HK-based business association eyes opportunities in Malaysia
KUALA LUMPUR: A delegation from the Association for The Promotion of Global Chinese Traders Fraternity Ltd (GCTF) is in Malaysia for a threeday visit to explore investment opportunities.
“Malaysia is developing well over the past five years and it is politically stable. Also, the bilateral relation between Malaysia and China is at its warmest level, that is why we are here,” GCTF president Alan Chuang Shaw Swee said.
He was speaking to reporters before a dinner in Kuala Lumpur hosted by CMY Capital Group chairman Tan Sri Chua Ma Yu.
Chuang, who is also the chairman of Hong Kong-listed Chuang’s Consortium International Ltd, viewed Malaysia as a good investing location.
“Common law is used in Malaysia, just like Hong Kong. It is suitable for us. English, Chinese, Cantonese are commonly used here too. We are also in support of the Belt & Road (B&R) initiative and we are actively looking at investment opportunities in the countries along the B&R,” he said.
Chuang said members of the B&R delegation to Malaysia is interested to invest in the property and agriculture sectors.
“Personally I am interested to invest in property development and bullish on the long-term prospects of the property sector in Kuala Lumpur. I am looking for land to build serviced apartment here,” he said, adding that his company plans to build a hotel in Malaysia too.
On suggestions to attract more investment from Hong Kong businessmen, Chuang said Malaysia should address the labour shortage issue here and be more open on its immigration policies.
Meanwhile, Chua said entrepreneurs in Malaysia need to collaborate and cooperate more with overseas businessmen.
“This can be collaboration in product development, marketing, research and development, among others,” he said.
“Malaysian businessmen should cooperate with businessmen from China and around the world. This is how to grow businesses to another level,” Chua, who is the honorary president of GCTF, said.
A delegation led by Chuang arrived in Kuala Lumpur in two private jets on Nov 26.
The delegation of 24 members had an audience with the Yang di-Pertuan Agong Sultan Muhammad V at Istana Negara and later paid a visit to the International Trade and Industry Ministry, Chinese embassy and is expected to visit the Federation of Chinese Associations Malaysia (Huazong) and the Associated Chinese Chambers of Commerce and Industry of Malaysia.
GCTF, a non-governmental organisation registered in Hong Kong, is an internationally-recognised organisation dedicated “to rally Chinese elites and advance the rejuvenation of the Chinese nation”.
Cheerful moment: (from left) Chua, Huazong president Tan Sri Pheng Yin Huah, GCTF honorary president Li Xian Yi, Chuang and Mah Sing group MD Tan Sri Leong Hoy Kum sharing a light moment at the dinner.