Categories: 2021, industry, Investment, investors, United Kingdom

MDEC Welcomes UK’s 100th MSC Company Into Malaysia

  • The entry of Clarivate marks an important milestone in bilateral trade relations between Malaysia and the United Kingdom, marking a growing momentum in investor confidence
  • The move will see the creation of up to 200 jobs via the establishment of a Global Business Center in Penang
  • To-date, MSC Malaysia has attracted RM345 billion investments, creating close to 185,000 jobs

CYBERJAYA, 8 APRIL 2021: The Malaysia Digital Economy Corporation (MDEC) welcomed the latest MSC Malaysia-status company from the United Kingdom, Clarivate, into Malaysia, marking the 100th company from the UK to gain MSC status, and highlighting the continuing investor confidence in Malaysia.

Clarivate, a global leader in providing trusted information and insights to accelerate the pace of innovation for organisations, will base their Global Business Center, one of three in the world, in Penang. The establishment of this center will see the creation of up to 200 new job opportunities in a variety of digital tech roles.

 “We warmly welcome Clarivate into our MSC Malaysia, contributing towards making Malaysia the Heart of Digital ASEAN. It will be the 100th MSC-status company from the UK to land here. I certainly hope more will soon follow as we see the upward trajectory of the digital economy, which is estimated to contribute 22.6 percent towards GDP by 2025. MDEC will continue to drive the digital economy forward with society at the centre of 4IR technologies, driving shared prosperity for all in line with Malaysia 5.0,” said Surina Shukri, CEO MDEC.

MDEC will continue to forge ahead with its mandate to attract more investments into the country via further collaborations with the UK Department for International Trade via the British High Commission Kuala Lumpur, as well as with their partner organisation the British-Malaysian Chamber of Commerce.

“Since we signed an MoU with MDEC in 2016, we have achieved more than 20 collaborations in Malaysia involving UK companies, generating investments worth RM 14.2 billion (£ 2.54 billion) and revenue of RM15.99 billion (£2.86 billion) over the last 5 years (2015-2019). We will continue to build on this momentum and strengthen our digital trade partnership with Malaysia,” said His Excellency Charles Hay, the British High Commissioner to Malaysia.

H.E. Hay added, “It is very encouraging to see Clarivate Plc establishing a new cutting-edge global business centre in Penang, creating jobs in Malaysia. Ventures like this are a great example of Britain going global.”

To-date, MSC Malaysia has attracted a cumulative RM345 billion investments, creating close to 185,000 jobs. This mostly came from multi-nationals that have opened their global business services and regional operations here in Malaysia. Malaysia is also ranked second in ASEAN and 26th globally in the recent IMD World Digital Competitiveness Ranking 2020.

“Clarivate’s investment represents a clear endorsement of investor confidence in Malaysia and a testament to the high level of digital skills and capabilities of our country’s workforce. This commitment bodes well in our quest to achieve the aim of the recently-announced Malaysia Digital Economy Blueprint (MyDIGITAL) of creating 500,000 jobs by 2025 within the digital economy,” said Raymiond Siva, Senior Vice President, Investment and Brand and CMO, MDEC.

Malaysia’s diversified multi-lingual and digitally-skilled talent pool; ready infrastructure and thriving digital economy ecosystem has led it to be recognised as a first-mover for the high-value digital business services in the region.

“Clarivate is delighted to set up its Global Business Centre (GBC) in Malaysia as we see great support in terms of infrastructure, talent and diversity. Malaysia is an attractive investment hub and growing our presence in the region will help us accelerate our vision to improve the way the world creates, protects and commercializes innovation. We offer solutions from our GBC that drives the entire life cycle of innovation in the areas of science and intellectual property,” said Shankar Nagalingam, VP & Site Leader for the Clarivate GBC in Penang.

“We are planning to expand our footprint in Malaysia and will be hiring another 150 to 200 employees over the next 12 months. The Penang GBC is thriving as a regional centre of expertise and I look forward to welcoming these new talents. Our vision for 2021 and beyond includes building a digitalized community and globalizing operations with a key focus on customer delight. Our mission is to help customer solve some of the world’s most complex problems by providing actionable information and insights that reduce the time from new ideas to life changing inventions. We are proud to support Clarivate to make that mission a reality from the GBC in Malaysia,” said Shankar.

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About Malaysia Digital Economy Corporation (MDEC)
Malaysia Digital Economy Corporation (MDEC) is a government agency under the purview of the Ministry of Communications and Multimedia Malaysia entrusted to lead Malaysia’s digital economy forward.

Incorporated in 1996 to oversee the development of the MSC Malaysia initiative, MDEC’s primary mandate today is to accelerate the growth of digitally-skilled Malaysians, digitally-powered businesses and digital investments in Malaysia. MDEC is focused on creating inclusive, high-quality growth through the nationwide digitalisation initiatives that are in line with the Government’s Shared Prosperity Vision 2030 in line with Malaysia 5.0 and firmly establishing Malaysia as the Heart of Digital ASEAN.

#LetsBuildTogether #DigitalMalaysiaForward

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