TUESDAY, JUNE 5, 2018, KUALA LUMPUR: Malaysian companies that participated in the International Sourcing Programme (INSP) held in conjunction with SEMICON South East Asia Exhibition 2018 recently have successfully reaped potential export sales of RM289.1 million. The signature business matching – INSP – was organised by Malaysia’s trade promotion agency, Malaysia External Trade Development Corporation’s (MATRADE).
Held for the fourth consecutive time, the INSP saw a total of 84 business meetings coordinated for 49 Malaysian companies with 12 buyers from South Africa, the USA, Brazil, Germany, China, Sri Lanka, Myanmar, Singapore and Vietnam. Among the products and services sourced included embedded systems solutions, machinery and equipment for the semiconductor industry (vision inspection, wire bonding, die sorting), telecommunication and power cables, printed circuit boards, electronic manufacturing services and Industry 4.0 solutions.
Supported by the Ministry of International Trade and Industry Malaysia and the Malaysian Investment Development Authority, the initiative was part of MATRADE’s promotion for the local Electrical & Electronics (E&E) sector in facilitating the growth of the key sector, which contributed 27.8 per cent to the country’s Gross Domestic Product (GDP).
In 2017, Malaysia’s E&E exports were valued at RM343 billion, accounting for 36.7 per cent share of the country’s total exports and 44.7 per cent share of Malaysia’s manufactured exports. Semiconductor devices, integrated circuits, transistors and valves – the largest exported Malaysian items – accounted for 51.9 per cent share of Malaysia’s E&E exports. The top-5 export destinations for Malaysian E&E products are Singapore, China, the USA, Hong Kong and Japan.