cirr
ELITE MEMBER
- Joined
- Jun 28, 2012
- Messages
- 17,049
- Reaction score
- 18
- Country
- Location
China to invest more than $1.6 billion in Malaysia steel, port
By Siva Sithraputhran and Stuart Grudgings
KUALA LUMPUR | Tue Feb 5, 2013 7:20am EST
KUALA LUMPUR Feb 5 (Reuters) - Chinese firms will invest more than $1.6 billion to build steel, aluminium and palm oil processing plants and expand a port in a new industrial zone on the Malaysian east coast, Malaysia announced on Tuesday.
The Chinese spending is part of total joint investments of 10.5 billion ringgit ($3.5 billion) expected by 2020 in the new Kuantan Industrial Park as Beijing moves to deepen its ties with the Southeast Asian nation.
China has rapidly moved to expand its diplomatic, cultural and economic influence in Southeast Asia in recent years, from funding mega-dams and casinos in the Mekong region to pushing its territorial claims in the South China Sea.
The signing comes a day after Malaysia was criticised by Human Rights Watch for what the group said was the deportation to China of six asylum seekers from the Uighur ethnic minority.
A dozens-strong Chinese delegation led by Jia Qinglin, a senior member of the Communist Party Politburo Standing Committee, was also to sign an agreement on Tuesday to set up the first major Chinese university campus on foreign soil in Malaysia.
Speaking at the ground-breaking ceremony, Prime Minister Najib Razak said Malaysia had been "ahead of the curve" in enhancing economic and diplomatic cooperation with China.
"Over the past decade, the world has come to terms with a model where China's need for resources has driven new patterns of trade and influence," he said at the ground-breaking ceremony for the industrial park in the eastern state of Pahang.
"Now it is beginning to recognise that Chinese innovation and domestic demand will prove just as potent a force in the global economy."
Chinese firm Guangxi Beibu International Port Group will partner with Malaysia's IJM Corporation Berhad in a 3 billion ringgit investment to deepen and expand Kuantan port.
Guangxi Beibu will also lead investments of 5 billion ringgit ($1.6 billion) to build the steel, aluminium and palm oil plants. Those investments would be 100 percent owned by Chinese firms, Ong Ka Ting, Najib's special envoy to China, told Reuters.
Joint investments in a "master" project to develop the industrial zone would amount to another 2.5 billion ringgit.
"The relationship with China is getting better and better," Ong said.
GROWING TRADE, INVESTMENT
China is Malaysia's largest export market, and accounts for a sixth of its imports. Najib said Malaysia expected more than 1 billion ringgit of Chinese foreign direct investment this year, with two-way trade expected to grow about 10 percent to $100 billion.
China's Xiamen university announced in January that it would open its first overseas campus in Malaysia. State news agency Bernama said it would initially take in 10,000 students, a third of them Chinese nationals.
Human Rights Watch condemned on Monday what it called Malaysia's "secret forced return" to China of six Uighurs with pending asylum claims. Rights groups have accused Beijing of detaining and intimidating ethnic Uighurs in the far western region of Xinjiang for speaking out on rights abuses following riots in the regional capital three years ago.
"They (China) are running these guys down, they are doing it in Southeast Asia with the support of governments like Malaysia. Are these quid pro quo arrangements?" said Phil Robertson, deputy Asia director at the group.
The prime minister's office did not respond to a request for comment on the allegations. Ong also declined to comment. (Reporting By Siva Sithraputhran and Stuart Grudgings; Writing by Stuart Grudgings; editing by Ron Popeski)
China to invest more than $1.6 billion in Malaysia steel, port | Reuters
270,000 Chinese in Thailand during festival
Xinhua, February 11, 2013
An estimated 270,000 tourists from China were speculated to celebrate Chinese New Year in Thailand, according to Tourism Authority of Thailand governor Surapon Svetasreni.
The Chinese tourists were known to have intended to come to Thailand to join in the celebrations of the Chinese New Year and stay for several days or until the coming weekend, said the TAT chief.
Most were expected to visit Bangkok, Phuket, Chiang Mai, Hat Yai, Nakorn Sawan and other provinces where a large number of people of Chinese origin reside or frequent. Activities involving the celebrations of the Chinese New Year, marked by dragon and lion dance processions, firework shows and paying homage to Chinese shrines, have been especially organized for the annual occasion.
That speculated number of the Chinese tourists coming to Thailand during the festive season will account for nearly 10 percent of all Chinese expected to visit the country throughout this year, according to Surapon.
No less than 10 billion baht ($333 million) in foreign currencies was expected to be circulated by the foreign visitors during the weeklong Chinese New Year season, which, in some of the tourist destinations, has been extended until the end of this week. Most were known to stay for a four- to six-days time and spend an average of 4,500 baht ($150) per day.
Thailand's Her Royal Highness Princess Maha Chakri Sirindhorn visited Yaovaraj China Town in Bangkok to join the Chinese New Year celebrations on Sunday while Lady Prime Minister Yingluck Shinawatra delivered an address on state TV and radio to express her best wishes for the Chinese on Saturday.
http://www.china.org.cn/business/2013-02/11/content_27939760.htm
By Siva Sithraputhran and Stuart Grudgings
KUALA LUMPUR | Tue Feb 5, 2013 7:20am EST
KUALA LUMPUR Feb 5 (Reuters) - Chinese firms will invest more than $1.6 billion to build steel, aluminium and palm oil processing plants and expand a port in a new industrial zone on the Malaysian east coast, Malaysia announced on Tuesday.
The Chinese spending is part of total joint investments of 10.5 billion ringgit ($3.5 billion) expected by 2020 in the new Kuantan Industrial Park as Beijing moves to deepen its ties with the Southeast Asian nation.
China has rapidly moved to expand its diplomatic, cultural and economic influence in Southeast Asia in recent years, from funding mega-dams and casinos in the Mekong region to pushing its territorial claims in the South China Sea.
The signing comes a day after Malaysia was criticised by Human Rights Watch for what the group said was the deportation to China of six asylum seekers from the Uighur ethnic minority.
A dozens-strong Chinese delegation led by Jia Qinglin, a senior member of the Communist Party Politburo Standing Committee, was also to sign an agreement on Tuesday to set up the first major Chinese university campus on foreign soil in Malaysia.
Speaking at the ground-breaking ceremony, Prime Minister Najib Razak said Malaysia had been "ahead of the curve" in enhancing economic and diplomatic cooperation with China.
"Over the past decade, the world has come to terms with a model where China's need for resources has driven new patterns of trade and influence," he said at the ground-breaking ceremony for the industrial park in the eastern state of Pahang.
"Now it is beginning to recognise that Chinese innovation and domestic demand will prove just as potent a force in the global economy."
Chinese firm Guangxi Beibu International Port Group will partner with Malaysia's IJM Corporation Berhad in a 3 billion ringgit investment to deepen and expand Kuantan port.
Guangxi Beibu will also lead investments of 5 billion ringgit ($1.6 billion) to build the steel, aluminium and palm oil plants. Those investments would be 100 percent owned by Chinese firms, Ong Ka Ting, Najib's special envoy to China, told Reuters.
Joint investments in a "master" project to develop the industrial zone would amount to another 2.5 billion ringgit.
"The relationship with China is getting better and better," Ong said.
GROWING TRADE, INVESTMENT
China is Malaysia's largest export market, and accounts for a sixth of its imports. Najib said Malaysia expected more than 1 billion ringgit of Chinese foreign direct investment this year, with two-way trade expected to grow about 10 percent to $100 billion.
China's Xiamen university announced in January that it would open its first overseas campus in Malaysia. State news agency Bernama said it would initially take in 10,000 students, a third of them Chinese nationals.
Human Rights Watch condemned on Monday what it called Malaysia's "secret forced return" to China of six Uighurs with pending asylum claims. Rights groups have accused Beijing of detaining and intimidating ethnic Uighurs in the far western region of Xinjiang for speaking out on rights abuses following riots in the regional capital three years ago.
"They (China) are running these guys down, they are doing it in Southeast Asia with the support of governments like Malaysia. Are these quid pro quo arrangements?" said Phil Robertson, deputy Asia director at the group.
The prime minister's office did not respond to a request for comment on the allegations. Ong also declined to comment. (Reporting By Siva Sithraputhran and Stuart Grudgings; Writing by Stuart Grudgings; editing by Ron Popeski)
China to invest more than $1.6 billion in Malaysia steel, port | Reuters
270,000 Chinese in Thailand during festival
Xinhua, February 11, 2013
An estimated 270,000 tourists from China were speculated to celebrate Chinese New Year in Thailand, according to Tourism Authority of Thailand governor Surapon Svetasreni.
The Chinese tourists were known to have intended to come to Thailand to join in the celebrations of the Chinese New Year and stay for several days or until the coming weekend, said the TAT chief.
Most were expected to visit Bangkok, Phuket, Chiang Mai, Hat Yai, Nakorn Sawan and other provinces where a large number of people of Chinese origin reside or frequent. Activities involving the celebrations of the Chinese New Year, marked by dragon and lion dance processions, firework shows and paying homage to Chinese shrines, have been especially organized for the annual occasion.
That speculated number of the Chinese tourists coming to Thailand during the festive season will account for nearly 10 percent of all Chinese expected to visit the country throughout this year, according to Surapon.
No less than 10 billion baht ($333 million) in foreign currencies was expected to be circulated by the foreign visitors during the weeklong Chinese New Year season, which, in some of the tourist destinations, has been extended until the end of this week. Most were known to stay for a four- to six-days time and spend an average of 4,500 baht ($150) per day.
Thailand's Her Royal Highness Princess Maha Chakri Sirindhorn visited Yaovaraj China Town in Bangkok to join the Chinese New Year celebrations on Sunday while Lady Prime Minister Yingluck Shinawatra delivered an address on state TV and radio to express her best wishes for the Chinese on Saturday.
http://www.china.org.cn/business/2013-02/11/content_27939760.htm