AMS-Osram U-turns on RM2bil investment in Kedah

Austrian-German company AMS-Osram AG has cancelled its investment in Malaysia after recently completing its micro-LED plant in Kulim Hi-tech Park, Kedah.

Around 500 workers will be affected worldwide by this decision, many of whom are based in Penang.

According to Digital News Asia, a company executive who wished to remain anonymous said there is a possibility that the company will redeploy the affected workers to its other businesses in the country.

“The business outlook for the sensors and LED market is still growing and we have business lines that are doing well and growing in other areas,” the executive was quoted as saying.

Company chief executive officer Aldo Kamper reportedly revealed that the decision is due to the cancellation of a key customer, believed to be Apple.

The company is pivoting its focus on its internal micro-LED needs, which will be met by its production in Germany.

The company is also seeking a buyer to acquire its Kulim plant’s lease, which is held by Permodalan Nasional Bhd, Employee Provident Fund and Retirement Fund Incorporated.

The lease came under the three bodies when AMS-Osram executed its financial restructuring through €400 million (RM2.03 billion) sale and leaseback of the micro-LED site, with the commitment that the company could buy it back after 10 years or earlier.

According to the report further, a person familiar with the matter said the three funds will not be financially affected as AMS-Osram will continue to honour its obligations if it cannot find a party to take over its lease.

AMS-Osram originally began in Malaysia in 1972 as Siemens. The company is a global optical solutions specialist, particularly in automobiles.

https://www.malaysiakini.com/news/704773

got related to fiery speech our palestine minister gave when he is in germany?

it says there; believed due to Apple backtracking on expected component, demand suddenly gone.

If I see a country leader keep supporting terrorist and boycott McDonald's for stupid reason, I also will cancel investment

It's excuse because there is still osram factory

kita menang lagi

Apa alasan pmx again bagiiii

Tak mahu silap hari bulan itu led rainbow kaler trigger certain usb cable…

sanusi bodo

Many firms that accept epal orders last minute kena cancel
Entire dept dismissed
Entire prod floor building dismissed

Kesian those ppl kena petik anggur

Hans! Packen uppen zee flammenwurfer. We go to Thailand ja? Rrrrrraaause!

So boikot Apple success?

numbers remain delusions….

Saw my Thai fb fren mention
Thailand got one LED factory shutting down also
Rumour to be 10,000 jobs hilang

Didn’t mention the name though , need to find back the post

Apple's global sales are dropping, so they have put on hold plans to purchase components and things from Osram.

german want their Wiener Schnitzel and beer, tapi kedah is holyland, oil and water don't mix.

kkb election

PN going to win big.

apple's order is so big until need to build new plant?

so who got the sweet deal from apple?

With on going racism, can’t blame them