Deals worth RM31 billion sealed
> PM’s visit to China sees signing of nine MoUs between Malaysian and Chinese firms
BEIJING: Nine business agreements were signed here on Sunday between Malaysian and Chinese companies with proposed investments estimated at US$7.22 billion (about RM31.3 billion).
Memorandums of understanding (MoU) for various sectors – particularly construction, agriculture, stock exchange, infrastructure and port and airport cooperation – were signed at a ceremony witnessed by Prime Minister Datuk Seri Najib Abdul Razak.
Most of the projects will be carried out in Malaysia.
The highest investment is for the Strategic Alliance Agreement between Johor Corporation and Siasun Robot Investment Co Ltd to develop 400ha of land for the Robotics Future City in Johor worth US$3.45 billion.
The futuristic city aims to develop the robotics industry and at the same time spur the growth of various supply chains in Malaysia, Bernama reported.
Another MoU signed between Yayasan Hartanah Bumiputera Sarawak, Consortium of Huanqiu Contracting & Engineering Co, and MACFeam Sdn Bhd is for the development of a methanol and derivatives complex in Tanjung Kidurong, Bintulu in Sarawak, costing US$2 billion, that is expected to be completed by 2021.
AirAsia Bhd also signed an MoU with China Everbright Group and Henan Government Working Group to establish a low-cost carrier in China.
An MoU was signed between KAJ Development and Power China, Shenzhen Yantian Port Group and Rizhao Port Group to jointly develop Malacca Gateway as a mixed development comprising four islands for tourism, smart-city and commercial hub, deep sea port, shipbuilding and repair services and maritime industrial park.
The gross development value of Malacca Gateway is US$6.92 billion (RM30 billion) as of November 2016.
A cooperation agreement was also signed to promote and develop the Malaysian Innovation Cluster within the China-Malaysia Qinzhou Industrial Park.
Agrofresh International Sdn Bhd and Dashang Co Ltd signed an exclusive agent agreement worth US$1.53 billion for the supply of Cavendish bananas and tropical fruits.
An investment for a mixed development, “The Shore” in Kota Kinabalu, Sabah, worth US$132.58 million, was also sealed.
The Shanghai Stock Exchange will collaborate with Bursa Malaysia Bhd in exploring potential ways to improve market accessibility and products in both markets.
Also present were Sarawak Chief Minister Datuk Amar Abang Johari Openg, Malacca Chief Minister Datuk Seri Idris Haron and the prime minister’s special envoy to China, Tan Sri Ong Ka Ting.