PM, ministers witness MoU exchange worth a total of RM19.84 billion

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Three MoUs.

Prime Minister Datuk Seri Anwar Ibrahim, accompanied by several Malaysian ministers, witnessed the exchange of three memoranda of understanding (MoUs) worth a total of RM19.84 billion between Malaysian and Chinese companies in conjunction with his one-day working visit to Nanning, China.

The ministers are Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz, Local Government Development Minister Nga Kor Ming, Deputy Foreign Minister Datuk Mohamad Alamin and Deputy Agriculture and Food Security Minister Chan Foong Hin.


Information shared by the Prime Minister’s Office (PMO) showed that the first MoU with an estimated investment value of RM15 billion (US$5.2 billion) was exchanged between Citaglobal Bhd and Shanghai Sus Environment, in which both companies would explore the potential collaboration of developing waste-to-energy power plants, primarily in Malaysia.

The second MoU worth about RM2.34 billion (US$500 million) was exchanged between PM Access World and Beibu Gulf Port Group.

It involves the warehousing and logistics cooperation between the two companies in supporting the region’s New International Land-Sea Trade Corridor to promote economic and trade cooperation between Guangxi and Malaysia.

The last MoU with a potential export value of RM2.5 billion was exchanged between Sime Darby Oils International Ltd and GuangXi Beibu Gulf International Port Group.

This MoU is on the cooperation of building a trading and distribution centre for refined palm oil and shortening in Qinzhou, China with an estimated annual transaction volume of 500,000 tonnes.

Anwar, who is also Finance Minister, is undertaking a working visit to Nanning today at the invitation of Chinese Premier Li Qiang to attend the 20th China-Asean Expo (CAEXPO) here.