“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
For more information, please contact:
Ahmad Tajudin Omar