Glide Technology Sdn Bhd receives RM2.5 million from SME Bank under the MySMELady 2.0 programme to expand production and upgrade infrastructure, showcasing support for high-value, women-led businesses in Malaysia.
PETALING JAYA: A significant boost has been given to a Malaysian advanced manufacturing firm through a dedicated women-focused financing initiative, demonstrating a strong commitment to fostering the growth of high-value businesses led by women.
Glide Technology Sdn Bhd has successfully secured RM2.5 million in financing from SME Bank, facilitated through the MySMELady 2.0 programme. The official presentation of the financing was conducted by Entrepreneur Development and Cooperatives Minister Steven Sim Chee Keong during a ceremony held in Shah Alam on May 4th. This financial support, originating from the Dana Ekonomi Usahawan Wanita (Dewi) initiative, is strategically allocated to enhance Glide Technology’s operational capabilities.
Specifically, the funds will be utilized for the acquisition of cutting-edge laboratory equipment, the expansion of existing production machinery, and a crucial upgrade to the company’s electrical infrastructure, increasing its capacity from 400A to 1400A. These improvements are directly aimed at enabling the scaled-up production of Glide Technology’s specialized MPOB-Glide palm-based transformer oils, alongside its popular co-branded Petronas Tranol Glide product line. Minister Sim emphasized that Glide Technology’s trajectory in the advanced manufacturing sector perfectly embodies the type of business the ministry actively seeks to cultivate through the Dewi initiative.
He stated that Glide Technology serves as a model for sustainable growth, characterized by the development of robust brands, strategic investments in technology, a commitment to talent development, and a consistent move towards higher value-added activities. This success story, according to Sim, illustrates the potential for Malaysia’s business ecosystem to transcend the limitations of a purely cost-based competitive strategy. He believes that by supporting companies like Glide Technology, Malaysia can establish itself as a hub for innovation and high-quality manufacturing.
The minister’s comments highlight a broader governmental strategy to shift the focus from competing on price to competing on value, quality, and technological advancement. This approach is seen as crucial for long-term economic sustainability and competitiveness in the global market. The Dewi initiative, and programs like MySMELady 2.0, are key instruments in achieving this strategic shift, providing targeted support to businesses that demonstrate the potential to drive innovation and create high-skilled jobs.
Datuk Muhazli Muhamad, President of Glide Technology, expressed his gratitude for the financing, stating that it would significantly strengthen the company’s long-term strategic plans. He underscored the importance of the funding in solidifying the foundation Glide Technology has been building for nearly two decades – a foundation rooted in Malaysian-made products, strong partnerships with Malaysian institutions, and a clear vision for Malaysian industrial ambition.
Muhazli affirmed the company’s unwavering commitment to responsible financial management and delivering on the trust placed in them by SME Bank and the government. Datin Zarita Azlin Ibrahim, Chief Financial Officer of Glide Technology, further elaborated on the allocation of funds, emphasizing that they would be directed towards clearly defined priorities. These include the aforementioned laboratory equipment, production machinery, and power infrastructure upgrades.
She highlighted the company’s dedication to maintaining rigorous financial governance and reporting standards, ensuring transparency and accountability in the utilization of the funds to support sustained growth. Founded in 2007, Glide Technology is a fully Bumiputera-owned Small and Medium Enterprise (SME) specializing in the manufacturing of high-performance lubricants. The company has already established a presence in international markets, with export operations in Angola, and maintains collaborative relationships with industry leaders such as Petronas and the Malaysian Palm Oil Board.
MySMELady 2.0, as a Shariah-compliant financing facility offered by SME Bank, is specifically designed to empower women entrepreneurs by providing them with the financial resources needed to expand their production capacity, broaden their market reach, and enhance their overall competitiveness. The program aims to address the unique challenges faced by women-led businesses and promote their contribution to the Malaysian economy
SME Bank Mysmelady 2.0 Glide Technology Women Entrepreneurs Manufacturing
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