KUALA LUMPUR, Dec. 15 (Xinhua) -- Japan's IPS Alpha Technology Ltd and Panasonic Group will invest more than 65 million ringgit (18.26 million U.S. dollars) in a Malaysian facility to produce liquid crystal display (LCD) television, Malaysian media reported on Monday.
The new entity, known as IPS Alpha Technology Malaysia Sdn Bhd,will start operation by February 2009 with an initial output of 50,000 units a month. This can be raised to 3 million units a year atfull capacity.
The company will operate as a subsidiary of IPS Alpha Technology Himeji which is building a mass production hub for latest LCD panels in Japan.
"About 30 million ringgit (8.43 million U.S. dollars) is used as capital while investment based on initial production is about 35 million ringgit (9.83 million U.S. dollars)," the New Straits Times quoted Panasonic as saying.
IPS Alpha will set up the production line within Panasonic's TVproduction plant in Shah Alam, capital of Malaysian central Selangor state.