MOST COMPANIES IN E&E, SEMICONDUCTOR INDUSTRY OPTIMISTIC ABOUT 3Q 2024 PERFORMANCE -- SURVEY

KUALA LUMPUR, July 15 (Bernama) -- Sixty per cent of companies in the electrical and electronics (E&E)/semiconductor industry in Malaysia are optimistic about their business performance in the third quarter (3Q) of this year, according to a survey by the Malaysia Semiconductor Industry Association (MSIA).

This optimism is driven by demand for consumer electronics, automotive and artificial intelligence (AI), MSIA said.

Furthermore, 85 per cent of the companies surveyed are hiring engineers and technicians in this quarter. 

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“Fifty-eight per cent of the companies have an optimistic investment outlook for 3Q 2024,” the association said in a statement today in conjunction with the launch of the inaugural MSIA E&E/Semiconductor Quarterly Pulse Survey for the Second Quarter (2Q) of 2024.

The objective of this survey is to assess the sentiment, trends, challenges, and opportunities within the Malaysia E&E/ semiconductor industry on a quarterly basis.

MSIA said 39 per cent of the companies reported better business performance in 2Q compared to the first quarter of 2024, indicating a positive industry sentiment.

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“The biggest challenges in 2Q 2024 were talent shortage and market competition or order book,” it said. 

The association said companies are also eyeing opportunities to expand into new markets, invest in new technology and develop new products, with 72 per cent of them having an optimistic overall outlook in the next 12 months.

In addition, it said that 74 per cent of companies surveyed have a positive sentiment towards the adoption of generative AI in the semiconductor industry which will have an impact across their entire operations and strategies. 

According to MSIA, Malaysia’s E&E exports in 2023 totalled RM575 billion, accounting for a 40 per cent share of total exports, which was more than the next nine biggest exports combined.

-- BERNAMA