KUALA LUMPUR: AmBank Group has approved RM718 million in financing for Asus Advanced Technologies (Malaysia) Sdn Bhd, a wholly owned subsidiary of China Vital Technology Group, to support a new manufacturing plant in Kulim Hi-Tech Park, Kedah.
In a joint statement, AmBank and China Vital said the financing is part of AmBank’s Foreign Direct Investment Desk initiative, which supports Chinese investors operating in Malaysia.
"The financing will support the establishment of the company’s new manufacturing plant, which is expected to begin operations in 2028 and create opportunities for local businesses as well as new employment for Malaysians,” they said.
The parties added that AmBank has partnered with Sinosure, a state-owned Chinese export credit insurer, to support the initiative.
"This partnership further strengthens the bank’s role in promoting cross-border financial cooperation and reinforces its position as a trusted partner for international investors,” they said.
AmBank is also collaborating with other major Chinese banks in Malaysia, including China Construction Bank, Industrial and Commercial Bank of China, and Bank of China, to offer financial solutions tailored to Chinese clients’ business development needs.
AmBank managing director of business banking Christopher Yap said the partnership reflects the bank’s commitment to supporting Malaysia as a destination for foreign direct investment, particularly from China.
"Through collaborations like these, we aim to foster stronger economic ties, drive industrial growth, and create sustainable opportunities for both nations,” he said.
Meanwhile, China Vital co-president Zhenfu Hou said the group chose Malaysia for its largest manufacturing base outside China due to close bilateral ties, ease of doing business, industry clusters, and bilingual talent availability.
"From this base, we will not only support our customers in solar and semiconductor businesses in Malaysia, but also provide world-leading materials and devices to global customers, thanks to the support from AmBank and Sinosure,” he added. - Bernama
