GEORGE TOWN, April 11 -- There are no massive retrenchments or company shutdowns in Penang due to the tariffs imposed by the United States, according to state's investment promotion agency InvestPenang.

InvestPenang chief executive officer Datuk Loo Lee Lian said most companies in the state are going back to the drawing board to see how to best cushion the impact of the tariffs.

"There are no massive company shutdowns or relocations due to the tariffs imposed, most of them are in discussions to realign their supply chain at this moment," she said in a press conference with Penang chief minister Chow Kon Yeow after a roundtable discussion on strategic response to US tariffs at Penang Institute here.

She added that the production schedul...