Matrade eyes up to RM3bil in business deals at Farnborough airshow

An agreement for 50 A330neo aircraft valued at US$13.8bil (RM44.16bil) was signed at the Farnborough Airshow in the UK by AirAsia X CEO Azran Osman-Rani and Airbus President and CEO Fabrice Brégier, ( Tony’s right) and was witnessed by Co-founder and Director of AirAsia X Tan Sri Tony Fernandes, AirAsia X chairman Tan Sri Rafidah Aziz and Airbus Chief Operating Officer, Customers John Leahy ( extreme left)

KUALA LUMPUR: Malaysia is expected to reap up to RM3bil in business deals from its participation in the Farnborough International Airshow (FIA), United Kingdom, this year, said the Malaysia External Trade Development Corp (Matrade).

Transport, defence and maintenance, repair and overhaul (MRO) division director Md Silmi Abd Rahman said RM2.02bil in business deals were clinched at 2014’s airshow.

“This year we are sending the country’s biggest participation so far with 25 companies, which is more than double last year’s participation of just 10 companies,” he told a media briefing in Kuala Lumpur on Thursday.

Matrade, in collaboration with the National Aerospace Industry Coordinating Office, Malaysia Airports Holdings Bhd and Composite Technology Research Malaysia Sdn Bhd, will organise the Malaysia Aerospace Industry Export Acceleration Mission to the FIA, scheduled from July 11-17.

Md Silmi said apart from clinching new business deals, the mission would also provide the country’s aerospace small and medium enterprises with greater access to the European market.

He said Matrade would also use the airshow to promote Malaysia as the preferred aerospace hub for Asia-Pacific, as well as, showcase Malaysia’s Aerospace eco-system.

“We want to showcase Malaysia’s industry development and promote the capabilities of the country’s aerospace supply chain,” said Md Silmi, adding that Malaysian companies were expected to ink five agreements and memoranda of understandings with foreign counterparts.

Currently, there are 157 aerospace companies in Malaysia with 70% are local-based players.

The MRO sector is the largest contributor to the industry with revenue accounting for 55% of the total industry topline, followed by aero-manufacturing which made up 33% of the industry’s revenue.

Last year, Malaysia’s export of aerospace products grew a significant 44.7% to RM4.2bil. - Bernama