Cargo volume handled by PFFA likely to stay flat

Since January 2023, the cargo volume at the Penang International Airport has slowed significantly compared to the corresponding period last year.

Honorary secretary-general Ali Ahmad told StarBiz that since January 2023, the cargo volume at the Penang International Airport had slowed significantly compared to the corresponding period last year.“Before the slowdown, a multi-national corporation would ship out about 2,000 to 3,000 kgs of electronic components daily in multiple shipments. Since January 2023, the daily shipment hovers around 30 to 100 kgs.

Ali said E&E components comprise over 70% of the cargo exported and imported and would continue playing an essential role in driving up the volume of freight handled in Penang. The rate to Europe from Malaysia currently hovers between RM14 and RM15 per kg compared to RM21 per kg a year ago.According to the international research house Gartner, the global semiconductor revenue is projected to decline 11.2% in 2023.The short-term outlook for the semiconductor market has deteriorated further. Global semiconductor revenue is forecast to total US$532bil in 2023.

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