KUALA LUMPUR: The Malaysia External Trade Development Corporation (Matrade) and Deloitte Malaysia are targeting 105 new high-performing mid-tier firms into their Mid-Tier Companies Development Programme (MTCDP) Wave 9 Kick-Off programme, which is expected to increase the country’s export value by RM5 billion from 2021 to 2025.
A total of 26 new mid-tier companies were onboarded to the programme today, where 14 of them were from the manufacturing sector (54%) and the remaining 12 from the services sector (46%).
Since its inception in 2014, the programme has groomed 300 mid-tier companies in various industries through tailored business interventions and customised activities to enhance its ability to compete globally.
Based on impact tracking done in 2021, the programme has collected RM17.8 billion in export value from 275 companies, an increase of 15.5% compared to 2020.
Matrade CEO Datuk Mohd Mustafa Abdul Aziz said it believes the platform accommodates the requirements of firms at all stages of development as it has mid-tier firms with different levels of growth participating in Wave 9.
“We are confident that this diverse mix of mid-tier companies will create a thriving and dynamic environment for cooperation, education, and progress, which will benefit not just individual companies but also the Malaysian business landscape,” he said at the event today.
Matrade defines mid-tier companies as manufacturing sector enterprises with an annual revenue of RM50 million to RM500 million, and service sector enterprises with an annual revenue of RM20 million to RM200 million.
MTCDP’s major aim is to accelerate the export growth of mid-tier firms in Malaysia, to be the regional and global champions. Development of these companies is part and parcel of a holistic approach, where Matrade identifies potential MSME at the early stage to be new exporters, growing them to Mid-Tier status and later, scaling up to be large corporations.
“Matrade tried to be as inclusive as possible by recruiting mid-tier companies all over Malaysia,” Mohd Mustafa said.
Source: The Sun Daily
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