M’sian, Chinese firms sign agreements worth RM144bil

Malaysia's Prime Minister Najib Razak and China's Premier Li Keqiang attend a signing ceremony at the Great Hall of the People, in Beijing, China, November 1, 2016. REUTERS/Jason Lee

BEIJING: Malaysian and Chinese companies made history on Tuesday with the signing of 14 agreements worth RM144bil.

Prime Minister Datuk Seri Najib Tun Razak said the amount was the biggest ever recorded in conjunction with his official visit overseas, and it was a historic achievement.

“My official visit to China this time has brought very encouraging results and this achievement brings the bilateral relations between Malaysia and China to a higher level, a new high,” he told Malaysian journalists in Beijing on Tuesday.

Najib, who is on a six-day official visit to China beginning Monday, had witnessed the exchange of 14 business arrangements with proposed investments estimated at RM143.64bil held at the Malaysia-China Business Forum here on Tuesday.

The agreements and memoranda of understanding comprise: 

1. Engineering, procurement, construction and commissioning agreement between Malaysia Rail Link Sdn Bhd, China Communications Construction Co Ltd (CCCC) and China Communications Construction Company (M) Sdn Bhd (CCCCM).

2. Memorandum of agreement for investment, development and construction of Melaka Gateway Project (KAJ Development and Power China).

3. Heads of agreement between Bandar Malaysia Sdn Bhd and Greenland Holdings Group Overseas Investment Co Ltd in respect of the proposed purchase of land and development thereon in Bandar Malaysia.

4. Heads of agreement between Selat PD Sdn Bhd and CCCC Dredging (Group) Co Ltd. 

5. Framework cooperation agreement between the State Government of Sarawak, Hebei Xinwuan Steel Group and MCC Overseas Ltd on the proposed development of steel plant in Sarawak.

6. Memorandum of agreement between KAJ Development Sdn Bhd, Power China, Shenzhen Yantian Port and Rizhao Port for partnership collaboration on Melaka Gateway Port.

7. Heads of agreement for the Bandar Malaysia financial scheme between IWH CREC Sdn Bhd and Industrial and Commercial Bank of China (ICBC).

8. Memorandum of understanding between East Coast Economic Region Development Council (ECERDC) and Wuxi Suntech Power Co Ltd for production of crystalline silicon solar cells and module within the Malaysia-China Kuantan Industrial Park.

9. Memorandum of agreement between BHS Industries Bhd and China Nuclear Huaxing Construction Co Ltd for Green Technology Park in Pekan, Pahang. (For this story, click here)

10. China Construction Bank (M) Bhd was granted a banking licence by the Minister of Finance under the Financial Services Act 2013. With an initial paid-up capital of US$200mil, China Construction Bank will be able to provide infrastructure financing to support Malaysia’s infrastructure development.

11. Memorandum of understanding between Yanming Resources Sdn Bhd and Fuzhou Xin Zibu Culture Communication Co Ltd for the growth and development of bird’s nest market in China.

12. Memorandum of understanding between Malaysia External Trade Development Corp (Matrade) and Alibaba.com.

13. Research and development collaboration agreement between Royal Bird’s Nest, Walet Company-International Private Ltd Co and Peking University on standardisation of edible bird’s nest extract and medical properties for pharmaceutical drug discovery.

14.Memorandum of understanding between Aladdin Group Sdn Bhd and Suzhou Lian Cheng Yihao Information Technology Co Ltd. - Bernama

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3

Next In Business News

GLOBAL-LNG-Asian spot prices hit $10 on global supply disruptions
With superheroes and sci-fi, Disney+ outlook bright
Picasso oil painting sells for over US$100mil at New York auction
Oil prices jump as major US fuel pipeline restarts but COVID concerns cap gains
GLOBAL MARKETS-US and world stocks surge in recovery; dollar, bond yields dip
Growing Port Klang for years to come
All about the largest port in Malaysia
Human error and shaky grid spark new global-chip supply concerns
Grab’s SPAC vehicle Altimeter near record low
Singapore stocks tumble as strict virus curbs return

Stories You'll Enjoy