1982 and has conducted state of the art studies In various Indus­ tries. At present, after studying models of technology transfer mechanisms from various neighbouring countries, the technology transfer policy Is at the stage of being finalised. Technology Transfer: In the national social and economic pol Icy level, there Is a shift In the overal Industrialisation policy of the government. Due to the recession and the effect of low commodity prices, a "Look East Po I Icy" was Introduced wh lch Is spec If lea II y meant for learning from the experiences and work ethics especially of Japan and Korea. Detat led studies were made of the progress made by them In science and technology, and research Institutions In the country are presently studying their concepts and methods In the management of science and technology. There was also a real tsatton by the government that Malaysia should venture Into capital Intensive. -high technology based Industries, with emphasis on resource based Industries to act as a cushion against fluctuating commodity prices. It was also real lsed that only the government could provide the Initiative and tnltlat Impetus for such capital Intensive projects and this led-to the-formation of the government-owned Heavy_ Industry Corporatlo~ of Malaysia (HICOM). This company was established by the Malaysian Government to act as a catalyst to stimulate heavy capital-based. Industries In the country and as a channel for the Inflow of high technoloyg Into the country. The Initial priority Industries Identified are cement, pulp and paper, sponge Iron and motor car. l"t Is env-Isaged that these Industries will have a cost push effect on the creation of small and medium scale Indus­tries that will provide ancll llary services and products to the o major Industries. The spfn off effect will be the establishment ~ of a group of small and medium scale Industries producing high 
**Analysis**
The text discusses the technology transfer policy of Malaysia, specifically highlighting the shift in the country's industrialization policy towards high-tech industries and the establishment of government-owned Heavy Industry Corporation of Malaysia (HICOM) to stimulate capital-intensive projects. The text also mentions the identification of priority industries, including cement, pulp and paper, sponge iron, and motor car. This suggests that the text is focused on the development of industries and the economy.

**Category**
Industry, Economic development