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MAI and MIDF forms Strategic Alliance to Enhance the Competitiveness of Vendors in the Malaysian Automotive Industry

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MAI and MIDF forms Strategic Alliance to Enhance the Competitiveness of Vendors in the Malaysian Automotive Industry domestic 

Kuala Lumpur, 19th October. Malaysia Automotive Institute (MAI) and Malaysian Industrial Development Finance Berhad (MIDF) entered into a strategic alliance today, signifying the launch of the MAI-MIDF Industry 4.0 Development Programme to further catalyse the development of automotive parts & components manufacturers, towards supply chain excellence, efficient manufacturing, and higher value competitiveness by enhancing technical capability and streamline financial support.

This collaboration merges MAI's capacity building programs such as the Automotive Supplier Excellence Programme (ASEP) and Lean Production System (LPS) that designed to enhance productivity within the manufacturing operations of vendors, focusing on creating world-class vendors for a more competitive and sustainabledomestic automotive industry with MIDF's industry funding capacities, to create a comprehensive development programme for the Malaysian automotive supply chain.

6MoUSigningofStrategicAlliance

Vendors who have completed the ASEP and LPS programmes would now be eligible for funding for the implementation of Smart Manufacturing and Industry 4.0 related activities within their operations.

“Collaborations such as these are now more important than ever, they allow us to capitalize on each other strengths and specialisations to serve the automotive community." said Dato Madani Sahari, CEO of MAI.

“MIDF’s collaboration with MAI will assist the local automotive manufacturers as well other supporting automotive service providers to achieve international standards and be ready for the international markets. We are expecting to fund 120 companies with a total financing assistance of up to RM200 million between 2018 and 2020. Thus far, MIDF has assisted companies in the automotive sector with financing amounting to RM544.8 million” said MIDF Group Managing Director, Datuk Mohd. Najib Hj. Abdullah.

Malaysia Automotive Institute (MAI) and Malaysian Industrial Development Finance Berhad (MIDF) are agencies under the Ministry of International Trade and Industry (MITI). This collaboration is expected to increase the volume of high value jobs and business opportunities within the Malaysian automotive industry.

Read 206 times Last modified on Monday, 23 October 2017 03:35

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