Reezal Merican Naina Merican says the Penang government must recognise that every industry goes through cycles of growth and decline.
Key takeaways
Penang UMNO representative Reezal Merican urged industrial diversification to protect the state’s 80% export‑dependent electronics sector amid global market volatility, proposing complementary high‑value industries and increased local ownership of technology and IP.
- Reezal highlighted recent drops in global tech indices, stressing the need for Penang to prepare for demand shifts.
- He called for a diversification strategy that complements, not replaces, the electronics sector.
- He suggested boosting local ownership of technology and intellectual property within the semiconductor supply chain.
Summarised automatically by AI from the original article by Free Malaysia Today. AI can make mistakes, so check the original for details.
Bertam assemblyman Reezal Merican Naina Merican said the Penang government should be adequately prepared for a slowdown in global demand in the E&E sector, technological disruptions or shifts in investment priorities. (Facebook pic)GEORGE TOWN: A Penang Umno assemblyman has called for the state to diversify its industries in preparation for a possible downturn in the artificial intelligence (AI) and semiconductor sectors.
Reezal Merican Naina Merican (BN-Bertam) said while the global outlook for semiconductors and AI remained positive, the Penang government must recognise that every industry goes through cycles of growth and decline.
He cited recent market volatility, including a 7.57% drop in South Korea's Kospi index on Oct 15, when shares of Samsung Electronics and SK Hynix fell by 9.5% and 11.1%, respectively.
