Potential Investments Of US$626.04 Million From Mission To South Korea & Japan

By Christine Lim KUALA LUMPUR, Dec 2 (Bernama) -- The trade and investment mission to South Korea and Japan from Nov 23-27, organised by the Malaysian Investment Development Authority (MIDA), proved successful with potential investments of US$626.04 million (RM2.66 billion) recorded. MIDA chief executive officer Azman Mahmud said the investments are mainly in chemicals and chemical products, electrical and electronics, steel related products, as well as food and plastics. "There was strong interest shown from the 12 meetings with companies in Seoul, Osaka and Tokyo," he told Bernama. Azman said there was also some interest shown in other potential sectors for investment into Malaysia that included the food and halal industry, hospital, healthcare and nursing homes, medical devices, oil and gas, pharmaceuticals, regional establishments, services as well as transport and aircraft components. The mission was targeted at attracting high quality and advanced technology-based investments from South Korea and Japan. Beside company meetings, Azman said MIDA also organised business seminars on "Business Opportunities in Malaysia", which were attended by over 1,000 participants from targeted companies and major corporations in Seoul, Osaka and Tokyo. "The companies showed keen interest in exploring investment and trade opportunities in Malaysia," he added. The Malaysian delegation on the trade and investment mission to Seoul, Osaka and Tokyo comprised 48 delegates from the private sector, as well as government and investment promotion agencies. The participation included representatives of the Ministry of International Trade and Industry (MITI), MIDA, the Malaysia External Trade Development Corporation (MATRADE), the Halal Industry Development Corporation (HDC) and Iskandar Regional Development Authority (IRDA). The private sector representation came from Kulim Hi-Tech Park, Ascendas Service Malaysia Sdn Bhd, Nusajaya Tech Park Sdn. Bhd, Tentu Teguh Sdn Bhd, UEM Sunrise Bhd, Johor Biotechnology & Biodiversity Corp (J-Biotech), WB Land Sdn Bhd, CIMB, Miresco Integrated and POIC Sabah Sdn Bhd. Malaysian Minister of International Trade and Industry Mustapa Mohamed arrived in Osaka on Nov 25 and presented his keynote address at the seminar on "Business Opportunities in Malaysia". Mustapa had meetings with officers from leading Japanese companies in Tokyo before departing the following day. In 2014, Japan was Malaysia's third largest trading partner after China and Singapore and was among the largest source of foreign direct investments in the manufacturing sector. Malaysia is South Korea's sixth largest investment destination. --BERNAMA