kuala lumpur: Malaysia Industrial Development Finance Bhd (MIDF) aims to disburse RM200 million from the Ministry of Investment, Trade and Industry (Miti) to help 100 Malaysian SMEs upgrade to smart factories by 2027.
The program – Future Ready Financing (FRF) – aims to create more than 500 high-skilled jobs in manufacturing and manufacturing-related services.
Deputy Minister of Investment, Trade and Industry Liew Ching Tong said the program is a pioneering initiative that brings together the government’s efforts to empower small and medium-sized enterprises and strengthen economic resilience.
“We launched FRF with the goal of enabling small and medium-sized enterprises to excel in high-end manufacturing and manufacturing-related services,” he said at the FRF launch today.
The collaboration is led by MIDF through the FRF programme, with support from Malaysian Technology Development Corporation (MTDC), Malaysian Institute of Standards and Industry (Silim) and solution providers.
“This partnership will deliver targeted financial products, expert advisory services and advanced technology to drive automation, increase operational efficiency and, importantly, reduce reliance on unskilled foreign labor.” We provide solutions,” Liu said.
He said MTDC and Sirim play a pivotal role by assessing technical readiness, matching SMEs with suitable solution providers and recommending SMEs for MIDF financing. Ta. “This approach ensures that SMEs not only have the financial strength but also the support of expertise to successfully integrate smart technologies and grow sustainably.”
Mr Liew said the program is in line with Malaysia’s New Industrial Master Plan 2030 (NIMP 2030) and the FRF is a step towards building a resilient technology-driven economy.
“Malaysian SMEs are the backbone of our economy, contributing 38% of our GDP (Gross Domestic Product) and providing almost half of our employment.To achieve our industrial goals under NIMP 2030 , the empowerment of small and medium-sized enterprises is essential,” he added.
Liew hopes that through this program, small and medium-sized enterprises will adopt Industry 4.0 technology, access real-time data analysis, engage in precision manufacturing, and fully deploy smart factory systems.
MIDF Chairman Tan Sri Abdul Rahman Mamat said he believes empowering local SMEs is the cornerstone of building a resilient and innovative Malaysia. “FRF reflects our dedication to that vision, supporting small and medium-sized businesses with customized financial tools, resources and knowledge to sustainably grow.”
On another issue, Liew told reporters that the Chinese government was expected to issue a statement on sanctions imposed by the US State Department on six Malaysian companies over alleged ties to Russia and the ongoing war in Ukraine. Ta.
The six listed companies are Zeolite Mansford Sdn Bhd, Centrina United Sdn Bhd, Gyntec Carbon Sdn Bhd, Moralability Industry Sdn Bhd and Melix Global Sdn Bhd.
The US State Department said in a press release on October 30 that the sanctioned companies are among 120 individuals and entities across multiple countries. “It aims to disrupt sanctions evasion and target companies from multiple third countries, including China, India, Malaysia, Thailand, Turkiye, and the United Arab Emirates,” the ministry said.
