GEORGE TOWN - Years after resisting pressure to move to China, Mr Lee Hung Lung says his bet has paid off. Sales at his Malaysia-based Hotayi Electronic are surging, it is hiring more workers, considering an expansion, and picking and choosing orders.
Its two industrial zones have the advantage of a long-established ecosystem of suppliers and customers in one place and cheaper labour than regional rival Singapore. The two zones are connected by a 24km bridge over the Malacca Strait. "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."
Penang shot to the limelight in 1972 when Intel built its first international manufacturing plant there. Intel was followed by many other big US names such as Broadcom, Dell and Motorola. Micron this year pledged to invest RM1.5 billion in Malaysia over the next five years. Hotayi, which spent RM1 billion to build its new facility, could spend another RM1 billion in the next one or two years to expand production, managing director Goh Guek Eng said.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Influential group in India launches nationwide protest against RCEP free trade pactNEW DELHI - Influential voices close to the Indian government have intensified their opposition to India's entry into the proposed Regional Comprehensive Economic Partnership (RCEP) deal, as negotiations among the 16 trading partners enter the final lap.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
In Chongqing, the world’s most surveilled city, residents are happy to trade privacy for security
Source: TODAYonline - 🏆 1. / 99 Read more »
Partial US-China trade deal only 'baby step' as thorny issues remainA partial US-China deal may only offer a temporary tariff reprieve because it lacks specifics and leaves the thorny issues for later, analysts ... The article says Trump is engulfed in an impeachment. No, he is not for the simple fact that the impeachment is based on nothing, no evidence.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
US outlines 'Phase 1' trade deal with China, suspends October tariff hike[WASHINGTON] US President Donald Trump on Friday outlined the first phase of a deal to end a trade war with China and suspended a threatened tariff hike, but officials on both sides said much more work needed to be done before an accord could be agreed. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Malaysia to study impact of India's planned trade action after Mahathir's Kashmir commentsMalaysia's Prime Minister Mahathir Mohamad said his government will monitor the trade situation with India, which is reported to be considering ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Asia shares cheered by US-China trade progressSYDNEY (REUTERS) - Asian share markets pushed higher on Monday (Oct 14) as signs of progress in the US-China trade standoff whetted risk appetites, while pressuring safe-haven bonds and the yen.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »