Highlights

AmInvest Research Reports

Author: AmInvest   |   Latest post: Wed, 13 Nov 2019, 9:26 AM

 

Technology - Highlights of International Conference on Industry 4.0

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Investment Highlights

  • We attended the International Conference on Industry 4.0 held by SEGi University on Industry 4.0 (IR 4.0) enablers such as simulation, augmented reality, artificial intelligence, cloud computing and big data analytics, as well as blockchain.
  • We came away from the conference with the following key takeaways:

o Challenges in implementing IR 4.0: Among the key challenges shared by the speakers were: i) a lack of skills and resources (no "deep pockets") with the use of autonomous robots and smart manufacturing at only 7.4%; ii) risk management and compliance concerns e.g. regarding cyber security and data protection; iii) finding the right technology partners; and iv) enduring executive support and leadership.

o Recap on Industry4WRD and Budget 2020 incentives: After summarizing the background of the National Policy on IR 4.0 (Industry4WRD), MIDA recapped some of the major incentives available, including incentives announced under Budget 2019, which expanded the scope of the matching grants of the Domestic Investment Strategic Fund (DISF) and High Impact Fund (HIF), and the recently announced Budget 2020 incentives (see below).

Major tax incentives for manufacturing and services sector

  • Pioneer Status (PS): Income tax exemption of 70%–100% of statutory income for 5 to 10 years. Unabsorbed capital allowances and accumulated losses incurred during the pioneer period can be carried forward and deducted from the post-pioneer status of the company.
  • Investment Tax Allowance: An allowance of 60%–100% on qualifying capital expenditure (factory, plant, machinery or other equipment used for the approved project) incurred within 5 to 10 years from the date the first qualifying capital expenditure is incurred.

Source: AmInvest Research - 16 Oct 2019

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