Published January 22, 2009

M'sia, Qatar to set up US$1b investment fund

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(DOHA) Malaysia and Qatar have agreed in principle to set up a US$1 billion investment fund for mutual investment, Foreign Minister Rais Yatim said.

He said details of the fund will be finalised at a meeting between Prime Minister Abdullah Ahmad Badawi and his Qatari counterpart Sheikh Hamad bin Jasim bin Jabir Al-Thani.

Among matters to be fine-tuned are the type of projects and where the projects are to be implemented, he told journalists covering Mr Abdullah's two-day visit to Qatar.

Dr Rais said the fund would be shared on a 50:50 basis. He also said Sime Darby Bhd, has clinched a contract in Qatar to build an oil platform costing RM1 billion (S$415.8 million). - Bernama