South Korea-based OCI holdings opens regional HQ in Malaysia - MIDA | Malaysian Investment Development Authority
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South Korea-based OCI holdings opens regional HQ in Malaysia

South Korea-based OCI holdings opens regional HQ in Malaysia

21 Apr 2024

South Korea-based energy and chemical company OCI Holdings has announced the official opening of its regional headquarters here, marking a significant milestone in its commitment to expand its presence in the region.

OCI Holdings chairman Lee Woo Hyun said the new OCI M Sdn Bhd office is located in a thriving economic hub in Southeast Asia and will serve as a pivotal centre for the company’s operations, facilitating closer collaborations with stakeholders, partners, and clients across the region.

“We are thrilled to inaugurate our OCI M regional headquarters office in Kuala Lumpur, a vibrant city known for its dynamic business environment and strategic location. This milestone underscores our commitment to deepening our roots in the region and strengthening our partnerships with stakeholders and clients,” he said in his speech during the opening ceremony here today.

The event was officiated by Minister of Investment, Trade and Industry Tengku Datuk Seri Zafrul Abdul Aziz.

In his speech, Tengku Zafrul called on OCI M to support local demand in the near future as Malaysia is moving aggressively in the front-end semiconductor value chain and green sectors such as electric vehicle development and renewable energy, among others.

There are also many South Korean companies that are working with the country on carbon capture, utilisation and storage (CCUS) which obviously require cutting edge technology products and services, he said.

“I think you (OCI) have a strong manufacturing base in Malaysia now, becoming a global exporter of chemical products. And I am very happy that you have made the decision to have your regional office or headquarters in Kuala Lumpur, which is really a major step ahead,” he said.

He noted that this headquarters will consolidate the functions of OCI in Japan, China, the Philippines and Malaysia in terms of the setting of financial budgets, development of business plans and establishment of a new growth investment initiative.

In addition, he said, the office will manage and support the network of OCI group of subsidiaries across mutiple countries, and be involved in investment ventures into chemicals and solutions not only in Southeast Asia but globally.

Tengku Zafrul said OCI’s move reaffirms the nation’s attractiveness as a preferred destination for foreign investment and underscores the confidence that global companies have in the economy, infrastructure, and skilled workforce.

“It demonstrates our country’s ability to provide a conducive environment for companies to thrive, innovate, and expand their operations,” he said.

Tengku Zafrul said the opening of the regional headquarters office reaffirms OCI’s long-term vision and commitment to driving sustainable growth and prosperity in the region.

By leveraging the diverse talent pool and business opportunities in Malaysia, OCI M aims to further enhance its position as a leading player in the energy and chemical sectors, he added.

Source: Bernama