Malaysia's Foreign Affiliates Generate Value Added Of US$49.92 Bln In 2015

KUALA LUMPUR, Nov 28 (Bernama) -- The value added generated by foreign affiliates in Malaysia was US$49.92 billion (RM222.9 billion) in 2015, up 1.9 per cent from 2014, said the Department of Statistics Malaysia. In a statement Monday, the department said the manufacturing sector contributed 45.5 per cent of the value added, followed by mining (28.2 per cent). "Gross fixed capital formation (GFCF) of foreign affiliates was RM66.7 billion in 2015, rising by RM3.3 billion from 2014. "The distribution in GFCF was led by the mining sector with a share of 45.9 per cent," it said. A foreign affiliate is an enterprise operating in Malaysia with more than 50 per cent equity owned by a foreign company. The department said Malaysia had 2,922 foreign affiliates in 2015, up by 0.3 per cent from 2014, of which 56.6 per cent were involved in the manufacturing sector, while services accounted for 35.2 per cent. "Last year, foreign affiliates, dominated by those from Asia, accounted for 61.4 per cent compared with 61.6 per cent in 2014. "This was followed by Europe and the United States which contributed 21.0 per cent and 14.5 per cent respectively," it said. Meanwhile, the department highlighted that there were 847,952 employees recorded in 2015, with the manufacturing sector registering 75.3 per cent, followed by services (19.3 per cent). "In 2015, foreign affiliates in Malaysia generated RM290.2 billion of exports, while imports recorded RM240.0 billion. Both exports and imports were dominated by the manufacturing sector as the largest contributor," it added. (US$1 = RM4.45) -- BERNAMA