Export-Import Bank of Malaysia Bhd (EXIM Bank) entered into an agreement with Sarawak Medical Innovation Technology Hub (Smith), sealing the support towards making the state a healthcare hub in the region.
Smith is a medical hub, featuring medical device manufacturing and technology commercialisation, being categorised into several sectors including manufacturing medical devices and pharmaceuticals, innovation, education and human capital, digital transformation as well as commercial, agriculture and agro-commodities.
The first phase of Smith will be a medical glove manufacturing facility located within SEDC Petchem Industrial Park, a 36-acre land, about 10km away from Bintulu Port, in Tanjung Kidurong, Sarawak.
The glove manufacturing plant is broken down into 2 phases, in which phase 1 will comprise of 4 production lines to produce 104 million pieces per month respectively. Phase 2 will have similar capacity and production as phase 1.
EXIM Bank president and chief executive officer Arshad Ismail said the partnership between EXIM Bank and SMITH is testament to our commitment to fostering innovation and progress in healthcare.
“Together, we provide the financial support and security needed to propel the future of medical technology, ensuring that innovation knows no bounds and unemployment is addressed,” he said in a statement yesterday (Oct 24).
The partnership with EXIM Bank, a government-owned Development Financial Institution, responsible for delivering effective financing and credit takaful solutions for cross-border ventures, shows the confidence given to the Smith project.
This project is expected to create more employment opportunities for Sarawakians and to reduce the over-reliance on importing pharmaceutical equipment and medicines.
SMITH chief executive officer Robert Hardin said his partnership between a government-owned development financial institution, shows the confidence given to the SMITH project.
“With this level of support this project will bring growth not only to Tanjung Kidurong in Bintulu but also Sarawak and Malaysia as a whole with more employment opportunities coming as the project progress,” he added.
