MoU between MIER and AdvanceTC Group Sdn Bhd to develop Malaysian economy

Modified 6 Oct 2020, 5:28 am

Malaysian Institute of Economic Research (MIER) has signed a memorandum of understanding (MoU) with AdvanceTC Group Sdn Bhd (AdvanceTC) to promote the development of leap-frog technologies to transform the Malaysian economy including Malaysian Vision Valley (MVV).

YBhg. Tan Sri Datuk Kamil Salleh, Chairman of MIER, signed on behalf of MIER and witnessed by Dr Baharuddin Ali, a Consultant of MIER, whereas YBhg. Dato’ Ghiti, Chairman of AdvanceTC signed on behalf of AdvanceTC Group Sdn Bhd, witnessed by Dr Masuri Othman, Executive Director of AdvanceTC. Also in attendance were Mr Lim Hooi Beng, Chairman, Mr CP Loi, CEO Mr Robert GK Lee, COO of AdvanceTC Ltd and Dr Ang Kong Hiap, Marketing Director of AdvanceTC Marketing Sdn Bhd.

The MoU between AdvanceTC Group and MIER is a strategic collaborative partnership where MIER will be its Business Development, Investment and Financial Consultant in projects such as Satellite-enabled mobile Android communication devices for data and messaging services, AI-enhanced and DMR enabled mobile satellite communication devices and next-generation VSAT and terminals for different satellite carriers.

MIER will also undertake independent and high-quality problem-oriented research on economic, financial and business issues facing the country and will provide advice on macroeconomic management, development and future economic perspectives.

This strategic collaboration between MIER and AdvanceTC Group will serve as a bridge between the government, the private sector and the universities, and become a focal point for economic, financial and business research in the country. This will also allow an undertaking of economic research projects commissioned by clients in the public and private sectors, collaborating with other research institutes, at home and abroad, on topics of relevance to the country.

MIER will also publish and disseminate the results of its research work, and organise symposia and conferences to promote the exchange of ideas and views, provide occasional training for officials from government agencies and private sector organisations and cater for the research and training needs of countries outside Malaysia as well.

MIER will also act as the Business Development, Investment, Commercial and Financial Consultant to AdvanceTC Group. MIER is committed to using all their government initiatives and resources to promote and market the projects as national projects in collaboration with AdvanceTC and in general to promote and support satellite communication devices business developed by AdvanceTC.

As part of the MoU, MIER will identify and recommend Strategic Partners for AdvanceTC, conduct feasibility studies and subsequent joint-development of the projects. Whereas, AdvanceTC will also jointly develop with MIER environment and facilities that are conducive to innovation such as Innovation Hubs with Green Technologies. It is with this collaboration that both parties would like to make these projects a success.

About AdvanceTC Group

AdvanceTC Group is an associate company of AdvanceTC Ltd, listed on NSX Australia and approved for trading of shares on OTC counter en route to a future listing on NASDAQ New York. AdvanceTC Group is a system integrator that provides IoT solutions in the area of mobile telecommunications devices in particular in relation to space and satellite technology.

About MIER

MALAYSIAN INSTITUTE OF ECONOMIC RESEARCH (MIER) is an independent, non-profit organization devoted to economic, financial and business research that serves as a think-tank for the government and the private sector, It was first mooted in the Prime Minister's Economic Panel and later promoted by the Council on Malaysian Invisible Trade (COMIT).