Penang Chief Minister Chow Kon Yeow recently disclosed that three emerging semiconductor enterprises from China are eyeing investments totaling USD100 million (RM476 million) in the region. These companies, namely China Wafer Level CSP Co, Ningbo SJ Electronics Co, and Wuxi AMTE Inc., are on the brink of solidifying their commitment to Penang's burgeoning integrated circuit (IC) design and advanced packaging landscape. This significant investment wave was made possible through the facilitation of the newly established Malaysian venture capital firm, Blue Chip Venture Capital (BCVC), which has been instrumental in attracting such strategic investments to the state.

Chow emphasized during a press briefing in George Town, Penang, that this influx of semiconductor entities not only reinforces Penang's position as an attractive investment destination but also underscores foreign investors' confidence in the region. The move is poised to generate fresh opportunities for local suppliers and foster a resilient supply chain ecosystem.

The announcement comes in response to queries raised by Chow's predecessor, Lim Guan Eng, regarding Penang's loss of a high-value IC design project to Selangor. Despite this setback, Chow underscored the wealth of IC-related expertise and activity in Penang, highlighting the numerous local companies possessing IC design capabilities.

Chow further revealed that the three prospective investors are in the final stages of solidifying their investment plans, a process expected to conclude within the next few months. Additionally, BCVC's co-founder and CEO, Tim Chen, disclosed that an additional 15 companies are contemplating investments in Penang, marking yet another milestone in the region's semiconductor industry and potentially creating hundreds of job opportunities.