Published June 17, 2009

Investors urged to tap growth regions in M'sia

KL conference lining up policymakers to engage domestic, foreign investors

By LEE U-WEN

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COMPANIES keen to set up shop in Malaysia are being urged to look at three key growth areas - Penang, the Southern Region and East Malaysia.

Mr Yusli: Singles out Penang, Johor, East M'sia as holding potential for foreign investors

These areas, according to the chief of the nation's stock exchange Yusli Mohamed Yusoff, have plenty to offer investors eager to tap the Malaysian market's huge potential.

The Bursa Malaysia chief executive - speaking to reporters in Singapore yesterday ahead of this month's Invest Malaysia conference in Kuala Lumpur - said the two-day, invitation-only event will give domestic and international investors 'a first-hand account of the Malaysian success story'.

Penang is widely known as an electronics hub, while Sabah and Sarawak in East Malaysia are top tourism spots. Johor, meanwhile, is gaining prominence as the much-hyped Iskandar Malaysia project there takes shape.

On the second day of Invest Malaysia there will be a dialogue session with the chief ministers of Penang, Johor and Sabah, during which participants can engage them on various topics.

At the opening of the annual conference on June 30, Prime Minister Najib Razak will make a major policy announcement on the easing of restrictions on foreign investment, Mr Yusli confirmed yesterday.

The widely anticipated announcement comes just after the government completed a review of Foreign Investment Committee (FIC) guidelines, and soon after Mr Najib raised foreign ownership limits at non-commercial banks, while allowing more overseas lenders into Malaysia for the first time in over 10 years.

Mr Yusli said yesterday: 'We expect him to make some significant announcements in line with his liberalisation and transition reform agenda. The FIC review is going to be one of the significant items in his speech and that will have an impact on foreign investor activity.'

Besides Mr Najib's keynote address, there will be presentations by government ministers, chief ministers, corporate captains and capital market players.

Last year's Invest Malaysia attracted 600 delegates. 400 people have signed up so far for this year's event, and organisers hope for at least 500. The event is co-organised by Bursa Malaysia, CIMB and Capital Market Development Fund.

'As an investment proposition, the Malaysian growth story is a compelling one,' said Mr Yusli. 'Now, what is required is the support and participation of investors who are ready to tap into the enormous potential of the Malaysian market, which boasts diverse and high growth investment opportunities in Islamic and commodities sectors.'