ZYFRA eyes Malaysian market

KUALA LUMPUR, Finnish-Russian technology company, ZYFRA, is keen to enter the Malaysian market by collaborating with local partners.

Chief executive officer Igor Bogachev told Bernama Malaysia and Russia had enormous potential in deepening cooperation in the machinery, as well as high-tech sectors, such as the implementation of joint projects in the field of artificial intelligence (AI) and the industrial Internet of Things (IIoT).

Innovation should drive Russia-Malaysia relations. We see significant potential for the introduction of AI and IIOT in industries such as machinery, metals, mining, oil and gas, he said.

Bogachev also chairs the Russian Union of Industrialists and Entrepreneurs Subcommittee on the Digital Economy and Innovations.

He said currently ZYFRA was looking for a reliable partner in Malaysia to promote MDCplus, the IIoT-based machine monitoring and manufacturing data collection system.

It helps connect a wide range of computer numerical control (CNC) machines into a single network to efficiently use the data and optimise the technological processes which can further improve machine performance by eight to 12 per cent, he added.

Meanwhile, ZYFRA International Business Development Director Andrey Lovygin said, another reason why Malaysia was chosen as a base to expand its overseas portfolio is due to the country’s conducive business environment as well as demand for AI and IIoT.

We have assessed the market and Malaysia’s industrial potential is very high. The country has also wide interest in innovative products that can assist local enterprises become more efficient, he said.

As for the company’s total investment in Malaysia, Lovygin said the amount would be finalised in the second half of this year.

He said Malaysia had proved attractive in ZYFRA’s overseas expansion plan, as it is known for industrial manufacturing and in line with Industrial Revolution 4.0, the demand for smart manufacturing was on the rise.

Lovygin said the key focus would be on enterprises with a specific type of production such as automotives and medicine.

In addition, the Malaysian government is willing to make the country a strategic partner for smart manufacturing and related services in the Asia Pacific, a key destination for high-tech industry investments and a comprehensive solution provider for advanced technology, he added.

Source: BERNAMA (News Agency)