LBS Bina continues to actively promote China investments to Malaysia - MIDA | Malaysian Investment Development Authority
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LBS Bina continues to actively promote China investments to Malaysia

LBS Bina continues to actively promote China investments to Malaysia

26 May 2023

Property developer LBS Bina Group Bhd actively continues to promote the attractiveness and viability of investing in Malaysia to China.

In May this year, LBS organised two sharing sessions for prominent leaders from the Fujian Government in China, who were on a reciprocal visit to Malaysia following Malaysia’s prime minister Datuk Seri Anwar Ibrahim’s official visit to China in April.

One of the sharing sessions was graced by Yang Di-Pertuan Agong Al-Sultan Abdullah Ri’ayatuddin Al-Mustafa Billah Shah Ibni Almarhum Sultan Haji Ahmad Shah Al-Musta’in Billah.

During the sharing session, the Agong highlighted Malaysia’s peaceful nature and political stability and invited Chinese investors to explore potential investment in Malaysia, given the good relationship between the countries.

The Fujian government expressed particular interest from Chinese investors in investing in Malaysia.

In a separate session held on the same day, LBS brought together another meeting for the delegation of the Fujian government with the presence of the Malacca chief minister Datuk Seri Ab Rauf  Yusoh in Kuala Lumpur.

Ab Rauf highlighted the prospective collaborations to be explored, focusing on the vast potential within the Melaka Waterfront Economic Zone (M-WEZ).

Through its subsidiary, Leaptec Engineering Sdn Bhd, LBS already had an agreement with the Malacca state government to develop 1,200 acres of land within M-WEZ.

Ab Rauf further expressed his preparedness to promote Malacca to key Chinese leaders to boost the economy.

For both sessions, LBS executive chairman Tan Sri Ir Lim Hock San and the group managing director and chief executive officer Datuk Wira Joey Lim Hock Guan were present.

The attendees representing China included Zhou Zuyi, who is the Secretary of the CPC Fujian Provincial Committee and Chairman of the Standing Committee of the Fujian Provincial People’s Congress, and Zhou Kuanfen, the deputy secretary-general of the CPC Fujian Provincial Committee and Director-General of the General Office of the CPC Fujian Provincial Committee.

“We are grateful to be involved in the sharing sessions between key leaders of the Fujian Government and Malaysia. In particular, we wish to extend our gratitude to the Yang Di-Pertuan Agong in gracing our high-tea session on May 14 2023,” Lim said.

“With this meeting, we hope it will further strengthen the bilateral relationship between Malaysia and China,” he said.

Lim also noted that during Anwar Ibrahim’s trip to China in April, it was announced that Malaysian companies had entered into 19 memorandum of understanding (MoUs) with Chinese entities, representing an investment commitment of RM170 billion from China into Malaysia.

Thus, LBS is positive that China will play a significant role in the development and progression of our nation moving forward, he said.

“We hope to see an increasing number of joint ventures and collaborations between Malaysia and China in the coming months,” Lim noted.

Source: NST