Johor bahru: China-based high-technology semiconductor company Ferrotec’s RM550 million investment in Pasir Gudang, Johor, through subsidiary Ferrotec Power Semiconductor Malaysia Sdn Bhd has been realised and is expected to record an annual export value of RM600 million. Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz said this mega investment not only strengthens Malaysia’s standing in high-technology component manufacturing but has also created 396 new job opportunities that can benefit the locals.

According to BERNAMA News Agency, Tengku Zafrul highlighted that Ferrotec is collaborating with 35 local vendors in its supply chain, which will, in turn, boost the local small and medium enterprise ecosystem. This partnership is seen as a significant step towards enhancing local business capabilities and fostering economic growth in the region.

Tengku Zafrul also noted that the realised investment serves as evidence that each effort made by the MADANI government marks the beginning of transformative investments. These investments are projected to significantly impact the nation’s economic and technological landscapes, further solidifying Malaysia’s position as a leader in the high-technology manufacturing sector.