Malaysia loses one tyre maker but wins another

Malaysia's deputy trade and industry minister, Ong Kian Ming(pic), told Reuters that although Prinx Chengshan had gone elsewhere, the country had attracted another Chinese tyre company - Maxtrek Tyres, a subsidiary of Zhaoqing Junhong Corp. Ltd - as well as a paper plant and further Chinese investment.

CHONBURI, Thailand: When trade war tariffs jolted Chinese tyre-maker Prinx Chengshan into speeding up foreign investment plans, the company wound up in Thailand, thanks to that country's relentless courtship.

With an initial investment of $300 million, the company is now racing to build a factory to export tyres to the United States next year, based in a Thai industrial zone reinvigorated by the trade war.