KUALA LUMPUR: Malaysian Industrial Development Finance Bhd (MIDF) aims to disburse RM200 million in funding from the Ministry of Investment, Trade, and Industry (Miti) to help 100 Malaysian SMEs upgrade into smart factories by 2027.
The programme – Future Ready Financing (FRF) – aims to create more than 500 high-skill jobs in manufacturing and manufacturing-related services.
Deputy Investment, Trade and Industry Minister Liew Chin Tong said the programme is a pioneering initiative that brings together the government’s commitment to empower SMEs and strengthen economic resilience.
“We launch FRF with the goal of equipping SMEs to excel in high-end manufacturing and manufacturing-related services,” he said at the launch of FRF today.
The collaboration is led by MIDF through the FRF programme, with support from Malaysian Technology Development Corporation (MTDC), Standards and Industrial Research Institute of Malaysia (Sirim) and solution providers.
“The collaboration offers targeted financial products, expert advisory services, and advanced technological solutions to drive automation, enhance operational efficiency, and, crucially, reduce dependence on unskilled foreign labour,” Liew said.
MTDC and Sirim, he said, play pivotal roles by assessing technological readiness, matching SMEs with the right solution providers, and recommending eligible SMEs for MIDF financing. “This approach ensures that SMEs are not only equipped with financial resources but also supported with expertise, positioning them for successful integration of smart technologies and sustainable growth.”
The programme is aligned with Malaysia’s New Industrial Master Plan 2030 (NIMP 2030) where FRF is a step towards building a resilient, technology-driven economy, Liew said.
“Malaysia’s SMEs are the backbone of our economy, contributing 38% to our GDP (gross domestic product) and providing nearly half of our nation’s employment. Empowering SMEs is essential to fulfill our industrial targets under NIMP 2030,” he added.
Liew hopes SMEs will adopt Industry 4.0 technology, access real-time data analytics, engage in precision manufacturing, and roll-out smart factory systems across the board through the programme.
MIDF chairman Tan Sri Abdul Rahman Mamat said it believes that empowering local SMEs is fundamental to building a resilient and innovative Malaysia. “FRF reflects our dedication to that vision, supporting our SMEs with tailored financial tools, resources, and knowledge to grow sustainably.”
On another issue, Liew told reporters that Miti will issue a statement on the sanctions of six Malaysian companies by the US State Department over alleged links to Russia and the ongoing war in Ukraine.
The six companies listed are Zeolite Mansford Sdn Bhd, Centrina United Sdn Bhd, Gyntec Carbon Sdn Bhd, Moralability Industry Sdn Bhd and Melix Global Sdn Bhd.
In a press release issued on Oct 30, the US State Department said the sanctioned companies are among 120 individuals and entities across several nations. “It is aimed at disrupting sanctions evasion and targeting entities in multiple third countries, including the China, India, Malaysia, Thailand, Turkiye and the United Arab Emirates,” it said.
