KUALA LUMPUR (Sept 27): Local company Projek Garuda Sdn Bhd has inked a memorandum of understanding (MoU) with Korean road safety products manufacturer, Shindo Industry Co Ltd, to develop and manufacture similar products in Malaysia.

Projek Garuda is a company which currently imports and exports a variety of goods without any specialisation.

The MoU was signed today at the Korean Trade Centre Gyeonggi Fair.

This exclusive partnership agreement is for the future development and manufacturing of road safety products in Malaysia and will be expanding their business to the rest of Asia.

Speaking at a press conference today, Gyeonggi Business Centre Kuala Lumpur (GBC KL) regional director Patrick On also pointed out that this partnership will be the gateway to the rest of Asia.

Projek Garuda had gone on an annual trip to Korea with Gyeonggi Business Centre Kuala Lumpur and decided to venture into the in road safety products, such as roller barriers, coloured powder coated guard rails, anti-glare systems and solar powered highway indicators.

“These products will definitely serve to reduce the number of accidents in Malaysia and reduce the economic loss in Malaysia and at the same time, increase the social benefits to the road users,” said Minister of Works Datuk Sri Haji Fadilah bin Haji Yusof.

Haji Fadilah added that he wished to see Projek Garuda, together with Shindo Industry, expand their business along with these products to other neighbouring countries, such as Thailand, Indonesia, Singapore, Vietnam and Cambodia.

Currently, small and medium enterprises (SMEs) in Malaysia contribute to about 36% to Malaysia’s GDP and are expected to rise up to 41% by 2020.