Tuesday, May 28

Tag: investment

Major US companies have announced plans to establish operations in Malaysia
Business, Finance

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 comp...