The collaborations will feature funding support from BPMB to drive digitalisation initiatives through the Bank’s own funds and the Industry Digitalisation Transformation Scheme (IDTS). Meanwhile, the technical support from MOSTI’s funding agencies will be utilised to advance the Government’s Industry 4.0 initiatives to increase the contribution of sectors involved in high impact deep technology, to the national economy.

The exchange of the Memorandums of Understanding with KMP and MTDC was held recently at MOSTI’s headquarters in Putrajaya, witnessed by MOSTI Minister, YB Khairy Jamaluddin Abu Bakar and attended by BPMB President/Group Chief Executive Officer, Arshad Mohamed Ismail. Also present at the ceremony were MTDC Chief Executive Officer, YBhg. Dato’ Norhalim Yunus as well as KMP Acting Chief Executive Officer & Chief Financial Officer, Yarham Yunus.

“We are happy to have forged these strategic partnerships with our esteemed partners and we are confident that together, we will be able to provide funding access to benefit a wider market segment. Simultaneously, the collaborations are also expected to create more jobs through digital enablers in support of the evolving and growing need for digitalisation and automation of businesses.

Looking ahead, we are hopeful for a fruitful endeavour and we are excited to leverage on our collective strengths and expertise to form the perfect synergy in our journey to champion Malaysia’s Industry 4.0 initiatives,” said BPMB President/Group Chief Executive Officer, Arshad Mohamed Ismail.

In BPMB’s collaboration with KMP, both parties will collaborate to facilitate the implementation of the IDTS – aimed at reaching eligible technology-related small and medium-sized businesses requiring funding assistance to grow and expand into high-impact deep technology. KMP’s guidance and experience in investing in technology-related ventures will provide BPMB with better insights into the technology sector.

“We are excited to engage in this productive partnership with BPMB to provide funding access to companies with a focus on deep technology, especially in the Electrical & Electronics sector.

This IDTS initiative is well-timed with the Government’s own intention to create a high-income nation and we believe that by leveraging on our deep technology knowledge and application in the Electrical & Electronics sector, we would be able to achieve this target,” said KMP Acting Chief Executive Officer & Chief Financial Officer, Yarham Yunus.

The collaboration with MTDC will entail both parties working towards advancing Malaysia’s digitalisation initiatives using digital technology to reach out to micro and small-sized businesses. BPMB will work with MTDC and its peer-to-peer financing platform partner, to explore an alternative source of capital to support the growth or working capital needs of the targeted businesses. Additionally, MTDC will provide the technical advice and assessment of the technology-related funding, and co-invest in selected investment notes.

“Through this collaboration, MTDC will assist to accelerate the industry adoption of Industry 4.0 related technologies. The adoption of Industry 4.0 is crucial to increasing the contribution of the manufacturing sector and any other technology related businesses to the national economy.

MTDC will facilitate the implementation of IDTS with P2P funding (IDTS-P2P) by BPMB and provide technical advice on technology sector and other relevant matters to BPMB,” said MTDC Chief Executive Officer, YBhg. Dato’ Norhalim Yunus.