MIGHT to unveil Aerospace, Maritime Industry Reports At LIMA'13

The Malaysia Industry-Government Group for High Technology (MIGHT) will unveil the Aerospace Industry Report (AIR) 2013 and the Maritime Industry Report (SBSR 2013) at the Langkawi International Maritime and Aerospace Exhibition (LIMA'13).

MIGHT said the reports are to be unveiled by Prime Minister Datuk Seri Najib Tun Razak tomorrow at its booth B908.

It said the AIR report indicates the major gains by the aerospace industry last year, recording a 9.4 per cent turnover growth and contributing 3.23 per cent to the country's gross domestic product.

"The RM30.3 billion turnover is backed by the vibrant airline activities, particularly low cost carriers, the expansion of aerospace manufacturing businesses and the positive development in the airport sub-sector," it said in a statement today.

MIGHT said the industry's positive development was also the result of the execution of investment projects by Aviatron, Eurocopter, RUAG, BHIC Aeroservices and Sepang Aircraft Engineering.

It said last year was a good year for Malaysia in terms of foreign direct investments (FDIs) and domestic direct investments (DDIs).

The Malaysian Investment Development Authority (MIDA) said 11 projects were approved last year, with investments totalling RM2.3 billion, representing 30 per cent of the transport equipment industry.

In terms of job creation, MIGHT said the approved projects are expected to offer 2,739 jobs, mostly in the aerospace manufacturing sub-sector.

"Last year, Malaysia's exports are worth about RM2.2 billion, mainly aerospace parts and components, while the imports are aircraft, raw materials and spare parts worth RM13.2 billion," it said.

MIGHT said the difference between the two reports can be significantly adduced through the localisation of aircraft parts and components such as the production of aerospace grade raw materials which will be the next investment proposition strategy for both MIDA and MIGHT.

Nonetheless, MIGHT said the shipbuilding and ship repair (SBSR) Industry were very much affected by the slowdown of the global economy.

In 2011, the industry comprising ship builders, ship repairers and marine equipment manufacturers recorded about RM7.05 billion in revenue.

In the same year, the SBSR Industry attracted investments worth RM6 billion, it said.

MIGHT said the SBSR Industry's plan has been included as an entry point project (EPP) under Business Services that supports the emergence of Malaysia as a shipbuilding and ship repair hub.

The EPP will be implemented by two leading players in the SBSR industry, namely Boustead Heavy Industry Corporation Bhd and Shin Yang Shipping Corporation Bhd, facilitated by the Performance Management and Delivery Unit (Pemandu) in the Prime Minister's Department and MIGHT as the EPP lead.