China real estate tycoon to invest in Malaysia

  • Business
  • Thursday, 03 Nov 2016

BEIJING, Nov 2 -- Prime Minister Datuk Seri Najib Tun Razak and his delegates taken on a conducted tour of The Gu'an Exhibiton Hall, Wednesday. He was being briefed by President of China Fortune Land Development Co Ltd (CFLD), Jerry Zhao (left). --fotoBERNAMA (2016) COPYRIGHT RESERVED

BEIJING: Prime Minister Datuk Seri Najib Tun Razak said the founder and chairman of China Fortune Land Development Co Ltd (CFLD), Wang Wenxue, has agreed to invest in Malaysia.

He said this was expressed by Wang in a meeting with him recently. 

“I’ve discussed with the owner of Gun New Industry City. He is one of the richest entrepreneurs in China and his investment in Gun has exceeded US$25bil (RM104.7bil),” he told Malaysian reporters in Beijing on Thursday.

Najib, who is also Finance Minister, said he was keen to woo Wang to invest in Malaysia and bring the latest technology, which was still under development by his company and has not been marketed, to Malaysia.  

“This is because the technology developed by this company, especially in Gun New Industry City, has vast potentials,” he said.

CFLD is currently transforming its Gun New Industry City into a Global Technology Centre in collaboration with Tsinghua University, Peking University and the Zhongguancun Science and Technology Park.

Najib, who visited the industry city on Wednesday, was attracted to the research and development (R & D) being carried out at the city, which was built in 2002 into an international industry development powerhouse with the focus on five industry clusters -- aerospace, biomedical, high-end equipment manufacturing, e-commerce and modern services industries. 

Najib was taken to view the 6th generation AMOLED display technology developed by CFLD in cooperation with Tsinghua Visionox and Govisionox Optoelectronics Co Ltd.

Last June, CFLD entered into a comprehensive cooperation with the Tsinghua OLED team and Visionox, to jointly promote the independent AMOLED technology industrialisation.

The project is the company’s first major venture in the international arena of new display technology with a total investment of US$4.4bil (RM18.4bil), of which US$4.2bil is for production lines and US$221mil in the next generation display R & D centre.

The company’s registered capital for this project is US$2bil (RM8.4bil) and is expected to fully operational by June 2018, producing 30,000 1500 mm x 1850 mm design panels monthly - Bernama

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