KUALA LUMPUR – A total of 66 small and medium-sized enterprises (SMEs) and mid-tier companies have been awarded the government’s National Economic Recovery Plan 2020 #SMART Automation Grant (SAG).
In a statement today, the Malaysia Digital Economy Corporation (MDEC) said the grant, involving a total of RM6.2 million, was awarded to registered businesses in primarily traditional or non-technology activities from the services sector.
MDEC chief marketing officer and head of digital investments and brand Raymond Siva said the outcome-based matching grant will help these companies accelerate automation and achieve productive results, such as increased revenue, savings in business costs, reduced process time cycle and man-hours spent, and new sources of growth.
“Each successful applicant had been allocated up to 50% of their total project cost, subject to a limit of RM200,000, or whichever is the lowest, through this matching grant.
“This means the successful applicants will pay at least 50% of the total cost of the digitisation project and subsequently receive the remaining amount based on the achievements of the agreed milestone deliverables,” he said.
MDEC said the grant, launched in July 2020, had been conceptualised as a matching grant for companies in the services sector to spur them towards automating their business processes and pursue full digitisation.
“The grant allocated from the 2020 Penjana initiative aims to drive these businesses towards kickstarting the implementation of digital processes and the use of technology tools that will automate their business operations,” it said.
MDEC noted that all of the 66 approved SAG recipients come from all over Malaysia, including service providers from the wholesale and retail trade (30%), general services (24%), and professional services (14%).
The other sectors consist of transportation and storage, tourism, education, healthcare, food and beverage, financial and insurance, and real estate and construction. – Bernama, February 4, 2021
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