MIGHT TO ESTABLISH AUTOMOTIVE TOOL, DIE AND MOULD (TDM) FACILITIES.

MIGHT will establish facility that will help to develop TDM part and components for the automotive sector.Read the full news from Bernama below.

MIGHT TO ESTABLISH AUTOMOTIVE TDM FACILITIES.

The Malaysian Industry- Government Group for High Technology is establishing Tool, Die and Mould (TDM) facilities to help the small and medium enterprises (SMEs) in the automotive industry.

Chief executive officer Mohd Yusoff Sulaiman said the facilities would be used as a platform for the SMEs to develop TDM part and components for the automotive sector.

He said the first facility will be located within the Standard and Industrial Research Institute of Malaysia (SIRIM), while a suitable location for the second facility is being sought.

“We are in the designing process for SIRIM facility and identifying the requirements needed by the industry. We hope to complete the facility by year end,” he told reporters after MIGHT’s annual general meeting here Wednesday.

For the facilities, Mohd Yusoff said RM300 million has been allocated under the second stimulus package announced recently.

“With the establishment of the shared facilities, SMEs can make use of the machinery and equipment there without having to buy it and then manufacture whatever part or component that they develop.

They only have to pay a minimal cost for use of the facilities and this means that the cost for SMEs will be lower and they can be more competitive, he said.

“They can supply not only to Proton and Perodua but other original equipment manufacturers,” he added.

There are about 500 SMEs vendors producing part and components in the country.

He said the facilities development would be an on going project, and in line with industry needs.

Earlier, Mohd Yusoff announced the restructuring of MIGHT’s membership structure which will give rise to two categories of membership.

Four companies – Petronas, Telekom Malaysia Bhd, Sime Darby Bhd and Khazanah National Bhd have been chosen as MIGHT Lead Members.

These companies are to provide leadership to drive future economic growth in the country, anchored on technology and innovation.

They are also key players in the sectors of energy, communications, agriculture and industry as well as in innovative technology venture financing.

The remaining members would be Ordinary Members comprising permanent, ordinary, associate and network partners.

Currently, 120 organisations are registered under MIGHT.

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