Solar manufacturer Maxeon to exit Melaka, puts 126-acre industrial site up for bids

KUALA LUMPUR, April 29 — A major China-linked solar manufacturer has put up for sale a 126-acre industrial site in Melaka — home to one of the state’s largest solar panel plants — as it exits Malaysia to focus solely on the US market.

The site, which includes a manufacturing plant, is the largest tract in the industrial and commercial hub and lies approximately 17km from the Melaka International Airport, The Edge reported,

Maxeon, a Singapore-based company formerly known as SunPower Malaysia Manufacturing Sdn Bhd, designs and manufactures solar products and solutions globally.

The land is listed on Invest Melaka’s website under Maxeon Solar Technologies (Sunpower) Sdn Bhd, and is advertised for sale by exclusive marketing agent Savills Malaysia.

Savills group managing director Datuk Paul Khong confirmed the listing but declined to reveal the landowner, citing the site’s existing utilities and 800,000 sq ft built-up factory as a strong “plug and play” opportunity.

Khong added that the property could attract interest from data centre operators and foreign manufacturers looking to relocate due to ongoing US tariff tensions with China and Vietnam.

He highlighted Malaysia’s relatively low 24 per cent US tariff rate — compared to Vietnam’s 48 per cent — as an added advantage for potential investors eyeing industrial expansion.

A local agent told The Edge that industrial land in the area previously transacted between RM20 and RM26 per square foot, with some deals going as high as RM40 psf in recent years.

The area already hosts major industrial players such as Honda Assembly, United Detergent Industries, Yihin Glass and Aluminium, Chestronics and Erreppi Manufacturing.

Maxeon has not confirmed the sale but maintains operations in over 100 countries, with its Melaka plant having produced advanced solar cells since July 2011.

The move comes after Maxeon announced in early April that it would focus solely on the US market following a strategic business restructuring.

Last year, Maxeon sold its global sales and marketing operations to its parent firm, China’s TCL Group, and plans to transfer its Philippine manufacturing site to a new entity called TCL SunPower International.

Last week, the US announced increased tariffs on solar import from four countries including Malaysia, which now faces a blanket import duty of at least 34.4 per cent.