SHAH ALAM, 3 March 2021 – The Space Economy that is growing and evolving has led to some analysts
declaring that the space industry could become the next trillion-dollar industry by 2040. With space industry promising untapped possibilities, global business leaders have already begun to mirror this sentiment by pouring considerable resources into the outer space arena. Closer to home, Serba Dinamik Group Berhad (SDGB), very recently made its foray into Space Technology via a new division, Space Technology Division entrusted to explore the potential of space industries and find possible partnership and collaboration in various angles in the context of New Space Economy Nexus.
Technology has enabled for changes to take place and these changes are meant to ease the lives of humankind. The global economic landscape has gone through various changes and transformations. Amongst them is a new and emerging economy that is becoming increasingly global – the space economy. Space economy is defined as the full range of activities and use of resources that create value and benefits to human beings in the course of exploring, researching, understanding, managing, and utilising space.
Marking its debut into the space economy sector, today SDGB entered into a collaboration with the Malaysian Space Agency (MYSA). Established in 2019, MYSA which focuses on technology, infrastructure and strategic space application development and tasked with gathering comprehensive satellite data and information systems to assist various public agencies effectively in terms of environment, natural resources, food security, disaster management and climate change management has lent its support to this initiative.
Under this initiative, MYSA is committed to support SDGB to further strengthen the development of space economy and industry in Malaysia.
“Malaysia as we speak have yet to participate in New Space Economy even though we are equipped to do so. To address this, the Malaysian Space Agency has taken the initiatives via the Ministry of Science Technology and Innovation (MOSTI), to introduce the Malaysian Space Board Bill 2020, which was tabled for its first reading last year,” said Dato’ Dr. Ir. Ts. Mohd Abdul Karim, the Group Chief Executive Officer & Managing Director of SDGB.
He further added that the Bill functions to advise the government on matters pertaining to the space industry. “This bodes well as we at Serba Dinamik believe that Malaysia should explore the potential into venturing into the new space economy and we fully support initiatives that will promote more Public Private Partnership amongst the industry players,” he enthused.
During the same virtual event, SDGB also signed a Memorandum of Understanding (MoU) with SWISSto12, a Switzerland based company with a focus on delivering cutting edge products for telecommunication satellite payloads. Founded in 2011, it specializes in innovative products leveraging upon patented 3D printing technologies and designs. With the MoU between SDGB and SWISSto12, it is expected that SWISSto12 will provide support to SDGB and its partners in its initiatives in space.
The ever-growing space economy brings new developments and profound transformations to the country and opens tremendous opportunities for Malaysians. Today, the deployed space infrastructure makes the development of new services possible, which in turn enables new applications, in sectors such as meteorology, energy, telecommunications, insurance, transport, maritime, aviation and urban development leading to additional economic and societal benefits. The space sector is the new catalyst for economic growth and a vital enabler for other sectors.