Review of projects has not slowed Alibaba’s investment
HANGZHOU: The review of China-related projects in Malaysia has not slowed e-commerce giant Alibaba Group’s plans to continue to invigorate investments in Malaysia.
Alibaba Group Malaysia chief representative James Song said as a commercial company it will be investing a lot in Malaysia, insisting the Group pays a lot of attention to Malaysia-China bilateral relations.
“We are very positive about bilateral relations between both countries and at the same time we are very confident in Malaysia’s future.
“We’re fully confident in our project in Malaysia and there is no setback, we are going to continue to invest in Malaysia, we have never changed our commitment to the local people and we will continue to do that,” he told reporters at the Alibaba Group Media Familiarisation Visit here recently.
Song said Alibaba Group Cofounder and executive chairman Jack Ma paid a visit to Malaysia recently and had the honour of talking to Prime Minister Tun Dr Mahathir Mohamad and several ministers, including of finance and communications.
“What we saw and what we
We are very positive about bilateral relations between both countries and at the same time we are very confident in Malaysia’s future. James Song, Alibaba Group Malaysia Chief Representative
heard proved there is nothing wrong between the two countries, as there are also a lot of other companies which are concerned about Malaysia-China bilateral ties, but to us there are no negative signs between the two countries,” said Song.
It was earlier reported that Malaysia Rail Link Sdn Bhd had notified China Communications Construction Company (CCCC), the contractor for the East Coast Rail Link (ECRL) project, to suspend work on the 688.3-km railway project on the grounds of national interest.
The suspension came a day after the Finance Ministry disclosed that the final cost of the ECRL project was RM81 billion and that CCCC needed to significantly reduce the construction cost to make it financially viable.
The project was approved by the previous government on Oct 21, 2016 while the engineering, procurement, construction and commissioning agreement was signed with CCCC on Nov 1, 2016. — Bernama