Kuala Lumpur targets more multinationals

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Michael KC Yam
Michael KC Yam, InvestKL Chairman

Kuala Lumpur’s investment agency Invest KL has raised the target for global multinational companies to invest in Malaysia to 12 this year as compared to its yearly target of 10 in past years, its chairman Michael KC Yam said.

InvestKL is currently in talks with several global companies to set up their regional presence in Malaysia, as these companies have found Kuala Lumpur to be cost-competitive and being able to provide ample talent resources and other advantages as compared to other countries in the region, he said.

“We are tapping into companies and also to big companies in China and Russia which are thinking of making a presence in Southeast Asia and selling Malaysia at a very high level to these companies to come and establish their presence in Malaysia,” Yam said.

“At the moment, we are also talking to Cargill Inc to bring its commodity trading desk for chocolate and cocoa,” he told reporters at the Greater KL and Smart Cities Summit organised by Asian Strategy and Leadership Institute in Kuala Lumpur on February 25.

InvestKL is a government entity under the purview of the Ministry of International Trade and Industry, Ministry of Federal Territories and Urban Wellbeing and the Performance Management and Delivery Unit (Pemandu) under the Prime Minister’s Department.

The top 4 per cent of the companies in Greater KL/Klang Valley today generate 79 per cent of total revenue while the top 10% of companies contribute 63% of total employment. Currently, there are 18 multinational companies with a base in the area.

 

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Reading Time: 1 minute

Michael KC Yam, InvestKL Chairman

Kuala Lumpur’s investment agency Invest KL has raised the target for global multinational companies to invest in Malaysia to 12 this year as compared to its yearly target of 10 in past years, its chairman Michael KC Yam said.

Reading Time: 1 minute

Michael KC Yam
Michael KC Yam, InvestKL Chairman

Kuala Lumpur’s investment agency Invest KL has raised the target for global multinational companies to invest in Malaysia to 12 this year as compared to its yearly target of 10 in past years, its chairman Michael KC Yam said.

InvestKL is currently in talks with several global companies to set up their regional presence in Malaysia, as these companies have found Kuala Lumpur to be cost-competitive and being able to provide ample talent resources and other advantages as compared to other countries in the region, he said.

“We are tapping into companies and also to big companies in China and Russia which are thinking of making a presence in Southeast Asia and selling Malaysia at a very high level to these companies to come and establish their presence in Malaysia,” Yam said.

“At the moment, we are also talking to Cargill Inc to bring its commodity trading desk for chocolate and cocoa,” he told reporters at the Greater KL and Smart Cities Summit organised by Asian Strategy and Leadership Institute in Kuala Lumpur on February 25.

InvestKL is a government entity under the purview of the Ministry of International Trade and Industry, Ministry of Federal Territories and Urban Wellbeing and the Performance Management and Delivery Unit (Pemandu) under the Prime Minister’s Department.

The top 4 per cent of the companies in Greater KL/Klang Valley today generate 79 per cent of total revenue while the top 10% of companies contribute 63% of total employment. Currently, there are 18 multinational companies with a base in the area.

 

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