Business

Home > = Business > News =

News=20
Market Watch=20
Bursa=20 Malaysia=20
My=20 Portfolio=20
Exchange = Rates=20
Unit = Trusts=20
Market Intelligence
IPO=20 Watch=20
Company = Ratings=20
Bonus & = Dividends=20
Financial=20 Results=20
Share = Buybacks=20
Changes in = Shareholdings
Currency=20 Converter
Investor Relations=20
Maritime =

=20

Tuesday February 2, 2010

Five tech companies to invest RM1.3bil this = year

By DAVID TAN

davidtan@thestar.com.my

GEORGE TOWN: One foreign and four local companies involved in the = technology=20 and electronics sector are investing a total of RM1.375bil to expand = their=20 operations in the northern region this year.

Among the multinationals, First Solar Inc, a US solar panel (known = also as=20 photovoltaic panels) manufacturing company based in Kulim Hi-Tech Park = (KHTP),=20 is investing RM1.24bil to add eight production lines for its RM2bil = facility and=20 hiring over 1,000 workers to support that expansion.

Local companies on an expansion drive include chip manufacturer = Globetronics=20 Technology Bhd, hard-disk drive (HDD) component manufacturer Eng = Teknologi=20 Holdings Bhd, electronics manufacturing services provider P.I.E. = Industrial Bhd=20 and Ire-Tex Corp Bhd, a packaging material specialist serving the solar = power,=20 automotive, and aerospace industries.

First Solar=92s manufacturing plant = in Kulim=20 Hi-Tech Park, Kedah.

Globetronics is reinvesting RM60mil (compared with RM28mil last year) = for its=20 chip making business in Penang, while Eng Teknologi is spending about = RM40mil=20 (RM15mil last year) to expand its HDD component manufacturing business = in=20 Thailand and Malaysia.

P.I.E. is allocating RM30mil to acquire a new manufacturing facility = and=20 equipment, while Ire-Tex recently spent RM5mil to increase its output of = packaging materials for solar panels to serve a major US solar power=20 customer.

In a briefing for investors and analysts posted on First Solar=92s = website,=20 First Solar chief executive officer Robert J. Gillette said the = expansion=20 exercise was to satisfy a global contract and advanced pipeline of over = six=20 gigawatts from 2010-2012.

The new production lines for the KHTP facility are scheduled to = commence=20 operations in the first half of 2011, according to Gillette. The = 1,000-plus=20 workforce First Solar is recruiting this year comprises engineers, = technicians,=20 and operators.

Its KHTP facility currently has a headcount of over 2,000. Other US=20 multinational corporations in Penang are also recruiting manpower to = meet rising=20 demand from their customers.

Seagate is increasing its headcount at its facility in Bayan Lepas in = view of=20 a strong forecast for the performance of its HDD business in 2010.

=93We are presently engaging manpower such as technicians, engineers, = and=20 operators,=94 Penang vice-president Oh Kean Cheong said. He declined to = disclose=20 the number of personnel Seagate would employ.

Seagate Penang presently engaged 3,200 workers in Bayan Lepas and = another=20 1,800 at its Johor facility.

An industry source said Motorola Malaysia, to meet rising orders, was = now=20 recruiting 100 engineers and technicians in the first quarter this year = for its=20 Penang facility.

Intel, the world=92s largest chipmaker, is still recruiting talent = for its=20 facility in Penang and Kulim, which has a combined headcount of about = 10,000,=20 according to Intel Malaysia corporate affairs manager Loo Cheng Cheng.=20

For latest=20 Bursa Malaysia indices, charts and other information click = here

=20 More News =20

=20

Most Viewed
Most E-mailed

AirAsia=20 X temporarily suspends Abu Dhabi flights=20
Shamsul=20 seen as frontrunner for Petronas CEO post=20
Helicopters=20 that can see and fly on their own?=20
Gradual=20 economic recovery seen for M'sia=20
Honda=20 M=92sia says it=92ll call for =91product update=92 on two models=20
Oil=20 price higher on Nigerian attacks, cold weather in US=20
Five=20 tech companies to invest RM1.3bil this year=20
Takeover=20 offer for Tai Kwong=20
US=20 stocks up as manufacturing, spending increase=20
Lack=20 of Malaysian institutional interest in China IPOs

Miti=20 looks to India and China for FDI=20
Lack=20 of Malaysian institutional interest in China IPOs=20
Helicopters=20 that can see and fly on their own?=20
Wilmar=20 shelves listing of China ops on HKEX=20
US=20 deficit to hit record US$1.56tril in 2010=20
Oil=20 price higher on Nigerian attacks, cold weather in US=20
US=20 stocks up as manufacturing, spending increase=20
Rio=20 Tinto said Tue it sold Alcan divisions to Amcor for US$2bil=20
US=20 TV Super Bowl ads sold out=20
Factory=20 activity fueling modest US economic recovery

Business Links

Latest Jobs from=20 Star-Jobs

Busin= ess=20 Administrative Executive=20
Sales= =20 & Marketing Executive=20
Junio= r=20 Graphic Designer=20
Sales= =20 Consultant=20
Accou= nts=20 Assistant

Accou= nts=20 Clerk=20
Gener= al=20 Clerk=20
Appli= cation=20 & Sales Engineer=20
Data = Entry Clerk=20
Sales= =20 Engineer

Latest from = StarProperty

Ask=20 Azizi: Rental rate dilemma
Crouch= ing=20 Dragon Hidden Turtle: A study of land form
Malls=20 dressed up to welcome the Year of the Tiger
Traffic=20 nightmare continues
Good=20 news: RM37.6m to spruce up low-cost flats

Site Map FAQ Privacy Statement = Terms Of Use Write To Us Advertise With = Us

= RSS=20