On the right track

  • Community
  • Thursday, 07 Jan 2016

(From right) Yeo, Lim and Ng posing for a photo at the opening ceremony of Kerry Logistics’ Information Technology Development Centre in Bayan Baru, Penang.

MORE than RM4bil in investments into Penang between 2009 and 2014 had come from global business service (GBS) companies with MSC status and the sector is expected to grow by 60% over the next three years.

Chief Minister Lim Guan Eng said these GBS companies had created over 8,000 jobs in the state, serving the international market.

The largest GBS operations in the state, he said, was Citigroup’s Global Financial Credit Transaction Hub which processed 32 million transactions totalling USD$7.2tril (RM30.9tril) annually.

“The numbers are expected to grow by 60% over the next three years,” Lim said at the launching of the Information Technology Development Centre of Kerry Logistics in Bayan Baru on Monday.

Multimedia Development Corporation chief operating officer Datuk Ng Wan Peng in her speech said there were close to 400 GBS companies in the country and about 70% of them were multinationals.

These companies, she said, operated in Penang, Cyberjaya and Johor, and formed the seed to boosting the nation’s services sector contribution to the national gross domestic product value.

“GBS companies will play a major role in boosting our services sector GDP contribution from about 50% to more than 60% in the next few years,” Ng said.

GBS companies are businesses that provide corporate, development or administrative services to the offices or subsidiaries of the parent company worldwide.

The IT Development Centre of Hong Kong-based Kerry Logistics will serve as an offshore support centre for its different offices globally in a bid to lower operating costs.

Also present were Penang Institute director and Bukit Mertajam MP Steven Sim and Kerry Logistics chairman George Yeo.

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