Malaysian plantation giant Sime Darby Bhd. plans to spend up to MYR2 billion ($590 million) in China--effectively doubling its investment there--to boost its presence over the next five years.
Chief Executive Ahmad Zubir Murshid said Monday the company is looking to expand all its five core businesses--plantations, property, motor, industrial and energy--in China, but declined to elaborate.
The world's largest listed plantation company currently has investments totalling about MYR2 billion there, he said.
Sime Darby last week said in a statement that the company is exploring growth opportunities worldwide "with particular emphasis on expanding our operations in China."
During Prime Minister Najib Razak's visit to China in June, the company had been offered a "multi-billion dollar" 700 square kilometer property development project in Weifang prefecture city that's touted as one of the biggest ventures undertaken by a foreign company in China.
The company currently owns and operates Weifang Port while its utility division is concessionaire for treated industrial water supply in parts of Shandong province.
(Source: irco.biz)
No comments:
Post a Comment