Kuala Lumpur, 15 February 2022 – The Malaysian Investment Development Authority (MIDA) through its Domestic Investment Coordination Platform (DICP) with Bursa Malaysia and Capital Markets Malaysia (CMM), an affiliate of the Securities Commission Malaysia (SC) kickstarted their seminar series on ‘Business Growth through the Malaysian Capital Market’.

This inaugural seminar, held in Port Dickson, Negeri Sembilan, was jointly organised with Invest Negeri Sembilan and attracted 35 companies from Negeri Sembilan as well as Melaka. MIDA anticipates to organise more seminars throughout the country in 2022.

Recognising the financial challenges faced by the domestic industry players, particularly the SMEs and Mid-tier companies (MTCs) to execute their business expansion plans, MIDA looks to provide opportunities for businesses to learn, evaluate and consider raising capital through the public and private markets, as well as market-based financing options such as equity crowdfunding (ECF) registered with the SC.

During the event, Mr. Sukri Abu Bakar, the Director of Domestic Investment Division, MIDA remarked “Through MIDA’s proprietary services, we have enabled various scales of local businesses, including SMEs and SMIs. MIDA’s Domestic Investment Coordination Platform or DICP aims to bridge businesses, technologies and research capability with capital funding sourced from the public and private markets. We continuously work with local regulators, technology providers and financial institutions to drive business growth by facilitating business support services to SMEs and SMIs, crucial to domestic direct investments, which bring significant economic growth.”

Mr. Azhar Mohd Zabidi, the Director of Securities Market of Bursa Malaysia added,
“Bursa Malaysia is very pleased to support MIDA in the ‘Business Growth through the Malaysian Capital Market’ seminar with Invest Negeri Sembilan. This initiative is a great way to increase awareness and create better understanding among SMEs and MTCs throughout Malaysia to ultimately tap the Malaysian capital market through various channels including IPOs (initial public offerings). IPOs will not only facilitate the raising of capital to help fulfil growth strategies, but also open doors to new opportunities for the companies at different stages of growth.”

In supporting MIDA’s efforts in developing the growth of domestic businesses, CMM shared on its Elevate Programme, a bespoke executive leadership programme for Malaysian MTCs. The 12-month capacity development programme offers guidance on business redesign strategies, fundraising models and access to fund raising through the capital market. Companies that stand to benefit from this programme include business founders, privately-held family-run businesses in their second and third generations, entrepreneurs that are looking to leverage new investors for growth strategies as well as companies that are seek listing on the local bourse to expand their footprints.

The whole-day event featured panel presentations by MIDA, Capital Markets Malaysia and Bursa Malaysia Berhad; followed by one-on-one session between participants and private equity firms such as COPE and Bintang Capital; as well as equity crowd funding (ECF) platforms, 1337 Ventures and PitchIN.

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About MIDA
MIDA is the government’s principal investment promotion and development agency under the Ministry of International Trade and Industry (MITI) to oversee and drive investments into the manufacturing and services sectors in Malaysia. Headquartered in Kuala Lumpur Sentral, MIDA has 12 regional and 20 overseas offices. MIDA continues to be the strategic partner to businesses in seizing the opportunities arising from the technology revolution of this era. For more information, please visit www.mida.gov.my and follow us on Twitter, Instagram, Facebook, LinkedIn and YouTube.

About Bursa Malaysia
Bursa Malaysia is an Exchange holding company incorporated in 1976 and listed in 2005. It has grown to be one of the largest bourses in ASEAN today. Bursa Malaysia operates and regulates a fully-integrated exchange offering a comprehensive range of exchange-related facilities and is committed to Creating Opportunities, Growing Value. Learn more at www.bursamalaysia.com.

About Capital Markets Malaysia (CMM)
As part of its developmental mandate, the SC set up CMM in 2013 to spearhead both the local and international positioning and profiling of the Malaysian capital market with its wide range of conventional and Islamic products, supported by a strong governance infrastructure. CMM profiles the competitiveness and attractiveness of the various segments of the capital market to increase participation and enhance opportunities for capital market intermediaries, issuers and investors.

For more information, please contact:

MIDA
Sukri Abu Bakar (Mr.)
Director, Domestic Investment Division
[email protected] | +603 2267 3685

Bursa Malaysia
Muhammad Nizam Ashraff Mohd Taharim
Manager, PR & Media
[email protected] | +603 2034 7348

CMM
Farina Ahmad Farid (Ms.)
Head, Communication
[email protected] | +603 6204 8616

MIDA, Bursa Malaysia and CMM Encourage Local Companies To Explore Alternative Fundraising

Pulau Pinang, 10 February 2022 – Eclipse Automation Inc, a leading supplier of custom automated manufacturing equipment for the life sciences, energy, transportation, consumer electronics, and industrial industries, announced its first manufacturing facility in Asia to be based in Pulau Pinang. A groundbreaking ceremony for the new facility was held today at Batu Kawan, Pulau Pinang. The facility is set to serve its major customers across Asia Pacific and other regions and factory construction is expected to commence within the first quarter of 2022 with commercial operations targeted to begin in 2023.      

Eclipse Automation is headquartered in Ontario, Canada and has 20 facilities strategically located in the vicinity of Fortune 500 companies and manufacturing centres across Canada, United States and Central Europe. The latest expansion is part of the group’s commitment to increase manufacturing production capacity to meet global demands.           

“The new facility in Batu Kawan is expected to create approximately 150 new jobs by 2025 with about 80 per cent of the employees from the technical and engineering background. This project is timely and significant as it can contribute to the Malaysian economy in terms of high-income employment amidst the COVID-19 pandemic. This project which further strengthens Malaysia’s position as a strategic destination for global Machinery and Equipment (M&E) players that will create a multiplier effect within the domestic economy in terms of local supply chain usage and technology transfer,” shared Datuk Arham Abdul Rahman, Chief Executive Officer of Malaysian Investment Development Authority (MIDA).  

The Eclipse Automation Malaysia site will span three (3) acres of prime industrial land, with a production area of 55,000 square feet and an office area of 27,000 square feet designed to fully support the compliance needs of the customers within the life sciences sector, as well as serving the high-tech automotive, alternative energy, and consumer industries. This site will also act as a cost-effective and desirable strategic location for continued global growth, in collaboration with Eclipse’s current technology and manufacturing hubs in Canada, the U.S.A., Germany, Hungary and Switzerland.

Eclipse Automation CEO, Mr. Steve Mai, said “We celebrated the Year of the Tiger with a brave new level of expansion within our business. Eclipse Malaysia will further extend its reach, to bring customers’ expert regional support, service and fulfillment within Asia. The site in Pulau Pinang will provide exceptional, value-added manufacturing options to best support global programs, including replication line and outsourcing model platforms. Our Malaysian facility will also employ a large team of highly-qualified engineers, assemblers and other support teams to enhance our ability to provide solutions with a powerful follow-the-sun model of service. We appreciate MIDA for supporting us throughout our journey and Malaysia’s pro-business, pro-trade and business-friendly investment policies have played a key role in helping us make our investment decision.”

“With our Government’s business-friendly policies, investors such as Eclipse Automation can leverage on Malaysia’s strategic location, a vast network of infrastructure, strong support industries as well as talented workforce to become prominent players within the global value chain. I am also confident that Eclipse Automation’s investment will be another major step forward for Malaysia and their growth here will be beneficial for our local industry and people.” added Datuk Arham

In 2021, a total of 49 M&E projects have been approved with an investment value of RM1.3 billion. Of the total, 27 were new projects, with investments amounting to RM753.7 million (56.3 per cent). The remaining 22 were expansion/diversification projects worth RM584.4 million (43.7 per cent). Most of the investments approved were from foreign sources amounting to RM906.0 million or 67.7 percent, while the remaining RM432.2 million (32.3 per cent) were from domestic direct investment (DDI). These approved projects are expected to create 2,253 new job opportunities.

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About MIDA

MIDA is the government’s principal investment promotion and development agency under the Ministry of International Trade and Industry (MITI) to oversee and drive investments into the manufacturing and services sectors in Malaysia. Headquartered in Kuala Lumpur Sentral, MIDA has 12 regional and 20 overseas offices. MIDA continues to be the strategic partner to businesses in seizing the opportunities arising from the technology revolution of this era. For more information, please visit www.mida.gov.my and follow us on Twitter, Instagram, Facebook, LinkedIn and YouTube.

About Eclipse Automation, Inc

Founded in 2001 and with over 900 employees, Eclipse offers customized automation and manufacturing solutions from prototype to production for major MNCs across the globe in the field of machinery and equipment. Eclipse Automation had long been involved in Design & Manufacturing of factory automation systems and modules for a wide variety of industrial applications, and accelerator for innovation and invention in the automation industry. For its sixth consecutive year, Eclipse was recognized as one of Canada’s Best-Managed Companies for overall business excellence by Deloitte’s Best Managed Companies program. Eclipse was also a six-year recipient of the Growth 500 Award that celebrates Canada’s most dynamic and successful businesses. For more information about Eclipse Automation Inc, please visit www.eclipseautomation.com.

For more information, please contact:

Ms. Zakiah Sajidan
Director, Machinery & Metal Technology Division, MIDA
Telephone: 03-2267 3628
Email: [email protected]

Ms. Patty Atwell
Global Director,
Marketing & Communications
Eclipse Automation Inc.
Cambridge, Ontario, CANADA
Telephone: +1 519-620-1906 ext:734
Mobile: +1 519-635-1722
Email: [email protected]

Mr. Mathew Perera
General Manager
Eclipse Malaysia Sdn. Bhd.
Penang, MALAYSIA
Telephone: +604-589-9988
Mobile: +6016 419-5438
Email: [email protected]

Eclipse Automation’s Right Move to Establish Its Overseas Manufacturing Facility in Malaysia

Kuala Lumpur, 4 February 2022 – Malaysia’s pharmaceutical industry recorded RM397.67 million approved investment from January to September 2021, exceeding the highest full-year figure approved in 2017. The sector also achieved astounding export figures for 2021, amounting to RM2.42 billion, a 24 percent increase from 2020.

YB Datuk Lim Ban Hong, Deputy Minister of International Trade and Industry (MITI), commended the industry’s outstanding performance during his industry visit to Biocon Sdn. Bhd. in Johor on 26 January 2022. “MITI has always attached great importance to the development of the pharmaceutical industry, particularly as we progress into the new norm with COVID-19. The increasing demand for medical and healthcare services has further driven the rapid development of the pharmaceutical industry.”

YB Datuk Lim Ban Hong further mentioned, “The Malaysian Investment Development Authority (MIDA) has also been continuously attracting and targetting high-quality tech investments in the pharmaceutical industry to strengthen Malaysia’s position in the global value chain. Biocon’s establishment and growing footprint is a testament to our nation’s competitive advantages and commitment to deliver value to our investors in line with our National Investment Aspirations and Twelfth Malaysia Plan.”

Biocon, one of the top Asian biopharmaceutical companies, chose Malaysia to set up Asia’s largest integrated insulin manufacturing facility in 2010 at the Southern Industrial Logistics Park (SILC), Johor. The project valued at over USD350 million is among Malaysia’s highest foreign pharmaceutical investments, and the first and only facility for manufacturing of insulins in Malaysia.

The company’s Malaysian hub is its first overseas bio-pharmaceuticals manufacturing and research facility. The well-equipped, state-of-the-art manufacturing facility in Nusajaya has employed around 800 employees and is the country’s first US-FDA-certified sterile biologics facility. Over the last five years, Biocon has been supplying life saving insulin products to patients in Malaysia from its Johor facility.

YB Datuk Lim Ban Hong welcomed Biocon’s commitment to supporting the Government’s emphasis on local talent development. “We trust that Biocon will be instrumental in Malaysia’s effort to retain local talent and ensure the local pharmaceutical industry ecosystem continues to thrive for years to come. Besides creating high-value job opportunities, we are responsible for preparing our aspiring young innovators and leaders because they are crucial to nation-building in this technologically driven era. We hope to see more of our local players exploring the international pharmaceutical market beyond catering to domestic needs.”

He further added that the partnership between Biocon and Malaysia would bring forth new R&D activities to spur growth in product innovation and new career options. Biocon, during the visit also indicated plans for an expansion of the facility to make the facility a hub for insulin manufacturing for meeting patient needs across the globe. Since 2020, the Government has adopted policies that prioritise the public’s welfare, including raising healthcare expenditure and improving medical access to prioritise the healthcare needs of the high-risk segments. Such measures have increased manufacturing volume and brought new trade opportunities with other nations to meet global healthcare demands.

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About MIDA

MIDA is the Government’s principal promotion agency under the Ministry of International Trade and Industry (MITI) to oversee and drive investments into the manufacturing and services sectors in Malaysia. Headquartered in Kuala Lumpur Sentral, MIDA has 12 regional and 20 overseas offices. MIDA continues to be the strategic partner to businesses in seizing the opportunities arising from the technology revolution of this era. For more information, please visit www.mida.gov.my and follow us on Twitter, Instagram, Facebook, LinkedIn and YouTube.

For media enquiries, please contact:
Balkish Mohd Yasin (Ms)
Director
Life Sciences & Medical Technology Division, MIDA
[email protected] | DL: +603-2267 3458

Malaysia’s Pharmaceutical Industry Expanding Strongly Records Highest Approved Investment since 2017

Kuala Lumpur, 3 February 2022 – Further to the Budget 2022 announcement, the Finance Bill 2021 was tabled in Parliament and unanimously passed on 23 December 2021. The Finance Bill 2021 incorporates several announcements made in the Budget 2022 and contains proposed amendments, including to the Promotion of Investments Act 1986 (PIA). Effective from 1 January 2022, the definitions of “Contract Research and Development Company” and “Research and Development Company” under section 2 of the PIA require companies to be approved as a research and development (R&D) status company by the Minister of International Trade and Industry (MITI).

Companies in the business of providing R&D services namely, Contract R&D Company and R&D Company that wish to apply for R&D tax incentive will be granted R&D status (subject to MITI’s approval) for a period of five (5) years. Companies approved with this status may apply for extension to the Malaysian Investment Development Authority (MIDA). However, the granting of the approval is subject to consideration by MITI and the Ministry of Finance.

The Finance Bill 2021 further provides that existing Contract R&D Companies and R&D Companies which have been given approval as a R&D company prior to 1 January 2022 which intend to fall within the new definition of “Contract Research and Development Company” and “Research and Development Company” are required to notify MIDA within the grace period that is from 1 January 2022 to 30 June 2022 for consideration. For this purpose, companies are required to provide documents to prove that they are undertaking activities relating to R&D as defined under the PIA and complies with conditions imposed previously in their approval letters. Failure to do so will cause the companies to cease their status as approved companies fulfilling the definition of “contract research and development company” and “research and development company”.

The Finance Bill 2021 may also be referred at the following link:

https://lom.agc.gov.my/act-detail.php?language=BI&act=833

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About MIDA

MIDA is the government’s principal investment promotion and development agency under the Ministry of International Trade and Industry (MITI) to oversee and drive investments into the manufacturing and services sectors in Malaysia. Headquartered in Kuala Lumpur Sentral, MIDA has 12 regional and 20 overseas offices. MIDA continues to be the strategic partner to businesses in seizing the opportunities arising from the technology revolution of this era. For more information, please visit www.mida.gov.my and follow us on Twitter, Instagram and Facebook, LinkedIn and YouTube channel.

For more information, please contact:

Puan Rashidah Othman
Director, Advanced Technology and R&D Division, MIDA
Email: [email protected]
Tel : 03-2267 3431

Puan Zuaida Abdullah
Director, Strategic Planning & Policy Advocacy (Services), MIDA
Email: [email protected]
Tel : 03-2267 6675

Amendments to The Definition Of Contract Research & Development Company And Research & Development Company In The Promotion Of Investments Act, 1986 Including Application For Approval As A Research & Development Company