Business

CREC’s investment indicates confidence in Malaysian economy

CREC

Zaidi Azmi
Written by Zaidi Azmi

KUALA LUMPUR – March 21, 2016: China Railway Group Ltd (CREC) which announced that it will open its latest regional centre in Bandar Malaysia is known as one of the world’s largest engineering and construction firms.

It also has business in industrial manufacturing, real estate development and resources as well as mineral products.

Founded in 2009, the company ranked 71st in the Fortune 500 in 2015, with turnover exceeding USD$100 billion per annum.

CREC’s planned centre could assist in further boosting the Malaysian economy because being a major multinational player, its investment here shows the company’s confidence in the country’s economy despite what the perceived “political uncertainty.”

In fact, CREC will act as an impressive first mover in Bandar Malaysia that will eventually attract other international players, many of whom have already expressed interest in Malaysia.

The partnership between Malaysia and CREC highlights the importance of regional ties in an era of Asean ascendancy where Malaysia will continue to be a major player.

Interestingly, the 194ha (486 acre) Bandar Malaysia will also serve as the country’s gateway to the world through the planned High Speed Rail to Singapore and the Pan Asean Rail Transit to Bangkok.

Hence it is evident that the USD$2 billion (RM8.13 billion) CREC regional centre in the country confirms the focus by Prime Minister Datuk Seri Najib Razak to make Kuala Lumpur and Malaysia a top global destination choice for international investors.

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About the author

Zaidi Azmi

Zaidi Azmi

If Zaidi Azmi isn’t busy finding his way in the city, this 26-year-old northern kampung boy can be found struggling to make sense of the Malaysian political scene. Zaidi can be reached at [email protected]