MATRADE AIMS RM3.8 BLN EXPORT REVENUE BY MTC

KUALA LUMPUR, Jan 24 (Bernama)  -- The Malaysia External Trade Development Corporation (Matrade) aims to increase the export revenue recorded by 152 mid-tier companies (MTCs) participated in the Mid-Tier Companies Development Programme (MTCDP) to RM3.8 billion by 2020 from RM2.5 billion in 2017.

Deputy chief executive officer Sharimahton Mat Saleh said the export promotion agency would groom a total of 300 participants to achieve the targeted increase in export revenue.

“Now there are 60 of the MTCDP’s Wave four and Wave 5 participants which had graduated after completing the nine-month programme, bringing the total graduates to 212 participants,” she told reporters on the sidelines of a graduation ceremony for Mid-Tier companies development programme Wave Four and Wave 5 today. 

MTCs contributed 30 per cent to the country’s total Gross Domestic Product (GDP) and employed over 22 per cent of the Malaysian workforce.

However, there are only about 10,000 MTCs in the country or just one per cent which registered with Companies Commission of Malaysia (SSM).

Sharimahton said the MTCs’ role on driving Malaysia’s trade is tremendous and often understated, therefore, the programme was aimed at reaching these companies and assist them in exploring new markets.

“That’s why we hoped that more and more companies apply for this programme,” she said.

In Malaysia, the MTCs are those with annual revenue of at least RM50 million in the manufacturing sector, while for services, the minimum revenue is RM20 million.

Through MTCDP, Matrade would assessed each company’s challenges in growing their export markets and customised a series of development programmes to help them overcome the challenges.

Meanwhile, participant of MTCDP’s Wave 4, Autokeen Sdn Bhd, which involved in manufacturing auto parts anticipated that its export revenue would rise a further 10 percent following its venture into Sudan. 

Managing director Asyraf Abdul Rahman said via its involvement with the programme, the company is eyeing foray into Germany and Singapore markets.

“The favourable exchange rate has made our products more attractive compared to competitors,” he added.

-- BERNAMA