KUALA LUMPUR (July 19, 1:30 p.m. ET) – Export markets were good to Malaysian plastics companies in 2010. The sector increased its exports by 14.6 percent to RM9.4 billion (US$3.12 billion) compared to 2009.
Lim Kok Boon, president of the Malaysian Plastics Manufacturers Association (MPMA), disclosed the figures at the group's annual dinner on July 16.
Lim reported that the industry's 2010 sales increased by 8.2 percent to RM15.8 billion (US$5.25 billion).
Lim urged the industry to continue its efforts in upgrading product and professional capacities.
He announced that the Malaysian government recently awarded a grant of RM3 million (US$996,082) for talent development through higher skills training, following a MPMA 2008 industry proposal.
The government is considering an additional RM7 million (US$2.32 million) for technology development or product development and R&D activities under the industry proposal, Lim said.
MPMA is also the sponsor of the M-Plas trade show, scheduled for Nov. 9-12 in Kuala Lumpur.