China Railway cites ‘astute Malaysian leader’ among reasons for investment

Malaysia's "astute, thoughtful" leader was among the eight reasons China Railway Engineering Corp (M) Sdn Bhd (CREC) said it wanted to set up its US$2 billion (RM8.4 billion) regional headquarters in Bandar Malaysia, partially owned by 1MDB.

"The Malaysian leader is astute, thoughtful of the people, and dares to turn Malaysia into a developed nation," said the infrastructure company's general manager, Cai Zemin.

Although he did not mention any names, it is understood that Cai, who was speaking in Mandarin, was referring to Prime Minister Najib Abdul Razak.

Cai, who is also China Railway Dongfang Group managing director, was addressing the crowd during the signing ceremony of the RM2.1 billion joint venture mixed development project with local developer Titijaya Land Berhad, in Kuala Lumpur.

"CREC signed two memorandums (with Malaysia during Prime Minister Najib Razak's visit) in China.

"At a dinner later, (Malaysian) minister Mustapa Mohamed asked me why CREC chose to set up its regional headquarters in Malaysia," said Cai.

Sharing with the crowd what he told Mustapa, Cai said the first reason was the fact that Malaysia is a multi-cultural country that adopts a peaceful and moderate culture.

Secondly, Malaysia has a scientific and efficient political system which benefits the people and business community, he said.

"Malaysia largely uses English in business and public sectors and this is a language used in (the) international (arena)," he added.

"I have traveled around the world, I discovered Malaysian businesses and economics were the most active (as compared with others). Malaysian businessmen are hardworking and clever," he said.

CREC also chose Malaysia for its political stability, which allows the country to continue to grow, he said.

He also claimed that Malaysia's infrastructure was among the best in Asean. 

Lastly, he said Malaysia's strategic location made it vital to China's 'One Belt, One Road' - the creation of an economic land belt that includes Central Asia, West Asia, Middle East and Europe. 

Besides setting up a regional office in Bandar Malaysia, the state-owned China Railway Engineering Corporation also ventured into Malaysia development via its subsidiary - China Railway Engineering Corporation (M) Sdn Bhd. 

Last year, IWH-CREC, the joint venture between CREC and Johor-based Iskandar Waterfront Holdings (IWH) had acquired a 60 percent stake in Bandar Malaysia from 1MDB.- Mkini