Taiwanese electronics company, New Kinpo, recently announced that its newest factory in the Philippines will start operations by the end of first quarter this year.
New Kinpo Chief Executive Officer Simon Shen said that the focus of company’s operation is to be the main production base of consumer electronics products such as calculators and electronic keyboard for a known Japanese brand.
Last year, New Kinpo invested US$31.5 million or Php 1.4 billion to set up this new factory in Batangas which will be operated by its subsidiary Kinpo Electronics Inc. They also announced that they intend to invest another US$31 million for the factory’s expansion this year. These projects are expected to employ 4,000 to 6,000 workers.
With these new investments, the company is expecting to contribute around 10 percent to 30 percent of the New Kinpo’s total revenue this year.
“We are continuously bringing to fruition government’s efforts to boost Philippine economic relations with Taiwan as we welcome more inbound trade missions from Taiwan and enable businesses like New Kinpo to flourish in the Philippines,” Department of Trade and Industry (DTI) Undersecretary Ponciano C. Manalo, Jr. said.
With the growth of companies like the Kinpo Electronics Group in the Philippines, Manalo noted that the country takes part in Taiwan’s progress as a major supply chain source of industries in the region. Taiwan is currently one of the Philippine's top trading partners and investment sources.
Through the assistance of the Department of Trade and Industry, the Philippine Trade and Investment Center in Taipei and the Philippine Economic Zone Authority (PEZA), Kinpo Electronics Group has been able to set up and operate factories in the Philippines.
The Group’s previous investments in the Philippines include its subsidiaries such as AcBel Polytech Inc. for the manufacture of light-emitting diode (LED) lighting and smart grid solutions, and CalComp Electronics and Communications Co. for the production of handsets, printers, and Liquid-crystal-display televisions (LCD TV).
Kinpo Electronics Group is a leading global original design manufacturer (ODM) and electronics manufacturing services (EMS) partner. At present, the group has a total of 96 thousand employees worldwide and has 23 subsidiaries, wherein seven are publicly listed corporations. New Kinpo is one of the major subsidiaries of Kinpo Group.
The group produces a wide range of consumer electronics products such calculators, printers, 3D printers, external hard disc drives, modems, and motherboards for brands like HP, Toshiba, Western Digital, and Casio. (END)