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KUALA LUMPUR, April 26 (Bernama) -- The recently concluded Trade and Investment Mission (TIM) to the Republic of Korea (ROK) and Japan from 31 March - 6 April 2021 led by YB Dato’ Seri Mohamed Azmin Ali, Senior Minister, Minister of International Trade and Industry (MITI), has successfully secured RM8.9 billion in committed investment for 2021.
SK Nexilis Co., Ltd., a subsidiary of SK Group from ROK, recently had announced its RM2.3 billion worth of investment into Malaysia to establish a thin copper foil manufacturing plant in Sabah. However, the expected investment has been revised to RM4.24 billion. The project is in line with the Government's intention to develop a complete ecosystem of high-tech industries, especially in the automotive and telecommunication sectors. The manufacturing plant in Kota Kinabalu will be powered utilising 100 per cent renewable energy, where such operation will be the first for SK Nexilis outside ROK. Malaysia will be a major hub for a state-of-the-art for thin copper foil production with in-house technology, besides boosting Malaysia’s talent network and capabilities with the company’s presence. SK Nexilis is a global leader in thin-tech innovation for copper foil manufacturing controlling 16 per cent of the world market share for electric vehicle (EV) battery.