China-based manufacturer of solar encapsulant film, Zhejiang Sinopont Technology Co., Ltd. established its first manufacturing facility outside China in Ipoh, Perak today. The opening ceremony was officiated by the Menteri Besar of Perak State, Yang Amat Berhormat Dato’ Seri Saarani Mohamad.
The opening ceremony was also attended by Perak State EXCO for Tourism, Investment, Industry and Corridor Development YB Loh Sze Yee, Chairman of Zhejiang Sinopont Technology Co., Ltd. Mr. Xianglai Cao, Director of the Malaysian Investment Development Authority (MIDA) Perak Office, Mr. Mohd Fairuz Iqbal Mohd Akhbar and and other government officials.
Zhejiang Sinopont Technology Co., Ltd. through its fully-owned subsidiary in Malaysia, Sinopont Everthriving (Malaysia) Sdn. Bhd. will immediately commence its operation in Tasek Industrial Park, Ipoh, Perak, producing solar cell encapsulant film with production capacity of 85 million square meter encapsulants to cover about 10 GW demand. Sinopont’s investment in Perak will be implemented in a few phases, and expected to reach the production capacity of 300 million square meter encapsulants to cover about 30 GW demand. Perak State and Sinopont will continue to collaborate in planning for future potential expansion projects in Perak, including potential to establish a comprehensive ecosystem for solar industry in Perak.
During Perak Menteri Besar’s investment promotion mission to the People’s Republic of China (PRC) in October 2023, Perak Investment Management Centre (InvestPerak) has signed a Memorandum of Understanding (MoU) with Sinopont Everthriving (Malaysia) Sdn. Bhd. to reinforce cooperation between both parties in ensuring project implementation in Perak including future project expansion will be successfully realized.
The Perak Menteri Besar in his opening ceremony speech mentioned “Sinopont’s decision to invest in the state of Perak not only reflects the advantages of our state’s business environment, but also demonstrates our shared commitment to promote economic growth while preserving the environment for future generations. Perak is now an investment destination that is increasingly attracting the interest of various investors both from domestic and foreign investors, further strengthened by the rapid growth of infrastructure, skilled workforce, and active support from the government to industry players in line with the “Pelan Perak Sejahtera 2030” agenda, which focusing on investor friendly program. These factors make Perak an attractive choice destination for companies looking for a strategic location to start and expand their business operations.”
Datuk Wira Arham Abdul Rahman, Chief Executive Officer of MIDA expressed his support and excitement, saying “This collaboration between Zhejiang Sinopont Technology Co., Ltd. and Malaysia, facilitated by MIDA, reflects our commitment to reinforcing Malaysia’s stature as a central hub in the global renewable energy landscape. The establishment of Sinopont’s manufacturing facility in Perak not only positions Malaysia for a more influential role in the global solar market but also leverages our strategic advantages to spur innovation and sustainable growth within the renewable energy sector. This landmark investment is in line with the objectives of Malaysia’s New Industrial Master Plan (NIMP) 2030, aimed at focusing on advancing economic complexity and fostering innovation-driven growth.”
“I am confident that this venture of Sinopont will contribute to Malaysia’s ecosystem in developing the circular economy industry and will strengthen the resilience of our supply chains landscape,” added Datuk Wira Arham.
The CEO of InvestPerak, Mr. Mohamad Hashim Abdul Ghani highlighted “The investment made by the company is a testimony of strong confidence showed by foreign investors to Perak. The State government will assist, provide support, and facilitate any new investments coming to Perak. For strategic project, InvestPerak will issue a ‘fast-track letter’ to expedite approvals required by company from authorities to ensure smooth implementation of the project. InvestPerak will continuously working hand in hand with MITI and MIDA to promote Perak as the preferred investment destination in Malaysia.”
The investment by Sinopont Everthriving (Malaysia) Sdn. Bhd. is expected to create employment opportunities to about 300 Malaysian once it is running at full capacity. Through this project, Sinopont will strengthen the ecosystem of solar panel manufacturing industry in Malaysia, particularly within the Northern Region of Malaysia.