PENANG aims to help local technology companies grow and become important partners to international firms as demand for artificial intelligence (AI) continues to rise, says Chief Minister Chow Kon Yeow.
He said the state was also working to develop the proposed Penang Technology Financial Centre to provide technology companies with better access to capital, talent and other resources to support their growth.
“We want to see Malaysian companies in innovation and technology becoming important partners to international firms in the semiconductor sector, and now in AI and future technologies,” he said during the strategic launch ceremony of Winway Interconnect Technology (M) Sdn Bhd at Eastin Hotel today.
The launch marked Winway’s restructuring and changes to its shareholding, aimed at positioning the company to capitalise on opportunities arising from the AI boom.
Chow said the technology sector was poised for significant growth, with companies of different sizes having opportunities to expand as technological advancements drove demand.
“We are all on the same trajectory of growth, be it a small company, a medium-sized company or an international leader in the sector. I think we are poised to grow because of the technology change,” he said.
He said the state government was aware of the challenges in meeting the industry’s growing needs for land, infrastructure, water and electricity.
“We will do our level best. We do not want to miss out on all these opportunities for our people,” he said.
Chow said the proposed Penang Technology Financial Centre could complement the state’s established electrical and electronics (E&E) sector and create more opportunities for local businesses.
He said Penang had benefited from foreign investments over the past 50 years, particularly through job creation and technology transfers, which had helped develop local talent.
Chow also welcomed BlueChip VC Sdn Bhd, a Malaysian venture capital firm, as a new strategic investor in Winway following the shareholding restructuring.
He said venture capital firms could play an important role in helping technology companies secure funding and expand their businesses.
Chow also expressed hope that more young Malaysians would see Penang as a place to build their careers, start businesses and develop new technologies.
He congratulated the parties involved in Winway’s restructuring and expressed hope that the company would continue to grow and secure more international business.
BlueChip shareholder representative Datuk Seri Koay Sien Yong expressed hope that the company would continue to grow and explore new opportunities in the years ahead.
Among those who attended the launch were Winway shareholder representative Paul Yao and BlueChip senior consultant Yang Jian Zhong.
Story by Edmund Lee
Pix by Law Suun Ting
Video by Darwina Mohd Daud