MSC Malaysia Status Companies Continue To Generate Growth

KUALA LUMPUR, Oct 13 (Bernama) -- MSC Malaysia-status companies continue to generate growth, recording a 12 per cent increase in revenue in the last fiscal year despite the current economic climate.

Malaysian Development Corporation (MDeC) chief executive officer Datuk Badlisham Ghazali said today that MSC Malaysia was also seeing more interest, especially from overseas players.

"Growth in the last fiscal year saw the number of new foreign and local companies joining our initiative here increased by 11 per cent," Badlisham said.

"And most impressively, revenue increased by 12 per cent even with these economic conditions," he said at the Frost & Sullivan Growth, Innovation and Leadership Congress here.

Badlisham said over the past few years, MSC Malaysia has gone beyond Malaysian shores and made its mark regionally and globally.

"Many international companies and organisations have set up their offshore bases here because MSC Malaysia continues to offer the best of first-world knowledge and infrastructure but at developing nation cost," he said.

"We are the gateway to growing profits in Asia's booming information and communications technology (ICT) market," he added.

At the event, Science, Technology and Innovation Minister Datuk Dr Maximus Ongkili said MSC Malaysia, under the stewardship of MDeC, has continued to show growth and accomplish greater heights.

"MSC Malaysia has also stamped its mark in the global marketplace, with its initiative in the shared service and outsourcing (SSO) sector," he said.

The text of his speech was delivered by the ministry's Deputy Secretary-General (Science Services), Datin Paduka Dr Khatijah Mohd Yusoff.

Ongkili said the country's SSO sector was growing at an estimated rate of 30 per cent and has the potential of hitting the RM6.4 billion mark by 2012.

The SSO cluster, he said, was the biggest contributor to MSC Malaysia's revenue, accounting for RM5.34 billion or 31.27 per cent of total revenue in 2007.

He added that the cluster also accounted for the highest number of local and foreign knowledge workers employed, with a total of 32,500 jobs created.