Five UK tech firms to invest in Malaysia

01 May 2019 / 19:50 H.

PETALING JAYA: A total of five UK technology organisations are investing in Malaysia, according to a joint statement by the UK Department for International Trade and the Ministry of Communications and Multimedia Malaysia.

The ministry said this reinforces the UK’s long-term commitment to Malaysia as a key partner in trade and investment.

“It also reflects Malaysia’s attractiveness as an investment destination and as a springboard to the wider Asean market.”

The five companies are Ideagen, AuditXPRT, Mitra Innovation, BAE Systems Applied Intelligence and Sage.

Minister of Communications and Multimedia Gobind Singh Deo (pix) said as Malaysia continues to implement technologies such as artificial intelligence, robotics and cyber security, the investment of more UK tech companies to Malaysia highlights their confidence that Malaysia is moving in the right direction.

“The aim of collaboration in the area of technology is incredibly essential not only to aid economic growth in Malaysia but also to help encourage innovation and productivity. I also hope these investments will open up prospects for businesses in both countries and help ensure we maximise the benefits of technology for our societies and nation. I am positive that this new commitment will create many possible win-win situations and unlock synergies that will result in increasing trade and improve technology related business.”

Ideagen will open a Centre of Excellence in Kuala Lumpur as part of its global strategy, creating up to 70 technology jobs in Malaysia.

AuditXPRT has made Kuala Lumpur its Southeast Asia hub and planning to recruit up to 17 people in Malaysia in support of its AI solution to transform regulatory compliance and audit. It is currently working on a pilot project with a major local bank to automate its know-your-customer process using its AI solution.

Meanwhile, Mitra Innovation is working in collaboration with a Malaysian partner to enhance the Malaysian ecosystem. This partnership will help modernise organisations’ technology capabilities through innovation, embracing AI to improve cybersecurity. By recruiting over 20 people locally, Malaysia will become the company’s hub for Asean.

BAE Systems Applied Intelligence continue to grow and develop its global engineering centre in Kuala Lumpur, expecting to achieve a milestone 500 staff in the very near future.

With operations in Malaysia for over 20 years, Sage delivers superior accounting, payroll and enterprise management solutions to mall and medium enterprises and has ambitious plans for growth and continued investment in the Malaysian economy.

The announcement came following Gobind’s visit to the UK in February 2019 where he led a delegation consisting of senior representatives from the Malaysian Multimedia and Communications Commission, Malaysia Digital Economy Corporation and the National Cyber Security Agency.

The three-day visit saw the Malaysian delegation having a series of high-level meetings with government, industry and academia, to share best practice and explore collaborations in AI, cyber security, 5G and creative content.

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