THURSDAY, MARCH 18, 2021 KUALA LUMPUR: Malaysian Mid-Tier Companies (MTCs) are leading the adoption of Industry 4.0 to remain competitive in the global market. This is the outcome of the engagement between Ministry of International Trade and Industry (MITI) and its Agency, Malaysia External Trade Development Corporation (MATRADE) with a Mid-Tier company, LH Plus Sdn Bhd in Shah Alam, yesterday.
Deputy Minister of International Trade and Industry, YB Datuk Lim Ban Hong, who led the visit, was impressed with the achievements of LH Plus as one of the world’s leading manufacturers of high quality plastic components and premium household products for major brands such as Tupperware and Rubbermaid.
During the visit, Lim was briefed by Chief Executive Officer (CEO) of LH Plus, Mr Callum Chen on the company’s capabilities as well as its journey in transforming the company to embrace Industry 4.0.
LH Plus participated in Mid-Tier Companies Development Programme (MTCDP) when it was launched in 2014. MTCDP is one of MATRADE’s high impact programmes aimed to accelerate the growth of Malaysian MTCs in the global frontier.
After successful completion in the 9-month programme, LH Plus continued to grow their export momentum through the Ramp-Up Programme where the company has explored new markets and being connected with new global clients to expand their exports. While LH Plus key export markets are USA and Japan, the company also has successfully penetrated North America, Latin America and Asia Pacific markets with assistance from MATRADE.
The Government, through MITI and its Agencies, will continue to undertake regular engagements with the private sectors during this challenging times. Through this initiative, MITI through MATRADE will be able to further understand the needs of Mid-Tier Companies(MTCs), including issues effecting exports, developing innovative strategies to grow exports, expanding global footprints as well as promoting the adoption of Industry 4.0. Deputy CEO of MATRADE, Encik Abu Bakar Yusof has also joined the visit.
MTCDP targets exporting companies with annual revenues ranging from RM50 million to RM500 million for manufacturing companies and between RM20 million and RM500 million for services. Since the inception of the programme in 2014, a total of 275 Mid-Tier Companies (MTCs) from various sectors have benefitted from the 9-month programme.
Following completion from the Mid-Tier Companies Development Programme, the MTCs continue to receive MATRADE’s assistance through Ramp-Up Programme that is aimed at further intensifying MTCs’ market access into new key potential markets.