Riding the AI supercycle: Penang’s Mi Equipment pours millions into expansion
GEORGE TOWN, July 28 — Mi Equipment, a homegrown semiconductor powerhouse based in Bayan Lepas, is pouring millions into an ambitious expansion to capture the global “AI supercycle.”
The investment will bolster the firm’s research and development (R&D) in advanced packaging and cutting-edge bonding processes. Chief Executive Officer Teo Chee Kheong saod that the company is pivotally positioned for the AI boom, with AI-related activities already contributing between 20 per cent and 30 per cent of its total revenue.
“So all the machines, we have AI components in it. And if you talk about the AI ecosystem, maybe we are around 20 per cent to 30 per cent of our revenue now is AI-related, very AI-related,” Teo told reporters during an official visit by Penang Chief Minister Chow Kon Yeow today.
Beyond hardware, the expansion represents a massive bet on Malaysian expertise.
Teo said that the company’s future is tethered to local talent, with plans to deepen collaborations with universities to develop a sustainable pipeline of engineers.
“We are going to invest heavily in people, local talent, because I think that’s the key to our company,” Teo said.
This commitment to the local workforce is already a hallmark of the firm. Chow lauded Mi Equipment for remaining firmly rooted in the state, noting that a remarkable 99 per cent of its workforce consists of Malaysians.
The company’s trajectory highlights its evolution from a 2007 startup into a global contender. By 2014, its flagship Mi series had cemented its dominance in the die-sorting market. Following its listing on the stock exchange in 2017, the company embarked on a 10-year diversification roadmap, venturing into smart binning for high-performance computing and advanced die-level testing.
Today, Mi Equipment’s footprint spans the globe with seven sales and service offices, an R&D centre in Singapore, and a manufacturing facility in Suzhou, China.
With over 110 IP rights granted, the company is targeting three high-growth sectors: mobility wearables, automotive, and AI infrastructure.
“So, this technology and this segment penetration will help us to ride the current AI supercycle,” Teo added, noting that the company’s product suite is purpose-built for this technological shift.
The expansion also aligns with state-driven industrial goals. Mi Equipment is a key player in the Penang ATE (Automatic Test Equipment) Campus, an initiative launched in April to accelerate the scaling of local semiconductor solutions.
Chow noted that the initiative aims to build an integrated ecosystem that enables the first customer deployment of Malaysian-made ATE solutions through structured co-development. With its new expansion phase now underway, Mi Equipment is set to play a lead role in that vision.
