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MIDA and CREST to Build Malaysia’s SME Industry 4.0 Readiness

The Malaysian Investment Development Authority (MIDA) and Collaborative Research in Engineering and Science and Technology Centre (CREST) signed a Memorandum of Understanding (MoU) with a company that provides businesses and people with collaborative 3D virtual environments to imagine sustainable innovations.

The partnership aims to create a steering committee to discuss the scope, requirements, roles and plans in supporting Malaysia’s small and medium-sized enterprises (SMEs) in their transformation journey to Industry 4.0 as well as enhancing cloud-based collaboration through adopting world-class Enterprise Resource Planning (ERP) solutions.

The CEO of MIDA stated that the initiative aims to elevate the country’s local SMEs and equip them with the latest technology to enhance their business efficiency through adopting world-class Enterprise Resource Planning (ERP) solutions.

MIDA’s role in this initiative will be to help empower Malaysian firms and SMEs to fortify their technical capabilities and embrace modern technology, thus enabling them to progress and flourish. The signing signifies the Government’s drive to propel industry players, especially domestic players, and SMEs, to embrace the new technology and realise its potential by taking on the technological solutions of ERP, he said.

The ERP solutions will leverage on the partnering company’s virtual twin technologies via its 3DEXPERIENCE platform, specifically in its computer-aided design software and Product Lifecycle Management (PLM) solutions, which are used in various industries including manufacturing, engineering, and life sciences.

The CEO of CREST stated that the MoU aims to provide a platform that allows Malaysian businesses to thrive in a competitive business environment, post-pandemic. The Centre is constantly looking for opportunities to collaborate with the Malaysian Government, industry leaders and academia to advance scientific knowledge in the country. In turn, CREST aims to strengthen homegrown innovation and research while we help local businesses navigate their challenges and opportunities in the new normal.

Meanwhile, the Managing Director, Asia Pacific South of the partnering company stated that the firm has worked with many successful businesses across the globe to build connected ecosystems that allow them to tap on data to create actionable insights and be competitive and efficient in the digital economy.

She noted that with enhanced connectivity, Malaysian SMEs can benefit from data-driven decision-making, build closer relationships with customers and partners, and continuously improve their operations and processes as they compete in the global business arena.

Malaysia’s manufacturing sector is undergoing a significant transformation. There is a growing push to adopt and adapt value-added processes and digitalisation. This partnership will tap into the collective expertise of the parties to help local businesses via a three-pronged approach, namely enabling Industry 4.0 readiness, providing access to the global marketplace, and adopting true cloud-based collaboration. The intent is to develop a programme to enhance the efficiency and operations of SMEs in Malaysia with state-of-the-art Enterprise Resource Planning (ERP) solutions, aimed at integrating business processes and applications.

About CREST

The Collaborative Research in Engineering and Science and Technology Centre (CREST) was developed to be a catalyst and change agent that drives the growth of Malaysia’s Electrical & Electronics (E&E) industry through market-driven research and talent development.

While CREST is industry-led, its member representation is the triple helix of Government, Industry and Academia. CREST focuses on creating a vibrant Research, Development and Commercialisation (R&D&C) ecosystem by promoting collaboration between the Industry and Academia, with support from various Government organisations.

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