Shah Alam: Diversified group Kumpulan Perangsang Selangor Berhad, indirect wholly-owned subsidiary, CPI today announced the purchase of a 4.5-acre land in Bayan Lepas Industrial Park, Penang at a purchase consideration of RM27.7 million whereby CPI intends to build a new Electronic Manufacturing Services (EMS) factory.
The new land is over three times bigger than the 1.4-acre land that currently houses the existing EMS facility. Construction of the new factory is expected to commence in the first half of 2019 with target completion in 2020.
The land, being the last available plot in Bayan Lepas Industrial Park, is located approximately 500 metres from CPI’s engineering thermoplastics (ETP) manufacturing division and approximately 2.5 kilometres from the existing EMS facility.
On 17 July 2018, CPI had entered into a sales and purchase agreement with Penang Development Corporation (PDC) for the land acquisition. Chief Executive Officer of KPS, En. Ahmad Fariz said that the land acquisition will allow CPI to expand its production capacity in order to meet the growing demand in the EMS industry.
“The land acquisition is the first step in executing our long-term value creation plan to accelerate CPI’s high-growth phase. With the ever-growing demand in the global EMS industry, we certainly foresee an immense opportunity for CPI to capture. CPI, via its products, has amassed a diverse global clientele including market leaders and multinational companies,” says Encik Ahmad Fariz Hassan, Chief Executive Officer of KPS.
“By 2020, CPI will be well-positioned to not only capture the anticipated future influx in demand but also extend CPI’s competitive edge across both the ETP and EMS industries.”
CPI today is an integrated Engineering Thermoplastics (ETP) and Electronic Manufacturing Services (EMS) player with global clientele across automotive, healthcare, telecommunications, as well as industrial and consumer industries.
