Coe Distributing To Double Furniture Import From Malaysia To Rm252 Mln

WASHINGTON DC, May 10 (Bernama) -- COE Distributing Inc., the largest furniture-only wholesale distributor in the United States, plans to double its office furniture import from Malaysia to Ringgit Malaysia (RM) 252 million over the next two to three years from the current RM126 million.
 Malaysia External Trade Development Corporation (MATRADE) deputy chief executive officer (export acceleration) Sharimahton Mat Saleh said this was due to a surge in demand for high-quality furniture made in Malaysia.
 “Apart from that, the increased tariffs imposed on China by former US President Donald Trump’s administration had made China’s furniture more expensive,” she told Malaysian media after attending a meeting with COE president and chief operating officer Michael Flaherty here, Monday. Sharimahton said currently, up to 70 per cent of COE’s office furniture is imported from Malaysia. The meeting was also attended by Malaysian Senior Minister cum International Trade and Industry Minister Mohamed Azmin Ali, who is on a 10-day Trade and Investment Mission (TIM) in the US from Tuesday until May 18, 2022. Prior to the meeting with Flaherty, Azmin had engaged with Texas Instruments Inc. manufacturing operations senior-vice president Mohammad Yunus, who expressed interest in expanding the company’s facilities in Malaysia. Founded in 1930, Texas Instruments, a US-based global semiconductor company, has 15 manufacturing sites worldwide, with 11 wafer fabs, seven assembly and test factories, and multiple bump and probe facilities. It has two production sites, namely in the federal capital Kuala Lumpur and Melaka state. In a separate statement, the Malaysian Investment Development Authority (MIDA) said Texas Instruments plans to continue expanding its facilities in Malaysia over the next 20 years, which in turn, is expected to create additional high-skilled jobs in the country. It said Mohammad expressed continuous interest in Malaysia in the design, development and manufacturing of wafer bumping and wafer probe as an expansion project for technology improvement. “Texas Instruments’ legacy in Malaysia as a significant contributor to technology dates back more than five decades. “The company’s entities here in Kuala Lumpur and Melaka have benefitted Malaysians with creation of high-skilled jobs, including hiring our graduates from local (Malaysian) universities and the spill over effect for the local industry supply chain,” it said. MIDA said Texas Instruments has a 100 per cent Malaysian workforce, with more than 5,000 employees in Kuala Lumpur and Melaka, reflecting its confidence in the local talent. “The company’s contribution to the Malaysian economy is also significant, which can be reflected in its 2.0 per cent contribution to Malaysia’s total semiconductor exports in 2021,” it said. MIDA added that Texas Instruments has been appreciative of the Malaysian government’s support throughout its existence in Malaysia, particularly during a series of the Movement Control Order (MCO) commencing on March 18, 2020. -- BERNAMA