By Siti Noor Afera Abu
KUALA LUMPUR, March 8 (Bernama) -- The small- and medium-sized enterprises (SMEs) can boost revenue growth by eight to 12 per cent a year, by shifting their conventional businesses into the realm of Industrial Revolution 4.0 (IR4.0).
KnowledgeCom Corp Sdn Bhd Chief Executive Officer, S.T. Rubaneswaran, said the government expected to see between 30 and 40 per cent revenue increase in the sector within the next five years at a cost reduction of five to eight per cent a year.
IR4.0 is the next phase of digitisation in the manufacturing sector which can assist SMEs expand their businesses and help reduce costs as well as eliminate Malaysia's dependency on low-skilled foreign labour.
"So if you look at the good side, you can increase your revenue and reduce your cost and you already have a high profit, so that is how it works by using IR4.0 technology," he said in an exclusive interview with Bernama recently.
Rubaneswaran said the IR4.0 landscape in Malaysia presented a different set of challenges.....