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Malaysia Sets RM1.5T Investment Target for 11MP

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Malaysia Sets RM1.5T Investment Target for 11MP Tuesday, June 2, 2015 ALL BUSINESS DAILY 8 CORPORATE MALAYSIA LocalNews Malaysia sets RM1.5t POLITICS ▶ PBS urges DAP not to politicise ESSCom PARTI Bersatu Sabah (PBS) has urged DAP leaders to refrain from belittling the Eastern Sabah Security Com- investment target for 11MP mand (ESSCom) merely to gain political mileage. Its infor- mation chief PBS Datuk Jahid Jahim said in response to Sabah DAP chairman Jimmy Wong’s alleged criticism of Investment target tors, to increase direct invest- billion into the economy to ESSCom over the latest kidnapping incident in Sandakan, for 11MP seen as ment into manufacturing and make up 82.6% of all invest- that state security was not ESSCom’s responsibility alone. infrastructure projects. ments for the quarter, a 152.6% “The kidnapping issue and other cross border crimes, ’ambitious’ but “The Malaysian financial surge in the domestic direct including the illegal immigrants problem in Sabah has to be ‘can be achieved’ services hub for commercial investment from the same resolved in a holistic manner. This is because the kidnap- and Islamic financial services, period last year. ping case is linked to people who are already in Sabah,” he by ALEXANDER WINIFRED the development of tourism Foreign investors spent said in a statement in Kota Kinabalu yesterday. Jahid also infrastructure such as hotels RM10 billion to contribute described Wong’s remarks against ESSCom officers as THE federal government, and resorts, and urban devel- 17.4% to the total figure. unwarranted, malicious and politically motivated, saying through the Ministry of Inter- opments of commercial prop- The government’s efforts in the DAP leader’s claims were nothing more than a political national Trade and Industry erty, retail malls and office attracting investors to set up stunt. “I was made to understand that some DAP assembly- (MITI), has set an “ambitious” parks in the four growth cities manufacturing and service men had called on ESSCom and were given a warm wel- RM1.45 trillion investment tar- identified in the 11MP are industries have “created tens of come and briefing by the ESSCom commander himself, get as part of its 11th Malaysia some of Malaysia’s strategic thousands of job opportunities other than being given his contact number. Yet the Sabah Plan (11MP). growth industries that offer for Malaysians,” said Mustapa, DAP leader had chosen to shame ESSCom through the Malaysia’s target investment attractive long-term opportu- who also invited six Malaysian social media.” Jahid urged the police and Malaysian Anti per year during the 10MP was nities for both local and inter- employees from various multi- Corruption Commission to obtain a verification from Wong RM148 billion per annum with national investors,” said Rajiv. national firms as part of his on his statement about ESSCom. He also said Wong should a growth rate of 12.6%. The Malaysian Investment Pic by Muhd Amin Naharul presentation yesterday. be specific in his allegations about ESSCom with regard to MITI Minister Datuk Seri Development Authority out- the services industry in the Mustapa said the Negri the integrated operations it led involving various agencies Mustapa Mohamed said performed its 2015 growth tar- period. The figures come Sembilan state government has including Immigration and Customs. — Bernama Malaysia had managed to get in its first-quarter (1Q), despite the World Bank’s lower been very forthcoming in its exceed that target and attract approving RM57.4 billion in growth forecast for the Malay- support for the 108,000ha ▶ Pelagus state assemblyman in critical condition RM162 billion every year from investments in 797 projects — sian economy this year accord- Vision Valley, a massive PELAGUS state assemblyman George Anak Lagong, 55, is 2010 to 2015, for a total invest- largely driven by approvals for ing to Mustapa. 30-year project that will have a now in a stable though still critical condition at the Intensive ment of RM810 billion. Petroliam Nasional Bhd’s The World Bank, which con- gross development value of Care Unit of the Sibu District Hospital after an accident at The ministry has now set its Refinery and Petrochemical siders Malaysia an advanced RM640 billion. Sebangkoi, about 10km from Sarikei town, around 4pm on eyes on higher investment tar- Integrated Development com- high-income economy, has The Vision Valley will be a Sunday. According to his brother-in-law Nelson Janting, gets for the five-year 11MP but plex in Pengerang, Johor. slashed its 2015 growth fore- new regional growth corridor George was accompanied by his wife Sumi Janting, 50, and said growth figures will see a Between this and last year, cast for Malaysia’s economic for investors coming in and two sons when he lost control of his four-wheel-drive, and slight decline during the same the ministry has approved growth to 4.7% from an earlier seeking a suitable location for it plunged into the ravine. “George sustained serious head period. RM39 billion in investments for 4.9% on expectations of slower operational activities, said the injury while his wife and one son suffered slight injuries. From 2016 to 2020, MITI will the RM60 billion RAPID com- export growth and invest- minister. The other son escaped injury, though shaken,” he said when attempt to attract RM291 bil- plex, and expects to approve ments in the oil and gas indus- “The Klang Valley is almost contacted in Sibu yesteday. He said Sumi and her son were lion in investments every year around RM20 billion more later try as well as a moderation in full and prices of land have then taken to the Sarikei District Hospital for treatment with a slightly lower growth this year and next year for the private consumption next also increased,” said Mustapa. while George was sent by ambulance to Sibu, where he rate of 9.4%. downstream project. year. A few companies have underwent a four-hour surgery upon arrival. — Bernama The new targets are “ambi- Petroleum, petrochemicals “Malaysia’s investment per- already set up manufacturing tious” but can be achieved, says and electrical and electronic formance reflects the faith of bases in the valley in the Sen- GENERAL NEWS IHS Asia Pacific chief econo- products accounted for RM29.5 investors in Malaysia as an dayan Industrial Area, includ- mist Rajiv Biswas (picture). billion or 87.8% of the total attractive investment destina- ing carmakers Perodua and Rajiv believes the RM1.45 approved investments in the tion and the country’s ability to Daihatsu, parts maker Akashi ▶ Mohd Saiful withdraws suit against Anwar trillion target will require manufacturing sector for the 1Q. hold its own in an increasingly Kikai, and Safran Messi- MOHD Saiful Bukhari Azlan, the former aide of Datuk Seri “very dynamic and sustained Investors poured RM33.6 competitive environment,” er-Bugatti-Dowty, a manufac- Anwar Ibrahim, has withdrawn a RM50 million suit against efforts” by the Malaysian gov- billion into the manufacturing Mustapha said. turer of aircraft landing and the former Opposition leader, who is serving time for sodo- ernment to work with inves- sector and RM22.3 billion into Malaysians invested RM47.4 braking systems. mising him, because he could not afford the legal fee. Cur- rently an insurance agent, Mohd Saiful said despite having a strong case, the legal process could be lengthy sometimes as it could go on to the appeal level at the Federal Court. “I How is Thailand’s economy faring? do not have the means to pay the legal fee to wait for the long process. I have had to mortgage my property, as well as spend so much time, going up and down the court. Seven by FUNDSUPERMART weakening exports and slug- levels, Thai households have nies tends to drive the perfor- years is enough for me to go through the legal process, ” he RESEARCH gish domestic demand. continued to be cautious on mance in stock markets and said in a press statement obtained from his lawyer, Zamri Exports growth, since the their spending and this has led stock prices tend to track the Idrus. “I wish to affirm that with this decision (to withdraw AFTER months of political start of the year, has been dete- to a subdued domestic con- growth of corporate earnings the suit), it does not mean that I am withdrawing the content unrest last year, the political riorating due to the significant sumption. over the long term. of the police report I made against Anwar,” he added. Mohd situation in Thailand has reductions in the exports of The fall in farmers’ dispos- However, this is not the case Saiful, 30, filed the suit on June 23 last year, citing trauma somewhat stabilised. agricultural products. able incomes has also contrib- for Thailand’s equity market. and agony since 2008 as a result of being sodomised by The recovery of South-East Drought in certain prov- uted partly to the sluggish con- The SET Index has rallied Anwar. — Bernama Asia’s second largest economy, inces and subdued demand sumer spending. despite the cut in the earn- however, remains sluggish from major trading partners, The Thai consumer confi- ings forecast of index linked ▶ Govt plans to abolish visa for China tourists with the kingdom’s economic coupled with the decline in dence index has declined con- stocks with current market THE government is looking into the possibility of abolish- growth lagging behind most of price of widely grown crops secutively for four months, valuation higher than its ing visa for tourists from China in a bid to woo more of its Asian peers. such as rice and rubber, have from a recorded reading of 81.1 10-year historical average as them to Malaysia.
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