US firm makes additional RM2b investment in Penang plant

International Trade and Industry Minister Datuk Seri Mustapa Mohamed speaks to journalists at the Asean Economic Ministers retreat in Kota Baru, March 1, 2015. — Reuters pic
International Trade and Industry Minister Datuk Seri Mustapa Mohamed speaks to journalists at the Asean Economic Ministers retreat in Kota Baru, March 1, 2015. — Reuters pic

SAN FRANCISCO, Feb 19 — P Linear Technology Corporation, a US-company, has invested an additional RM2 billion in its Penang plant, said International Trade and Industry Minister, Datuk Seri Mustapa Mohamed.

An advanced integrated circuit manufacturer, Linear Technology, owns Linear Semiconductor Sdn Bhd.

This is a big success for the Malaysian business ecosystem, he told Malaysian journalists here yesterday.

“It is a great recognition for Malaysia as the Silicon Valley of the East,” he said.

However, he did not furnish further details of the additional investment put up by the American IT company.

Mustapa was here to attend the US-ASEAN Summit in Sunnylands on Monday and Tuesday, the ASEAN Economic Ministers Roadshow organised by the United States government on Wednesday and yesterday, as well as a business seminar at San Jose in Silicon Valley today.

He said American companies saw ASEAN as having great potential with the establishment of the ASEAN Economic Community, a truly single market and production base with freer movement of goods and services.

The ASEAN Economic Ministers Roadshow, among others, was to promote the region as an attractive investment destination for American companies, especially those in the innovation and creativity sectors.

Economic ministers from ASEAN's 10-member states, namely Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam, attended the roadshow which also showcased American technologies and innovation. 

Mustapa will meet 100 American corporate leaders during the business seminar. — Bernama

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