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Penang expects RM5bil investments.

Penang expects to secure some RM5billion of investments from four multinational corporations (MNCs) in the electronic-based manufacturing sector this year.

Speaking at a press conference on the economic outlook for Penang in 2015, InvestPenang Director, Datuk Lee Kah Choon said two of the companies have received approvals from the Malaysian Investment Development Authority (MIDA) while the other two are in the final stages of negotiations. These latest investments would create some 2,000 jobs, he said.

Meanwhile, the Penang International Technology Park in Batu Kawan and the Business Process Outsourcing (BPO) project in Bayan Baru would be jointly developed with Temasek Holdings and the Economic Development Innovations Singapore and are expected to be completed in five to 10 years. These projects with a gross development value of RM11.3 billion would generate 25,000 to 30,000 jobs.

In terms of investment, Penang remains as among the top investment destinations in Malaysia, coming in at third spot after Johor and Sarawak for approved investments in the manufacturing sector for the first nine months of the year. During the period, the state attracted close to RM6 billion of investments in the manufacturing sector, of which over 55% were foreign direct investments.

Lee expects the services sector in particular the medical tourism and support services outsourcing would boost growth in the state’s economy, going forward, as the contribution from the manufacturing sector to the state’s gross domestic product (GDP) in 2015 is expected to be around 47%, down from some 54% in 2005.

The services sector in Penang is projected to gradually overtake the manufacturing sector, in line with the state’s plan to converge manufacturing and services industries through the shared services and outsourcing sector, he added.

Source: StarBiz 29 Jan 2015

Penang expects RM5bil investments.

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Johor had attracted significant level of investments in the food sector with 12 projects with investments of RM399.5million approved for the first nine months of last year, due in part to the two halal parks in the Iskandar Malaysia region- Halal Malaysia (HalMas) in Tanjung Langsat and Sedenak

The Malaysian Investment Development Authority (MIDA) has continued to encourage Singaporean food companies to invest as well as outsource halal products and services in the state.

Singapore Manufacturing Federation (SMF) Deputy President, Sunny Koh said investors from Singapore and Malaysia would benefit from the warm ties between the two countries. In addition, businesses would gain from the zero or lower import tariffs, which is a value-added advantage for food manufacturers.

He called for the creation of an ecosystem so that food industry players could set up their base in Malaysia.

Koh was speaking at the Food Technology Industry seminar jointly organised by MIDA, Spring Singapore, SMF and Iskandar Regional Development Authority in Johore, yesterday. He represented some 100 Singaporean participants at the event, which were attended by over 200 representatives from the food and related sectors.

MIDA Executive Director, Manufacturing Development (Resource), N. Sangaran concurred with Koh for an ecosystem that would enable Singaporean food manufacturers to minimise operating cost and encourage them to expand to Malaysia. This would boost businesses in the supporting services sector as well as create more jobs.

At a media conference after the seminar, Sangaran said Johor is likely to emerge as the state which had attracted the highest level of manufacturing investments last year. The state has consistently stayed among the top five investment destinations in the country over the years.

For the first nine months of 2014, Johor received 147 projects with investments of some RM20.1billion.

The Minister of International Trade and Industry, Dato’Sri Mustapa Mohamed is scheduled to release the country’s investment performance for 2014 in Kuala Lumpur on Feb 28.

Source: NST Business Times and StarBiz

Johor attracts significant investments in food manufacturing.

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Foreign companies with investments in Malaysia have expressed their commitments to invest in the country for the long term, noting the government’s proactive measures and a business-friendly environment here.

Royal Vopak Chairman Executive Board and Chief Executive Officer, Eelco Hoekstra said the group has always taken a long-term view of their investments based on good governance in Malaysia, the actively working public-private sector collaboration as well as good partners, adding that Malaysia has a lot of attributes that sync with their strategy for investment.

Hoekstra said this to Malaysian reporters at the luncheon jointly hosted by Khazanah Nasional Bhd, Malaysian Investment Development Authority (MIDA) and InvestKL on the sidelines of the 45th World Economic Forum in Davos, yesterday.

The Dutch company is currently in a joint venture with Petronas and Dialog Group to develop an industrial terminal in Pengerang, Johor, which is a key component of the Petronas Pengerang Integrated Complex.

Similarly, Lafarge Chairman and Chief Executive Officer, Bruno Lafont, who was also at the luncheon, viewed the company’s commitments in Malaysia as long-term investments, adding that Malaysia has a promising position in the company, which currently operates in over 60 countries.

Earlier, addressing top foreign corporate leaders at the luncheon, Prime Minister Datuk Seri Najib Razak assured the business community that Malaysia’s economic fundamentals remain strong, supported by comfortable levels of external reserves, low external debt, low unemployment and healthy inflows of foreign direct investments, despite the anticipated challenging environment this year.

The Prime Minister also highlighted the ASEAN region as a potentially viable investment gateway to greater Asia. Malaysia, which takes over the Chair of ASEAN this year would move to build an economically-integrated ASEAN especially towards the establishment of a single market and production base, he added.

The business luncheon was well-attended with the presence of more than 100 top-level corporate decision makers from leading companies including General Electric, Barclays, Bata, Huawei, Lippo Group, Hyatt Hotel and Ernst & Young.

Among the Malaysian business leaders attending the event were Khazanah Nasional group managing director, Tan Sri Azman Mokhtar, Axiata president and Group chief executive officer, Datuk Seri Jamaludin Ibrahim, CIMB Group Holdings Bhd chairman, Datuk Seri Nazir Razak, AirAsia Group chief executive officer, Tan Sri Tony Fernandes and UEM Group chairman, Tan Sri Dr Ahmad Tajuddin Ali.

Source: :Bernama, New Straits Times and The Sta 23 Jan 2015

Foreign companies continue to be committed to invest in Malaysia for the long term

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The Malaysian Investment Development Authority (MIDA) expects to see more investment inflows riding on the lower ringgit, which will make Malaysia an even more cost-competitive location for business.

Investors from countries, where their currencies appreciated against the ringgit, particularly the United States are expected to invest more in Malaysia as it would be cheaper and more competitive for them to invest here, MIDA Deputy Chief Executive Officer, Datuk Phang Ah Tong said after the opening of the seminar- “Investment Opportunities in the Renewable Energy Sector in Malaysia, organised by MIDA and the ASEAN Korea Centre in Kuala Lumpur, yesterday.

He said export-oriented industries such as electronics, medical device, aerospace, engineering and machinery sectors as well as resource-based industries such as rubber and furniture with high local content would stand to benefit from the weaker ringgit.

On renewable energy, Phang said Malaysia is keen to raise its energy mix, which currently is dependent on coal, natural gas, small hydro and diesel, adding that the country aims to have 5% of its energy needs from renewable energy (RE) sources by year-end, up from 2% last year. By 2020, Malaysia targets to reach 11% or 2,080 MW of its energy requirements from RE.

Source: NST Business Times and StarBiz

MIDA expects higher investment inflows with lower ringgit.

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Messier Bugati Dowty (Safran), the world’s leading supplier of carbon brakes for commercial airplanes, yesterday inaugurated a new carbon disk plant in Sendayan Techvalley in Negeri Sembilan, near to the Kuala Lumpur International Airport.

Speaking at the inauguration ceremony officiated by the Yang di-Pertuan Besar Negeri Sembilan, Tuanku Muhriz Ibni Almarhum Tuanku Munawir, Safran Chairman and Chief Executive Officer, Jean-Paul Herteman said “We are proud to inaugurate this new plant, the first of its type in Asia, which will support our business growth in the region. Malaysia is one of the world’s most promising aviation hubs, and by expanding our operations here we are consolidating our strong market position in the Asia-Pacific.”

He also thanked the Malaysian government, the State of Negeri Sembilan and the Malaysian Investment Development Authority (MIDA) for their support towards the project.

The new plant will complement the two existing carbon disk facilities in France and another in the United States and will meet the needs in this region, where the aircraft fleet is recording strong growth.

The plant covering 10,000 square meters (108,000 sq ft) would focus on the production of carbon brakes for commercial airplanes, particularly the Boeing 737 and Airbus A320 families of single-aisle jets. Expected to be fully operational in 2017, the plant would produce some 10,000 brakes for the global market and by 2018, the plant is expected to create some 150 jobs, Herteman said.

Currently, Safran supplies carbon brakes for over 2,000 airplanes in Asia and has provided equipment to more than 6,000 commercial airplanes globally.

The new facility will boost Safran’s presence in Malaysia, together with facilities operated by two other Safran companies, Morpho in the security sector and Turbomeca in helicopter engines.

Meanwhile, Negeri Sembilan Menteri Besar Datuk Mohamad Hasan, said the state has the required facilities and resources to attract investors and make the state a preferred site for investments.

Also present at the event were the two sons of the Yang di-Pertuan Besar Negeri Sembilan, Tunku Besar Seri Menanti Tunku Ali Redhauddin Ibni Tuanku Muhriz and Tunku Zain Al-bidin ibni Tuanku Muhriz and the French Ambassador to Malaysia, Christophe Penot.

Source: NST Business Times 16 Jan 2015 and Safran website

Messier Bugati Dowty inaugurates new plant in Malaysia.

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Source: NST

Sustainable momentum

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KUALA LUMPUR: Malaysia flexed its investment muscles to chart a new record RM235.9 billion in approved investments last year, placing it closer towards its goal of a developed nation in five years.

Against a challenging global environment of falling foreign direct investments, Malaysia stood as `beacon’.

International Trade and Industry Minister Dato’ Seri Mustapa Mohamed said private investments again surpassed the RM148 billion average annual target set under the Tenth Malaysia Plan with a record RM181.45 billion in 2014.

“The record investments will fund 5,942 approved projects and are expected to create 178,365 new jobs,”he said, when releasing details of the annual investment performance by the Malaysian Investment Development Authority (MIDA).

Domestic investments contributed to a large chunk of investments versus foreign sources, with 72.6 per cent of the total.

The investments in 2014 underscore Malaysia’s transformation into a high-income economy, with several quality projects in advanced technologies and manufacturing services featuring prominently among the year’s biggest projects.

The services sector remains the biggest magnet for investments, attracting a total of 5,059 approved projects in 2014 with investments amounting to RM149.6 billion, and they are expected to create 98,543 job opportunities.

The manufacturing sector proved no less attractive to investors in 2014 as approved investments surged by 38 per cent to RM71.9 billion.

According to MIDA, the ASEAN region starred as a vibrant magnet .

“Many of Malaysia’s investments in 2014 stem from multinational businesses that are eager to be part of the economic powerhouse that the ASEAN Economic Community seems destined to become. “

About 73 per cent of approved foreign investments within Malaysia’s manufacturing sector came from Asian trading partners like Japan, China, Singapore and South Korea.

“Although the outlook for global FDI in 2015 is uncertain due to the volatile exchange rates, rock-bottom commodity and oil prices, “ bright spots of promising growth”may still be found in Asia and the ASEAN region in particular”.

Source : New Straits Times

Posted on : 27 February 2015

Record RM236 billion in approved investments in 2014: Mustapa Mohamed.

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