FRIM Enhances Efforts To Commercialise Forest Resource-based Research Innovations
FRIM said the initiative represents a strategic effort by the institute to support Malaysia's aspiration of becoming a high-tech nation by the year 2030.
'In line with the Forestry Research Institute Malaysia Act 2016 and the National Research, Development, Innovation, Commercialisation and Economic (RDICE) Roadmap, FRIM plays a key role within the national innovation ecosystem by fostering collaboration between the research sector, industry, and government.
'This effort is guided by the National Science, Technology and Innovation Policy (NSTIP) 2021-2030, which aims to achieve research and innovation investments totaling RM85.7 billion,' FRIM said in a statement.
It added that it plays a crucial role in bridging the gap between research laboratories and the market by actively participating in national initiatives such as Malaysia Commercialisation Year and working closely with the Ministry of Science, Technology and Innovation (MOSTI).
According to FRIM, several approaches have been implemented to drive innovation, including the provision of technology packages, product certification, technical advisory services, and incubation activities through its Innovation and Commercialisation Division.
'FRIM's intellectual property is managed through the Technology Information Management System (TIMS), ensuring that innovation outputs are well-protected and ready for commercialisation. These efforts are further supported by its wholly owned subsidiary, FRIM Incorporated Sdn Bhd, which plays a pivotal role in facilitating technology licensing and translating research outcomes to meet market demands,' it said.
'Among FRIM's key achievements is the successful commercialisation of clones and extracts from local herbs such as Kacip Fatimah (Labisia pumila) and Cucur Atap (Baeckea frutescens) which are now incorporated into natural wellness products with strong potential to enter international markets.
The institute also provides consultancy and technology transfer services to both government agencies and the private sector. These services encompass a wide range of areas, including biomass product development, plantation silviculture, eco-friendly product certification, and biodiversity mapping.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Barnama
6 hours ago
- Barnama
LHDN Refunds RM9.35 Bln In Excess Taxes To 3 Mln Taxpayers
BUSINESS KUALA LUMPUR, Aug 20 (Bernama) -- The Inland Revenue Board (LHDN) has issued tax refunds totalling RM9.35 billion to more than three million taxpayers as of June 30, 2025, according to the Ministry of Finance (MOF). In a written parliamentary reply on Tuesday, the ministry stated that out of the total taxpayers involved, 1.07 million have received their full refunds, amounting to RM2.73 billion. The reply was in response to a query from Chong Chieng Jen (PH–Stampin) regarding the total outstanding tax refund amount, reasons for delays, and the timeline for disbursement. The MOF added that corporate tax refunds, which typically involve larger amounts, are prioritised based on the length of delay, with older cases being handled first. 'This is to ensure that all eligible taxpayers receive at least a partial refund within the year, while the remainder will be disbursed either in the same year or the following year, depending on the government's financial position,' said the ministry. Meanwhile, the MOF said the sales tax on low-value goods (LVG) has been implemented since Jan 1, 2024, and is not part of the current sales tax review. The LVG tax applies to all goods imported from abroad valued at less than RM500 and sold online or through online marketplaces by registered sellers. 'The LVG tax does not apply to goods that are locally manufactured,' the ministry clarified in response to a question from Tan Sri Muhyiddin Yassin (PN–Pagoh) regarding the government's strategy to address the impact of the expanded SST on cost of living and operational burden for micro, small, and medium enterprises (MSMEs). The MOF emphasised that the LVG tax only applies to imported goods sold online under registered platforms, and locally produced goods are not affected.
Barnama
7 hours ago
- Barnama
Tengku Zafrul Reiterates Difference Between MIDA-Approved Investments And Net FDI Reported By DoSM
BUSINESS KUALA LUMPUR, Aug 19 (Bernama) -- The Minister of Investment, Trade and Industry (MITI) Tengku Datuk Seri Zafrul Abdul Aziz reiterated that the investment figures approved by the Malaysian Investment Development Authority (MIDA) refer specifically to the compilation of proposed investments that have been approved. He explained that this only covers the manufacturing and services sectors that fall under MIDA's jurisdiction. These direct investments include both domestic and foreign investments. 'The investment calculation refers to the total project costs such as land, factories, and machinery,' he clarified in a post on Instagram today, where he reuploaded an earlier explanation he made on the matter last year. Tengku Zafrul noted that this is different from the net foreign direct investment (net FDI) figures published by the Department of Statistics Malaysia (DoSM), which only calculate actual inflows and outflows of foreign investments. 'They (DoSM) don't count domestic investments,' he said. In the video, Tengku Zafrul said that DoSM's method for calculating foreign investment is based on financial transactions, including equity investments such as shares, debt, dividends, and reinvested earnings. 'For example, if a foreign company buys shares and takes over a local company, MIDA does not count that as FDI because no new project is involved. 'But for DoSM, that is counted as FDI. So, what MIDA calls approved investments and what DoSM calls net FDI are two different measurements and cannot be directly compared,' he said. Tengku Zafrul also said that the status of approved investments announced by MIDA is followed up periodically with reports on how much of that investment has been implemented or completed.
Barnama
7 hours ago
- Barnama
SeGAC Highlights Govt's Push For Digital Transformation In Public Sector Finance
GENERAL KEPALA BATAS, Aug 19 (Bernama) -- The Standard Accounting System for Government Agencies Conference (SeGAC) has reinforced the government's commitment to accelerating digital transformation in public sector finance and accounting through the adoption of integrated, secure and efficient digital systems. Held over two days starting yesterday, the conference brought together nearly 500 participants from various sectors. It served as a platform to showcase the latest developments in financial technology and facilitate strategic knowledge sharing between government agencies and the Accountant General's Department of Malaysia (JANM). In a statement tonight, JANM said the event, jointly organised with the Public Sector Accountants Association Malaysia (PSA), featured eight presentation sessions across a range of topics, including economic outlook, digital transformation, sustainability, leadership, motivation, auditing, finance and organisational development. A total of 13 expert speakers were involved. The conference also spotlighted the role of the Standard Accounting System for Government Agencies (SAGA), a suite of financial and accounting applications, both custom-built and commercial off-the-shelf (COTS), along with supporting systems that integrate financial data, that must comply with the design standards outlined in the Accountant General's Circular (SPANM). 'SAGA enables government agencies to prepare financial statements more promptly, accurately and with greater integrity. It also ensures adherence to recognised accounting standards and enhances overall financial governance,' the statement said. JANM added that SAGA is designed to ensure data security and system reliability based on the principles of confidentiality, integrity and availability, guaranteeing that financial data remains protected, accurate and accessible at all times. Meanwhile, Accountant General Datuk Nor Yati Ahmad said the conference theme, 'Digital Evolution: The Core of New Era Sustainability', reflects the country's ambition to embrace technological transformation in line with the Malaysia MADANI policy framework, with sustainability as one of its core values. 'The theme underscores the importance of digital innovation in public sector finance and accounting, particularly through technologies such as artificial intelligence (AI) and data analytics, to support efficient, transparent and sustainable financial governance,' she said when officiating the event. Government agencies will be issued a SAGA Compliance Certificate once their financial and accounting systems are certified to meet the required compliance criteria approved by JANM.
