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NEWS UPDATES 14 March 2010

Malaysian firms to benefit from Rolls Royce plant in Singapore

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Malaysian companies should gain from the presence of the Rolls Royce engine factory in Singapore by supplying components to the factory which is due to start operations in two years, reported Malaysia’s national news agency Bernama.

Malaysia's International Trade and Industry Minister Mustapa Mohamed said the jet engine maker had met several Malaysian companies with the capability to supply the necessary components last year.

The companies concerned are expected to locate their operations in the Iskandar Malaysia region which is close to neighbouring Singapore, he told Bernama Friday.

The minister is leading an eight-day trade and investment mission to three European countries, starting with the Netherlands on March 6, followed by Germany and the United Kingdom.

On his visit to the Rolls Royce headquarters in Derby, UK, on Thursday, Mustapa said the company was not affected by the global economic crisis compared to other well-known UK companies which underwent radical changes.

"Rolls Royce could cope because of its strength in technology after having spent heavily on research and development, and enjoying close relations with universities," he said.

"This model is good for Malaysia to become a developed nation with highly skilled workers and then to achieve the high income target," he added.

Rolls Royce has opened its apprentice programme to students aged from 14 and in Derby, the company has about 12,000 workers.

The UK remained Malaysia's third largest trading partner in the EU last year, with 13.1 billion ringgit ($3.7 billion) or 11.8 per cent in total trade with the EU.

The UK was also the third most important market for Malaysia in the EU, with cumulative exports at 7.1 billion ringgit ($2.01 billion) or 11.8 percent to the EU.

As at December last year, 372 manufacturing projects with UK participation have been implemented, with the projects valued at 5.6 billion ringgit ($1.6 billion).

Major investment areas were petroleum and petroleum products, chemicals and chemical products, basic metal products and rubber products.


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