Thursday, September 8, 2011

Hong Leong Mfg transforms DSEM into major LED exporter

KUALA LUMPUR: Hong Leong Manufacturing Group, which acquired a strategic stake in DSEM Holdings Sdn Bhd, will transform the latter from a contract manufacturer into a leading light emitting diodes (LED) exporter under its own brand.

DSEM chief executive officer Davindra Singh Gendeh said on Thursday, Sept 8 that LED-based lighting was the way forward as it was energy efficient and environment friendly.

He said LED was expected to replace current modes of lighting in a big way in the near future.

'Already latest CONSTRUCTION [] of buildings, street lighting and giant displays are employing SSL (solid state lighting) TECHNOLOGY []. DSEM Holdings is collaborating with a host of foreign technology partners in its quest to get ahead of the SSL technology curve,' he said.

Prime Minister Datuk Seri Najib Tun Razak, who provided an ETP progress update to the media and analysts on Thursday, announced eight initiatives which were being implemented including DSEM.

DSEM is under the electronics and electrical NKEA of the Economic Transformation Programme.

While DSEM is a supplier to major US and European brands, Hong Leong Manufacturing is taking steps to transform it from contract manufacturing into a company which produces, distributes and markets its own brands.

DSEM's venture is expected to create high value jobs, especially in product development, business development and materials engineering.

This strategic partnerships is expected to have a gross national income (GNI) impact of RM300 million and create 350 jobs by 2020.

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