GEORGE TOWN, PENANG – It has come to investPenang’s knowledge that there is information circulating in the social media stating partial closure, shutdown and layoffs by factories in Penang.
investPenang has spoken to the factories listed and many denied the accuracy of the news. Many of these companies are listed locally and abroad and these fake news may have impact on their share prices and the morale of their employees. These affected companies are seeking legal advice before deciding on their next course of action.
Internal human resource restructuring exercise is usually carried out to meet changing market conditions and demand. The manufacturing investment and employment situation in Penang remains stable as 98% of the Penang working population is currently gainfully employed.
The public is advised to desist from circulating this fake news as it is an offence under Anti-Fake News Act 2018 which carries a fine of up to RM500,000 or jail term up to 6 years or both.
Dato’ Seri Lee Kah Choon
Special Advisor to the Chief Minister
Director of investPenang
