KUALA LUMPUR (BLOOMBERG) - Intel Corp will invest RM30 billion (S$9.7 billion) to expand its manufacturing capabilities in advanced semiconductor packaging technology in Penang, Malaysia, according to a press invitation on Monday (Dec 13).
The chipmaker is scheduled to hold a press conference on Wednesday at the Kuala Lumpur International Airport on the investment.
Intel CEO Patrick Paul Gelsinger, Malaysia's trade minister Azmin Ali and Malaysian Investment Development Authority CEO Arham Abdul Rahman will be present, according to the invite.
The addition of advanced packaging capabilities to Intel's operations in Malaysia will strengthen its supporting activities and its global service centre, according to the invite.
The investment will position Malaysia as one of the key hubs for manufacturing and shared services.