PENANG, Malaysia (Oct 14): Years after resisting pressure to move to China, Lee Hung Lung says his bet has paid off. Lee is the founder and CEO of Hotayi, whose two factories manufacture and assemble circuit boards and other electronics products. Penang is just one of the areas across Asia competing for supply chains seeking a new location and lower tariffs. The other factor going for Penang is that many semiconductor and other electronics products from Malaysia do not attract U.S. tariffs, unlike the 25% rate for China. Malaysia’s January-August E&E exports rose 0.7% on the year to 247.6 billion ringgit, while total exports slipped 0.4% to 650.8 billion ringgit.

Source: The Edge Markets October 14, 2019 02:26 UTC