UWC Berhad should use its next chapter to deepen its technology capabilities, strengthen its talent base and capture greater value from the rapidly expanding global semiconductor ecosystem, says Chief Minister Chow Kon Yeow.
He said the company’s future growth should not be measured solely by greater scale, but by its ability to build stronger engineering capabilities, adopt new technologies, develop skilled talent and strengthen its position in higher-value activities.
“The next step is to turn that growth into deeper capability,” Chow said in his speech at the UWC Student Graduation Ceremony and “The Next Chapter” Gala Night 2026 at the Setia SPICE Convention Centre tonight.
Chow said the semiconductor landscape is being reshaped by artificial intelligence, cloud infrastructure and high-performance computing, creating significant opportunities for Penang and its home-grown companies.
“For Penang, the opportunity is not simply to manufacture more, but to capture more value from the technologies and supply chains that are expanding around us,” he said.
He said UWC’s own growth demonstrates the potential of Malaysian companies to benefit from the global technology boom.
In the first nine months of its current financial year, UWC recorded RM408.72 million in revenue, an increase of 47.3 per cent, while net profit more than doubled to RM56.24 million.
Chow said the figures demonstrate that home-grown companies are increasingly capable of capturing opportunities created by global technology growth, but stressed that sustained progress depends on developing deeper capabilities.
He said Penang has spent more than five decades building its electrical and electronics ecosystem, developing strong manufacturing capabilities and global connections.
“The next phase must build on that foundation through deeper engineering capabilities, stronger local suppliers, greater technology development and more Malaysian companies moving into higher-value activities,” he said.
Chow also welcomed UWC’s continued investment in Penang, noting that the company had invested approximately RM260 million over the past two years and is targeting a further RM300 million in investments this year and next year.
The investments include a new five-storey manufacturing facility, technology upgrades and workforce development.
“Government can provide the enabling environment, and education and training institutions can provide the foundation, but industry must help shape the skills needed for tomorrow’s economy,” he said.
Chow also highlighted UWC’s investment in workforce development, noting that the company has produced more than 100 graduates since establishing the UWC Academy in 2017, with another 122 graduates celebrated at tonight’s ceremony.
Congratulating the graduates, Chow said continuous learning, skills upgrading and the ability to adapt to rapidly evolving technologies were critical to their future success.
He said talent development is particularly important as Penang faces growing competition for investment, technology and skilled workers.
“We cannot compete on cost alone. We must compete on capability, innovation, reliability and talent,” he said.
He also praised UWC employees for their skills, commitment and professionalism, describing them as the foundation of the company’s success.
“As UWC begins its next chapter, I hope it will be defined not simply by greater scale, but by greater capability – in technology, talent and value creation,” he said.
Meanwhile, UWC Berhad chief executive officer Datuk Seri Ng Chai Eng spoke about the company’s 36-year journey of transformation and diversification, which began as Unique Wire Cut Sdn Bhd in 1990.
He said UWC has never stopped changing, improving and moving forward.
“Change is very challenging and costly, but it presents many new opportunities,” he said, adding that the company’s aspiration is encapsulated in its slogan, “Move Up & Move Out”.
To continue to move up, Ng said UWC has consistently invested in strengthening its capabilities, including its machinery, facilities and technology, while placing particular emphasis on developing its human capital.
To “move out”, he said the company must step out of its comfort zone to embrace challenges and create new opportunities for the future.
On human capital development, Ng said UWC has invested more than RM16 million in education, development and employee training since 2018.
This included scholarships for university and college students, participation in programmes such as FutureTech Academy in Penang and TVET initiatives, as well as the establishment of the UWC Academy and overseas training programmes to provide continuous learning and development opportunities for its employees.
UWC has also sent employees overseas for training and international exposure, including to Germany, the United States, Taiwan and Japan.
Ng also highlighted UWC’s expansion beyond its Batu Kawan operations, noting that the company had expanded to Kamunting in Taiping and Tampoi in Johor, as well as Ho Chi Minh City in Vietnam and Phetchaburi in Thailand. It has also established a sales office in Boston, the United States.
Towards the end of his speech, Ng announced that UWC has set a new target of achieving RM1 billion in revenue within the next two years.
“I believe that with the spirit, commitment and hard work of everyone in UWC, we can achieve our RM1 billion target,” he said.
Also present were State Speaker Datuk Seri Law Choo Kiang, state executive councillors Daniel Gooi Zi Sen and Goh Choon Aik, UWC Berhad chief operating officer Prof Datuk Lau Chee Kheong, deputy chief executive officer Dr Martin Ng Chin Liang, deputy chief operating officer Ng Sze Yen, and members of the UWC Berhad board of directors and management.
Story by K.H. Ong
Pix by Muhammad Iqbal Hamdan