Kinpo Electronics (Philippines) Inc., the largest Taiwanese investor in the country, plans to put up another manufacturing facility to expand the range of consumer electronics it produces.
Philippine Chamber of Commerce and Industry president George Barcleon said New Kinpo Group, the parent company of Kinpo Electronics, conveyed its plan to expand its presence in the Philippine manufacturing and export sector during a recent meeting between PCCI and a 20-man Taiwanese business delegation.
Kinpo Electronics Philippines, a subsidiary of New Kinpo Group of Companies, has three factories in Laguna and Batangas employing 7,000 people to produce appliances and consumer electronics such as calculators and electronic keyboard.
“Kinpo supplies electronic parts to major electronic brands in the world. The plan to expand is a welcome news for us. This is the kind of business we would like to have in the country,” Barcleon said at the sidelines of the two-day Metro Manila Business Conference 2017.
Kinpo is a major supplier for the Chinese smartphone maker Xiomi Inc. and Japanese watch makers.
Kinpo’s new investment in the Philippines is expected to double its employment in the country to 15,000 people from the current workforce of 7,000.
Kinpo also expressed interest to explore opportunities in agro-industrial and pharmaceutical sectors, he said. The group plans an inbound trade mission in September.
Taiwan is currently one of the Philippines’ top trading partners and investment sources.
The New Kinpo Group is a leading global original design manufacturer and electronics manufacturing services partner. The group has 96,000 employees worldwide in over 23 subsidiaries.
The group produces a wide range of consumer electronics products such as calculators, printers, 3D printers, external hard disc drives, modems, and motherboards for brands like HP, Toshiba, Western Digital and Casio.
Among New Kinpo’s investments in the Philippines are the P293-million project of AcBel Polytech Inc. and P377-million investment of CalComp Electronics and Communications Co.
AcBel produces light-emitting diode lighting and smart grid solutions while CalComp manufactures handsets, printers and liquid-crystal-display televisions.
New Kinpo’s subsidiaries also include contract notebook and PC maker Compal Electronics Inc.