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

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

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PRESS RELEASE 

(19 Oktober 2017)

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

The MAI-MIDF Industry 4.0 Development Programme was launched to enhance technical capability and streamline financial support for Parts & Components Manufacturers within the automotive industry

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 catalyze the development of automotive parts & components manufacturers, towards supply chain excellence, efficient manufacturing, and higher value competitiveness.

This unique collaboration merges MAI’s capacity building programs with MIDF’s industry funding capacities, to create a comprehensive development programme for the Malaysian automotive supply chain.

MAI’s capacity building modules, namely, the Automotive Supplier Excellence Programme (ASEP) and Lean Production System (LPS) are designed to enhance productivity within the manufacturing operations of vendors, focusing on creating world-class vendors for a more competitive and sustainable domestic automotive industry.

The ASEP programme begins with an overall assessment in key disciplines of automotive manufacturing, including management, technical and financial capabilities. The companies are then coached over a period of 10 months in identified improvement areas by coaches recognized by MAI.

On the other hand, the LPS programme focuses on improving efficiency and productivity of manufacturing operations within automotive vendors. Vendors undergo a 9-month one-to-one coaching programme, led by industry-expert trainers recognized by MAI.

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. These activities are key towards developing product and process design capabilities that are in line with global automotive standards and practices, as future vehicles and automotive components are expected to increase in their complexity of function, process and materials.

“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.

“Vehicles on our roads are rapidly evolving from mere mechanical equipment to becoming integrated machines that compliment our lifestyle, requiring diverse disciplines and specialisations. It is important that this same diversity is embedded into governance that are responsible to encourage competitiveness within our own industry􀂴, he added.

“This collaboration will mark another milestone for MIDF as the Company was the financier of Malaysia’s first motor assembly plant – a joint venture between AB Volvo of Sweden and Federal Co. Ltd of Malaysia to assemble Volvo cars in 1966. 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,” said MIDF Group Managing  Director, Datuk Mohd. Najib Hj. Abdullah.

􀂳With this MIDF-MAI strategic alliance, 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”, added Datuk 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.

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About the Malaysia Automotive Institute (MAI)

Malaysia Automotive Institute (MAI), is an agency under the Ministry of International Trade and Industry (MITI). Serving as the focal point, coordinating centre a think tank for the nation’s automotive industry, it functions to enhance technology, human capital, supply chain, market outreach and aftersales capabilities of all automotive stakeholders and ecosystems. For information, please visit www.mai.org.my

About Malaysian Industrial Development Finance Berhad

Malaysian Industrial Development Finance Berhad (MIDF) is the country’s premier development finance institution for accelerating the development and modernisation of the country’s manufacturing and services industries. MIDF Group has evolved into a stronger and bigger entity, offering a competitive and diversified range of financial services to include Investment Banking, Development Finance, Asset Management, and Mezzanine Financing. For information, please visit www.midf.com.my

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Malaysia Automotive Institute

Contact Person: Sarah Mamat Contact:011-26900611 Email: sarah@mai.org.my

Contact Person: Joevy Chuah

Contact:016-9726095

Email: joevy@mai.org.my

Malaysian Industrial Development Finance Berhad

Contact Person: Anita Ramly

Contact:019-3324809

Email: anita.ramly@midf.com.my

Contact Person: Fadzlan Abu Bakar

Contact:013-3523534

Email: fadzlan@midf.com.my

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