DEXCOM, INC., a global leader in continuous glucose monitoring (CGM) systems, has selected Penang as its next destination to setup a new factory at the Batu Kawan Industrial Park.
Chief Minister Chow Kon Yeow, who announced the company’s expansion plans in Penang this year, said the state was proud that Dexcom would be investing on a new 28-acre site for its first facility in Penang.
“Dexcom looked beyond the current macro uncertainties. It has chosen to invest in Penang despite the current Covid-19 pandemic.
“Dexcom’s new facility will be focusing on the manufacturing of sensors and applicators for the CGM system. Construction works are expected to begin in the second half of this year (2020).
“The new manufacturing facility also will create significant job additions over the next 10 years, including roles in manufacturing, facilities management as well as manufacturing-related research and development (R&D).
“It will also mark Penang’s meaningful participation in the CGM field, and I am proud to share that this will be Dexcom’s third plant and its maiden manufacturing facility outside of the United States,” Chow told a press conference in Komtar today.
Also present were Deputy Chief Minister I Datuk Ahmad Zakiyuddin Abdul Rahman, state Domestic Trade, Consumer Affairs and Entrepreneurship Development Committee chairman Datuk Abdul Halim Hussain, Penang Development Corporation (PDC) deputy general manager Aziz Bakar, investPenang chief executive officer Datuk Loo Lee Lian and special investment adviser to the Chief Minister Datuk Seri Lee Kah Choon.
Chow said that Penang has built a strong industrial ecosystem which complements the needs of medtech players; thanks to its half-a-century industrial experience.
“With over 50 medical device companies present in the state, Penang’s medical devices cluster is among the highest concentration in Southeast Asia.
“We benefit from this because Dexcom CGM systems require expertise and support from electronics engineering, manufacturing and related ancillary services, which are already well-established in Penang.
“The state government will also continue to entrench Penang’s position in the medical technology industry,” he added.
According to Chow, 2019 was an action-packed year for Penang.
“Our total approved manufacturing investment hit a record high, with strong inflows of both new and re-investments into the state.
“Penang recorded RM16.9 billion in total approved manufacturing investment in 2019, an increase of 192% year-on-year, and registered more than double its 10-year average of RM8 billion,” he said.
Chow added that the state government, through investPenang and PDC, will continue to focus on landing projects that have far-reaching effects on the local economy in terms of supply chain localisation opportunities, creating high-quality jobs, uplifting the skill sets of the local technical workforce, as well as having significant economic spillover and multiplier effects.
He also thanked the Malaysian Investment Development Authority (Mida) for working closely with investPenang in attracting high-quality investments to Penang.
“I would like to congratulate Dexcom for this significant expansion here in Penang and Malaysia; and I look forward to fostering a close partnership with Dexcom. I assure the state’s commitment in facilitating and driving the project to success,” Chow added.
Dexcom, Inc., is a company that develops, manufactures, and distributes CGM systems for diabetes management. It operates internationally and headquartered in the United States.
The CGM systems provide a more accurate way to monitor blood glucose levels, thereby allowing diabetic patients to better regulate their blood glucose.
Source from: Buletin Mutiara