The Press Release
A Few Words From The VIP's
Penang Chief Minister said, “The investment will stimulate local businesses, thus contributing significantly towards the economy of Penang by maintaining and strengthening its local supply chains.”
Meanwhile, the chief executive officer of Malaysian Investment Development Authority (MIDA) chief executive officer Datuk Arham Abdul Rahman, said, “The company’s presence will also encourage the growth of local companies within the IBS industry,” and “This is a key win for Malaysia in realizing our aspiration to attract high-quality investments from reputable companies all around the world,”
Sweden Ambassador Dr. Joachim Bergstrom shared his view.
“In the last few years, we’ve seen an incredible development of new methods and materials within construction that are cost-effective and enhance liveability and safety.
“SIBS is at the forefront of the development. It brings me great joy to see that they are expanding their operations here in Penang, bringing in leading global solutions within their field, sharing that knowledge, and providing many jobs to the local community.”
The Future of SIBS
SIBS looks forward to producing 5000 units of apartments annually. Besides, the new facility is expected to offer 1,200 local employment opportunities. The expanded space and resources create a platform to expand product offerings to new markets. Thus, an extra value of RM552 million awaits the local sourcing of raw materials and components.