Strand Aerospace Malaysia Sdn Bhd (SAM), an Airbus-approved engineering services company, will spearhead investments of RM177 million to get aerospace suppliers to set up base here.
The company will be recruiting 6,000 engineers in Malaysia by 2020, to serve the global aerospace industry.
It will also develop a new software to train the engineers at its training centre in Kota Damansara in Selangor, said its chief operating officer Naguib Mohd Nor.
SAM, which has been in operation since October 2006, currently employs 40 engineers. By 2013, it plans to have 350 engineers.
Naguib said the growth in the number of engineers from 2013 to 2020 will be driven by foreign direct investment, capitalising on the readily available Malaysian talent pool.
The RM177 million investment is one of eight new initiatives announced by Prime Minister Datuk Seri Najib Razak yesterday, under the Economic Transformation Programme progress update. The project is expected to contribute RM3.5 billion to gross national income by 2010.
SAM is required to develop and position Malaysia as a hub for high-value engineering services, for the global aerospace market.
The company’s engineers specialise in aircraft primary structures analysis and design, and they have worked on a number of fixed wing and rotary wings for the entire Airbus fleet, as well as military aircraft such as Tornado, Harrier and Nimrod.
According to Naguib, the global engineering services industry, worth between US$200 million and US$250 million (RM598 million and RM747.5 million) currently, is expected to hit US$1 trillion (RM2.99 trillion) by 2020.
“The local industry is worth RM20 million per annum and has big potential to grow. Together with Matrade, Mida and Miti, we will be selling our talent globally,” he said after the announcement.
Naguib said the company will promote new talents to its existing customers, namely Airbus UK, Airbus North America, Messier-Dowty, BAe Systems, WS Atkins Aerospace, Aerosud, GKN Aerospace, GED Sitec, Assystems and CTRM.
“We expect our collaboration with Malaysian academia to yield more industry-ready graduates who will fuel the growth of this industry,” he said.
SAM is founded by its chairman, Datuk Dr Ahmed Tasir and Naguib, who jointly own 51 per cent of the company. The rest is held by British aerospace expert Anthony Bedborough, the company’s chief executive officer.
BTimes
Business & Investment Opportunities
YourVietnamExpert is a division of Saigon Business Corporation Pte Ltd, Incorporated in Singapore since 1994. As Your Business Companion, we propose a range of services in Consulting, Investment and Management, focusing three main economic sectors: International PR; Healthcare & Wellness;and Tourism & Hospitality. We also propose Higher Education, as a bridge between educational structures and industries, by supporting international programs. Sign up with twitter to get news updates with @SaigonBusinessC. Thanks.
No comments:
Post a Comment