Australian companies keen to invest RM24.5bil in Malaysia, says PM

MELBOURNE: Major Australian companies have shown interest in investing up to RM24.5bil in Malaysia, including expanding existing investments, says Prime Minister Datuk Seri Anwar Ibrahim.

Anwar, who is also Finance Minister, said this was expressed to him during his meeting with more than 20 Australian companies in Melbourne on Tuesday, the second day of his official visit to Australia.

Among the potential investments are from data centre operators AirTrunk and NextDC which plans to spend about RM11bil and RM3bil respectively, he said.

Mining firm Lynas is also keen to invest a further RM1bil while other companies that are potential investors include Fortescue, Macquarie Group and Arnott's Group, Anwar said.

"This is an achievement to be proud of, it shows Australia's interest and their confidence in the policies we have announced," he told the Malaysian media here, adding that these potential investments would create jobs for about 1,200 skilled workers in Malaysia.

The amount of potential investments exceeds an earlier estimate made by the Investment, Trade and Industry Ministry and Malaysian Investment Development Authority (Mida), he said.

In terms of trade, Anwar said, Malaysia has recorded potential export sales of over RM900mil to Australia, consisting of products such as urea, timber, food and electrical components, in conjunction with his visit.

He added that the government has made efforts to clarify any concerns or doubts in order to give Australian investors and businesses confidence in Malaysia's prospects. – Bernama