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THE STAR, TUESDAY 28 JUNE 2016

special

INVEST MALAYSIA

Looking to the future

THE STAR, TUESDAY 28 JUNE 2016

2 invest malaysia

MODELLED after global financial


centres such as Canary Wharf in
London and Marina Bay in
Singapore, the Tun Razak
Exchange (TRX) development was
conceived to create a financial and
commercial hub for Kuala Lumpur
that is truly world class.
It will be one of the most
transformative urban regeneration
projects for the city, injecting new
life into the area and redefining
the future central business district
of Kuala Lumpur.
As a financial and commercial
centre, TRX aims to create a
business ecosystem that enables
companies to be more efficient
because of the ease and
convenience that it offers access
to a larger pool of talents,
proximity to customers and
partners, and greater opportunities
for networking.
The 70-acre (28.3ha) district
boasts grade-A office space,
exclusive residential towers and
hotels, and hospitality, retail and
leisure offerings that offer
world-class work, live and play
environment with an estimated
gross development value of
RM40bil.
Part of the Governments
Economic Transformation
Programme, TRX represents the
physical nucleus to focus the
groundwork that Malaysia has
done both in conventional and
Islamic finance and provide a
physical hub to financial players
and investors.
Aside from the clustering
benefits of world-class financial
institutions and homegrown
companies in one place, TRX
can also help in branding
Kuala Lumpur as a global
financial city, providing a worldclass setting to support the citys
future growth and job creations
within the financial and services
sectors.
Essentially, the TRX project is an
investment opportunity especially
for investors and financiers who
see Kuala Lumpur as a leading
emerging international financial
city and first global hub of Islamic
finance.
This proposition has appealed to
local and foreign investors alike.
TRXs roster of investors includes
global infrastructure and property
group Lendlease, Indonesian
property giant Mulia Group, Veolia
Water Technologies, Affin Bank
Berhad, Lembaga Tabung Haji and
the WCT Group.
Its master developer TRX City
Sdn Bhd, which changed its name
from 1MDB Real Estate Sdn Bhd
last December, is in the final stage
of an ownership transfer to the
Finance Ministry.
With this, TRX City now has a
firmer, more focused footing to
create a dedicated financial hub
for Malaysia.
This year has recorded strong
progress for the project. In May,
the concrete pouring for the
Signature Tower, involving a
massive 20,000m3 mat foundation,
took place over two days one of
the biggest concrete pourings seen
in the world.
The construction of the
Signature Tower developed by
Mulia is rapidly progressing. The
early development of the tower is

The entire TRX district will be walkable, with shaded routes and connections between the MRT station and shopping mall through the park.

World-class transformation
crucial to the maturity of TRX as a
whole, as it acts as an anchor
landmark to the entire project.
It can also help catalyse the
physical development for other
parts of TRX and support the
establishing of the overall TRX
brand.
The tower, which is currently the
only building in TRX offering office
space for lease, will comprise 92
floors, with massive column-free
floor plates averaging at 34,000sq
ft. It is located within the
prominent Financial Quarter of
TRX, fronting Jalan Tun Razak and
Jalan Sultan Ismail.
The development of TRXs
Lifestyle Quarter has also seen
solid progress since April, with
rock blasting and excavation works
being carried out.
The retail-led mixed-use
development, which has a forecast
gross development value of more
than RM8bil, is a joint undertaking
between TRX and Australias
Lendlease.
It occupies more than 17 acres
(6.9ha) and, when completed,
will comprise a new retail mall,
several residential towers and a
hotel, all connected to a roof-top

central TRX park.


The design and planning
approval process for the lifestyle
and residential components is
currently in the advanced stages,
and the development is expected
to be launched in the second half
of this year.
Ensuring the district is
seamlessly connected and
accessible has been a priority to
TRX. Apart from hosting two MRT
lines the Sungai Buloh-Kajang
line and the Sungai Buloh-SerdangPutrajaya line TRX will also
undertake improvements of the
road connectivity in the area, with
new access points and an upgrade
of existing roads.
The areas surrounding TRX are
already seeing value uplifts as
investors and real estate players
anticipate the benefits of being
close to an international financial
district and a significant
improvement in connectivity.
In early June, TRX City started
the tender process for the next
phase of its infrastructure work:
the proposed traffic dispersal and
improvement to part of Jalan Tun
Razak, as well as construction of
the TRX ingress and egress.

This contract will include the


construction of Jalan Tun RazakTRX Ingress and Egress
(underground tunnel), MEX-TRX
Ingress (elevated), SMART-TRX
Ingress and Egress (underground
tunnel), and related works.
TRX is spending an estimated
RM3bil on its infrastructure to turn
the 70-acre (28.3ha) land into a
truly accessible international
world-class financial hub.
This involves creating a loop
tunnel system for TRX, which
provides direct access to and from
the major highways and to various
points within the development,
giving the district the best
connectivity in the city.
The TRX Master Plan also
includes rejuvenating and
regenerating the surrounding
areas such as Bukit Bintang, a plan
that is aligned with Kuala Lumpur
City Halls vision to enhance the
city and turn it into one of 20 most
liveable cities in the world.
Moreover, TRX has in place
a solid sustainability agenda
it is investing in green facilities
covering waste water
management, digital infrastructure
and public spaces to create a truly

Once completed, TRX is set to become a world-class financial and commercial hub that will enhance the nations
capital.

sustainable international
financial district.
One of the advantages for TRX
being developed at a master plan
level is that, apart from having
buildings that meet a required
level of sustainability, its large
infrastructure is outfitted at the
district level this allows
businesses and residents to be
even greener.
TRX is currently partnering
with Veolia Water Technologies
Southeast Asia for wastewater
treatment and recycled water
supply.
A key component of its
sustainability framework, the
district will be supported by
Veolias onsite water treatment
system to reduce water
consumption by recycling more
than 90% of the wastewater.
This recycled water is to be
used mainly for toilet flushing,
cooling and irrigation and is
expected to cut potable water
demand from Syarikat Bekalan
Air Selangor (Syabas) by about
half. The recycled water will also
be used for irrigation of the
12-acre (4.9ha) TRX central park,
the green lung at the heart of the
district.
The park and the rest of TRX
landscape are important elements
in helping the district create a
desirable open space in making it
a pedestrian-friendly district.
The entire TRX district will be
a walkable neighbourhood with
shaded routes, including
connections between the MRT
station and the shopping mall
through the park.
Squares, gardens and parks
will all be connected via a
network of water features and
streets lined with mature trees.
Grant Associates, the consultant
for distinctive sustainable
landscape such as Singapores
Gardens by The Bay, has been
chosen to design TRXs Public
Realm.

n For more information,


visit trx.my.

THE STAR, TUESDAY 28 JUNE 2016

THE STAR, TUESDAY 28 JUNE 2016

4 invest malaysia

Booming capital of creation


AT the heart of Malaysias
transformation into a digital-based
economy is the city of Cyberjaya,
which has grown since its launch
in 1997 to become the Global
Technology Hub for Malaysia.
Solidifying its position as a
premier information and
communications technology (ICT)
location in the region, Cyberjaya
is shifting its focus from
infrastructure to value-added
activities such as the development
of content and applications, while
creating the ecosystem to spur
entrepreneurship, creativity and
innovation.
Spearheading this development
is the tech hub enabler Cyberview
Sdn Bhd, which develops
Cyberjaya, now billed as Malaysias
Capital of Creation, into the prime
location for inventors, innovators,
investors, entrepreneurs and
start-ups in the region to introduce
their technological innovations.
The company started out as the
landowner of Cyberjaya and went
on to facilitate land sales and
leases as well as construction in the
area. By 2011, Cyberview had
taken on the responsibility of
driving the growth of Cyberjaya
into a Global Technology Hub.
Today, Cyberviews chief role is
to build reliable infrastructure
and a broad-based ecosystem
comprising collaborators and
partners with the technology and
capacity to help realise the goals of
entrepreneurs, innovators and
investors.

Collaborative
infrastructure
According to Cyberviews
managing director Faris Yahaya,
Cyberjayas journey is part of
Malaysias aspiration to become a
high-income economy rooted in
digital innovation.
We intend to be fully recognised
as a global tech hub by 2020, and
this is a continuous work in
progress we are constantly
adding new milestones as we bring
new collaborators and projects on
board, says Faris.
Building an environment
conducive to technological and
business growth is Cyberviews
priority in meeting this goal, and
the Smart City initiative is a key
component of strengthening
infrastructure and improving
quality of life.
For example, the Low Carbon
City Framework was implemented
to align and mobilise green efforts,
aiming to reduce Cyberjayas

carbon emissions by 21% by 2020.


These plans are part of
Cyberviews Smart City 5 Year Road
Map, which consists of four phases:
introduction of smart city
foundation last year, promoting
consumption of smart city
solutions this year, integrating
solutions for control and
monitoring from 2017 to 2018, and
promoting widespread access and
adoption from 2019 to 2020.
Last year in July, Cyberview
signed a memorandom of
understanding (MoU) with MIMOS
as one of the key initiatives under
Cyberjaya Smart City Initiative. The
MoU focuses on making Cyberjaya
a model Smart and Safe City
through the IoT (Internet of
Things).
Cyberview is working on
establishing a City Innovation
Council to provide endorsement,
assistance and guidance for smart
city projects in Cyberjaya.
This is based on the four smart
city pillars infrastructure,
economy, environment and social
spanning industries such as retail/
consumer, financial services,
healthcare and education.
These projects will further
emphasise the application of the
nine tech focus areas of the Global
Technology Hub: information
security, creative content, mobile
Internet, cloud computing, big data
analytics, green technology,
biotechnology, wearable
technologies, and smart grid
technology, which are within the
context of smart city and urban
lifestyle.
Cyberview further champions
collaborative innovations through
the setting up of Collaboration
Centres, which encourage
borderless development among the
800 odd companies consisting of
highly qualified technology
professionals.
Existing properties have been
refurbished into collaboration
centres that focus on creative
content creation, cross-sectoral
development in IoT and big data
for the development of smart city
solutions, and biomedic that will
complement Cyberjaya Hospital
through this technology focus area.
The use of spaces such as
these can combine products,
technologies and skills to help
nurture and build solutions across
sectors.
In addition, high-speed Internet
of up to 1GB per second was
recently made available by Aries
Telecom, and the Wireless
Cyberjaya project launched late

Treasury
secretary
general of the
Finance Ministry
Tan Sri Dr Mohd
Irwan Serigar
Abdullah
(centre) and
Cyberview
managing
director Faris
Yahaya (second
from right) at
the document
exchange
ceremony for
the
Memorandum
of Collaboration
with Intelsec
Sdn Bhd.

last year expands the wireless


broadband coverage and improves
speed connections across 127
access points.
Come next month, Cyberjaya will
also become the first township
where network operators can offer
high-speed Internet and 4G LTE
connectivity.
This is courtesy of the 22
high-speed mobility solutions that
will be deployed by Axiata Group
Bhds telecommunication
infrastructure arm edotco Malaysia
Sdn Bhd.

Innovation launch pad


Such efforts are surely
encouraging on Cyberjayas
journey towards becoming a selfsustaining technology hub, but
Faris emphasises that innovation
can only go so far with a stringent
top-down approach.
Innovation needs to be
nurtured from the ground up,
responding and reacting to market
forces and demands. Our role as
the tech hub enabler is to set the
conditions to facilitate the
development of these solutions and
then take a step back to let the
magic happen, he says.
In tandem with this, Cyberview
launched its Living Lab initiative,
which turns Cyberjaya into an
innovation platform for talents,
start-ups, pilots and enterprises to
test out and validate their
technologies.

Cyberjayas infrastructure development grooms it to become the nations Global Technology Hub.

Inventors and entrepreneurs


are invited to use Cyberjaya as
their very own tech innovation
playground by trying out ideas,
technologies and prototypes in the
city before they are more widely
adopted in other cities and
countries.
Four programmes are carried
out under the Living Labs
initiative:
l Living Lab Talent
Cyberview drives programmes
encouraging entrepreneurs to
bring their ideas and innovations
to the next level, by leveraging
industry leaders technology and
business skills to nurture and
empower students, women and
small and medium enterprises
(SMEs) into a high-skilled
workforce.

l Living Lab Accelerator This


programme houses start-ups, such
as TheLorry.com that managed to
secure a series A funding worth
RM9.6mil.
These companies have access to
capital, experienced mentors and
prominent start-up leaders through
government agencies such as
Cradle Fund and the Malaysian
Global Innovation and Creativity
Centre (MaGIC) as well as ample
space for inter-venture
collaborations.
l Living Lab Pilot As
Cyberjaya is a growing precommercialisation innovation
playground, Cyberview facilitates
relationships with various partners
to test out prototypes and concepts
that could be of value to the
township.
l Living Lab Enterprise With
more than 800 technology
companies in one city, Cyberview
also connects SMEs with profitable
partners giving businesses the
right push to thrive with essential
business and digital skills training,
industry updates, technical
upskilling, funding access
facilitations and market access.

Eye on the future

Several companies have chosen


Cyberjaya as their innovation test
base, including homegrown
animation house Animonsta
Studios, ride-sharing services
provider Tumpang, currency
exchange platform MoneyMatch,
cloud-based social review platform
Ittify and multi-operating-systems
app developer Terato Tech.
Faris reveals that Cyberview is
also working on details with a
notable media station looking to
expand its business to Cyberjaya in
the near future.
Cyberview believes that this will
extend benefits to the community
through cross-collaborations
between the station and content
developers and providers.
Besides collaboration spaces,
soft landing zones and industry
development programmes,
companies are also attracted by
Cyberjayas comprehensive range
of incentives and investor services.
These include tax exemptions of
up to 100% for up to 10 years as
well as grants and funding at any
stage of the business life cycle.
Excellent investor services
covering tailor-made fiscal
incentives, smooth and transparent
facilitation in regulatory matters,
business matching for diverse and
strategic partnerships, siteselection assistance, and talent
facilitation greatly ease the growth
of investments in Cyberjaya.
Faris highlights the need for
positive and honest collaboration
in achieving Cyberviews goals,
with key stakeholders working to
deliver its promise.
We are always open to bold
new ideas, businesses and
collaborations. Cyberjaya as a
living lab has no fixed shape and
everyone can play a role in shaping
the future of Cyberjaya as
Malaysias Capital of Creation, he
concludes.

n For more information, visit


www.cyberview.com.my or
call 03-8315 6111.

THE STAR, TUESDAY 28 JUNE 2016

THE STAR, TUESDAY 28 JUNE 2016

6 invest malaysia

Golden touch
of Selangor
SELANGOR has always been at the
forefront of investment and
development in Malaysia. Dubbed
the golden state, Selangor is not
only a prime location for potential
investors to make a mark here in
Malaysia, it is one of the states with
the best accessibility to business
and lifestyle infrastructure for
investors and expatriates.
Invest Selangor, the states
investment promotion agency, is
always on its toes to promote
Selangor for foreign direct
investment (FDI) and domestic
direct investment (DDI).
Formerly known as the Selangor
State Investment Centre (SSIC
Berhad), Invest Selangor
underwent a massive rebranding
exercise to emphasise its relevance
to the local and foreign investment
scene and create a lasting branding
impression. To date, Invest
Selangor has received excellent
feedback as a result of its
rebranding.
This year has proved to be a
challenging year so far for
investments across the board in
light of the recent slump in the
global economic climate due
to the drop in oil prices and
the Malaysian ringgit.
However, Invest Selangor
believes that every cloud has its
silver lining and these challenges
now present themselves as
opportunities to allow Selangor to
shine as a premier investment
destination.
The drop of the ringgit has
become quite the advantage as the
purchasing power among investors
has increased and it is now
cheaper to purchase land, factory
lots and other infrastructures to
start a business here in Selangor,
says Hasan Azhari Idris, chief
executive officer of Invest
Selangor.
According to Hasan, Malaysian
exporters also benefit from the
lower prices compared with

previous years. Nevertheless, he


hopes that the current economic
climate will improve by the end of
this year to further boost revenue
for Selangor.
Over the last 16 years (1999 till
2015), the total direct investment
Selangor has received is valued at
RM130bil.
Last year, Invest Selangor
managed to attract up to
RM7.9bil of investment in the
manufacturing sector RM3.78bil
of foreign direct investment and
RM4.18bil of domestic direct
investment.
In the establishing of
investments within the service
sector, specifically from global
establishments, Selangor was
ranked No.2 after Kuala Lumpur
last year, with investments
amounting to RM1.6bil.
This category covers a wide
range of companies regional
functions and corporate services,
including information technology,
trading, distributions and financial
services.
Invest Selangor has set a
conservative estimate this year due
to the slump in the global economy.
Last years investment target in
the manufacturing sector was
RM8bil but this year it is targeted
at RM6bil, 24% lower than last year
to make way for the stabilisation of
the economic condition and
further appreciation of the ringgit,
says Hasan.

New horizons
To further boost investment
opportunities in the state, Invest
Selangor has set up councils to
oversee industries that are now
booming and gaining a global
market attention.
The Selangor Information
Technology and E-commerce
Council (Sitec) was launched last
year to develop Selangor as a
trading centre for e-commerce and

New waves
SINCE the start of the year, new
investment proposals have been
buzzing in Selangor and these
projects will not only contribute
to the states GDP but will open
up more job opportunities.
1. UMW intends to establish a
hard metal manufacturing park
in Serendah targeting the
aerospace industry, where the
company will manufacture fan
cases for aircraft engines for
engine maker Rolls Royce.

Industrial Estate in Klang,


Selangor, with land size of
670,000sq m.

2. Airbus has chosen local


engineering solutions provider
SDMK Sdn Bhd as one of its
global suppliers of jigs for its
composite repairs.

5. Oji Holdings Corporation


Japan officially opened its new
plant with an investment of
RM40mil in Banting, Selangor,
on June 2.
It is equipped with state-ofthe-art technology and will
produce disposable diapers and
deliver orders to targeted
markets across South-East Asia.

3. UMW Toyota to invest


RM2bil in a second
manufacturing plant that will
be located at the Bukit Raja

4. Malaysia Airlines Bhds


parent company, Malaysia
Aviation Group Bhd (MAG), has
proposed a joint venture with
Lufthansa Technik AG to set
up a regional maintenance,
repair and overhaul facility in
Malaysia, which will be based
in Selangor.

The second soft launch of the Selangor International Expo 2016 officiated by the Selangor Mentri Besar Datuk Seri
Mohamed Azmin Ali (third from left) in Tokyo, Japan, on May 16.

to uplift the startup ecosystem.


This council is chaired by Datuk
Teng Chang Khim, the Selangor
state senior executive councillor
for investment, industryand
commerce,small and medium
enterprises (SMEs) and
transportation. Sitec encourages
SMEs and start-ups to embrace
e-commerce and widen their
market to promote their products.
Since last June, Sitec, under
Invest Selangor, set a target of a
hundred SMEs to go online in a
year by providing trainings in
information technology and
e-commerce. As of last month,
Sitec surpassed the target with 170
merchants who have gone online,
says Hasan.
Sitec is also responsible for the
Selangor Digital Creative Centre
(SDCC). Located in i-City Shah
Alam, the 11,000sq ft (1,021.9sq m)
centre comprises an incubator
and co-working space for SMEs,
start-ups and some established
companies in the e-commerce
sector.
In March, Invest Selangor
established the Selangor Bio
Council to meet the growing
demand for research and
development and the
commercialisation of life sciences
applications in the country.
This council will comprise
academicians from University of
Selangor (Unisel), Cyberjaya
University College of Medical
Sciences (CUCMS) and Malaysia
Biotechnology Information Centre
(Mabic), representatives from the
Federal Government such as the
International Trade and
Industry Ministry (Miti),
Malaysian Investment
Development Authority
(Mida) as well as key
industry players in the future.
Biotechnology is one of
Invest Selangors focus
industries under the
life sciences wing
beginning with the
development of a
392.5ha site in
Pulau Indah for
the Selangor Bio
Bay project.
This project
is still in its
initial stage
and will be
launched later
this year. The
Selangor Bio
Council members
will be in charge of

steering this project in terms of


developing policies and facilities
for the bay.
Another council that has been
approved by the state government
of Selangor is the Selangor
Aerospace Council, which is
spearheaded by Datuk Seri
Mohamed Azmin Ali, the Mentri
Besar of Selangor.
The inaugural meeting is
scheduled for this year and will
involve relevant key players from
the government, industry and
academia.
The aerospace industry is given
a special focus because more than
60% of the aerospace industry in
Malaysia is located in Selangor. We
want to leverage on Selangors
three aerospace sites, which are
Sepang, Subang and Serendah (3S),
of which the latter is developed by
UMW. There are more investment
opportunities for hard metal
technology on the Serendah site,
says Hasan.

Creating exposure
Selangors service sector
contributes 59.5% of Selangors
gross domestic product (GDP) and
another 29.5% is contributed by
the manufacturing sector.
Hence, Invest Selangor is
looking to boost both these
sectors by organising the Selangor
International Expo 2016 for the
second time running from Oct 20
to 22 at the Mines International
Exhibition and Convention Centre
(MIECC).
The expo aims to
promote Selangor as an
investment destination
and a gateway to
investment opportunities
in the Asean global
trading hub in Malaysia.
It is also an opportunity
for investors to learn about
the infrastructure,
logistic partners
and distribution
centres available
in Selangor and
how they can
leverage on
them, says
Hasan.
Since last
year, Invest

Hasan Azhari Idris,


chief executive
officer of Invest
Selangor Berhad.

Selangor has been focusing on five


industry clusters, which are
electrical and electronics, transport
equipment (especially in the
automobile and aerospace
industries), life sciences (emphasis
on pharmaceutical, nutraceutical,
biotechnology and medical
devices), food and beverages
manufacturing, and machinery
and equipment.
We narrowed down our
attention for Selangor
International Expo 2016 from the
five clusters and concluded that we
should focus on life sciences, the
halal industry and e-commerce
based on our discussions with
various chambers of commerce in
Selangor and Malaysia in general,
says Hasan.
Last year, the expo housed 400
booths from foreign and local
investors with a make-up of 46%
foreign investors and 54% local
investors.
This year, Invest Selangor is
targeting to showcase 600 booths
and as of now, 60% of the booths
have been reserved.
The expo will be targeting trade
visitors from Asean nations, China,
Japan, South Korea and some
Middle East nations.
The second soft launch for the
expo was held in Japan during
Invest Selangors annual
investment promotion mission
there, and is part of its 23-city
global promotion mission.
Such missions are part of the
efforts taken by Invest Selangor to
engage with foreign investment
chambers and conduct seminars to
promote Selangor as an investment
opportunity.
Since February, we have been to
nine countries and more than 20
cities around the world compared
with just an average of five cities
last year. These missions were a
success in creating awareness of
Selangors potential as an
investment hub among
international industry players,
says Hasan.
According to the latest GDP by
State, 2010 2014 report published
by the Department of Statistics,
Selangor contributed 22.4% to the
national GDP, the highest of all the
states.
Invest Selangor is optimistic that
this trend will continue further
with its efforts to boost the growth
of both the state and the country.

n For more information, visit


www.investselangor.my.

THE STAR, TUESDAY 28 JUNE 2016

THE STAR, TUESDAY 28 JUNE 2016

8 invest malaysia

THE East Coast Economic Region


(ECER), comprising the peninsular
east coast states of Pahang,
Terengganu, Kelantan and the
Mersing region of Johor, is no
longer one that is lagging in
economic terms as it was long
thought to be.
So much has happened in its
advancement since 2007, especially
since the ECER Development
Council (ECERDC), in collaboration
with the state governments, laid
down the strategies and guided its
development.
This is a story that must be told
so that investors will know that
from today onwards, locating their
investments within this region
makes most sense for long-term
growth and expansion.
The region has continued to
attract both foreign and domestic
investments of RM89.7bil,
generating 133,000 jobs and
creating 14,240 entrepreneurs
across urban and rural areas in
Kelantan, Terengganu, Pahang and
Mersing in Johor.
This momentum is set to
continue with the Governments
support and strategic human
capital, socioeconomic
programmes and infrastructure
projects implemented under the
9th and 10th Malaysia Plans.
To further accelerate ECERs
growth towards becoming a
developed and high-income region,
the Government has allocated
another RM1.2bil under the Rolling
Plan 1 of the 11th Malaysia Plan
(11MP 2016 to 2020) to
implement 12 new high-impact
projects and human capital
development programmes.

Strategic game-changing
infrastructure
The development of strategic
infrastructure in ECER is far from
over. More is being, and will be,
done.
The Kuantan Port expansion that
will be completed by 2018 will be
one of the game-changers. Once
completed, it will be an 18m
draught deep-water port with an
additional 4km of berth space
capable of handling 52 million
freight weight tonnes and vessels
of up to 200,000 deadweight
tonnage (DWT). The port will be
able to take in the largest ships
such as those of the Panamax class.
Kuantan Port is poised to
become the Rotterdam of the
East, where the expansion of the
port will contribute to a quicker
and direct route between ECER and
other ports in Chinas eastern
region and to the rest of the world.
Currently, it takes only three to
four sailing days from Kuantan
Port to Qinzhou Port in China, and
four to five days to Osaka in Japan.
The Government has provided
incentives and infrastructure to
support the growth and
connectivity in the ECER with the
other parts of peninsular Malaysia
and the rest of the world.
The East Coast Expressway
(LPT1) has halved travel times
between Kuala Lumpur and
Kuantan. LPT2, which connects
Jabor to Kg Gemuruh, Kuala Nerus,
has been completed while LPT3
that will extend the reach of the
expressway along the coast
through Terengganu to Kota Baru,

ECER: preferred
investment destination

Datuk Seri Jebasingam Issace John.

Once Kuantan Ports expansion is completed in 2018, it will provide a


quicker, more direct route to the rest of the world.

Kelantan, is already in the plan.


There is also the Central Spine
Road being built now, a four-lane
highway that runs from Bentong
through western Pahang across
Kelantan to Kota Baru.
This will open up access to more
hinterlands in the two states and
therefore more potential locations
for resource-based investments.
On the horizon is another gamechanger, the East Coast Rail Link
(ECRL), that will provide rail
connectivity from the Klang Valley
to Kuantan, and up along the coast
to Kuala Terengganu and Kota
Baru.
Eventually, it will be the only
standard-gauge rail line that
connects Malaysia to Thailand
and runs all the way to Kunming
in China.
Given ECERs wealth of natural
resources and land availability,
it is cost-effective for investors,
domestic or foreign, including
those looking at expansion or
relocation, to develop their
businesses in the region as they
will have easy access to raw
materials and industrial land for
future expansion, which will
ultimately lead to a lower cost of
doing business.

Industrial parks
Industrial parks play a key
catalysing role for manufacturing
in ECER. Cumulatively, ECERs 12
industrial parks have to date
attracted RM23.2bil in investments,
creating 30,000 jobs for the people.
The Malaysia-China Kuantan
Industrial Park (MCKIP) began
with 1,400 acres (566.6ha) but in
the last year, the increasing
demand for land from China
investors has resulted in approved
expansion in the area to become

3,000 acres (1,214ha) today.


Bioeconomy-based production
in ECER has grown rapidly such
that it is now the second-largest
investment cluster in Terengganu.
This was catalysed by the Kertih
Biopolymer Park and plans are
being made to double the area of
KBP in the immediate term.
Halal products are fast becoming
a global economic component and
ECER has two industrial parks
dedicated as halal clusters.
These are the Gambang Halal
Park in Pahang within the vicinity
of Kuantan and its port and Pasir
Mas Halal Park in Kelantan that is
located near the Thai border, near
to the future cross-border road and
rail connectivity that will become a
part of the New Silk Road of Asia.
The Kuantan Integrated Bio Park
serves as a hub for investments
in the production of palm oil
and other biomass-based
manufacturing and is the only
industrial park in Malaysia tailored
for this strategic cluster.
On the information and
communications technology (ICT)
front, the Pahang Technology Park
has been identified as the first
high-technology and cyber city
within the ECER.
The technology park, which
includes components such as
biotechnology and an ICT and
agritech centre, will allow investors
to take advantage of the natural
resources and raw materials
available in the Region.
Meanwhile, the Pekan
Automative Park (PAP) has
emerged as Aseans regional base
for global brands such as
Volkswagen, Suzuki and Mercedes
Benz.
With the expansion of PAP
scheduled for completion in 2020,
it will consist of a dedicated

industrial zone, National


Automotive Testing Centre,
integrated vendors park as well as
a residential and commercial zone.
Other parks include the Pahang
Bio-aromatic Park, Herbal
Integrated Cluster Development
Chegar Perah, Herbal Integrated
Cluster Development Pasir Raja,
Tok Bali Integrated Fisheries Park
and Kuantan Fish Processing Park.
Opportunities for investors to
come into the ECER remains
enormous as these industrial parks
continue to improve its service and
existing infrastructure.
At the same time, land prices are
still relatively low in ECER and, in
many cases, this is not a significant
cost factor in an investment
project.
Price levels of ready industrial
land here is about 50% to 70%
lower than in the more developed
regions of peninsular Malaysia.

Property and lifestyle


Parallel to industrial
development in ECER, the lifestyle
aspect of the economy is also
advancing.
Property development of
increasing standards, tourism and
leisure centres, public and private
education establishments from
schools to universities are growing
in number.
Crowning such development is
the Kuala Terengganu City Centre
(KTCC) set to transform the citys
standard of living into a 21st
century place to live and work.
Today, 40% of the KTCC area is
already allocated to several
development companies of hotels,
a theme park, shopping mall,
entertainment and retail outlets,
commercial and residential
components.

Policies
To further boost investments in
the ECER, the Federal and state
governments have put in place
various incentives and probusiness investment policies to
facilitate the growth of businesses.
These incentives cover tax
exemptions, investment allowance

and even facilitation funds for


high-impact projects.
In addition, human capital
development programmes such as
the ETEP is also in place to ensure
that the right talents are available
to make investments successful.
The ECERDC was set up by the
Federal Government to act as a
one-stop centre to fast-track
investment applications and
approvals as well as provide
counselling, advisory services,
process fiscal and non-fiscal
incentives as well as various
solutions to help make the process
of making investments a fast and
easy one.

Best gateway to the


Asia-Pacific region
Although the economic disparity
between ECER and the more
developed regions in Malaysia is
gradually being reduced, the cost
of doing business in ECER is still
advantageous without sacrificing
much in terms of access to
infrastructure, shipping and
logistics and human capital.
In addition, the lower cost of
living in the ECER has ensured that
wages remain competitive and the
quality of life that this region offers
to working professionals makes it a
very attractive place to live, work
and even for recreation.
ECERs location that faces the
South China Sea, one of the worlds
busiest shipping routes, and
proximity to China and the Far
East makes it a strategic gateway or
springboard for investors who
want to penetrate the Asia-Pacific
region, particularly Asean, China
and the Far East, which comes with
a larger potential market of four
billion people and a combined GDP
of US$17 trillion (RM69.3 trillion),
says Datuk Seri Jebasingam Issace
John, chief executive officer of the
East Coast Economic Region
Development Council (ECERDC).
He says, The ECER is rapidly
transforming into one of Malaysias
most dynamic regions, offering
diverse business opportunities to
both domestic and international
investors. This is possible because
of our strategic collaboration with
the International Trade and
Industry Ministry (Miti), Malaysian
Investment Development Authority
(Mida) and the state governments
of Pahang, Terengganu, Kelantan
and Johor.
Therefore, this is the right time
to make fresh investments,
expansion or relocation of
production and services in ECER, to
increase competitiveness and to be
in the game-changing location that
is fast becoming Malaysias
investment destination and
gateway for trade and investments
for Asia-Pacific.

n For more information, visit


www.ecerdc.com.my.

THE STAR, TUESDAY 28 JUNE 2016

THE STAR, TUESDAY 28 JUNE 2016

10 invest malaysia

THE slow global economic growth


and political instability have had
an impact on Malaysias economic
growth.
However, looking at the bigger
picture, this developing nations
woes with regards to the
investment scene are very much a
global issue as much as they are a
local fix.
As an oil-producing nation, the
crash in global crude oil prices
paired with the depreciation of the
ringgit pose new challenges in
Malaysias investment and
economic scene.
The outcome of these challenges
was significant in Malaysias key
economic indicators last year.
With the real gross domestic
performance (GDP) estimated to be
at 5%, there is a decrease between
the fourth quarter of last year
(4.5%) and the first quarter of this
year (4.2%), as reported by the
Department of Statistics.
Net exports last year reduced by
3.7% while the domestic demand
moderated at 5.9% compared with
5.1% in 2014. The moderated
domestic demand last year
retained the inflation rate below
the long-run average of 3.0%.
Private consumption had also
weakened with a declined
economy liquidity from RM269.9bil
at the end of 2014 to RM205.1bil at
the end of last year.

Break in the clouds


In the midst of a global economic
uncertainty, the Malaysian
Investment Development Authority
(Mida) has projected a GDP growth
of 4% to 4.5% this year.
The Malaysian Institute of
Economic Research (Mier) expects
the 2016 GDP to be steered largely
by private sector expenditures with
tighter liquidity condition,
managed by Bank Negara
Malaysia.
Investors can rest assured that
despite the challenges Malaysia is
facing, the nations economy
demonstrates resilience paired
with strong economic
fundamentals that continue to
attract foreign direct investment
(FDI).
The first quarter of this year
recorded RM37.3bil of approved
FDIs in the services, manufacturing
and primary sectors.
Furthermore, there is an
increase in FDI in the first quarter
of this year compared with the
corresponding period last year; FDI
this year is valued at RM12.8bil.
However, domestic demand will
continue to drive Malaysias
economic growth throughout the
year this can be seen by the fact
that total approved domestic
investment for the first quarter of
this year has already been valued
at RM24.5bil 65.7% of the total
investments for the first quarter.
A great deal of emphasis should
be put in further attracting
domestic investors to take
advantage of the current local
investment scene.
Overall, despite the global
economic situation, Malaysia is still
doing well in terms of growth.
During his speech at the Invest
Malaysia 2016 conference, Prime
Minister Datuk Seri Najib Tun
Razak said that despite the
economic challenges faced by

Bracing for the storm

Despite the slump in the global economy, Malaysias economy is expected to continue its growth, aided by foreign and domestic direct investments.

Malaysia in the last year, the


country continues to show positive
growth.
Malaysias export growth in
February this year rebounded by
6.7% to RM56.72bil after posting a
negative growth of 2.8% year-onyear in January. Imports increased
by 1.6% to RM49.4bil from
RM48.2bil last year, he said.
Between 2009 and last year,
Malaysias Gross National Income
increased by almost 50% with 1.8
million jobs created in total.
Foreign direct investment has been
growing at more than 22% per
annum, he added.

Best foot forward


Even though Malaysia is
expected to experience a more
moderate growth rate in the
second half of the year, the state of
the economic climate is still
expected to be uncertain on both

the global and domestic fronts until


next year.
However, Malaysia is equipped
to attract investors based on its
thriving infrastructure and
policies.
The Malaysian economy will
still benefit in attracting
investment from its diverse growth
sources, economic flexibility, low
unemployment rate, effectively
managed external debt, a wellcapitalised banking system and
developed capital markets, which
will provide continued access to
financing, says Datuk Azman
Mahmud, chief executive officer of
Mida.
The future of investments in
Malaysia does not solely rest on its
economic growth but the core
strengths of the country that will
reap long-term benefits for
investors and the rakyat.
The start of this year also
marked the beginning of the 11th

RM3.8bil
2.1%
Primary sector

Finishing strong
ACCORDING to the Malaysian
Investment Performance Report
2015 published by the
Malaysian Investment
Development Authority, there
was positive account of
investment gained over the
past year despite the impact of
global economic uncertainty.
Malaysias service sector
continues to attract the most
investment with a total of
4,150 approved projects with
investment amounting to
RM108.2bil (57.9% of total
investments last year).
Out of this value, domestic
direct investment (DDI)
totalled RM95.8bil while
foreign direct investment (FDI)
amounted to RM12.4bil worth
of investment.
Malaysia also continued to
attract new projects in the
manufacturing sector last year
that amounted to RM60.2bil
from 384 projects, which is
80.6% of the total investment
approved.
It was recorded that
RM11.6bil (19.3%) worth of
investment was from foreign
sources while RM48.6bil

(80.7%) was garnered locally.


Some of the leading foreign
investments in manufacturing
last year came from the United
States, Japan, Hong Kong,
China and Singapore.
The US charted as the
manufacturing sectors biggest
foreign investor with
investments totalling RM4.2bil
in 19 projects, followed by
Japan with RM4bil in 16
projects; Hong Kong with
RM3.2bil in nine projects;
China with RM1.9bil in 17
projects; and Singapore with
RM1.4bil in 87 projects.
In total, these nations
contributed 66.6% of total
foreign investments approved
in last year.
Investment in the primary
sector (which includes mining,
plantation and commodities,
and agriculture) amounted to
RM3.8bil of approved
investments last year.
Foreign and domestic
investments in this sector
were valued at RM1.8bil
(47.4% of the total) and
RM2bil (52.6% of the total)
respectively.

40%

Total investment
in 2015
57.9%

RM74.7bil
Manufacturing sector

RM108.2bil
Services sector

The total amount of investment in 2015 for the services, manufacturing and
primary sectors.

Malaysia Plan (11MP) and as


Malaysia approaches the last leg in
achieving a high-income nation
status by 2020, the government has
identified specific subsectors to
drive both the manufacturing and
services sectors.
Three catalytic subsectors
(chemicals, electric and electronics,
machinery and engineering
industries) and two subsectors of
high-potential growth (aerospace
and medical devices) have been
selected as key drivers in the

manufacturing sector.
In the services sector, Islamic
finance; information,
communication and technology;
oil and gas services; private
healthcare; private higher
education; ecotourism; the halal
industry; and professional
services are some sub-sectors
that are poised to generate highincome jobs and enhance the
nations economy.

> SEE NEXT PAGE

THE STAR, TUESDAY 28 JUNE 2016

MALAYSIA is constantly looking for


diverse groups of foreign and
domestic investors who are eager
to open new trade opportunities
and create job opportunities for
Malaysians.
As the national investment
promotion agency, the Malaysian
Investment Development Authority
(Mida) has taken the initiative to
help establish new innovations in
Malaysia that will attract more
potential investors to settle here,
especially as the country is a
gateway to the Asean Economic
Community.
Mida provides assistance for
companies that aim to invest in the
manufacturing and services
sectors.
Among the services provided by
Mida are facilitating project
implementations, providing
information regarding investment
opportunities and aiding
companies that are looking
for joint venture partners.
Here are some companies that
have benefited from Midas
assistance in establishing their
business in Malaysia and will bring
interesting innovations to existing
industries thriving in this region.

invest malaysia 11

Novel opportunities
Initiatives have been
taken to establish
new innovations
in Malaysia that
will attract more
potential investors
to settle in Malaysia,
especially as
the country is a
gateway to the
Asean Economic
Community.

Oncogen Pharma
Sdn Bhd
Oncogen Pharma, a subsidiary of
Scitech Ltd, Dubai, is engaged in
the research and development
(R&D) of active pharmaceutical
ingredients (APIs) as well as
formulation and manufacturing of
bulk drugs for applications in the
pharmaceutical industry.
The companys R&D facility in
Shah Alam, Selangor, is the first
API Oncology Research Centre in
Asean while a new manufacturing
facility in Bandar Enstek, Negri
Sembilan, will be formulating and

Investors are looking to establish innovative products and services in Malaysia


as opportunities to create new markets in the region.

producing high-quality oncology


products that will be exported to
foreign markets such as the United
States and Europe.
Oncogen Pharma is leveraging
on Malaysias talented pool of
young and bright scientists and
will actively engage with local

universities for talent recruitment


and internship programmes.

ViTrox Technologies
Sdn Bhd
ViTrox Technologies is a
home-grown company that has

championed the growth of 3D


intelligent vision inspection
equipment incorporating elements
of machine-to-machine (M2M)
technology.
This project will further
complement Malaysias
semiconductor ecosystem,
primarily for the inspection
of complex, minute and 3D
semiconductor packages.
In 2014, ViTrox Technologies
launched its Centre of Excellence
(COE) for Machine Vision
technology. The COE functions
as a R&D/incubator centre and a
training centre.
The R&D/incubator centre
provides an avenue for small and
medium enterprises to gain access
to the adoption of vision
technology while the training
centre provides training for
technopreneurs, professionals,

researchers and institutions of


higher learning in machine
vision technology.

Honeywell International
Sdn Bhd
Honeywell featured on Fortune
magazines Fortune 100 list
provides commercial and
consumer products, engineering
services and aerospace systems for
a wide variety of customers. The
company is the first global
company to join Malaysias
Principal Hub initiative.
The growth of Honeywell in
Malaysia will further contribute
positively to the countrys economy,
especially in the development of
local talent who are crucial to
Malaysias social and economic
growth.

Tosoh Advanced
Materials Sdn Bhd
Tosoh Advanced Materials is a
global Japanese chemical company
that will be manufacturing
synthetic zeolite or high-silica
zeolite (HSZ) in Terengganu.
The production of HSZ in
Malaysia will contribute to
applications in vehicle catalytic
converters in automobile exhaust
pipes to absorb pollutants and
harmful gases.
Being the first of its kind in
Malaysia, the project has the
potential to propel the country to
become a world-class hub for the
production of HSZ and complete
the chemical and petrochemical
ecosystem in the country.

Embracing innovation
> FROM PREVIOUS PAGE
Looking at neighbouring
countries, the South-East Asian
region is also brimming with
investment and trade opportunities
via Asean and the recently formed
Asean Economic Community (AEC).
With a commitment to build a
business-conducive investment
ecosystem, Asean created the
Asean Comprehensive Investment
Agreement, which targets the
liberalisation and protection of
cross-border investment operations
and best practices to handle
foreign investors and investments.
In addition, Malaysia, Indonesia,
the Philippines, Vietnam, Singapore
and Thailand have formed the
Asean Exchanges a live stock
exchange monitoring platform to
promote Asean capital markets and
boost investment opportunities in
the region.

Industry 4.0 an
upgrade
With the intense development in
the integration of automation and
information and communications
technology, the dawn of Industry
4.0 has begun.
Industry 4.0, also known as the
fourth industrial revolution, is the

Investment

9.4%
Average growth of real
private investments

RM
bil
Average private investments
in current prices

2.7%
Average growth of real
public investments

RM

131

bil

Average public investments


in current prices

Consumption

6.4%
Average growth of real
private consumption

3.7%
Average growth of real
public consumption

Investment and consumption projection for 2016 to 2020 under the 11th
Malaysia Plan (11MP).

implementation of automation
paired with data exchange in
manufacturing technology such as
cyber-physical systems, Internet of
things and cloud computing.
Industry 4.0 has the potential to
open up more investment and
trade opportunities for newer
industries in Malaysia by boosting
FDI and creating more job
opportunities, especially for
professionals in niche fields.
According to General Electric
Global Innovation Barometer 2016
survey, 93% of Malaysian business
executives are aware of recent
innovations and believe a
companys innovative value is not

only determined by the launch of


novel products and services but in
creating a new market that did not
previously exist.
However, a lot needs to be done
to make these developments more
attractive to smaller businesses.
Although big companies are
very keen to implement Industry
4.0 in their business operations,
smaller business owners believe
that making sufficient profit with
their existing business model is
good enough and they do not need
to change their ways of doing
business, says Hasan Azhari Idris,
chief executive officer of Invest
Selangor.

Perceptions can be changed


through education and exposure as
more media channels these days
are talking about the advantages of
embracing Industry 4.0, he adds.
With countries such as Germany,
Japan, the United States, China and
India embracing Industry 4.0 as a
key feature in their economies,
staying ahead of the competition is
crucial to stand out to investors.
Malaysia has been paving the
way for Industry 4.0 since 2010.
The growth of information and
communication services and the
paradigm shift from infrastructure
and access to applications were
products of Malaysias Economic
Transformation Programme (ETP).
Several ICT initiatives under the
10th Malaysia Plan such as the
Strategic ICT Roadmap and Digital
Malaysia were also drafted, and an
emphasis on smart manufacturing
was mentioned in the 11MP.
Up till now, Malaysia has
165 projects implemented to
manufacture robotics and
automation equipment for
diverse industries.
A big portion of these
investments are in specialised
machinery, equipment for the
semiconductor industry and
material handling while the rest
are in food and beverages

processing and packaging. The


total investment made in these
industries are valued at RM4.9bil,
says Azman.
The important factor in realising
Industry 4.0 in Malaysia is to
acquire people with specific talents
to handle the integration of
automation and ICT in various
applications.
The key thing is to find people
who can handle the challenges that
industries will face in
implementing Industry 4.0. Hence,
the Selangor Human Resource
Development Centre has been
working to recruit highly trained
individuals as we embrace
Industry 4.0, says Hasan
Even though Malaysia is
currently facing one of its most
challenging economic situations,
its resilience in handling such
challenges will be a testament to
the countrys maturity and growth.
There is much to do and there is
much to learn before Malaysia
achieves Vision 2020.
As Malaysias economy continues
to be tested, it is important to
leverage on domestic and foreign
policies, and embrace changes in
the global trade scene to create
new markets and more investment
opportunities, which in return, will
attract viable, long-term investors.

THE STAR, TUESDAY 28 JUNE 2016

12 invest malaysia

Fruits of
investment
By THERESA BELLE

MALAYSIA is recently placed fifth on the


Global Infrastructure Investment Index by
Acardis, a global design and consultancy
firm. This ranking shows that the
country is highly attractive in terms of
infrastructure investment, which is in line
with the Governments efforts towards
achieving Vision 2020.
Infrastructure upgrades such as the
Klang Valley mass rapid transit and

UMW Aerospace plant

Location: Serendah, Selangor

Edra solar power plant


Location: Kuala Ketil, Kedah

Seacera ceramic factory


Location: Kamunting, Perak

Pan-Borneo Highway, both of which are


set to be completed by 2020, are
anticipated to support and enhance
economic growth.
This prime investment climate has
already breathed life into several
multi-million-ringgit projects that will
boost national productivity and revenue.
Here are a few manufacturing projects
that are underway, according
to latest Malaysian Investment
Development Authority (Mida) updates.

Boston Scientific
medical device plant

Location: Batu Kawan, Penang


In line with Malaysias plan for
strengthening the aerospace industry
in the country, UMW Aerospace Sdn
Bhd signed a 25-year agreement with
the option for a five-year extension
with Rolls-Royce Plc last August to
manufacture and assemble fan cases
for Rolls-Royce Trent 1000 and Trent
7000 aero engines.
This deal positions UMW Aerospace
as the first Malaysian company to be
selected as a Rolls-Royce Tier 1
supplier, and UMW Holdings Bhd
announced in May that it had
allocated RM750mil for its aerospace
units capital expenditure over the
course of the next two and a half
years.
The manufacturing plant will be
built on a 30-acre (12ha) site and will
feature an adjacent pre-production
and technology department to explore
and develop manufacturing processes
and automation technologies.
On top of that, the deal will include
a manufacturing know-how and
technology-sharing programme
between Rolls-Royces engineering
team from the United Kingdom and
the local team.
This project will anchor UMWs
proposed Aerospace Hard Metal
Manufacturing Park in Serendah, and
the facility is expected to meet its first
purhase order next October. It will
deliver Trent 1000 fan cases, which
power aero engines in Boeing 787
Dreamliner aircrafts, to the RollsRoyce assembly facility in Singapore.

Solar energy is a form of


renewable energy that can be
feasibly harnessed in Malaysia,
which is why Edra Power
Holdings Sdn Bhd has faith
in the potential of its upcoming
RM400mil solar power plant in
Kedah.
The largest investment in
Kedah in several years will
transform 200 acres (80.9ha)
of agricultural land into an
industrial site, with the vast flat
land being highly suitable for
construction of a great solar
plant.
When it officially begins
operation, this plant could well
boost local industrialisation
while heeding the call for more
renewable energy sources in
the country.
Edra reports say the plant will
support the industrial park in
nearby Kulim and could be the
pioneering 50MWAC solar panel
farm in the country, setting an
example for others to follow.
This makes it an important
effort in minimising the nations
carbon emissions, which fulfils
the governments mix-fuel policy
by encouraging the use of coal,
gas and hydro energy sources.
Edra was recently acquired by
the China General Nuclear Power
Corp for RM9.83bil the largest
single foreign investment in
Malaysia to date.

Ceramic tile maker and


building materials supplier
Seacera Group Bhd is pumping in
RM170mil into building its new
factory in Perak, which it reports
should double the companys
production capacity to 12,000sq m
of tiles daily.
Seacera previously set aside
RM50mil to relocate its tile
manufacturing plant from
Selayang.
In collaboration with SME Bank
and Unit Peneraju Agenda
Bumiputera (Teraju), the
company secured a loan and
grant to facilitate this expansion.
The new plant will be
constructed on a 32.9-acre
(13.3ha) site in Kamunting
Industrial Estate and will be built
in three phases phase one is
expected to be completed this
September, phase two in June
2018 and the final phase in June
2020.
Upon completion of phase
three, the production capacity of
the factory is anticipated to
increase further to 24,000sq m
daily.
This location in the north was
chosen for ease of logistic
activities and obtaining raw
materials at a lower rate than in
the Klang Valley. The new plant is
set to create up to 150 jobs and
generate a targeted revenue in
excess of RM200mil per annum.

Boston Scientific, a global


developer, manufacturer and
marketer of medical devices, is in the
midst of setting up a manufacturing
base in Batu Kawan Industrial Park
involving investments totalling
hundreds of millions of ringgit.
The company is renowned for
manufacturing products and
technologies used in diagnosing and
managing various health conditions.
Construction began in April and
the company is looking to begin
equipping the space in the second
quarter of next year.
The entire project is anticipated to
be completed in the fourth quarter of
next year.
Upon completion, the facility will
be able to accommodate at least 10
years of growth in terms of new
products, additional volume and
enhanced capabilities.
This may include expansion in
research and development as well as
distribution.
The plant is anticipated to drive up
employment opportunities in Penang
the company is expecting more
than 400 employees at the site within
four years of operation.
This number has the potential to
grow alongside new innovations at
the facility.
Boston Scientific is confident of the
outlook of the medical device market
in Asia-Pacific, which is projected to
grow in line with evolving healthcare
systems and medical needs.