Lee is the founder and CEO of Hotayi, whose two factories manufacture and assemble circuit boards and other electronics products. The plants are located in Penang, once called the “Silicon Valley of the East” for its massive 47-year-old electrical and electronics industry before it lost its shine to China.
An employee of the automated test equipment designer and solutions provider Aemulus Holdings Berhad inspects a printed circuit board at a production facility in Penang. - Reuters “I instead decided to go for more smart, which means more investment on IT, software. Today Hotayi is becoming more, more and more big,” he said. “Because of the trade war, customers are transferring their complete production lines from China.”Foreign direct investments into Penang leaped 11 fold to about US$2 billion in the first half of this year - much more than it has attracted in any other full year.
“Penang became more of a sleepy town after that,” said Geoffrey Ng, director of strategic investments at Malaysian asset management firm Fortress Capital.
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