DPM Muhyiddin Urges More Malaysian Companies To Expand Potential Overseas

From Sh Nur Shahrizad Sy Mohamed Sharer PERTH, Dec 8 (Bernama) -- Deputy Prime Minister Muhyiddin Yassin has urged more Malaysian companies to explore overseas markets and expand potential through cooperation with foreign companies involved in various key sectors, especially technology, oil and gas. These sectors he said, had big potential with a market reaching billions of ringgit globally and is among those identified in helping the country achieve the objectives of the National Key Economic Areas (NKEA). He said Sapura Group, which is cooperating with an Australian company in the production of Remotely Operated vehicles (ROV) and Unmanned Aerial Vehicles (UAV) involving advanced technology, is an example of a Malaysian company enjoying success overseas. "Sapura is already known as a company that has pioneered a number of sectors, particularly in oil and gas. "So, we are confident that with the presence of such a Malaysian company, this sector will not just expand but become a main contributor together with others who are already involved in it. "This is because in 10 years time, the 12 NKEAs will become the catalyst to drive Malaysia's economy and oil and gas is one of areas," he added. Muhyiddin was speaking after a visit to Total Marine Technology (TMT) which is wholly-owned by SapuraCrest Petroleum Berhad at Bibra Lake, near here on Wednesday. Accompanying him on the visit was Sapura Group Chief Executive Officer (CEO) Shahril Shamsuddin. TMT is the producer of the ROV and UAV's supplied to various industries, especially oil and gas, as well as defence. Seeing Sapura as a local company with potential, Muhyiddin hoped that by entering into a strategic partnership with an Australian entrepreneur, it would add value to the fields explored by both companies in future. Meanwhile, Shahril said the cooperation between both companies which also involves research and development, can particularly enhance expertise and human resource skills in the company and in Malaysia generally. "Our main purpose is to acquire know how technology, so we can use it for the rest of the group by sending our people to Australia for training and exposure to major oil companies and then send them back. "This will enhance the level of competency and exposure for our engineers," he added. Shahril also said Sapura has at present invested about US$200 million in TMT. -- BERNAMA