Samsung SDI Co Ltd aims to make Malaysia its largest international offshore operation outside of Korea by 2015, citing a good industrial ecosystem as the main contributing factor.
Its chairman and president Park Sang Jin said political stability, availability of skilled labour and an economy that focused on high value-added activities, made Malaysia a desirable choice.
“I am satisfied with the performance of Samsung as a leading technology venture, where it is always involved in the areas of new and emerging technologies, and the result has been brought to Malaysia,” said Malaysia’s minister of international trade and industry Mustapa Mohamed after his meeting with Park in Kuala Lumpur on Wednesday.
Samsung has invested about 5 billion ringgit into five manufacturing and 10 services entities, according to the ministry. With annual sales of about 19 billion ringgit, Samsung contributed 1.7 percent of Malaysia’s gross domestic product in 2010, said the ministry.
Khazanah divests over 8 pct of MAHB-The Edge
Malaysia’s state investor Khazanah Nasional Bhd placed out more than eight percent of Malaysia Airports Holdings Bhd on Wednesday, reducing its stake in the country’s dominant airport operator to almost 41 percent.
According to dealers, the exercise that lasted four hours after market closed at 5pm was broken into two blocks - with an initial block of 85 million shares followed by another 25 million shares.
“Khazanah usually places out shares in MAHB at this time of the year. For a few weeks now, the market has been anticipating the placement,” said a dealer.
Assuming all 110 million shares were sold, Khazanah would have ended up with about 616 million ringgit.
NOTE: Reuters has not verified this story and does not vouch for its accuracy.