Malaysian Manufacturers to Enhance Operational Efficiency, Adopt Appropriate Technologies and Explore New Markets

The plastic products industry assumes an important role in the development of the Malaysian economy. Between 2013 to June 2016, the plastics industry saw a total approved investments of RM2.91 billion in 163 projects. These investments have created 12,500 job opportunities. With more than 1,500 companies in operation today, Malaysia is among the ASEAN region’s top plastic export nation. In 2015, export of plastic products saw an increase of 8.5% to RM13 billion from RM11.9 billion in 2014. The primary export destinations include Europe, China, Singapore, Japan and Thailand.

26 September 2016, Kuala Lumpur – The plastic products industry assumes an important role in the development of the Malaysian economy. Between 2013 to June 2016, the plastics industry saw a total approved investments of RM2.91 billion in 163 projects. These investments have created 12,500 job opportunities. With more than 1,500 companies in operation today, Malaysia is among the ASEAN region’s top plastic export nation. In 2015, export of plastic products saw an increase of 8.5% to RM13 billion from RM11.9 billion in 2014. The primary export destinations include Europe, China, Singapore, Japan and Thailand.

Malaysia's moulds and dies sector has developed rapidly over the last three decades in tandem with the overall growth of the country's manufacturing sector. Increasing demand for locally manufactured parts and components has significantly boosted the demand for moulds & dies. Between 2013 and 2015, a total of 54 mould and die projects with investments of RM656.6 million were approved by MIDA. For the first six months of this year, MIDA has approved 6 mould and die projects with investments of RM37.9 million. The sector is moving towards advanced manufacturing technologies to meet demands for large moulds (more than 10 tonnes) in the automotive industry and demands for very precise moulds (less than 5 microns tolerance) for the electrical & electronics (E&E) and telecommunication industries.

“Despite the overall growth, the industry is under constant pressure to improve its performance, particularly in adopting better technology and processes such as automation to reduce labour intensive activities. To stay ahead, Malaysian manufacturers not only need to enhance their operational efficiency but also adopt appropriate technologies and explore new markets,” said Datuk N. Rajendran, Deputy Chief Executive Officer of the Malaysian Investment Development Authority (MIDA) at the Seminar on Government Policies, Facilitations & Assistance for the Plastics and Mould & Die Industries, today.

"In the present world, we are facing intense competition from new and emerging economies, ASEAN countries and developed countries in attracting investments for high value added, technology and knowledge intensive industries and R&D activities. Malaysian companies can only be competitive by producing high value added products and integrated services. We should focus on our resources to develop specialisation niches and strengthen innovation and deliver new or enhanced products or processes into global markets towards enhancing economic growth,” said Datuk Rajendran.

"Local players should take advantage of all the facilities provided by the government and upgrade their services, capabilities and production quality to meet the requirements of high value-added and advanced technology industries in becoming future global champions,” added the Deputy CEO of MIDA.

The Seminar, held at MIDA HQ, was a collaborative effort between MIDA, the Malaysian Plastic Manufacturers Association (MPMA) and Malaysia Mould and Die Association (MMADA). The initiative was part of MIDA’s on-going engagement with the business community to maintain a high performing manufacturing industry. Also present was Dato’ Raymond Sng, Vice President of MPMA and Mr Thay Peng Kee, President of MMADA. The full day seminar featured speakers from the Ministry of International Trade and Industry, MIDA, Malaysia External Trade Development Corporation (MATRADE), SME Corp, Malaysian Industrial Development Finance (MIDF) and Halal Industry Development Corporation (HDC).

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About MPMA

The Malaysian Plastics Manufacturers Association (MPMA), established in 1967, is a progressive trade association providing leadership and quality service to its members and the plastics industry. MPMA is the official voice of the Malaysian plastics industry, representing its members and the industry in Government interaction, spearheading the plastics industry’s growth and providing the platforms to assist members to be globally competitive. For more information, please refer to MPMA’s website at www.mpma.org.my

About MMADA

The Malaysia Mould and Die Association (MMADA), established in 1994 as Selangor and Federal Territory Mould and Die Association, promotes and protects the general interest of ell its members by providing the means of mutual co-operation in exchanging and exploiting technical knowledge and business development in and out of Malaysia. For more information, please refer to MMADA’s website at www.mmada.org.my

About MIDA

Malaysian Investment Development Authority (MIDA) is the government's principal promotion agency under the Ministry of International Trade and Industry (MITI) to oversee and drive investments into the manufacturing and services sectors in Malaysia. Starting operations in 1967, MIDA is the first point of contact for investors that want to take advantage of Malaysia’s vibrant economy, world-class infrastructure and business-friendly environment to set up their profit centre in Asia. For more information, please visit www.mida.gov.my

Posted on : 26 September 2016
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Last Updated : Monday 15th October 2018