WEDNESDAY, 1 NOVEMBER 2017, KUALA LUMPUR: Malaysia External Trade Development Corporation (MATRADE) continues to push the growth of Malaysian Mid-Tier companies (MTCs) to be the key industry players to driving international trade, given its strength in capacity and readiness in export. The message was what transpired during the Mid-Tier Companies Business Conference held at Menara MATRADE today.
With the theme “Beyond All Limits’, the conference was attended by more than 150 MTCs from various sectors such as Electrical & Electronics (E&E), Information, Communication & Technology (ICT) and Food & Beverages, among others. The highlights of the conference included experience-sharing session by the CEOs of LH Plus, Cape EMS, Asturi Metal Builders, Upstream Downstream and Perfect Food Manufacturing. The CEOs shared their real life experience in facing export challenges before achieving their global success. Market and industry-focus talks also took place featuring sessions by financial and business experts from Ekuinas, OCBC Bank, UOB Bank, Steinbeis Malaysia and PwC Malaysia.
During the conference, the Malaysian Consortium of Mid-Tier Companies (MCMTC) was also launched by YB Dato’ Sri Mustapa Mohamed, Minister of International Trade and Industry. The MCMTC is a private-led initiative aims at promoting MTCs sustainable growth amidst competitive global economic landscape by capitalising strategic alliances. The MCMTC was also the co-organiser of the conference.
The President of the MCMTC, Mr Callum Chen from LH Plus Sdn Bhd noted that that all local MTCs are eligible to be part of the MCMTC. “By being part of the group, MTCs will get to widen their business opportunities abroad, in both trade and investment,” he said.
The conference and the MCMTC complement MATRADE’s signature capacity building programme called Mid-Tier Companies Development Programme (MTCDP) which is designed to boost Malaysian MTCs ability and agility to compete in the global markets. Currently a total of 173 companies from multiple sectors such as E&E, ICT, automotive parts and components, plastics, franchise, oil & gas and processed food have participated in the programme. MTCs are companies with annual revenue of between RM50 million to RM500 million in the manufacturing sector and RM20 million to RM500 million in the services sector.
According to MATRADE’s Deputy Chief Executive Officer Puan Sharimahton Mat Saleh, MTCs play a pivotal role to the Malaysian economy. “MTCs account for 1 percent of business establishments in Malaysia but their contribution to our GDP is 30 percent. The MTCs also generate 22 percent of job opportunities for the country,” she mentioned.
In 2016, the total export revenue of 152 MTCs grew by 10.41 per cent to reach RM6.82 billion, compared to RM6.18 billion in 2015. This year, 21 MTCs have been recruited to be part of the programme’s Wave 4 and are now completing the 9-month programme.