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Business

Penang eyes foreign companies to set up IT operations

KUALA LUMPUR -- Penang, an island north of Peninsular Malaysia, is home to a growing number of multinational companies setting up back office operations, lured by offers of tax breaks and abundant local talent.

     Hong Kong-based Kerry Logistics Network is the latest to open an information technology services center, joining more than 20 companies already there, including AirAsia, Citigroup, Dell and Wilmar International. The IT center will serve the integrated logistics company's operations in Southeast Asia as it expands in the region. China and Hong Kong account for nearly 60% of its sales currently.

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