Kuala Lumpur: The Ministry of Trade and Industry (Miti) has achieved an additional Foreign Direct Investment (FDI) of RM13 billion from three investors through its investment mission to Singapore.
Minister Tengku Datuk Seri Zafrul Abdul Aziz (Pix) said Sea Ltd, Yondr Group and INSEACT have jointly committed to invest RM13 billion in Malaysia.
These investments are expected to be operational within the next three years, said Tengku Zafrul, who led the mission during Prime Minister Datuk Seri Anwar Ibrahim’s recent visit to Singapore.
The accumulated value of RM13 billion reflects Malaysia’s attractiveness as an investment destination, he added.
“This is also a testament to Malaysia and Singapore’s longstanding mutually beneficial relationship in trade and investment,” he said in a statement here today.
Mitsui intends to grow and strengthen this special relationship in building the resilience of their respective industries’ supply chains, especially given cooperation in the digital and green economy, the minister added. .
shopper
Sea Ltd, the parent company of Shopee and the largest pan-regional e-commerce platform in Southeast Asia and Taiwan, has pledged to expand its investment in Malaysia and create more than 2,000 job opportunities. The company plans to set up cloud services, data hosting and processing, and a new e-commerce logistics warehouse in the country.
Youngdol Group
Another investor is Yondr Group, a global leader in data center development and operations headquartered in the UK. Yondr Group, which has supplied over 500MW of his global to major hyperscale clients, entered the Malaysian market in Johor where he acquired 75 acres of land and built 300MW of his IT load hyperscale data center in his Developing campus.
The Johor deployment is expected to be the largest hyperscale data center campus in Southeast Asia and will be a key part of Malaysia’s growing digital ecosystem, Miti said.
insect
A third company, INSEACT, is a Singapore-based alternative protein company specializing in insect proteins for aquaculture feed. We plan to establish a production facility in Johor, which will be our first in Southeast Asia. The company’s unique approach to alternative protein production has the potential to meet Asia’s growing demand for sustainable food sources.
“We are determined to prove to investors that Malaysia supports trade, business and investment.
“Its institutions like Miti and Mida (Malaysia Investment and Development Board) are high-quality, strategic and sustainable investments that not only grow GDP and promote the development of the local digital economy, but also create new employment opportunities for people. We will continue to pursue possible investments,” continued Tengku Zafrul.
The investment mission, attended by senior officials from Miti and Mida, is an important milestone in realizing Malaysia’s goal of becoming a high-tech and global innovation hub with a resilient and sustainable investment ecosystem. – Bernama
