MIDA Connects MNCs and SMEs In East Malaysia Towards A Stronger Supply Chain In The Region

The strong presence of many multinational corporations (MNCs) and large local corporations (LLCs) located here, and the very fact a few big names such as OCIM, X-Fab, Huchems Fine Chemical, LONGi, Press Metal, Cahya Mata Sarawak and Shin Yang Industries have made significant investments in Sarawak hold much promise for business collaboration and opportunities within this region

22 November 2017, Kuching – “Sarawak is certainly one of the many appealing investment destinations within Malaysia. To date, a total of 745 manufacturing projects with investments worth RM71.2 billion have been implemented in Sarawak. Through these projects, we want to create opportunities for SMEs to access global market and at the same time, encourage MNCs to utilise local products and services.The strong presence of many multinational corporations (MNCs) and large local corporations (LLCs) located here, and the very fact a few big names such as OCIM, X-Fab, Huchems Fine Chemical, LONGi, Press Metal, Cahya Mata Sarawak and Shin Yang Industries have made significant investments in Sarawak hold much promise for business collaboration and opportunities within this region,” said YBhg. Datuk N. Rajendran, Deputy Chief Executive Officer of Malaysian Investment Development Authority (MIDA) during the Supply Chain Conference for East Malaysia held today at the UCSI Hotel, Kuching, Sarawak.

“Before today’s event, MIDA has organised 4 supply chain conferences in various regions in Malaysia, focusing on the respective region’s economic strengths. With this initiative, which definitely will continue in the future, we hope that more local players would be able to build up their capacities by integrating themselves into the MNC’s supply chain,” elaborated Datuk N. Rajendran.

The one day event, jointly organised by MIDA, Regional Corridor Development Authority (RECODA) and General Electric (GE), was officiated by YB Datuk Mohd Naroden Majais, Assistant Minister for Entrepreneur and Small & Medium Enterprise (SME) Development on behalf the Chief Minister of Sarawak.

The Deputy CEO of MIDA also added, “Given the on-going technological development globally, SMEs also need to raise their efficiency levels, strengthen inter-firm linkages and respond timely to market changes in order to remain relevant and competitive. The adoption of Industry 4.0 technologies will reduce dependency on foreign labour, enhance productivity and increase production volume. Under the Budget 2018, the Government has agreed to further assist local companies to accelerate their adoption of smart manufacturing and Industry 4.0”.

These incentives include:

  • Additional matching grants of RM245 million under the Domestic Investment Strategic Fund (DISF) to upscale Smart Manufacturing facilities;
  • Extend the incentive period for Accelerated Capital Allowance (ACA) on automation equipment year of assessment (YA) 2018 to YA 2020; and
  • Accelerated Capital Allowance (ACA) up to 200% for manufacturing and manufacturing related services sectors.

The Supply Chain Conference for East Malaysia featured two panel discussion sessions undertaken concurrently. The first session was moderated by YBhg. Tan Sri Datuk Amar Wilson Baya Dandot, CEO of RECODA with key panelists from Press Metal, Cahya Mata Sarawak, LONGi and Malaysian Phosphate Additives. While the second session was a dedicated session for GE South Asia & ASEAN, mainly for the Power Generation, Oil & Gas, and Renewable Energy sectors.

Additionally, the Conference also featured a business meeting session with the participation of 11 anchor companies such as OM Materials, Harbour-Link Group, Saddad Resources, Berger International, Cosmos Chemical and Sakura Ferroalloys

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For more information, please contact:

En. Ahmad Tajudin Omar
Director, Domestic Investment Division, MIDA
Tel.: 03-2267 3627 | Email: [email protected]


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WELCOMING REMARKS BY DCEO OF MIDA

KEYNOTE ADDRESS BY ASST MINISTER OF ENTREPRENEUR AND SME DEVELOPMENT

Posted on : 22 November 2017
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Last Updated : Monday 15th October 2018