NAGOYA: THE
flow of Japanese reinvestments into the Northern Corridor Economic Region
(NCER) this year is expected to continue, notably in the manufacturing and
agriculture sectors.
Northern Corridor Implementation Authority chief executive Datuk Redza Rafiq yesterday said the authority is currently in negotiations with a Japanese technology provider to ramp up its capability in agriculture, via high-value crops.
"The agriculture-related investor who last year invested RM35 million in both Kedah and Penang is likely to plough in more investments into the cultivation and export of crops like chillies, rock melons and Japanese pumpkins," he told Malaysian reporters during a visit to the headquarters of Science net Co Ltd.
Science net's subsidiary, Useful Person Co Ltd, this year entered into a joint-venture agreement with Penang-based Global Outreach Energy Sdn Bhd (GOE) to design, manufacture and ship light emitting diodes (LEDs) and other environment-friendly products.
Northern Corridor Implementation Authority chief executive Datuk Redza Rafiq yesterday said the authority is currently in negotiations with a Japanese technology provider to ramp up its capability in agriculture, via high-value crops.
"The agriculture-related investor who last year invested RM35 million in both Kedah and Penang is likely to plough in more investments into the cultivation and export of crops like chillies, rock melons and Japanese pumpkins," he told Malaysian reporters during a visit to the headquarters of Science net Co Ltd.
Science net's subsidiary, Useful Person Co Ltd, this year entered into a joint-venture agreement with Penang-based Global Outreach Energy Sdn Bhd (GOE) to design, manufacture and ship light emitting diodes (LEDs) and other environment-friendly products.
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Present were Science Net's President Takashi Fukai, GOE's
Chairman Ooi Yoong Hwa and director Lim Teik Hoe.
Redza said the agriculture-based company, which has
established green houses in Ara Kuda in Penang
and Bukit Kura in Kedah respectively, has the potential to generate lucrative
income to locals wanting to venture into this form of farming.
He did not divulge any details of the potential reinvestment except to say that it would be "bigger than the initial investment" last year.
The NCER which encompasses the four states of Perlis, Kedah, Penang and Perak welcomed Japanese investments last year totaling RM235 million.
In the manufacturing sector this year, solid orders for LED lighting from Japanese partner Science net for the past three months is expected to see GOE ramp up its operations soon.
Lim said the company has earmarked RM107 million over the next five years to acquire an existing factory on mainland Penang and to expand its research and development capabilities.
He did not divulge any details of the potential reinvestment except to say that it would be "bigger than the initial investment" last year.
The NCER which encompasses the four states of Perlis, Kedah, Penang and Perak welcomed Japanese investments last year totaling RM235 million.
In the manufacturing sector this year, solid orders for LED lighting from Japanese partner Science net for the past three months is expected to see GOE ramp up its operations soon.
Lim said the company has earmarked RM107 million over the next five years to acquire an existing factory on mainland Penang and to expand its research and development capabilities.
“We are now operating from a 8,000 sq. ft. factory space on Penang island and will need some 20,000 to 30,000 sq. ft.
to cater to the increased production output and an enlarged export market for
Science net," he added, saying that the company is looking for a strategic
partner.
Lim said Science net had been initially using China as its sole base to manufacture and export the LED products to Japan.
"However, they found Malaysia to offer competitive pricing for their exports and are now looking to expand into new markets such as the Philippines, India and Thailand," he added.
Lim said Science net had been initially using China as its sole base to manufacture and export the LED products to Japan.
"However, they found Malaysia to offer competitive pricing for their exports and are now looking to expand into new markets such as the Philippines, India and Thailand," he added.
Source: Marina Emmanuel - Business Times (22/05/2012)
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