Sunday, May 26

Major US companies have announced plans to establish operations in Malaysia

Two significant US electrical and electronic companies, one of which is anticipated to invest at least RM500 million, are planning to expand into Malaysia.

According to Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz, the global supplier of consumer and commercial tools, appliances, and floor care, Alton Industry Ltd Group (Alton Group), will invest at least RM500 million to establish its manufacturing and research and development (R&D) base in Johor.

The new facility’s design, which is set to open in 2024, was revealed at a meeting between the minister and David Lu, president and CEO of Alton Group.

“Another company, which I am not able to name for the moment, will be investing a significant sum in Penang. Both Alton Group and this company have operations in China, and they want to expand to Malaysia,” he said in a press conference.

According to Tengku Zafrul, the Alton Group’s choice to locate its manufacturing and R&D facility in Malaysia was a reflection of the group’s faith in Malaysia’s appeal as a location for foreign investment.

The investment is also completely in line with Malaysia’s recently unveiled New Industrial Master Plan 2030, which seeks to establish an environment that is welcoming to investments and swiftly adopt technology to improve the ecology of the manufacturing industry, he said.

“These companies want to diversify their supply chain, and they are also looking to bring in their suppliers into Malaysia, thus firmly establishing Malaysia as a global technology and innovation hub,” Zafrul added.

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