ECONOMIC CRISIS STIRS HIGH COMPETITION FOR INVESTMENTS

KANGAR (Malaysia), Feb 24 (Bernama) -- The global economic crisis has
resulted in steep
competition worldwide to attract potential investors and Malaysia has not been
exempted from the race, Minister of International Trade and Industry, Muhyidin
Yassin said Tuesday.

The biggest challenge now is in attracting and bringing investors into the
country and one of the moves here would be to offer the best in infrastructure
besides other attractive facilities and incentives, he said.

Whatever it is, investors will go for packages that are best suited for
them, he told reporters after visiting the Pauh High Technology Park near here
Tuesday.

Muhyiddin also called on the state governments including Perlis to go for
proactive measures and offer the best in attracting investors particularly
foreign investors. He cited the efforts taken to develop the high tech park in
Pauh as one such initiative.

He said the technology park was capable of driving economic growth in Perlis
especially in the Pauh area more so with the expanding development in the
surrounding areas including the construction of the permanent campus for
Universiti Malaysia Perlis (UniMAP) and the Maktab Rendah Sains Mara (MRSM).

The government is also seriously considering the application from the Perlis
state government for an assistance of RM100 million to upgrade the
infrastructure around the Pauh High Technology Park.

This matter will be taken to the Finance Minister and hopefully it would be
considered for inclusion in the economic stimulus package to be tabled at the
Parliament this March 19, he said.

The park has so far brought in local investor, Penang based Pentamaster
Technology (M) Sdn Bhd, as its pioneering investor and is confident of getting
more investors interested in the high technology industrial area.

The park involves a 40-hectare area with almost 20 hectares of the area
already developed under the first phase involving a cost of RM100 million.

Pentamaster Technology will be investing RM100 million to set up its factory
at the park by end of this year. This is expected to offer 1,000 job
opportunities especially for the local people here.

The company's activities include mechanical design, software programming,
electronic design, metal surface finishing, precision fabrication, control
technology and automation solutions.

Muhyiddin said there were two other investors keen on investing in the park
but declined to give further details as they were still under the negotiation
stage.

The minister also visited Shorubber (Malaysia) Sdn Bhd (Shorubber),
the region's largest glove producer, at the Jejawi light industrial area near
here.

The factory which has 2,300 workers including 450 foreign workers produces
130 million pairs of gloves a year and is the second largest producer in the
world after a company in Australia. (US$1=RM3.67)
-- BERNAMA