Samsung invests in Malaysia

Samsung invests in Malaysia

KUALA LUMPUR (AFP): South Korea's Samsung Group yesterday
opened its largest overseas manufacturing complex in Malaysia and
announced plans to invest further in the country's growing
electronics sector.

Prime Minister Mahathir Mohamad, inaugurating the 52-hectare
(128-acre) Samsung complex in Seremban, a town south of Kuala
Lumpur, called for more South Korean firms to invest in high
value-added industries in Malaysia.

Crediting multinational corporations with propelling
Malaysia's export boom over the last two decades, Mahathir urged
other foreign firms to follow Samsung's lead and invest in the
country as it shifts to more advanced industries.

Samsung has invested 2.1 billion ringgit (US$840 million) in
the complex -- which turns out picture tubes, monitors and
components. Turnover from the three operations in the facility
reached 2.065 billion ringgit in 1996.

An additional 727.5 million ringgit is to be invested by
Samsung in the complex until 2000 for a training center,
dormitories, automated machinery and potential expansion of
production lines, Samsung said.