PUTRAJAYA
(June 11): Finance Minister Lim Guan Eng pointed out that Japan Nomura
Securities identified Malaysia as the fourth largest US-China trade war
contributor after Vietnam, Taiwan and Chile.
“This
shows that Malaysia is a “safe haven” for global supply chains.”
He
said that in view of Malaysia's good relations with all parties, strategic
location, large infrastructure, multilingual society, young and promising
workforce, strong rule of law, protection of intellectual property rights,
stable political environment and responsible and transparent government,
Malaysia can effectively play its role in the supply chain.
He
mentioned that it is not just foreign investors who have confidence in the
Malaysian economy. The global consumer confidence survey shows that Malaysia’s
global consumer confidence index (CCI) in the first quarter of this year scored
115 points, an increase of 11 points over the same quarter last year.
He
reiterated that Malaysia's foreign direct investment (FDI) in the first quarter
of 2019 achieved good results, compared with RM16.9 billion in the first
quarter of last year, which was 73.4% in the first quarter of this year.
Lim
Guan Eng said in a speech at the signing ceremony of the equity agreement
between Japan Overseas Infrastructure Investment Corporation for Transport
& Urban Development (JOIN) and TASCO Berhad on Tuesday at the Japan
Overseas Transportation City.
Participants
included Japan Ambassador to Malaysia, Makio Miyagawa, TASCO Berhad Executive
Chairman Lee Check Poh, Chief Executive Officer Lim Jew Kiat, JOIN Managing
Executive Officer Noriyoshi Torigoe and JOIN Director Rikiya Kanamori
In
addition, Lim Guan Eng pointed out that JOIN's investment shows that they have
confidence in the policy of the Malaysian government. At the same time, he
hopes that more Japanese companies will come to invest in China in the future.
He
said that Malaysia welcomes any foreign investment, especially from Japan,
because it can improve the skills and salaries of local employees and increase
the competitiveness of the Malaysia economy through the application of
technology.
"Maybe
JOIN can invest in our medical field in the future. I believe the ambassador (Makio
Miyagawa) is working hard to make this happen."
He
also said that JOIN's investment will bring benefits to China's cold chain
field.
“With
its global network and its direct relationship with the largest companies in
Japan, JOIN can be a bridge for Malaysia to enter the international market.”
He
pointed out that this not only provides better logistics links, but also
provides a platform for local companies to gain international influence,
thereby benefiting from trade diversion and a changing global supply chain
landscape.
JOIN
invested RM125 million to subscribe for a 30% stake in its wholly-owned
subsidiary, TASCO Yusen Gold Cold Sdn Bhd (TYGC), to expand its cold chain
business.
JOIN
was established in Japan in 2014 to support and promote Japanese companies'
participation in the global infrastructure market. Japan’s Ministry of Finance
holds an 87.9% stake in JOIN, and its shareholders are made up of a number of Japanese
companies.
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