Glide Technology secures RM2.5 million MySMELady 2.0 financing for expansion
The financing, under the Women Entrepreneurs Economic Fund (Dewi) initiative, will be used to acquire laboratory equipment, expand production machinery and upgrade the company’s electrical infrastructure.
NATASYA AZHARI
SHAH ALAM – Glide Technology Sdn Berhad has received a RM2.5 million financing facility from Small Medium Enterprise Development Bank Malaysia Berhad under the MySMELady 2.0 programme, during a mock cheque handover ceremony officiated by the Entrepreneur Development and Cooperatives Minister, Steven Sim Chee Keong.
The financing, under the Women Entrepreneurs Economic Fund (Dewi) initiative, will be used to acquire laboratory equipment, expand production machinery and upgrade the company’s electrical infrastructure – more than tripling its power capacity to accommodate higher production demands.
It will also support the scaling of Glide’s palm-based transformer oils developed in collaboration with the Malaysian Palm Oil Board, as well as the Petronas Tranol Glide product range.
Sim said Glide Technology represents the type of enterprise Malaysia aims to develop under women-led economic empowerment initiatives.
“Glide represents the kind of model we want to support – one that builds strong brands, invests in technology, develops talent and moves up the value chain.
“This shows Malaysia’s business ecosystem can move beyond the ‘buy cheap, sell cheap’ trap,” he said in a statement on Monday.
Glide Technology president Datuk Muhazli Muhamad said the financing strengthens the company’s long-term industrial development.
"It strengthens the foundation we have been building at Glide for nearly two decades – Malaysian-made products, Malaysian institutional partnerships and Malaysian industrial ambition.
“We are committed to deploying every ringgit responsibly and delivering on the trust placed in us,” he said.
Meanwhile, Glide Group chief financial officer Datin Zarita Azlin Ibrahim said the funding will be channelled into key production and infrastructure upgrades.
“Our role is to ensure every ringgit is channelled into productive capacity, with the financial governance and reporting standards that support our long-term growth,” she said.
Glide Technology is a 100 per cent Bumiputera-owned SME founded in 2007 and is one of Malaysia’s independent lubricant contract manufacturers.
It has export operations in Angola, holds exclusive global commercialisation rights from MPOB for palm-based transformer oils, and is the appointed Business Continuity Plan partner of Petronas Lubricants International.
MySMELady 2.0 is SME Bank’s Shariah-compliant financing facility designed to support women entrepreneurs in expanding production capacity and business competitiveness.
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