The Economic Transformation Programme is an initiative by the Malaysian government to turn Malaysia into a high income economy by the year of 2020.
The Performance Management and Delivery Unit (Pemandu) has conducted laboratories to study on how to implement Malaysia's goal of becoming a high-income country by 2020.
211 companies have taken part, including Shell, Exxon-Mobil, MYDIN, Sime Darby, Genting Plantations, Petronas, PricewaterhouseCoopers, Celcom, Ericsson, Maybank, Tesco, Sunway Medical Centre, Masterskill University College, The Body Shop, AirAsia, Malaysia Airlines, RapidKL and Digi Telecommunications.
A workshop had been organised by Performance and Delivery Unit (PEMANDU) to identify the 12 National Key Economic Areas (NKEA).
The NKEA is the key driver to the success of this program as such activities have the potential to contribute significantly to the growth of the economy of Malaysia.
There are 131 entry point projects (EPP)[2] identified under the NKEA, which includes a high speed railway connecting Penang to Singapore and MRT in Kuala Lumpur which YTL Corporation first proposed and are currently looking to undertake.
Among the companies that are involved in the transformation programme are YTL Corporation, Shell Malaysia, AirAsia, Hovid Inc, Select-TV, Exxon-Mobil, Dialog Group, Tenaga Nasional, Cisco.
The employment of optimising techniques and technologies that are cost-efficient to safeguard profitability is crucial in the oil and gas sector, in particular with regard to the risk service contract (RSC) applied to enhance production of marginal fields.
"[5] On 26 July 2011, at the Production Optimisation Week Asia in Kuala Lumpur, it was discussed that the RSC is essentially a contract that significantly increases an operator’s risks of exposure.
With limited land available to continue the expansion of plantations, the government desires to increase efficiency in production and focus on providing great value through downstream activities.
These EPPs will focus on replanting of ageing oil palms, mechanising plantations, stringently enforcing best practices to enhance yields, implementing strict quality control to enhance oil extraction, and developing biogas facilities at palm mills to capture the methane released during milling.