MATRADE Leads Participation of Malaysian Companies to SEMICON WEST 2014
MONDAY, JULY 7, 2014, KUALA LUMPUR: The Malaysia External Trade Development Corporation (MATRADE) will facilitate the 10 participation of Malaysian companies in the SEMICON West 2014 from 8 – 10 July. The event will be held in the Moscone Centre, San Francisco, USA and this year would be the sixth participation by MATRADE in the SEMICON West.
The objectives of the participation in SEMICON West 2014 is to promote and expand business opportunities for Malaysia’s semiconductor products & services in the US market and also to engage with international buyers from the USA and neighboring countries. The Malaysian participants for this mission are offering various specialised products and services including testing & automation machines, design & assembly, OEM contract manufacturing services, precision tooling and fabrication of parts & components, and clean room gloves.
MATRADE has also scheduled one-to-one business meetings between the Malaysian exhibitors and US buyers to generated business opportunities for companies. Ms. Lai Siaw Ling, Executive Director of LD Micro Precision Sdn Bhd who will be participating in the SMM is looking forward for successful business partnerships with foreign companies. She hopes through this year’s participation in SEMICON West, her company is able to generate sales of USD$3 – 5 million over the next 2-3 years.
According to MATRADE, total electrical & electronics (E&E) exports to the USA for January to April 2014 increased by 9.1 per cent to RM11.16 billion compared to the same period in 2013. In 2013, total E&E export to the USA was RM32.75 billion, 56.4 per cent share of Malaysia’s total export.
The Malaysian Investment Development Authority (MIDA) stated that, “The increase in the E&E exports to the US is in tandem with the increase in investments in the E&E sector in Malaysia. MIDA has approved a total of 118 E&E projects with investments of RM9.82 billion in 2013, 176% increase from the total investments of RM3.99 billion recorded in 2012. Foreign investments accounted for 86.7% of the total approved investments in the industry, mainly from the USA and Singapore. More E&E companies operating in Malaysia are undertaking global R&D and D&D functions within the industry. This, as reflected in the recent investment approvals, will widen the industry value chain and pave the way for the transfer of technology from parent companies to local workforce." Malaysia has tremendous potential and opportunity in the E&E sector due to its strong base especially in semiconductors. The SEMICON West 2014 is a good platform for Malaysia to showcase Malaysia’s potential as a strategic base for US companies wanting to be part of the Asian growth that is underway.
