GOVERNMENTS/ASSOCIATIONS/FASTENER GROUPS 

The automotive component export of Malaysia reached a new high in 2018 to up to MYR 12.1 billion (around USD 2.928 billion). According to Madani Sahari, Chief Executive of Malaysia Automotive, Robotics and IoT Institute (MARii), several policies proposed by the Malaysian Government have helped boost the surge in the automotive component export in Malaysia and the figure is estimated to climb to MYR 13 billion (around USD 3.146 billion) in 2019. The Malaysian Government is planning to announce its new national policy for the automotive industry, which will be specifically focused on electric vehicles, Industry 4.0, AI, IoT, etc.