"Simmtech's Sustio project will bring Penang's industry to greater heights and further integrate Penang into the global semiconductor supply chain. "We take this opportunity to express our appreciation to the Federal Government, particularly the Ministry of International Trade and Industry (Miti) and Mida, for their synergistic efforts together with InvestPenang in bringing in this strategic investment. "Penang will stay committed to providing continuous support and facilitation to ensure smooth project implementation on the ground," Chow said. Chow said that Penang continues to be the country's leading Electrical and Electronics (E&E) hub and a key pillar of Malaysia's external trade. "In 2020, Penang recorded a commendable RM310 billion of exports and RM110 billion of trade surplus; contributed 32% and 60% of the country's said total, respectively. "Notably, Penang's E&E exports were valued at RM231 billion in 2020, which formed more than half of the country's total," he said.