MRMPA confident ofrubber industry’s continuous growth; says it meets Budget 2018 wish list

November 9, 2017

Datuk-Dr-Ong-Eng-LongThe Malaysian Rubber Products Manufacturers’ Association (MRPMA) is confident of the continuous growth in the rubber industry.

They say the Plantation Industries and Commodities Ministry has met the association’s Budget 2018 wish list.

MRPMA said it was pleased with the outcome since the government had provided some solutions to the industry.

“MRPMA is particularly content with the extension of the incentive period for Accelerated Capital Allowance of 200% on automation equipment for manufacturing sectors from the year of assessment 2018 to 2020.

“The association strongly believes that automation is the way to go to reduce our dependence on foreign workers, although implementation of automation takes time,” said MRPMA president Datuk Dr Ong Eng Long.

He said there was a need to push small and medium enterprises towards automation and mechanisation processes to increase efficiency.

“Capital investment expenditure is high and many SMEs do not have sufficient funds for automation and upgrade in technology.

“The RM200mil allocation for training programmes, grants and soft loans under SME Corp and RM1bil loans to companies under Skim Jaminan Pembiayaan (SJPP) for the purpose of automation is much needed to push the rubber industry forward,” Ong added.

He also commended the government for providing assistance to SMEs to transform towards smart manufacturing via thr Fourth Industrial Revolution (Industry 4.0).

The RM245mil grant under the Domestic Investment Strategic Fund will assist SMEs in addressing issues of a poor uptake of technologies due to high capital investments.

“Our manufacturing industry can benefit from Industry 4.0 if we can harness the potential of latest technologies such as additive manufacturing and the Internet of Things.

“This will move them up the value chain,” Ong said.

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Rubber Prices
(Last Updated: 17 Oct 2018)

Monthly The prices shown above do not include VAT @4% on purchase and expenses towards packing, transportation, warehousing  and other incidentals

Source: Latex India


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