Malaysian Infrastructure Companies Need To Venture Into South Asian Market - Samy Vellu

By Nur Syuhada Shamsudin and Balqis Jamaludin KUALA LUMPUR, Feb 15 (Bernama) -- Malaysian infrastructure development companies should be open-minded and courageous to explore opportunities in the South Asian market. Malaysia's Special Envoy to India and South Asia on Infrastructure S. Samy Vellu said most countries in the region still needed external expertise for their infrastructure development. "This is my advice. Many Malaysian companies feel that they don't have to go abroad as there are many projects in Malaysia, (but) there will come a day when all infrastructure projects in Malaysia are completed, then where will they go? "So, seize the opportunities in South Asian countries now when the demand is still there. Don't wait until these countries become developed like Malaysia, then they will no longer need our expertise or participation," he told Bernama in an interview here recently. Samy Vellu said local companies could venture into infrastructure projects such as roads, power plants, housing, as well as renewable energy -- a new sector that has been undertaken by Tenaga Nasional Bhd (TNB). Calling on local companies not to expect financing from customers or the government of the respective countries when starting a project, he said: "They should look for their own financing either through bank loans or joint ventures with other companies." Samy Vellu said his role was to offer advice and assist Malaysian companies in expanding their businesses to India, Pakistan, Sri Lanka, Bangladesh, Nepal, Bhutan, and the Maldives. "Since 2011 when I was appointed to this position, several Malaysian companies have submitted proposals for projects in South Asia, either through government-to-government cooperation or public-private partnership," he said. Samy Vellu said the opportunities for Malaysian companies to penetrate the market was wide open due to the confidence placed in the Malaysian government in carrying out various infrastructure projects in the region. Among the projects include the US$2 billion (RM8.88 billion) power plant project in Bangladesh to be carried out by TNB and 10,000 low-cost housing units worth US$67.37 million (RM300 million) in Sri Lanka. "Malaysia was also shortlisted to undertake a petroleum pipeline project in Sri Lanka worth US$40 million (RM177.6 million) recently. "Malaysia has also collaborated with India in the construction of a regasification terminal in the state of Andhra Pradesh with Petronas supplying gas for the project," he said. As Malaysia has built international standard infrastructure facilities, he said it is willing to share its experience and expertise with India and other South Asian countries. --BERNAMA