KUALA LUMPUR, Nov 14 (Bernama) -- Glide Technology Sdn Bhd expects to rake in RM30 million in sales for the next five years during the commercialisation of the Malaysian Palm Oil Board (MPOB)-Glide palm oil ester-based transformer oil.
Glide Technology president/founder Datuk Muhazli Muhamad said the sales would derive from the Malaysian market as well as exports in the regional countries.
He added that the collaboration with MPOB leveraged the country’s palm oil resources to deliver products aligned with global environmental, social and governance (ESG) standards.
“Our strategic position enables us to drive this ESG-compliant innovation, significantly contributing to both domestic and international energy transitions,” he told reporters after the signing of a commercialisation agreement between MPOB and Glide Technology for the palm-based transformer oil.
He said the company was focusing on addressing demand in the renewable and power sectors, combined with its collaboration with MPOB, strengthening its role as a bumiputera manufacturer.
Glide Technology will make an initial investment of RM9.0 million to set up a cutting edge production facility in Shah Alam, where production is slated to begin in the third quarter of 2025.
“We already have a plant in Shah Alam and we will set up a new one to produce MPOB-Glide palm oil ester-based transformer oil. The RM9 million investment is our commitment,” said Muhazli.
-- BERNAMA
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