THE launch of Deloitte Southeast Asia Consulting Penang Office at Hunza Tower in Kelawei Road today will further drive the state up the value chain as it contributes to skills development needed by semiconductor and high-tech clients in the industry, says Chief Minister Chow Kon Yeow.
He said consultants are much needed to advise the state to realise and optimise our existing potential while also looking at other emerging areas of growth.
“The areas where the Deloitte consulting office will be contributing include digital transformation, AI and machine learning, cybersecurity, data science and analytics, among others. And you have grown beyond the core business of an accounting firm.
“I look forward to seeing these capabilities being further developed in Penang, helping to advance our competitiveness in the global E&E value chain.
“It is necessary for various stakeholders to work together to bring the Penang2030 vision into reality. By fostering a collaborative environment, we can harness the potential of innovation, spur economic growth and establish our region as a world leader in the E&E industry,” Chow said in his speech before the ribbon-cutting ceremony.
Penang, Chow said, has come close to hitting 45 percent of all the targets set for the state five years into its Penang2030 programme.
He said he was also glad that with firms like Deloitte investing in the state, young talents in Penang will have vast opportunities for a rewarding career within Penang itself. This is in line with one of the pillars in the Penang2030 vision which is increasing liveability to enhance quality of life.
Chow added that Penang has established itself as the driver of the E&E industry in the nation. Despite being the second smallest state in Malaysia, Penang commands over 5 percent of the global semiconductor sales and made up close to 60 percent of the country’s E&E exports.
“Driven by Industry 4.0, the electrical and electronics (E&E) and IT ecosystem is projected to create over half a million jobs and contribute 23 percent to the country’s GDP in the next five years.
“The average monthly salary in the E&E industry is twice the Malaysian average – at RM6,450 and with only 0.3 percent of the E&E workforce possessing an advanced degree, the potential for upskilling and growth in this area is limitless,” he said.
Also present were Deputy Chief Minister II Prof Dr P. Ramasamy, state Trade, Industry & Entrepreneur Development Committee chairman Datuk Abdul Halim Hussain, Malaysia Semiconductor Industry Association (MSIA) president Datuk Seri Wong Siew Hai, Federation of Malaysian Manufacturers Penang (FMM Penang) chairman Datuk Lee Teong Li, The Free Industrial Zone, Penang, Companies’ Association (FREPENCA) president Dr David Lacey, Deloitte Malaysia chief executive officer Yee Wing Penang, Deloitte Malaysia consulting leader Kavita Rekhraj, Deloitte Consulting (SEA) semiconductor consulting practice executive director Jan Nicholas, and Head of Penang Deloittee Ng Lan Kheng.
Yee said with the launch of the Deloitte SEA consulting office in Penang, one of the key priority areas would be to support the E&E clients across Malaysia and Southeast Asia.
Deloitte Malaysia, which was established in 1968, then opened an office in Penang in 1973 to become a key player in the business ecosystem.
“We have a world-class talent pool in Penang, a very established ecosystem and also a supportive state government,” Yee said in his speech.
Yee added that his company would be officially launching the Deloitte SEA Regional Capability Centre, which will be headquartered in Kuala Lumpur. Currently operating with over 400 professionals, it aims to scale up 1,000 professionals within a year and 3,000 in five years to provide a wide spectrum of professional services from its centralised location.
On the same note, he said the Penang office would be scaled up to 100 in one year and 200 in three years.
“The establishment of the RCC as our talent hub reinforces our commitment to creating high-value employment opportunities for local knowledge workers and nurturing a highly-skilled workforce, capable of exporting world-class professional services internationally,” Yee said.
Kavita said Deloitte has been established in Penang 50 years ago, with 25 years of consulting services beginning with 120 professionals across Malaysia, Singapore and Thailand.
But today, she said Deloitte has 3,000 professionals serving clients across Southeast Asia with 700 based in Malaysia.
“We believe that public and private partnerships with organisations like ourselves Deloitte can help to support in cultivating talents and developing careers to serving the industries today and tomorrow,” Kavita said.
After the ribbon-cutting ceremony to launch the Penang consulting office, Yee announced that Deloitte Malaysia is continuing with its Deloitte KidsEdu programme for its third year as part of its corporate social responsibility.
He said Deloitte Malaysia has accepted 150 students from SK Francis Light and SK Hutchings from Penang to enrol for the programme beginning in early May, apart from presenting a total of 47 refurbished laptops to both schools.
Yee added that the programme, which was initiated in 2019, has impacted more than 2,000 students out of which 1,000 have graduated. From their assessment and feedback gathered, he said students have consistently shown improvement in English literacy and increased confidence in their communication.
To date, he said Deloitte Malaysia has given out 570 units of refurbished laptops to underprivileged students.
Story by K.H. Ong
Pix by Siew Chia En
Video by Law Suun Ting