Malaysia sees high investment growth from MSC companies

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19 Apr Malaysia sees high investment growth from MSC companies

In picture: Yasmin (right) and MDEC chief operating officer Datuk Ng Wan Peng speaking to reporters at the event held in Bangsar on 11th April 2016. 

 

Despite global economic challenges, Malaysia Digital Economy Corporation (MDEC), formerly known as Multimedia Development Corporation recorded significant growth in investments and export sales from MSC Malaysia companies in 2015.

As the lead agency responsible for driving Malaysia’s digital economy, MDEC registered a growth of 56 percent in Approved Investments and Foreign Direct Investments in 2015.

Total investments inflow from MSC Malaysia companies reached RM19.8 billion last year, making it the highest increase in new investments since MSC Malaysia’s establishment in 1996.

MDEC CEO Datuk Yasmin Mahmood said this was driven by the confidence from investors in the local ICT industry.

“The year 2015 was a significant year for us. New investments inflow reached a 20-year record high and for the first time ever, export sales for MSC Malaysia exceeded our expectations.

“MSC Malaysia’s performance and growth is testament to the progress we are making in executing our Digital Economy strategy as well as boosting investors’ confidence and faith in our local ICT industry,” she told reporters after announcing MSC Malaysia’s performance in 2015.

Meanwhile, export sales from MSC Malaysia companies contributed RM16.2 billion, an 18 percent increase from previous year (RM13.7 billion).

The Global Business Services (GBS) cluster contributed the highest (69 percent) to the overall export sales.

“Local MSC Malaysia companies showcased promising growth in 2015, as export sales increased by nine percent (RM3.7 billion). We are proud to share that MSC Malaysia recorded the highest increase in overall export sales since 2010,” said Yasmin.

Last year, MDEC saw seven additional local companies cross the RM100 million revenue mark.

“This is an important milestone for MDEC in championing local MSC Malaysia companies as they tap regional and global markets. It is encouraging to see our local tech icons grow stronger year-on-year and contribute to our economy,” Yasmin said.

Moving forward, MDEC will focus on four key areas in driving towards a sustainable digital economy. This constitutes driving investments, growing local technology champions, catalysing digital innovation ecosystems and digital inclusivity.

This follows the positive growth recorded by new areas including the Internet of Things (IoT), Cloud & Data Centre, Big Data Analytics (BDA), Security and eCommerce in 2015.
Yasmin added that the animation sector also recorded an impressive growth in exports by 52 percent while the games sector was growing rapidly from a small base, with a six-fold increase in year-on-year growth in export sales.

 

Source: Astro Awani

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