Approved investment in medical devices hit RM11 bln in 2010 to 2014
KUALA LUMPUR: Malaysia’s approved investment in the medical devices industry totalled RM11 billion from 2010 to 2014, while exports rose 12.6 per cent to RM13.49 billion in 2014 from RM11.94 billion in 2013.
International Trade and Industry Minister Datuk Seri Mustapa Mohamed said a total of 42 projects were approved in 2014 alone, with investments worth RM2.15 billion.
“Domestic investments in medical devices dominated with investments of RM1.2 billion and foreign investment amounted to RM950.6 million.
“The electrical and electronics sector continued as our backbone export, with these medical devices and pharmaceutical exports growing,” he said after a ministry dialogue with pharmaceutical and medical devices industry associations yesterday.
In 2014, pharmaceutical exports rose 19.8 per cent to RM1.17 billion from RM982 million in 2013.
For the first quarter of this year, total investment approved for medical devices was RM464.6 million (for 11 projects), while for the pharmaceutical sub-sector, RM75.3 million worth of investment (five projects) was approved, the minister said.
Leaders of five industry associations – the Malaysian Organisation of Pharmaceutical Industries, the Pharmaceutical Association of Malaysia, the Association of Malaysian Medical Industries, the Malaysia Medical Device Association and the Cosmetics, Toiletry and Fragrance Association of Malaysia – attended the session.
It aimed to review and consider for implementation several recommendations pertaining to the pharmaceutical and medical devices sectors, said Mustapa.
He said the medical devices industry has been identified as a sub-sector with high growth potential under the 11th Malaysia Plan, in view of its linkages to other economic sectors such as manufacturing and services.
“The government recognises the market potential for pharmaceutical and medical devices is growing in the ASEAN region,” he said.
Mustapa said ASEAN needs a resilient health system to control the spread of communicable and emerging infectious diseases, as well as enhanced access to essential healthcare services and good quality medical products, including medicines and pharmaceuticals.
Discussions at the dialogue centred on the cost of doing businesses, the Goods and Services Tax, incentives, government procurement, intellectual property rights, financing, clinical trials, research and development, registration procedures/licensing requirements and supply chain issues.
On the trans-Pacific Partnership Agreement (TPPA), Mustapa said the proposed regional free trade deal is still at the negotiation process. — Bernama KUALA LUMPUR: Moody's Investors Service has assigned an A3 long-term foreign currency senior unsecured debt ratings to Malayan Banking Bhd's (Maybank) SG$54 million notes.
The notes, issued under the bank's US$5 billion multi-currency medium-term note programme, bears a fixed rate coupon of 2.08 per cent per annum, and will mature on June 26, 2018.
"The outlook on the A3 debt rating is positive, in line with the positive outlook on Maybank's A3 deposit ratings and Malaysia's A3 sovereign rating," said the rating agency in a statement.
The A3 rating assigned to the Singapore Dollar notes was in line with Maybank's A3 foreign currency deposit rating.
The Singapore dollar notes constituted an unconditional, unsubordinated and unsecured obligation of Maybank, and ranked pari-passu with Maybank's other senior unsecured obligations.
"A potential upgrade of Malaysia's A3 sovereign rating would likely lead to an upgrade of Maybank's A3 foreign currency deposit and senior debt ratings, assuming the bank's standalone credit metrics remain robust," it said. — Bernama