ID :
119342
Thu, 04/29/2010 - 16:30
Auther :

AUSTRALIANS LOOK TO TAP ENERGY AND INFRASTRUCTURE SECTOR WITH MSIAN FIRMS

By Tengku Noor Shamsiah Tengku Abdullah

KUALA LUMPUR, April 29 (Bernama) -- Australians, particularly from the state of Queensland, are seeking opportunities for potential collaboration with Malaysian companies.

This is moreso, for the energy and infrastructure sector.

Queensland’s Minister for Natural Resources, Mines and Energy and Trade,
Stephen Robertson said one thing Malaysia and the state had in common, is a very
ambitious infrastructure programme.

"If we can share technology and knowledge, particularly on new ways of
building infrastructure more sustainably and cheaper, it would work to our
mutual benefit.

"What we are here for now is to look at opportunities, particularly in the
energy and infrastructure sector," he told Bernama in an interview here.

Robertson was leading a two-day trade mission to Malaysia, comprising six
"smart companies" specialising in various fields, including infrastructure
planning and asset maintenance.

He said the companies are involved in a broad number of sectors but
energy is also an important part of the visit.

"Queensland and Malaysia have a very important relationship through
our company Santos and Petronas, who have come together in the emerging
Liquefied Natural Gas sector.

"Queensland will be the first base in the world to develop oil and gas
conversion to LNG and Petronas is the very strong partner in that effort," he
said.

According to Robertson, Queensland's main growth area is gas but also
has a traditional strength in coal.

"We see a further expansion of coal export, particularly into countries such
as Malaysia.

The minister said the delegation would be meeting several major Malaysian
companies involved in the energy and infrastructure sector, including Petronas.

He explained that Queensland is currently undergoing the privatisation of a
number of government owned assets, including coal, ports and
forest plantations.

"We are in the process of selling these in an effort to raise capital for
further investment in infrastructure.

"Queensland is Australia's fastest growing state. The population is
also growing at over 2.5 per cent annually. This requires the government to
undertake a very large infrastructure programme, to keep pace with the growing
population," he explained.

He also said the state was selling matured assets and using the capital to
invest in new infrastructure programmes such as hospitals, roads, and bus
stations.

"All these are significant infrastructure programmes spread over the next 20
years," he added.

He also said Prime Minister Najib Tun Razak's announcement on a
cleaner energy future for Malaysia under the New Economic Model, would put the
country on par with Australia, which is striving to ensure a cleaner
energy mix.

"At the same time, ensuring energy prices are maintained at the lowest
possible level, requires technological and innovative solutions.

"This is where Malaysia and Australia should come together and share
experiences for our mutual benefit. It is also why this visit is very
important," he noted.

On Malaysia's intention to raise per capita income to between US$15,000
and US$17,000, Robertson pointed out that one of the areas that underpinned
the Australia-Malaysia relationship for the past 50 to 60 years, is education.

"Many Malaysians have come to Australia to study and continue to do so.

"At this point of time, around 22,000 students are studying in Australia and
about 20 per cent of them, are in Queensland.

"We see education as being critical for any society or country to grow and
achieve significant growth in gross domestic product, thus increasing per capita
income," he said.

The minister also said Malaysia and Australia exist in the most exciting
part of the world.

"This century is all about Asia. The growth we see coming out of
countries like Malaysia, means Australia's future is assured as well.

Asked about Malaysia's attractiveness as an investment destination,
Robertson said Malaysia is located in a strategic part of Asia.

"This position, I think, helps it very well to identify and maximise
opportunities not only in terms of its neighbours, but also attract investors
from the Middle East," he said.

He said Australia looks at Malaysia as a country that it could also learn
from.

"We will be looking closely at how Malaysia does things," he added.

On Islamic banking, he said: "There is a great potential for this sector in
Australia, as we have an emerging Islamic community.

"The particular area that I represent in Queensland, has quite a
significant Muslim population.

"They provide us an opportunity to explore new markets into the
Islamic world. Perhaps, we have not done much of this previously, but will do so
in the face of the emerging opportunities before us."

-- BERNAMA


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