Precision machinery industry orders drop 30%

(Kuala Lumpur, 2016) The Malaysia Mould and Die Association (MMADA), Chairman Chong Thim pointed out that the turnover of the precision machinery industry has shrunk by 30% last year, but many members are still improving the production process in a difficult situation.

“Although the orders of mold manufacturers in the industrial field have fallen by as much as 40%, many members can still readjust their operations, improve production processes, increase efficiency, and develop new markets to achieve growth.”

During the 23rd MMADA anniversary celebration dinner Mr. Chong Thim said in his speech; to overcome last year challenges, transformations is needed this year in order to attract new customer groups. Improve product quality, capabilities and productivity, and move towards a more precision and cost-effective production line, from the Original Equipment Manufacturer (OEM) to the Original Design Manufacturing (ODM). He believes that the manufacturer should expand the customer base from the traditional field to other growth areas in order to achieve success in difficult situations.

Accept the changes and adapt to the new business environment. He hopes that the government should ensure that political stability, economic and finances transparency.