CHINA FIRMS KEEN TO INVEST IN SARAWAK

KUALA LUMPUR, April 12 (Bernama) -- Many firms from China have expressed
their keen interest to invest in the east Malaysian state of Sarawak in view of
the high electricity power supply potential in the state, particularly from the
Bakun Dam, said Malaysia Investment Development Authority's Director general
(MIDA), Jalilah Baba.

She said Sarawak's huge land bank was also a good attraction for firms
involved in the metal, solar cell, plantation, power and polycrystalline silicon
industries.

"We receive many enquiries and are in negotiation with several Chinese
companies for several projects worth quite a few billion," she said at the
sidelines of Invest Malaysia 2011, here today.

Chinese firms only invested RM639.5 million last year compared with the
total of RM47.2 billion (US$15.73 billion) amount of investments approved.

MIDA approved investment projects worth RM3.9 billion (US$1.3 billion) in
Sarawak last year, the fourth highest in terms of total investments received by
all the states after Johor, Penang and Selangor.

Jalilah said MIDA will intensify efforts to attract more companies in the
Middle East countries to invest in Malaysia as the current high oil price had
increased their funds for investment abroad.

Unrest in the region will not impact MIDA's efforts to bring in more
investment from Saudi Arabia, the UAE and Qatar, she said, adding that only
these three countries had huge investments overseas.

The Middle East firms registered RM4.6 billion (US$1.53 billion) worth of
investments last year in the biotechnology, food, textile and metal-based
sectors.

"This year we are more upbeat as the climate in the country is getting
better due to the Government Transformation Programme and Economic
Transformation Programme," she said.