Bridging the World: MATRADE And IPC Partnered for Successful Back-To-Back Events in Penang and Bengaluru
KUALA LUMPUR, AUGUST 20 (TUESDAY) - MATRADE and IPC had successfully coordinated Malaysian companies’ participation in the B2B meeting in-conjunction with the Integrated Electronics & Manufacturing Interconnections (IEMI) 2024 co-located at the Electronics Manufacturing Expo (EMAX) 2024 in Setia Spice Convention Centre, Penang from 24-25 July.
Over 200 business matchings arranged between Malaysian exporters and 29 foreign buyers from Singapore, Vietnam, The Philippines, Australia, Hong Kong, Japan, Spain, South Africa, Egypt and India. Products and services with export potential include machinery and equipment for semiconductor, precision parts and components, printed circuit board (PCB), system integration for factory automation, cable and wire harness, and electronic manufacturing services (EMS).
IEMI 2024 provided an effective avenue for local industry players to establish business networks with international counterparts, as well as keeping abreast of the current trends and latest technology of the semiconductor industry. Over 300 participants attended the panel sessions conducted by IPC representatives sharing on key micro trends namely AI, IoT, XR, 3D printing and 5G/6G that will define the future of electronics industry. Panel discussions among the experts from ASEAN, India, Australia and Egypt delved deeper into the current challenges faced by the industry by forging greater collaboration among the stakeholders to building industrial ecosystem for resilient supply chain.
To keep the momentum going, IPC and MATRADE coordinated one-on-one meetings and pitching sessions with foreign partners to venture new export opportunities at IEMI 2024 in Bengaluru from 29-30 July. The global players in the semiconductor and electronics manufacturing industry have shown keen interest to work with Malaysian companies to expand their supplier base. Bustling with productive meetings, the Malaysia Pavilion showcased diverse competencies of six (6) Malaysian exporters from cleaning process solutions, metal finishing & advanced packaging applications, metalworking & plastic injections moulding, electronics manufacturing, to parts and components for machineries. Of RM12.88 million total export sales recorded, RM5.71 million sales realised for sourcing of metal recycling and e-waste management services. MATRADE partnership with IPC this year is indeed timely, for Malaysia to initially tap into India semiconductor market that is expected to grow to USD79 billion in 2031.
“As the Prime Partner for these events, MATRADE is working closely with international industry stakeholders such as IPC to unlock new export opportunities for the Malaysian companies specifically in key growth areas namely IC design, advanced chip packaging and equipment manufacturing. Through this initiative, Malaysian exporters are being exposed to the latest technologies and best business practices. This also strengthens the objectives of the New Industrial Master Plan (NIMP) 2030 and National Semiconductor Strategy (NSS),” said Ybhg. Datuk Mohd Mustafa Abdul Aziz, CEO of MATRADE.
Mr. Gaurab Majumdar, Executive Director of IPC-India applauded MATRADE’s invaluable support for IPC-IEMI global events held in Penang, Malaysia and Bengaluru, India. “The collaboration was instrumental in showcasing Malaysia's vibrant SME export opportunities, especially through the Malaysia Pavilion in IEMI India event. The Pavilion not only highlighted the country's dynamic electronics industry but also fostered stronger trade relations between Malaysia and India. We look forward to continuing this fruitful partnership and further strengthening the economic ties between nations.”
Anticipating robust growth and strong recovery in 2024, the World Semiconductor Trade Statistics (WSTS) forecasts a 12.5 percent growth in the global semiconductor market, reaching an estimated valuation of US$687 billion in 2025. This growth is expected to be driven primarily by the memory and logic sectors. In January to July 2024, Malaysia’s E&E exports were RM333.42 billion, with semiconductor exports stood at RM213.12 billion. In July 2024 alone, Malaysia’s semiconductor exports valued at RM51.78 billion. Malaysia contributes 7% of global semiconductor trade and 13% of global semiconductor testing and packaging.
