Industry News

Malaysia, China sign three MOUs worth nearly RM20bil

Malaysia and China have inked three memoranda of understanding (MOUs) worth RM19.84bil.

The first MOU, worth RM15bil, was inked between Citaglobal Bhd and Shanghai Sus Environment on exploring the potential collaboration for developing waste to energy power plants primarily in Malaysia.

The second MOU worth RM2.34bil was signed between PM Access World and Beibu Gulf International Port Group, which will be on warehousing and logistics cooperation between the two companies in supporting the New International Land-Sea Trade Corridor to promote economic and trade cooperation between Guangxi and Malaysia.

The last MOU, worth RM2.5bil, was inked between Sime Darby Oils International Limited and Guangxi Beibu Gulf Port Group to build a trading and distribution centre for refined palm oil and shortening in Qinzhou, with an estimated annual transaction volume of 500,000 tonnes.

The signing of the MOUs was witnessed by Prime Minister Datuk Seri Anwar Ibrahim, who was accompanied by Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz, Deputy Agriculture and Food Security Minister Chan Foong Hin, Local Government Development Minister Nga Kor Ming and Deputy Foreign Affairs Minister Datuk Mohamad Alamin.

Anwar is currently in Nanning, China, for a one-day working visit to the 20th China-Asean Expo (CAExpo) and the China-Asean Business and Investment Summit (Cabis).

Anwar is expected to deliver a press conference in Nanning after separate closed-door meetings with the China Communications Construction Company (CCCC) and Huawei, respectively.

The Prime Minister will return to Kuala Lumpur on Sunday (Sept 17) to attend the ongoing Parliament session on Monday (Sept 18).


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