, witnessed by Menteri Besar Datuk Seri Aminuddin Harun. Sikh Shamsul said Hunan Yuneng's technical expertise, combined with strong local partnerships, strongly positions Malaysia to enhance its role in the global clean energy value chain. Meanwhile, Liang noted that Malaysia has successfully drawn a growing cluster of Chinese enterprises across the new energy battery industry to establish operations in the country. He said the forthcoming Malaysian facility will serve as Hunan Yuneng's strategic springboard for expanding throughout South-east Asia. 'Hunan Yuneng's participation will materially strengthen Malaysia's new energy battery ecosystem, elevating the nation's position as a comprehensive industry hub in the region,' he said. — Bernama
Barnama
5 days ago
- Business
- Barnama
Hunan Yuneng Picks Malaysia For Its Southeast Asian Lithium Battery Production Hub
BUSINESS SEREMBAN, Aug 8 (Bernama) -- Leading Chinese battery manufacturer Hunan Yuneng New Energy Battery Material Co Ltd (Hunan Yuneng) has officially announced the establishment of its first Southeast Asian manufacturing facility in Malaysia. The new state-of-the-art manufacturing facility, located at SPD Tech Valley, Senawang, will be dedicated primarily to producing lithium battery cathode materials. The is Hunan Yuneng's first project in Malaysia, which is expected to create over 200 new job opportunities. Malaysian Investment Development Authority (MIDA) chief executive officer Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid stated that the signing of a memorandum of understanding (MOU) by the company with Invest Negeri Sembilan and SPD Tech Valley Sdn Bhd represented a significant milestone in Malaysia's efforts in the development of its clean energy sector. 'This MOU marks a significant milestone that aligns perfectly with Malaysia's long-term industrial transformation plans under the 13th Malaysia Plan (13MP) and the New Industrial Master Plan 2030. 'We've identified sustainability, innovation, and advanced technology as key pillars driving our nation's growth, and this investment by the company aligns strongly with all these priorities. MIDA stands ready to support this project with our full range of facilitation services and ecosystem development initiatives,' he said in a statement here today. The MOU was signed between Invest Negeri Sembilan chief operating officer Datuk Najmuddin Sharif Sarimon, Hunan Yuneng Deputy CEO Liang Kai and SPD Tech Valley CEO Ten Wee Seong, witnessed by Menteri Besar Datuk Seri Aminuddin Harun. Sikh Shamsul said Hunan Yuneng's technical expertise, combined with strong local partnerships, strongly positions Malaysia to enhance its role in the global clean energy value chain. Meanwhile, Liang noted that Malaysia has successfully drawn a growing cluster of Chinese enterprises across the new energy battery industry to establish operations in the country. He said the forthcoming Malaysian facility will serve as Hunan Yuneng's strategic springboard for expanding throughout Southeast Asia. 'Hunan Yuneng's participation will materially strengthen Malaysia's new energy battery ecosystem, elevating the nation's position as a comprehensive industry hub in the region,' he said.
Barnama
5 days ago
- Business
- Barnama
MIDA, MUFG Bank Partner To Accelerate Malaysia's High-Value Investment
BUSINESS From left: MIDA CEO Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid, MUFG Chairman Kanetsugu Mike, and CEO and Country Head of Malaysia Motohide Okuda. Credit: MIDA KUALA LUMPUR, Aug 8 (Bernama) -- The Malaysian Investment Development Authority (MIDA) and global banking subsidiary MUFG Bank (Malaysia) Bhd have entered into a strategic partnership to accelerate high-value investment in Malaysia. MIDA said the memorandum of understanding (MoU) focuses on attracting global investment in semiconductors, speciality chemicals, aerospace, pharmaceuticals, medical devices, electric vehicles, digital sectors and green technology. Chief executive officer (CEO) Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid emphasised the partnership's role in strengthening Malaysia–Japan economic ties. "This strategic alliance will actively promote investment opportunities in high-value and competitive sectors by facilitating bilateral investment. "By leveraging our extensive business networks and ecosystems, we seek to foster joint ventures and strategic partnerships between Malaysian and Japanese companies," he said in a statement. He added that MIDA and MUFG Malaysia will also work together to position Malaysia as a welcoming destination for Japanese investors, including through events and outreach activities that support mutual engagement. MIDA added that the partnership marks a significant milestone in Malaysia's journey towards becoming a leading innovation hub in Southeast Asia, as it comes at a crucial time for Malaysia's economic transformation in light of the recent 13th Malaysia Plan announced last week. Meanwhile, MUFG Malaysia CEO and country head Motohide Okuda said the MoU reflects a shared vision to support Malaysia's economic growth by leveraging its global network to promote high-quality inbound investment from global and Japanese corporates, and further contribute to the sustainable development and long-term success of Malaysia. -- BERNAMA
