KUALA LUMPUR – Dexcom Inc will begin construction of its manufacturing facility on an 11.33ha site in the Batu Kawan Industrial Park early next month, after missing its initial target of the second half of 2020.
The delay was caused by the movement control order and cross-border travel restrictions, said Datuk Loo Lee Lian, chief executive of InvestPenang, which is the state government’s principal agency for investment promotion.
She said Dexcom is also working closely with the Malaysian Investment Development Authority, Immigration Department, Penang Development Corporation and local council to facilitate the project’s execution.
“The progress is largely on track, and the project plan remains unchanged.
“The construction is expected to take at least 12 to 14 months to complete,” she told Bernama.
The facility, which is Dexcom’s third and latest, is its first outside the United States.
The company develops, manufactures and distributes continuous glucose monitoring (CGM) systems for diabetes management.
With a revenue of US$1.5 billion (RM6 billion) in 2019, Dexcom is a globally recognised data-driven innovative medical technology firm.
The S&P 500 constituent is a CGM systems pioneer that is reshaping the industry landscape, causing a profound impact on the lives of people living with diabetes.
There were some 450 million diabetic adults worldwide in 2019.
Loo said Penang recorded RM10.6 billion in total investments in the first nine months of 2020.
This year, the state will continue to focus on strengthening its competitive edge to attract high-quality foreign and domestic manufacturing direct investments, she said.
“The availability of qualified talent is a critical factor in attracting foreign and domestic investments, and the state’s success in attracting strategic investments translates into thousands of new, high-quality jobs every year.
“This has made Penang the talent magnet in the northern region. The state will endeavour to identify, nurture and develop local talent and the economy to their fullest potential.” – Bernama, January 26, 2021
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