Business expansion including new R&D for commercial air-conditioners, air-to-water heat pump systems and automotive capacitors business investments in Klang Valley, says Panasonic.
Contrary to recent media reports on Panasonic sunseƫting its operations in Malaysia, the company remains firmly committed to continually investing in the country and contributing to its economy and people.
Panasonic considers Malaysia a critical and strategic regional hub and a strong investment destination.
As of March 2023, Panasonic has around 18,000 employees across various business entities in Malaysia, including high-value manufacturing, R&D, and headquarters operations.
In manufacturing alone, Panasonic employs close to 16,800 workforce. Panasonic Group’s contribution to Malaysia’s GDP is approximately 1 percent, and its total capital investment in Malaysia amounted to RM1.23 billion as of March 31, 2023.
Panasonic will be looking to strengthen its business in areas expecting further growth, such as automotive, environmental, and health and well-being.
Near-term business expansion in the country includes a new R&D building for commercial air-conditioners and air-to-water heat pump systems as well as increased production of automotive capacitors in the Klang Valley.
After much deliberation, the decision to shutter two Panasonic Manufacturing Malaysia Berhad’s departments—rice cooker and small kitchen appliances were made to align with the Group’s global production and strategic growth plans.
The move was also to enhance operational efficiency. The closures were not related to the lawsuits involving employees and suppliers as alleged in some media reports.
The rationalisation exercise affected 223 employees. Of these, 95 opted for the mutual separation scheme (MSS) and the remaining 128 were reassigned to other departments. Those who opted for the MSS received fair and equitable compensation packages.
At the same time, those who were reassigned have been given opportunities for reskilling and training to help them pick up new capabilities and advance in their careers.
Panasonic is continuously looking to develop and expand its businesses in pro-enterprise environments, both in the region and globally, which align with its policies and strategies.