American chip giant Intel Corporation will pump 30 billion ringgit ($7.10 billion) into a new, state-of-the-art facility in Malaysia, the country’s authorities announced on Monday.
The Malaysian Investment Development Authority, at a special media event, revealed that the Intel Corporation had chosen Malaysia to expand manufacturing capabilities for its advanced semiconductor packaging technologies in the northern state of Penang.
Malaysia’s chip assembly industry accounts for more than a tenth of global trade worth over $20 billion. Taiwan is the biggest provider with more than 50% of market share, followed by China, the United States and then Malaysia.
- Reuters with additional editing by Sean O’Meara