KUALA LUMPUR (Dec 9): Globetronics Technology Bhd (KL:GTRONIC) said the group is exploring a potential collaboration with Invest-in-Penang Bhd (InvestPenang) for the Penang Silicon Design @5km+ (PSD@5km+) initiative.
In a statement on Monday, Globetronics said its wholly owned subsidiary, Globetronics Manufacturing Sdn Bhd (GMSB), has signed a memorandum of understanding (MOU) with InvestPenang to facilitate discussions aimed at advancing Penang’s position as a global semiconductor innovation hub.
The collaboration will encompass various areas, including support for chip design houses in package design, process development, assembly test engineering, sample builds, and qualification builds, said the group.
The PSD@5km+ initiative, spearheaded by the Penang state government, is a strategic programme designed to strengthen the semiconductor and integrated circuit (IC) design ecosystem. Key components of this initiative include the establishment of the Penang IC Design & Digital Park, the Penang Chip Design Academy, and the Silicon Research & Incubation Space.
Under the MOU, Globetronics will serve as an outsourced semiconductor assembly and test (OSAT) provider, while InvestPenang will coordinate stakeholders and align efforts with the initiative’s objectives.
InvestPenang, a non-profit entity of the Penang state government, will also leverage its governance framework and resources to attract investments, create job opportunities, and nurture a strong talent pipeline in the semiconductor industry.
Penang Chief Minister Chow Kon Yeow previously said that the initiative is projected to attract investments worth RM120 million over the next five years, with the state government allocating RM60 million to support the programme.
Currently, 28 local and foreign firms in the IC design sector are operating in Penang.
Shares of Globetronics closed up one sen or 1.83% at 55.5 sen on Monday, giving the group a market capitalisation of RM368.1 million.