LANGKAWI - Some RM9.3bil (S$3.49 billion) worth of contracts and other documents were inked at this year's Langkawi International Maritime and Aerospace Exhibition, the highest on record.
This is a 121 per cent jump from the previous exhibition in 2013.
Defence Minister Datuk Seri Hishammuddin Hussein witnessed the signing of seven contracts, five memoranda of understanding (MoU), six letters of acceptance (LOA) and six letters of intent (LOI).
"The value is higher than the previous edition of LIMA in 2013 which was RM4.2bil.
"This represents a jump of around 121 per cent, indicating that LIMA, throughout the years has continued to provide the ideal platform for maritime and aerospace businesses regionally and globally," Hishammuddin told reporters after the signing ceremony at the Mahsuri International Exhibition Centre yesterday.
LIMA, he said, was no longer just about exhibiting but on how it could position the industry to promote their products as well as find partners in businesses.
"LIMA 2015 is moving towards an inclusive approach where other ministries and agencies are also fully involved," he said.
The military aspect of LIMA, he said, had been expanded to the extent that it was difficult to see incremental growth.
"But on the civil and commercial side, we have increased from 5 per cent to about 15 per cent. There is still room for civil and commercial aviation and maritime industries.
"It's something we can work on for the future," he said.
Due to limited allocation for the ministry, Hishammuddin said it was important to get all stakeholders on board to help finance some security initiatives, especially in the Sulu sea.
Among documents signed was one between Malaysia Maritime Enforcement Agency (MMEA) and Petronas for three safety outreach programmes for coastal communities, especially fishermen in Sabah and Labuan.
CTRM Aero Composites Sdn Bhd signed a LOI with UTAC Aerospace of United States for an extension on the manufacturing and supply of composite components for Boeing B787 aircraft and V2500 component for Airbus A350.
Petronas inked a MoU with the Malaysian Armed Forces for the handing over of unmanned aerial vehicles to the forces.
Thales Optronique and CTRM Aviation Sdn Bhd signed a contract for composites engineering capability and repair for the RMAF.
Destini Prima Sdn Bhd inked an agreement with the ministry for the supply of parts and services for liferafts and life jackets to the navy.