One Relocation Company Conducts a Groundbreaking: BKPM Chairman Believes this is a Symbol of Economic Awakening

Subang, 21 July 2020 – One by one the investment plans submitted by seven companies that decided their relocation to Indonesia began to realize. On July, 21, the Indonesia Investment Coordinating Board (BKPM) Chairman, Bahlil Lahadalia, with the Governor of West Java, Ridwan Kamil, and the Regent of Subang, Ruhiyat, attended the groundbreaking ceremony of PT Meiloon Technology Indonesia (MTI) in Subang, West Java.

Bahlil said that this ceremony was very special because amid the COVID-19 pandemic that is still ravaging Indonesia, there are companies that are hiring employees. MTI has a
strong commitment to realize their relocation from China to Indonesia.

“We know that investment is the key to job creation. MTI will recruit workers from Subang and supply products as much as possible from West Java entrepreneurs. This is the
right momentum to encourage local entrepreneurs or MSMEs in the regions. Investment is not only in Jakarta,” Bahlil added.

Bahlil emphasized that Government will not restrict foreign investors entering Indonesia. The Central and Regional Governments must collaborate to develop regional economic growth.

“I remember the President’s direction to simplify the permits. Governments have to accelerate licensing based on existing regulations. The Subang Regional Government can be a good example in accelerating investment,” said Bahlil.

West Java Governor, Ridwan Kamil, expressed his appreciation and joy with the presence of MTI in the West Java region. West Java is ready to open its doors as wide as possible
for investment while maintaining the health protocol. This Subang area is a gold zone in the future, with infrastructure readiness and accessibility.

“I want this to be a symbol of economic revival in the COVID-19 pandemic. I am sure if this works, the economy of West Java will jump. Of course, the Indonesian economy will be greatly magnified. Investors must also maximize their partnership with West Java entrepreneurs. Success for Meiloon, and hopefully this will be the beginning of the rise of Subang, West Java, and Indonesia during the COVID-19 pandemic,” Ridwan stressed.

As the host of the investment location, Subang Regent, Ruhiyat, expressed his gratitude to BKPM for overseeing investors coming to Subang, West Java. It is hoped that this can
foster optimism and economic growth in the Subang region.

“With Meiloon’s investment of USD90 million, it certainly can encourage economic growth and provide benefits to the people of Subang. This must be part of the economic cycle in Indonesia. From the planned 8,000 workforces that will be absorbed, we hope 80% come from Subang Regency. We will work together to conduct a training for them to increase their skill capacity so that the economic stage of the community will automatically increase,” said Ruhiyat.

Meiloon Group Chief Financial Officer (CFO), Eva Kuo, also expressed her appreciation for BKPM’s facilitation in launching the company’s investment relocation permit process.
The MTI construction phase is planned to be completed in November 2020 and will begin production before the end of the 2nd semester of 2020.

“In February 2020, we were almost desperate to take care of the permit. However, after meeting with BKPM, we received tremendous assistance in managing central and
regional licensing,” Eva said.

Meiloon is a speaker manufacturer from Taiwan who relocated its factory in Suzhou, China to Subang, West Java. The investment value of the relocation is USD90 million and will
absorb approximately 8,000 workers in Indonesia. The production will be exported by 100%. MTI is a subsidiary of Meiloon in Taiwan which has been established since 1973 and has been listed on the Taiwan Stock Exchange since 2001.

Besides MTI, six other companies that have relocated their factories to Indonesia are PT Sagami Indonesia (Japan), PT CDS Asia (Alpan Lighting) (United States), PT Kenda
Rubber Indonesia (Taiwan), PT Denso Indonesia (Japan), PT Panasonic Manufacturing Indonesia (Japan), and PT LG Electronics Indonesia (South Korea). The investment plan for the seven companies is estimated to reach USD850 million. Employment absorption is estimated at 30,000 workers with investment destinations in Central Java, West Java, Banten, DKI Jakarta, and North Sumatra. (*)