Country Garden considers increasing investments in Malaysia

PETALING JAYA (Aug 24): Hong Kong-listed property developer Country Garden Holdings founder and chairman Yeung Kwok Keung is confident in Malaysia’s economic prospects under the new government and plans to enlarge its investments in Malaysia, according to a report by Chinese daily Nanyang Siang Pau.

"I am confident that Malaysia, under the leadership of [Prime Minister] Tun Dr Mahathir Mohamad, will continue to welcome foreign businesses and investors. Therefore, I intend to invest more in Malaysia in the coming years, potentially in the area of modern agriculture and robotics industry, as per the country’s law and regulations,” he said in a press statement.

Yeung had met with the premier at his office in Parliament on Aug 16.

During the 40-minute meeting, he had sought the PM’s advice on future investment opportunities and issues related with foreign investment.

Yeung, the founder of China’s largest property developer in terms of sales revenue, is the second Chinese billionaire businessman to visit Mahathir after Jack Ma from Alibaba Group.

According to a press statement, Mahathir welcomed foreign investments which could create employment opportunities, promote technology transfer and innovations that could benefit Malaysia’s economic growth and job creation.

Meanwhile, Yeung said Malaysian legal system is well-established to protect the rights of foreign investors.

"I will ensure any and all business activities by Country Garden Holdings will strictly comply with the laws and regulations in Malaysia. We will achieve sustainable development in Malaysia through proper legal compliance,” he stressed.

Currently, Malaysia remains the largest overseas market for the developer.

Its projects in Malaysia including Forest City by Country Garden and Country Garden Danga Bay in Johor Baru as well as Country Garden Diamond City in Semenyih, Selangor.

"With the Prime Minister as one of the pioneers in building up ASEAN, a strategic location, established legal system, diverse culture, healthy young workforce, stable political landscape and favourable economic policies, I strongly believe that Malaysia is the gateway to the whole of the Southeast Asia market,” said Yeung.