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Ismail Sabri Getting RM14.62 Bil Investment From US While Najib In Year 2017 Using RM16.8 Billion EPF Fund To Help Donald Trump Strengthen The US Economy

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Posted on May 17, 2022

— Prime Minister Datuk Seri Ismail Sabri Yaakob has described his four-day working visit to the United States as a success.

He said the visit has further strengthened the Malaysia-US ties as well as that of Asean-US.

“The United States is important to Malaysia from the aspect of politics and trade,” he told Malaysian media here on the final day of the visit which began Tuesday (Wednesday in Malaysia)

US is the second largest trading partner and fourth largest in terms of investment in Malaysia, he said.

He said meeting with the United States leaders and captain of industries have further enhanced the ties.

Ismail Sabri said his engagement with American investors and captains of industries indicated that there are bigger potential investments ahead for Malaysia.

“Many have expressed interest. Some pledged to expand investment while some are keen to start new investments,” he said.

Malaysia expected to garner RM14.62 bil in new investment from United States

Malaysia is expected to garner RM14.62 billion in new investments from the United States (US) following the Trade and Investment Mission (TIM) led by Senior Minister and International Trade and Industry Minister Datuk Seri Mohamed Azmin Ali.

Azmin said many US-based companies had expressed their commitments to expand their operations and footprint in Malaysia during his 10-day US TIM which began on May 8.

“We are going to make some major announcements in the next few days in terms of the total new investments that have been committed by these companies,” he told Bernama and TV3 reporters here, Tuesday.

Thus far, Azmin had met several high-technology (hi-tech) companies such global semiconductor company Texas Instruments Inc. and global materials supplier to the electronics assembly and semiconductor packaging industries Indium Corporation, and he is scheduled to engage with more hi-tech industry players on his next visits to San Francisco, Seattle and Los Angeles.

2017 : Najib Abdul Razak Told United States President Donald Trump On Wanting To Help Strengthen The US Economy

The Employees Provident Fund (EPF) and Khazanah Nasional Bhd plan to expand their investments in the US and purchase more Boeing jets to help strengthen the country’s economy, Prime Minister (PM) Datuk Seri Mohd Najib Razak announced yesterday.

The EPF alone is expected to invest between US$3 billion and US$4 billion (RM12.6 billion and RM16.8 billion).

“I want to say that we came here with a strong value proposition to put on the table. We want to help you strengthen the US economy,” Najib said during a delegation meeting with US President Donald Trump.

Najib, who is also Finance Minister, said the Malaysian delegation had three specific proposals.

First, he said Malaysia intended to increase the number of Boeing planes to be purchased by Malaysia Airlines Bhd (MAB). “We are committed to 25 planes of 737-MAX 10, eight 787 Dreamliners and there is a strong probability, not possibility, that we will add 24 (or) 25 more 737-MAX 10 in the near future.”

So, within five years, with the additional purchase, the deal will be worth beyond US$10 billion, he said.

The 737 MAX 10 will be the airline’s most profitable single-aisle airplane, offering the lowest seat costs ever, while the 787 Dreamliner is a long-haul, mid-size wide-body, twin-engine jet airliner.

Later, the PM witnessed the signing of a memorandum of understanding between MAB and Boeing Aircraft Corp for the purchase of aircraft and the setting up of a maintenance, repair and overhaul facility in Sepang, totalling US$3.9 billion.

Najib said the government would also try to persuade low-cost carrier, AirAsia Bhd, to purchase US-made General Electric engines.

“Second, we have the EPF, which is a major pension fund in Malaysia. They have got big sums of capital to be exported, they have invested close to US$7 billion in terms of equity in the US and they intend to invest an additional US$3 billion to US$4 billion to support your infrastructure re-development,” said Najib.

The PM also said Khazanah Nasional, which has an office in the Silicon Valley, California, and had already invested about US$400 million in high-technology companies, intended to increase its investments.

The Coverage

Ismail Sabri Getting RM14.62 Bil Investment From US While Najib In Year 2017 Using RM16.8 Billion EPF Fund To Help Donald Trump Strengthen The US Economy

Malaysia expected to garner RM14.62 bil in new investment from United States

2017 : Najib Abdul Razak Told United States President Donald Trump On Wanting To Help Strengthen The US Economy

“I want to say that we came here with a strong value proposition to put on the table. We want to help you strengthen the US economy,” Najib said during a delegation meeting with US President Donald Trump.

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