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Malaysian mid-tier companies are looking at the Philippines as their “go-to” market for investments in energy, automotive, building construction materials and food.
Sharimahron Mat Saleh, deputy chief executive officer of Malaysia External Trade Development Corp., said Starken AAC Sdn Bhd, one of the select companies taking part at the Market Immersion Mission to the Philippines until Thursday, eyes to strike a deal with local counterparts for the manufacture of pre-cast concrete as soon as they identify sources of raw materials.
Sharimahron said Starken and other Malaysian firms are keen on the Philippines’ Build, Build, Build infrastructure promoting their expertise in four areas of construction: underground infrastructure work; building infrastructure management; pre-cast construction and integrated building system and facility management on energy savings.
Mid-tier companies are those classified as having annual revenues of at least $12 million.
Other companies in the mission are Lubetech Sdn Bhd, MMK Spices Sdn Bhd, Life Water Industries Sdn Bhd, Plus Solar System Sdn Bhd,
Sharimahron said Malaysia is the Philippines ‘ fourth largest investor.
Total approved investments stood at $69 million in the first half of the year, surpassing the $9.4-million registered in the whole of 2017.
Among the major Malaysian investors present with the Philippines are Shangrila, Genting, Petronas, Berjaya, Alloy MTD and AirAsia.
Total trade between the two countries for January to September is $4.79 billion with trade in favor of Malaysia whose exports amounted to $3.1 billion during the period. |
