KUALA LUMPUR: Northeast Group Bhd is waiting for details on the National Semiconductor Strategy (NSS) in Budget 2025.
Chairman Datuk Seri Lee Kah Choon said the group is eager to see how the government will incentivise the electronics industry under the plan.
“We are looking forward to more clarity on how the semiconductor strategy will unfold and what incentives will be offered to the industry,” he said at their listing ceremony in Bursa Malaysia today.
Northeast Group debuted on the ACE Market of Bursa Malaysia at 53 sen per share, representing a 6% premium over its issue price of 50 sen per share.
Commenting on the company’s IPO, which raised RM84.49 million through the issuance of 169 million new shares and 51.8 million existing shares, Lee said RM40 million has been earmarked for a new factory, and RM20 million for repayment of bank loans.
A further RM12.4 million will be invested in 36 new computer numerical control machines to support the group’s efforts in expanding its customer base locally and internationally. “This investment is key to enhancing our operational efficiency and meeting growing market demand,“ he said.
Looking ahead, Lee reiterated the group’s commitment to maintaining high innovation and operational excellence standards. “We aim to break into new markets, leveraging our capabilities to remain competitive in a rapidly evolving industry.”
As part of its branding strategy, Northeast Group has introduced the concept of “New Precision & Accuracy”, which he believes will resonate with customers and reflect the company’s commitment to quality.
Lee said that by underscoring the importance of continuing to focus on innovation, quality and customer satisfaction as the group expands its market presence.
Moving on other matters, Lee highlighted the critical role of talent in driving the country’s economic growth. “Talent initiatives are crucial because the country cannot move forward or sustain its economy without sufficient skilled workers to power it.”
In addition to talent, Lee said, the ease of doing business remains a key area of concern. “We live in a highly competitive world, and ease of doing business is equally important to ensure Malaysia remains attractive to investors.’
He urged the government to examine ways to streamline business operations and improve Malaysia’s competitiveness compared to other Asean member states. “The ability to simplify business processes will help Malaysia stand out in the region and attract further investment,” he added.
