China’s Nine Dragons Paper to invest RM5.4b in paper mill, factory

Third From left is Nine Dragons Paper (Holdings) Ltd chairlady, Cheung Yan with Prime Minister Tan Sri Muhyiddin Muhammad Yassin. First from left is Nine Dragons Paper PR and admin director Isabel Kow Soek Foon and deputy CEO Zhang ChengFei. Second from right is Senior Minister, Minister of International Trade and Industry Datuk Seri Mohamed Azmin Ali and MIDA CEO Datuk Azman Mahmud.

KUALA LUMPUR: China’s Nine Dragons Paper (Holdings) Ltd will invest up to RM5.40bil, involving the acquisition of a mill, and a factory to focus on paper products in Malaysia, endorsing the country’s attractive investment environment and business friendly policies.

The Malaysian Investment Development Authority (MIDA) and the Hong Kong-listed Nine Dragons said in a joint statement on Tuesday the first manufacturing plant -- ND Paper (Malaysia) Sdn. Bhd. in Bentong, Pahang – involves acquiring an existing pulp and paper mill with total investment value of RM1.2bil.