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KUALA LUMPUR (August 9): DreamEDGE Sdn Bhd – the cyber-security company that is leading the third national car project together with Japanese car company Daihatsu Motor Co Ltd – is largely owned by Government Malaysian Industry Government Group for High Technology (WORLD).
MIGHT is under the consent of the Prime Minister's Department.
A check by a CTOS filing showed that MIGHT's wholly owned VentureTECH Sdn Bhd holds 52.63% shares in DreamEDGE. Khairil Adri Adnan, founder and CEO of DreamEDGE, holds 43.11% while the remaining 4.26% is held by its general manager Azhan Abdul Aziz.
Launched by the government as a strategic program under the consent of the Ministry of Economic Affairs, VentureTECH is an investment company established to catalyze the growth of high-tech industries in Malaysia by investing in dynamic entrepreneurs.
“In our investment, we are not just looking for profit. We choose marketable companies with high socioeconomic impact. More importantly, we are looking for projects that are led by people who share our aspiration, which is to build iconic Malaysian companies known to the world, ”VentureTECH said on its website.
According to CTOS data, DreamEDGE was built in March 2007, had RM12.38 million in share capital and retained earnings at the end of December 2017 and has been a loss in the last two financial years.
For the financial year ended December 31, 2017 (FY17), DreamEDGE discharged its net loss to RM856,278 from RM1.64 million in FY16. Revenue increased 20.5% to RM20.66 million in FY17 from RM17.14 million in the previous year. There was no data for FY18.
Datuk Ignatius Darell Leiking, Minister of International Trade and Industry, told reporters that DreamEDGE was "completely privately funded". Daihatsu, which has about 30% stake in Perusahaan Otomobil Kedua Sdn Bhd, will not support participation in the third national car project.
During the press conference at his headquarters in Cyberjaya today, DreamEDGE's Khairil said the first model will be a C-segment sedan. The first prototype is currently expected in March 2020, followed by the launch of the first model in March 2021.
According to him, the company has more than 150 engineers who mainly specialize in the car industry. Some of its Malaysian engineers are based in Japan. The company, which has long partnered with companies in Japan, has provided technical and long-term strategic collaboration to support customers focusing on technological innovation, from ideation to prototyping to mass production.
In fact, Khairil himself graduated with a bachelor's degree in electronics science and engineering from Polytechnic University Japan before starting his career with Digital Process Ltd, Japan (DIPRO). Khairil, during his 10-year stint at DIPRO, was responsible for developing a 3D CAD environment and his portfolios included multinational companies and Japanese conglomerates, OEMs as well as car suppliers on Tier 1. He returned to Malaysia because he saw that there is vast potential in digital engineering for the country.
More than 11 years after DreamEDGE's founding, the company is currently manufacturing and prototyping in Cyberjaya, an innovative laboratory in Bukit Jalil at the Sirim R&D Institute, a project center in Taiping, as well as an R&D office in Tokyo, Japan.
Beyond car, DreamEDGE has also built experience in a variety of applications by setting up multi-vertical mechanical projects and process engineering, cutting across vertical industries including oil and gas, rail, defense, building and repairing ships, as well as digital dentistry.
The company has also developed robotic and augmented reality project capabilities that add value to smart manufacturing for the automotive industry.
It is worth mentioning that Tun Tun Dr Mahathir Mohamad was the guest of honor at the DreamEDGE Automotive Industry Seminar in 2014.
The new national car is fully designed and developed by Malaysian engineers, focusing on new upper body, internal and human-machine interface systems, as well as noise, vibration and safety (NVH) and driving and handling (R&H) enhancements. On the other hand, Daihatsu will support DreamEDGE in advanced technology, which may include platform and engine.
As a start, DreamEDGE said the new national car will take on a new approach of segmenting itself with exclusive models with state-of-the-art technologies, but ensures it will be accessible in its proposals to the public.
Also read:
Malaysia appoints DreamEDGE as anchor company for new national car project with advanced ie technical support from Daihatsu
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