On the 29th of August 2022, it was announced by our Prime Minister, Dato’ Sri Ismail Sabri Yaakob at the 5th International Sustainable Energy Summit (“ISES”) organised by the Sustainable Energy Development Authority (“SEDA”), that Malaysia is expected to bolster its current arsenal of solar energy programmes by introducing the concept of Virtual Power Purchase Agreement (“VPPA”). This is a new procurement option of green electricity supply with a quota of 600MW.
This article wishes to explore the concept of VPPA generally practiced around the globe and the potential benefits which come with its introduction in Malaysia.
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Malaysia, Penang – Nov 1, 2022 – NI officially opened its newly-completed global supply chain distribution hub in Penang, Malaysia.
“This new building completion in Penang will play a critical role in strengthening NI’s global footprint – to serve as a global distribution center for its software-connected automated test and automated measurement systems,” says Selvam Chinappan, Managing Director of NI Malaysia.
“When fully operational, the facility will further enable NI’s growth for products related to Industry 4.0 Megatrend applications, including Internet of Things (IoT), 5th Generation (5G) and Automotive (Advanced Driver Assist Systems and Autonomous Driving) technology,” he added.
The statement was part of Selvam’s welcoming speech, made at the official opening ceremony of NI Malaysia’s new facility located in Bayan Lepas earlier today.
The ceremony was officiated by Yang Berbahagia Dato’ Seri Lee Kah Choon, Special Investment Advisor to the Chief Minister of Penang (on behalf of the Chief Minister of Penang), and witnessed by CEO of Malaysian Investment Development Authority (MIDA), Y.Bhg Datuk Wira Arham Abdul Rahman and NI’s Vice President of Manufacturing, Rajesh Purushothaman.
NI Penang’s new state-of-the-art wing is part of the broad-based expansion plan that NI had announced in November 2019, which includes USD40 million (RM166 million) in capital investment and the creation of 250 new jobs across across research and development (R&D), manufacturing, and sales capabilities.
The building adheres to the requirements of LEED (Leadership in Energy and Environmental Design) specifications, a globally-recognized standard for green building. Plans to install solar panels are being set in motion to help bolster the company’s progress towards the 2030 Corporate Impact Strategy.
With this newly-completed expansion which occupies 60,000 square foot on six acres of land for additional distribution, manufacturing and shared services office space, the Penang facility now spans a total of 23 acres of land.
The Chief Minister of Penang, YAB Chow Kon Yeow congratulated NI on the completion of its global supply chain distribution hub. “Celebrating the 50th anniversary of Penang’s industrialisation this year, I am particularly proud to witness the inflows of strategic investments from the existing investors, like NI, that have been here with us for the past decade. I’m confident that our continuously improving business ecosystem and infrastructure can cater to the needs of NI’s growth in Penang and Malaysia.” “The state, via InvestPenang and other relevant state machineries, is committed in providing unwavering support to the investors, while pledge to sustain a dynamic ecosystem equipped with the capacities and capabilities to support the needs of industrial players’ next generation technologies and growth strategies,” he added.
Commenting at the launch of NI’s new Global Supply Chain Distribution Hub, Datuk Wira Arham Abdul Rahman, CEO of the Malaysian Investment Development Authority (MIDA), said, “Looking ahead, we plan to push for even greater productivity and sustainability outcomes. We want to create higher-skilled jobs, that command higher wages, guided by the National Investment Aspirations (NIA). I believe NI’s project has all the intense qualities that the Malaysian Government is currently promoting. Besides, investors such as NI, have much to gain in capturing growth opportunities and extending their market access by establishing their operations in Malaysia. We look forward to this strategic partnership, to value its existence for mutually beneficial outcomes.”
NI Penang started operations in Penang since 2009. It is the company’s third largest operational site and houses one of the largest research and development centers outside of its headquarters in Austin, Texas.
Intel Malaysia has released their latest newsletter showcasing their CSR initiatives in the third quarter of 2022. This edition highlights the recent growths, community outreach and external engagements they have had during the quarter.
On 27 October, AMCHAM had Dr. Bridget Welsh, independent scholar and political analyst, over at the Executive Office to go over the recent developments in the Malaysian political landscape.
She spoke about the ongoing developments with elections just around the corner and what it means for Malaysia going forward. She also laid out what the potential results could be and the factors that contribute to the results. Attendees got to raise questions on what the results could mean for businesses in Malaysia, potential policy changes and more.
Thank you to Dr. Bridget Welsh for the very insightful discussions on Malaysia’s changing political landscape.
AMCHAM invited Jose Raul Perales, Deputy Director, Global Alliance for Trade Facilitation of Center for International Private Enterprise (CIPE ) to speak about the complexities of trade facilitation in today’s world.
As trade becomes more complex, it is even more imperative to understand how trade agreements, bilateral and multilateral, operate in order to maximize the benefits and drive growth and value into local economies. Jose went into detail on trade facilitation and contemporary challenges in global trade as well as Global Alliance For Trade Facilitation functions.
Special thanks to Jose for making this event a success. We look forward to hosting you again!
