Plastics makers target RM20b sales


  • Economy
  • Friday, 02 Oct 2015

KUALA LUMPUR: The Malaysia Plastics Manufacturing Association (MPMA) is hopeful that the turnover for the plastics industry will breach RM20bil this year.

Its president Datuk Lim Kok Boon said the push for the industry to move up the value chain had resulted in a turnover of RM9.42bil for the first half of 2015.

“Last year, the turnover was over RM19bil in respect of exports,” Lim told reporters at the Future of Innovation For The Plastics Industry Conference here yesterday.

“The MPMA intends to grow bigger and faster with sufficient resources invested in human capital development that must precede the latest technology,” he added.

He said Malaysians players were capable of competing with their counterparts from China and Vietnam despite the labour cost being higher at home.

He added there was no substitute for training in the industry as employees needed to continuously learn and grow, and at the same time, accelerate the industry to achieve the target of 80% exports.

The MPMA has currently has about 800 members representing 60% of plastics manufacturers responsible for 80% of the country’s total production of plastic products.

Meanwhile, Pembangunan Sumber Manusia Bhd (PSMB) – an agency under the Human Resources Ministry – chief executive CM Vignaesvaran said Malaysia was a net exporter of plastic products and had been rated as among the most competitive in Asia.

“The upcoming Asean Economic Community which will result in free movement of labour, will pose a tougher challenge for the industry players.

“Therefore, it is imperative for manufacturers to sustain their competitiveness through the latest technology, enhanced skilled workers and penetrating new markets in developed and developing countries,” he added.

He noted that as of August, 680 employers had registered under the plastics industry, with a levy contribution of RM34.1mil, and with RM8.1mil in total financial assistance approved. — Bernama

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: -1
Cxense type: NA
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

Business , MPMA

   

Next In Business News

Job hole or inflation? Fed policymakers split over risk view
Banks clear Fed stress test, paving way to boost buybacks, dividends
Oil price settles up near 3-year highs on signs of demand growth
China's DiDi to list on New York Stock Exchange
GLOBAL MARKETS-Global shares gain as infrastructure spending, jobs data boost
Consolidation is inevitable
Gamuda posts higher Q3 earnings
Xin Hwa reprimanded, two directors fined RM150,000
EcoWorld Malaysia registers strong sales, higher earnings in Q2�
Ekuinas records strong investment returns for 2020

Stories You'll Enjoy


Vouchers