ID :
15861
Thu, 08/14/2008 - 16:10
Auther :
Shortlink :
https://oananews.org//node/15861
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MALAYSIA TO SEE INCREASE IN AUSSIE INVESTMENTS
MELBOURNE, Aug 14 (Bernama) -- The Australia-Malaysia Business Council (AMBC)says Australian investments will continue to increase, especially after the recent visit to Kuala Lumpur by Prime Minister Kevin Rudd.
"The close and cordial relationships between Australia and Malaysia has provided a solid foundation for both countries to strategically and energetically continue the pursuit of mutually-beneficial business and investment opportunities," AMBC national president Chan Wee Keat toldBernama.
He said in 2007, Malaysian Industrial Development Authority (Mida) approved 17 projects from Australia with investments valued at RM1.7 billion mainly in basic metal, chemicals, non-metallic minerals, fabricated metal products andmachinery manufacturing.
"Malaysian investments in Australia have also been encouraging. In 2007, Malaysian investments in Australia totalled A$3.3 billion (A$1=RM2.85), anincrease of 17.8 percent over the previous year.
"Malaysia is the eleventh largest foreign investor in Australia and among the well-known Malaysian companies operating in Australia are Petroliam Nasional Bhd, Sime Darby Bhd, Mulpha International Bhd, YTL Corp Bhd, Wah Seong Bhd andMalaysian United Industries Bhd," he said.
Penang-born Chan recently co-hosted a number of trade mission activities in Kuala Lumpur including the visit by the Deputy Premier and Treasurer of SouthAustralia Kevin Foley.
Together with Malaysia-Australia Business Council (MABC) chairman, Datuk Mohamed Zain Mohamed Yusuf, Chan co-hosted a joint MABC-AMBC business luncheonat which Rudd was the keynote speaker.
Chan also met the new director-general of Mida, Jalilah Baba, to discuss potential areas of collaboration in the manufacturing and services sectors andthe prospects for increased cooperation between Malaysia and Australia.
"Australians will be impressed with the vision and commitment of Jalilah to the increase of investment and business opportunities and initiatives betweenthe two countries," he said.
Mida Sydney director, Jaswant Singh, said Rudd's visit to Malaysia would contribute significantly to increased interest and prospects between the twonations.
"Australian investments into Malaysia, particularly in high-value addedprojects such as biotechnology and agrifood will increase significantly.
"Australian companies acknowledge Malaysia as a strategic launch-pad into the Association of South-East Asian Nations market of nearly 570 million people, as a base for their markets in China and India, and the immensely lucrativehalal market in the Middle East," he said.
"The close and cordial relationships between Australia and Malaysia has provided a solid foundation for both countries to strategically and energetically continue the pursuit of mutually-beneficial business and investment opportunities," AMBC national president Chan Wee Keat toldBernama.
He said in 2007, Malaysian Industrial Development Authority (Mida) approved 17 projects from Australia with investments valued at RM1.7 billion mainly in basic metal, chemicals, non-metallic minerals, fabricated metal products andmachinery manufacturing.
"Malaysian investments in Australia have also been encouraging. In 2007, Malaysian investments in Australia totalled A$3.3 billion (A$1=RM2.85), anincrease of 17.8 percent over the previous year.
"Malaysia is the eleventh largest foreign investor in Australia and among the well-known Malaysian companies operating in Australia are Petroliam Nasional Bhd, Sime Darby Bhd, Mulpha International Bhd, YTL Corp Bhd, Wah Seong Bhd andMalaysian United Industries Bhd," he said.
Penang-born Chan recently co-hosted a number of trade mission activities in Kuala Lumpur including the visit by the Deputy Premier and Treasurer of SouthAustralia Kevin Foley.
Together with Malaysia-Australia Business Council (MABC) chairman, Datuk Mohamed Zain Mohamed Yusuf, Chan co-hosted a joint MABC-AMBC business luncheonat which Rudd was the keynote speaker.
Chan also met the new director-general of Mida, Jalilah Baba, to discuss potential areas of collaboration in the manufacturing and services sectors andthe prospects for increased cooperation between Malaysia and Australia.
"Australians will be impressed with the vision and commitment of Jalilah to the increase of investment and business opportunities and initiatives betweenthe two countries," he said.
Mida Sydney director, Jaswant Singh, said Rudd's visit to Malaysia would contribute significantly to increased interest and prospects between the twonations.
"Australian investments into Malaysia, particularly in high-value addedprojects such as biotechnology and agrifood will increase significantly.
"Australian companies acknowledge Malaysia as a strategic launch-pad into the Association of South-East Asian Nations market of nearly 570 million people, as a base for their markets in China and India, and the immensely lucrativehalal market in the Middle East," he said.
