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MNC to make mammoth investment in Iskander Malaysia

An undisclosed multinational company invests US$60.36 million in Iskander Malaysia. According to the sources the multinational company specializes in the distribution of tropical vegetable oils and their derivatives, the company is also believed to have extensive experience in outsourcing and distributing of products with offices in Europe and United States. The company has chosen to invest in Iskander Malaysia due to its proximity to Singapore and the progress in the economic region.

A multinational company specialising in the distribution of tropical vegetable oils and their derivatives, has expressed interest to invest MYR250 million ($60.36 million) in Iskandar Malaysia, according to the Johor Tourism, Domestic Trade and Consumerism committee. Committee chairman Tee Siew Kiong said the Europe-based company, with its head office in Singapore, plans to set up its operations in the Southern Economic Corridor in peninsular Malaysia.
 
“The investment could be realised by this year or in the first quarter of next year,” he told a press conference after opening D’ Elegance Hotel in Taman Nusanatara last Friday. Kiong, however, declined to reveal the name of the company and the location of the plant in Iskandar Malaysia.
 
The multinational company has extensive experience in outsourcing and distributing products with offices in Europe and the United States, it was reported by local media. The rationale behind investing in Iskandar Malaysia was the state, Johor’s close proximity to Singapore and the progress in the economic region.
 
Kiong said the Johor business delegation met with the representatives from the company in Milan, Italy during a trip there with Prime Minister Razak recently. “Johor has the right ecosystem to continue attracting global companies to set up their operations especially in Iskandar Malaysia,” he added.

Source : Deal Street Asia

 

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