NEW YORK, Sept 20 ― Two major United States (US) electrical and electronic firms are set to expand their operations to Malaysia, one of which is expected to invest at least...
NEW YORK, Sept 20 ― Two major United States electrical and electronic firms are set to expand their operations to Malaysia, one of which is expected to invest at least RM500 million.
“Another company, which I am not able to name for the moment, will be investing a significant sum in Penang. Both Alton Group and this company have operations in China and they want to expand to Malaysia,” he told a press conference here. “These companies want to diversify their supply chain, and they are also looking to bring in their suppliers into Malaysia, thus firmly establishing Malaysia as a global technology and innovation hub,” the minister said.
The company has been sourcing home furniture from Malaysia since 2000, with total imports amounting to approximately RM840 million to-date. Malaysia was the US’ sixth largest source of imported furniture in 2022, accounting for 2.78 per cent of the US’ total furniture and bedding import value, he said.
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