EconomyNEWSPerak

Perak Records RM5.2 Billion Worth of Investment Performance

Perak recorded an encouraging investment performance of RM5.2 billion for the first six months of this year, an increase of 126 percent compared to the same period last year.

Perak Menteri Besar, Dato’ Saarani Mohamad said the value of investment recorded from January to June this year is almost equivalent to the performance of the total investment value throughout 2020 which amounted to RM5.6 billion.

“The amount also includes investment of RM2.34 billion from five companies announced by the Northern Corridor Implementation Authority (NCIA) at the recent investment commitment ceremony,” he said in a media statement yesterday (October 6).

According to him, the performance showed that Perak was still able to record an increase in investment despite facing a very challenging environment following the COVID-19 pandemic which has affected major economic flows around the world.

Investment from January to June in Perak was dominated by manufacturing projects when the total investment approved in the sector was RM4.06 billion covering 21 projects.

Among the largest projects that have been approved in the manufacturing sector in Perak during the period are: 

  1. Sheng Long AquaTechnology (M) Sdn Bhd, a company from the People’s Republic of China that specializes in high performance aquaculture & aquaculture food.
  2. Eco Medi Glove, a company from Singapore that produces Examination Gloves.
  3. KL-Kepong Rubber Gloves, a local company that produces Examination Gloves made from nitrile and natural rubber.
  4. Onetexx Sdn. Bhd., a company that will build an integrated facility for the manufacture of rubber gloves in Kamunting, Perak.
  5. PNA Technologies Sdn. Bhd., an manufacturing company of the automotive industry that will invest in Kampung Gajah, Perak.
  6. Hicom Teck See Manufacturing Malaysia Sdn. Bhd., an automotive component manufacturing company that will build a new plant in Tanjung Malim, Perak.
  7. Dynacare Sdn. Bhd., a company that will build a glove production plant in the Lumut Port Industrial Park, Perak.

He said all these high-impact projects accounted for 90 percent of the total investment value of manufacturing projects and represented 70 percent of the total investment for various sectors approved in Perak for the period from January to June.

Meanwhile, for the services sector and main sector, the total investments approved were RM1.15 billion and RM0.022 million respectively. The total number of projects for these two sectors is 151 projects.

Saarani added that investment approvals in all sectors are projected to create 4,162 new job opportunities for the people in Perak, with the manufacturing sector being the largest contributor at 91.4 percent.

“The state government will continue to intensify efforts, including doubling cooperation with MIDA, to help strengthen business processes as well as improve the efficiency of various organizational functions.”

He mentioned that one of the initiatives that have been implemented include PACU@MIDA or the Project Acceleration and Coordination Unit which provides end-to-end assistance for all approved projects to ensure the investment process can be carried out within the stipulated time.

 

Rosli Mansor

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