Latest news with #3RENBhd
The Sun
5 days ago
- Automotive
- The Sun
3REN secures incentives from InvestPenang to boost IC capabilities
PETALING JAYA: 3REN Bhd, a provider of automation solutions and engineering services, announced that its wholly owned subsidiary, Sophic Automation Sdn Bhd, has signed an agreement with Invest-In-Penang Bhd (InvestPenang) to accept an incentive package aimed at strengthening its integrated circuit (IC) design and development capabilities. This agreement solidifies the partnership between the parties, following the signing of a memorandum of understanding in December 2024 to collectively collaborate on the Penang Silicon Design @5km+ (PSD@5km+) initiative. The incentive package awarded to 3REN includes monetary subsidies, grants and payments for facilities and services provided by participating stakeholders, effective until May 2028. The group plans to strategically leverage these incentives to make meaningful contributions to the growth of Malaysia's semiconductor and IC design and development ecosystem, while driving further innovation in the sector. 3REN executive director and CEO Koh Dim Kuan said having worked alongside reputable counterparties and global players in the IC industry, the company is exceptionally proud to solidify its partnership with InvestPenang through PSD@5km+. 'This initiative provides us with valuable opportunities to collaborate with local fabless IC design firms, EDA tool providers and academic institutions, and enhances our access to cutting-edge IC design and development technologies. 'It also connects us with like-minded, visionary organisations in a united effort to position Malaysia at the forefront of the global semiconductor landscape. 'This collaboration further reflects our strong commitment to nurturing future talent, as the Group strategically advances up the semiconductor value chain, building on its solid foundation in automation solutions and engineering services,' he said.
Barnama
5 days ago
- Automotive
- Barnama
3REN Firms Up Partnership With InvestPenang On Penang Silicon Design @5km+ Initiative
REGION - NORTHERN > NEWS GEORGE TOWN, July 18 (Bernama) -- 3REN Bhd's subsidiary, Sophic Automation Sdn Bhd, has signed an agreement with Invest-In-Penang Bhd (InvestPenang) to accept an incentive package aimed at enhancing its integrated circuit (IC) design and development capabilities, as well as transforming its ideas into IC products. The automation solutions and engineering services provider said in a statement today that the agreement further strengthens the partnership between the two parties, following the memorandum of understanding signed in December 2024 to collaborate on the Penang Silicon Design @5km+ (PSD@5km+) initiative. 'The incentive package granted to 3REN includes monetary subsidies, grants, or payments for facilities and services provided by stakeholders under the agreement for a period of three years until May 2028. bootstrap slideshow 'The group intends to strategically utilise these incentives to contribute to and foster further innovation within Malaysia's semiconductor and IC design and development ecosystem,' it said. Executive director and chief executive officer Koh Dim Kuan said the initiative offers valuable opportunities to collaborate with local fabless IC design firms, electronic design automation tool providers, and academic institutions, while improving access to cutting-edge IC design and development technologies. 'Having worked alongside reputable counterparties and global players in the IC industry, we are exceptionally proud to solidify our partnership with InvestPenang through the PSD@5km+ initiative. 'This collaboration further reflects our strong commitment to nurturing future talent, as the group strategically advances up the semiconductor value chain, building on its solid foundation in automation solutions and engineering services,' he said. On Dec 7 last year, Prime Minister Datuk Seri Anwar Ibrahim launched the PSD@5km+ initiative and announced an allocation of RM50 million to support it. The initiative is spearheaded by the Penang government through its agency, InvestPenang, to revolutionise Malaysia's semiconductor industry in line with the National Semiconductor Strategy.
New Straits Times
5 days ago
- Automotive
- New Straits Times
3REN, InvestPenang formalise integrated circuit design collaboration
KUALA LUMPUR: 3REN Bhd, via its unit Sophic Automation Sdn Bhd, has signed an agreement with Invest-In-Penang Bhd (InvestPenang) to receive an incentive package aimed at boosting its integrated circuit (IC) design and development capabilities. The deal follows an earlier memorandum of understanding (MoU) signed between the two parties in December 2024, under the Penang Silicon Design @5km+ initiative (PSD@5km+). 3REN said the package includes monetary subsidies, grants, and service-related payments from key stakeholders, effective for three years until May 2028. "The company intends to strategically utilise these incentives to collectively play its part and foster further innovation within Malaysia's semiconductor and integrated chip design and development ecosystem," it said in a statement. Executive director and chief executive officer Koh Dim Kuan said the company's partnership with InvestPenang through the PSD@5km+ initiative aligns with its track record of working with reputable counterparties and global players in the IC industry. Koh added it also provides valuable opportunities to collaborate with local fabless IC design firms, electronic design automation tool providers and academic institutions, and enhances its access to cutting-edge IC design and development technologies. "It also connects us with like-minded, visionary organisations in a united effort to position Malaysia at the forefront of the global semiconductor landscape. "This collaboration further reflects our strong commitment to nurturing future talent, as the company strategically advances up the semiconductor value chain, building on its solid foundation in automation solutions and engineering services," he added.
The Star
5 days ago
- Business
- The Star
3REN subsidiary to undertake Invest Penang incentives package
KUALA LUMPUR: 3REN Bhd's wholly-owned subsidiary Sophic Automation Sdn Bhd has inked a memorandum of understanding with regards to its acceptance of a financial incentives package from Invest-In-Penang Bhd for the development of integrated circuits designs into products. In a filing with Bursa Malaysia, the auomation solutions and engineering services group said the incentives period commenced on May 14, 2025, to be renewed on a year-to-year basis for a period of three years. Accordig to 3REN, it is expanding its capabilities in specialised IC design and development. "This includes IC development targeting hardware-level optimisation for Internet of Things (IoT) in industrial automation applications and silicon validation solutions to unlock greater value and long-term business returns," it said. With increasing geopolitical trade tensions and a global semiconductor supply chain shift to Southeast Asia, the incentives provided by Invest Penang will facilitate 3REN's enhancement of its IC design and development capabilities to strengthen the local ecosystem, competitive strength, supply chain resilience and technological independence. Additionally, the incentive package is expected to offer opportunities to collaborate with local fabless IC design firms, EDA tool providers and academic institutions, further enhancing its access to IC design and development technologies.
The Star
09-05-2025
- Business
- The Star
3REN subsidiary wins RM7.14mil contract
KUALA LUMPUR: 3REN Bhd's wholly-owned subsidiary, Sophic Automation Sdn Bhd, has secured a RM7.14mil contract to supply a set of intelligent automated material management systems integrated with vision inspection and robotics for a semiconductor manufacturer. In a filing with Bursa Malaysia, 3REN said the contract is expected to be completed within eight months. 'The contract is expected to contribute positively towards the future earnings and net assets of the group for the financial year ending Dec 31, 2025,' it said.
