Malaysia Industy Updates

Received this information from a forward mail:

Johor
1. V.S. Industry Berhad – 1st quarter net profit falls almost 60%. 2 of the factories are facing critical downturn.
2. Flextronics – Has shut down 4 weeks (2 consecutive weeks for last Christmas/09 New Year and this CNY) and expected to resume work only next Monday.
3. Venture – Kempas plant is down to 4-day work per week while Tebrau has retrenched major contract workers and FULLY freeze OT. Either Venture or Flextronics is speculated to cease operation soon following a Taiwanese company named Foxcon would most probably take over HP business project from them.
4. Celestica – down to 4-day work per week.
5. Beyonics – down to 4-day work per week.
6. Seagate – 3 US based VP/Directors had been fired. Top management and executive level staff cut pay 10-15%.
7. Qimonda – Germany HQ is reported to apply bankruptcy following Germany government failed to provide financial support. If such happened, means Senai plant will be closed as well. Feb – Apr will be the critical period.

Melaka
8. Panasonic to close 27 plants world wide and retrench 15,000 employees – Melaka plant to be shut down in March. http://thestar.com.my/news/story.asp?file=/2009/2/6/business/3205889&sec=business

Penang
9. Spansion - CEO quits, chip maker seeks buyer http://www.networkworld.com/news/2009/020309-spansion-ceo-quits-chip-maker.html
10. NEC (Prai) – work 4-day week
11. Intel to close 2 plants in Penang Island this year and shift workers to Kulim plant
12. Molex - http://sg.news.yahoo.com/rtrs/20090128/tbs-molex-7318940.html
13. Agilent - pay cut 10%
14. Fairchild – work 4-days week
15. Avago – job cut about 100 ppl in December 2008
16. Molex – Chinese New Year shut down for 2 weeks

Global
http://4.jfserver.info/community/retrenchment/retrenchment_full.php?sort=firmtitle&order=desc