Malaysia's Selangor State Banks On Ecosystem To Drive Its Aerospace Industry

JOHOR BAHARU (Johor, Malaysia), July 19 (Bernama) -- Banking on the growing aerospace cluster in Selangor, its state government is encouraging local and international aerospace players to tap into the present ecosystem there for further expansion. Invest Selangor Chief Executive Officer Hasan Azhari said upcoming future developments would boost the already strong ecosystem to benefit the aerospace players. These developments include an aerospace hard metal manufacturing park in Serendah; and Subang, Subang Nexus and Sepang, which is known as the Kuala Lumpur International Airport Aeropolis. "The aerospace industry in Malaysia recorded a total revenue of US$2.96 billion (RM11.8 billion) in 2014 and forecast at US$3.16 billion (RM12.6 billion) in 2015. The potential in the industry is huge," he told some investors in Singapore recently. (US$1 = RM3.98) Hasan was part of the two-day Selangor state investment mission to Singapore led by Senior Executive Councillor Teng Chang Kim, who is also Chairman of the Standing Committee for Investment, Industry & Commerce, Small & Medium Enterprise and Transportation. The session on aerospace attracted close to 40 experts from the aerospace and related industries in Singapore who were briefed on potential "golden opportunities" as well as incentives. The participants were also briefed by Malaysian companies which are already in the state's aerospace cluster, including Malaysia Airport Holdings and UMW Corporation. A participant said after the session that industry players from Malaysia and Singapore could work hand-in-hand using each other's strengths to tap the rapid growth of the industry especially with multinational companies looking at the Asian region for future growth. -- BERNAMA