RM10 billion investment into Malaysia within 10 years by CPCG
Forget all those perceptions of Malaysia’s relationship with China. Chinese companies still love Malaysia and will continue to invest here. As usual, the more investments coming into Malaysia, the more will be the demand for properties too. This is especially if the professionals employed in these companies are the highly skilled ones. Let’s understand that highly skilled professionals are well remunerated because they could choose to work anywhere in the world and not necessarily Malaysia.
Latest news in TheStar: A top 100 company in the 2018 Fortune Global 500 nonetheless. China’s Pacific Construction Group Ltd (CPCG)’s founder Yan Jiehe said Malaysia “is business friendly, and one of the most competitive countries in the region”. He has plans for a RM10bil investment over 10 years in areas including infrastructure development and hi-tech machinery. He said, “The country’s fundamentals are strong. You have excellent infrastructure, a robust eco-system and a big pool of trilingual talents. Kuala Lumpur, is thus, a strategic launch pad for our expansion into Asia Pacific.”
Yan also added, “With our track record of having successfully delivered complicated construction projects in China, we are confident that, in collaboration with local partners, we will be able to do the same in Malaysia.” It has set up CPCI Holdings Sdn Bhd (CPCI), a wholly-owned subsidiary in Kuala Lumpur as its regional technical competency centre. CPCI is involved in a RM200mil construction project in Sahabat, Sabah. Yan added that they are planning to employ 150 highly skilled professionals of which HALF will be Malaysians as they will be positioning CPCI as a major player across the Asia Pacific region. With CPCI, the group would be able to optimise its operations by centralising its regional decision making and key activities in Kuala Lumpur including accounting, strategic business planning, business development, bid and tender management, as well as engineering services.
CPCI plans to set up business schools and universities, and provide scholarships to local students. As a start, 500 scholarships for construction and engineering students will be provided. CPCG had a total revenue of RM319bil and it is the biggest private-owned construction company in the world. Full article in TheStar here. Happy following.
written on 12th Oct 2018
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