Penang: 3REN Bhd’s subsidiary, Sophic Automation Sdn Bhd, has entered into an agreement with Invest-In-Penang Bhd (InvestPenang) to receive an incentive package designed to boost its integrated circuit (IC) design and development capabilities. This move aims to transform its innovative ideas into IC products.

According to BERNAMA News Agency, the automation solutions and engineering services provider announced that this agreement solidifies the partnership between the two entities. This follows the memorandum of understanding signed in December 2024, focusing on the Penang Silicon Design @5km+ (PSD@5km+) initiative.

The incentive package provided to 3REN encompasses monetary subsidies, grants, or payments for facilities and services offered by stakeholders under the agreement. These incentives will be available for a period of three years, until May 2028. The company plans to strategically leverage these incentives to drive innovation within Malaysia’s semiconductor and IC design and development ecosystem.

Executive director and CEO Koh Dim Kuan highlighted the initiative’s potential for collaboration with local fabless IC design firms, electronic design automation tool providers, and academic institutions. It also enhances access to advanced IC design and development technologies. Koh expressed pride in solidifying the partnership with InvestPenang through the PSD@5km+ initiative, underscoring the company’s commitment to advancing up the semiconductor value chain and nurturing future talent.

The PSD@5km+ initiative was launched by Prime Minister Datuk Seri Anwar Ibrahim on December 7 of the previous year, with an allocated budget of RM50 million. Spearheaded by the Penang government through InvestPenang, the initiative seeks to revolutionize Malaysia’s semiconductor industry in alignment with the National Semiconductor Strategy.