Intel Corp, the world's biggest semiconductor maker, said it will spend US$40 million to set up a new chip manufacturing and design facility in Malaysia.
The design center will be used to develop chipsets for its manufacturing sites worldwide, it said in a statement. Chipsets connect a processor to a PC's memory, hard drive and other components.
"I don't see the level of research and development spending slowing down in Malaysia," Intel chief executive Craig Barrett said at a news conference in Penang.
"We will invest more in Malaysia," he said.
He declined to give details.
More investment from Intel may help fuel confidence in the Malaysian economy. Applications from US companies for manufacturing investment in Malaysia fell by half last year to 1.3 billion ringgit (US$342 million), according to the Malaysian Industrial Development Authority.
The California-based company has spent US$2.3 billion over 31 years on its plants in the northern Malaysian states of Penang and Kedah. Intel spends US$100 million on research and development in Malaysia, about 2.5 percent of its annual expenditure of US$4 billion, Barrett said.
Last Friday, Intel raised its third-quarter sales-growth forecast to as much as 20 percent, or US$7.8 billion, as demand for microprocessors is expected to increase.
Still, Barrett said Monday in Taipei and yesterday in Malaysia that it's too early to say whether a personal-computer recovery is under way.
"We're seeing strong seasonal strength in all geographies across the board," he said. "But we're not sure ... if that signifies some start to a recovery."
"We're going to be conservative in our forecasting, so we're not forecasting a recovery in the IT sector yet," Barrett told reporters in Penang.
Malaysia is stepping up a drive for investment as global investors reduce spending on additional production capacity and move their money to bigger markets such as China, which drew US$52.7 billion in overseas investment last year.
The US was Malaysia's biggest source of foreign investment in manufacturing in 2001, then fell behind Germany and the UK last year. In June, Malaysia allowed 100 percent foreign ownership in new manufacturing projects in the country, and has eased restrictions on foreign labor in an effort to attract investment.
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