Find New Sources Of Value, Growth Via Technologies - Msian Minister

KUALA LUMPUR, Dec 5 (Bernama) -- There is a need to find new sources of value and growth through the convergence of new technologies, as the global manufacturing sector is seeing unprecedented transformation driven by Industry 4.0 technology. International Trade and Industry Minister Darell Leiking said since Industry 4.0 had been proven to benefit the private sector and industry directly, firms should make the move to bring their business higher in the value chain. "Globally, the automotive sector is the main driver behind the implementation of robotics and Internet of things (IoT). This can be seen in both the automotive manufacturing and services sectors. "Applications such as advanced driver assistance systems, driving management systems and camera technology that are equipped in modern cars will pave the way to create new businesses and job opportunities through connected mobility," he said in his speech at the Malaysia Car of the Year Awards (COTY) 2018 here Tuesday. COTY 2018 recognised the nation's single most influential contributor to the four decade-long drive towards Malaysia's industrialisation that has led to increased technology penetration and meaningful participation of local talent and businesses within the automotive sector. Prime Minister Dr Mahathir Mohamad was honoured as the first recipient of the COTY Lifetime Automotive Award. The core of his industrial vision for Malaysia was the creation of nation's automotive industry, seen through the establishment of Heavy Industries Corporation of Malaysia (HICOM) in the early 1980s, creating the numerous automotive ventures seen throughout the industry supply chain. The other major awards, namely Overall Malaysia Car of the Year 2018 and Automotive Personality of the Year 2018, were won by Peugeot 3008 1.6 Active and the Malaysian Automotive Association (MAA) President Aishah Ahmad, respectively. Among other awards, Perodua Myvi 1.5, secured the Entry Level Car of the Year award, Volkswagen Golf 2.0 GTi (facelift) won the Hot Hatch of the Year, Subaru XV 2.0i-P AWD bagged the Entry Level SUV of the Year while the Mid-size SUV of the Year award went to Mitsubishi Outlander 2.4 4WD. Meanwhile, Darell also announced the Malaysia Automotive Institute, an agency under the Ministry of International Trade and Industry, would be rebranded as the Malaysia Automotive, Robotics and IoT Institute (MARii). He said the rebranding would expand the scope of the agency as the focal point, coordinating centre and think-tank towards enhancing the competitiveness of the automotive industry and overall mobility, including intelligent transportation system-related services through adoption of robotics and the IoT. – BERNAMA