Unemployment Rate Increases by the End 2020, Swift Digitalization Reforms Required to Survive – Says MDEC, SHRDC & PLUS SOLAR

The Ministry of Finance estimates almost two million jobs are at risks by the end of 2020. These dismal numbers exposed Malaysian economy has been severely affected by the aftermath of the movement control order (MCO) to lessen the transmission of COVID-19 to the citizens of Malaysia.

In mid-May, the Department of Statistic Malaysia (DOSM) reported that 53.4% of businesses only able to survive for one to two more months if they opt to pay salaries from half to full to their staffs. In order to address this issue, the recent National Economic Recovery Plan or PENJANA, offers a new hope through its various allocations, costs RM35 billion in initiatives in order to get back the economy of Malaysia, back to its track.

In a recently conducted webinar entitled, “Can Digitalization Save Your Business?“, participated by the leaders from Malaysia Digital Economy Corportation (MDEC), Selangor Human Resource Development Centre (SHRDC) and leading clean energy solutions provider, Plus Solar. The host of the webinar further revealed on how businesses can effectively overcome this situation by access to the various funds and resources available in order to assist them to digitalize their businesses and upskill talents.

Quoting Mr. Muhundhan Kamarapullai, Director, Business Digital Adoption at MDEC further, “Digitalisation is the key for businesses to continue sustaining in this new norm. Our government through MDEC has introduced several initiatives on E-commerce, Gig Economy, Talent Development and SME Growth focuses on empowering people and businesses with Digital Transformation”.

Unemployment Rate Increases by the End 2020, Swift Digitalization  Reforms Required to Survive - Says MDEC, SHRDC & PLUS SOLAR
Figure 1: Image credit to @Scott Graham.

He added further, “MDEC is constantly promoting SME digitalisation efforts since the announcement movement control order (MCO). We have initiatives like 100 Go Digital where we educate the ecosystem on the latest digitalization information as we continue to digitally empower the businesses. Recently, we announced the #SMART Automation Grant for Services Industry as part of the Government’s Penjana initiative to support the small and medium enterprises (SMEs) to take the digital leap in this new norm. This is necessary as many SMEs are looking at digital platforms to overcome their challenges that might negatively impact their operations and income generation.

In addition, another speaker at the webinar, Dr. Chua Wen-Shyan, Head of Technology, Selangor Human Resource Development Centre (SHRDC) said, “People or talent are the greatest assets in your company. Motivate them, upskill them with the necessary skills to promote innovation and development within your company to achieve a sustainable digital transformation.” “What we do at SHRDC is to design high impact programs relevant to the different industries. Each company may require a unique digitalization roadmap as there is no one size fit all.

Chief Technology Officer and Co-Founder of Plus Solar, Ryan Oh, took an advantage of sharing their experiences by quoting, “With the push for digitalization, it is only apt that we have developed smart energy solutions to help businesses save on the bottom line as well as to turn business insights into valuable intelligence that can translate into better business decisions. Industries that can benefit from such a smart energy management system are commercial and industrial buildings. As an industry practice, heating, ventilation and air conditioning (HVAC) consume over 40% of the global energy use. By leveraging on smart energy management, leakages can be identified, energy efficiency improved and energy savings maximized. “An example is Mark Maju Corporation which operates a Shell petrol station, reporting 25% energy savings since using our energy management system. Whilst solar and energy savings is where we started, our goal is to be a leader and pioneer with the imminent trend – digital transformation in the energy sector. We aspire to revolutionize the energy industry and focus much of our efforts towards making this a reality here in Malaysia.

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