MIDA: Investments Into Malaysia Are Still Positive

There are some impacts to industries such as O&G from the recent drop in crude oil price however, specifically on investments, we did not receive any cutbacks from any investors, says Azman.

R. Kamalavacini | Friday, 19 December 2014

Source: Malaysian Reserve

The current uncertainties on the global economy, weakening ringgit and sluggish crude oil price, did not pose any impact to investment inflow to the country.

Malaysian Investment Development Authority (MIDA) CEO Datuk Azman Mahmud said presently, there are no cutbacks on any investments into Malaysia as the numbers are still positive.

“There are some impact to industries such as oil and gas (O&G) from the recent drop in crude oil price however, specifically on investments, we did not receive any cutbacks from any investors,” Azman said during a news conference after delivering his closing remarks at the Collaborative Research in Engineering, Science and Technology (Crest) Symposium 2014 in Kuala Lumpur yesterday.

He however refused to reveal investment figures and declined to comment on investment outlook for next year.

In another development, Crest CEO Jaffri Ibrahim said the company has formed a five year collaboration with University of California Santa Barbara (UCSB) to develop new measures and technology inventions in the light-emitting diode (LED) front-end capabilities.

“For example, epitaxy is an area we want Malaysian companies to venture into. We are already doing well in back-end portion of LED business which include wafer processing, packaging and applications,” said Jaffri.

Crest, a non-profit company created by the electric and electronic (E&E) industries in Malaysia.

“This collaboration involves RM170 million in investment, of which 65% will be bourne by the government. The remaining will be jointly funded by our other stakeholders,” he added.

Jaffri said the sum include grant and infrastructural upgrading works such as setting up of laboratory for the team to conduct research and development (R&D) in Malaysia.

The R&D activities will be conducted in higher education institutions such as Universiti Sains Malaysia (USM), University Malaya (UM) University Malaysia Perlis (Unimap) and Monash University Malaysia.

Researches will also be conducted in UCSB and results from the R&D research will be patented at respective countries and the rights will be shared among its partners.

He also said that in 2010, Malaysia accounts for RM3 billion in global revenues for LED segment which eventually positioned the country in 7th ranking globally.

Meanwhile, UCSB Solid State Lighting Energy Centre Professor Dr Steven P Denbaars said the current global market for LED is touching USD$30 billion.

“The market is huge and the demand is extraordinary. We have working in this technology field for the past 15 years. And over the last 14 years we have patented more than seven products,” he said adding that UCSB sets a target of 20 patents per year.

Also present were UCSB professor cum 2014 noble price winner for physics Dr Shuji Nakamura and Dr James Speck of the Materials Department from UCSB as well.

The five year programme will be conducted in three phases.