Malaysia’s M&E exports hit RM34.4 bil in first seven months of 2022
15 Sep 2022
Malaysia’s machinery and equipment (M&E) exports reached RM34.4 billion in the first seven months of 2022, an increase of 25.5% from the corresponding period last year, said the Malaysia External Trade Development Corporation (MATRADE).
MATRADE deputy chief executive officer (export acceleration) Sharimahton Mat Saleh said M&E is an important industry to Malaysia and the seventh largest export sector, with a value of RM49.9 billion, making up 4% of Malaysia’s total exports in 2021.
“M&E has recorded double-digit growth by 26.6% in 2021 with the value of RM39.5 billion in 2020, exporting to markets such as Singapore, United States, China, Indonesia and Thailand.
“Machines and apparatus used principally for manufacturing semiconductors, parts, and accessories are the largest export segment, valued at RM8.8 billion or 17.5% of total M&E exports in 2021.
“The growth of M&E is expected to even continue and grow further,” she said at the official launch on Wednesday of METAHOVER, a product of the RM1 billion joint venture collaboration between Metalmach Micro Technology Sdn Bhd (MMT) and auxiliary materials partner from China, Future Hover Industrial Co Ltd (Future Hover).
The collaboration is aimed at obtaining up to RM1 billion annually in export revenue in the next 10 years, with the establishment of a factory in Malaysia, leading to the creation of over 500 job opportunities.
Sharimahton said with MMT’s four decades of experience in precision machining, as well as mold and die fabrication, MATRADE believes that the company has the capabilities to produce high-quality machine parts and components used in various sectors.
“MATRADE applauds this joint venture between MMT and Future Hover whereby both parties could complement each other strength in producing a more diverse range of high-tech products in Malaysia.
“Apart from expanding to the wider market beyond Southeast Asia, I believe that this collaboration in technology transfer from Future Hover will also enable MMT to be a one-stop solution provider for the semiconductor industry,” she said.
MMT operation director Low Kim Yoong said METAHOVER stands tall within the semiconductor supply chain and is able to handle the end-to-end process of semiconductor assembly with some of the most competitive pricing in the world.
“We are confident in our position in making Malaysia the preferred destination for semiconductor exports in the world and we look forward to working closely with MATRADE,” he said.