ID :
20613
Mon, 09/22/2008 - 15:38
Auther :
Shortlink :
http://m.oananews.org//node/20613
The shortlink copeid
THAILAND APPROVES 16.76 BLN BAHT INVESTMENTS FROM MALAYSIA
By D. Arul Rajoo
BANGKOK, Sept 22 (Bernama) -- Malaysian-based companies have emerged as one of the top investors in Thailand, with 25 projects worth 16.763 billion baht (100 baht = RM9.26/US$2.73) being approved in the first eight months of this year.
It surpassed last year's figure of 10.077 billion baht for 19 projects
during the same period, and is only second to the kingdom's traditional top
investor Japan which got approval for 193 projects worth about 44.93 billion
baht this year.
Last year, Malaysian companies invested 11.57 billion baht in 33
projects.
Overall, Thailand, which is facing political crisis after its Prime
Minister's Office at the Government House was seized by anti-government
protesters on Aug 26 and premier Samak Sundaravej was forced to resign by the
Constitution Court, approved 496 projects worth 174.91 billion baht from January
to August this year.
Of this, 305 projects, valued at 87.21 billion baht, were 100 percent
foreign-owned.
Hirunya Suchinai, senior executive investment advisor at Board of
Investment (BOI), said Malaysia's investments this year were largely in sectors
like electric and electronic, agriculture, mineral and ceramics, light
industries/textiles, metal products and machinery, chemicals and paper.
"Malaysian investment projects refer to projects with Malaysian capital of
at least 10 percent. That is why we have companies like Western Digital listed
as investments from Malaysia," she said in an interview here.
Western Digital invested 15.260 billion baht for its expansion plan at the
Phra Nakhon Sri Ayudaya factory which produces hard disk drive and head stack
assembly.
Hirunya said other key investors were Ingress Autoventures, which added
another 442 million baht for its door sash production, Eco-Tech Industries
(petroleum oil from used tyres), ThaiIndo Palm Oil Factory Co Ltd (electricity
power from bio gas) and several software firms.
The BOI had approved investments totalling US$1.6 billion from over 160
Malaysian companies in the past five years, mostly in the electric and
electronics, metal products and machinery sectors, while Thailand's investments
in Malaysia amounted to over US$200 million (US$1=RM3.39).
Among the biggest Malaysian investors in Thailand are Petroliam Nasional
Bhd, Aapico Hitech plc, Sime Darby Bhd, Trans Thai-Malaysia Ltd, Century
Logistics and Bina Puri while other companies operating here include RHB Bank
and CIMB.
In terms of trade, Malaysia is Thailand's fourth largest trading partner,
with total trade increasing from RM50.11 billion in 2006 to RM55.13 billion last
year.
Hirunya said Thailand was seeking more Malaysian investors in the
machinery, automotive parts, agro products like palm oil and rubber,
biotechnology and halal food manufacturing, especially in the southern
provinces.
She said there were big potential in the automotive sector as there were 17
world-class manufacturers who had set up their assembly plants in the kingdom,
churning out more than one million vehicles, of which 53 percent were exported
in 2007.
Hirunya said despite the ongoing political crisis, investors should not be
worried with the investment climate in the country as government business
policies were always maintained, citing Thailand's 13th position in the latest
World Bank's 'Ease of Doing Business', as well as the relative low cost.
Thailand, which has a population of 64.8 million, is the world's number one
producer of rubber and hard disk drives, second top exporter of sugar, world's
largest rice exporter and 14th largest producer of motor vehicles.
(US$1=RM3.4)
-- BERNAMA
BANGKOK, Sept 22 (Bernama) -- Malaysian-based companies have emerged as one of the top investors in Thailand, with 25 projects worth 16.763 billion baht (100 baht = RM9.26/US$2.73) being approved in the first eight months of this year.
It surpassed last year's figure of 10.077 billion baht for 19 projects
during the same period, and is only second to the kingdom's traditional top
investor Japan which got approval for 193 projects worth about 44.93 billion
baht this year.
Last year, Malaysian companies invested 11.57 billion baht in 33
projects.
Overall, Thailand, which is facing political crisis after its Prime
Minister's Office at the Government House was seized by anti-government
protesters on Aug 26 and premier Samak Sundaravej was forced to resign by the
Constitution Court, approved 496 projects worth 174.91 billion baht from January
to August this year.
Of this, 305 projects, valued at 87.21 billion baht, were 100 percent
foreign-owned.
Hirunya Suchinai, senior executive investment advisor at Board of
Investment (BOI), said Malaysia's investments this year were largely in sectors
like electric and electronic, agriculture, mineral and ceramics, light
industries/textiles, metal products and machinery, chemicals and paper.
"Malaysian investment projects refer to projects with Malaysian capital of
at least 10 percent. That is why we have companies like Western Digital listed
as investments from Malaysia," she said in an interview here.
Western Digital invested 15.260 billion baht for its expansion plan at the
Phra Nakhon Sri Ayudaya factory which produces hard disk drive and head stack
assembly.
Hirunya said other key investors were Ingress Autoventures, which added
another 442 million baht for its door sash production, Eco-Tech Industries
(petroleum oil from used tyres), ThaiIndo Palm Oil Factory Co Ltd (electricity
power from bio gas) and several software firms.
The BOI had approved investments totalling US$1.6 billion from over 160
Malaysian companies in the past five years, mostly in the electric and
electronics, metal products and machinery sectors, while Thailand's investments
in Malaysia amounted to over US$200 million (US$1=RM3.39).
Among the biggest Malaysian investors in Thailand are Petroliam Nasional
Bhd, Aapico Hitech plc, Sime Darby Bhd, Trans Thai-Malaysia Ltd, Century
Logistics and Bina Puri while other companies operating here include RHB Bank
and CIMB.
In terms of trade, Malaysia is Thailand's fourth largest trading partner,
with total trade increasing from RM50.11 billion in 2006 to RM55.13 billion last
year.
Hirunya said Thailand was seeking more Malaysian investors in the
machinery, automotive parts, agro products like palm oil and rubber,
biotechnology and halal food manufacturing, especially in the southern
provinces.
She said there were big potential in the automotive sector as there were 17
world-class manufacturers who had set up their assembly plants in the kingdom,
churning out more than one million vehicles, of which 53 percent were exported
in 2007.
Hirunya said despite the ongoing political crisis, investors should not be
worried with the investment climate in the country as government business
policies were always maintained, citing Thailand's 13th position in the latest
World Bank's 'Ease of Doing Business', as well as the relative low cost.
Thailand, which has a population of 64.8 million, is the world's number one
producer of rubber and hard disk drives, second top exporter of sugar, world's
largest rice exporter and 14th largest producer of motor vehicles.
(US$1=RM3.4)
-- BERNAMA
