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HINA-Malaysia ties are at an all-time high and both countries must continue to leverage what one can offer the other. That was the core message from LBS Bina Group Bhd Group Managing Director Tan Sri Lim Hock San, who attended China’s recent annual parliamentary and consultative sessions.
Lim explained that the events, often referred to as Lianghui (which means two meetings in Mandarin), comprised the Chinese People’s Political Consultative Conference (CPPCC), which plays an advisory role, and National People’s Congress (NPC), which is legislative in nature.
He was in China for 11 days from March 3-13 to attend the Lianghui and was there in his capacity as the President of the Federation of Malaysian Lim Associations.
He was nominated to attend the event by the Chinese embassy in Kuala Lumpur.
“In China, everywhere
I went, they praised Malaysia because of the way our prime minister has nurtured the nation’s relationship with China. China’s economy is still very strong and this is good for both our economies.
“Malaysia is strategically located and enjoys a good relationship with China, and there are many Chinese investors and tourists coming here,” said Lim.
This year, he said, three million Chinese tourists are expected to visit Malaysia, with each spending an average of RM5,000 in the country.
Besides networking with China’s officials as well as with members of the Chinese diaspora from around the world who had gathered for the Lianghui, Lim also shared his experience and observations with the Chinese while in Beijing.
He proposed that China’s “One Belt One Road” (OBOR) initiative be taken to a higher level with the Chinese central government promoting its strategies to non-Chinese audience.
“I have spoken to Chinese companies coming to Malaysia to invest and I always tell them to collaborate with Malaysians of all races. Greater education efforts targeted at non-Chinese communities are important to raise the awareness and understanding about China’s ‘One Belt One Road’ policy within the business community and investors alike,” he added.
Lim also echoed the Chinese Premier Li Keqiang’s call that agreements approved by officials who are subsequently promoted or rotated to other provinces should be honoured by the incumbent office-bearer, saying that newly-appointed officials must not ignore the agreements made by their predecessors.
“In relation to strengthening the confidence of foreign investors abroad in the Chinese government, I hope that a system is put in place that enables foreign investors to followup on the status of stalled projects as a result of a change in leadership,” he said.
He also highlighted the importance of equal treatment among foreign and domestic investors by the Chinese government.
A key takeaway from his Lianghui experience that he hopes to see implemented in Malaysia is the ability of the Chinese central government to filter down key policies and directives to the grass root level.
“In China, when the President says something, it goes down all the way to the provinces. People are aware of the Chinese government’s policies. The policies formulated at the Lianghui are meant to help the Chinese people there,” he remarked.
Lim said the Malaysian government could also elaborate more to the “rakyat”, explaining how, for example, the budget benefits them.
He said effective communication of policies is a very important step the government should continue. This will greatly help the “rakyat” see the good work being done and how it benefits them.
Lim also touched on LBS Bina’s investments in China, namely in relation to the upgrading and transformation works carried out at the Zhuhai International Circuit (ZIC).
He believes the land has great potential and he is confident that LBS Bina will benefit from the developments in the area, especially with the 29kmbridge connecting Hong Kong to Zhuhai scheduled for completion by next year.
The bridge is expected to effectively reduce travel time to 30 minutes between these two places.
Asked about the outlook for the property market in Malaysia, Lim said the market is expected to improve in the third or fourth quarter of this year.
He also expects the ringgit to improve around the same period.
“In my opinion, funds (from the market) went back to the United States when Donald Trump was elected as the president. On the positive side, I believe Malaysia, supported by the Economic Transformation Plan, continues to be an attractive destination for investors,” he observed.
Balancing his responsibilities to various associations and organisations in Malaysia, Lim shared that his role in leading LBS Bina to greater heights as an internationally recognised developer remains a priority.
“I am always looking at strategies. We are always planning at the management level to take LBS to the next level,” he said.
I believe Malaysia, supported by the Economic Transformation Plan, continues to be an attractive destination for investors.