Penang government announced its second-biggest foreign direct investment this year from a UK multinational medical equipment manufacturing company Smith+Nephew Plc.

Benefitting from the US-China trade war, foreign direct investments into Penang leapt 11 fold to about US$2 billion in the first half of this year, much more than it has attracted in any other full year.

Chief Minister Chow Kon Yeow, who made the announcement, witnessed the exchange of agreement between the company and Penang Development Corporation general manager Mohd Bazid Abd Kahar in Komtar today...