GEORGE TOWN: Chief Minister Chow Kon Yeow today announced the intention of three new semiconductor companies to invest in Penang.

The three are China Wafer Level CSP Co (WLCSP), Ningbo SJ Electronics Co (SJE) and Wuxi AMTE Inc (AMTE).

Together, the three companies are expected to invest a total of USD$100 million, according to Blue Chip Venture Capital (BCVC), which played a pivotal role in attracting these strategic investments to the state.

Chow said the three companies are set to bolster Penang's growing IC (Integrated Circuit) design and advanced packaging ecosystem.

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"Penang is indeed proud to be the chosen location for these three semiconductor businesses, which also signifies the confidence that foreign investors have placed in Penang.

"The landing of these three semiconductor companies is expected to create new and exciting opportunities for the local suppliers.

"This strategic move will further develop a robust and efficient supply chain ecosystem," he told newsmen at the Ascott Hotel Gurney here today.

Chow's announcement came on the heel of his predecessor, Lim Guan Eng, asking him to explain how the state lost a multi-million ringgit IC design project to Selangor.