Thursday, March 15, 2012

Received Official Approval from MoF for MOCVD Purchase

Alhamdulillah, after 3 months of waiting, finally, I received official approval letter yesterday evening from Ministry of Finance on our application for direct negotiation procurement of TNSC MOCVD equipment from the manufacturer itself through their Tokyo-based sole distributor. We also receive approval for direct negotiation purchase of gas distribution, gas purification, gas abatement and gas safety system through TNSC Malaysian wholly owned subsidiary.

The MOCVD has to be direct from Japan to allow for direct payment in Yen currency to the manufacturer, to prevent any occurrence of "currency exchange risk" and any third party charges. We save more than RM800,000 of Malaysian taxpayers' money by doing this kind of direct negotiation purchase.

The approval shows that the project is strongly supported by all top parties in Malaysia. At the same time, the project is also strongly supported by Japanese parties (including Japanese government) for the benefit of Japanese industrial investment in Malaysia.

Insya'Allah, we do the best for the future of Malaysia.

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