PENANG: Years after resisting pressure to move to China, Lee Hung Lung says his bet has paid off. Sales at his Malaysia-based Hotayi Electronic are surging, it's hiring more workers, considering an expansion, and picking and choosing orders.
But its two industrial zones have the advantage of a long-established ecosystem of suppliers and customers in one place and cheaper labor than regional rival Singapore. The two zones are connected by a 24km bridge over the Malacca Strait.The other factor going for Penang is that many semiconductor and other electronics products from Malaysia do not attract US tariffs, unlike the 25 per cent rate for China.
In its federal budget for next year presented on Friday, Malaysia said it would provide tax incentives to further promote high value-added activities in its E&E industry. But investments largely stayed flat for more than a decade starting 2005, government data shows, as China lured away companies. Intel opened a factory in the Chinese city of Chengdu the same year, prompting some Malaysian suppliers to move as well.
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