MIDA approves 179 R&D projects

PETALING JAYA: The Malaysian Investment Development Authority ( MIDA) has approved 179 projects involving research and development (R& D) activities with total investments of RM2.84 billion as of June this year.

Out of the total, six R&D projects with RM295 million in investments were approved in the first six months of this year. The projects were mainly in the electrical and electronics, chemical and palm oil industries. Datuk Azman Mahmud, MIDA chief executive officer

Chief executive officer, Datuk Azman Mahmud, said the spillover effects from the investments included the creation of more than 6,300 employment opportunities in the respective industries. “Out of the total, six R& D projects with RM295 million in investments were approved in the first six months of this year. The projects were mainly in the electrical and electronics, chemical and palm oil industries,” he told reporters at the launch of Monash Malaysia R& D Sdn Bhd ( MMR& D) yesterday. MMR& D is one of the five Malaysian private higher education institutions that have been granted R& D status by MIDA. These approvals enable their clients to enjoy double deduction on R& D expenditure. “It is a tax efficient way to invest in R& D whereby the industry partners can access the universities’ expertise while enabling the academia to produce more research with higher commercial potential,” said Azman. He said since its establishment, MMR& D had invested RM3.1 million to undertake various R& D activities. MMR& D is involved in undertaking brain research through the Brain Research Institute at Monash Sunway, which is the varsity’s main institute for neuroscience research led by a team of the world’s leading and eminent neuroscientists. Companies across a wide range of industries in Malaysia would benefit from the R& D expertise offered by MMR& D, Azman said. Some of the companies that have tapped into MMR& D’s services include Agilent, ASM Pacific Technology, B Braun Medical Industries and Du Pont Malaysia. “We urge more companies, particularly the small and mediumsized companies to leverage on R& D establ i s hme nt s like MMR& D and explore new areas of growth,” he added. — Bernama