PHILIPPINE TRADE & INVESTMENT CENTER TAIPEI
  • Home
  • Doing Business
  • News
  • Events & Announcements
  • Feature
  • Gallery
  • Contact
  • Press Releases

Taiwan’s New Kinpo Group names Philippines its southeast Asia manufacturing hub

7/13/2018

 
Picture
TAIPEI (Taiwan News) – Taiwan electronics conglomerate, New Kinpo Group (NKG, 新金寶集團) will make the Philippines its southeast Asia manufacturing hub through funds raised by an initial public offering (IPO) of its Philippines arm, Cal-Comp Technology (Philippines) Inc.

NKG plans to build two new manufacturing facilities, buy new equipment and invest in research and development in the Philippines, through an IPO estimated to be worth PHP$6.77 billion (NTD$3.86 billion).
​

NKG is transforming the Philippines into its regional hub because the company is optimist about the Philippines' economic future.
"We are ramping up investments in the Philippines because we believe in the country's economic potential." NKG Chief Executive Officer Simon Shen (沈軾榮) said in a statement, according to BusinessWorld.

The move takes place as NKG winds down its manufacturing in China, and follows a trend of the Taiwanese company moving its manufacturing bases from China to the Philippines.

NKG opened its first Philippines electronics factory in April 2015, employing over 8,000 people as the company began to roll-back its manufacturing in China.

At the time, Shen said "we were early to see manufacturing potential in the Philippines, with sufficient labor talent, a stable political environment and proper infrastructure, and will bring additional business here in the future as the conditions are ideal for EMS [electronics manufacturing service] companies like New Kinpo Group" in a press statement.

The IPO has been filed with the Philippines' Securities and Exchange Commission, with 378.07 million shares available to the public by the end of the year. 

By: Scott Morgan, July 13, 2018
Source: Taiwan News
Photo: New Kinpo Group Website 

Comments are closed.

    Picture
    ABOUT PTIC TAIPEI
    The Philippine Trade & Investment Center in Taipei is the Commercial Affairs Section of the Manila Economic and Cultural Office and the representative office of the Philippine Department of Trade & Industry in Taiwan​

    Archives

    November 2020
    October 2020
    September 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    February 2018
    January 2018
    September 2017

Proudly powered by Weebly
  • Home
  • Doing Business
  • News
  • Events & Announcements
  • Feature
  • Gallery
  • Contact
  • Press Releases