SAMSUNG in PENANG?
Will SAMSUNG be coming to PENANG? Bringing in RM 3.5 billion investment. Currently the deal is hanging in a balance, with the issues of rising electricity tariff and question of who should bear the cost to build factory power station. Other than PENANG, SAMSUNG is considering Philippines, Vietnam etc. Currently the more likelier destination is Philippines, well I sincerely hope SAMSUNG will come to MALAYSIA, setting up 2nd factory after the 1st one in SEREMBAN. Vietnam is less likely now. Vietnam is not an ideal destination now with its inflation at 26% high, Singapore is at 7~8% while Malaysia should rise from 3.8% to 7% in June due to petrol price hike.
Other than SAMSUNG, Honeywell of US (Aerospace, defence and engineering) and IBIDEN corp. of JAPAN had already agreed to invest in PENANG. Honeywell invested RM100 million and IBIDEN RM1.2 billion, none of them as large as the scale of SAMSUNG investment. Honeywell investment is a little bit controversial as it is involved in military defence contract, nevertheless from business perspective, it is good news for PENANG.
When will JOHOR, SELANGOR, PERAK, SABAH, SARAWAK etc. be the next ideal destination for foreign investment, definitely not in the near future with the lack of infrastructure investment and human capital.
