Malaysia Still A Preferred Investment Destination In Asean Despite Challenges

From Nor Baizura Basri DAVOS (Switzerland), Jan 22 (Bernama) -- Despite facing challenges like the weakening of the ringgit and falling oil prices, Malaysia still remains a preferred destination among foreign investors which bodes well with its agenda as Asean chairman. With the country's aim to raise its profile as the gateway to Asean, Davos is an ideal platform for the business community to explore opportunities as many Malaysian companies have achieved success following their participation at the World Economic Forum (WEF). Khazanah Nasional Bhd managing director Azman Mokhtar said Davos is the place where many successful deals had been mooted and explored, including that of the Integrated Healthcare Holdings and initial steps to turn Malaysia Airports Holdings Bhd into a major player in the Turkish airport management. "Over the years, this is the place where many Malaysian companies have explored business opportunities and made important deals and transactions. "With more than 2,800 participants at WEF this year, about 60 to 70 per cent represented by the business community, it creates ample opportunities for future investment," he told Malaysian journalists on the sidelines of the 45th WEF here Wednesday. Azman said international business players here were taking advantage of Malaysia's leadership in Asean to realign their investment plans in the region so that they could be more participative amid concerns of lower global economic growth. "I think absolute and relative characteristics of Malaysia as an investment destination is actually strong. Davos is a good platform to promote the country's potential not only in sustaining current investment but also to lure new investors," he said. He said foreign and Malaysian companies would get an insight into the country's economy and long-term opportunities at a business luncheon jointly organised by Khazanah Nasional, InvestKL and Malaysian Investment Development Authority here Thursday. About 100 corporate leaders, including 39 from Malaysia have confirmed their attendance at the luncheon. Foreign captains of industry are from 55 companies, including General Electrics, Barclays, Bata, Huawei, Lippo Group, Hyatt Hotel and Ernst & Young. Prime Minister Najib Razak is expected to brief them on Malaysia's current economic development and financial position and measures to sustain growth. On Malaysia's economic condition, Azman said Malaysian companies should not be unduly worried over the situation, instead they should take proactive measures to support the pre-emptive measures laid out by the prime minister. "Khazanah Nasional is committed and ready to support (the measures) through domestic direct investments," he said. Azman said Malaysia's model of collaboration between the private and public sectors over the years would be highlighted as success stories during the luncheon. On whether the future of the Malaysian aviation industry will be discussed at the luncheon, he said Etihad and Emirates top officials had asked whether there were areas that they could work on during a casual meeting. Among Malaysian top corporate guns attending the WEF are Axiata president and group chief executive officer Jamaludin Ibrahim, CIMB Group Holdings Bhd chairman Nazir Razak, AirAsia Group chief executive officer Tony Fernandes, and UEM Group chairman Dr Ahmad Tajuddin Ali. WEF, which kicks of Wednesday until Jan 24, sees the participation of more than 40 world leaders as well as 2,800 business leaders, economists and social activists to deliberate on strategies in moving forward under the theme 'New Global Context'. -- BERNAMA