UAE, Qatar step up Malaysia investment

Oil storageThe United Arab Emirates (UAE) have finalised two investment deals worth $12.8 billion with Malaysia on March 12 on high-impact projects in Malaysia, while Qatar has expressed interest in Sarawak’s local aviation industry after committing to investments in the state in the fields of halal production, energy and industry.

UAE-based investment firm Aabar agreed to establish a strategic partnership worth $5.9 billion with state-owned project developer 1Malaysia Development Bhd (1MDB), which is developing Kuala Lumpur’s new financial district including the planned Tun Razak Exchange.

Furthermore, Abu Dhabi agreed to set up a $6.76 billion oil storage facility in Johor state in southern Malaysia. The  facility will be located off the coast of Tanjung Piai with a capacity to store 60 million barrels of crude oil and petroleum. The facility will be designed, built, operated and maintained for the exclusive use of Abu Dhabi and it will function as Abu Dhabi’s strategic petroleum reserve.

Meanwhile, the Qatari government has said it wants to deepen its economic relations to Sarawak by not only investing into the new halal hub at Tanjung Manis and several industrial developments in the Sarawak Corridor of Renewable Energy, or SCORE, but also in the state’s local aviation industry.

Qatar has set sight on Hornbill Skyway, a  regional charter helicopter service operating in towns and rural areas in Sarawak majority-owned by the state. The plan is to expand Hornbill’s operations by providing flight services for offshore oil and gas industry as well as to start commercial services.

Hornbill Skyways has two main bases in Sarawak – in Kuching and Miri – and a total of 14 aircraft consisting of three units of fixed wings and eleven units of helicopters.

 



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The United Arab Emirates (UAE) have finalised two investment deals worth $12.8 billion with Malaysia on March 12 on high-impact projects in Malaysia, while Qatar has expressed interest in Sarawak's local aviation industry after committing to investments in the state in the fields of halal production, energy and industry. UAE-based investment firm Aabar agreed to establish a strategic partnership worth $5.9 billion with state-owned project developer 1Malaysia Development Bhd (1MDB), which is developing Kuala Lumpur's new financial district including the planned Tun Razak Exchange. Furthermore, Abu Dhabi agreed to set up a $6.76 billion oil storage facility in Johor state in...

Oil storageThe United Arab Emirates (UAE) have finalised two investment deals worth $12.8 billion with Malaysia on March 12 on high-impact projects in Malaysia, while Qatar has expressed interest in Sarawak’s local aviation industry after committing to investments in the state in the fields of halal production, energy and industry.

UAE-based investment firm Aabar agreed to establish a strategic partnership worth $5.9 billion with state-owned project developer 1Malaysia Development Bhd (1MDB), which is developing Kuala Lumpur’s new financial district including the planned Tun Razak Exchange.

Furthermore, Abu Dhabi agreed to set up a $6.76 billion oil storage facility in Johor state in southern Malaysia. The  facility will be located off the coast of Tanjung Piai with a capacity to store 60 million barrels of crude oil and petroleum. The facility will be designed, built, operated and maintained for the exclusive use of Abu Dhabi and it will function as Abu Dhabi’s strategic petroleum reserve.

Meanwhile, the Qatari government has said it wants to deepen its economic relations to Sarawak by not only investing into the new halal hub at Tanjung Manis and several industrial developments in the Sarawak Corridor of Renewable Energy, or SCORE, but also in the state’s local aviation industry.

Qatar has set sight on Hornbill Skyway, a  regional charter helicopter service operating in towns and rural areas in Sarawak majority-owned by the state. The plan is to expand Hornbill’s operations by providing flight services for offshore oil and gas industry as well as to start commercial services.

Hornbill Skyways has two main bases in Sarawak – in Kuching and Miri – and a total of 14 aircraft consisting of three units of fixed wings and eleven units of helicopters.

 



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

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Personal Info

Donation Total: $10.00

 

 

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