KUALA LUMPUR: YGL Convergence Bhd (YGL) had entered into a cooperation agreement with Hongtian Intelligent Technology (Tianjin) Co. Ltd (Tianjin Hongtian) to establish a research and education collaboration under the proposed cooperation vehicle, known as MCITEC Sdn Bhd.
YGL in its filing with Bursa Malaysia today said the objective for the establishment of MCITEC is to promote cross nation sharing of research and development resources, co-development of intellectual property and promotion of national technology through the ‘One Belt One Road’ initiative.
“Under this initiative, Tianjin Hongtian will provide the high technology manufacturing training materials to MCITEC.
MCITEC will be responsible for the localisation of the content outside China and dissemination of high technology training programs to other ASEAN countries from Malaysia,” it said.
YGL believes that cooperation is in the best interest of the group and its shareholders, as the cooperation will provide the small and medium sized manufacturers (SMEs) in Malaysia with a training and education centre for developing IND 4.0 skill sets among their existing workers.
“It will also support the government Industry 4.0 policy of providing training and education to future talents in the areas of technology, accelerate the rate of adoption and deployment of Industry 4.0 in Malaysia,”it added.