Fund to upgrade facilities helps manufacturers modernise - Margma

KUALA LUMPUR: The RM245 million grant under the Domestic Investment Strategic Fund to upgrade facilities for Smart Manufacturing is in line with the industry's aspirations to fully automate and modernise manufacturing plants across the country.

The Malaysian Rubber Glove Manufacturers Association (Margma) said the RM200 million allocation set aside for rubber replanting programme and to provide infrastructure to increase latex production would help raise the income of rubber smallholders.

"Margma is also pleased with the extension of the incentive period for the Accelerated Capital Allowance of 200% on automation equipment for manufacturing sectors from the year of assessment 2018 to 2020," it said in its response to Budget 2018 tabled yesterday.

The incentives announced in Budget 2018 will undoubtedly boost the industry export of rubber gloves and substantiate Malaysia's number one position as the leading producer of the medical examination and surgical gloves in the world, it added. ā€” Bernama