Malaysia expecting Australian firms to invest $5 billion, reports say

This post was originally published on this site

Australian data centre operators AirTrunk and NextDC are planning to spend about 11 billion ringgit and 3 billion ringgit respectively, while miner Lynas Rare Earths was keen to expand its investments in Malaysia, Anwar told reporters during his visit to Australia this week, according to Bernama. No timeframe for the investments was given.

The potential investments would create jobs for about 1,200 skilled workers in Malaysia, Anwar was quoted as saying.

Separately, Malaysia’s International Trade and Industry Minister Tengku Zafrul Aziz told broadcaster CNBC government officials had met with 20 Australian companies during the trip, with eight firms committing investments of about A$5.2 billion ($3.38 billion) so far.

($1 = 4.7370 ringgit)

($1 = 1.5366 Australian dollars)