KUALA LUMPUR: 3REN Bhd's wholly-owned subsidiary Sophic Automation Sdn Bhd has inked a memorandum of understanding with regards to its acceptance of a financial incentives package from Invest-In-Penang Bhd for the development of integrated circuits designs into products.
In a filing with Bursa Malaysia, the auomation solutions and engineering services group said the incentives period commenced on May 14, 2025, to be renewed on a year-to-year basis for a period of three years.
Accordig to 3REN, it is expanding its capabilities in specialised IC design and development.
"This includes IC development targeting hardware-level optimisation for Internet of Things (IoT) in industrial automation applications and silicon validation solutions to unlock greater value and long-term business returns," it said.
With increasing geopolitical trade tensions and a global semiconductor supply chain
shift to Southeast Asia, the incentives provided by Invest Penang will facilitate 3REN’s enhancement of its IC design and development capabilities to strengthen the local ecosystem, competitive strength, supply chain resilience and technological independence.
Additionally, the incentive package is expected to offer opportunities to collaborate with local fabless IC design firms, EDA tool providers and academic institutions, further enhancing its access to IC design and development technologies.
