Se­lan­gor eyes RM7.5bil in­vest­ments this year

The Star Malaysia - StarBiz - - News -

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.

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