PENANG, Malaysia - Tech firms at Malaysia's one-time Silicon Valley of the East, swimming in orders from customers fleeing trade war-hit China, have seen fortunes turn again in the space of just a year as the coronavirus outbreak cuts them off from Chinese suppliers.
"Even if you source from another country, the other country also depends on China," said Pentamaster Executive Chairman Chuah Choon Bin. While Penang firms saw record sales last year from customers seeking to curb reliance on China and escape U.S. tariffs, they themselves relied on China for as much as 60% of components and materials with the rest coming from Europe or elsewhere in Asia.
Its sales soared 40% last year. Goh said its 20% target this year could be at risk due to the supply issues, which could turn critical in one to two months' time and badly hit production. Semiconductor company Inari Amertron Bhd , whose radio frequency components are used in smartphones including Apple's iPhones, might have a weak second half after the U.S. firm flagged slowing production and demand in China, Malaysia's AmInvestment Bank said.
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