Over 100 Business-Matching Sessions At Idb Investment Forum 2012

KUALA LUMPUR, April 18 (Bernama) -- Over 100 business-matching sessions are to be held during the three-day Islamic Development Bank (IDB) Group's Investment Forum 2012 beginning May 9 at a leading hotel here. International Trade and Industry Minister Mustapa Mohamed said the forum would provide investors and entrepreneurs from IDB-member countries a platform to meet and explore cross-border business prospects and partnerships. "Through this forum, companies can establish business relations with their counterparts from IDB-member states. "In addition, the forum will also pave the way for the companies to bring their businesses to new levels," he told reporters after officiating at the soft launch of the forum Tuesday. Mustapa said the forum is also expected to enhance economic collaborations among the Organisation of the Islamic Cooperation-member nations and provide participants greater exposure on global business conditions through talks by a panel of experienced speakers. The minister said the forum themed "Forging Strategic Business Partnership between Malaysia and the IDB Member Countries" is expected to attract 500 local and foreign participants. Among programmes arranged at the forum besides the talks are briefings, presentations and exhibitions hosted by the public and private sector organisations and officials. On another development, the Jeddah-based IDB is expected to issue RM400 million (US$131 million) worth of Sukuk (Islamic bonds) this year to finance infrastructure projects at Iskandar Malaysia in Johor stare and build highways. However, the definite date for the sukuk issuance has not been decided as the IDB was awaiting approval from Bank Negara Malaysia (Malaysia's central bank). IDB Operations Manager for Southeast Asia Ahmed Saleh Hariri said the bank is also expected to issue a US$500 million sukuk to fund development projects in Indonesia this year. The proposal is also awaiting approval from the republic's central bank, he added. -- BERNAMA