MTDC To Utilise US$39.06 Mln In 2017 To Enhance Commercialisation Activities

KUALA LUMPUR, Oct 24 (Bernama) -- The Malaysian Technology Development Corporation Sdn Bhd (MTDC) will be utilising US$39.06 million (RM163 million) in its budget next year to enhance the country's commercialisation activities in the technology sector. Chief Executive Officer Norhalim Yunus said the approved allocation will be channelled to six funds which MTDC manages including the Halal Technology Development Fund (Halal Fund) introduced in April this year. "The figure is higher than this year's allocation where RM145 million was approved under the 11th Malaysia Plan (RMK11). "From the Halal Fund, we will be disbursing RM10 million by year-end from this year's balance of RM43 million," he told reporters after the signing of a Memorandum of Understanding (MoU) between eight MTDC grant recipients and Central Purchasing Sinergi Surya Medika Pimpinan Pusat (PP) Muhammadiyah of Jakarta, Indonesia. At the event, Norhalim said the MoU involves the distribution of medical products and services in the Indonesian market. "We also hope this collaboration would encourage the development of medical products and equipment to meet local and regional demand," said Norhalim. The beneficiary companies were Foresight Industries Sdn Bhd, LadiY Healthcare Sdn Bhd, OSA Technology Sdn Bhd, Cell Tissue Technology Sdn Bhd, Farmasia Sdn Bhd, RVR Diagnostic Sdn Bhd, Medicfit Technology Sdn Bhd and CALMS Technologies Sdn Bhd. Central Purchasing Sinergi Surya Medika Pimpinan PP Muhammadiyah is a subsidiary of the Muhammadiyah Group, the second largest Islamic organisation in Indonesia with 104 hospitals. MTDC, a wholly-owned subsidiary of Khazanah Nasional Bhd, has been a key player in the commercialisation and management of government funding since the seventh Malaysia Plan. -- BERNAMA