M`SIAN BUSINESSMEN UPBEAT ABOUT TRADE PROSPECTS WITH CHINA

From Yong Soo Heong

BEIJING, June 2 (Bernama) – Malaysian businessmen are upbeat about increased
business prospects with China in the not too distant future.

And they have come in droves in support of Najib Tun Razak’s
first official to China as prime minister beginning Tuesday.

More than 200 Malaysian businessmen are expected to attend a Malaysia-China
Business Forum at the China World Hotel in downtown Beijing on Thursday.

They have come prepared with a lot of brochures and special newspaper
supplements on Najib's official visit and write-ups on their companies.

More than a dozen Memoranda of Understanding are expected to be signed on
Thursday between Malaysian and Chinese businessmen.

Bilateral trade between Malaysia and China reached US$39.06 billion in 2008,
an increase of 10.3 percent compared with 2007.

China's emergence as an economic powerhouse has been acknowledged by Najib
in his article in the China Daily today when he said that China was today the
second largest economy in the world in purchasing power parity (PPP) terms and
the third largest, after the US and Japan, in nominal GDP terms.

"It is home to the world's largest foreign reserves and is an increasingly
important and influential player on the world stage," Najib said.

For instance, Shanghai, the venue of the World Expo next year, has even been
touted as the next Detroit as more car companies set up their bases in the
bustling business city.

Tan Kai Hee, managing director of Hai-O Enterprise Bhd, said Malaysian
businessmen are giving their fullest support to Najib’s official visit.

"This is very important to us as the forum is likely to open more doors for
us. First and foremost, we would have to give our support to our prime minister
who has come to provide us with encouragement," said Tan, whose company imports
sizeable quantities of raw materials for its herbal products.

Another Malaysian businessman who is here for the forum is INS Bioscience
Bhd chief executive officer Yeat Sew Chuong.

His company is also looking at increased co-operation with China through its
joint venture in Dalian, which would increase production of its herbal drinks
beginning next month.

Yeat, who is also Chairman of the Malaysia-China SME Council, said there has
been an increase in the demand for such drinks and the joint venture would need
to have another production line.

He also said that a proposed joint venture with Chinese investors on an
insulin plant projet could also materialise once negotiations were completed.

-- BERNAMA