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Categories
| Petronas, YTL and Genting top cross-border investment list |
| Business & Market 2009 | |||
| Written by Yong Min Wei | |||
| Tuesday, 10 November 2009 15:29 | |||
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KUALA LUMPUR: The top-three Malaysian companies with the largest cross-border investments currently are Pertronas, YTL and Genting, the Dewan Rakyat was told.
Deputy Minister of International Trade and Industry Datuk Jacob Dungau Sagan said Petronas topped the list with some US$7.3 billion (RM24.8 billion) worth of assets overseas with its primary activities involving petroleum exploration, refinery and distribution. “The second is YTL ,which is in the power, gas and water industries and the third is likely to be Genting, which is involved in consumer services,” he told the House when replying to a supplementary question form Alexander Nanta Linggi (Kapit – BN) who wanted to know the top-three Malaysian companies with the largest investment outflow. According to Sagan, other Malaysian companies that have large cross-border investments include Sime Darby, Telekom, Tanjong plc and Maybank, adding that it showed local companies had the ability to compete in the global arena. Asked by Linggi about the effect of the stimulus packages on the inflow and outflow of foreign direct invesment, the deputy minister replied: “It is still too early for us to assess the impact from the RM67 billion stimulus packages aimed at stimulating consumption in the country.”
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