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The Sun
5 days ago
- Business
- The Sun
MDEC launches two grants totalling RM2.9m to accelerate digital transformation in AI and manufacturing sectors
PETALING JAYA: Malaysia Digital Economy Corporation (MDEC) is introducing two grants totalling RM2.9 million aimed at accelerating digital transformation in two of Malaysia's most strategic sectors – artificial intelligence (AI) and manufacturing. Eligibility for these grants is exclusively extended to companies possessing Malaysia Digital (MD) or MSC Malaysia status, or to those with a pending MD status application at the time of applying for the grant. The two new grants – the Malaysia Digital Acceleration Grant – Artificial Intelligence (MDAG-AI) and the SmartMFG+ Incentive Programme – are designed to support high-potential local companies by promoting innovation, developing export-ready digital solutions and creating high-skilled employment opportunities. MDEC CEO Anuar Fariz Fadzil described the grants as both timely and strategic, giving a significant boost to Malaysia's digital transformation agenda. 'MDAG-AI establishes a foundational framework for Malaysia to emerge as a preeminent hub for AI innovation, while SmartMFG+ lays the groundwork for widespread digitalisation across the manufacturing industry. Collectively, these initiatives serve as a dual engine to advance our digital ambitions,' said Anuar. The MDAG-AI grant is specifically designed to support Malaysian digital companies in the commercialisation of AI solutions. It targets high-impact projects that correspond with the national AI investment strategy, focusing on companies with capabilities across the foundational, enabling, and application layers of AI. This initiative builds upon the momentum generated by prior programmes, concentrating on AI product commercialisation, cross-sector AI application, talent development and knowledge transfer. It is strategically aligned with the National AI Roadmap, reinforcing Eligible companies may apply for funding of up to 70% of total project costs, capped at RM2 million, for projects spanning a duration of up to one year. Application is now open till July 18 and successful applicants will be announced at the Malaysia Digital Expo (MDX) in September.
New Straits Times
6 days ago
- Business
- New Straits Times
MDEC rolls out RM2.9mil in new grants to drive AI
KUALA LUMPUR: The Malaysia Digital Economy Corporation (MDEC) has introduced two new grants totalling RM2.9 million to fast-track digital transformation in two key sectors: artificial intelligence (AI) and manufacturing. Open exclusively to companies with Malaysia Digital (MD) or MSC Malaysia status, or those with a pending MD application, the Malaysia Digital Acceleration Grant – Artificial Intelligence (MDAG-AI) and the SmartMFG+ Incentive Programme are designed to boost local innovation, support the development of export-ready digital solutions, and generate more high-skilled employment opportunities. MDEC chief executive officer Anuar Fariz Fadzil said the grants come at a critical time to advance Malaysia's digitalisation goals. "MDAG-AI establishes a foundational framework for Malaysia to emerge as a preeminent hub for AI innovation, while SmartMFG+ lays the groundwork for widespread digitalisation across the manufacturing industry. Collectively, these initiatives serve as a dual engine to advance our digital ambitions," said Anuar in a statement. The MDAG-AI grant is specifically designed to support Malaysian digital companies in the commercialisation of AI solutions. It targets high-impact projects that correspond with the national AI investment strategy, focusing on companies with capabilities across the foundational, enabling, and application layers of AI. Eligible companies may apply for funding of up to 70 per cent of total project costs, capped at RM2 million, for projects spanning a duration of up to one year. The SmartMFG+Incentive Programme is a vital initiative within the New Industrial Master Plan 2030 (NIMP2030). Its objective is to expedite digital adoption within the manufacturing sector by providing support to local technology solution providers in scaling digital solutions across various domains such as operational efficiency, predictive maintenance, real-time production intelligence, supply chain analytics, and quality assurance. Selected MD-status companies will receive funding of up to 70 per cent of their solution development costs, with the maximum amount capped at RM75,000 per company.
BusinessToday
04-07-2025
- Business
- BusinessToday
Nationgate, Genting Plantations Lead The Way As Market Closes Slightly Higher
The stock market closed marginally higher on July 4, supported by selective buying in heavyweight counters despite subdued overall market activity. The market breadth was slightly positive, with 489 gainers outpacing 466 losers, while 509 counters were unchanged, 923 were untraded and 21 were suspended. Trading activity, however, slowed, with turnover falling to 3.43 billion shares worth RM2.47 billion, down from 5.09 billion units valued at RM2.9 billion in the previous session, indicating a cautious tone ahead of the weekend. Top performer for July 4 was Genting Plantations Bhd, which climbed 22 sen to RM5.23 on a volume of 324,000 shares. Tech-focused Nationgate Holdings Bhd also drew strong investor interest as the counter jumped 11 sen to RM1.78 with 5.6 million shares traded, making it the most actively traded counter of the day. Other notable gainers included Can-One Bhd, up 10 sen to RM2.20, Heineken Malaysia Bhd, which gained 10 sen to RM25.44, and Hong Leong Industries Bhd, which grew 10 sen to RM13.52. On the losing end, consumer giant Nestlé (M) Bhd led the decliners, falling RM2.48 to RM77.52. It was followed by Dutch Lady Milk Industries Bhd, which slipped 54 sen to RM29.14, and Petronas Dagangan Bhd, which dropped 40 sen to RM21.56. Other laggards included Westports Holdings Bhd, down 22 sen to RM5.58, and Timberwell Bhd, which lost 14.5 sen to 24.5 sen. Market analysts expect the FBM KLCI to remain in a consolidative phase, with investors turning cautious ahead of upcoming global economic data and earnings announcements. Related
Focus Malaysia
04-07-2025
- Business
- Focus Malaysia
Bursa Malaysia closes slightly higher
BURSA Malaysia turned slightly higher at the close today, supported by continued buying in selected heavyweights led by financial services, industrial products and services counters amid a mixed regional markets' performance, an analyst said. At 5 pm, the FBM KLCI gained 1.20 points, or 0.08 per cent, to 1,550.19 from Thursday's close of 1,548.99. The index opened 1.75 points higher at 1,550.74 and hovered between 1,547.70 and 1,551.78 throughout the day. The broader market was positive with 489 gainers compared to 466 decliners, while 509 counters were unchanged, 923 untraded and 21 suspended. Turnover fell to 3.43 bil units worth RM2.47 bil against 5.09 bil units worth RM2.9 bil on Thursday. —July 4, 2025
The Star
04-07-2025
- Business
- The Star
EPCC players set to benefit as solar panel prices hit lowest point in 2025
KUALA LUMPUR: Engineering, procurement, construction and commissioning (EPCC) players are poised to benefit the most in 2025, as solar panel prices are projected to hit their lowest point this year, said Kenanga Investment Bank Bhd (Kenanga Research). In a note today, it said the total EPCC contract value has surged to RM17.4 billion from RM12.4 billion, ensuring sustained sector activity until the end of 2028. "Thus far, we have already seen RM2.9 billion in contract awards announced by listed firms. "In this space, we see market leader Solarvest Holdings Bhd as a key beneficiary and expect it to grab at least 30 per cent of the EPCC market share,' it said. Kenanga Research expects a pick-up in contract flows over the medium term with the corporate renewable energy supply scheme (CRESS) back on the table and upside from the new tariff. Its top pick is Solarvest because it is better positioned to benefit from the solar EPCC momentum, while maintaining its position in Pekat Group Bhd (Pekat). It said Solarvest has a strong market position, execution track record, clientele, and value proposition of its photovoltaic system financing programme. It also has strong earnings visibility backed by sizeable outstanding order and tender books, as well as recurring income from a growing portfolio of solar assets. Meanwhile, Pekat stands out for its focus on high-margin residential and commercial rooftop solar projects, but the game changer here is its newly acquired switchgear business. As one of the top four medium voltage switchgear suppliers to Tenaga Nasional Bhd , EPE Switchgear (M) Sdn Bhd is set to ride on TNB's massive Regulatory Period 4 capex, with further upside from leveraging PEKAT's network to capture a larger slice of private sector deals such as data centres. Kenanga Research maintains its "Overweight' rating on the sector. - Bernama
