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Foreign firms rationalising ops

Foreign firms rationalising ops

Malaysian
Investment Development Authority (Mida) chief executive officer Datuk Azman
Mahmud said they were rationalising some products and technologies that were
becoming obsolete or non-competitive.

“They
will bring new technologies and products so that business will be as usual.
It’s normal to have upswing and downswing when it comes to currencies.

“That’s
why, we must look at other fundamentals such as good infrastructure,
connectivity and a strong supply chain,” he told a press conference after the
opening of Sin Kwang Plastic Sdn Bhd’s production facility in Senai here
yesterday. Azman was asked whether there was any investment withdrawal from
foreign companies due to the sliding ringgit.

Armed
with dynamic ecosystem and fundamentals as well as positive investment
environment, he said Malaysia still has valuable propositions to offer foreign
investors.

He cited
the opening of Sin Kwang Plastic’s new production facility as a testimony as it
reflected the company’s confidence in longterm investment in the country.

Built on
a 2.02ha site, the new production facility of Sin Kwang Plastic is dedicated
for Dyson, a British company noted for its innovative technology embedded in
vacuum cleaners, hand dryers, bladeless fans and heaters. Sin Kwang Plastic is
a wholly-owned subsidiary of SKP Resources Bhd.

Source : Star Biz & Bernama 

16 September 2015
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