The spread of the Covid-19 virus has impacted almost all industries globally. The electrical and electronics (E&E) sector is no exception with many organisations not being able to operate at full capacity due to workforce and supply chain disruptions.
Nevertheless, with containment measures likely easing in the second half of 2020, the local economic activity is expected to pick up and gradually improve, more so if the domestic movement control order (MCO) is lifted.
The E&E industry has been identified as a key sector that will assume a critical role in structural reforms as the economy moves towards the recovery and regrowth stage, with the Malaysian government emphasising on digital transformation.
SEMI Southeast Asia believes that the Malaysian E&E landscape will remain robust in the coming months, supported by the immense opportunities offered by the industry, especially with the rise in remote working, virtual learning and e-commerce.
These insights were shared during a webinar hosted by SEMI Southeast Asia, featuring Chief Executive Officer of Malaysian Investment Development Authority (MIDA), Datuk Azman Mahmud; Investment Strategist of United Overseas Bank, Francis Tan; and Chief Executive Officer of SOITEC, Paul Boudre.
According to President of SEMI Southeast Asia, Bee Bee Ng, the global semiconductor market has shown early signs of resilience to the economic turmoil caused by the Covid-19 pandemic.
“Part of this strength comes from the nature of the industry itself, which is present and plays a role in growing other vital sectors such as healthcare, automotive and retail.
“We foresee the E&E landscape in Malaysia stabilising in the coming months, on the back of demand for smart manufacturing capabilities, automation and technological innovations,” she said in a statement.