Selangor eyes RM7.5bil investments this year

SHAH ALAM: Selangor exco member in charge of investment, industry and trade, small and medium industries and Invest Selangor chairman Datuk Teng Chang Khim expects the state to secure RM7.5bil worth of approved investments this year.

“As at September last year, approved investments into Selangor stood at RM8.2bil, which exceeded our expectations of RM7bil for 2018,” he said at a press conference following the launch of HIL Industries Bhd’s joint-venture (JV) company, HIL-Edrola (M) Sdn Bhd, yesterday.

Teng said the conservative forecast is in light of the various global economic uncertainties currently.

“For 2019, we will have to take into consideration various factors, such as the impact of the US-China trade war,” he said, adding that investments for 2018 were mainly driven by the manufacturing, food and beverage, and electric and electronic sectors.

HIL-Edrola is a JV between HIL Industries, a one-stop custom injection moulding company, and Indonesia’s PT Dasa Windu Agung (DWA), which provides parts for top car companies such as Toyota, Daihatsu, Nissan, Suzuki and General Motors.

HIL Industries’ main customers include Perodua, Honda, Toyota and Proton.