TWO significant agreements were sealed in Penang today, marking a momentous milestone, with each holding the promise of a transformative impact on the state.
Chief Minister Chow Kon Yeow was present to witness the signing of the Memorandum of Understanding (MoU) between YGL Convergence Berhad and Digital Penang, as well as an agreement forged between YGL Convergence Berhad and Exabytes Network Sdn Bhd in Komtar.
Digital Penang was represented by its SME & Community Development director Khooi Chu Boon, YGL Convergence by its chief executive officer Yeap Kong Chean, and Exabytes Network by its executive vice-president & head of Enterprise Business Eric Foo.
Chow congratulated the three parties involved for their visionary efforts and partnerships. He expressed optimism that these agreements would translate into tangible benefits for businesses, the people, and the state.
Regarding the MoU signing between YGL Convergence and Digital Penang, Chow highlighted its role in creating a platform for micro and small enterprises within the manufacturing sector to immerse themselves in Industry 4.0.
“This concept is poised to revolutionise business operations, offering access to cutting-edge knowledge and resources that will better equip local entrepreneurs to adapt to the rapidly evolving technological landscape.
“This translates to increased efficiency, reduced operational costs, and enhanced competitiveness for these businesses, marking a significant step towards ensuring that Penang’s manufacturing sector remains relevant and resilient amidst global challenges,” Chow said in his speech.
He underscored the agreement between YGL Convergence and Exabytes Network was set to unleash a digital transformation wave across the manufacturing industry.
He said by extending Industry 4.0 solutions to micro and small-sized enterprises, their initiative will empower these businesses to harness the power of data analytics, automation, and smart manufacturing – resources that were previously out of reach for smaller companies.
Chow believes that this transformation will result in a substantial improvement in productivity and product quality, benefitting not only individual businesses but also reverberating through the entire supply chain to positively impact the overall economy of Penang.
“Both collaborations resonate harmoniously with our vision of positioning Penang as a hub for innovation and technology.
“We are advancing the readiness of our local manufacturing industries for the digital age and the green economy.
“It also sends a clear message to the world that Penang is open for business and is proactively preparing for the future. Investors and tech companies will take notice of our commitment to Industry 4.0, making Penang an even more attractive destination for investment and talent,” Chow emphasised.
Khooi, representing Digital Penang chief executive officer Ng Kwang Ming, expressed his belief that these agreements between the successful companies would undoubtedly enhance the state’s industrial competitiveness, ultimately contributing to a more robust Penang economy.
He added that through the MoU between Convergence Berhad and Digital Penang, SMEs in Penang will have the opportunity to equip themselves with the latest digital knowledge and skills, thereby improving their competitiveness.
“I would like SMEs to work with the state and Digital Penang in adopting the latest technology. We understand SMEs may operate with lean resources and time. However, I believe one has to stop and sharpen the saw, learning the updated and necessary skills to become better in what one does,” Khooi said.
Yeap, speaking on behalf of YGL Convergence, said YGL and Digital Penang would collaborate on organising programmes and workshops to engage SMEs and assist them in becoming more competitive.
He emphasised that the collaboration between YGL and Exabytes aims to make digitalisation more affordable and accessible to SMEs, facilitating their journey into the digital era.
Foo, from Exabytes, expressed excitement about partnering with YGL to empower businesses through innovative digital solutions. Established 22 years ago in Penang, Exabytes is committed to helping businesses thrive in this digital era and accelerate their digital transformation journey.
Story by K.H. Ong
Pix by Alissala Thian
Video by Siew Chia En