Proving that Penang is an attractive investment hub, China’s StarFive Technology will invest RM250 million over five years here.
On hand was Penang Chief Minister Chow Kon Yeow to witness the announcement ceremony at the E&O Hotel recently.
The company will expand its research and development (R&D) department at StarFive Technology Malaysia based in GBS@Mayang.
Also present was StarFive Technology Malaysia vice-president and general manager Ong Chin Hu.
Penang is known as the Silicon Valley of the East. Penang and Malaysia have the most concentrated integrated circuit (IC) design and software development engineers in Southeast Asia.
Meanwhile, Chow congratulated StarFive Technology Malaysia for its plan to expand in Penang over the next five years.
Also present was the Chinese Consul General in Penang Lu Shiwei.