TWO INDIAN CONGLOMERATES LOOKING INTO SETTING UP OPERATIONS IN M'SIA

KUALA LUMPUR, July 7 (Bernama) -- Two Indian conglomerates are looking into
setting up operations in the biotech and pharmaceutical industry in Malaysia by
end of this year.

Malaysia will be their hub in Southeast Asia if the deals kicks off, said
Director General of the Malaysian Investment Development Authority (MIDA),
Jalilah Baba.

"Its two huge companies for two big projects. It's definitely for more
than RM1 billion (US$312,000) for both.

"We are seriously negotiating with them, where we have made preliminary
offers. So it is in their hands to decide," she told reporters on the sidelines
of the bilateral meeting between the Ministry of International Trade and
Industry and the Indian Minister of Commerce and Industry here Wednesday.

Asked on further details of the two companies, Jalilah declined to give
details, saying that they were still in discussions.

Jalilah said the Indian parties have not decided on the locations yet and
hoped that they would decide to accept the offer before the scheduled Indian
Prime Minister Manmohan Singh's visit to Malaysia end of this year.

"We have brought them all around the country. They have been here many times
since the meetings that took place during our Prime Minister's visit to India
this year.

"Most likely it will take off and in fact in few months time, I think they
would really make a decision," she said.
-- BERNAMA


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