Bank Pembangunan Malaysia Berhad (BPMB) together with Ministry of Science, Technology and Innovation funding agencies – Kumpulan Modal Perdana (KMP) and Malaysian Technology Development Corporation (MTDC)- announced strategic partnership to solve sectorial gaps using advanced technology and automation.

The collaborations will feature funding support from BPMB to drive digitalisation initiatives through the Bank’s own funds and the Industry Digitalisation Transformation Scheme (IDTS).

Meanwhile, the technical support from MOSTI’s funding agencies will be utilised to advance the Government’s Industry 4.0 initiatives to increase the contribution of sectors involved in high impact deep technology.

“We are happy to have forged these strategic partnerships with our esteemed partners and we are confident that together, we will be able to provide funding access to benefit a wider market segment,” BPMB president and CEO Arshad Mohd Ismail said in a recent statement.

He added that the collaborations are also expected to create more jobs through digital enablers in support of the evolving and growing need for digitalisation and automation of businesses.

“Looking ahead, we are hopeful for a fruitful endeavour and we are excited to leverage on our collective strengths and expertise to form the perfect synergy in our journey to champion Malaysia’s Industry 4.0 initiatives,” he said.

In BPMB’s collaboration with KMP – , both parties will collaborate to facilitate the implementation of the IDTS – aimed at reaching eligible technology-related small and medium-sized businesses requiring funding assistance to grow and expand into high-impact deep technology.

KMP’s guidance and experience in investing in technology-related ventures will provide BPMB with better insights into the technology sector.

The exchange of the Memorandums of Understanding with KMP and MTDC was held recently at MOSTI’s headquarters in Putrajaya, witnessed by MOSTI Minister Khairy Jamaluddin Abu Bakar. Also present were Arshad, MTDC CEO, Datuk Norhalim Yunus and KMP Acting CEO and CFO Yarham Yunus.