PETALING JAYA: A women-focused financing initiative has channelled RM2.5mil to support the expansion of a local advanced manufacturing firm, underscoring efforts to grow high-value, women-led businesses.
Glide Technology Sdn Bhd secured the financing from SME Bank under the MySMELady 2.0 programme, with the mock cheque presented by Entrepreneur Development and Cooperatives Minister Steven Sim Chee Keong at a ceremony in Shah Alam on Monday (May 4).
The financing, provided under the Dana Ekonomi Usahawan Wanita (Dewi) initiative, will be used to acquire laboratory equipment, expand production machinery and upgrade the company’s electrical infrastructure from 400A to 1400A.
These upgrades are expected to support the scaled manufacture of the company’s MPOB-Glide palm-based transformer oils, as well as its co-branded Petronas Tranol Glide product range.
Sim said Glide Technology’s growth in advanced manufacturing reflects the type of business the ministry aims to nurture through Dewi.
“Glide represents the kind of model we want to support, one that builds strong brands, invests in technology, develops talent, and moves up the value chain. This shows Malaysia’s business ecosystem can move beyond the ‘buy cheap, sell cheap’ trap,” he said in a statement.
Glide Technology president Datuk Muhazli Muhamad said the financing would strengthen the company’s long-term plans.
“It strengthens the foundation we have been building at Glide for nearly two decades — Malaysian-made products, Malaysian institutional partnerships, and Malaysian industrial ambition.
“We are committed to deploying every ringgit responsibly and delivering on the trust placed in us,” he said.
Chief financial officer Datin Zarita Azlin Ibrahim said the funding would be channelled towards clearly identified priorities, including laboratory equipment, production machinery and power infrastructure upgrades.
“Our role is to ensure every ringgit is channelled into productive capacity, with the financial governance and reporting standards that support our long-term growth,” she said.
Also present at the ceremony was Glide Group chairman Tengku Syed Razlan Jamalullail.
Founded in 2007, Glide Technology is a 100% Bumiputera-owned SME specialising in lubricant manufacturing, with export operations in Angola and collaborations with Petronas and the Malaysian Palm Oil Board.
MySMELady 2.0 is SME Bank’s Shariah-compliant financing facility designed to support women entrepreneurs in expanding production capacity, improving market reach and strengthening competitiveness.
