Matrade continues raising mid-tier companies

KUALA LUMPUR: The Malaysia External Trade Development Corp (Matrade) will continue helping mid-tier companies in Malaysia penetrate new markets and expand their footprint globally through its signature programme, the Mid-Tier Companies Development Programme (MTCDP).

Muhd Shahrulmiza Zakaria, deputy director of Matrade’s Mid-Tier Unit, Customised Programme Section Transformation and Digital Trade Division, said the programme launched in 2014 set out to be a customised exporter-development initiative because the agency recognised the need to assist such companies.

“Most other programmes focus on micro, small and medium-sized enterprises but once they go beyond that, they still need help,” he said during the MTCDP Wave 8 and 9 Graduation and Wave 10 Kick-Off event yesterday.

According to Shahrulmiza, the programme lasts roughly nine months but the companies will continue to be facilitated by Matrade for a longer period.

He said the journey and lessons on achieving exports is tailored for each participating company and covers criteria such as technology development, business matching and access to financing, among others.

“Every company has different needs and we are open to all sectors. Right now, we are aligned with the Madani framework and other blueprints like the New Industrial Master Plan 2030 and are recruiting companies from industries like pharmaceuticals, medical devices, aerospace and services,” he said, adding that more than 95% of companies under the programme have reported an increase in their exports.

Shahrulmiza said the programme is aligned with Matrade’s goal to achieve a RM1bil increase in exports every year.

The MTCDP targets export-oriented companies with annual revenues between RM50mil to RM500mil for manufacturing companies, and RM20mil to RM500mil for service-based companies.

For 2024, the MTCDP attracted the participation of 25 companies and the process starts with one-on-one consultation sessions with experts, creation of individualised market strategies and how to implement them.

Matrade chairman Datuk Seri Reezal Merican Naina Merican said the programme has contributed to Malaysia’s trade performance so far.

“For the third consecutive year, Malaysia’s total trade surpassed RM2 trillion, reaching RM2.64 trillion, with total exports recording RM1.43 trillion,” he said.

He noted companies that participated in MTCDP successfully achieved significant export growth based on the impact tracking report for the programme.

“In 2022, the cumulative annual revenue recorded RM33.9bil, with 61% or RM20.9bil generated through exports. Of this achievement, bumiputra-status companies recorded RM5.52bil of cumulative annual revenue with nearly 10% contributed from export activities,” he said.