Luxshare-ICT plans an additional US$208.5 million investment in Vietnam's Nghe An province, set to boost annual production and create 25,000 jobs. The expansion strengthens Luxshare's global market share as the industry prepares for potential US tariff hikes following the company's acquisition of Wingtech's ODM business, further cementing its position in the EMS industry
SenseTime Group is reducing its office footprint in Singapore, scaling back once-lofty ambitions at a time when it is struggling to compete in the post-ChatGPT era
Thailand, known as the "Detroit of the East," is experiencing a transformative shift toward EVs despite the current dominance of fuel-powered cars. This transition is supported by its robust automotive industry and favorable policies from the Thai government, which aims to expand its role in the global electric vehicle supply chain amidst ongoing geopolitical challenges
Japanese printed circuit board (PCB) manufacturer Meiko has doubled its market value, driven by the need for the global supply chain relocation away from China. By proactively setting up production facilities in Vietnam, Meiko has become a key player amidst the US-China tensions. Satellite communications opportunities have also significantly boosted its revenue growth
Southeast Asia has cemented its position as a crucial hub for technological advancement in 2024, particularly in AI, semiconductors, and electric vehicle (EV) transformation. The region's governments are carefully navigating the challenge of attracting foreign investment while fostering local industry growth, a balance that continues to reshape the economic landscape
Xiaomi has inaugurated its first store in Singapore, marking a strategic move to enhance its presence in the Southeast Asian market, with a particular focus on home appliances. The company is aiming to bolster its retail footprint in the region and may introduce its range of electronic products there as part of this expansion
Chinese Goertek is set to invest US$570 million into expanding its operations in Bac Ninh, Vietnam, pending the necessary approvals from local authorities
J&V Energy has announced the formal signing of a memorandum of understanding (MOU) with Thailand's ESPRO. The two parties will jointly establish a holding company in Thailand, focusing on the development and operational management of green energy projects in the region
Synopsys, the leading electronic design automation company in the US, has launched its fourth office in Vietnam, located in Hanoi. The company already operates two offices in Ho Chi Minh City and one in Danang
With the upcoming Trump administration, the Indonesian government is working to deepen its ties with Elon Musk, who maintains close connections with the president-elect and is expected to play a key role in the transition
In a strategic move to strengthen its global presence, Wistron's board of directors approved several overseas investment projects on December 20, 2024, including a major renovation of its Texas facility in the US, the construction of a new factory in Vietnam, and additional capital investment in India
Indonesia has demanded Apple establish manufacturing facilities commensurate with its market size in the country. As global supply chains continue to evolve, such requirements from nations may become increasingly common
Topoint Technology, a manufacturer of PCB drill bits, is preparing to commence mass production at its new factory in Thailand in 2025. This facility will provide drilling services to local PCB operations overseen by Taiwan-based companies
Taiwan-based energy solution provider ATE Energy has achieved significant progress in the Philippines market with an order backlog of about NT$11 billion (approx. US$335.83 million) and expects overseas revenues to account for 70% of the overall total in 2025, according to the company
