This report demonstrates the application of a model that treats the state, society and economy in a concrete case study of small and medium enterprises (SMEs). It approaches the transformation of Malaysian SMEs by using a triangular model. The model focuses on university–industry engagement within the context of the state's educational policies and programmes that encourage the transfer of knowledge. Within this context, the report explores and pilots a new approach, which aims to transform Malaysian SMEs, especially contract manufacturers of multinational corporations. The model provides a least-cost, timely, competent and sustainable solution to the needs of all stakeholders.

Youth exposure to financial literacy information has become common in today's digital age, providing students with early financial management skills for a lifetime of well-being. However, easy access to technology and information doesn't always translate into financial literacy skills for today's students. This study aims to comprehensively understand financial literacy among undergraduates at Universiti Sains Malaysia, describing gender and ethnic group differences. It applied the theory of embeddedness to explain financial literacy variations across family backgrounds, friend networks, gender, and ethnicity. A single-stage non-probability sampling method was used. Employing purposive and quota sampling, ten informants from diverse backgrounds were interviewed. Grounded theory with open coding, axial coding, and selective coding was employed for data analysis. The findings show that undergraduate financial literacy is primarily shaped by family and social networks, where young individuals continuously develop and enhance their financial knowledge. The findings implied that educators and policymakers can customize strategies for young individuals, aligning financial literacy promotion with real-life experiences of young people which can contribute to long-term solutions for reducing youth bankruptcy.

This paper examines knowledge diffusion, talent development and technology transfer in Malaysia’s electronics and electrical (EE) industry by employing a triangular model comprising the collaboration of the state, industry and the university in Penang’s Free Trade Zone. It examines the government’s policies and initiatives under the Economic Transformation Program (ETP) to rejuvenate Malaysia’s EE sector in the context of neoliberal globalisation. It explores and understands the actual transfer of tacit knowledge at ground level through three case studies which include multinational corporations and local contract manufacturers, a research university, and a newly-established non-profit knowledge institute, designated as Collaborative Research in Engineering, Science and Technology (CREST).