Automated manufacturing solution provider, ECA Integrated Solution Berhad has obtained approval from the Ministry of International Trade and Industry to extend its Pioneer Status for another five years till 2027.
The Group, through its subsidiary ECA Advanced Solutions Sdn. Bhd., was granted the Pioneer Status back in October 2017 for a period of 10 years, whereupon the expiry of the initial five years, it would be extended for another five years subject to fulfilment of relevant conditions. The initial five years of Pioneer Status for ECA was till November 2022. The status allows for full exemption on statutory income derived from pioneer/promoted activities.
The group said overall, beyond the shift towards digitalization and automation, the prevailing geopolitical tensions are also prompting many companies to re-evaluate the strategic positioning of their manufacturing facilities. In addition, rising operating costs and shortage of skilled workers are pushing many companies to consider relocating their plants to Eastern Europe and Southeast Asia, including Malaysia.
“Looking ahead, the outlook of automated manufacturing solutions industry remains bright, underpinned by the industrial revolution of manufacturing technologies.
