Major US electronics firms in Malaysia forecast export sales to surge 15 percent this year and grow even faster in 2004 amid an upturn in the global semiconductor sector, an industry group said today.

The Malaysian American Electronics Industry (MAEI) said total sales of its 18 members were expected to increase to RM59 billion in 2003 after growth of 15.5 percent last year to RM51.3 billion.

It attributed this to a consolidation of some key semiconductor operations into Malaysia, the US economic recovery, a new cycle of computer spending, new markets and innovations.