KUALA LUMPUR, Sept 15 (Bernama) --
The Malaysian Investment Development Authority (MIDA) kick-started the Automation Project Initiative (API) by hosting 11 participating companies and 20 system integrators at MIDA Sentral. This initiative aims to enable businesses to adopt automation and smart manufacturing technologies in their business processes and operations.
Among the companies in attendance include Continental Resource Sdn. Bhd., Ecava Sdn. Bhd., XTS Technologies Sdn. Bhd., Sky-Tag Robotics Sdn. Bhd., Vepro Group Sdn. Bhd., TXMR Sdn. Bhd., I-Stone Group Berhad, IME Group and Packaging Sales & Service (M) Sdn. Bhd.
In his welcoming remarks, Dato’ Azman Mahmud, the Chief Executive Officer of MIDA, highlighted on how automation is crucial for the sustainability of business operations. He emphasised, “Automation is not an option anymore. Automation of activities can enable businesses to improve performance, by reducing errors and improving quality and speed, and in some cases achieving outcomes that go beyond human capabilities. Automation also contributes to increasing productivity. At a time of lackluster productivity growth, this would give a needed boost to economic growth and prosperity.”
“With machines that are now highly adaptable and reprogrammable through artificial intelligence and software; coupled with the rapid developments of Big Data, cloud computing and the Internet of Things, companies need to proactively begin their automation journey,” he added.
The event included a comprehensive presentation from MIDA regarding the various automation and Industry4WRD facilitation offered by the Government. These include the Domestic Investment Strategic Fund (DISF), Industry4WRD Intervention Fund, Automation Capital Allowance and Digital Technology Acceleration Programme (DTAP) that are in place to assist companies in their automation journey.
A total of 318 applications have been approved for the automation capital allowance as of September 2020. Companies that have leveraged on these facilities have experienced tangible benefits of automation. Based on the impact analysis of 245 projects approved as of 31 December 2019, these companies have invested more than RM430 million in automation, machinery and equipment. As a result, companies reported an average of 180 per cent improvement in production volume as well as cost savings from the reduction of over 3,600 unskilled workers.
A pitching session was also held during the event to match participating companies with relevant system integrators and factory automation players. This platform provided both parties with a valuable space to discuss attainable action plans towards achieving their business goals with automation.
“Among of the biggest misconceptions surrounding automation are the high cost of adoption and the scale of undertaking that requires the revamping of the entire production line. In reality, companies can start with simple devices to enable data collection, analytics and gradual enhancements to more sophisticated machinery and equipment that is adaptable to artificial intelligence and other Industry 4.0 technology. Today’s event is a crucial stepping stone for organisations to quantum leap their automation journeys by connecting them with fellow industry players and solution providers. MIDA will do our level best to support and facilitate these automation undertakings to success,” said Dato’ Azman. About MIDA
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 the manufacturing and services sectors in Malaysia. 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 and Facebook, LinkedIn and YouTube channel.
Photos of the event are also provided in the following link to be featured together with the media release: https://bit.ly/2RpSXBISOURCE: Malaysian Investment Development Authority (MIDA)
FOR MORE INFORMATION, PLEASE CONTACT:
Name: Mr. Jeyasigan Narayanan Nair
Director, Machinery and Metals Division
Tel: 03-2267 6711