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South Korea’s Simmtech is Setting Up an RM508mil Factory in Penang

With the ongoing pandemic, the electrical and electronics (E&E) industry see a surge in opportunities. Korean semiconductor company, Simmtech Holdings Inc, is establishing its first plant in Malaysia here in Penang, with an investment of RM508 million. The project will create more high-value jobs in the coming years.

Simmtech Holdings Inc is Setting Up an RM508mil Plant in Penang:

Photo: Free Malaysia Today (Website)

The construction for the new 18-acre plant already started in Batu Kawan Industrial Park earlier this May. Simmtech Southeast Asia Managing Director Jeffery Chun said the company chose Penang due to its pristine E&E ecosystem and background. The facility in Penang will be the company’s first large-scale factory in Southeast Asia.

“Once in full swing, the production capacity in Penang will represent 20 percent of Simmtech Group’s current combined capacity in Korea, China, and Japan,” Chun said.

Despite the ongoing pandemic, the company does not foresee major delays. The construction of the new facility in Penang is set to complete early next year. Production, on the other hand, will start by mid-2022.

More Job Opportunities For Penang In The Coming Years

Photo: Malay Mail (Website)

It’s worth mentioning that Simmtech is the first major Korean investor from the semiconductor industry in the state. Penang Chief Minister Chow Kon Yeow said the investment will bring Penang’s industry to greater heights and further merge Penang into the global semiconductor supply chain.

Simmtech’s new facility, via its Malaysian subsidiary, Sustio Sdn Bhd, will generate 1,200 high-value jobs in engineering, manufacturing, and quality management within the first half of 2023.

Besides Simmtech, a few other global majors in the semiconductor value chain have announced new investments and expansions in Penang over the past two years.

“Notably, Penang’s E&E exports were valued at RM231 billion in 2020, which formed more than half of the country’s total,” Chow said.

Source: Malay Mail 

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