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Final KF China Report Design Singlepage CHINESE CORRIDORS inMALAYSIA CHINESE CORRIDORS CHINESE CORRIDORS 2 IN MALAYSIA 2 IN MALAYSIA KEY TAKEAWAYSKEY TAKEAWAYS • China's Belt and Road Initiative• China's (BRI), Belt launched and Road in 2013,Initiative aims (BRI), to revive launched the in 2013, aims to revive the great Silk Road linking itgreat with SilkEurope Road through linking billionsit with ofEurope dollars throughof billions of dollars of infrastructure investment acrossinfrastructure six economic investment corridors. across six economic corridors. • Over the coming decades,• Over the thedevelopment coming decades, of the builtthe environment,development of the built environment, whether infrastructure or logisticswhether related infrastructure and in the or form logistics of new related townships and in the form of new townships or urban settlements along theor urban Belt Road settlements link, will along be considerable. the Belt Road link, will be considerable. • Malaysia, strategically positioned• Malaysia, along strategically the Belt Roadpositioned link, alongoffers themany Belt Road link, offers many advantages in terms of abundantadvantages resources, in terms good of abundantgrowth potentials resources, and good growth potentials and similarities in culture due tosimilarities historical inties. culture The duecountry to historicalcan be China’sties. The country can be China’s gateway to Asean and beyond.gateway In fact, to Malaysia Asean and has beyond. seen an In upsurge fact, Malaysia of BRI has seen an upsurge of BRI related investments with Chinarelated emerging investments as onewith ofChina its largest emerging foreign as one of its largest foreign investors in recent years. investors in recent years. • In November 2016, the Prime• In November Minister led2016, an entouragethe Prime ofMinister government led an entourage of government ministers and business leadersministers in a visitationand business to China leaders and inrecorded a visitation new to China and recorded new level of of bilateral relationslevel withof of14 bilateral business relations to business with 14 (B2B) business to business (B2B) Memorandums of UnderstandingMemorandums (MOUs) andof Understanding agreements worth (MOUs) RM144 and agreements worth RM144 billion (US$33.8 billion) in variousbillion (US$33.8 areas such billion) as tradein various and investment,areas such as trade and investment, development of technology developmentparks as well ofas technologysupply of goods parks andas well services. as supply of goods and services. • Further to that, another 16• Furthergovernment to that, to anothergovernment 16 government (G2G) MOUs to andgovernment (G2G) MOUs and agreements were also signedagreements and they wereinclude also the signed RM55 and billion they (US$13 include the RM55 billion (US$13 billion) in soft loans by Chinabillion) for the in East soft Coast loans Railby China Link (ECRL) for the andEast also Coast the Rail Link (ECRL) and also the Malaysia-China Kuantan IndustrialMalaysia-China Park (MCKIP) Kuantan in Pahang. Industrial Park (MCKIP) in Pahang. • During the Belt and Road• Forum During held the inBelt Beijing and Roadin May Forum 2017, held another in Beijing nine in May 2017, another nine B2B MOUs with total value ofB2B circa MOUs RM31 with billion total (US$7.2 value of billion)circa RM31 were inked.billion (US$7.2 billion) were inked. • The close ties between the• twoThe countriesclose ties havebetween also theled twoto the countries appointment have also led to the appointment of Jack Ma, founder of China’sof Jack e-commerce Ma, founder giant of China’s– Alibaba e-commerce Group, as giant – Alibaba Group, as Malaysia’s digital economyMalaysia’s adviser indigital late 2016economy and adviserthe subsequent in late 2016 and the subsequent formation of the KLIA Aeropolisformation Digital of theFree KLIA Trade Aeropolis Zone (DFTZ) Digital Park Free in Trade Zone (DFTZ) Park in Sepang, Selangor. The latter,Sepang, Alibaba’s Selangor. first regional The latter, hub outside Alibaba’s China, first regionalwill hub outside China, will be a boost to Malaysia’s e-commercebe a boost roadmap. to Malaysia’s e-commerce roadmap. • China's Zhejiang Geely Holding• China's Group's Zhejiang entry Geely as aHolding strategic Group's partner entry of as a strategic partner of Proton Holdings Bhd (49.9%Proton stake), Holdings may reviveBhd (49.9%the ailing stake), national may carrevive the ailing national car company. Geely which alsocompany. owns Sweden's Geely which Volvo alsoCar Group,owns Sweden's expects toVolvo Car Group, expects to make inroad into the expandingmake South-East inroad into Asia the expandingautomobile South-East market via theAsia automobile market via the partnership. partnership. • Moving forward, China investment• Moving will forward,continue China to transform investment Malaysia, will continue particularly to transform Malaysia, particularly in the manufacturing, construction,in the manufacturing,infrastructure, propertyconstruction, and e-commerceinfrastructure, property and e-commerce sectors. sectors. • Melaka is building the RM12.5• Melaka billion is Kualabuilding Linggi the RM12.5International billion Port Kuala (KLIP), Linggi International Port (KLIP), financed by belt-road funds financedfrom China. by belt-roadChinese investorsfunds from and China. contractors Chinese investors and contractors are also involved in the buildingare also ofinvolved the RM8.9 in the billionbuilding Gemas-Johor of the RM8.9 billion Gemas-Johor double-tracking railway anddouble-tracking the RM55 billion railway East Coastand the Rail RM55 Link billion(ECRL). East Coast Rail Link (ECRL). The ECRL acts as a land bridgeThe ECRLbetween acts Port as aKlang land andbridge Kuantan between Port Port and Klang and Kuantan Port and other ports along the East Coastother ofports the alongpeninsula. the East The Coast improvement of the peninsula. of the The improvement of the local infrastructure with thelocal involvement infrastructure of the with Chinese the involvement will strengthen of the Chinese will strengthen economic, cultural and diplomaticeconomic, relations cultural between and diplomatic both nations. relations between both nations. • In the southern state of Johor,• In thethe southernon-going stateUS$100 of Johor, billion the ‘eco on-going city’ project US$100 billion ‘eco city’ project known as Forest City, is billedknown as the as nextForest ‘Shenzhen’. City, is billed Launched as the next in 2014, ‘Shenzhen’. Launched in 2014, the mega project consiststhe of megafour reclaimedproject consists islands ofspanning four reclaimed 2,025 islands spanning 2,025 hectares and is being developedhectares by Country and is being Garden developed Pacific View by Country (CGPV), Garden a Pacific View (CGPV), a Allan Sim Allan Sim joint venture between Guangdong-based,joint venture between Hong Guangdong-based,Kong listed Country Hong Kong listed Country Executive Director of CapitalExecutive Markets Director of Capital Markets Garden and local partner, GardenEsplanade and Danga local partner,88 over Esplanadea 20-year Dangaperiod. 88 over a 20-year period. Knight Frank Malaysia Knight Frank Malaysia Despite facing scrutiny due toDespite its behemoth facing scrutiny size and due China’s to its capitalbehemoth outflow size and China’s capital outflow The rise in China’s presenceThe across rise thein China’s Asia Pacific presence region across the Asia Pacific region policy, the project continuespolicy, to progress the project albeit continues at a slower to paceprogress backed albeit by at a slower pace backed by is significant. Malaysia’s strategicis significant. positioning Malaysia’s along the strategic Belt positioning along the Belt its developer’s strong financialits developer’s and construction strong foundations.financial and Itconstruction has just foundations. It has just and Road link promises revolutionaryand Road linktransformations promises revolutionary in transformations in entered its second phase. enteredThe international its second project phase. with The a internationalnewly opened project with a newly opened terms of the country’s realterms estate of landscape the country’s as wellreal asestate landscape as well as sales gallery in Kuala Lumpur,sales targets gallery globalin Kuala investors Lumpur, and targets homebuyers global investors and homebuyers significant infrastructure projectssignificant i.e. infrastructure ports, bridges, projects i.e. ports, bridges, from countries / territories likefrom the countries Middle /East, territories India, likeVietnam, the Middle Thailand, East, India, Vietnam, Thailand, railways, etc., with extensiverailways, participation etc., bywith Chinese extensive firms. participation by Chinese firms. Japan, and Taiwan. Japan, and Taiwan. China also plays a pivotal Chinarole in also developing plays a Malaysia’spivotal role in developing Malaysia’s • China’s capital control may• haveChina’s slowed capital down control the mayinflow have of Chinese slowed privatedown the inflow of Chinesedigital private economy, giving risedigital to rapideconomy, development giving rise of to rapid development of capital for investment purposes,capital and for Malaysiainvestment is nopurposes, exception. and In Malaysia the local is no exception.Malaysia’s In the local logistics and industrialMalaysia’s sector. logistics The andteam industrial at sector. The team at property scene, we now propertysee a trend scene, where we therenow seeare morea trend Chinese where there are moreKnight Chinese Frank Malaysia is readyKnight
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