The trade war between the United States and the People’s Republic of China has resulted in the Southeast Asian region including the state of Penang in Malaysia having the potential to attract universal foreign direct investment (FDI).
Penang Chief Minister Tuan Chow Kon Yeow said that Penang, nicknamed the ‘Silicone Valley of the East’, is one of the states of prime investment choice. Accordingly, he said he hopes that Blue Chip Venture Capital (BCVC) as an investment capital firm can play its essential role in bringing potential investors to invest in the state.
“Blue Chip Venture Capital is a fund company made up of experienced individuals in the (semiconductor) sector, and they are looking at opportunities to invest on their own or collaborate with capital firms from other countries.
“As a joint venture company that does invest in certain companies, it can actually bring the company they invest in to Malaysia.
“Like Blue Chip Venture Capital (BCVC) has made attractive investments in several companies, among which the three companies are starting the process to finalise their plans to invest.
“We (the State Government) hope that this will generate the confidence of the investment companies to invest in Penang,”
Currently BCVC is still in the process of making mandatory investment decisions such as looking at the form of investment incentives offered by the Federal agency, the Malaysian Investment Development Authority (MIDA) to invest in the country including Penang.
Director of BCVC Nelson Koay said BCVC’s capital investment was in China Wafer Level CSP Co. (WLCSP), Ningbo SJ Electronic Co. (SJE) and Wuxi AMTE Inc. (AMTE). According to him, the three semiconductor-related companies based in the People’s Republic of China are in the process of finalizing their investments in this country, including Penang.
“The investment value if these three semiconductor companies are combined is about 100 million United States Dollars (USD),” he said.
Nelson Koay added, not only will there be a transfer of new technology related to the semiconductor sector to the state, but it will also create about 300 to 400 new quality career opportunities if Penang is chosen as their investment destination.
