Photo: Briand Greer shows to Yang Berhormat Dato' Sri Mustapa Mohamed, the MITI Minister and entourage - Honeywell's portfolio of software-industrial products and solutions that will help Malaysia and ASEAN embrace Industry 4.0 at 'The Honeywell Connected Experience' centre in the new Asean HQ.
US-headquartered diversified technology and manufacturing giant Honeywell has just zeroed in on Malaysia as the ideal hub to boost its expansion into the Asean region.
Speaking in Kuala Lumpur during the establishment of the company's new Asean regional headquarters (2 October 2017), Honeywell Asean president Briand Geer (pic below) explained the company's top line intention. "We believe the Asean region offers tremendous growth potential due to its favourable demographics and alignment with Honeywell's portfolio and global macro trends such as the growing middle class, urbanisation, green and efficient energy, safety and security, and digitisation."
Malaysia's digitisation drive has notably increased a range of initiatives in the last few years. Among the strategies, a hub vision is intended to gather and rapidly expand several key economic growth drivers. National ICT agency Malaysia Digital Economy Corporation (MDEC) chief executive officer Datuk Yasmin Mahmood discusses national digital economy priorities in exclusive interviews. (See - Deep Dive into Malaysia's Digital Economy with MDEC CEO Datuk Yasmin Mahmood - Part 1 and Part 2.)
In addition, other bodies such as research agency MIMOS and NanoMalaysia are focused on developing and commercialising emerging technology solutions within an Industry 4.0 matrix. Digital security has also taken on a sharper business edge in much of CyberSecurity Malaysia's recent messaging to industry. (See - Feeding the 4th Industrial Revolution in Malaysia, MIMOS sees two major talent moves)
One hub, the Principal Hub initiative, which was launched by the Malaysian Investment Development Authority (MIDA) in 2015, is what attracted Honeywell -the first multinational - to take advantage of this scheme.
With a population of 650 million, Asean is expected to become the world's fourth largest economy by 2050. A high technology adoption rate coupled with a rapidly growing midsegment adds to the opportunities for companies.