Malaysia may see investment from prominent China developer

BEIJING (Nov 3): Malaysia has attracted growing investment interest from major China companies, among which is the giant real estate developer, China Fortune Land Development Co Ltd (CFLD), Bernama reported today.

CFLD has been making enquiries on venturing into Malaysia, revealed Minister of International Trade and Industry Datuk Seri Mustapa Mohamed during his six-day official visit this week to the Middle Kingdom with the Malaysian delegation led by Prime Minister Najib Tun Razak.

The company, a pioneer of the public-private partnership model, has set up more than 50 new industrial cities including the Guán New Industry City. Its investment in it totals US$4.8 billion (RM20.08 billion) to date. 

According to Mustapa, the city, built in 2002, has been transformed into a Global Technology Centre (GTC) in collaboration with Tsinghua University, Peking University and the Zhongguancun Science and Technology Park, Bernama reported.

The leading expert in investment and operations of new industrial cities is spearheaded by its founder and chairman Wang Wenxue, who is one of China's wealthiest and most prominent entrepreneurs.

CFLD is the first private firm in China to be involved in high-speed railway developments, besides the construction and operation of two inter-city railway projects.

As of September this year, CFLD's sales revenue reached US$13.2 billion (RM55.22 billion) and its total assets exceeded US$32 billion (RM133.89 billion).

Meanwhile, a total of 14 trade agreements worth RM144 billion between Malaysian and Chinese companies were signed on Tuesday, paving the way for more Chinese investments into Malaysia, Bernama reported.

So far, China has invested US$2.5 billion (RM10.46 billion) in Malaysia.