Malaysia's Overseas Investments Reach RM908 Bln Till June 2017

KUALA LUMPUR, Nov 20 (Bernama) -- Malaysia’s position in terms of foreign direct investment and portfolio investment amounted to RM908 billion for the period ended June 2017, the Dewan Rakyat (lower house of parliament) was told Monday. The Ministry of Finance Ministry (MoF) said more than half of the investments or RM574 billion comprised foreign direct investment abroad (DIA) by Malaysian companies. Top investment destinations were Singapore, constituting 16 per cent of the amount, Indonesia (nine per cent), Canada (seven percent), Australia (five per cent), the United Kingdom (five per cent), and India (four per cent), it said in a written reply to MP Dr Makin @Markus Mojigoh. The MoF said the foreign DIA was channelled primarily to the financial services sub-sector at 35 per cent, mining (19 per cent) and telecommunications services (eight per cent). For foreign portfolio investment, it said it was worth RM334 billion at the end of June 2017, of which two-thirds comprised assets held in the form of securities. Meanwhile, the MoF said 1,043 investigation papers had been opened under the Anti-Money Laundering and Anti-Terrorism Financing Act 2001 by relevant agencies, of them, 145 cases were brought to the court from 2013 until 2016. "For cases under the jurisdiction of Bank Negara Malaysia (Central Bank of Malaysia), 138 investigative papers had been opened and 44 cases were brought to the court from 2008 until 2016," it said. -- BERNAMA