SHAH ALAM: Glide Technology Sdn Bhd today received a financing facility of RM2.5 million from SME Bank under the MySMELady 2.0 Financing Programme to support the expansion of the company’s production capacity and infrastructure.
The funds, channelled under the ‘Dana Ekonomi Usahawan Wanita’ (DEWI) initiative, will be used to purchase laboratory equipment, expand production machinery, and upgrade the company’s electrical infrastructure from 400A to 1,400A.
“This investment will support large-scale production of the company’s main products, namely MPOB-Glide palm-based transformer oil and the co-branded PETRONAS Tranol Glide product range,” Glide Technology said in a statement.
The financing facility was presented by Minister of Entrepreneur and Cooperatives Development Steven Sim at a mock cheque handover ceremony held at the company’s headquarters here.
Speaking at the event, Sim said Glide Technology’s success in the high-tech manufacturing sector reflects the ministry’s commitment, through the Ministry of Entrepreneur and Cooperatives Development (KUSKOP), to empower more women-led companies in high-value industries.
He added that the company has demonstrated world-class capabilities through strategic collaborations with the Malaysian Palm Oil Board (MPOB) and Petronas in producing premium insulating oil and palm-based transformer oil for industrial use.
“Glide represents the type of company we want to support—building a strong brand, investing in technology, developing talent, and moving up the value chain. This proves that Malaysia’s business ecosystem can move beyond the ‘buy cheap, sell cheap’ trap,” he said.
Meanwhile, Glide Technology president Datuk Muhazli Muhamad said the financing would strengthen the company’s business foundation built over nearly two decades and expressed appreciation to KUSKOP and SME Bank.
“It reinforces the foundation we have built at Glide for almost two decades—Malaysian-made products, Malaysian institutional partnerships, and Malaysian industrial ambitions. We are committed to channelling every ringgit responsibly and fulfilling the trust placed in us,” he said.
Glide Group of Companies chief financial officer Datin Zarita Azlin Ibrahim said the funds would be allocated in a disciplined manner to strategic priorities, including increasing production capacity and operational efficiency.
“Our role is to ensure every ringgit is directed toward productive capacity, with financial governance and reporting standards that support our long-term growth,” she said.
Also present at the event was Tengku Syarif Laksamana Perlis Datuk Seri Syed Razlan Syed Putra Jamalullail, who is also chairman of the Glide Group of Companies.
Founded in 2007, Glide Technology is a fully Bumiputera-owned small and medium enterprise (SME) and one of Malaysia’s leading local contract lubricant manufacturers, with export operations including in Angola and strategic collaboration with Etu Energias.
The MySMELady 2.0 Programme is a Shariah-compliant financing facility by SME Bank specifically for women entrepreneurs, aimed at supporting asset acquisition and working capital needs to enhance capacity, market expansion, and business competitiveness. – BERNAMA
