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MIDA confident of drawing high quality investments this year

The Malaysian Investment Development Authority (Mida) is confident of attracting high quality investments in the manufacturing sector this year despite the global economic uncertainty and plunge in oil prices.

Its CEO, Datuk Azman Mahmud, said Mida was confident of maintaining the momentum in investments flowing into Malaysia in 2016 as the country’s fundamentals were strong.

“Today more people are confident (of investing) in Malaysia. There are no signs showing investments are in downward trend.

“We can maintain the momentum in investments coming into Malaysia this year,” he said. He told a press conference this after attending the official opening ceremony of Oncogen Pharma (M) Sdn Bhd’s Research and Development (R and D) Centre at Glenmarie, near here.

Azman was commenting on Mida’s overall investment outlook this year considering Malaysia’s competitiveness as a location of choice for high-tech investment in the region.

Mida had approved some RM153.2bil of investments in the manufacturing sector for the first nine months of last year and RM235.9bil for the whole of 2014. The 2015 full year figures will be announced on Feb 29.

Azman said many investment deals were in the pipeline and as such, there were no signs that indicated that investors were pulling out from their planned investments in Malaysia.

Meanwhile, Oncogen Pharma CEO, Junaid Waheed, said the company’s R and D centre was the first Oncology Active Pharmaceutical Ingredients (API) research centre in Asean that complied with the United States Food and Drug Administration (US FDA) standards.

He said the centre would be a path-breaking beginning in the company’s vision and commitment to supply high-quality oncology products that complied with all the stringent international regulatory requirements at affordable prices to majority of cancer patients. “These products will be researched, developed and patented in Malaysia, and will then be supplied to all over the world including the US and European markets,” he said.

Source : The Star

MIDA confident of drawing high quality investments this year


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Source : NST

Mida targets 100 more IBS manufacturing firms


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Despite the global economic uncertainties, Malaysia has continued to attract strong interest with RM71.8bil investments recorded in the first seven months of this year.

Malaysian Investment Development Authority (MIDA) chief executive officer Datuk Azman Mahmud said the figure was from 262 projects in the pipeline involving new investments and expansions of existing ones in the manufacturing and services sectors.

“The investments are expected to be realised within the next one to two years,” Azman told reporters at the ground breaking ceremony of the RM30.6mil new plant for the Germany-based SEW Eurodrive at Frontier industrial park in Ulu Tiram near here.

The company is leader and pioneer in drive-based technology automation.

Source : The Star Online

Mida: Strong interest in Malaysia


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In efforts to ensure Malaysia’s competitive advantage in the green technology industry, Malaysian Investment Development Authority (MIDA) and Malaysian Green Technology Corporation (GreenTech Malaysia) are jointly rolling out an investment tax allowance (ITA) for the purchase of green technology equipment/assets and income tax exemption (ITE) for green technology service providers.

Under the leadership of the Ministry of Energy, Green Technology and Water (KeTTHA), the incentives aim to catalyse investments in the adoption of green technology as well as promoting the purchase of certified green technology products.

The tax allowances and exemptions is meant to encourage the use of green technology in the sectors of renewable energy, energy efficiency, green buildings, data centres, waste management and electric mobility.

CEO of MIDA, Dato’ Azman Mahmud says: “We would like to encourage more companies to implement greener practices by generating energy from renewable energy sources, installing energy efficient equipment, and decreasing their waste through various recycling initiatives with the aim to ultimately reduce the greenhouse gas emissions to the environment.”

The 100% ITA is specifically for qualifying capital expenditure incurred on green technology projects or the purchase of green technology assets that are listed under the MyHIJAU Directory, which offers a one-stop centre for internationally and locally certified green products and services.

Source : Business Today

Special Incentives on Going Green!


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