MIDA and Xinyi Energy Smart Partnered in Supply Chain Programme to Strengthen Domestic Resilience
Malacca, 02 September 2022 – The Malaysian Investment Development Authority (MIDA) reaffirms its commitment to the country’s supply chain facilitation agenda by extending its support to Xinyi Energy Smart (Malaysia) Sdn. Bhd. (Xinyi Energy Smart)’s supply chain programme. Xinyi Energy Smart is the first overseas division of China’s leading integrated glass manufacturer, Xinyi Glass Holdings Limited.
Xinyi Energy Smart, located here at Elkay Industrial Park, Lipat Kajang, Jasin, is looking to expand its supplier base as part of its localisation plan. This supply chain programme seeks to establish a conducive supply chain ecosystem by partnering with local suppliers, vendors and service providers.
MIDA, has played an instrumental role in helping Xinyi set-up its operations here, is supportive of the latter’s supply chain programme as it opens up opportunities for local suppliers to grow and develop their business. This is in tandem with the supply chain facilitation programme initiated by the Government of Malaysia, tasked to MIDA, to assist both domestic and foreign companies get the most out of their operations here.
“MIDA’s supply chain programme aims to create opportunities for domestic companies, narrow gaps in the supply chain, support multinational companies (MNCs) and Limited Liability Companies (LLCs) in outsourcing their manufacturing activities to domestic companies, as well as develop and upgrade the domestic companies. This in turn, will encourage the growth of domestic investments and encourage the adoption and adaptation of automation and the Fourth Industrial Revolution (4IR) by MNCs, LLCs and their vendors,” said MIDA Deputy Chief Executive Officer (Investment Development), Ms. Lim Bee Vian.
“MIDA is looking forward to the success of this programme in bridging the needs and opportunities between Xinyi and our local companies. Xinyi is also looking forward to building relationships with service providers, namely haulage and transportation services. MIDA welcomes industry players to explore our dedicated resources, wide range of facilities or consultation services to assist investors in expanding their operations here in the country. Xinyi has thus far invested approximately RM2.1 billion in Malaysia and created more than 1,900 job opportunities.” added Ms. Lim Bee Vian.
“MIDA continues to be vigilant in monitoring the dynamic changing landscape and work towards maintaining a resilient business environment which attracts quality investment, integrates local companies into global supply chains and creates high-value jobs and opportunities for Malaysians. Malaysia has managed to leverage on the strengths of its local value chain to fortify the country’s supply chain resilience in delivering critical goods at the height of the COVID-19 pandemic and will continue to remain resilient to minimise any future risks.” she added.
According to Xinyi Smart Energy Managing Director Datuk Sin Ket Hin, “Xinyi is appreciative of MIDA’s efforts to identify potential partnerships between foreign and local companies. The company is well aware that domestic investments are crucial for the growth of Malaysia’s industrial development and as such is delighted to collaborate in a win-win relationship.”
“We are happy that the government has initiated the supply chain facilitation programme to assist investors to identify suitable local suppliers. This certainly will ease our efforts in sourcing for raw materials and transportation services as local suppliers sign up under our programme. We look forward to harness outsourcing opportunities offered by Malaysian companies particularly for our upstream and downstream needs,” he said.
MIDA is the Government’s principal investment promotion and development agency under the Ministry of International Trade and Industry (MITI) to oversee and drive investments into Malaysia’s manufacturing and services sectors. Headquartered in Kuala Lumpur Sentral, MIDA has 12 regional and 20 overseas offices. MIDA continues to be the strategic partner to businesses in seizing the opportunities arising from the technology revolution of this era. For more information, please visit www.mida.gov.my and follow us on Twitter, Instagram, Facebook, LinkedIn and YouTube channels.
Xinyi Glass Holdings Limited, founded in 1988 and headquartered in Hong Kong, China, was listed on the main board of the Hong Kong Stock Exchange in February, 2005. As one of the world’s leading integrated glass manufacturers, Xinyi Glass is committed to the manufacturing of high-quality float glass, automobile glass and energy-saving architectural glass, and has a sales network covering over 130 countries and regions around the world.
Xinyi Glass actively promotes the globalisation of its business and continues to improve the global strategic layout. The company established its first overseas manufacturing base in Malacca, Malaysia to produce high quality float glass and coated glass. Xinyi Glass, with a market cap of over HK$56.5 billion and an annual revenue of over HK$ 30.4 billion, now has a total industrial area of over 7.37 million sqm and over 14,000 employees.
Xinyi Solar (Malaysia) Sdn. Bhd. was incorporated on 27 November 2014 to produce photovoltaic functional glass at Elkay Industrial Park, Lipat Kajang Jasin. Its second project in Malacca is Xinyi Energy Smart (Malaysia) Sdn. Bhd, producing float glass and float coated glass. The company also manufactures laminated glass windshields. Xinyi’s investment in Malaysia is approximately RM2.1 billion, creating more than 1,900 jobs.
Ms. Rozita Ibrahim
Director, Building Technology and Lifestyle, MIDA
Email: [email protected] | DL: + 603- 2267 3479
Mr. Abdul Hazim Bin Rahmat
Senior Manager, Public Relation, Xinyi Energy Smart (M) Sdn Bhd
Email: [email protected] | DL: + 6019-2555285