FINISAR CORP RAISES FDI IN PERAK
World’s largest supplier of optical communication products, Finisar Corporation, plans to invest an additional RM400 million in its plant in Chemor, Perak, bringing its total investments in Malaysia to the RM1 billion mark.
Finisar Executive Chairman and Chief Executive Officer Jerry S. Rawls (pic) said with the additional investment, the company hoped to generate returns of RM38.5 billion in 10 years.
Rawls revealed the intent to Prime Minister Datuk Seri Najib Razak during the latter’s luncheon with American captains of industry at a hotel in San Jose on February 19.
Datuk Seri Najib was on a two-day working visit to the Silicon Valley for the USASEAN Summit hosted by US resident Barack Obama.
The prime minister said the additional investment would provide job opportunities for 250 Malaysians. According to Rawls, the RM400 million investment will span over three to four years, involving expansion of its plant in Chemor and recruitment of additional employees.
Since it began operations in 2001, Finisar has invested about RM672 million, contributing 25 per cent to Perak’s manufacturing gross domestic product (GDP) and 5 per cent of the state’s. In 2015, Finisar clocked in US$1.25 billion in revenue worldwide.
The company’s world-class products enable highspeed voice, video and data communication for networking, storage, wireless and cable TV applications – some of which include optical transceivers, optical engines, active optical cables, optical components and optical instrumentation.
Rawls said the company has decided to increase its investment in Malaysia due to good workers, stable employment, easy trade and good basic as well as communication infrastructure.