Chairman: InvestKL on track to attract 10 MNCs by year end

KUALA LUMPUR: InvestKL Corporation is on track to achieve its target of attracting 10 multinational corporations ( MNCs) to relocate their headquarters to Greater Kuala Lumpur ( KL) by year- end.

Chairman Datuk Seri Michael Yam said InvestKL had managed to attract eight MNCs to relocate their headquarters here so far this year despite challenging economic conditions.

“Although there are only about two months left of 2017, the board is confident of the team’s ability as they have always managed to achieve their target before Christmas,” he told Bernama on the sidelines of the launch of Sports Direct’s flagship superstore yesterday.

On the eight MNCs, Yam said, most of them were from the Europe, including France and Switzerland.

“They are big companies with annual turnovers of two to three billion euros ( one euro = RM5),” he said, adding that

Although there are only about two months left of 2017, the board is confident of the team’s ability as they have always managed to achieve their target before Christmas Datuk Seri Michael Yam, InvestKL chairman

the companies were involved in various types of businesses, including water, fragrance, chocolate and oil and gas.

InvestKL, established in 2011, is mandated by the government to attract and facilitate large foreign multinational investments into Greater KL/ Klang Valley, with a target of drawing 100 MNCs by 2020.

The entity had managed to attract 71 MNCs thus far, with the majority of them from the European countries and the US.

On 2018 Budget wishlist, Yam said, he hoped the government would look into reducing corporate tax and introducing a more transparent taxation system. — Bernama