Malaysians cautious over picking local partners

07/24/2008

A new wave of Malaysian investors would like to bring in fresh capital as new investments in the country but said they were cautious about looking for the “right” business partner, Malaysian Ambassador in Manila Dato Ahmad Rasidi Hazizi said.

Hazizi told reporters there are new groups of Malaysian businessmen who are seriously considering the Philippines as the new site of their future investments.

These companies which Hazizi declined to identify, however, would like to make the right decision in selecting local groups as their future business match.

“They (Malaysian investors) want to come in but they should look for right partner,” Hazizi added.

Malaysian groups are seeking to engage in the areas of mining, finance, services, tourism and including firms interested in palm oil plantation in Palawan, he said.

Even those with existing operations here, are also planning to expand while others are already expanding their businesses, he added.

Hazizi even cited MayBank which has expanded to 45 branches nationwide. Another key Malaysian investments here was the upgrading and rehabilitation works on the 29-kilometer South Luzon Expressway (SLEX) by MTD Capital Bhd.

The project which entails an estimated cost valued at P11.3 billion involves a 30-year concession and scheduled to be completed in March 2009 linking Manila and Port of Batangas.

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