KUALA LUMPUR, July 30 (Bernama) -- Bursa Malaysia's key index closed at an intraday high today, supported by continued buying interest even as renewed geopolitical tensions and a weaker overnight lead from Wall Street following the US Federal Reserve's (Fed) decision to stand pat on interest rates weighed on broader sentiment. The Fed has decided to hold rates steady for the fifth consecutive meeting, with the Federal Funds Rate unchanged between 3.50 per cent and 3.75 per cent. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.84 points to 1,720.40 from yesterday’s close of 1,715.56. The benchmark index, which opened 1.14 points lower at 1,714.42, hit its lowest level of 1,710.69 in early trade before gaining momentum for the rest of the day. However, the broader market was negative with losers outpacing gainers 581 to 411, while 612 counters were unchanged, 1,173 untraded, and 87 suspended. Turnover declined to 2.49 billion units valued at RM2.25 billion from ...
Malaysia has launched a new chip design hub in Selangor, marking a significant step forward for the country's semiconductor industry. Here's what you need to know:
Key Points:
Boosting Local Capabilities: The new hub aims to improve Malaysia's chip design skills, moving beyond traditional testing and packaging to more advanced and valuable activities.
Growing Demand: As the need for data centers increases, so does the demand for semiconductors. Malaysia plans to design its own chips, reducing dependence on foreign designs.
Strategic Partnerships: The Malaysia Semiconductor IC Design Park has partnered with major industry players like Cadence Design Systems Inc and Arm Holdings Plc. This hub is strategically located in Puchong, near Kuala Lumpur.
Regional Impact: Malaysia is already a key player in the global semiconductor supply chain, hosting facilities for Intel, GlobalFoundries, and Infineon. The new hub will further strengthen its position.
Investment in the Future: The Malaysian government has pledged at least RM25 billion (US$5.6 billion) to support the semiconductor sector, aiming to leverage global supply chain shifts caused by US-China tensions.
Ambitious Goals: By 2030, Malaysia aims to double its semiconductor exports to RM1.2 trillion, securing its spot as the world's sixth-largest chip exporter.
Conclusion:
Malaysia's establishment of a chip design hub is a strategic move to elevate its role in the global semiconductor industry. With substantial investments and strategic partnerships, the country is poised to become a leader in chip design and manufacturing, attracting more foreign investments and boosting its economy.
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