‘Opportunities still rife in Malaysian investment landscape’

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KUCHING: Thoughts of the weakening ringgit is no dampener to the local investment landscape, opines Datuk Jalilah Baba, chairman of Crewstone International Sdn Bhd (Crewstone), as both local and international investors continue to look here for investment opportunities.

Jalilah, who was previously the Malaysian Investment Development Authority (MIDA) Director General said, while many believe that the weakening ringgit can only spell the worst for Malaysia’s future, it has also brought about several opportunities to Malaysian businesses.

“We just need to look for the silver lining, she said.

“Reigning in the most obvious advantages is the exports industry. At the end of 2014, Malaysia’s total exports were valued at RM766.13 billion – an increase of 6.4 per cent from 2013.

“Apart from crude petroleum, petroleum products and Liquefied Natural Gas (LNG), we also export other products and services, with major trading partners being countries like China, US and the Middle East.”

Jalilah noted that our products are made ‘cheaper’ for the buying nations with the declining value of the ringgit and thus, making it more attractive, although the actual value or price of the exports has not reduced.

“Another significant benefit is the lowered cost of doing business in Malaysia as a result of its increased attractiveness as an investment destination due to the softening ringgit.

“Now, with US$10 million, a company will be able to get much more done today than they would have been able to when the Ringgit was at its peak.

“Inevitably, we also become more attractive to international tourists, as their currency is able to stretch much further as they stay, travel and shop here.”

All these lead up to an economic spillover, she said, which would then contribute to the nation’s economic growth, greatly improving our GDP, therefore improving our prospects of appealing as an ideal investment hub to all investors alike.

When asked on major challenges potential investors face in Malaysia, Jalilah observed that unlike some other countries, there is no single authority here that is responsible for the approval of funds, grants and incentives.

“Therefore, it can become a tedious process to obtain the relevant information from the different organisations, and then to try and understand their respective terms and conditions.

“Furthermore, the application process can sometimes be relatively confusing as there can be an overlap of the types of assistance offered by the different authorities.

“On this point, Crewstone International eradicates these issues as we work together very closely with the client to ensure the process is swift, cost-effective and results-driven.”