Western Digital to spend another RM2.3bil, cumulative investment in Malaysia rise to RM18bil

KUALA LUMPUR: American hard disk drive manufacturer and data storage company Western Digital will further invest RM2.3 billion to expand its presence in Malaysia.

The new investment will take Western Digital’s total investment to almost RM18 billion since establishing its operations in the country in 1973.

The Prime Minister’s Office (PMO) said in a statement the additional investment was agreed upon during a meeting between Prime Minister Tan Sri Muhyiddin Yassin and Western Digital (Malaysia) Sdn Bhd chairman Datuk Syed Hussian Aljunid today.

PMO said the new investment by Western Digital reflected the government’s ability in managing the economy and bringing back investors’ confidence despite the Covid-19 pandemic.

Muhiyiddin welcomed any company wanting to invest in a high-impact and technology-based industry here, it added.

“The government through the Ministry of International Trade and Industry, Malaysian Investment Development Authority and other related agencies are always committed to attracting investment and convincing investors to invest or make additional investments in Malaysia.

“Western Digital’s additional investment reflects high confidence of foreign investors towards the government in helping investors to expand their investment and operations in the country,” PMO said.

Meanwhile, Syed Hussian Aljunid said the company’s decision to channel new investments was driven by the favourable operating conditions and support from the Prime Minister and government ministries.

“Western Digital Malaysia wants to express our profound gratitude to the Prime Minister and the government for their continued support of the local manufacturing industry especially during the Covid-19 pandemic.

“The unrelenting efforts to balance public health and the needs of manufacturers is a testament to the Prime Minister’s unwavering commitment to the well-being of Malaysian citizens and its economy,” Syed Hussian said at a press conference here today.

He said the RM2.3 billion would be used to expand the company’s facilities in Penang and Sarawak.

“Of the total, RM1 billion will be utilised to build a new factory in Kuching, Sarawak which will add 30 per cent capacity for its hard disk drive (HDD) its total production capacity and RM1.3 billion is for new equipment facilities,” Syed Hussian added.

Western Digital currently has facilities in Penang, Selangor, Johor and Sarawak.

Syed Hussian said the new investment was expected to provide additional employment opportunities for 2,000 people.

He also said Western Digital’s salary cost in Malaysia would increase by RM80 million annually.

“The company currently employs over 9,000 people in Malaysia whose contributions are critical to the global supply chain of storage devices, data centre systems and cloud storage devices,” he added.

Source: NST