Samsung to announce ‘high-value re-investment’ plan for Malaysia
Business Times reports that Samsung will soon announce a major ‘high-value reinvestment’ in Malaysia, probably when South Korean President Lee Myung-Bak pays a visit to Kuala Lumpur next month.
The re-investment is expected to concern LED production, re-purposing Samsung’s current facility at Seremban that produced cathode ray tube (CRT) displays for computers and TVs. That technology is now largely obsolete as more efficient flat-panel displays dominate the world’s desktops and living rooms. Although no details were released regarding the new facility, all staff are expected to be re-hired after the change.
Malaysian Deputy Prime Minister Muhyiddin Yassin visited Seoul in July 2010 and was reportedly briefed on Samsung’s plans for Malaysia over the next five years, which included an interest in solar energy, LED, defence equipment and shipping production. A proposed Samsung memory chip facility proposed to open 2011 in Penang, however, seems to have stalled with no visible progress made as of December 2010.
source & article: Business Times
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