Dr Sim: Electrical and electronics industry must adapt to digital age with data-driven approach

KUCHING (March 28): The electrical and electronics industry must continue to evolve and embrace data-driven strategies to stay competitive in a rapidly changing global market, said Deputy Premier Datuk Amar Dr Sim Kui Hian.

Officiating the 25th Anniversary Dinner of the Federation of Malaysian Electrical Appliances Dealers’ Association (Fomeda) and the Sarawak Electrical & Electronics Sales & Services Association (SEESSA) 27th Anniversary here, he said the industry has undergone a significant transformation over the past two decades.

“Twenty-five years ago, there was no e-commerce.

“Today, much of the business is conducted online; the industry is no longer the same,” he said, adding that players must adapt to remain relevant.

In line with this shift, Fomeda marked a step towards becoming a more data-driven industry by signing memorandums of understanding (MoUs) with All Value Insight Data (Malaysia) Sdn Bhd, Ipsos Sdn Bhd, and NielsenIQ (Malaysia) Sdn Bhd during the dinner here on Friday night.

The association also unveiled two key initiatives — the Fomeda Standard and the National Advisory Council (G7/G10) — aimed at strengthening industry structure and long-term development.

Dr Sim welcomed these efforts, noting that such initiatives are crucial in providing direction and leadership for the industry moving forward.

Meanwhile, Fomeda president Tan Man Lee said the association’s 25-year journey reflects the strength of unity among industry players nationwide.

“From the early days when players from East and West Malaysia came together, to today where we unite strength nationwide, every step we have taken is rooted in unity,” he said.

He added that the Fomeda Standard would establish industry benchmarks to enhance professionalism and restore market order, while the advisory council would bring together experienced and visionary leaders to guide strategy and future growth.

“These initiatives will lay the foundation not just for today, but for the next decade and beyond,” he said.

Tan also noted that Kuching was chosen as the venue for the milestone celebration as it symbolises stability, direction and future growth.

Also present at the event were Fomeda’s honorary president cum advisor Wong Lean Fatt Amp, organising chairman Jong Tze Thin as well as members of the Kedah & Perlis Electrical Home Appliances Dealers’ Association, Radio Traders Association of Penang & Province Wellesley, Perak Electrical & Radio Dealers’ Association, Kelantan Electrical Dealers’ Association, the Selangor and Wilayah Persekutuan Electrical Home Appliances Dealers’ Association, Klang Bicycle & Electric Association, Melaka Electrical Appliances Dealers’ Association, Johor Electrical Appliances Dealers’ Association and Sarawak Electrical and Electronic Goods Sales and Services Association.